SC 13D/A 1 pegs13d10.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D (Amendment No. 10) Under the Securities Exchange Act of 1934 PEGASUS SOLUTIONS, INC. ----------------------- (Name of Issuer) COMMON STOCK, Par Value $0.01 ------------------------------------- (Title of Class of Securities) 705906105 --------- (CUSIP Number) Gregory D. Hitchan Blum Capital Partners, L.P. 909 Montgomery Street, Suite 400 San Francisco, CA 94133 (415) 434-1111 -------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) May 2, 2006 ----------------- (Date of Event which Requires Filing of this Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(b)(3) or (4), check the following box [ ]. *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). Page 1 of 11 CUSIP NO. 705906105 SCHEDULE 13D Page 2 of 11 ----------------------------------------------------------------------------- 1. NAME OF REPORTING PERSON BLUM CAPITAL PARTNERS, L.P. S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 94-3205364 ----------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x] (b) [x] ----------------------------------------------------------------------------- 3. SEC USE ONLY ----------------------------------------------------------------------------- 4. SOURCE OF FUNDS* See Item 3 ----------------------------------------------------------------------------- 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] ----------------------------------------------------------------------------- 6. CITIZENSHIP OR PLACE OF ORGANIZATION California ----------------------------------------------------------------------------- 7. SOLE VOTING POWER -0- NUMBER OF ---------------------------------------------------------- SHARES 8. SHARED VOTING POWER -0-** BENEFICIALLY OWNED BY EACH ---------------------------------------------------------- PERSON WITH 9. SOLE DISPOSITIVE POWER -0- ---------------------------------------------------------- 10. SHARED DISPOSITIVE POWER -0-** ----------------------------------------------------------------------------- 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON -0-** ----------------------------------------------------------------------------- 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] ----------------------------------------------------------------------------- 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0%** ----------------------------------------------------------------------------- 14. TYPE OF REPORTING PERSON PN, IA ----------------------------------------------------------------------------- ** See Item 5 *SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP NO. 705906105 SCHEDULE 13D Page 3 of 11 ----------------------------------------------------------------------------- 1. NAME OF REPORTING PERSON RICHARD C. BLUM & ASSOCIATES, INC. S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 94-2967812 ----------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x] (b) [x] ----------------------------------------------------------------------------- 3. SEC USE ONLY ----------------------------------------------------------------------------- 4. SOURCE OF FUNDS* See Item 3 ----------------------------------------------------------------------------- 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] ----------------------------------------------------------------------------- 6. CITIZENSHIP OR PLACE OF ORGANIZATION California ----------------------------------------------------------------------------- 7. SOLE VOTING POWER -0- NUMBER OF ---------------------------------------------------------- SHARES 8. SHARED VOTING POWER -0-** BENEFICIALLY OWNED BY EACH ---------------------------------------------------------- PERSON WITH 9. SOLE DISPOSITIVE POWER -0- ---------------------------------------------------------- 10. SHARED DISPOSITIVE POWER -0-** ----------------------------------------------------------------------------- 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON -0-** ----------------------------------------------------------------------------- 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] ----------------------------------------------------------------------------- 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0%** ----------------------------------------------------------------------------- 14. TYPE OF REPORTING PERSON CO ----------------------------------------------------------------------------- ** See Item 5 *SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP NO. 705906105 SCHEDULE 13D Page 4 of 11 ----------------------------------------------------------------------------- 1. NAME OF REPORTING PERSON BLUM STRATEGIC GP, L.L.C. S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 94-3303831 ----------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x] (b) [x] ----------------------------------------------------------------------------- 3. SEC USE ONLY ----------------------------------------------------------------------------- 4. SOURCE OF FUNDS* See Item 3 ----------------------------------------------------------------------------- 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] ----------------------------------------------------------------------------- 6. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware ----------------------------------------------------------------------------- 7. SOLE VOTING POWER -0- NUMBER OF ---------------------------------------------------------- SHARES 8. SHARED VOTING POWER -0-** BENEFICIALLY OWNED BY EACH ---------------------------------------------------------- PERSON WITH 9. SOLE DISPOSITIVE POWER -0- ---------------------------------------------------------- 10. SHARED DISPOSITIVE POWER -0-** ----------------------------------------------------------------------------- 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON -0-** ----------------------------------------------------------------------------- 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] ----------------------------------------------------------------------------- 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0%** ----------------------------------------------------------------------------- 14. TYPE OF REPORTING PERSON OO (Limited Liability Company) ----------------------------------------------------------------------------- ** See Item 5 *SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP NO. 705906105 SCHEDULE 13D Page 5 of 11 ----------------------------------------------------------------------------- 1. NAME OF REPORTING PERSON BLUM STRATEGIC GP II, L.L.C. S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 94-3395150 ----------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [x] (b) [x] ----------------------------------------------------------------------------- 3. SEC USE ONLY ----------------------------------------------------------------------------- 4. SOURCE OF FUNDS* See Item 3 ----------------------------------------------------------------------------- 5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] ----------------------------------------------------------------------------- 6. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware ----------------------------------------------------------------------------- 7. SOLE VOTING POWER -0- NUMBER OF ---------------------------------------------------------- SHARES 8. SHARED VOTING POWER -0-** BENEFICIALLY OWNED BY EACH ---------------------------------------------------------- PERSON WITH 9. SOLE DISPOSITIVE POWER -0- ---------------------------------------------------------- 10. SHARED DISPOSITIVE POWER -0-** ----------------------------------------------------------------------------- 11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON -0-** ----------------------------------------------------------------------------- 12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] ----------------------------------------------------------------------------- 13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0%** ----------------------------------------------------------------------------- 14. TYPE OF REPORTING PERSON OO (Limited Liability Company) ----------------------------------------------------------------------------- ** See Item 5 *SEE INSTRUCTIONS BEFORE FILLING OUT! CUSIP NO. 705906105 SCHEDULE 13D Page 6 of 11 Item 1. Security and Issuer ---------------------------- This Amendment No. 10 amends the Statement on Schedule 13D (the ""Schedule 13D) filed with the Securities and Exchange Commission (the "Commission") on January 13, 2006 by Blum Capital Partners, L.P., a California limited partnership, ("Blum L.P."); Richard C. Blum & Associates, Inc., a California corporation ("RCBA Inc."); Blum Strategic GP, L.L.C., a Delaware limited liability company ("Blum GP"); and Blum Strategic GP II, L.L.C., a Delaware limited liability company ("Blum GP II"), (collectively, the "Reporting Persons"). This amendment relates to shares of Common Stock, $0.01 par value (the "Common Stock") of Pegasus Solutions, Inc., a Delaware corporation (the "Issuer"). The principal executive office and mailing address of the Issuer is Campbell Center I, 8350 North Central Expressway, Suite 1900, Dallas, Texas 75206. The following amendments to Schedule 13D are hereby made. Unless otherwise defined herein, all capitalized terms shall have the meanings ascribed to them in the Schedule 13D. Item 2. Identity and Background -------------------------------- Item 2 of the Schedule 13D is hereby amended as follows: Since the filing of Amendment No. 9 to Schedule 13D, there have been changes to the executive officers and directors of Blum L.P. and RCBA Inc. The principal business office address of Blum L.P. and RCBA Inc. is 909 Montgomery Street, Suite 400, San Francisco, California 94133. The names of the executive officers and directors of Blum L.P. and RCBA Inc., their addresses, citizenship and principal occupations are as follows: Name and Business Citizenship Principal Occupation Office Held Address or Employment -------------------- ----------------------- --------- -------------------- Richard C. Blum 909 Montgomery St. USA President & Chairman, President, Suite 400 Blum L.P. Chairman & Director San Francisco, CA 94133 Nils Colin Lind 909 Montgomery St. Norway Managing Partner, Managing Partner Suite 400 Blum L.P. & Director San Francisco, CA 94133 Jose S. Medeiros 909 Montgomery St. Brazil Partner, Partner Suite 400 Blum L.P. San Francisco, CA 94133 John H. Park 909 Montgomery St. USA Partner, Partner Suite 400 Blum L.P. San Francisco, CA 94133 Gregory L. Jackson 909 Montgomery St. USA Partner, Partner Suite 400 Blum L.P. San Francisco, CA 94133 CUSIP NO. 705906105 SCHEDULE 13D Page 7 of 11 Name and Business Citizen- Principal Occupation Office Held Address ship or Employment -------------------- ----------------------- --------- -------------------- Jeffrey A. Cozad 909 Montgomery St. USA Partner, Partner Suite 400 Blum L.P. San Francisco, CA 94133 Jane J. Su 909 Montgomery St. USA Partner, Partner Suite 400 Blum L.P. San Francisco, CA 94133 David H.S. Chung 909 Montgomery St. USA Partner, Partner Suite 400 Blum L.P. San Francisco, CA 94133 Marc T. Scholvinck 909 Montgomery St. USA Partner & Chief Partner, Chief Suite 400 Financial Officer, Financial Officer, San Francisco, CA 94133 Blum L.P. Assistant Secretary & Director Gregory D. Hitchan 909 Montgomery St. USA Partner, General Partner, General Suite 400 Counsel & Secretary, Counsel & Secretary San Francisco, CA 94133 Blum L.P. Since the filing of Amendment No. 9 to Schedule 13D, there have been changes to the members of Blum GP. The principal business of Blum GP is acting as general partner for Blum Strategic Partners, L.P., a Delaware limited partnership. The principal business office address of Blum GP is 909 Montgomery Street, Suite 400, San Francisco, CA 94133. The names of the managing members and members of Blum GP, their addresses, citizenship and principal occupations are as follows: Name and Business Citizen- Principal Occupation Office Held Address ship or Employment -------------------- ----------------------- --------- -------------------- Richard C. Blum 909 Montgomery St. USA President & Chairman, Managing Member Suite 400 Blum L.P. San Francisco, CA 94133 Nils Colin Lind 909 Montgomery St. Norway Managing Partner, Managing Member Suite 400 Blum L.P. San Francisco, CA 94133 Jose S. Medeiros 909 Montgomery St. Brazil Partner, Member Suite 400 Blum L.P. San Francisco, CA 94133 CUSIP NO. 705906105 SCHEDULE 13D Page 8 of 11 Name and Business Citizen- Principal Occupation Office Held Address ship or Employment -------------------- ----------------------- --------- ------------------- Jeffrey A. Cozad 909 Montgomery St. USA Partner, Member Suite 400 Blum L.P. San Francisco, CA 94133 Marc T. Scholvinck 909 Montgomery St. USA Partner & Chief Member Suite 400 Financial Officer, San Francisco, CA 94133 Blum L.P. Gregory D. Hitchan 909 Montgomery St. USA Partner, General Member and General Suite 400 Counsel & Secretary, Counsel San Francisco, CA 94133 Blum L.P. Since the filing of Amendment No. 9 to Schedule 13D, there have been changes to the managing members and members of Blum GP II. Blum GP II is a Delaware limited liability company whose principal business is acting as the sole general partner of Blum Strategic Partners II, L.P. and also as managing limited partner of Blum Strategic Partners II GmbH & Co. KG. The principal business office address of Blum GP II is 909 Montgomery Street, Suite 400, San Francisco, CA 94133. The names of the managing members and members of Blum GP II, their addresses, citizenship and principal occupations are as follows: Name and Business Citizen- Principal Occupation Office Held Address ship or Employment -------------------- ----------------------- --------- -------------------- Richard C. Blum 909 Montgomery St. USA President & Chairman, Managing Member Suite 400 Blum L.P. San Francisco, CA 94133 Nils Colin Lind 909 Montgomery St. Norway Managing Partner, Managing Member Suite 400 Blum L.P. San Francisco, CA 94133 Jose S. Medeiros 909 Montgomery St. Brazil Partner, Managing Member Suite 400 Blum L.P. San Francisco, CA 94133 John H. Park 909 Montgomery St. USA Partner, Managing Member Suite 400 Blum L.P. San Francisco, CA 94133 Gregory L. Jackson 909 Montgomery St. USA Partner, Managing Member Suite 400 Blum L.P. San Francisco, CA 94133 Jeffrey A. Cozad 909 Montgomery St. USA Partner, Managing Member Suite 400 Blum L.P. San Francisco, CA 94133 CUSIP NO. 705906105 SCHEDULE 13D Page 9 of 11 Name and Business Citizen- Principal Occupation Office Held Address ship or Employment -------------------- ----------------------- --------- -------------------- Marc T. Scholvinck 909 Montgomery St. USA Partner, Managing Member Suite 400 Blum L.P. San Francisco, CA 94133 Gregory D. Hitchan 909 Montgomery St. USA Partner, General Member and General Suite 400 Counsel & Secretary, Counsel San Francisco, CA 94133 Blum L.P. To the best knowledge of the Reporting Persons, none of the entities or persons identified in this Item 2 has, during the past five years, been convicted of any criminal proceeding (excluding traffic violations or similar misdemeanors), nor been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws. Item 5. Interest in Securities of the Issuer --------------------------------------------- Item 5 is hereby amended as follows: (a), (b) On May 3, 2006, the Issuer announced that the Issuer's stockholders approved on May 3, 2006 the Agreement and Plan of Merger between the Issuer and Perseus Holding Corp. and 406 Acquisition Corp. Pursuant to the Agreement and Plan of Merger, each share of the Issuer's Common Stock was cancelled on May 4, 2006 and automatically converted into the right to receive $9.50 per share in cash, without interest. (c) During the last 60 days, the Reporting Persons sold the following shares of Common Stock in the open market: Entity Trade Date Shares Price/Share ------ ---------- ------- ---------- Investment partnerships for 04-28-06 47,642 9.4400 which Blum L.P. serves as the 05-01-06 22,200 9.4401 general partner and on behalf 05-02-06 65,600 9.4402 of an entity for which Blum L.P. 05-03-06 242,200 9.4394 serves as investment advisor. 05-03-06 316,200 9.4395 Entity Trade Date Shares Price/Share ------ ---------- ------- ---------- The limited partnership for 04-28-06 14,600 9.4400 which Blum GP serves as the 05-01-06 6,800 9.4401 general partner. 05-02-06 20,100 9.4402 05-03-06 74,200 9.4394 05-03-06 96,800 9.4395 CUSIP NO. 705906105 SCHEDULE 13D Page 10 of 11 Entity Trade Date Shares Price/Share ------ ---------- ------- ---------- The limited partnerships for 04-28-06 34,600 9.4400 which Blum GP II serves as the 05-01-06 15,961 9.4401 general partner and the managing 05-02-06 47,600 9.4402 limited partner. 05-03-06 175,600 9.4394 05-03-06 228,900 9.4395 Entity Trade Date Shares Price/Share ------ ---------- ------- ---------- The Investment Advisory 04-28-06 1,600 9.4400 Clients for which Blum L.P. 05-01-06 800 9.4401 serves as investment advisor. 05-02-06 2,200 9.4402 05-03-06 8,000 9.4394 05-03-06 10,400 9.4395 (d) Not applicable. (e) As of May 3, 2006, the Reporting Persons ceased to be beneficial owners of more than five percent of the Common Stock. Item 7. Material to be Filed as Exhibits ----------------------------------------- Exhibit A Joint Filing Undertaking. CUSIP NO. 705906105 SCHEDULE 13D Page 11 of 11 SIGNATURES After reasonable inquiry and to the best of our knowledge and belief, the undersigned certify that the information set forth in this statement is true, complete and correct. Dated: May 5, 2006 RICHARD C. BLUM & ASSOCIATES, INC. BLUM CAPITAL PARTNERS, L.P. By: Richard C. Blum & Associates, Inc. its general partner By: /s/ Gregory D. Hitchan By: /s/ Gregory D. Hitchan ------------------------------- ----------------------------------- Gregory D. Hitchan, Gregory D. Hitchan, Partner, General Counsel and Partner, General Counsel and Secretary Secretary BLUM STRATEGIC GP, L.L.C. BLUM STRATEGIC GP II, L.L.C. By: /s/ Gregory D. Hitchan By: /s/ Gregory D. Hitchan -------------------------- ----------------------------------- Gregory D. Hitchan, Gregory D. Hitchan, Member and General Counsel Member and General Counsel CUSIP NO. 705906105 SCHEDULE 13D Page 1 of 1 Exhibit A JOINT FILING UNDERTAKING The undersigned, being duly authorized thereunto, hereby execute this agreement as an exhibit to this Schedule 13D to evidence the agreement of the below-named parties, in accordance with the rules promulgated pursuant to the Securities Exchange Act of 1934, to file this Schedule jointly on behalf of each such party. Dated: May 5, 2006 RICHARD C. BLUM & ASSOCIATES, INC. BLUM CAPITAL PARTNERS, L.P. By: Richard C. Blum & Associates, Inc. its general partner By: /s/ Gregory D. Hitchan By: /s/ Gregory D. Hitchan ------------------------------- ----------------------------------- Gregory D. Hitchan, Gregory D. Hitchan, Partner, General Counsel and Partner, General Counsel and Secretary Secretary BLUM STRATEGIC GP, L.L.C. BLUM STRATEGIC GP II, L.L.C. By: /s/ Gregory D. Hitchan By: /s/ Gregory D. Hitchan -------------------------- ----------------------------------- Gregory D. Hitchan, Gregory D. Hitchan, Member and General Counsel Member and General Counsel