UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
(Amendment No. 1)
Under the Securities Exchange Act of 1934
JPS INDUSTRIES, INC.
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(Name of Issuer)
COMMON STOCK, PAR VALUE $.01 PER SHARE
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(Title of Class of Securities)
46624E405
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(CUSIP Number)
MARCH 18, 2004
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(Date of Event which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed.
[_] Rule 13d-1(b)
[X] Rule 13d-1(c)
[_] Rule 13d-1(d)
*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 reminder 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).
CUSIP NO. 46624E405 2
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1. Name of Reporting Person
S.S. or I.R.S. Identifica-
tion No. of Above Person
JWA Investments L.P.
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2. Check the Appropriate Box
if a Member of a Group
(a) [_]
(b) [X]
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3. S.E.C. Use Only
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4. Citizenship or Place of Organization
Delaware
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Number of Shares (5) Sole Voting Power 899,629
Beneficially (6) Shared Voting Power 0
Owned by Each (7) Sole Dispositive Power 899,629
Reporting Person (8) Shared Dispositive Power 0
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9. Aggregate Amount Beneficially Owned by Each Reporting Person
899,629
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10. Check if the Aggregate Amount in Row (9) Excludes Certain
Shares
[_]
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11. Percent of Class Represented by Amount in Row 9
9.5%
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12. Type of Reporting Person
PN
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CUSIP NO. 46624E405 3
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1. Name of Reporting Person
S.S. or I.R.S. Identifica-
tion No. of Above Person
JWA Investments Corp.
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2. Check the Appropriate Box
if a Member of a Group
(a) [_]
(b) [X]
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3. S.E.C. Use Only
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4. Citizenship or Place of Organization
Delaware
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Number of Shares (5) Sole Voting Power 899,629
Beneficially (6) Shared Voting Power 0
Owned by Each (7) Sole Dispositive Power 899,629
Reporting Person (8) Shared Dispositive Power 0
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9. Aggregate Amount Beneficially Owned by Each Reporting Person
899,629
--------------------------------------------------------------------------------
10. Check if the Aggregate Amount in Row (9) Excludes Certain
Shares
[_]
--------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row 9
9.5%
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12. Type of Reporting Person
CO
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CUSIP NO. 46624E405 4
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1. Name of Reporting Person
S.S. or I.R.S. Identifica-
tion No. of Above Person
John W. Adams
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2. Check the Appropriate Box
if a Member of a Group
(a) [_]
(b) [X]
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3. S.E.C. Use Only
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4. Citizenship or Place of Organization
United States
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Number of Shares (5) Sole Voting Power 899,629
Beneficially (6) Shared Voting Power 0
Owned by Each (7) Sole Dispositive Power 899,629
Reporting Person (8) Shared Dispositive Power 0
--------------------------------------------------------------------------------
9. Aggregate Amount Beneficially Owned by Each Reporting Person
899,629
--------------------------------------------------------------------------------
10. Check if the Aggregate Amount in Row (9) Excludes Certain
Shares
[_]
--------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row 9
9.5%
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12. Type of Reporting Person
IN
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CUSIP NO. 46624E405 5
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SCHEDULE 13G
This Schedule 13G is filed by the undersigned with respect to
the shares of common stock, par value $.01 per share (the "Common Stock"), of
JPS Industries, Inc. (the "Company").
Item 1. (a) NAME OF ISSUER
JPS Industries, Inc.
(b) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES
555 North Pleasantburg Drive, Suite 202
Greenville, South Carolina 29607
Item 2. (a) NAMES OF PERSONS FILING
JWA Investments L.P. ("JWA")
JWA Investments Corp. ("JWA General Partner")
John W. Adams ("Adams" and, together with JWA and JWA General
Partner, the "Reporting Persons")
(b) ADDRESS OF PRINCIPAL BUSINESS OFFICE
885 Third Avenue
34th Floor
New York, NY 10022
(c) CITIZENSHIP
JWA -- Delaware
JWA General Partner -- Delaware
Adams -- United States
(d) TITLE OF CLASS OF SECURITIES
Common Stock, par value $.01 per share (the "Shares")
(e) CUSIP NUMBER
46624E405
Item 3. If this statement is filed pursuant to Rules 13d-1(b), or 13d-2(b) or
(c), check whether filing person is a:
(a) [_] Broker or dealer registered under Section 15 of the
Act
CUSIP NO. 46624E405 6
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(b) [_] Bank as defined in Section 3(a)(6) of the Act
(c) [_] Insurance company as defined in Section 3(a)(19) of
the Act
(d) [_] Investment company registered under Section 8 of the
Investment Company Act
(e) [_] An investment adviser in accordance with Rule
13d-1(b)(1)(ii)(E)
(f) [_] An employee benefit plan or endowment fund in
accordance with Rule 13d-1(b)(1)(ii)(F)
(g) [_] A parent holding company or control person in
accordance with Rule 13d-1(b)(ii)(G)
(h) [_] A savings association as defined in Section 3(b) of
the Federal Deposit Insurance Act (12 U.S.C. 1813)
(i) [_] A church plan that is excluded from the definition of
an investment company under Section 3(c)(14) of the
Investment Company Act of 1940 (15 U.S.C. 80a-3)
(j) [_] Group, in accordance with Rule 13d-1(b)(1)(ii)(J)
Item 4. JWA beneficially owns an aggregate of 899,629 shares of Common Stock
which represents approximately 9.5% of the issued and outstanding
shares of Common Stock. JWA has the sole power to vote or direct the
vote of 899,629 shares of Common Stock and the sole power to dispose or
to direct the disposition of 899,629 shares of Common Stock.
JWA General Partner is the general partner of JWA. As the general
partner of JWA, JWA General Partner beneficially owns an aggregate of
899,629 shares of Common Stock, which represents approximately 9.5% of
the issued and outstanding shares of Common Stock. As the general
partner of JWA, JWA General Partner has the sole power to vote or to
direct the vote of 899,629 shares of Common Stock and the sole power to
dispose or to direct the disposition of 899,629 shares of Common Stock.
Adams is the sole shareholder of JWA General Partner and may be
CUSIP NO. 46624E405 7
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deemed to beneficially own an aggregate of 899,629 shares of Common
Stock which represents approximately 9.5% of the issued and outstanding
shares of Common Stock. Adams may be deemed to have the sole power to
vote or direct the vote of 899,629 shares of Common Stock and the sole
power to dispose or to direct the disposition of 899,629 shares of
Common Stock.
Item 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS
Not applicable.
Item 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON
Not applicable.
Item 7. IDENTIFICATION AND CLASSIFICATION OF SUBSIDIARY WHICH ACQUIRED THE
SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY
Not applicable.
Item 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP
See Item 4.
Item 9. NOTICE OF DISSOLUTION OF GROUP
Not applicable.
Item 10. CERTIFICATION
By signing below, each of the undersigned certifies that, to the best
of their knowledge and belief, the securities referred to above were
not acquired and are not held for the purpose of or with the effect of
changing or influencing the control of the issuer of the securities and
were not acquired and are not held in connection with or as a
participant in any transaction having that purpose or effect.
[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]
CUSIP NO. 46624E405 8
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SIGNATURES
After reasonable inquiry and to the best of our knowledge and
belief, we certify that the information set forth in this statement is true,
complete and correct.
Dated as of March 18, 2004
JWA INVESTMENTS L.P.
By: JWA Investments Corp.
its general partner
By: /s/ John W. Adams
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Name: John W. Adams
Title: President
JWA INVESTMENTS CORP.
By: /s/ John W. Adams
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Name: John W. Adams
Title: President
/s/ John W. Adams
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John W. Adams