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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 4)*
American Pacific Corporation
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
028740108
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(CUSIP Number)
Mr. J. Ezra Merkin With a copy to:
Gabriel Capital, L.P. Lawrence G. Goodman, Esq.
450 Park Avenue, Ste. 3201 Swidler Berlin Shereff Friedman, LLP
New York, New York 10022 405 Lexington Avenue
(212) 838-7200 New York, New York 10174
(212) 973-0111
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(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
March 6, 2000
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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 which is the subject of this Schedule 13D, and is filing this
statement because of Rule 13d-1(e), (f) or (g), check the following: [ ].
Note: One copy and an EDGAR version of this statement, including all exhibits,
should be filed with the Commission. See Rule 13d-7(b) 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).
(Continued on following pages)
(Page 1 of 6 Pages)
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CUSIP No. 028740108 13D Page 2 of 6 Pages
________________________________________________________________________________
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Gabriel Capital Corporation
________________________________________________________________________________
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [x]
(b) [_]
________________________________________________________________________________
3 SEC USE ONLY
________________________________________________________________________________
4 SOURCE OF FUNDS*
OO
________________________________________________________________________________
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) [_]
________________________________________________________________________________
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
________________________________________________________________________________
7 SOLE VOTING POWER
NUMBER OF
SHARES _________________________________________________________________
8 SHARED VOTING POWER
BENEFICIALLY 91,185
OWNED BY
_________________________________________________________________
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON _________________________________________________________________
10 SHARED DISPOSITIVE POWER
WITH 91,185
________________________________________________________________________________
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
91,185
________________________________________________________________________________
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[_]
________________________________________________________________________________
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.3%
________________________________________________________________________________
14 TYPE OF REPORTING PERSON*
CO
________________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7 (INCLUDING
EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
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CUSIP No. 028740108 13D Page 3 of 6 Pages
________________________________________________________________________________
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
J. Ezra Merkin
________________________________________________________________________________
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [x]
(b) [_]
________________________________________________________________________________
3 SEC USE ONLY
________________________________________________________________________________
4 SOURCE OF FUNDS*
OO
________________________________________________________________________________
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) [_]
________________________________________________________________________________
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
________________________________________________________________________________
7 SOLE VOTING POWER
134,412
NUMBER OF
SHARES _________________________________________________________________
8 SHARED VOTING POWER
BENEFICIALLY 91,185
OWNED BY
_________________________________________________________________
EACH 9 SOLE DISPOSITIVE POWER
134,412
REPORTING
PERSON _________________________________________________________________
10 SHARED DISPOSITIVE POWER
WITH 91,185
________________________________________________________________________________
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
225,597
________________________________________________________________________________
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[_]
________________________________________________________________________________
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.2%
________________________________________________________________________________
14 TYPE OF REPORTING PERSON*
IN
________________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7 (INCLUDING
EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
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CUSIP No. 028740108 13D Page 4 of 6 Pages
SCHEDULE 13D
This Amendment No. 4 to the Statement on Schedule 13D (as
defined below) amends and supplements the Statement on Schedule 13D relating to
the event date of January 25, 2000 (the "Schedule 13D"), Amendment No. 1 to the
Schedule 13D relating to the event date of June 10, 1999, relating to the common
stock (the "Common Stock") of American Pacific Corporation (the "Issuer"),
Amendment No. 2 to the Schedule 13D relating to the event date of January 4,
2000 and Amendment No. 3 to the Schedule 13D relating to the event date of
January 25, 2000, each filed by Gabriel Capital Corporation and J. Ezra Merkin.
Capitalized terms used and not defined herein shall have the meanings assigned
thereto in the Schedule 13D. The address of the Issuer is 3770 Howard Hughes
Parkway, Suite 300, Las Vegas, Nevada 89109.
Item 5. Interest in Securities of the Issuer
Item 5 is hereby amended and restated in its entirety as
follows:
(a) and (b)
Gabriel Capital, as Investment Advisor to Ariel Fund, has the
power to vote and to direct the voting of and the power to dispose and direct
the disposition of the 91,185 shares of Common Stock held by Ariel Fund.
Accordingly, Gabriel Capital may be deemed to be the beneficial owner of 91,185
shares of Common Stock, or 1.3% of the outstanding shares of Common Stock.
As the General Partner of Gabriel, Merkin has the power to
vote and to direct the voting of and the power to dispose and direct the
disposition of the 134,412 shares of Common Stock held by Gabriel. In addition,
as the sole shareholder and president of Gabriel Capital, Merkin may be deemed
to have the power to vote and to direct the voting of and the power to dispose
and direct the disposition of the 91,185 shares of Common Stock held by Ariel
Fund. Accordingly, Merkin may be deemed to be the beneficial owner of 225,597
shares of Common Stock, or 3.2% of the outstanding shares of Common Stock.
The number of shares beneficially owned by each of the
Reporting Persons and the percentage of outstanding shares represented thereby,
have been computed in accordance with Rule 13d-3 under the Securities Exchange
Act of 1934, as amended. The ownership of the Reporting Persons is based on
7,078,637 outstanding shares of Common Stock of the Issuer as of January 31,
2000, as reported in the Issuer's Quarterly Report on Form 10-Q for the period
ended December 31, 1999.
In addition, an employee of the Reporting Persons is the
beneficial owner of less than 0.1% of the Common Stock.
(c) The transactions in the Common Stock by the Reporting
Persons since the filing of Amendment No.3 to the Schedule 13D are set forth on
Annex A hereto.
(d) Not Applicable.
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CUSIP No. 028740108 13D Page 5 of 6 Pages
(e) The Reporting Persons ceased being the beneficial owner of
more than five percent of the Common Stock on March 6, 2000.
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CUSIP No. 028740108 13D Page 6 of 6 Pages
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.
GABRIEL CAPITAL CORPORATION
By: /s/ J. Ezra Merkin
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Name: J. Ezra Merkin
Title: President
By: /s/ J. Ezra Merkin
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J. EZRA MERKIN
Dated: March 27, 2000
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Annex A
Purchases and Sales of Shares of Common Stock
Since the Most Recent Filing on Schedule 13D
Number of Shares
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Price Aggregate
Per Share
Date Share Amount Ariel Fund Gabriel
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2/01/00(2) 7.7813 2,000 1,192 808
2/03/00(2) 7.8125 1,000 596 404
2/04/00(1) 8.00 40,000 23,840 16,160
2/07/00(1) 8.00 50,000 29,800 20,200
3/02/00(1) 9.3125 300 179 121
3/06/00(1) 9.25 5,400 3,218 2,182
3/06/00(1) 9.7471 17,100 10,192 6,908
3/06/00(1) 10.02 56,300 33,555 22,745
3/23/00(1) 7.875 80,000 47,680 32,320
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(1) Open market sale
(2) Open market purchase
