--------------------------------------------------------------------------------
SEC 1746 POTENTIAL PERSONS WHO ARE TO RESPOND TO THE COLLECTION OF INFORMATION
(11-02) CONTAINED IN THIS FORM ARE NOT REQUIRED TO RESPOND UNLESS THE FORM
DISPLAYS A CURRENTLY VALID OMB CONTROL NUMBER.
--------------------------------------------------------------------------------
OMB APPROVAL
--------------------------
OMB Number: 3235-0145
Expires: December 31, 2005
Estimated average burden
hours per response... 11
UNITED STATES
SECURITIES AND EXCHANGE
COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. ___)*
Motorcar Parts America, Inc.
(Name of Issuer)
Common Stock, par value $.01 per share
(Title of Class of Securities)
620071100
(CUSIP Number)
Midwood Capital Management LLC
Attn: David E. Cohen
One Washington Mall
8th Floor
Boston, MA 02108
617-226-2609
With a copy to:
Peter M. Rosenblum, Esq.
Foley Hoag LLP
155 Seaport Blvd.
Boston, MA 02210
617-832-1151
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
January 11, 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 that is the subject of this Schedule 13D, and is filing this
schedule because of Sections 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check
the following box. [ ]
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).
--------------------------------------------------------------------------------
CUSIP NO. 620071100 13D PAGE 2 OF 15 PAGES
--------------------------------------------------------------------------------
1. Names of Reporting Persons. I.R.S. Identification Nos. of above persons
(entities only).
David E. Cohen
--------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [ ]
(b) [ ]
--------------------------------------------------------------------------------
3. SEC Use Only
--------------------------------------------------------------------------------
4. Source of Funds (See Instructions)
OO
--------------------------------------------------------------------------------
5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d)
or 2(e)
[ ]
--------------------------------------------------------------------------------
6. Citizenship or Place of Organization
USA
--------------------------------------------------------------------------------
7. Sole Voting Power
-----------------------------------------------------------------
Number of 8. Shared Voting Power
Shares
Beneficially 416,767
Owned by -----------------------------------------------------------------
Each 9. Sole Dispositive Power
Reporting
Person With -----------------------------------------------------------------
10. Shared Dispositive Power
416,767
--------------------------------------------------------------------------------
11. Aggregate Amount Beneficially Owned by Each Reporting Person
416,767
--------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions)
[ ]
--------------------------------------------------------------------------------
13. Percent of Class Represented by Amount in Row (11)
5.1%
--------------------------------------------------------------------------------
14. Type of Reporting Person (See Instructions)
IN
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
CUSIP NO. 620071100 13D PAGE 3 OF 15 PAGES
--------------------------------------------------------------------------------
1. Names of Reporting Persons. I.R.S. Identification Nos. of above persons
(entities only).
Ross D. DeMont
--------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [ ]
(b) [ ]
--------------------------------------------------------------------------------
3. SEC Use Only
--------------------------------------------------------------------------------
4. Source of Funds (See Instructions)
OO
--------------------------------------------------------------------------------
5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d)
or 2(e)
[ ]
--------------------------------------------------------------------------------
6. Citizenship or Place of Organization
USA
--------------------------------------------------------------------------------
7. Sole Voting Power
-----------------------------------------------------------------
Number of 8. Shared Voting Power
Shares
Beneficially 416,767
Owned by -----------------------------------------------------------------
Each 9. Sole Dispositive Power
Reporting
Person With -----------------------------------------------------------------
10. Shared Dispositive Power
416,767
--------------------------------------------------------------------------------
11. Aggregate Amount Beneficially Owned by Each Reporting Person
416,767
--------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions)
[ ]
--------------------------------------------------------------------------------
13. Percent of Class Represented by Amount in Row (11)
5.1%
--------------------------------------------------------------------------------
14. Type of Reporting Person (See Instructions)
IN
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
CUSIP NO. 620071100 13D PAGE 4 OF 15 PAGES
--------------------------------------------------------------------------------
1. Names of Reporting Persons. I.R.S. Identification Nos. of above persons
(entities only).
Midwood Capital Management LLC
I.R.S. Identification No. 14-1885029
--------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [ ]
(b) [ ]
--------------------------------------------------------------------------------
3. SEC Use Only
--------------------------------------------------------------------------------
4. Source of Funds (See Instructions)
OO
--------------------------------------------------------------------------------
5. Check 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
416,767
Number of -----------------------------------------------------------------
Shares 8. Shared Voting Power
Beneficially
Owned by -----------------------------------------------------------------
Each 9. Sole Dispositive Power
Reporting
Person With 416,767
-----------------------------------------------------------------
10. Shared Dispositive Power
--------------------------------------------------------------------------------
11. Aggregate Amount Beneficially Owned by Each Reporting Person
416,767
--------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions)
[ ]
--------------------------------------------------------------------------------
13. Percent of Class Represented by Amount in Row (11)
5.1%
--------------------------------------------------------------------------------
14. Type of Reporting Person (See Instructions)
IA
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
CUSIP NO. 620071100 13D PAGE 5 OF 15 PAGES
--------------------------------------------------------------------------------
1. Names of Reporting Persons. I.R.S. Identification Nos. of above persons
(entities only).
Midwood Capital Partners, L.P.
I.R.S. Identification No. 27-0060548
--------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [ ]
(b) [ ]
--------------------------------------------------------------------------------
3. SEC Use Only
--------------------------------------------------------------------------------
4. Source of Funds (See Instructions)
OO
--------------------------------------------------------------------------------
5. Check 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
204,833
Number of -----------------------------------------------------------------
Shares 8. Shared Voting Power
Beneficially
Owned by -----------------------------------------------------------------
Each 9. Sole Dispositive Power
Reporting
Person With 204,833
-----------------------------------------------------------------
10. Shared Dispositive Power
--------------------------------------------------------------------------------
11. Aggregate Amount Beneficially Owned by Each Reporting Person
204,833
--------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions)
[ ]
--------------------------------------------------------------------------------
13. Percent of Class Represented by Amount in Row (11)
2.5%
--------------------------------------------------------------------------------
14. Type of Reporting Person (See Instructions)
PN
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
CUSIP NO. 620071100 13D PAGE 6 OF 15 PAGES
--------------------------------------------------------------------------------
1. Names of Reporting Persons. I.R.S. Identification Nos. of above persons
(entities only).
Midwood Capital Partners QP, L.P.
I.R.S. Identification No. 42-1657728
--------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [ ]
(b) [ ]
--------------------------------------------------------------------------------
3. SEC Use Only
--------------------------------------------------------------------------------
4. Source of Funds (See Instructions)
OO
--------------------------------------------------------------------------------
5. Check 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
211,934
Number of -----------------------------------------------------------------
Shares 8. Shared Voting Power
Beneficially
Owned by -----------------------------------------------------------------
Each 9. Sole Dispositive Power
Reporting
Person With 211,934
-----------------------------------------------------------------
10. Shared Dispositive Power
--------------------------------------------------------------------------------
11. Aggregate Amount Beneficially Owned by Each Reporting Person
211,934
--------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See
Instructions)
[ ]
--------------------------------------------------------------------------------
13. Percent of Class Represented by Amount in Row (11)
2.6%
--------------------------------------------------------------------------------
14. Type of Reporting Person (See Instructions)
PN
--------------------------------------------------------------------------------
CUSIP No. 620071100 Page 7 of 15
ITEM 1. SECURITY AND ISSUER
This joint statement on Schedule 13D relates to the common stock, par value $.01
per share (the "Common Stock") of Motorcar Parts America, Inc., a New York
corporation (the "Issuer"). The address of the Issuer's principal executive
offices is 2929 California St., Torrance, CA 90503.
ITEM 2. IDENTITY AND BACKGROUND
This joint statement on Schedule 13D is being filed by David E. Cohen, Ross D.
DeMont, Midwood Capital Management LLC, Midwood Capital Partners, L.P. and
Midwood Capital Partners QP, L.P., who are collectively referred to as the
"Reporting Persons." Messrs. Cohen and DeMont (the "Managers") are the managers
of Midwood Capital Management LLC ("Capital"), which is the sole general partner
of each of Midwood Capital Partners, L.P. ("LP") and Midwood Capital Partners
QP, L.P. ("QP" and together with LP, the "Funds"). By virtue of their positions,
each of the Managers has the power to vote and dispose of the shares of Common
Stock held by each of the Funds. Information with respect to each of the
Reporting Persons is as follows:
(1) (a) David E. Cohen
(b) One Washington Mall, 8th Floor, Boston, MA 02108
(c) Mr. Cohen is a manager of Capital.
(d) No
(e) No
(f) United States
(2) (a) Ross D. DeMont
(b) One Washington Mall, 8th Floor, Boston, MA 02108
(c) Mr. DeMont is a manager of Capital.
(d) No
(e) No
(f) United States
(3) (a) Midwood Capital Management LLC, a Delaware limited liability company
(b) One Washington Mall, 8th Floor, Boston, MA 02108
(c) Capital is the sole general partner of, and manages and provides
investment advice to, each of the Funds.
CUSIP No. 620071100 Page 8 of 15
(d) No
(e) No
(4) (a) Midwood Capital Partners, L.P., a Delaware limited partnership
(b) c/o Midwood Capital Management LLC, One Washington Mall, 8th Floor,
Boston, MA 02108
(c) LP is a private investment fund engaged in the business of investing
in securities.
(d) No
(e) No
(5) (a) Midwood Capital Partners QP, L.P., a Delaware limited partnership
(b) c/o Midwood Capital Management LLC, One Washington Mall, 8th Floor,
Boston, MA 02108
(c) QP is a private investment fund engaged in the business of investing
in securities.
(d) No
(e) No
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
The Reporting Persons acquired beneficial ownership of an aggregate of 416,767
shares of Common Stock for a total of $4,370,169.20 using cash from the Funds.
The shares of such Common Stock held by LP and QP are held in margin accounts
which from time to time may incur debit balances. Since other securities are
held in such margin accounts, it is impracticable to determine the amounts, if
any, borrowed with respect to such shares of Common Stock. The cost of borrowing
with respect to such margin accounts fluctuates with the broker loan rate and
the amount of the debit balance.
ITEM 4. PURPOSE OF TRANSACTION
The Reporting Persons acquired shares of the Common Stock of the Issuer based on
their belief that the Issuer's stock is undervalued and represents an attractive
investment opportunity. The Reporting Persons have engaged in the past, and may
wish to continue to engage in the future, in a constructive dialogue with
management of the Issuer ("Management"), as well as with other stockholders of
the Issuer and the Issuer's Board of Directors (the "Board of Directors"),
regarding the Issuer's business operations and new strategies to create and
maximize value for the Issuer's stockholders. The Reporting Persons intend to
review continuously their equity interest in the Issuer. Depending upon their
evaluation of the factors described below, one or more of the Reporting Persons
may from time to time purchase additional securities of the Issuer, dispose of
all or a portion of the securities then held by such Reporting Person, or cease
buying
CUSIP No. 620071100 Page 9 of 15
or selling such securities. Any such additional purchases or sales of securities
of the Issuer may be in the open market or privately negotiated transactions or
otherwise. The factors which the Reporting Persons may consider in evaluating
their equity interest in the Issuer's business include the following: (i) the
Issuer's business and prospects; (ii) the business strategy and actions of
Management and the Board of Directors to enhance the Issuer's value to its
stockholders; (iii) the performance of the Common Stock and the availability of
the Common Stock for purchase at particular price levels; (iv) the availability
and nature of opportunities to dispose of the Reporting Persons' interests; (v)
general economic conditions; (vi) stock market and money market conditions;
(vii) other business and investment opportunities available to the Reporting
Persons; and (viii) other plans and requirements of the Reporting Persons.
Depending on their assessment of the foregoing factors, the Reporting Persons
may, from time to time, modify their present intention as stated in this item 4.
Except as set forth above, the Reporting Persons do not have at this time any
specific plans which would result in (a) the acquisition of additional
securities of the Issuer or the disposition of securities of the Issuer; (b) any
extraordinary corporate transactions such as a merger, reorganization or
liquidation involving the Issuer or any of its subsidiaries; (c) any sale or
transfer of a material amount of the assets of the Issuer or of any of its
subsidiaries; (d) any change in the present Management or Board of Directors,
including any plans or proposals to change the number of term of directors or to
fill any existing vacancies on the Board of Directors; (e) any material change
in the present capitalization or dividend policy of the Issuer; (f) any other
material change in the Issuer's business or corporate structure; (g) any change
in the Issuer's charter or by-laws which may impede the acquisition of control
of the Issuer by any person; (h) the Issuer's Common Stock being delisted from a
national securities exchange or ceasing to be authorized to be quoted in an
inter-dealer quotation system or a registered national securities association;
(i) causing a class of equity securities of the Issuer to become eligible for
termination of registration pursuant to Section 12(g)(4) of the Securities
Exchange Act of 1934, as amended; or (j) any action similar to those enumerated
above.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
(a) In the aggregate, the Reporting Persons beneficially own 416,767 shares of
the Common Stock of the Issuer, representing approximately 5.1% of such class of
securities. The beneficial ownership of each Reporting Person is as follows: (i)
LP beneficially owns 204,833 shares of the Common Stock, representing
approximately 2.5% of the class, (ii) QP beneficially owns 211,934 shares of the
Common Stock, representing approximately 2.6% of the class, and (iii) Capital,
as the sole general partner of each Fund, and Messrs. Cohen and DeMont, as the
managers of Capital, each beneficially own 416,767 shares of the Common Stock of
the Issuer representing approximately 5.1% of the class. The percentage of the
Common Stock beneficially owned by each Reporting Person is based on a total of
8,208,955 shares of the Common Stock of the Issuer outstanding as of November
11, 2005, as reported in the most recent quarterly report of the Issuer on Form
10-Q for the quarter ended September 30, 2005.
CUSIP No. 620071100 Page 10 of 15
(b) By virtue of their positions as managers of Capital, each of the Managers
has the shared authority to vote and dispose of the shares of Common Stock
reported in this joint statement Schedule 13D.
(c) The following transactions in the Common Stock were conducted by Reporting
Persons from November 12, 2005 (60 days prior to the event which requires the
filing of this statement) to the date hereof:
NO. OF SHARES PURCHASE/(SALE)
PERSON DATE PURCHASED/(SOLD) PRICE PER SHARE
------ ---------- ---------------- ---------------
Midwood Capital Partners, L.P. 11/21/2005 2970 $ 9.70
11/23/2005 1856 $ 9.64
11/28/2005 1856 $ 9.65
11/30/2005 14969 $ 9.90
12/01/2005 10175 $10.03
12/02/2005 6371 $10.00
12/07/2005 2080 $10.03
12/12/2005 2205 $10.08
12/21/2005 909 $10.00
12/27/2005 4613 $10.00
01/04/2006 3846 $10.09
01/05/2006 1770 $10.10
01/06/2006 2412 $10.13
01/09/2006 4276 $10.24
01/10/2006 4915 $10.26
01/11/2006 2703 $10.16
01/12/2006 2654 $10.20
Midwood Capital Partners QP, L.P. 11/21/2005 3530 $ 9.70
11/23/2005 2144 $ 9.64
11/28/2005 2144 $ 9.65
11/30/2005 14969 $ 9.90
12/01/2005 9825 $10.03
12/02/2005 6129 $10.00
12/07/2005 1920 $10.03
12/12/2005 2095 $10.08
12/21/2005 1091 $10.00
12/27/2005 4387 $10.00
12/28/2005 3000 $10.00
12/29/2005 1000 $10.05
01/03/2006 8000 $10.06
CUSIP No. 620071100 Page 11 of 15
01/04/2006 7154 $10.09
01/05/2006 1830 $10.10
01/06/2006 2588 $10.13
01/09/2006 4424 $10.24
01/10/2006 5085 $10.26
01/11/2006 2797 $10.16
01/12/2006 2746 $10.20
Each of the above listed transactions was conducted in the ordinary course of
business via ordinary brokerage transactions on the open market for cash.
Purchase and sale prices do not reflect brokerage commissions paid.
(d) N/A
(e) N/A
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO
SECURITIES OF THE ISSUER
Except for matters described in this Schedule 13D, including the Exhibits
attached hereto, there are no contracts, arrangements, understandings, or
relationships (legal or otherwise) among the Reporting Persons, or between any
Reporting Person(s) and any third party, with respect to any securities of the
Issuer, including, but not limited to, transfer or voting any of the securities,
finder's fees, joint ventures, loan or option arrangements, put or calls,
guarantees of profits, division of profits or losses, or the giving or
withholding of proxies.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
Exhibit 1 Joint Filing Agreement by and among David E. Cohen, Ross D. DeMont,
Midwood Capital Management LLC, Midwood Capital Partners, L.P. and Midwood
Capital Partners QP, L.P. dated January 17, 2006.
CUSIP No. 279765101 Page 14 of 15
Signature
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
DATE: January 17, 2006
MIDWOOD CAPITAL PARTNERS, L.P.
By: Midwood Capital Management LLC
General Partner
By: /s/ David E. Cohen
------------------------------------
David E. Cohen
Manager
MIDWOOD CAPITAL PARTNERS QP, L.P.
By: Midwood Capital Management LLC
General Partner
By: /s/ David E. Cohen
------------------------------------
David E. Cohen
Manager
MIDWOOD CAPITAL MANAGEMENT LLC
By: /s/ David E. Cohen
------------------------------------
David E. Cohen
Manager
CUSIP No. 620071100 Page 13 of 15
DAVID E. COHEN
By: /s/ David E. Cohen
------------------------------------
David E. Cohen
ROSS D. DEMONT
By: /s/ Ross D. DeMont
------------------------------------
Ross D. DeMont
CUSIP No. 279765101 Page 14 of 15
JOINT FILING AGREEMENT
Pursuant to Rule 13d-1(k)(1) under the Securities Exchange Act of 1934, as
amended, the undersigned hereby agree, as of January 17, 2006, that only one
statement containing the information required by Schedule 13D, and each
amendment thereto, need be filed with respect to the ownership by each of the
undersigned of shares of common stock of Edgar Online, Inc., and such statement
to which this Joint Filing Agreement is attached as Exhibit 1 is filed on behalf
of each of the undersigned.
MIDWOOD CAPITAL PARTNERS, L.P.
By: Midwood Capital Management LLC
General Partner
By: /s/ David E. Cohen
------------------------------------
David E. Cohen
Manager
MIDWOOD CAPITAL PARTNERS QP, L.P.
By: Midwood Capital Management LLC
General Partner
By: /s/ David E. Cohen
------------------------------------
David E. Cohen
Manager
MIDWOOD CAPITAL MANAGEMENT LLC
By: /s/ David E. Cohen
------------------------------------
David E. Cohen
Manager
CUSIP No. 620071100 Page 15 of 15
DAVID E. COHEN
By: /s/ David E. Cohen
------------------------------------
David E. Cohen
ROSS D. DEMONT
By: /s/ Ross D. DeMont
------------------------------------
Ross D. DeMont