Schedule 13D/A
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D/A
Under the Securities Exchange Act of 1934
(Amendment No. 10)*
LBS Industries, Inc.
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(Name of Issuer)
Common Stock, Par Value $0.010 per share
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(Title of Class of Securities)
502160104
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(CUSIP Number)
Jayhawk Capital Management, L.L.C.
Attention: Kent C. McCarthy
5410 West 61st Place, Suite 100
Mission, Kansas 66205
(913) 642-2611
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
Copy to:
Kirstin P. Salzman
Blackwell Sanders Peper Martin LLP
4801 Main Street, Suite 1000
Kansas City, Missouri 64112
(816) 983-8000
November 16, 2007
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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 that is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(e), Rule 13d-1(f) or Rule 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.
* 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. 502160104
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1 NAME OF REPORTING PERSON:
Kent C. McCarthy
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (Entities Only):
---------- ----------------------------------------------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
2 (a) [ ]
(b) [X]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS (See Instructions):
Not Applicable.
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5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e): [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION:
United States
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7 SOLE VOTING POWER:
204,240 (1)
----- -----------------------------------------------------------------------------------------------
NUMBER OF SHARES
BENEFICIALLY OWNED BY 8 SHARED VOTING POWER:
EACH REPORTING PERSON 736,500 (2)
WITH ----- -----------------------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER:
204,240 (1)
----- -----------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER:
736,500 (2)
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:
940,740
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12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions): [ ]
---------- ----------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):
4.5%
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14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS):
IN
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(1) These shares are held of record by the Kent C. McCarthy Revocable Trust
("Trust") of which Mr. McCarthy is the trustee and sole beneficiary.
(2) Of the shares listed, 527,400 are beneficially owned by Jayhawk
Institutional and 209,100 are beneficially owned directly by Jayhawk
Investments. The shares beneficially owned by Jayhawk Institutional include
527,400 shares of Common Stock, 112,500 shares of which were acquired upon the
exercise of previously reported Warrants on November 9, 2007. The shares
beneficially owned by Jawhawk Investments include 209,100 shares of Common
Stock. The relationship of the parties filing this Schedule 13D is described in
Item 2.
CUSIP No. 502160104
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1 NAME OF REPORTING PERSON:
Jayhawk Capital Management, L.L.C.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (Entities Only): 48-1172612
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
2 (a) [ ]
(b) [X]
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3 SEC USE ONLY
---------- ----------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS (See Instructions):
Not Applicable
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5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e): [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION:
Delaware, United States
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7 SOLE VOTING POWER:
----- -----------------------------------------------------------------------------------------------
NUMBER OF SHARES
BENEFICIALLY OWNED BY 8 SHARED VOTING POWER:
EACH REPORTING PERSON 736,500 (1)
WITH ----- -----------------------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER:
----- -----------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER:
736,500 (1)
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:
736,500
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12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions):
[X] (2)
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):
3.5%
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14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS):
OO
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(1) Of the shares listed, 527,400 are beneficially owned by Jayhawk
Institutional and 209,100 are beneficially owned directly by Jayhawk
Investments. The shares beneficially owned by Jayhawk Institutional include
527,400 shares of Common Stock, 112,500 shares of which were acquired upon the
exercise of previously reported Warrants on November 9, 2007. The shares
beneficially owned by Jawhawk Investments include 209,100 shares of Common
Stock. The relationship of the parties filing this Schedule 13D is described in
Item 2.
(2) Excludes 204,240 shares of Common Stock reported herein as held by Mr. Kent
C. McCarthy, beneficial ownership of which securities is disclaimed pursuant to
Rule 13d-4 under the Act.
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CUSIP No. 502160104
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1 NAME OF REPORTING PERSON:
Jayhawk Institutional Partners, L.P.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (Entities Only): 48-1172611
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
2 (a) [ ]
(b) [X]
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3 SEC USE ONLY
---------- ----------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS (See Instructions):
Not Applicable
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5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e): [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION:
Delaware, United States
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7 SOLE VOTING POWER:
NUMBER OF SHARES ----- -----------------------------------------------------------------------------------------------
BENEFICIALLY OWNED BY
EACH REPORTING PERSON 8 SHARED VOTING POWER:
WITH 527,400 (1)
----- -----------------------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER:
----- -----------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER:
527,400 (1)
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:
527,400
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12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions):
[X] (2)
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):
2.5%
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14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS):
PN
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(1) The shares listed consist of 527,400 shares of Common Stock including
112,500 shares from the exercise of 112,500 Warrants on November 9, 2007.
(2)Excludes (i) 204,240 shares of Common Stock reported herein as held by Mr.
Kent C. McCarthy, and (ii) 209,100 shares of Common Stock reported herein as
held by Jayhawk Investments. Beneficial ownership of the securities described in
the foregoing clauses (i) and (ii) is disclaimed pursuant to Rule 13d-4 under
the Act.
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CUSIP No. 502160104
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1 NAME OF REPORTING PERSON:
Jayhawk Investments, L.P.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (Entities Only): 48-1172620
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
2 (a) [ ]
(b) [X]
---------- ----------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
---------- ----------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS (See Instructions):
Not Applicable
---------- ----------------------------------------------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e): [ ]
---------- ----------------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION:
Delaware, United States
---------- ----------------------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER:
----- -----------------------------------------------------------------------------------------------
NUMBER OF SHARES
BENEFICIALLY OWNED BY 8 SHARED VOTING POWER:
EACH REPORTING PERSON 209,100
WITH ----- -----------------------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER:
----- -----------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER:
209,100
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:
209,100
---------- ----------------------------------------------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions):
[X] (2)
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):
1.0%
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14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS):
PN
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(1) The shares listed include 209,100 shares of Common Stock.
(2) Excludes (i) 204,240 shares of Common Stock reported herein as held by Mr.
Kent C. McCarthy, and (ii) 527,400 shares of Common Stock reported herein as
held by Jayhawk Institutional. Beneficial ownership of the securities described
in the foregoing clauses (i) and (ii) is disclaimed pursuant to Rule 13d-4 under
the Act.
SCHEDULE 13D
This Amendment No. 10 to Schedule 13D (the " Amendment ") is being filed
jointly by Kent C. McCarthy, Jayhawk Capital Management, L.L.C., a Delaware
limited liability company ("Jayhawk"), Jayhawk Institutional Partners, L.P., a
Delaware limited partnership ("Jayhawk Institutional"), and Jayhawk Investments,
L.P., a Delaware limited partnership ("Jayhawk Investments" and, together with
Mr. McCarthy, Jayhawk and Jayhawk Institutional, "Filing Parties") to amend the
cover page of each of the Filing Parties and Items 5 and 7 of the initial statement on
Schedule 13D relating to shares of Common Stock ("Common Stock") of LSB
Industries, Inc., a Delaware corporation (the "Issuer"), as filed with the
Securities and Exchange Commission (the "Commission") on January 18, 2001, as
amended by Amendment No. 1 filed with the Commission on March 22, 2002,
Amendment No. 2 filed with the Commission on March 28, 2003, Amendment No. 3
filed with the Commission on November 12, 2003, Amendment No. 4 filed with the
Commission on January 9, 2004, Amendment No. 5 filed with the Commission on
January 30, 2006, Amendment No. 6 filed with the Commission on December 22,
2006, Amendment No. 7 filed with the Commission on April 4, 2007, Amendment No.
8 filed with the Commission on August 21, 2007, and Amendment No. 9 filed with
the Commission on November 9, 2007 (the "Original Schedule 13D"). Items 1, 2, 3,
4 and 6 are not amended hereby.
Unless otherwise indicated, capitalized terms used but not defined herein
which are defined in the Original Schedule 13D shall have the meaning assigned
to such terms in the Original Schedule 13D.
The beneficial ownership reported in this Amendment No. 10 assumes that at
November 28, 2007, there were 20,827,088 shares of the Issuer's Common Stock
outstanding. This figure is based on the shares of Common Stock outstanding as
reported in Form 10-Q for the period ending September 30, 2007 filed with the
Commission on November 5, 2007.
Item 5. Interest in Securities of the Issuer.
(a) and (b)
Jayhawk Institutional beneficially owns 527,400 shares of Common Stock
(which includes 527,400 shares of Common Stock held of record by Jayhawk
Institutional, including 112,500 shares of Common Stock which were acquired upon
the exercise of previously reported Warrants on November 9, 2007 by Jayhawk
Institutional), which represents 2.5% of the Common Stock.
Jayhawk Investments beneficially owns 209,100 shares of Common Stock, which
represents 1.0% of the Common Stock.
As a result of the relationship of Jayhawk to Jayhawk Institutional and
Jayhawk Investments, Jayhawk may be deemed to have shared power to vote, or
direct the vote of, and to dispose, or direct the disposition of, the 736,500
shares of Common Stock beneficially owned by Jayhawk Institutional and Jayhawk
Investments, which, in the aggregate represents 3.5% of the Common Stock.
As a result of (i) Mr. McCarthy being the trustee and sole beneficiary of
the Trust, Mr. McCarthy is deemed to beneficially own the 204,240 shares of
Common Stock held of record by the Trust and (ii) the relationship of Mr.
McCarthy to Jayhawk and Jayhawk to each of Jayhawk Institutional and Jayhawk
Investments, Mr. McCarthy may be deemed to have shared power to vote, or direct
the vote of, and to dispose, or direct the disposition of, the Common Stock
beneficially owned by Jayhawk Institutional and Jayhawk Investments. The
aggregate shares represented by the foregoing clauses (i) and (ii) is 940,740,
which represents 4.5% of the Common Stock.
(c) The following transactions were effected on the open market through
brokers since November 8, 2007:
|
* Jawhawk Institutional acquired 112,500 shares of Common Stock upon the
exercise of previously reported Warrants that were exercised directly with the
Issuer.
(d) Not Applicable.
(e) Kent C. McCarthy's beneficial ownership in the Issuer dropped below 5%
on November 16, 2007 when shares of the Issuer were sold in an open market
transaction.
Item 7. Material to be Filed as Exhibits.
1. Joint Filing Agreement dated as of January 9, 2001 (previously filed as
Exhibit 99.1 to Original Schedule 13D filed with the Commission on January 18,
2001).
SIGNATURES
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.
Date: November 28, 2007
JAYHAWK INSTITUTIONAL PARTNERS, L.P.
By: Jayhawk Capital Management, L.L.C.,
Its general partner
By: /s/ Kent C. McCarthy
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Kent C. McCarthy, Manager
JAYHAWK INVESTMENTS, L.P.
By: Jayhawk Capital Management, L.L.C.,
Its general partner
By: /s/ Kent C. McCarthy
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Kent C. McCarthy, Manager
JAYHAWK CAPITAL MANAGEMENT, L.L.C.
By: /s/ Kent C. McCarthy
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Kent C. McCarthy, Manager
KENT C. MCCARTHY
/s/ Kent C. McCarthy
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Kent C. McCarthy