sec document
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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SCHEDULE 13D
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
RULE 13d-2(a)
(Amendment No. 12)1
SL INDUSTRIES, INC.
-------------------
(Name of Issuer)
COMMON STOCK, $.20 PAR VALUE
----------------------------
(Title of Class of Securities)
784413106
---------
(CUSIP Number)
STEVEN WOLOSKY, ESQ.
OLSHAN GRUNDMAN FROME ROSENZWEIG & WOLOSKY LLP
505 Park Avenue
New York, New York 10022
(212) 753-7200
--------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
August 27, 2003
---------------
(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 Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the
following box / /.
Note. Schedules filed in paper format shall include a signed
original and five copies of the schedule, including all exhibits. See Rule 13d-7
for other parties to whom copies are to be sent.
(Continued on following pages)
(Page 1 of 12 Pages)
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1 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 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).
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CUSIP No. 784413106 13D Page 2 of 12 pages
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================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
STEEL PARTNERS II, L.P.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 1,361,450
OWNED BY
EACH
REPORTING
PERSON WITH -----------------------------------------------------------------
8 SHARED VOTING POWER
- 0 -
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
1,361,450
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- 0 -
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
1,361,450
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
23%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP No. 784413106 13D Page 3 of 12 pages
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================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
STEEL PARTNERS, L.L.C.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 1,361,450
OWNED BY
EACH
REPORTING
PERSON WITH -----------------------------------------------------------------
8 SHARED VOTING POWER
- 0 -
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
1,361,450
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- 0 -
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
1,361,450
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
23%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP No. 784413106 13D Page 4 of 12 pages
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================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
WARREN G. LICHTENSTEIN
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
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3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO, PF
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 1,371,750
OWNED BY
EACH
REPORTING
PERSON WITH -----------------------------------------------------------------
8 SHARED VOTING POWER
- 0 -
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
1,371,750
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- 0 -
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
1,371,750
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
23.2%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP No. 784413106 13D Page 5 of 12 pages
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================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
GLEN KASSAN
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY - 0 -
OWNED BY
EACH
REPORTING
PERSON WITH -----------------------------------------------------------------
8 SHARED VOTING POWER
- 0 -
-----------------------------------------------------------------
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*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP No. 784413106 13D Page 6 of 12 pages
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================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
JAMES R. HENDERSON
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
--------------------------------------------------------------------------------
3 SEC USE ONLY
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4 SOURCE OF FUNDS*
OO
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 20,824
OWNED BY
EACH
REPORTING
PERSON WITH -----------------------------------------------------------------
8 SHARED VOTING POWER
- 0 -
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
20,824
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- 0 -
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
20,824
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Less than 1%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP No. 784413106 13D Page 7 of 12 pages
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The following constitutes Amendment No. 12 ("Amendment No. 12") to
the Schedule 13D filed by the undersigned. This Amendment No. 12 amends the
Schedule 13D as specifically set forth.
Item 2(a) - (c) is hereby amended and restated to read as follows:
Item 2. Identity and Background.
-----------------------
(a) This statement is filed by Steel Partners II, L.P., a Delaware
limited partnership ("Steel Partners II"), Steel Partners, L.L.C., a Delaware
limited liability company ("Partners LLC"), Warren G. Lichtenstein, Glen Kassan
and James R. Henderson. Mr. Lichtenstein is Chairman of the Board and Chief
Executive Officer of the Issuer, Mr. Kassan is a director and President of the
Issuer and Mr. Henderson is a director of the Issuer. Each of the foregoing are
referred to as a "Reporting Person" and collectively as the "Reporting Persons."
Partners LLC is the general partner of Steel Partners II. The sole
executive officer and managing member of Partners LLC is Warren G. Lichtenstein,
who is Chairman of the Board, Chief Executive Officer and Secretary. By virtue
of his positions with Partners LLC and Steel Partners II, Mr. Lichtenstein has
the power to vote and dispose of the Issuer's Shares owned by Steel Partners II.
James R. Henderson and Glen Kassan are employees of Steel Partners Services,
Ltd., an affiliate of Steel Partners II. Each of the Reporting Persons is party
to a certain Joint Filing Agreement, a copy of which is attached as an exhibit
hereto. Accordingly, the Reporting Persons are hereby filing a joint Schedule
13D.
(b) The principal business address of each Reporting Person is 590
Madison Avenue, 32nd Floor, New York, New York 10022.
(c) The principal business of Steel Partners II is investing in the
securities of small cap companies. The principal occupation of Messrs.
Lichtenstein, Henderson and Kassan is investing in the securities of small cap
companies. The principal business of Partners LLC is acting as the general
partner of Steel Partners II.
Item 3 is hereby amended and restated as follows:
(a) The aggregate purchase price of the 1,361,450 Shares of Common
Stock owned by Steel Partners II is $9,751,231, including brokerage commissions.
The Shares of Common Stock owned by Steel Partners II were acquired with
partnership funds. The aggregate purchase price of the 10,300 Shares of Common
Stock purchased by Mr. Lichtenstein is approximately $37,509 and came from his
personal funds.
(b) Mr. Henderson owns options to purchase 20,824 Shares of Common
Stock which were issued to him in his capacity as a director of the Issuer.
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CUSIP No. 784413106 13D Page 8 of 12 pages
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Item 5(a) - (b) is hereby amended and restated as follows:
(a)-(b) The aggregate percentage of Shares of Common Stock reported
owned by each person named herein is based upon 5,923,541 Shares outstanding,
which is the total number of Shares of Common Stock outstanding as reported in
the Issuer's Quarterly Report on Form 10-Q for the fiscal quarter ended June 30,
2003.
As of the close of business on September 4, 2003, Steel Partners II
beneficially owned 1,361,450 Shares of Common Stock, constituting approximately
23% of the Shares outstanding. As the general partner of Steel Partners II,
Partners LLC may be deemed to beneficially own the 1,361,450 Shares of Common
Stock owned by Steel Partners II, constituting approximately 23% of the Shares
outstanding. As the sole executive officer and managing member of Partners LLC,
which in turn is the general partner of Steel Partners II, Mr. Lichtenstein may
be deemed to beneficially own the 1,361,450 Shares of Common Stock owned by
Steel Partners II, which, together with the 10,300 Shares of Common Stock owned
directly by Mr. Lichtenstein, constitute approximately 23.2% of the Shares
outstanding. Mr. Lichtenstein has sole voting and dispositive power with respect
to the 10,300 Shares owned directly by him and the 1,361,450 Shares owned by
Steel Partners II by virtue of his authority to vote and dispose of such Shares.
As of the close of business on September 4, 2003, Mr. Henderson
beneficially owned 20,824 Shares of Common Stock issuable upon the exercise of
options, constituting less than 1% of the Shares outstanding.
Mr. Kassan currently does not beneficially own any Shares of Common
Stock.
Item 5(c) is hereby amended to add the following:
Schedule A annexed hereto lists all transactions in the Issuer's
Common Stock since the filing of Amendment No. 11 to the Schedule 13D. All of
such transactions were effected in the open market.
Item 7 is hereby amended to add the following exhibit:
8. Joint Filing Agreement by and among Steel Partners II, L.P.,
Steel Partners, L.L.C., Warren G. Lichtenstein, Glen Kassan and
James R. Henderson, dated as of September 5, 2003.
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CUSIP No. 784413106 13D Page 9 of 12 pages
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SIGNATURES
After reasonable inquiry and to the best of his knowledge and
belief, each of the undersigned certifies that the information set forth in this
statement is true, complete and correct.
Dated: September 5, 2003 STEEL PARTNERS II, L.P.
By: Steel Partners, L.L.C.,
General Partner
By: /s/ Warren G. Lichtenstein
----------------------------------------
Warren G. Lichtenstein,
Chief Executive Officer
STEEL PARTNERS, L.L.C.
By: /s/ Warren G. Lichtenstein
----------------------------------------
Warren G. Lichtenstein,
Chief Executive Officer
/s/ Warren G. Lichtenstein
--------------------------------------------
WARREN G. LICHTENSTEIN
/s/ Glen Kassan
--------------------------------------------
GLEN KASSAN
/s/ James R. Henderson
--------------------------------------------
JAMES R. HENDERSON
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CUSIP No. 784413106 13D Page 10 of 12 pages
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SCHEDULE A
Transactions in the Shares Since the Filing of Amendment No. 11 to the Schedule 13D
-----------------------------------------------------------------------------------
Shares of Common Stock Price Per Date of
Purchased Share ($) Purchase
--------- --------- --------
STEEL PARTNERS II, L.P.
-----------------------
525,000 6.75 8/27/03
STEEL PARTNERS, L.L.C.
----------------------
None
WARREN G. LICHTENSTEIN
----------------------
None
GLEN KASSAN
-----------
None
JAMES R. HENDERSON
------------------
None
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CUSIP No. 784413106 13D Page 11 of 12 pages
--------------------- -----------------------
EXHIBIT INDEX
Exhibit Page
------- ----
1. Joint Filing Agreement by and among Steel Partners II, L.P. and
Warren G. Lichtenstein dated as of June 20, 1997 (previously
filed).
2. Joint Filing Agreement by and among Steel Partners II, L.P.,
Warren G. Lichtenstein, Newcastle Partners, L.P., Mark E.
Schwarz, Glen Kassan, James R. Henderson and Steven Wolosky
dated as of February 15, 2001 (previously filed).
3. Director Nomination Letter from Steel Partners II, L.P. to SL
Industries, Inc. dated February 15, 2001 (previously filed).
4. Letter from The SL Full Value Committee to Owen Farren dated
February 16, 2001 (previously filed).
5. Director Nomination Letter from Steel Partners II, L.P. to SL
Industries, Inc. dated November 13, 2001 (previously filed).
6. Preliminary Proxy Statement of The RORID Committee dated
November 20, 2001 (previously filed).
7. Letter from Steel Partners II, L.P. to SL Industries, Inc.
dated November 21, 2001 (previously filed).
8. Joint Filing Agreement by and among Steel Partners II, L.P., 12
Steel Partners, L.L.C., Warren G. Lichtenstein, Glen Kassan and
James R. Henderson, dated as of September 5, 2003.
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CUSIP No. 784413106 13D Page 12 of 12 pages
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JOINT FILING AGREEMENT
In accordance with Rule 13d-1(k)(1)(iii) under the Securities
Exchange Act of 1934, as amended, the persons named below agree to the joint
filing on behalf of each of them of a Statement on Schedule 13D dated September
5, 2003 (including amendments thereto) with respect to the Common Stock of SL
Industries, Inc. This Joint Filing Agreement shall be filed as an Exhibit to
such Statement.
Dated: September 5, 2003 STEEL PARTNERS II, L.P.
By: Steel Partners, L.L.C.,
General Partner
By: /s/ Warren G. Lichtenstein
----------------------------------------
Warren G. Lichtenstein,
Chief Executive Officer
STEEL PARTNERS, L.L.C.
By: /s/ Warren G. Lichtenstein
----------------------------------------
Warren G. Lichtenstein,
Chief Executive Officer
/s/ Warren G. Lichtenstein
--------------------------------------------
WARREN G. LICHTENSTEIN
/s/ Glen Kassan
--------------------------------------------
GLEN KASSAN
/s/ James R. Henderson
--------------------------------------------
JAMES R. HENDERSON