UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
Beasley Broadcast Group Inc.
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(Name of Issuer)
Class A common
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(Title of Class of Securities)
074014101
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(CUSIP Number)
JIM KORN, ESQ.
DEEPHAVEN CAPITAL MANAGEMENT LLC
130 CHESHIRE LANE, SUITE 102
MINNETONKA, MN 55305
952-249-5538
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
April 30, 2004
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(Date of Event Which Requires Filing of this Statement)
If the 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-2(g), check
the following box. [ ]
CUSIP No. 074014101
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1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only)
Deephaven Capital Management LLC
41-1908497
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) N/A
(b) N/A
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3. SEC Use Only
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4. Source of Funds
WC
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5. Check if Disclosure of Legal Proceedings is Required Pursuant to Items
2(d) or 2(e)
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6. Citizenship or Place of Organization
Delaware
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7. Sole Voting Power
1,547,723
Number of ==================================================================
Shares 8. Shared Voting Power
Beneficially 0
Owned by ==================================================================
Each 9. Sole Dispositive Power
Reporting 1,547,723
Person With ==================================================================
10. Shared Dispositive Power
0
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11. Aggregate Amount Beneficially Owned by Each Reporting Person
1,547,723
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12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares
N/A
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13. Percent of Class Represented by Amount in Row (11)
20.79%%
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14. Type of Reporting Person
00
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Item 1. Security and Issuer
Common Stock Class A
Beasley Broadcast Group Inc.
3033 RIVIERA DRIVE
SUITE 200
NAPLES FL 34103
Item 2.
(a) This statement is filed on behalf of Deephaven Capital Management LLC, a
Delaware limited liability company.
(b) The principal business address of Deephaven Capital Management LLC is 130
Cheshire Lane, Suite 102, Minnetonka, MN 55305
(c) The principal business of Deephaven Capital Management LLC is an
unregistered investment advisor.
(d) During the last 5 years, Deephaven Capital Management LLC has not been
convicted in a criminal proceeding.
(e) During the last 5 years, Deephaven Capital Management LLC, has not been a
party to a civil proceeding of a judicial or administrative body of
competent jurisdiction.
(f) Deephaven Capital Management LLC is a Delaware limited liability company.
Item 3.
The source of funding for the purchase of these Shares was general working
capital.
Item 4. Purpose of Transaction.
Deephaven Capital Management LLC acquired the Shares believing them to be
undervalued.
Deephaven Capital Management LLC reserves the right to acquire additional Shares
at any time and from time to time in the open market or otherwise. In addition,
Registrant may dispose of all or any portion of the Shares at any time or from
time to time in the open market or otherwise. Registrant may seek to participate
in, and influence the outcome of, any proxy solicitation and the bidding process
involving the Issuer, as a bidder or otherwise.
Item 5. Interest in Securities of Issuer
(a) Deephaven Capital Management LLC is the beneficial owner of 1,547,723
shares of Beasley common stock, which constitutes 20.79% of total shares
outstanding.
(b) Deephaven Capital Management LLC has sole power to vote or to direct the
vote, as well as the sole power to dispose or to direct the disposition of
the 1,547,723 shares.
(c) Deephaven Capital Management LLC effected the following transactions in the
open market in the last 60 days:
Trade Date Transaction Type Quantity Price
2/11/2005 Buy 3,510 16.90
2/11/2005 Buy 990 16.90
2/14/2005 Buy 5,070 16.85
2/14/2005 Buy 1,430 16.85
2/15/2005 Buy 1,460 16.74
2/15/2005 Buy 5,175 16.74
2/16/2005 Buy 717 16.68
2/16/2005 Buy 202 16.68
2/17/2005 Buy 5,838 16.90
2/17/2005 Buy 1,647 16.90
2/18/2005 Buy 1,401 17.04
2/18/2005 Buy 4,968 17.04
2/22/2005 Buy 9,377 16.84
2/22/2005 Buy 2,645 16.84
2/23/2005 Buy 2,590 16.64
2/23/2005 Buy 730 16.64
2/24/2005 Buy 604 16.56
2/24/2005 Buy 2,141 16.56
2/25/2005 Buy 12,480 16.42
2/25/2005 Buy 3,520 16.42
2/28/2005 Buy 15,134 16.40
2/28/2005 Buy 4,268 16.40
3/1/2005 Buy 286 17.36
3/1/2005 Buy 1,014 17.36
3/2/2005 Buy 11,349 17.27
3/2/2005 Buy 3,201 17.27
3/3/2005 Buy 5,374 17.53
3/3/2005 Buy 1,516 17.53
3/4/2005 Buy 2,398 17.71
3/4/2005 Buy 8,502 17.71
3/7/2005 Buy 525 17.83
3/7/2005 Buy 1,863 17.83
3/8/2005 Buy 1,832 17.94
3/8/2005 Buy 458 17.94
3/9/2005 Buy 312 18.08
3/9/2005 Buy 88 18.08
3/10/2005 Buy 1,193 18.03
3/10/2005 Buy 337 18.03
3/11/2005 Buy 475 17.95
3/11/2005 Buy 1,686 17.95
3/14/2005 Buy 312 18.12
3/14/2005 Buy 88 18.12
3/15/2005 Buy 880 17.56
3/15/2005 Buy 3,120 17.56
3/16/2005 Buy 1,716 17.10
3/16/2005 Buy 484 17.10
3/17/2005 Buy 5,773 17.24
3/17/2005 Buy 20,470 17.24
3/18/2005 Buy 1,261 17.29
3/18/2005 Buy 4,469 17.29
3/21/2005 Buy 466 17.47
3/21/2005 Buy 1,650 17.47
3/22/2005 Buy 1,245 17.61
3/22/2005 Buy 4,416 17.61
3/23/2005 Buy 1,643 17.60
3/23/2005 Buy 463 17.60
3/24/2005 Buy 1,122 17.68
3/24/2005 Buy 3,978 17.68
3/28/2005 Buy 2,363 17.78
3/28/2005 Buy 9,452 17.78
3/29/2005 Buy 1,100 17.74
3/29/2005 Buy 3,900 17.74
3/30/2005 Buy 8,658 17.71
3/30/2005 Buy 2,442 17.71
3/31/2005 Buy 954 17.75
3/31/2005 Buy 3,384 17.75
4/1/2005 Buy 2,505 17.73
4/1/2005 Buy 8,880 17.73
4/4/2005 Buy 411 17.76
4/4/2005 Buy 1,455 17.76
4/5/2005 Buy 864 17.76
4/5/2005 Buy 244 17.76
4/8/2005 Buy 528 17.31
4/8/2005 Buy 1,872 17.31
4/11/2005 Buy 132 17.19
4/11/2005 Buy 468 17.19
4/12/2005 Buy 264 16.83
4/12/2005 Buy 936 16.83
(d) N/A
(e) N/A
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect
to Securities of the Issuer
N/A
Item 7. Material to be Filed as Exhibits
N/A
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
April 18, 2005
Signature
/s/ Jim Korn, Chief Legal Officer