UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 6)
PHOENIX GOLD INTERNATIONAL, INC.
(Name of Issuer)
COMMON STOCK, PAR VALUE $0.01 PER SHARE
(Title of Class of Securities)
719068 10 8
(CUSIP Number)
NELSON OBUS
WYNNEFIELD CAPITAL, INC.
450 SEVENTH AVENUE, SUITE 509
NEW YORK, NEW YORK 10123
(212) 760-0134
(Name, Address and Telephone Number
of Person
Authorized to Receive Notices and Communications)
FEBRUARY 24, 2003
(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 ss.ss.240.13d-1(e), 240.13d-(f) or 240.13d-1(g), check the
following box. [ ]
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).
CUSIP No.719068 10 8 13D/A Page 2 of 8 Pages
________________________________________________________________________________
1 NAME OF REPORTING PERSONS: WYNNEFIELD PARTNERS SMALL CAP VALUE, L.P.
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY): 13-3688497
________________________________________________________________________________
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [_]
________________________________________________________________________________
3 SEC USE ONLY
________________________________________________________________________________
4 SOURCE OF FUNDS*
WC (SEE ITEM 3)
________________________________________________________________________________
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) [_]
________________________________________________________________________________
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
________________________________________________________________________________
7 SOLE VOTING POWER
NUMBER OF 141,140
SHARES _________________________________________________________________
8 SHARED VOTING POWER
BENEFICIALLY
274,810
OWNED BY
_________________________________________________________________
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 141,140
PERSON _________________________________________________________________
10 SHARED DISPOSITIVE POWER
WITH
274,810
________________________________________________________________________________
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
415,950
________________________________________________________________________________
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[_]
________________________________________________________________________________
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13.8%
________________________________________________________________________________
14 TYPE OF REPORTING PERSON*
PN
________________________________________________________________________________
CUSIP No.719068 10 8 13D/A Page 3 of 8 Pages
________________________________________________________________________________
1 NAME OF REPORTING PERSONS: WYNNEFIELD PARTNERS SMALL CAP VALUE, L.P. I
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY): 13-3953291
________________________________________________________________________________
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [_]
________________________________________________________________________________
3 SEC USE ONLY
________________________________________________________________________________
4 SOURCE OF FUNDS*
WC (SEE ITEM 3)
________________________________________________________________________________
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) [_]
________________________________________________________________________________
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
________________________________________________________________________________
7 SOLE VOTING POWER
NUMBER OF 189,260
SHARES _________________________________________________________________
8 SHARED VOTING POWER
BENEFICIALLY
226,690
OWNED BY
_________________________________________________________________
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 189,260
PERSON _________________________________________________________________
10 SHARED DISPOSITIVE POWER
WITH
226,690
________________________________________________________________________________
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
415,950
________________________________________________________________________________
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[_]
________________________________________________________________________________
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13.8%
________________________________________________________________________________
14 TYPE OF REPORTING PERSON*
PN
________________________________________________________________________________
CUSIP No.719068 10 8 13D/A Page 4 of 8 Pages
________________________________________________________________________________
1 NAME OF REPORTING PERSONS: WYNNEFIELD SMALL CAP VALUE OFFSHORE FUND, LTD.
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY): Not Applicable
________________________________________________________________________________
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [_]
________________________________________________________________________________
3 SEC USE ONLY
________________________________________________________________________________
4 SOURCE OF FUNDS*
WC (SEE ITEM 3)
________________________________________________________________________________
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) [_]
________________________________________________________________________________
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
________________________________________________________________________________
7 SOLE VOTING POWER
NUMBER OF 85,550
SHARES _________________________________________________________________
8 SHARED VOTING POWER
BENEFICIALLY
330,400
OWNED BY
_________________________________________________________________
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 85,550
PERSON _________________________________________________________________
10 SHARED DISPOSITIVE POWER
WITH
330,400
________________________________________________________________________________
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
415,950
________________________________________________________________________________
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[_]
________________________________________________________________________________
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13.8%
________________________________________________________________________________
14 TYPE OF REPORTING PERSON*
PN
________________________________________________________________________________
This Amendment No. 6 amends the amended and restated Statement of
Beneficial Ownership on Schedule 13D, as amended by Amendment No. 5, filed with
the Securities and Exchange Commission on September 21, 2000 and January 24,
2002, respectively (together, the "Schedule 13D"), by Wynnefield Partners Small
Cap Value, L.P. ("Wynnefield"), Wynnefield Partners Small Cap Value, L.P. I
("Wynnefield I"), and Wynnefield Small Cap Value Offshore Fund, Ltd.
("Wynnefield Offshore") (collectively the "Reporting Persons" and/or the
"Wynnefield Group"), with respect to the shares of common stock, $0.01 par value
per share, of Phoenix Gold International, Inc., an Oregon corporation, with
offices located at 9300 N. Decatur Street, Portland, Oregon 97203 (the
"Issuer"). This Statement also includes information about the following persons
(collectively, the "Controlling Persons"): Wynnefield Capital Management, LLC
("WCM"), Wynnefield Capital, Inc. ("Capital"), Nelson Obus ("Obus") and Joshua
Landes ("Landes"). Unless specifically amended hereby, the disclosures set forth
in the Schedule 13D shall remain unchanged.
ITEM 4. PURPOSE OF TRANSACTION.
The response to Item 4 is hereby supplemented by adding the following:
On February 24, 2003, the Wynnefield Group delivered a letter, attached
hereto as Exhibit 99.1, to the Issuer's board of directors in connection with
its shareholder proposal recommending the implementation of cumulative voting to
elect the Issuer's board of directors. In such letter, the Wynnefield Group
notes that a majority of non-management/director shares voted in favor of its
cumulative voting proposal at the Issuer's annual shareholder meeting on
February 11, 2003 and urges the Issuer's board of directors to create a
reasonable exit opportunity for outside minority shareholders.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
The response to Item 7 is hereby amended and supplemented to add the
following exhibit:
Exhibit 99.1 Letter from the Wynnefield Group to the board of directors of the
Issuer, dated February 24, 2003.
SIGNATURES
After reasonable inquiry and to the best of their knowledge and belief,
the undersigned certify that the information set forth in this Statement is
true, complete, and correct.
Date: February 25, 2003
WYNNEFIELD PARTNERS SMALL CAP VALUE, LP
By: Wynnefield Capital Management, LLC,
its general partner
/s/ Nelson Obus
------------------------------------------------
Name: Nelson Obus
Title: Managing Member
WYNNEFIELD PARTNERS SMALL CAP VALUE, LP I
By: Wynnefield Capital Management,LLC,
its general partner
/s/ Nelson Obus
------------------------------------------------
Name: Nelson Obus
Title: Managing Member
WYNNEFIELD SMALL CAP VALUE OFFSHORE FUND, LTD.
By: Wynnefield Capital, Inc.,
its general partner
/s/ Nelson Obus
------------------------------------------------
Name: Nelson Obus
Title: President
Attention: Intentional misstatements or omissions of fact constitute
federal criminal violations (See 18 U.S.C. 1001).
EXHIBIT INDEX
Page No.
Exhibit 99.1 Letter from the Wynnefield Group to the board 8
of directors of the Issuer, dated February 24, 2003.