UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amnendment No. 4)
Summer Infant, Inc. |
(Name of Issuer) |
Common Stock, par value $0.0001 per share |
(Title of Class of Securities) |
865646103 |
(CUSIP Number) |
Simon M. Lorne, Esq. Millennium Management LLC 666 Fifth Avenue, 8th Floor New York, New York 10103 (212) 841-4100 |
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications) |
November 8, 2007 |
(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 § 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g) check the following box o .
SCHEDULE 13D
CUSIP No. 865646103 |
1 |
NAMES
OF REPORTING PERSONS.
I.R.S.
IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY).
Millenco LLC 13-3532932 | ||
2 |
CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a)
o
(b)
þ
| ||
3 |
SEC
USE ONLY | ||
4 |
SOURCE
OF FUNDS WC, OO | ||
5 |
CHECK
BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d)
OR 2(e) þ | ||
6 |
CITIZENSHIP
OR PLACE OF
ORGANIZATION Delaware |
NUMBER
OF
SHARES
BENEFICIALLY
OWNED
BY
EACH
REPORTING
PERSON
WITH |
7 |
SOLE
VOTING POWER -0- | |
8 |
SHARED
VOTING POWER 225,308 (See Item 6) | ||
9 |
SOLE
DISPOSITIVE POWER -0- | ||
10 |
SHARED
DISPOSITIVE POWER 225,308 (See Item 6) |
11 |
AGGREGATE
AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 225,308 (See Item 6) |
12 |
CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES
o |
13 |
PERCENT
OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 1.6% |
14 |
TYPE
OF REPORTING PERSON OO, BD |
SCHEDULE 13D
CUSIP No. 865646103 |
1 |
NAMES
OF REPORTING PERSONS.
I.R.S.
IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY).
Millennium Management LLC 13-3804139 |
2 |
CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a)
o
(b)
þ
|
3 |
SEC
USE ONLY |
4 |
SOURCE
OF FUNDS WC, OO |
5 |
CHECK
BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d)
OR 2(e) þ |
6 |
CITIZENSHIP
OR PLACE OF
ORGANIZATION Delaware |
NUMBER
OF
SHARES
BENEFICIALLY
OWNED
BY
EACH
REPORTING
PERSON
WITH |
7 |
SOLE
VOTING POWER -0- |
8 |
SHARED
VOTING POWER 225,308 (See Item 6) | |
9 |
SOLE
DISPOSITIVE POWER -0- | |
10 |
SHARED
DISPOSITIVE POWER
225,308 (See Item 6) |
11 |
AGGREGATE
AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
225,308 (See Item 6) |
12 |
CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES o
|
13 |
PERCENT
OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 1.6% |
14 |
TYPE
OF REPORTING PERSON OO |
SCHEDULE 13D
CUSIP No. 865646103 |
1 |
NAMES
OF REPORTING PERSONS.
I.R.S.
IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY). Israel A. Englander |
2 |
CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a)
o
(b)
þ
|
3 |
SEC
USE ONLY |
4 |
SOURCE OF FUNDS WC, OO |
5 |
CHECK
BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d)
OR 2(e) þ |
6 |
CITIZENSHIP
OR PLACE OF ORGANIZATION United States |
NUMBER
OF
SHARES
BENEFICIALLY
OWNED
BY
EACH
REPORTING
PERSON
WITH |
7 |
SOLE
VOTING POWER -0- |
8 |
SHARED
VOTING POWER
225,308 (See Item 6) | |
9 |
SOLE
DISPOSITIVE POWER -0- | |
10 |
SHARED
DISPOSITIVE POWER 225,308 (See Item 6) |
11 |
AGGREGATE
AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 225,308 (See Item 6) |
12 |
CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES o
|
13 |
PERCENT
OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.6% |
14 |
TYPE
OF REPORTING PERSON IN |
Explanatory Note
Introduction
This Amendment No. 4 to Schedule 13D ("Amendment No. 4 to Schedule 13D") amends Amendment No. 3 to Schedule 13D filed on October 11, 2007 ("Amendment No. 3 to Schedule 13D") by the Reporting Persons, relating to their beneficial ownership of the Common Stock (as defined in Item 1, below) of Summer Infant, Inc. (the "Issuer").
Amendment No. 4 to Schedule 13D (i) amends and restates Item 3, Item 5 and Item 6 and (ii) reflects a material change in the number of shares beneficially owned by each Reporting Person and the percentage of class represented by such ownership since the filing of Amendment No. 3 to Schedule 13D for each Reporting Person. Except for the above-referenced amendments, Amendment No. 4 to Schedule 13D does not modify any of the information previously reported on Amendment No. 3 to Schedule 13D.
Item 1. Security and Issuer.
The name of the Issuer is Summer Infant, Inc., a Delaware corporation. The address of the Issuers offices is 1275 Park East Drive, Woonsocket, Rhode Island 02895. This Amendment No. 3 to Schedule 13D relates to the Issuers common stock, par value $0.0001 per share (the "Common Stock"). The Reporting Persons hold warrants ("Warrants") to purchase the Issuers Common Stock.
Item 2. Identity and Background.
(a)-(c), (f). This statement is being filed by Millenco LLC, a Delaware limited liability company (formerly Millenco, L.P., a Delaware limited partnership) ("Millenco"). Millenco is a broker-dealer and a member of the American Stock Exchange and the NASDAQ. Millennium Management LLC, a Delaware limited liability company ("Millennium Management"), is the manager of Millenco, and consequently may be deemed to have voting control and investment discretion over securities owned by Millenco. Israel A. Englander ("Mr. Englander") is the managing member of Millennium Management. As a result, Mr. Englander may be deemed to be the beneficial owner of any shares deemed to be beneficially owned by Millennium Management. The foregoing should not be construed in and of itself as an admission by Millennium Management or Mr. Englander as to beneficial ownership of the shares owned by Millenco.
The business address for Millenco, Millennium Management and Mr. Englander is c/o Millennium Management LLC, 666 Fifth Avenue, New York, New York 10103. Mr. Englander is a United States citizen.
Note: Integrated Holding Group LP, a Delaware limited partnership ("Integrated Holding Group"), is a non-managing member of Millenco. As a non-managing member, Integrated Holding Group has no voting control or investment discretion over Millenco or its securities positions.
(d) During the last five years, none of the Reporting Persons has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).
(e) On December 1, 2005, Millennium Management and Mr. Englander, together with Millennium Partners, L.P. ("Millennium Partners") and certain related persons and entities, entered into settlements with the Securities and Exchange Commission ("SEC") and the Attorney General of the State of New York (the "NYAG") relating to allegations that Millennium Partners had engaged in a pattern of deceptive "market timing" of mutual fund shares in years prior to 2004 and, in the case of the settlement with the NYAG only, had failed to take adequate steps to prevent a trader from engaging in mutual fund "late trading" in violation of firm policy. The parties neither admitted nor denied the allegations or findings (except as to jurisdiction) but consented to the entry of findings. The SEC proceedings are In the Matter of Millennium Partners, L.P., et al. Securities Act Release No. 8639 (December 1, 2005), available at www.sec.gov. Contemporaneously, the NYAG issued an Assurance of Discontinuance relating to the claims and findings of that office.
Neither the Reporting Persons nor any other party admitted or denied any of the allegations or findings in these matters. The remedies included disgorgement by the entities of approximately $148 million of mutual fund trading profits, civil penalties aggregating approximately $32.15 million (with approximately $30 million being paid by Mr. Englander), an administrative order to cease and desist from violations of the antifraud provisions of the Securities Act of 1933 and the Securities Exchange Act of 1934 (the "Exchange Act"), and prophylactic relief.
Item 3. Source and Amount of Funds or Other Consideration.
The amount of funds used to purchase the 225,308 Warrants held by Millenco in the transactions giving rise to this Amendment No. 4 to Schedule 13D was approximately $207,500, calculated on an average cost basis (excluding brokerage commissions) by account. Millenco effects purchases of securities primarily through margin accounts maintained for it with prime brokers, which may extend margin credit to Millenco as and when required to open or carry positions in the margin accounts, subject to applicable Federal margin regulations, stock exchange rules and the prime brokers credit policies. In such instances, the positions held in the margin accounts are pledged as collateral security for the repayment of debit balances in the accounts.
Item 4. Purpose of Transaction.
The Reporting Persons are engaged in the investment business. In pursuing this business, the Reporting Persons analyze the operations, capital structure and markets of companies, including the Issuer, on a continuous basis, through analysis of documentation and discussions with knowledgeable industry and market observers and with representatives of such companies (often at the invitation of management). From time to time, one or more of the Reporting Persons may hold discussions with third parties or with management of such companies in which the Reporting Persons may suggest or take a position with respect to potential changes in the operations, management or capital structure of such companies as a means of enhancing shareholder value. Such suggestions or positions may relate to one or more of the transactions specified in clauses (a) through (j) of Item 4 of Schedule 13D of the Exchange Act, including, without limitation, such matters as disposing of or selling all or a portion of the company or acquiring another company or business, changing operating or marketing strategies, adopting or not adopting certain types of anti-takeover measures and restructuring the Issuers capitalization or dividend policy.
The Reporting Persons employ the services of a number of portfolio managers, each of whom independently employs a separate and distinct trading strategy. A portion of the securities of the Issuer held by the Reporting Persons are held in accounts of the Reporting Persons managed by portfolio managers who engage in event-, risk- or merger-arbitrage or fundamental strategies.
Except as set forth above, the Reporting Persons do not have any present plans or proposals that relate to or would result in any of the actions required to be described in Item 4 of Schedule 13D. Each of the Reporting Persons may, at any time, review or reconsider its position with respect to the Issuer and formulate plans or proposals with respect to any of such matters, but has no present intention of doing so.
Item 5. Interest in Securities of the Issuer.
(a) As the date hereof, Millenco held 225,308 Warrants to purchase the Issuers Common Stock. Each Warrant, which became exercisable upon the Issuers completion of a business combination on March 6, 2007, entitles the holder to purchase one share of the Issuers Common Stock at a price of $5.00 per share.
(b) Millenco may be deemed to hold shared power to vote and to dispose of the 225,308 shares of Common Stock described in (a) above. Mr. Englander and Millennium Management may be deemed to hold shared power to vote and to dispose of the 225,308 shares of Common Stock described in (a) above, which represents approximately 1.6% of the outstanding shares of Common Stock. The calculation of the foregoing percentage is on the basis of 13,907,892 shares of the Issuers Common Stock outstanding as of August 3, 2007, as disclosed by the Issuer in its Quarterly Report on Form 10-Q, dated August 10, 2007.
The foregoing should not be construed in and of itself as an admission by Millennium Management or Mr. Englander as to beneficial ownership of the shares owned by Millenco.
(c) Transactions in the Issuers Common Stock and Warrants since October 11, 2007, the date of Amendment No. 3 to Schedule 13D: Schedule A annexed hereto lists all transactions in the Issuers Common Stock and Warrants since October 11, 2007, the date of Amendment No. 3 to Schedule 13D. On November 6, 2007, Millenco tendered 1,200,000 Warrants to the Issuer for $1.00 per Warrant. All of the other transactions in the Issuers Common Stock and Warrants were effected by Millenco in the open market.
(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 proceeds from the sale of, the shares of Common Stock reported in this Statement.
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer.
Millenco maintains an open short position of 153,273 shares of Common Stock, which position is not netted against the data provided herein as to the number of shares beneficially owned by the Reporting Persons.
In connection with arrangements with Millencos prime brokers, such prime brokers are permitted to lend securities in Millencos accounts to the extent permitted by debit balances in such account. Millenco generally will not have any knowledge of the specific loans made by such prime brokers. In addition, in the ordinary course of business, Millenco (or its prime brokers), may borrow securities to satisfy delivery obligations arising from short sales and may lend securities to third parties and such loans generally may be recalled upon demand. However, it should be noted that shares lent by Millenco or its prime brokers may not be able to be recalled in advance of an applicable record date and thus, such loaned shares may not be able to be voted by Millenco.
There are no other contracts, arrangements, understandings or relationships among the Reporting Persons, or between the Reporting Persons and any other person, with respect to the securities of the Issuer.
Item 7. Material to Be Filed as Exhibits.
Exhibit I: Joint Filing Agreement, dated as of November 8, 2007, by and among Millenco LLC, Millennium Management LLC and Israel A. Englander.
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.
Dated: November 8, 2007
MILLENCO LLC
By: /s/ Mark MeskinName: Mark Meskin
Title: Chief Executive Officer
MILLENNIUM MANAGEMENT LLC
By: /s/David NolanName: David Nolan
Title: Co-President
/s/ Israel A. Englander by David Nolan
pursuant to Power of Attorney filed with
the SEC on June 6, 2005Israel A. Englander
EXHIBIT I
JOINT FILING AGREEMENT
This will confirm the agreement by and among the undersigned that the Schedule 13D filed with the Securities and Exchange Commission on or about the date hereof with respect to the beneficial ownership by the undersigned of the Common Stock, par value $0.0001 per share, of Summer Infant, Inc., a Delaware corporation, is being filed, and all amendments thereto will be filed, on behalf of each of the persons and entities named below in accordance with Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.
Dated: November 8, 2007
MILLENCO LLC
By: /s/ Mark MeskinName: Mark Meskin
Title: Chief Executive Officer
MILLENNIUM MANAGEMENT LLC
By: /s/David NolanName: David Nolan
Title: Co-President
/s/ Israel A. Englander by David Nolan
pursuant to Power of Attorney filed with
the SEC on June 6, 2005Israel A. Englander
Schedule A
Transactions in the Issuers Common Stock and Warrants since October 11, 2007, the date of Amendment No. 3 to Schedule 13D:
Date of Transaction Class of Securities Quantity Purchased
(Sold)Price Per Share
$10/23/2007 Common Stock (50,000) 5.2002 10/24/2007 Common Stock (10,100) 5.3 10/25/2007 Common Stock (25,000) 5.25 11/2/2007 Common Stock (100) 5.29 11/2/2007 Common Stock (100) 5.29 11/2/2007 Common Stock (100) 5.32 11/2/2007 Common Stock (100) 5.29 11/2/2007 Common Stock (100) 5.29 11/5/2007 Common Stock (100) 5.32 11/5/2007 Common Stock (100) 5.32 11/5/2007 Common Stock (100) 5.35 11/5/2007 Common Stock (100) 5.32 11/5/2007 Common Stock (100) 5.32 11/6/2007 Common Stock 399 5.36 11/6/2007 Common Stock (300) 5.39 11/6/2007 Common Stock (200) 5.39 11/6/2007 Common Stock (200) 5.39 11/6/2007 Common Stock (100) 5.39 11/6/2007 Common Stock (100) 5.39 11/6/2007 Common Stock (100) 5.39 11/6/2007 Common Stock (100) 5.39 11/6/2007 Common Stock (100) 5.39 11/6/2007 Common Stock (100) 5.39 11/6/2007 Common Stock (100) 5.39 11/6/2007 Common Stock (100) 5.39 11/6/2007 Common Stock (100) 5.39 11/6/2007 Common Stock (100) 5.39 11/6/2007 Common Stock (100) 5.39 11/6/2007 Warrants 25,000 1 11/6/2007 * Warrants (1,200,000) 1 11/6/2007 Warrants 200 1.02 11/6/2007 Warrants 800 1.02 11/6/2007 Warrants 1,000 1.02 11/6/2007 Warrants 1,000 1.02 11/6/2007 Warrants 1,000 1.02 11/6/2007 Warrants 1,000 1.02 11/6/2007 Warrants 1,300 1.02 11/6/2007 Warrants 2,700 1.02 11/6/2007 Warrants 4,000 1.01 11/6/2007 Warrants 4,000 1.02 11/7/2007 Common Stock (19,400) 5.25 11/7/2007 Common Stock (4,000) 5.25 11/7/2007 Common Stock (3,399) 5.25 11/7/2007 Common Stock (3,001) 5.25 11/7/2007 Common Stock (1,000) 5.25 11/7/2007 Common Stock (1,000) 5.25 11/7/2007 Common Stock (1,000) 5.25 11/7/2007 Common Stock (1,000) 5.25 11/7/2007 Common Stock (500) 5.25 11/7/2007 Common Stock (500) 5.25 11/7/2007 Common Stock (100) 5.25 11/7/2007 Common Stock (100) 5.25 11/7/2007 Warrants 10,000 1 11/7/2007 Warrants 1,000 1.01 11/7/2007 Warrants 2,000 1.01 11/7/2007 Warrants 3,000 1.01 11/7/2007 Warrants 7,000 1.01 11/7/2007 Warrants 7,000 1.01 11/7/2007 Warrants 20,000 1.01 11/7/2007 Warrants 20,000 1.01 11/8/2007 Common Stock (9,000) 5.25 11/8/2007 Common Stock (4,900) 5.23 11/8/2007 Common Stock (4,000) 5.25 11/8/2007 Common Stock (4,000) 5.25 11/8/2007 Common Stock (3,700) 5.23 11/8/2007 Common Stock (1,999) 5.25 11/8/2007 Common Stock (1,000) 5.23 11/8/2007 Common Stock (1,000) 5.25 11/8/2007 Common Stock (1,000) 5.25 11/8/2007 Common Stock (1,000) 5.25 11/8/2007 Common Stock (1,000) 5.25 11/8/2007 Common Stock (1,000) 5.25 11/8/2007 Common Stock (1,000) 5.25 11/8/2007 Common Stock (200) 5.25 11/8/2007 Common Stock (100) 5.23 11/8/2007 Common Stock (100) 5.23 11/8/2007 Common Stock (1) 5.25 Notes:
*On November 6, 2007, Millenco LLC tendered 1,200,000 Warrants to the Issuer for $1.00 per Warrant.
All of the remaining transactions in the Issuers Common Stock and Warrants listed above were effected by Millenco LLC in the open market. Some of the sales listed above were short sales.