SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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SCHEDULE TO
Tender Offer Statement Pursuant to Section 14(d)(1) or 13(e)(1)
of the Securities Exchange Act of 1934
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AMERICAN SPECTRUM REALTY, INC.
(Name of Subject Company)
MPF Badger Acquisition Co., LLC, MPF-NY 2007, LLC, MP Value Fund 5, LLC,
MPF DeWaay Premier Fund 3, LLC, MP Value Fund 5, LLC, MPF Flagship Fund 13, LLC,
MPF DeWaay Premier Fund, LLC, Sutter Opportunity Fund 4, LLC, MPF ePlanning
Opportunity Fund, LP, MPF DeWaay Fund 6, LLC, MPF DeWaay Premier Fund 4, LLC,
MPF Income Fund 24, LLC, MPF Special Fund 8, LLC, MacKenzie Patterson Fuller, LP
(Bidders)
SHARES OF COMMON STOCK
(Title of Class of Securities)
None or unknown
(CUSIP Number of Class of Securities)
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Copy to:
Christine Simpson Chip Patterson, Esq.
MacKenzie Patterson Fuller, LP MacKenzie Patterson Fuller, LP
1640 School Street 1640 School Street
Moraga, California 94556 Moraga, California 94556
(925) 631-9100 ext.224 (925) 631-9100 ext. 206
(Name, Address, and Telephone Number of
Person Authorized to Receive Notices and
Communications on Behalf of Bidder)
Calculation of Filing Fee
Transaction Amount of
Valuation* Filing Fee
$2,383,605 $73.18
* For purposes of calculating the filing fee only. Assumes the purchase
of 138,180 Shares at a purchase price equal to $17.25 per Share in cash.
[ ] Check box if any part of the fee is offset as provided by Rule
0-11(a)(2) and identify the filing with which the offsetting fee was
previously paid. Identify the previous filing by registration statement
number, or the Form or Schedule and the date of its filing.
Amount Previously Paid:
Form or Registration Number:
Filing Party:
Date Filed:
[ ] Check the box if the filing relates solely to preliminary
communications made before the commencement of a tender offer.
Check the appropriate boxes below to designate any transactions to which the
statement relates:
[X] third party tender offer subject to Rule 14d-1.
[ ] issuer tender offer subject to Rule 13e-4.
[ ] going private transaction subject to Rule 13e-3
[ ] amendment to Schedule 13D under Rule 13d-2
Check the following box if the filing is a final amendment reporting the results
of the tender offer: [ ]
TENDER OFFER
This Tender Offer Statement on Schedule TO relates to the offer (the "Offer") by
MPF Badger Acquisition Co., LLC, MPF-NY 2007, LLC, MP Value Fund 5, LLC, MPF
DeWaay Premier Fund 3, LLC, MP Value Fund 5, LLC, MPF Flagship Fund 13, LLC, MPF
DeWaay Premier Fund, LLC, Sutter Opportunity Fund 4, LLC, MPF ePlanning
Opportunity Fund, LP, MPF DeWaay Fund 6, LLC, MPF DeWaay Premier Fund 4, LLC,
MPF Income Fund 24, LLC, MPF Special Fund 8, LLC (collectively the "Purchasers")
to purchase up to 138,180 shares of common stock (the "Shares") in American
Spectrum Realty, Inc. (the "Corporation"), the subject company, at a purchase
price equal to $17.25 per Share, less the amount of any dividends declared or
made with respect to the Shares between November 16, 2007 (the "Offer Date") and
December 21, 2007 or such other date to which this Offer may be extended (the
"Expiration Date"), upon the terms and subject to the conditions set forth in
the Offer to Purchase dated November 16, 2007 (the "Offer to Purchase") and the
related Letter of Transmittal, copies of which are attached hereto as Exhibits
(a)(1) and (a)(2), respectively. As noted above, the Offer price would be
subject to reduction for dividends made or declared prior to the Expiration
Date. Any dividends made or declared after the Expiration Date, by the terms of
the Offer and as set forth in the Letter of Transmittal, would be assigned by
tendering Shareholders to the Purchasers. MacKenzie Patterson Fuller, LP is
named as a bidder herein because it is deemed to control the Purchasers, but is
otherwise not participating in the offer described in this schedule.
In the event of a price reduction resulting from a Corporation dividend
declared or made after the Offer Date and before the Expiration Date, as
described above, the Purchasers will file an amendment to this Schedule TO
reflecting such reduction and will, to the extent necessary, extend the
Expiration Date to assure there is a minimum ten business day period following
the amendment before the Offer expires.
Tender of Shares will include the tender of any and all securities into
which the Shares may be converted and any securities distributed with respect to
the Shares from and after the Offer Date.
The Corporation had 4,500 holders of record owning an aggregate of
1,591,954 Shares and operating partnership Units as of February 28, 2007 and
October 31, 2007, according to its Annual Report on Form 10-K for the period
ending December 31, 2006 and its Quarterly Report on Form 10-Q for the period
ending September 30, 2007 respectively. The Purchasers and their affiliates
currently beneficially own 44,706 Shares, or 2.81% of the outstanding Shares.
The 138,180 Shares subject to the Offer constitute 8.68% of the outstanding
Shares. Consummation of the Offer, if all Shares sought are tendered, would
require payment by the Purchasers of up to $2,383,605 in aggregate purchase
price, which the Purchasers intend to fund out of their current working capital.
The address of the Corporation's principal executive offices is 5850
San Felipe, Suite 450, Houston, TX 77057, and its phone number is (713)
706-6200.
The information in the Offer to Purchase, including all schedules and
annexes thereto, is hereby expressly incorporated herein by reference in
response to all the items of this Statement.
Item 12. Exhibits.
(a)(1) Offer to Purchase dated November 16, 2007
(a)(2) Letter of Transmittal
(a)(3) Form of Letter to Shareholders dated November 16, 2007
(a)(4) Form of advertisement in Investor's Business Daily
(a)(5) Form of Press Release
(b)- (h) Not applicable.
Item 13. Information Required by Schedule 13E-3.
Not applicable.
SIGNATURES
After due 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 16, 2007
MPF Badger Acquisition Co., LLC, MPF-NY 2007, LLC, MP Value Fund 5, LLC, MPF
DeWaay Premier Fund 3, LLC, MP Value Fund 5, LLC, MPF Flagship Fund 13, LLC, MPF
DeWaay Premier Fund, LLC, Sutter Opportunity Fund 4, LLC, MPF ePlanning
Opportunity Fund, LP, MPF DeWaay Fund 6, LLC, MPF DeWaay Premier Fund 4, LLC,
MPF Income Fund 24, LLC, MPF Special Fund 8, LLC
By: /s/ Chip Patterson
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Chip Patterson, Senior Vice President of Manager or
General Partner of each filing person
MACKENZIE PATTERSON FULLER, LP
By: /s/ Chip Patterson
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Chip Patterson, Senior Vice President
EXHIBIT INDEX
Exhibit Description
(a)(1) Offer to Purchase dated November 16, 2007
(a)(2) Letter of Transmittal
(a)(3) Form of Letter to Shareholders dated November 16, 2007
(a)(4) Form of advertisement in Investor's Business Daily
(a)(5) Form of Press Release