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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D/A
(AMENDMENT NO. 4)
(RULE 13D-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULE
13D-1(A) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13D-2(A)
UNDER THE SECURITIES EXCHANGE ACT OF 1934
SPORT SUPPLY GROUP, INC.
(Name of Issuer)
Shares of Common Stock, par value $0.01 per share
(Title of Class of Securities)
749283107
(CUSIP NUMBER)
Steven J. Pully
Carlson Capital, L.P.
2100 McKinney Avenue
Suite 1600
Dallas, TX 75201
(214) 932-9600
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
- with copies to -
David Rosewater
Schulte Roth & Zabel LLP
919 Third Avenue
New York, NY 10022
(212) 756-2208
March 15, 2010
(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-1(f) or 13d-1(g) check the following box
|_|
The information required in 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, as amended (the "Act"), or otherwise subject to the liabilities of that
section of the Act but shall be subject to all other provisions of the Act.
CUSIP No. 749283107 13D/A
- --------------------------------------------------------------------------------
NAME OF REPORTING PERSONS
Carlson Capital, L.P.
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
1 75-273-3266
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
AF
- --------------------------------------------------------------------------------
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
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 2,709,600
------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 0
------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 2,709,600
------------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,709,600
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
21.72%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
*SEE INSTRUCTIONS BEFORE FILLING OUT
CUSIP No. 749283107 13D/A
- --------------------------------------------------------------------------------
NAME OF REPORTING PERSONS
Asgard Investment Corp
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
1 75-249-4315
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
AF
- --------------------------------------------------------------------------------
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
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 2,709,600
------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 0
------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 2,709,600
------------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,709,600
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
21.72%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
CUSIP No. 749283107 13D/A
- --------------------------------------------------------------------------------
NAME OF REPORTING PERSONS
Clint D. Carlson
1 I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
AF
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEM 2(d) or 2(e)
[ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 2,709,600
------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 0
------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 2,709,600
-----------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,709,600
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
21.72%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
*SEE INSTRUCTIONS BEFORE FILLING OUT
CUSIP No. 749283107 13D/A
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
Double Black Diamond Offshore Ltd.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE
INSTRUCTIONS)
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS (SEE INSTRUCTIONS)
WC
- --------------------------------------------------------------------------------
5 CHECK 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 2,489,781
------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY -0-
------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 2,489,781
------------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
-0-
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,489,781
- --------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES (SEE INSTRUCTIONS)
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
19.96%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
CO
- --------------------------------------------------------------------------------
CUSIP No. 749283107 13D/A
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
Black Diamond Offshore Ltd.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE
INSTRUCTIONS)
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS (SEE INSTRUCTIONS)
WC
- --------------------------------------------------------------------------------
5 CHECK 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 219,819
------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY -0-
------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 219,819
------------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
-0-
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
219,819
- --------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES (SEE INSTRUCTIONS)
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.76%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
CO
SCHEDULE 13D/A
This Amendment No. 4 (this "Amendment") to Schedule 13D (the "Schedule
13D"), relating to shares of common stock, par value $0.01 per share, ("Common
Stock") of Sport Supply Group, Inc., a Delaware corporation (the "Issuer"), is
being filed with the Securities and Exchange Commission (the "Commission").
This Schedule 13D is filed on behalf of Double Black Diamond Offshore Ltd.,
a Cayman Islands exempted company, Black Diamond Offshore Ltd., a Cayman Islands
exempted company, Carlson Capital, L.P., a Delaware limited partnership, the
investment manager to Double Black Diamond Offshore Ltd. and Black Diamond
Offshore Ltd., Asgard Investment Corp., a Delaware corporation, the general
partner to Carlson Capital, L.P., and Mr. Clint D. Carlson, the president of
Asgard Investment Corp. (collectively, the "Reporting Persons").
This Amendment is being filed to amend Items 4, 6 and 7 as
follows:
ITEM 4
Item 4 of the Schedule 13D is hereby amended by adding the following:
Black Diamond Offshore Ltd. and Double Black Diamond Offshore Ltd. have
entered into a Voting Agreement, dated March 15, 2010 (the "Voting Agreement"),
with Sage Parent Company, Inc. ("Sage") and CBT Holdings LLC (together with
Black Diamond Offshore Ltd. and Double Black Diamond Offshore Ltd., the "Subject
Shareholders") in connection with the execution of a Merger Agreement, dated as
of March 15, 2010, by and among Sage, Sage Merger Company, Inc., a wholly-owned
subsidiary of Sage, and the Issuer (the "Merger Agreement"). Pursuant to the
Voting Agreement, the Subject Shareholders agreed to (i) appear at any meeting
of the shareholders of the Issuer called to seek shareholder approval of the
Merger Agreement or in any other related circumstance, or otherwise cause the
shares of the Issuer beneficially owned by the Subject Shareholders (the
"Subject Shares") to be voted as present for purposes of establishing a quorum,
(ii) vote the Subject Shares at any such meeting or in any written consent in
favor of the Merger Agreement and the transactions contemplated thereby, (iii)
vote the Subject Shares against any transaction, consolidation, combination,
sale of substantial assets, merger, reorganization, recapitalization,
dissolution, liquidation or winding up of or by the Issuer (other than the
Merger Agreement and the transactions contemplated thereby), (iv) vote the
Subject Shares against any takeover proposal (including any superior proposal),
and (v) vote the Subject Shares against any amendment of the Issuer's charter or
bylaws or any other corporate action that would impede, frustrate, prevent, or
nullify any provision of the Merger Agreement or any of the transactions
contemplated thereby or change in any manner the voting rights of any class of
capital stock of the Issuer. In addition, the Subject Shareholders granted an
irrevocable proxy over the Subject Shares to Sage and any other designee of Sage
to vote the Subject Shares in accordance with the foregoing. The Subject
Shareholders also agreed not to solicit, encourage, or participate in any
discussions regarding any other takeover proposal, or furnish to any other
person any non-public information relating to the Issuer or its subsidiaries, or
take any other action with the primary purpose of leading to, or that could
reasonably be expected to lead to, any other takeover proposal. Finally, the
Subject Shareholders agreed not to transfer any Subject Shares until the
expiration of the Voting Agreement. In certain circumstances, the Subject Shares
beneficially owned by Black Diamond Offshore Ltd. will not be subject to the
requirements of the Voting Agreement.
The obligations of the Subject Shareholders and the irrevocable proxy under
the Voting Agreement will terminate automatically upon the earlier of (i) the
closing date under the Merger Agreement and (ii) the termination of the Merger
Agreement in accordance with its terms, other
than with respect to the liability of any party thereto for willful and
malicious breach hereof prior to such termination.
This description of the Voting Agreement is summary only and is qualified by
reference to the full text of the Voting Agreement, a copy of which is attached
hereto as Exhibit 4 and is incorporated herein by reference.
ITEM 6 CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO
SECURITIES OF THE ISSUER.
Item 6 of the Schedule 13D is hereby amended by adding the following:
Black Diamond Offshore Ltd. and Double Black Diamond Offshore Ltd. have entered
into a voting agreement with respect to the securities of the Issuer, a summary
of which is found in Item 4 of this Amendment to the Schedule 13D.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
Item 7 of the Schedule 13D is hereby amended by adding the following:
Exhibit 4: Voting Agreement, dated March 15, 2010, by and among Sage Parent
Company, Inc. and the persons listed on Schedule A therein.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, the
undersigned certifies that the information set forth in this statement is true,
complete and correct.
DATED: MARCH 17, 2010 CARLSON CAPITAL, L.P.
By: Asgard Investment Corp., its general
partner
By: /s/ Clint D. Carlson
--------------------------------
Name: Clint D. Carlson
Title: President
ASGARD INVESTMENT CORP.
By: /s/ Clint D. Carlson
-------------------------------------
Name: Clint D. Carlson
Title: President
/s/ Clint D. Carlson
-------------------------------------------
Clint D. Carlson
BLACK DIAMOND OFFSHORE LTD.
By: Carlson Capital, L.P., its investment
manager
By: Asgard Investment Corp., its general
partner
By: /s/ Clint D. Carlson
---------------------------------
Name: Clint D. Carlson
Title: President
DOUBLE BLACK DIAMOND OFFSHORE LTD.
By: Carlson Capital, L.P., its investment
manager
By: Asgard Investment Corp., its general
partner
By: /s/ Clint D. Carlson
---------------------------------
Name: Clint D. Carlson
Title: President