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SECURITIES AND EXCHANGE COMMISSION |
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Washington, D.C. 20549 |
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SCHEDULE 13D/A |
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(Amendment No. 1)* |
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The Coast Distribution System, Inc. |
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(Name of Issuer) |
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Common Stock, $0.001 par value per share |
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(Title of Class of Securities) |
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190345 10 8 |
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(CUSIP Number) |
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Robert E. Robotti c/o Robotti & Company, Incorporated |
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52 Vanderbilt Avenue |
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New York, New York 10017 |
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(Name, Address and Telephone Number of Person |
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Authorized to Receive Notices and Communications) |
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June 26, 2006 |
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(Date of Event Which Requires Filing of this Statement) |
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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. |
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(Continued on following pages) (Page 1 of 13 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 the disclosures provided in a prior cover page. The information required in 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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Schedule 13D |
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CUSIP No. 190345 10 8 |
Page 2 of 13 Pages |
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1. |
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Names of Reporting Persons |
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I.R.S. Identification Nos. of above persons (entities only) |
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2. |
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Check the Appropriate Box if a Member of a Group (See Instructions) |
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(a) |
[ ] |
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(b) |
[ ] |
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3. |
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SEC Use Only |
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4. |
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Source of Funds |
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AF |
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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 |
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United States |
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Number of |
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7. |
Sole Voting Power: -0- |
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Shares |
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Beneficially |
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8. |
Shared Voting Power: 257,200 |
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Owned by |
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Each |
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9. |
Sole Dispositive Power: -0- |
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Reporting |
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Person With |
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10. |
Shared Dispositive Power: 257,200 |
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11. |
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Aggregate Amount Beneficially Owned by Each Reporting Person |
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257,200 |
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12. |
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Check if the Aggregate Amount in Row (11) Excludes Certain Shares [ ] |
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13. |
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Percent of Class Represented by Amount in Row (11) |
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5.8% |
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14. |
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Type of Reporting Person (See Instructions) |
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IN, HC |
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Schedule 13D |
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CUSIP No. 190345 10 8 |
Page 3 of 13 Pages |
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1. |
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Names of Reporting Persons |
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I.R.S. Identification Nos. of above persons (entities only) |
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2. |
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Check the Appropriate Box if a Member of a Group (See Instructions) |
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(a) |
[ ] |
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(b) |
[ ] |
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3. |
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SEC Use Only |
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4. |
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Source of Funds |
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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 |
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New York |
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Number of |
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7. |
Sole Voting Power: -0- |
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Shares |
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Beneficially |
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8. |
Shared Voting Power: 41,800 |
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Owned by |
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Each |
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9. |
Sole Dispositive Power: -0- |
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Reporting |
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Person With |
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10. |
Shared Dispositive Power: 41,800 |
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11. |
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Aggregate Amount Beneficially Owned by Each Reporting Person |
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41,800 |
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12. |
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Check if the Aggregate Amount in Row (11) Excludes Certain Shares [ ] |
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13. |
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Percent of Class Represented by Amount in Row (11) |
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Less than 1% |
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14. |
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Type of Reporting Person (See Instructions) |
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CO, HC |
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Schedule 13D |
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CUSIP No. 190345 10 8 |
Page 4 of 13 Pages |
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1. |
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Names of Reporting Persons |
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I.R.S. Identification Nos. of above persons (entities only) |
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2. |
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Check the Appropriate Box if a Member of a Group (See Instructions) |
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(a) |
[ ] |
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(b) |
[ ] |
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3. |
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SEC Use Only |
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4. |
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Source of Funds |
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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 |
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New York |
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Number of |
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7. |
Sole Voting Power: -0- |
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Shares |
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Beneficially |
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8. |
Shared Voting Power: 18,750 |
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Owned by |
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Each |
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9. |
Sole Dispositive Power: -0- |
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Reporting |
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Person With |
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10. |
Shared Dispositive Power: 18,750 |
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11. |
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Aggregate Amount Beneficially Owned by Each Reporting Person |
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18,750 |
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12. |
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Check if the Aggregate Amount in Row (11) Excludes Certain Shares [ ] |
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13. |
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Percent of Class Represented by Amount in Row (11) |
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Less than 1% |
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14. |
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Type of Reporting Person (See Instructions) |
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OO |
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Schedule 13D |
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CUSIP No. 190345 10 8 |
Page 5 of 13 Pages |
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1. |
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Names of Reporting Persons |
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I.R.S. Identification Nos. of above persons (entities only) |
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2. |
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Check the Appropriate Box if a Member of a Group (See Instructions) |
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(a) |
[ ] |
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(b) |
[ ] |
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3. |
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SEC Use Only |
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4. |
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Source of Funds |
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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 |
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New York |
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Number of |
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7. |
Sole Voting Power: -0- |
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Shares |
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Beneficially |
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8. |
Shared Voting Power: 18,050 |
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Owned by |
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Each |
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9. |
Sole Dispositive Power: -0- |
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Reporting |
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Person With |
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10. |
Shared Dispositive Power: 18,050 |
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11. |
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Aggregate Amount Beneficially Owned by Each Reporting Person |
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18,050 |
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12. |
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Check if the Aggregate Amount in Row (11) Excludes Certain Shares [ ] |
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13. |
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Percent of Class Represented by Amount in Row (11) |
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Less than 1% |
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14. |
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Type of Reporting Person (See Instructions) |
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OO, IA |
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Schedule 13D |
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CUSIP No. 190345 10 8 |
Page 6 of 13 Pages |
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1. |
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Names of Reporting Persons |
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I.R.S. Identification Nos. of above persons (entities only) |
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2. |
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Check the Appropriate Box if a Member of a Group (See Instructions) |
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(a) |
[ ] |
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(b) |
[ ] |
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3. |
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SEC Use Only |
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4. |
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Source of Funds |
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PF |
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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 |
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United States |
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Number of |
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7. |
Sole Voting Power: 20,000 |
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Shares |
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Beneficially |
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8. |
Shared Voting Power: -0- |
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Owned by |
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Each |
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9. |
Sole Dispositive Power: 20,000 |
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Reporting |
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Person With |
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10. |
Shared Dispositive Power: -0- |
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11. |
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Aggregate Amount Beneficially Owned by Each Reporting Person |
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20,000 |
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12. |
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Check if the Aggregate Amount in Row (11) Excludes Certain Shares [ ] |
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13. |
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Percent of Class Represented by Amount in Row (11) |
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Less than 1% |
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14. |
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Type of Reporting Person (See Instructions) |
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IN |
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Schedule 13D |
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CUSIP No. 190345 10 8 |
Page 7 of 13 Pages |
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1. |
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Names of Reporting Persons |
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I.R.S. Identification Nos. of above persons (entities only) |
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2. |
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Check the Appropriate Box if a Member of a Group (See Instructions) |
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(a) |
[ ] |
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(b) |
[ ] |
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3. |
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SEC Use Only |
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4. |
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Source of Funds |
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AF |
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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 |
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United States |
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Number of |
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7. |
Sole Voting Power: -0- |
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Shares |
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Beneficially |
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8. |
Shared Voting Power: 195,400 |
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Owned by |
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Each |
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9. |
Sole Dispositive Power: -0- |
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Reporting |
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Person With |
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10. |
Shared Dispositive Power: 195,400 |
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11. |
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Aggregate Amount Beneficially Owned by Each Reporting Person |
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195,400 |
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12. |
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Check if the Aggregate Amount in Row (11) Excludes Certain Shares [ ] |
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13. |
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Percent of Class Represented by Amount in Row (11) |
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4.4% |
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14. |
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Type of Reporting Person (See Instructions) |
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IN, HC |
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Schedule 13D |
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CUSIP No. 190345 10 8 |
Page 8 of 13 Pages |
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1. |
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Names of Reporting Persons |
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I.R.S. Identification Nos. of above persons (entities only) |
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2. |
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Check the Appropriate Box if a Member of a Group (See Instructions) |
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(a) |
[ ] |
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(b) |
[ ] |
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3. |
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SEC Use Only |
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4. |
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Source of Funds |
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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 |
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New York |
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Number of |
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7. |
Sole Voting Power: -0- |
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Shares |
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Beneficially |
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8. |
Shared Voting Power: 195,400 |
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Owned by |
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Each |
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9. |
Sole Dispositive Power: -0- |
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Reporting |
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Person With |
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10. |
Shared Dispositive Power: 195,400 |
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11. |
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Aggregate Amount Beneficially Owned by Each Reporting Person |
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195,400 |
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12. |
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Check if the Aggregate Amount in Row (11) Excludes Certain Shares [ ] |
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13. |
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Percent of Class Represented by Amount in Row (11) |
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4.4% |
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14. |
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Type of Reporting Person (See Instructions) |
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OO |
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Schedule 13D |
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CUSIP No. 190345 10 8 |
Page 9 of 13 Pages |
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1. |
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Names of Reporting Persons |
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I.R.S. Identification Nos. of above persons (entities only) |
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2. |
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Check the Appropriate Box if a Member of a Group (See Instructions) |
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(a) |
[ ] |
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(b) |
[ ] |
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3. |
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SEC Use Only |
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4. |
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Source of Funds |
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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 |
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New York |
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Number of |
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7. |
Sole Voting Power: -0- |
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Shares |
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Beneficially |
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8. |
Shared Voting Power: 195,400 |
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Owned by |
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Each |
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9. |
Sole Dispositive Power: -0- |
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Reporting |
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Person With |
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10. |
Shared Dispositive Power: 195,400 |
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11. |
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Aggregate Amount Beneficially Owned by Each Reporting Person |
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195,400 |
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12. |
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Check if the Aggregate Amount in Row (11) Excludes Certain Shares [ ] |
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13. |
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Percent of Class Represented by Amount in Row (11) |
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4.4% |
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14. |
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Type of Reporting Person (See Instructions) |
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PN |
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SCHEDULE 13D |
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CUSIP No. 190345 10 8 |
Page 10 of 13 Pages |
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This Statement on Schedule 13D Amendment No. 1 (this "Statement") is filed on behalf of the Reporting Persons with the Securities and Exchange Commission (the "Commission"). This Statement amends the initial Statement of Beneficial Ownership on Schedule 13D (the "Initial Statement") relating to shares of the Common Stock, $0.001 par value per share (the "Common Stock"), of The Coast Distribution System, Inc. (the "Issuer") filed on August 31, 2005 with the Commission as specifically set forth herein. Capitalized terms used herein and not otherwise defined herein shall have the same meanings ascribed to them in the Initial Statement. |
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Item 3. |
Source and Amount of Funds or Other Consideration |
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Item 3 of the Initial Statement is hereby amended and restated to read as follows: |
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The aggregate purchase price of the 5,000 shares of Common Stock held by ROBT is $26,252 (including brokerage fees and expenses). All of the shares of Common Stock beneficially held by ROBT were paid for using its working capital funds. |
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The aggregate purchase price of the 18,750 shares of the Common Stock held by Robotti & Company is $70,640 (including brokerage fees and expenses). All of the shares of Common Stock beneficially held by Robotti & Company were paid for using the working capital of its discretionary customers. |
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The aggregate purchase price of the 18,050 shares of the Common Stock held by Robotti Advisors is $42,205 (including brokerage fees and expenses). All of the shares of Common Stock beneficially held by Robotti Advisors were paid for using the working capital of its clients. |
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The aggregate purchase price of the 20,000 shares of the Common Stock held by Suzanne Robotti is $8,051 (including brokerage fees and expenses). All of the shares of Common Stock beneficially held by Suzanne Robotti were paid for using her personal funds. |
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Item 4. |
Purpose of Transaction |
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Item 4 of the Initial Statement is hereby amended to add the following: |
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On June 26, 2006, The Ravenswood Investment Company, L.P. sent a letter (the "June 26 Letter") to Thomas R. McGuire, Chairman and Chief Executive Officer, The Coast Distribution System, Inc. ("Coast"). In the letter, RIC stated its support for the unanimous decision by Coast's Board of Directors to reject the $8.10 per share takeover offer from Bell Industries, Inc. The offer by Bell Industries Inc. is clearly not reflective of the value of Coast's business. In RIC's opinion this bid does nothing more than distract Coast's management and employees and thereby waste current shareholders' money and resources in considering and responding to it. |
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A copy of the June 26 Letter is attached hereto as Exhibit 2 and incorporated herein by reference. |
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SCHEDULE 13D |
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CUSIP No. 190345 10 8 |
Page 11 of 13 Pages |
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Item 5. |
Interest in Securities of the Issuer |
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Item 5 of the Initial Statement is hereby amended and restated to read as follows: |
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(a)-(b) As of June 26, 2006, the aggregate number of shares of Common Stock and percentage of the outstanding Common Stock of the Issuer beneficially owned (i) by each of the Reporting Persons, and (ii) to the knowledge of the Reporting Persons, by each other person who may be deemed to be a member of a group, is as follows: |
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Robotti (1)(2)(3)(4)(6)(7) |
257,200 |
0 |
257,200 |
5.8% |
||
ROBT (1)(2)(3)(4) |
41,800 |
0 |
41,800 |
** |
||
Robotti & Company (1)(3) |
18,750 |
0 |
18,750 |
** |
||
Robotti Advisors (1)(4) |
18,050 |
0 |
18,050 |
** |
||
Suzanne Robotti (1)(5)(6) |
20,000 |
20,000 |
0 |
** |
||
Wasiak (1)(7) |
195,400 |
0 |
195,400 |
4.4% |
||
RMC (1)(7) |
195,400 |
0 |
195,400 |
4.4% |
||
RIC (1)(7) |
195,400 |
0 |
195,400 |
4.4% |
||
* Based on 4,406,239 shares of Common Stock, $0.001 par value, outstanding as of May 2, 2006, as disclosed in the Issuer's Quarterly Report on Form 10-Q, for the quarter ended March 31, 2006. ** Less than one percent. (1) Each of the Reporting Persons disclaims beneficial ownership of the securities held by the other Filing Parties except to the extent of
such Reporting Person's pecuniary interest therein, if any. |
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SCHEDULE 13D |
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CUSIP No. 190345 10 8 |
Page 12 of 13 Pages |
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(c) The table below lists all the transactions in the Issuer's Common Stock in the last sixty days by the Reporting Persons. All such transactions were made in the open market. |
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Transactions in Shares Within the Past Sixty Days |
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|
|
Number of Shares of the Common Stock |
|
|
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RIC |
06/09/2006 |
14,200 |
BUY |
$7.9589 |
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(d) |
No Person other than the Reporting Persons is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such shares of Common Stock beneficially owned by the
Reporting Persons. |
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(e) |
Not Applicable. |
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Item 7. |
Materials To Be Filed As Exhibits |
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The following documents are filed herewith or have been previously filed: |
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1. Joint Filing Agreement dated August 30, 2005 by and among Robert E. Robotti, Robotti & Company, Incorporated, Robotti & Company, LLC, Robotti & Company Advisors, LLC, Suzanne Robotti, Kenneth R. Wasiak, Ravenswood Management Company, L.L.C. and The Ravenswood Investment Company, L.P. |
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2. Letter dated June 26, 2006, from The Ravenswood Investment Company, L.P. to Thomas R. McGuire, Chairman and Chief Executive Officer, The Coast Distribution System, Inc. |
SCHEDULE 13D |
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CUSIP No. 190345 10 8 |
Page 13 of 13 Pages |
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SIGNATURE |
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After reasonable inquiry and to the best 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. |
Date: |
June 27, 2006 |
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Robotti & Company, Incorporated |
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/s/ Robert E. Robotti |
By: |
/s/ Robert E. Robotti |
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Robert E. Robotti |
Name: Robert E. Robotti |
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Title: President and Treasurer |
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Robotti & Company, LLC |
Robotti & Company Advisors, LLC |
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By: |
/s/ Robert E. Robotti |
By: |
/s/ Robert E. Robotti |
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Name: Robert E. Robotti |
Name: Robert E. Robotti |
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Title: President and Treasurer |
Title: President and Treasurer |
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/s/ Suzanne Robotti |
By: |
/s/ Kenneth R. Wasiak |
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Suzanne Robotti |
Kenneth R. Wasiak |
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Ravenswood Management Company, L.L.C. |
The Ravenswood Investment Company, L.P. |
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By: |
/s/ Robert E. Robotti |
By: |
Ravenswood Management Company, L.L.C. |
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Name: Robert E. Robotti |
Its General Partner |
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Title: Managing Member |
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By: |
/s/ Robert E. Robotti |
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Name: Robert E. Robotti |
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Title: Managing Member |
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