SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 13D
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO
13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO 13d-2(a)
(Amendment No. 7)
CAPSTEAD MORTGAGE CORPORATION
------------------------- ------------------------------
(Name of Issuer)
COMMON STOCK, PAR VALUE $0.01 PER SHARE
------------------- ----------------------------------------
(Title of Class of Securities)
14067E 40 7
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(CUSIP Number)
Randal A. Nardone
Chief Operating Officer and Secretary
Fortress Registered Investment Trust
sole member of Fortress CAP LLC
1251 Avenue of the Americas
New York, New York 10020
(212) 798-6100
-------------------------------------------------- ---------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
Copy to:
J. Gregory Milmoe
Skadden, Arps, Slate, Meagher & Flom LLP
Four Times Square
New York, New York 10036-6522
(212) 735-3000
February 28, 2003
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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 Rule
13d-1(e), 13d(f) or 13d-1(g), check the following box |_|.
(Page 1 of 13 Pages)
CUSIP No. 14067E 40 7 13D Page 2 of 13 Pages
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1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Fortress CAP LLC
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
Not applicable (b) |_|
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
Not applicable
-------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEM 2(d) or 2(e) |_|
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF SHARES 7 SOLE VOTING POWER -0-
BENEFICIALLY OWNED
BY EACH ------------------------------------------------------
REPORTING PERSON
WITH 8 SHARED VOTING POWER -3,349,359-
------------------------------------------------------
9 SOLE DISPOSITIVE POWER -0-
------------------------------------------------------
10 SHARED DISPOSITIVE POWER -3,349,359-
------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
- 3,349,359 -
-------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES |_|
-------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
24.0% (based on 13,965,489 shares of Common Stock
outstanding as of February 20, 2003)
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14 TYPE OF REPORTING PERSON
CO
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CUSIP No. 14067E 40 7 13D Page 3 of 13 Pages
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1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Fortress Registered Investment Trust
-------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
Not applicable (b) |_|
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
WC
-------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e) |_|
-------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
-------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER -0-
SHARES
BENEFICIALLY ------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER -3,349,359-
EACH
REPORTING
PERSON WITH ------------------------------------------------------
9 SOLE DISPOSITIVE POWER -0-
------------------------------------------------------
10 SHARED DISPOSITIVE POWER -3,349,359-
-------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
- 3,349,359 -
-------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES |_|
-------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
24.0% (based on 13,965,489 shares of Common Stock
outstanding as of February 20, 2003)
-------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
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CUSIP No. 14067E 40 7 13D Page 4 of 13 Pages
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1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Fortress Investment Fund LLC
-------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
Not applicable (b) |_|
-------------------------------------------------------------------------------
3 SEC USE ONLY
-------------------------------------------------------------------------------
4 SOURCE OF FUNDS
Not applicable
-------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e) |_|
-------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
-------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER -0-
SHARES
BENEFICIALLY
OWNED BY ------------------------------------------------------
EACH 8 SHARED VOTING POWER -3,349,359-
REPORTING
PERSON WITH
------------------------------------------------------
9 SOLE DISPOSITIVE POWER -0-
------------------------------------------------------
10 SHARED DISPOSITIVE POWER - 3,349,359 -
-------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
- 3,349,359 -
-------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES |_|
-------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
24.0% (based on 13,965,489 shares of Common Stock
outstanding as of February 20, 2003)
-------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
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CUSIP No. 14067E 40 7 13D Page 5 of 13 Pages
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1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Fortress Investment Group LLC
-------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
Not applicable (b) |_|
-------------------------------------------------------------------------------
3 SEC USE ONLY
-------------------------------------------------------------------------------
4 SOURCE OF FUNDS
Not applicable
-------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e) |_|
-------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
-------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER -0-
SHARES
BENEFICIALLY
OWNED BY ------------------------------------------------------
EACH 8 SHARED VOTING POWER -3,349,359-
REPORTING
PERSON WITH
------------------------------------------------------
9 SOLE DISPOSITIVE POWER -0-
------------------------------------------------------
10 SHARED DISPOSITIVE POWER -3,349,359-
-------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
- 3,349,359 -
-------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES |_|
-------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
24.0% (based on 13,965,489 shares of Common Stock
outstanding as of February 20, 2003)
-------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
-------------------------------------------------------------------------------
CUSIP No. 14067E 40 7 13D Page 6 of 13 Pages
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1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Fortress Principal Investment Holdings LLC
-------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
Not applicable (b) |_|
-------------------------------------------------------------------------------
3 SEC USE ONLY
-------------------------------------------------------------------------------
4 SOURCE OF FUNDS
Not applicable
-------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e) |_|
-------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
-------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER -0-
SHARES
BENEFICIALLY
OWNED BY ------------------------------------------------------
EACH 8 SHARED VOTING POWER -3,349,359-
REPORTING
PERSON WITH
------------------------------------------------------
9 SOLE DISPOSITIVE POWER -0-
------------------------------------------------------
10 SHARED DISPOSITIVE POWER -3,349,359-
-------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
- 3,349,359 -
-------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES |_|
-------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
24.0% (based on 13,965,489 shares of Common Stock
outstanding as of February 20, 2003)
-------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
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This Amendment No. 7 (this "Amendment") to the Statement on
Schedule 13D dated January 21, 2000, as amended by Amendment No.
1 thereto dated February 22, 2000, Amendment No. 2 thereto dated
July 12, 2000, Amendment No. 3 thereto dated September 8, 2000,
Amendment No. 4 thereto dated October 31, 2000, Amendment No. 5
thereto dated December 28, 2000 and Amendment No. 6 thereto dated
November 29, 2001 (as so amended, the "Schedule 13D") filed by
Fortress CAP LLC, a Delaware limited liability company ("Fortress
CAP"), Fortress Registered Investment Trust, a Delaware business
trust ("Fortress Trust"), Fortress Investment Fund LLC, a
Delaware limited liability company ("Fortress Fund"), Fortress
Investment Group LLC, a Delaware limited liability company
("Fortress Group"), and Fortress Principal Investment Holdings
LLC, a Delaware limited liability company ("FPIH"), relates to
the common stock, par value $0.01 per share (the "Common Stock"),
of Capstead Mortgage Corporation, a Maryland corporation
("Capstead"). This Amendment is filed jointly by Fortress CAP,
Fortress Trust, Fortress Fund, Fortress Group and FPIH
(collectively, the "Reporting Persons"). All capitalized terms
used but not defined herein have the meanings ascribed to them in
the Schedule 13D.
Item 4.
Item 4 of the Schedule 13D is hereby amended and
supplemented to add the following:
On February 28, 2003, pursuant to a block trade,
Fortress CAP sold 200,000 shares of Common Stock at $12.50
per share, yielding aggregate net proceeds of $2,500,000. On
March 3, 2002, pursuant to a block trade, Fortress CAP sold
100,000 shares of Common Stock at $12.5068 per share,
yielding aggregate net proceeds of $1,250,680. After such
sales, Fortress CAP was the direct beneficial owner of
3,349,359 shares of Common Stock, which represents
approximately 24.0% of the outstanding Common Stock. The
Reporting Persons acquired beneficial ownership of the
Capstead securities referenced in this Schedule 13D for
investment purposes and for purposes of influencing the
business and affairs of Capstead. The Reporting Persons
intend to continuously review their investment in Capstead,
and may in the future determine to (i) dispose of all or a
portion of the securities of Capstead owned by them, (ii)
acquire additional securities of Capstead, through open
market purchases, private agreements or otherwise, (iii)
take any other available course of action, which could
involve one or more of the types of transactions or have one
or more of the results described in the last paragraph of
this Item 4 or (iv) otherwise change their investment
intent. The Reporting Persons may, from time to time, in
light of their investment goals, make additional
dispositions of Common Stock. Notwithstanding anything
contained herein to the contrary, the Reporting Persons
specifically reserve the right to change their intentions
with respect to any or all of such matters. In reaching any
decision as to their course of action (as well as to the
specific elements thereof), the Reporting Persons currently
expect that they would take into consideration a variety of
factors, including, but not limited to,
Capstead's financial condition, business, operations and prospects,
other developments concerning Capstead and the mortgage business
generally, other business opportunities available to the Reporting
Persons, other developments with respect to the business of the
Reporting Persons, general economic conditions and money and stock
market conditions, including the market price of the securities of
Capstead.
Other than as described herein, none of the Reporting
Persons has any present plans or proposals which relate to
or would result in: (a) the acquisition by any person of
additional securities of Capstead or the disposition of
securities of Capstead; (b) an extraordinary corporate
transaction, such as a merger, reorganization or
liquidation, involving Capstead or any of its subsidiaries;
(c) a sale or transfer of a material amount of assets of
Capstead or any of its subsidiaries; (d) any change in the
Board of Directors or management of Capstead, including any
plans or proposals to change the number or terms of
directors or to fill any existing vacancies on the Board of
Directors of Capstead; (e) any material change in the
present capitalization or dividend policy of Capstead; (f)
any other material change in Capstead's business or
corporate structure; (g) changes in Capstead's articles of
incorporation, by-laws or instruments corresponding thereto
or other actions which may impede the acquisition of control
of Capstead by any person; (h) a class of securities of
Capstead being delisted from a national securities exchange
or ceasing to be authorized to be quoted in an inter-dealer
quotation system of a registered national securities
association; (i) a class of equity securities of Capstead
becoming eligible for termination of registration pursuant
to Section 12(g)(4) of the Securities Exchange Act of 1934,
as amended; or (j) any action similar to those enumerated
above.
Item 5.
Item 5 of the Schedule 13D is hereby amended and
supplemented to add the following:
As a result of the February 28, 2003 sale of 200,000
shares of Common Stock and the March 3, 2002 sale of 100,000
shares of Common Stock by the Reporting Persons in privately
negotiated block sales as described above, Fortress CAP is
now the direct beneficial owner of 3,349,359 shares of
Common Stock.
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.
March 4, 2003
FORTRESS CAP LLC
By: /s/ Randal A. Nardone
---------------------------------
Randal A. Nardone, as
Chief Operating Officer and
Secretary of
Fortress Registered Investment
Trust,
sole member of Fortress CAP LLC
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.
March 4, 2003
FORTRESS REGISTERED
INVESTMENT TRUST
By: /s/ Randal A. Nardone
-----------------------------------
Randal A. Nardone, as
Chief Operating Officer and
Secretary of Fortress Registered
Investment Trust
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.
March 4, 2003
FORTRESS INVESTMENT FUND LLC
By: /s/ Randal A. Nardone
-------------------------------------
Randal A. Nardone, as
Chief Operating Officer and Secretary of
Fortress Fund MM LLC,
managing member of
Fortress Investment Fund LLC
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.
March 4, 2003
FORTRESS INVESTMENT GROUP LLC
By: /s/ Randal A. Nardone
---------------------------------
Randal A. Nardone, as
Chief Operating Officer and Secretary of
Fortress Investment Group LLC
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.
March 4, 2003
FORTRESS PRINCIPAL
INVESTMENT HOLDINGS LLC
By: /s/Randal A. Nardone
-------------------------------
Randal A. Nardone, as
Secretary