0001144204-11-036849.txt : 20110621 0001144204-11-036849.hdr.sgml : 20110621 20110621172832 ACCESSION NUMBER: 0001144204-11-036849 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20110621 DATE AS OF CHANGE: 20110621 GROUP MEMBERS: CHANNEL PARTNERSHIP II, L.P. GROUP MEMBERS: JOSHUA LANDES GROUP MEMBERS: NELSON OBUS GROUP MEMBERS: WYNNEFIELD CAPITAL MANAGEMENT, LLC. GROUP MEMBERS: WYNNEFIELD CAPITAL, INC. GROUP MEMBERS: WYNNEFIELD PARTNERS SMALL CAP VALUE L.P. I GROUP MEMBERS: WYNNEFIELD SMALL CAP VALUE OFFSHORE FUND, LTD. SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: BREEZE-EASTERN CORP CENTRAL INDEX KEY: 0000099359 STANDARD INDUSTRIAL CLASSIFICATION: AIRCRAFT PART & AUXILIARY EQUIPMENT, NEC [3728] IRS NUMBER: 954062211 STATE OF INCORPORATION: DE FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: SC 13D SEC ACT: 1934 Act SEC FILE NUMBER: 005-38259 FILM NUMBER: 11924196 BUSINESS ADDRESS: STREET 1: 35 MELANIE LANE CITY: WHIPPANY STATE: NJ ZIP: 07981 BUSINESS PHONE: 973 602 1001 MAIL ADDRESS: STREET 1: 35 MELANIE LANE CITY: WHIPPANY STATE: NJ ZIP: 07981 FORMER COMPANY: FORMER CONFORMED NAME: TRANSTECHNOLOGY CORP. DATE OF NAME CHANGE: 20061006 FORMER COMPANY: FORMER CONFORMED NAME: BREEZE-EASTERN CORP DATE OF NAME CHANGE: 20061005 FORMER COMPANY: FORMER CONFORMED NAME: TRANSTECHNOLOGY CORP DATE OF NAME CHANGE: 19920703 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: WYNNEFIELD PARTNERS SMALL CAP VALUE LP CENTRAL INDEX KEY: 0000899083 IRS NUMBER: 133688497 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: 450 SEVENTH AVENUE STREET 2: SUITE 509 CITY: NEW YORK STATE: NY ZIP: 10123 BUSINESS PHONE: 212-760-0814 MAIL ADDRESS: STREET 1: 450 SEVENTH AVENUE STREET 2: SUITE 509 CITY: NEW YORK STATE: NY ZIP: 10123 SC 13D 1 v226364_sc13d.htm Unassociated Document


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
SCHEDULE 13D
 
Under the Securities Exchange Act of 1934
 
 
BREEZE-EASTERN CORPORATION 

(Name of Issuer)
 
COMMON STOCK, $0.01 PAR VALUE
(Title of Class of Securities)
 
106764103 

(CUSIP Number)
 
Wynnefield Partners Small Cap Value, L.P.
450 Seventh Avenue, Suite 509
New York, New York 10123
Attention: Mr. Nelson Obus
 
Copy to:
Jeffrey S. Tullman, Esq.
Kane Kessler, P.C.
1350 Avenue of the Americas, 26th Floor
New York, New York 10019
(212) 541-6222

(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
 
June 16, 2011

(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 §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box o (See explanatory note to this Schedule 13D)

 
 

 
 
 CUSIP No. 106764103
 13D
 Page 1 of 14 Pages
 
1
NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
 
Wynnefield Partners Small Cap Value, L.P.
13-3688497
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) x
(b) o
3
SEC USE ONLY
4
SOURCE OF FUNDS*
 
WC
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) o
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
 
Delaware
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
7
SOLE VOTING POWER 
 
549,937      (See Item 5)
8
SHARED VOTING POWER
 
0      (See Item 5)
9
SOLE DISPOSITIVE POWER 
 
549,937      (See Item 5)
10
SHARED DISPOSITIVE POWER
 
0      (See Item 5)
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
549,937    (See Item 5)
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES o
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.8%
14
TYPE OF REPORTING PERSON
 
PN



 
 

 
 
 CUSIP No. 106764103
 13D
 Page 2 of 14 Pages
 
1
NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
 
Wynnefield Small Cap Value Offshore Fund, Ltd.
(No IRS Identification No.)
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) x
(b) o
3
SEC USE ONLY
4
SOURCE OF FUNDS*
 
WC
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) o
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
 
Cayman Islands
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
7
SOLE VOTING POWER 
 
722,609      (See Item 5)
8
SHARED VOTING POWER
 
0      (See Item 5)
9
SOLE DISPOSITIVE POWER 
 
722,609      (See Item 5)
10
SHARED DISPOSITIVE POWER
 
0      (See Item 5)
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
722,609      (See Item 5)
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES  o
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.7%
14
TYPE OF REPORTING PERSON
 
CO


 
 
 

 
 
 CUSIP No. 106764103
 13D
 Page 3 of 14 Pages
 
1
NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
 
Wynnefield Partners Small Cap Value L.P.I
13-3953291
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) x
(b) o
3
SEC USE ONLY
 
4
SOURCE OF FUNDS*
 
WC
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) o
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
 
Delaware
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
7
SOLE VOTING POWER 
 
806,965      (See Item 5)
8
SHARED VOTING POWER
 
0      (See Item 5)
9
SOLE DISPOSITIVE POWER 
 
806,965      (See Item 5)
10
SHARED DISPOSITIVE POWER
 
0      (See Item 5)
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
806,965      (See Item 5)
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES o
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.5%
14
TYPE OF REPORTING PERSON
 
PN


 
 
 

 
 
 CUSIP No. 106764103
 13D
 Page 4 of 14 Pages
 
1
NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
 
Channel Partnership II, L.P.
22-3215653
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) x
(b) o
3
SEC USE ONLY
4
SOURCE OF FUNDS*
 
WC
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) o
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
 
New York
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
7
SOLE VOTING POWER 
 
38,400      (See Item 5)
8
SHARED VOTING POWER
 
0      (See Item 5)
9
SOLE DISPOSITIVE POWER 
 
38,400      (See Item 5)
10
SHARED DISPOSITIVE POWER
 
0      (See Item 5)
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
38,400      (See Item 5)
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES o
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.4%
14
TYPE OF REPORTING PERSON
 
PN

 
 
 
 

 
 
 CUSIP No. 106764103
 13D
 Page 5 of 14 Pages
 
1
NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
 
Wynnefield Capital Management, LLC
 13-4018186
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) x
 
(b) o
3
SEC USE ONLY
4
SOURCE OF FUNDS*
 
N/A
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) o
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
 
New York
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
7
SOLE VOTING POWER 
 
1,356,902      (See Item 5)
8
SHARED VOTING POWER
 
0      (See Item 5)
9
SOLE DISPOSITIVE POWER 
 
1,356,902      (See Item 5)
10
SHARED DISPOSITIVE POWER
 
0      (See Item 5)
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,356,902      (See Item 5)
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES o
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
14.4%
14
TYPE OF REPORTING PERSON
 
OO

 
 
 
 

 
 
 CUSIP No. 106764103
 13D
 Page 6 of 14 Pages
 
1
NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
 
Wynnefield Capital, Inc.
13-3688495
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) x
 
(b) o
3
SEC USE ONLY
4
SOURCE OF FUNDS*
 
N/A
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) o
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
 
Delaware
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
7
SOLE VOTING POWER 
 
722,609      (See Item 5)
8
SHARED VOTING POWER
 
0      (See Item 5)
9
SOLE DISPOSITIVE POWER 
 
722,609      (See Item 5)
10
SHARED DISPOSITIVE POWER
 
0      (See Item 5)
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
722,609      (See Item 5)
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES o
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.7%
14
TYPE OF REPORTING PERSON
 
CO
 
 
 
 
 

 
 
 CUSIP No. 106764103
 13D
 Page 7 of 14 Pages
 
1
NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
 
Nelson Obus
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) x
 
(b) o
3
SEC USE ONLY
4
SOURCE OF FUNDS*
 
N/A
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) o
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
 
United States
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
7
SOLE VOTING POWER 
 
38,400      (See Item 5)
8
SHARED VOTING POWER
 
2,079,511      (See Item 5)
9
SOLE DISPOSITIVE POWER 
 
38,400      (See Item 5)
10
SHARED DISPOSITIVE POWER
 
2,079,511      (See Item 5)
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,117,911     (See Item 5)
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES  o
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
22.4%
14
TYPE OF REPORTING PERSON
 
IN
 
 
 
 

 
 
 CUSIP No. 106764103
 13D
 Page 8 of 14 Pages
 
1
NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
 
Joshua Landes
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) x
 
(b) o
3
SEC USE ONLY
4
SOURCE OF FUNDS*
 
N/A
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) o
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
 
United States
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
7
SOLE VOTING POWER 
 
0      (See Item 5)
8
SHARED VOTING POWER
 
2,079,511      (See Item 5)
9
SOLE DISPOSITIVE POWER 
 
0      (See Item 5)
10
SHARED DISPOSITIVE POWER
 
2,079,511      (See Item 5)
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,079,511      (See Item 5)
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES o
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
22.0%
14
TYPE OF REPORTING PERSON
 
IN
 
 
 
 

 
 
 CUSIP No. 106764103
 13D
 Page 9 of 14 Pages
 
EXPLANATORY NOTES

Certain of the shares of the Issuer’s common stock, par value $0.01, to which this Schedule 13D relates were previously reported by the Wynnefield Reporting Persons (as defined below) on a Schedule 13D jointly filed with other reporting persons as members of a group, the last amendment of which was filed with the Securities and Exchange Commission (the “Commission”) on August 9, 2007 to report that, among other things, such group was terminated.
 
Item 1. Security and Issuer.

This Schedule 13D (the “Schedule 13D”) relates to the shares of common stock, $0.01 par value (the "Shares") of Breeze-Eastern Corporation (the “Issuer”), whose principal executive offices are located at 700 Liberty Avenue, Union, New Jersey 07083.

Item 2. Identity and Background.
 
(a), (b), (c) and (f). The “Wynnefield Reporting Persons” are Wynnefield Partners Small Cap Value, L.P. (“Wynnefield Partners”), Wynnefield Small Cap Value Offshore Fund, Ltd. (“Wynnefield Offshore”), Wynnefield Partners Small Cap Value, L.P. I (“Wynnefield Partners I”), Channel Partnership II L.P. (“Channel”), Wynnefield Capital Management, LLC (“WCM”), Wynnefield Capital, Inc. (“WCI”), Nelson Obus and Joshua Landes. The Wynnefield Reporting Persons are each separate and distinct entities with different beneficial owners (whether designated as limited partners or stockholders).

WCM, a New York limited liability company, is the general partner of Wynnefield Partners and Wynnefield Partners I, private investment companies organized as limited partnerships under the laws of the State of Delaware. Messrs. Obus and Landes are the managing members of WCM and the principal executive officers of WCI, a Delaware corporation, the investment manager of Wynnefield Offshore, a private investment company organized under the laws of the Cayman Islands. Channel is a New York limited partnership, the general partner of which is Mr. Obus. Messrs. Obus and Landes are citizens of the United States.
 
The business address of the Wynnefield Reporting Persons is 450 Seventh Avenue, Suite 509, New York, New York 10123.

(d) and (e). During the last five years, none of the Wynnefield Reporting Persons have been (i) convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or (ii) 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 3. Source and Amount of Funds or Other Consideration.
 
Wynnefield Reporting Persons.

The securities reported in this Schedule 13D as directly beneficially owned by the Wynnefield Reporting Persons were acquired with funds of approximately $18,575,780 (including brokerage commissions). All such funds were provided from the working capital or personal funds of the Wynnefield Reporting Person who directly beneficially owns such securities.
 
 
 
 

 
 
 CUSIP No. 106764103
 13D
 Page 10 of 14 Pages
 
Item 4. Purpose of Transaction.

The Wynnefield Reporting Persons acquired the Shares in response to the recent significant accumulation of Shares by Tinicum Capital Partners II, L.P. and Tinicum Capital Partners II Parallel Fund, L.P. (collectively, "Tinicum") as reported in Tinicum's amended Schedule 13D filed with the Commission on June 15, 2011, in order to maintain, as much as possible, the existing status quo in the share ownerships of the Wynnefield Reporting Persons and Tinicum, which, in the view of the Wynnefield Reporting Persons, would be beneficial to all shareholders of the Issuer and would preserve shareholder value. The Wynnefield Reporting Persons intend to discuss with the Issuer the adoption of shareholder protective measures that would be designed to enhance shareholder value for the benefit of all of the Issuer's shareholders. The Wynnefield Reporting Persons also intend to have discussions with the Issuer, as well as with other stockholders of the Issuer, including Tinicum, with respect to the composition of the Issuer's Board of Directors (the "Board").  Although there can be no assurance given as to the outcome of any such discussions, it will be the objective of the Wynnefield Reporting Persons to have a slate of directors nominated for the upcoming annual meeting of stockholders of the Issuer (the "Annual Meeting") that is mutually acceptable to the Issuer, the Wynnefield Reporting Persons and Tinicum which, in the view of the Wynnefield Reporting Persons, would be in the best interests of all of the Issuer's stockholders.  In the event that the Wynnefield Reporting Persons, the Issuer and Tinicum are unable to reach a mutually agreeable solution as to the composition of the Issuer's Board, then the Wynnefield Reporting Persons will evaluate their alternatives, including, without limitation, nominating their own slate of directors for election to the Issuer's Board at the Annual Meeting.

Other than as set forth in this Item 4, the Wynnefield Reporting Persons do not have any current plans, proposals or negotiations that relate to or would result in any of the matters referred to in paragraphs (a) through (j) of Item 4 of the Schedule 13D. The Wynnefield Reporting Persons intend to review their investment in the Issuer on a continuing basis, and to the extent permitted by law, may seek to engage in discussions with other stockholders and/or with management and the Board of Directors of the Issuer concerning the business, operations or future plans of the Issuer. Depending on various factors including, without limitation, the Issuer's financial position, the price levels of the Shares, conditions in the securities markets and general economic and industry conditions, the Wynnefield Reporting Persons may,  in the future take such actions with respect to their investment in the Issuer as they deem appropriate including, without limitation, purchasing additional Shares, selling Shares, engaging in short selling of or any hedging or similar transaction with respect to the Shares, taking any other action with respect to the Issuer or any of its securities in any manner permitted by law or changing their intention with respect to any and all matters referred to in paragraphs (a) through (j) of Item 4. The Wynnefield Reporting Persons reserve the right to take whatever future action they deem appropriate regarding the Issuer and its securities under the circumstances as they then exist.

Item 5. Interest in Securities of the Issuer.
 
As of June 16, 2011, the Wynnefield Reporting Persons may be deemed to beneficially own collectively an aggregate of 2,117,911 Shares constituting approximately 22.4% of the outstanding Shares (the percentage of shares owned being based upon 9,441,536 Shares outstanding as of May 1, 2011, as set forth in the Issuer’s most recent report on Form 10-K for the year ended March 31, 2011, filed with the Commission on June 3, 2011).
 
Wynnefield Reporting Persons.

(a) - (d). As of June 16, 2011, the Wynnefield Reporting Persons beneficially owned in the aggregate 2,117,911 Shares, constituting approximately 22.4% of the outstanding Shares (the percentage of shares owned being based upon 9,441,536 Shares outstanding as of May 1, 2011, as set forth in the Issuer’s most recent report on Form 10-K for the year ended March 31, 2011, filed with the Commission on June 3, 2011). The following table sets forth certain information with respect to Shares directly beneficially owned by the Wynnefield Reporting Persons listed below:
 
Name
Number of Shares
Percentage of Outstanding Shares
Wynnefield Partners
549,937
5.8%
Wyynefield Partners I
806,965
8.5%
Wynnefield Offshore
722,609
7.7%
Channel
38,400
0.4%
 
 
 

 
 
 CUSIP No. 106764103
 13D
 Page 11 of 14 Pages
 
WCM is the sole general partner of Wynnefield Partners and Wynnefield Partners I and, accordingly, may be deemed to be the indirect beneficial owner (as that term is defined under Rule 13d-3 under the Securities Exchange Act of 1934, as amended (the "Exchange Act") of the Shares that Wynnefield Partners and Wynnefield Partners I beneficially own. WCM, as the sole general partner of Wynnefield Partners and Wynnefield Partners I, has the sole power to direct the voting and disposition of the Shares that Wynnefield Partners and Wynnefield Partners I beneficially own. Messrs. Obus and Landes are the co-managing members of WCM and, accordingly, each of Messrs. Obus and Landes may be deemed to be the indirect beneficial owner (as that term is defined under Rule 13d-3 under the Exchange Act) of the Shares that WCM may be deemed to beneficially own.
 
Each of Messrs. Obus and Landes, as co-managing members of WCM, shares with the other the power to direct the voting and disposition of the Shares that WCM may be deemed to beneficially own. WCI is the sole investment manager of Wynnefield Offshore and, accordingly, may be deemed to be the indirect beneficial owner (as that term is defined under Rule 13d-3 under the Exchange Act) of the Shares that Wynnefield Offshore beneficially owns.
 
WCI as the sole investment manager of Wynnefield Offshore, has the sole power to direct the voting and disposition of the Shares that Wynnefield Offshore beneficially owns. Messrs. Obus and Landes are executive officers of WCI and, accordingly, each of Messrs. Obus and Landes may be deemed to be the indirect beneficial owner (as that term is defined under Rule 13d-3 under the Exchange Act) of the Shares that WCI may be deemed to beneficially own. Each of Messrs. Obus and Landes, as executive officers of WCI, shares with the other the power to direct the voting and disposition of the Shares that WCI may be deemed to beneficially own.
 
Mr. Obus is the general partner of Channel and accordingly, Mr. Obus may be deemed to be the indirect beneficial owner (as that term is defined under Rule 13d-3 under the Exchange Act) of the Shares that Channel may be deemed to beneficially own. Mr. Obus, as the general partner of Channel, has the sole power to direct the voting and disposition of the Shares beneficially owned by Channel.
 
Beneficial ownership of the Shares shown on the cover pages of and set forth elsewhere in this Schedule 13D for each member of the Wynnefield Reporting Persons assumes that they have not formed a group for purposes of Section 13(d)(3) under the Exchange Act, and Rule 13d-5(b)(1) promulgated thereunder. If the members of the Wynnefield Reporting Persons were deemed to have formed a group for purposes of Section 13(d)(3) and Rule 13d-5(b)(1), the group would be deemed to own beneficially (and may be deemed to have shared voting and dispositive power over) 2,117,911 Shares, constituting approximately 22.4% of the outstanding Shares (the percentage of shares owned being based upon 9,441,536 Shares outstanding as of May 1, 2011, as set forth in the Issuer’s most recent report on Form 10-K for the year ended March 31, 2011, filed with the Commission on June 3, 2011).
 
The filing of this Schedule 13D and any future amendment by the Wynnefield Reporting Persons, and the inclusion of information herein and therein with respect to WCM, WCI and Messrs. Obus and Landes, shall not be considered an admission that any of such persons, for the purpose of Section 16(b) of the Exchange Act, are the beneficial owners of any Shares in which such persons do not have a pecuniary interest. Each of WCM, WCI and Messrs. Obus and Landes disclaims any beneficial ownership of the Shares covered by this Schedule 13D.
  
Except as set forth below, to the best knowledge of the Wynnefield Reporting Persons, except as described in this Schedule 13D, none of the Wynnefield Reporting Persons, any person in control (ultimately or otherwise) of the Wynnefield Reporting Persons, any general partner, executive officer or director thereof, as applicable, beneficially owns any Shares, and there have been no transactions in the Shares affected during the past 60 days, by the Wynnefield Reporting Persons, any person in control of the Wynnefield Reporting Persons (ultimately or otherwise), or any general partner, executive officer or director thereof, as applicable.
 
 

 
 
 CUSIP No. 106764103
 13D
 Page 12 of 14 Pages
 
The Wynnefield Reporting Persons have purchased Shares during the last 60 days, as follows, each of which was made in a broker’s transaction in the open market (prices do not reflect brokerage commissions).
 
Name
Date
Number of Common Shares
Price Per Share
Wynnefield Partners
June 16, 2011
31,604
$9.34
Wynnefield Partners I
June 16, 2011
45,820
$9.34
Wynnefield Offshore
June 16, 2011
24,854
$9.34
 
 
 
 

 
 
 CUSIP No. 106764103
 13D
 Page 13 of 14 Pages
 
(e). Not applicable.
 
Item 6. Contracts, Arrangements, Understandings or Relationship With Respect to Securities of the Issuer.
 
None.
 
Item 7. Material to be Filed as Exhibits.

Exhibit 1      Joint Filing Agreement, dated as of June 21, 2011.
 
 
 

 
 
 CUSIP No. 106764103
 13D
 Page 14 of 14 Pages
 
SIGNATURE
 
After reasonable inquiry and to the best of their knowledge and belief, the undersigned certify that the information set forth in this Schedule 13D is true, complete and correct.
 
Dated: June 21, 2011
 
WYNNEFIELD PARTNERS SMALL CAP VALUE, L.P.

By: Wynnefield Capital Management, LLC,
its General Partner
 
By: /s/ Nelson Obus                                     
Nelson Obus, Co-Managing Member
 
WYNNEFIELD PARTNERS SMALL CAP VALUE, L.P., I
 
By: Wynnefield Capital Management, LLC,
its General Partner
 
By: /s/ Nelson Obus                                     
Nelson Obus, Co-Managing Member
 
WYNNEFIELD SMALL CAP VALUE OFFSHORE FUND, LTD.
 
By: Wynnefield Capital, Inc.,
its Investment Manager

By: /s/ Nelson Obus                                     
Nelson Obus, President
 
WYNNEFIELD CAPITAL MANAGEMENT, LLC
 
By: /s/ Nelson Obus                                     
      Nelson Obus, Co-Managing Member
 
WYNNEFIELD CAPITAL, INC.
 
By: /s/ Nelson Obus                                     
Nelson Obus, President

CHANNEL PARTNERSHIP II, L.P.

By: /s/ Nelson Obus                                     
      Nelson Obus, General Partner

/s/ Nelson Obus                                            
Nelson Obus, Individually

/s/ Joshua H. Landes                                    
Joshua H. Landes, Individually
 
 
 
 
 

EX-99.1 2 v226364_ex99-1.htm Unassociated Document
JOINT FILING AGREEMENT

This JOINT FILING AGREEMENT (this “Agreement”) is made and entered into as of this 21st day of June, 2011, by and among Wynnefield Partners Small Cap Value, L.P., Wynnefield Partners Small Cap Value, L.P.I, Wynnefield Small Cap Value Offshore Fund, Ltd., Wynnefield Capital Management LLC, Wynnefield Capital Inc., Channel Partnership II, L.P., Nelson Obus, and Joshua Landes.

           The parties to this Agreement hereby agree to prepare jointly and file timely (or otherwise to deliver as appropriate) all filings on Schedule 13D and Schedule 13G (the “Filings”) required to be filed by them pursuant to Section 13(d) or 13(g) under the Securities Exchange Act of 1934, as amended, with respect to their respective ownership of the common stock of Breeze-Eastern Corporation, a Delaware corporation, that are required to be reported on any Filings. Each party to this Agreement further agrees and covenants to the other parties that it will fully cooperate with such other parties in the preparation and timely filing (and other delivery) of all such Filings.

[signature pages follow]
 
 
 
 

 
 
IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first set forth above.
 
 
WYNNEFIELD PARTNERS SMALL CAP VALUE, L.P.

By: Wynnefield Capital Management, LLC,
its General Partner
 
 
By: /s/ Nelson Obus                                
Nelson Obus, Co-Managing Member
 
 
WYNNEFIELD PARTNERS SMALL CAP VALUE, L.P., I
 
 
By: Wynnefield Capital Management, LLC, its General Partner
 
 
By: /s/ Nelson Obus                                
Nelson Obus, Co-Managing Member
 
 
WYNNEFIELD SMALL CAP VALUE OFFSHORE FUND, LTD.
 
 
By: Wynnefield Capital, Inc., its Investment Manager

By: /s/ Nelson Obus                                
Nelson Obus, President
 
 
WYNNEFIELD CAPITAL MANAGEMENT, LLC
 
 
By: /s/ Nelson Obus                                
      Nelson Obus, Co-Managing Member
 
 
WYNNEFIELD CAPITAL, INC.
 
 
By: /s/ Nelson Obus                                
      Nelson Obus, President

CHANNEL PARTNERSHIP II, L.P.

By: /s/ Nelson Obus                                
       Nelson Obus, General Partner


By: /s/ Nelson Obus                                
Nelson Obus, Individually

/s/ Joshua H. Landes                                
Joshua H. Landes, Individually