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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. 2)*
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 919 Third Avenue
(212) 838-7200 New York, New York 10022
(212) 758-9500
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(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
January 4, 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: [x].
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).
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<TABLE>
<CAPTION>
SCHEDULE 13D
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<S> <C>
CUSIP No. 028740108 Page 2 of Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Gabriel Capital Corporation
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X|
(b) |_|
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
OO
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5 CHECK BOX 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
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NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 363,932
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 10 SHARED DISPOSITIVE POWER
WITH 363,932
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
363,932
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* |_|
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.7%
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14 TYPE OF REPORTING PERSON*
CO
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</TABLE>
*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.
<PAGE>
<TABLE>
<CAPTION>
SCHEDULE 13D
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<S> <C>
CUSIP No. 028740108 Page 3 of Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
J. Ezra Merkin
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |X|
(b) |_|
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
OO
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5 CHECK BOX 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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NUMBER OF 7 SOLE VOTING POWER
SHARES 246,765
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 363,932
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 246,765
PERSON 10 SHARED DISPOSITIVE POWER
WITH 363,932
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
610,697
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* |_|
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.8%
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14 TYPE OF REPORTING PERSON*
IN
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</TABLE>
*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.
<PAGE>
SCHEDULE 13D
This Amendment No. 2 to the Statement on Schedule 13D (as
defined below) amends and supplements the Statement on Schedule 13D relating to
the event date of May 19, 1999 (the "Schedule 13D") and Amendment No. 1 to the
Schedule 13D relating to the event date of June 10, 1999, filed by Gabriel
Capital Corporation and J. Ezra Merkin, relating to the common stock (the
"Common Stock") of American Pacific Corporation (the "Issuer"). 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
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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 363,932 shares of Common Stock held by Ariel Fund.
Accordingly, Ariel may be deemed to be the beneficial owner of 363,932 shares of
Common Stock, or 4.7% 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 246,765 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 363,932 shares of Common Stock held by Ariel
Fund. Accordingly, Merkin may be deemed to be the beneficial owner of 610,697
shares of Common Stock, or 7.8% 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
7,808,137 outstanding shares of Common Stock of the Issuer as of December 1,
1999, as reported in the Issuer's Annual Report on Form 10-K for the period
ended September 30, 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 in the past sixty days are set forth on Annex A hereto.
(d) Not Applicable.
(e) Not Applicable.
Page 4
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Signature
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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
/s/ J. Ezra Merkin
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J. EZRA MERKIN
Dated: January 10, 1999
Page 5
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Annex A
Purchases and Sales of Shares of Common Stock in the last 60 days
<TABLE>
<CAPTION>
Number of Shares
Price Aggregate ----------------
Per Share
Date Share Amount Ariel Fund Gabriel
- ---- ----- ------ ---------- -------
<S> <C> <C> <C> <C>
1/4/00(1) $8.25 500,000 298,000 202,000
1/5/00(2) 8.2167 3,000 1,788 1,212
1/5/00(1) 8.25 321,000 191,316 129,684
</TABLE>
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1 Open market sale
2 Open market purchase
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[Letterhead of Swidler Berlin Shereff Friedman, LLP]
(212) 891-9224
January 12, 1999
VIA EDGAR
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Securities and Exchange Commission
450 Fifth Street, N.W.
Judiciary Plaza
Washington, D.C. 20549
Re: American Pacific Corporation (the "Company")
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Ladies and Gentlemen:
On behalf of our clients, Gabriel Capital Corporation and J.
Ezra Merkin, we transmit for filing, in accordance with Section 13(d) of the
Securities Exchange Act of 1934, as amended, and the rules promulgated
thereunder, Amendment No. 2 to a statement on Schedule 13D relating to the
Company (the "Statement").
A copy of the Statement has been sent by certified mail to
the Company at its principal executive office.
If you have any questions concerning the Statement, kindly
telephone the undersigned at (212) 891-9224.
Very truly yours,
/s/ James Rieger
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James Rieger
LGG:bb
Enclosures
cc: American Pacific Corporation
J. Ezra Merkin
Lawrence G. Goodman, Esq.
