UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D/A-2
Under the Securities Exchange Act of 1934
(Amendment No. 2)
SEABULK INTERNATIONAL INC.
------------------------------
(Name of issuer)
Common Stock, $.01 Par Value Per Share
--------------------------------------
(Title of class of securities)
81169P101
------------------------
(CUSIP number)
Arthur H. Amron, Esq.
Wexford Capital LLC
411 West Putnam Avenue
Greenwich, CT 06830
(203) 862-7012
----------------------------------------------------
(Name, address and telephone number of person authorized to
receive notices and communications)
January 30, 2004
----------------------------------
(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-1(f) or 240.13d-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 ss. 240.13d-7 for other
parties to whom copies are to be sent.
Page 1 of 12 Pages
CUSIP No. 81169P101
-------------------------------------------------------------------------------------------------------------------
1. Names of Reporting Persons. Wexford Spectrum Investors LLC
I.R.S. Identification Nos. of Above Persons (entities only)
(Intentionally Omitted)
-------------------------------------------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group (a) [ ]
(See Instructions) (b) [ ]
-------------------------------------------------------------------------------------------------------------------
3. SEC Use Only
-------------------------------------------------------------------------------------------------------------------
4. Source of Funds (See Instructions) OO
-------------------------------------------------------------------------------------------------------------------
5. Check if Disclosure of Legal Proceedings is
Required Pursuant to Items 2(d) or 2(e) [ ]
-------------------------------------------------------------------------------------------------------------------
6. Citizenship or Place of Organization Delaware
-------------------------------------------------------------------------------------------------------------------
Number of Shares 7. Sole Voting Power 0
Beneficially
Owned by Each -------------------------------------------------------------------------------
Reporting 8. Shared Voting Power (see Item 5 below) 84,035
Person With
----------------------------------------------------------------------------------------
9. Sole Dispositive Power 0
-------------------------------------------------------------------------------
10. Shared Dispositive Power (see Item 5 below) 84,035
-------------------------------------------------------------------------------------------------------------------
11. Aggregate Amount Beneficially
Owned by Each Reporting Person 84,035
-------------------------------------------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes
Certain Shares (See Instructions) [ ]
-------------------------------------------------------------------------------------------------------------------
13. Percent of Class Represented by Amount in Row (11) less than 1%
-------------------------------------------------------------------------------------------------------------------
14. Type of Reporting Person (See Instructions) CO
-------------------------------------------------------------------------------------------------------------------
Page 2 of 12 Pages
CUSIP No. 81169P101
-------------------------------------------------------------------------------------------------------------------
1. Names of Reporting Persons. Valentis Investors, LLC
I.R.S. Identification Nos. of Above Persons (entities only)
(Intentionally Omitted)
-------------------------------------------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group (a) [ ]
(See Instructions) (b) [ ]
-------------------------------------------------------------------------------------------------------------------
3. SEC Use Only
-------------------------------------------------------------------------------------------------------------------
4. Source of Funds (See Instructions) OO
-------------------------------------------------------------------------------------------------------------------
5. Check if Disclosure of Legal Proceedings is
Required Pursuant to Items 2(d) or 2(e) [ ]
-------------------------------------------------------------------------------------------------------------------
6. Citizenship or Place of Organization Delaware
-------------------------------------------------------------------------------------------------------------------
Number of Shares 7. Sole Voting Power 0
Beneficially
Owned by Each -------------------------------------------------------------------------------
Reporting 8. Shared Voting Power (see Item 5 below) 84,100
Person With
----------------------------------------------------------------------------------------
9. Sole Dispositive Power 0
-------------------------------------------------------------------------------
10. Shared Dispositive Power (see Item 5 below) 84,100
-------------------------------------------------------------------------------------------------------------------
11. Aggregate Amount Beneficially
Owned by Each Reporting Person 84,100
-------------------------------------------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes
Certain Shares (See Instructions) [ ]
-------------------------------------------------------------------------------------------------------------------
13. Percent of Class Represented by Amount in Row (11) less than 1%
-------------------------------------------------------------------------------------------------------------------
14. Type of Reporting Person (See Instructions) CO
-------------------------------------------------------------------------------------------------------------------
Page 3 of 12 Pages
CUSIP No. 81169P101
-------------------------------------------------------------------------------------------------------------------
1. Names of Reporting Persons. Solitair LLC
I.R.S. Identification Nos. of Above Persons (entities only)
(Intentionally Omitted)
-------------------------------------------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group (a) [ ]
(See Instructions) (b) [ ]
-------------------------------------------------------------------------------------------------------------------
3. SEC Use Only
-------------------------------------------------------------------------------------------------------------------
4. Source of Funds (See Instructions) OO
-------------------------------------------------------------------------------------------------------------------
5. Check if Disclosure of Legal Proceedings is
Required Pursuant to Items 2(d) or 2(e) [ ]
-------------------------------------------------------------------------------------------------------------------
6. Citizenship or Place of Organization Delaware
-------------------------------------------------------------------------------------------------------------------
Number of Shares 7. Sole Voting Power
Beneficially 0
Owned by Each -------------------------------------------------------------------------------
Reporting 8. Shared Voting Power (see Item 5 below)
Person With 180,000
----------------------------------------------------------------------------------------
9. Sole Dispositive Power
0
-------------------------------------------------------------------------------
10. Shared Dispositive Power (see Item 5 below)
180,000
-------------------------------------------------------------------------------------------------------------------
11. Aggregate Amount Beneficially
Owned by Each Reporting Person
180,000
-------------------------------------------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes
Certain Shares (See Instructions) [ ]
-------------------------------------------------------------------------------------------------------------------
13. Percent of Class Represented by Amount in Row (11) less than 1%
-------------------------------------------------------------------------------------------------------------------
14. Type of Reporting Person (See Instructions) CO
-------------------------------------------------------------------------------------------------------------------
Page 4 of 12 Pages
CUSIP No. 81169P101
-------------------------------------------------------------------------------------------------------------------
1. Names of Reporting Persons. Taurus Investors LLC
I.R.S. Identification Nos. of Above Persons (entities only)
(Intentionally Omitted)
-------------------------------------------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group (a) [ ]
(See Instructions) (b) [ ]
-------------------------------------------------------------------------------------------------------------------
3. SEC Use Only
-------------------------------------------------------------------------------------------------------------------
4. Source of Funds (See Instructions) OO
-------------------------------------------------------------------------------------------------------------------
5. Check if Disclosure of Legal Proceedings is
Required Pursuant to Items 2(d) or 2(e) [ ]
-------------------------------------------------------------------------------------------------------------------
6. Citizenship or Place of Organization Delaware
-------------------------------------------------------------------------------------------------------------------
Number of Shares 7. Sole Voting Power
Beneficially 0
Owned by Each -------------------------------------------------------------------------------
Reporting 8. Shared Voting Power (see Item 5 below)
Person With 883,666
----------------------------------------------------------------------------------------
9. Sole Dispositive Power
0
-------------------------------------------------------------------------------
10. Shared Dispositive Power (see Item 5 below)
883,666
-------------------------------------------------------------------------------------------------------------------
11. Aggregate Amount Beneficially
Owned by Each Reporting Person
883,666
-------------------------------------------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes
Certain Shares (See Instructions) [ ]
-------------------------------------------------------------------------------------------------------------------
13. Percent of Class Represented by Amount in Row (11) 3.8%
-------------------------------------------------------------------------------------------------------------------
14. Type of Reporting Person (See Instructions) CO
-------------------------------------------------------------------------------------------------------------------
Page 5 of 12 Pages
CUSIP No. 81169P101
-------------------------------------------------------------------------------------------------------------------
1. Names of Reporting Persons. Charles E. Davidson
I.R.S. Identification Nos. of Above Persons (entities only)
(Intentionally Omitted)
-------------------------------------------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group (a) [ ]
(See Instructions) (b) [ ]
-------------------------------------------------------------------------------------------------------------------
3. SEC Use Only
-------------------------------------------------------------------------------------------------------------------
4. Source of Funds (See Instructions) OO
-------------------------------------------------------------------------------------------------------------------
5. Check if Disclosure of Legal Proceedings is
Required Pursuant to Items 2(d) or 2(e) [ ]
-------------------------------------------------------------------------------------------------------------------
6. Citizenship or Place of Organization United States
-------------------------------------------------------------------------------------------------------------------
Number of Shares 7. Sole Voting Power 0
Beneficially
Owned by Each -------------------------------------------------------------------------------
Reporting 8. Shared Voting Power (see Item 5 below) 1,231,801
Person With
----------------------------------------------------------------------------------------
9. Sole Dispositive Power 0
-------------------------------------------------------------------------------
10. Shared Dispositive Power (see Item 5 below) 1,231,801
-------------------------------------------------------------------------------------------------------------------
11. Aggregate Amount Beneficially
Owned by Each Reporting Person 1,231,801
-------------------------------------------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes
Certain Shares (See Instructions) [ ]
-------------------------------------------------------------------------------------------------------------------
13. Percent of Class Represented by Amount in Row (11) 5.3%
-------------------------------------------------------------------------------------------------------------------
14. Type of Reporting Person (See Instructions) IN
-------------------------------------------------------------------------------------------------------------------
Page 6 of 12 Pages
CUSIP No. 81169P101
-------------------------------------------------------------------------------------------------------------------
1. Names of Reporting Persons. Joseph M. Jacobs
I.R.S. Identification Nos. of Above Persons (entities only)
(Intentionally Omitted)
-------------------------------------------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group (a) [ ]
(See Instructions) (b) [ ]
-------------------------------------------------------------------------------------------------------------------
3. SEC Use Only
-------------------------------------------------------------------------------------------------------------------
4. Source of Funds (See Instructions) OO
-------------------------------------------------------------------------------------------------------------------
5. Check if Disclosure of Legal Proceedings is
Required Pursuant to Items 2(d) or 2(e) [ ]
-------------------------------------------------------------------------------------------------------------------
6. Citizenship or Place of Organization United States
-------------------------------------------------------------------------------------------------------------------
Number of Shares 7. Sole Voting Power 0
Beneficially
Owned by Each -------------------------------------------------------------------------------
Reporting 8. Shared Voting Power (see Item 5 below) 1,231,801
Person With
----------------------------------------------------------------------------------------
9. Sole Dispositive Power 0
-------------------------------------------------------------------------------
10. Shared Dispositive Power (see Item 5 below) 1,231,801
-------------------------------------------------------------------------------------------------------------------
11. Aggregate Amount Beneficially
Owned by Each Reporting Person 1,231,801
-------------------------------------------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes
Certain Shares (See Instructions) [ ]
-------------------------------------------------------------------------------------------------------------------
13. Percent of Class Represented by Amount in Row (11) 5.3%
-------------------------------------------------------------------------------------------------------------------
14. Type of Reporting Person (See Instructions) IN
-------------------------------------------------------------------------------------------------------------------
Page 7 of 12 Pages
CUSIP No. 81169P101
-------------------------------------------------------------------------------------------------------------------
1. Names of Reporting Persons. Wexford Capital LLC
I.R.S. Identification Nos. of Above Persons (entities only)
(Intentionally Omitted)
-------------------------------------------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group (a) [ ]
(See Instructions) (b) [ ]
-------------------------------------------------------------------------------------------------------------------
3. SEC Use Only
-------------------------------------------------------------------------------------------------------------------
4. Source of Funds (See Instructions) OO
-------------------------------------------------------------------------------------------------------------------
5. Check if Disclosure of Legal Proceedings is
Required Pursuant to Items 2(d) or 2(e) [ ]
-------------------------------------------------------------------------------------------------------------------
6. Citizenship or Place of Organization Connecticut
-------------------------------------------------------------------------------------------------------------------
Number of Shares 7. Sole Voting Power 0
Beneficially
Owned by Each -------------------------------------------------------------------------------
Person With 8. Shared Voting Power (see Item 5 below) 1,231,801
----------------------------------------------------------------------------------------
9. Sole Dispositive Power 0
-------------------------------------------------------------------------------
10. Shared Dispositive Power (see Item 5 below) 1,231,801
-------------------------------------------------------------------------------------------------------------------
11. Aggregate Amount Beneficially
Owned by Each Reporting Person 1,231,801
-------------------------------------------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes
Certain Shares (See Instructions) [ ]
-------------------------------------------------------------------------------------------------------------------
13. Percent of Class Represented by Amount in Row (11) 5.3%
-------------------------------------------------------------------------------------------------------------------
14. Type of Reporting Person (See Instructions) CO
-------------------------------------------------------------------------------------------------------------------
Page 8 of 12 Pages
This Amendment No. 2 to Schedule 13D modifies and supplements the
Schedule 13D initially filed on April 22, 2002, as amended by Amendment No. 1 to
Schedule 13D filed on June 21, 2002 (as amended, the "Statement") with respect
to the common stock, $0.01 par value per share (the "Common Stock"), of Seabulk
International Inc. (the "Company"). Except to the extent supplemented by the
information contained in this Amendment No. 2, the Statement remains in full
force and effect. Capitalized terms used herein without definition have the
respective meanings ascribed to them in the Statement.
ITEM 2. IDENTITY AND BACKGROUND.
-----------------------
Since the date of the Statement, Solitair Corp. distributed its shares
of Common Stock to Solitair LLC, a Delaware limited liability company owned 100%
by private investment funds managed by Wexford Capital.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
------------------------------------
In June 2002, Taurus acquired an aggregate 51,000 shares of Common
Stock in open market purchases at an average purchase price of $7.01 per share.
On January 30, 2004, the Reporting Persons disposed of an aggregate of 1,200,000
shares of Common Stock at a price of $10.08 per share. As a result of the
foregoing, the Reporting Persons may be deemed to own beneficially the
respective percentages and numbers of shares of Common Stock set forth below (on
the basis of 23,336,404 shares of Common Stock issued and outstanding on
November 1, 2003, as reported in the Company's Form 10-Q filed November 14,
2003).
WEXFORD SPECTRUM INVESTORS, LLC
(a) Amount beneficially owned: 84,035
(b) Percent of class: less than 1%
(c) Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote: 0
(ii) Shared power to vote or to direct the vote: 84,035
(iii) Sole power to dispose or to direct the disposition of: 0
(iv) Shared power to dispose or to direct the disposition of: 84,035
VALENTIS INVESTORS, LLC
(a) Amount beneficially owned: 84,100
(b) Percent of class: less than 1%
(c) Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote: 0
(ii) Shared power to vote or to direct the vote: 84,100
(iii) Sole power to dispose or to direct the disposition of: 0
(iv) Shared power to dispose or to direct the disposition of: 84,100
SOLITAIR LLC
(a) Amount beneficially owned: 180,000
Page 9 of 12 Pages
(b) Percent of class: less than 1%
(c) Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote: 0
(ii) Shared power to vote or to direct the vote: 180,000
(iii) Sole power to dispose or to direct the disposition of: 0
(iv) Shared power to dispose or to direct the disposition of: 180,000
TAURUS INVESTORS LLC
(a) Amount beneficially owned: 883,666
(b) Percent of class: 3.8%
(c) Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote: 0
(ii) Shared power to vote or to direct the vote: 883,666
(iii) Sole power to dispose or to direct the disposition of: 0
(iv) Shared power to dispose or to direct the disposition of: 883,666
CHARLES E. DAVIDSON
(a) Amount beneficially owned: 1,231,801
(b) Percent of class: 5.3%
(c) Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote: 0
(ii) Shared power to vote or to direct the vote: 1,231,801
(iii) Sole power to dispose or to direct the disposition of: 0
(iv) Shared power to dispose or to direct the disposition of: 1,231,801
JOSEPH M. JACOBS
(a) Amount beneficially owned: 1,231,801
(b) Percent of class: 5.3%
(c) Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote: 0
(ii) Shared power to vote or to direct the vote: 1,231,801
Page 10 of 12 Pages
(iii) Sole power to dispose or to direct the disposition of: 0
(iv) Shared power to dispose or to direct the disposition of: 1,231,801
WEXFORD CAPITAL LLC
(a) Amount beneficially owned: 1,231,801
(b) Percent of class: 5.3%
(c) Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote: 0
(ii) Shared power to vote or to direct the vote: 1,231,801
(iii) Sole power to dispose or to direct the disposition of: 0
(iv) Shared power to dispose or to direct the disposition of: 1,231,801
Wexford Capital may, by reason of its status as investment advisor to
the Stockholders, be deemed to own beneficially the shares of Common Stock of
which the Stockholders possess beneficial ownership.
Each of Charles E. Davidson and Joseph M. Jacobs may, by reason of his
status as a controlling person of Wexford Capital, be deemed to own beneficially
the shares of Common Stock of which the Stockholders possess beneficial
ownership.
Each of Charles E. Davidson, Joseph M. Jacobs and Wexford Capital
shares the power to vote and to dispose of the shares of Common Stock
beneficially owned by the Stockholders.
Except as set forth above, the Reporting Persons have not effected any
transactions in the Common Stock during the 60 days preceding the date of this
Amendment No. 2 to Schedule 13D.
* * * * *
Page 11 of 12 Pages
SIGNATURE
---------
After reasonable inquiry and to the best of each 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.
Dated: February 3, 2004
WEXFORD SPECTRUM INVESTORS LLC
By: /s/ Arthur H. Amron
------------------------
Name: Arthur H. Amron
Title: Vice President
VALENTIS INVESTORS, LLC
By: /s/ Arthur H. Amron
------------------------
Name: Arthur H. Amron
Title: Vice President
TAURUS INVESTORS LLC
By: /s/ Arthur H. Amron
------------------------
Name: Arthur H. Amron
Title: Vice President
SOLITAIR LLC
By: /s/ Arthur H. Amron
------------------------
Name: Arthur H. Amron
Title: Vice President
WEXFORD CAPITAL LLC
By: /s/ Arthur H. Amron
------------------------
Name: Arthur H. Amron
Title: Principal and Secretary
/s/ Charles E. Davidson
-----------------------
CHARLES E. DAVIDSON
/s/ Joseph M. Jacobs
--------------------
JOSEPH M. JACOBS
Page 12 of 12 Pages