UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Schedule 13D
Under the Securities Exchange Act of 1934
(Amendment No. 2)
ANGEION CORPORATION
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(Name of Issuer)
COMMON STOCK
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(Title of Class of Securities)
03462H404
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(CUSIP Number)
BENTLEY J. ANDERSON, SECRETARY.
DEEPHAVEN CAPITAL MANAGEMENT LLC
130 CHESHIRE LANE, SUITE 102
MINNETONKA, MN 55305
(952) 249-5700
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
October 5, 2005
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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 which is the subject of this Schedule 13D, and is filing this
schedule because of Secs. 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the
following box. |_|
CUSIP N0. 03462H404
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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: (a) |_|
(b) |_|
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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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Number of 7. Sole voting power:
shares
beneficially 851,608(1)
owned by ----------------------------------------------------------------
each 8. Shared voting power:
reporting
person with: -0-
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9. Sole dispositive power:
851,608(1)
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10. Shared dispositive power:
-0-
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11. Aggregate amount beneficially owned by each reporting person:
851,608(1)
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12. Check if the aggregate amount in Row (11) excludes certain shares:
|_|
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13. Percent of class represented by amount in Row (11):
23.3%
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14. Type of reporting person:
OO
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(1) Includes stock option to acquire 39,000 shares of common stock that are
exercisable within 60 days.
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Item 1. Security and Issuer:
This Statement on Schedule 13D (the "Schedule 13D") relates to the Common Stock,
CUSIP 03462H404, of Angeion Corporation, a Minnesota corporation (the "Issuer").
The address of the principal executive offices of the Issuer is 350 Oak Grove
Parkway, St. Paul, MN 55127.
Item 2. Identity and Background:
(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. Source and Amount of Funds or Other Consideration:
Deephaven Capital Management LLC purchased 17,560 shares of common stock on
October 5, 2005 on the open market with its own working capital, bringing the
total of shares of common stock owned to 851,608.
Item 4. Purpose of Transaction:
(b) On October 29, 2004 and September 15, 2005 Deephaven Capital Management
LLC received option grants to purchase 14,000 shares and 25,000 shares of
Common Stock, respectively. On October 5, 2005, Deephaven Capital
Management LLC purchased an additional 17,560 shares for investment
purposes.
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Item 5. Interest in Securities of the Issuer:
(a) - (b) The aggregate percentage of Shares of Common Stock reported
owned by Deephaven Capital Management LLC herein is based upon 3,609,325 Shares
outstanding, which is the total number of Shares of Issuer's Common Stock
outstanding as of September 9, 2005 as reported in the Issuer's Form 10-QSB
filed on September 14, 2005.
As of the close of business on October 5, 2005, Deephaven Capital
Management LLC beneficially owned 851,608 Shares of Common Stock, constituting
23.3% of the Shares outstanding. Deephaven Capital Management LLC has sole
voting and dispositive power with respect to the 851,608 Shares.
(c) In the past 60 days, Deephaven Capital Management LLC effected the
following transactions:
9/15/05 received stock option to purchase 25,000 shares of common stock
10/5/05 purchased 17,560 shares common stock
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
SIGNATURES
After reasonable inquiry and to the best of my knowledge and belief, the
undersigned certifies that the information set forth in this statement is true,
complete and correct.
Date: October 10, 2005
DEEPHAVEN CAPITAL MANAGEMENT LLC
/s/ Bentley J. Anderson
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By: Bentley J. Anderson
Its: Secretary
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