UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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SCHEDULE 13D
Under the Securities Exchange Act of 1934
(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. 10)*
Intrawest Corporation
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(Name of Issuer)
Common Stock, no par value per share
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(Title of Class of Securities)
460915200
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(CUSIP Number)
Thomas R. Hudson Jr.
Pirate Capital LLC
200 Connecticut Avenue, 4th Floor
Norwalk, CT 06854
(203) 854-1100
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
June 21, 2006
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(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 6 Pages)
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* 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).
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CUSIP NO. 460915200 SCHEDULE 13D PAGE 2 OF 6 PAGES
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
PIRATE CAPITAL LLC
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |X|
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
AF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEM 2(d) or 2(e) |_|
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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7 SOLE VOTING POWER
-0-
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NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 8,266,570
OWNED BY ----------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON WITH -0-
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10 SHARED DISPOSITIVE POWER
8,266,570
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
8,266,570
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
|_|
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
16.9%
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14 TYPE OF REPORTING PERSON*
IA
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* SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP NO. 460915200 SCHEDULE 13D PAGE 3 OF 6 PAGES
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
THOMAS R. HUDSON JR.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |X|
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
AF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEM 2(d) or 2(e) |_|
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
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7 SOLE VOTING POWER
-0-
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NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 8,266,570
OWNED BY ----------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON WITH -0-
----------------------------------------------------------
10 SHARED DISPOSITIVE POWER
8,266,570
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
8,266,570
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
|_|
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
16.9%
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14 TYPE OF REPORTING PERSON*
IN
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* SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP NO. 460915200 SCHEDULE 13D PAGE 4 OF 6 PAGES
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The Schedule 13D filed on June 28, 2005 by Pirate Capital LLC, a Delaware
limited liability company ("Pirate Capital"), and Thomas R. Hudson Jr.
(together, the "Reporting Persons"), relating to the shares of common stock, no
par value ("Shares"), of Intrawest Corporation (the "Issuer"), as previously
amended by Amendment No. 1 to the Schedule 13D filed on July 25, 2005, Amendment
No. 2 filed on October 18, 2005, Amendment No. 3 filed on November 4, 2005,
Amendment No. 4 filed on December 16, 2005, Amendment No. 5 filed on February 9,
2006, Amendment No. 6 filed on March 2, 2006, Amendment No. 7 filed on April 18,
2006, Amendment No. 8 filed on April 28, 2006, and Amendment No. 9 filed on May
19, 2006 is hereby amended by this Amendment No. 10 to the Schedule 13D. The
principal executive office of the Issuer is located at 200 Burrard Street, Suite
800, Vancouver, BC V6C 3L6, Canada.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
Item 3 is hereby amended and restated as follows:
Funds for the purchase of the Shares reported herein were derived from
available capital of the Holders. A total of approximately $220,106,799 was paid
to acquire such Shares.
ITEM 5. INTEREST IN SECURITIES OF THE COMPANY
Paragraphs (a), (b) and (c) of Item 5 are hereby amended and restated as
follows:
(a) The Reporting Persons beneficially own 8,266,570 Shares, constituting
approximately 16.9% of the Shares outstanding.
The aggregate percentage of Shares beneficially owned by the Reporting
Persons is based upon 49,059,126 Shares outstanding, which is the total number
of Shares outstanding as reported in the Issuer's Report of Foreign Issuer on
Form 6-K filed on May 15, 2006.
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CUSIP NO. 460915200 SCHEDULE 13D PAGE 5 OF 6 PAGES
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(b) By virtue of its position as general partner of Jolly Roger Fund LP,
Pirate Capital has the power to vote or direct the voting, and to dispose or
direct the disposition, of all of the 994,100 Shares held by Jolly Roger Fund
LP. By virtue of agreements with Jolly Roger Offshore Fund LTD, Jolly Roger
Activist Portfolio Company LTD and Mint Master Fund LTD, Pirate Capital has the
power to vote or direct the voting, and to dispose or direct the disposition, of
all of the 7,272,470 Shares held by Jolly Roger Offshore Fund LTD, Jolly Roger
Activist Portfolio Company LTD and Mint Master Fund LTD. By virtue of his
position as sole Managing Member of Pirate Capital, Thomas R. Hudson Jr. is
deemed to have shared voting power and shared dispositive power with respect to
all Shares as to which Pirate Capital has voting power or dispositive power.
Accordingly, Pirate Capital LLC and Thomas R. Hudson Jr. are deemed to have
shared voting and shared dispositive power with respect to an aggregate of
8,266,570 Shares.
(c) The following transactions in the Shares were effected by the
Reporting Persons since the most recent filing on Schedule 13D. All of the
Shares were purchased in open market transactions.
Jolly Roger Offshore Fund LTD
Trade Date Shares Purchased (Sold) Price per Share ($)
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5/18/2006 75,000 34.02
5/19/2006 25,000 33.79
5/22/2006 10,700 33.00
5/23/2006 25,000 33.69
5/30/2006 50,000 32.50
5/31/2006 22,800 32.35
6/07/2006 25,000 32.90
6/14/2006 51,000 31.58
6/15/2006 125,000 31.56
6/16/2006 5,000 31.25
6/21/2006 5,000 30.74
6/21/2006 15,000 30.69
6/22/2006 5,000 31.00
6/22/2006 5,000 31.02
Mint Master Fund LTD
Trade Date Shares Purchased (Sold) Price per Share ($)
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6/08/2006 35,000 31.57
6/15/2006 25,000 31.56
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO
SECURITIES OF THE COMPANY
Item 6 of the Schedule 13D is hereby amended and restated as follows:
As set forth below, the Reporting Persons sold, as of June 22, 2006, 500
contracts with respect to options to acquire 50,000 shares of Common Stock, each
of which was sold on the open market.
Date of Shares Exercise Price Expiration Date Sale Price
Sale Underlying per Share ($) per Share($)
Options
06/22/06 50,000 35.00 12/16/06 1.50
Except as otherwise set forth herein, the Reporting Persons do not have any
contract, arrangement, understanding or relationship with any person with
respect to securities of the Issuer.
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CUSIP NO. 460915200 SCHEDULE 13D PAGE 6 OF 6 PAGES
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SIGNATURES
After reasonable inquiry and to the best of each of the undersigned's
knowledge and belief, each of the undersigned certifies that the information set
forth in this statement is true, complete and correct.
Dated: June 26, 2006
PIRATE CAPITAL LLC
By: /s/ Thomas R. Hudson Jr.
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Name: Thomas R. Hudson Jr.
Title: Managing Manager
/s/ Thomas R. Hudson Jr.
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Thomas R. Hudson Jr.