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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)*
THE WET SEAL, Inc.
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(Name of Issuer)
Class A Common Stock
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(Title of Class of Securities)
961840105
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(CUSIP Number)
Stuart Panish, c/o Zweig-DiMenna Associates LLC, 900 Third Avenue,
New York, New York 10022 (212) 755-9860
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
February 25, 1997
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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
schedule because of Rule 13d-1(b)(3) or (4), check the following box [_].
Check the following box if a fee is being paid with this statement [_]. (A fee
is not required only if the filing person: (1) has a previous statement on file
reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7).
Note: Six copies of this statement, including all exhibits, should be filed with
the Commission. See Rule 13d-1(a) 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 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 ("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).
<PAGE>
SCHEDULE 13D
CUSIP NO. 961840105 Page 2 of __ Pages
1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Zweig-DiMenna Special Opportunities, L.P., Zweig-DiMenna International
Limited
Zweig-DiMenna International Managers, Inc., on behalf of a discretionary
account
Gotham Advisors, Inc., on behalf of a discretionary account
Zweig/Glaser Advisers, on behalf of discretionary accounts
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [_]
(b) [_]
3 SEC USE ONLY
4 SOURCE OF FUNDS* WC
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [_]
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Zweig-DiMenna Special Opportunities, L.P. - Delaware; Zweig-DiMenna
International Limited - British Virgin Islands
Zweig-DiMenna International Managers, Inc., on behalf of a
discretionary account - Delaware
Gotham Advisors, Inc., on behalf of a discretionary account - Delaware
Zweig/Glaser Advisers, on behalf of discretionary accounts - New York
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7 SOLE VOTING POWER
Zweig-DiMenna Special Opportunities, L.P. - 66,900; Zweig-DiMenna
International Limited - 258,500
Zweig-DiMenna International Managers, Inc., on behalf of a
discretionary account - 57,400
Gotham Advisors, Inc., on behalf of a discretionary account - 33,700
Zweig/Glaser Advisers, on behalf of discretionary accounts - 28,900
8 SHARED VOTING POWER
0
9 SOLE DISPOSITIVE POWER
Zweig-DiMenna Special Opportunities, L.P. - 66,900; Zweig-DiMenna
International Limited - 258,500
Zweig-DiMenna International Managers, Inc., on behalf of a
discretionary account - 57,400
Gotham Advisors, Inc., on behalf of a discretionary account - 33,700
Zweig/Glaser Advisers, on behalf of discretionary accounts - 28,900
10 SHARED DISPOSITIVE POWER
0
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
Zweig-DiMenna Special Opportunities, L.P. - 66,900; Zweig-DiMenna
International Limited - 258,500
Zweig-DiMenna International Managers, Inc., on behalf of a
discretionary account - 57,400
Gotham Advisors, Inc., on behalf of a discretionary account - 33,700
Zweig/Glaser Advisers, on behalf of discretionary accounts - 28,900
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 INCLUDES CERTAIN SHARES*
[_]
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
Total - 4.2%
Zweig-DiMenna Special Opportunities, L.P. - 0.6%; Zweig-DiMenna
International Limited - 2.4%
Zweig-DiMenna International Managers, Inc., on behalf of a
discretionary account - 0.6%
Gotham Advisors, Inc., on behalf of a discretionary account - 0.3%
Zweig/Glaser Advisers, on behalf of discretionary accounts - 0.3%
14 TYPE OF REPORTING PERSON*
Zweig-DiMenna Special Opportunities, L.P. - PN
Zweig-DiMenna International Limited - CO
Zweig-DiMenna International Managers, Inc. - CO
Gotham Advisors, Inc. - CO
Zweig/Glaser Advisers - PN
<PAGE>
SCHEDULE 13D - AMENDMENT NO. 2
Zweig-DiMenna International Limited, Zweig-DiMenna Special Opportunities,
L.P., Zweig-DiMenna International Managers, Inc., Gotham Advisors, Inc. and
Zweig/Glaser Advisers hereby amend the Schedule 13D, filed with respect to
shares of class A common stock, par value $.10 per share ("Shares") of The Wet
Seal, Inc. (the "Company").
ITEM 3 SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATIONS
The first sentence of Item 3 is amended to read as follows:
"The securities of The Wet Seal, Inc. were purchased at an aggregate cost
of $8,010,332 with the investment capital of Zweig-DiMenna International
Limited, Zweig-DiMenna Special Opportunities, L.P., the discretionary
account managed by Zweig-DiMenna International Managers, Inc. (the "ZDIM
Account"), the discretionary account managed by Gotham Advisors, Inc. (the
"Gotham Account") and the discretionary accounts managed by Zweig/Glaser
Advisers (the "Zweig/Glaser Advisers Accounts")."
ITEM 5 INTEREST IN SECURITIES OF THE ISSUER
The answer to Item 5 is amended to read as follows:
a. Aggregate number of shares beneficially owned:
Zweig-DiMenna International Limited - 258,500
Zweig-DiMenna Special Opportunities, L.P. - 66,900
ZDIM Account - 57,400
Gotham Account - 33,700
Zweig/Glaser Advisers Accounts - 28,900
Percent of class beneficially owned:
Zweig-DiMenna International Limited - 2.4%
Zweig-DiMenna Special Opportunities, L.P. - 0.6%
ZDIM Account - 0.6%
<PAGE>
Gotham Account - 0.3%
Zweig/Glaser Advisers Accounts - 0.3%
b. Number of shares as to which there is sole power to vote:
Zweig-DiMenna International Limited - 258,500
Zweig-DiMenna Special Opportunities, L.P. - 66,900
ZDIM Account - 57,400
Gotham Account - 33,700
Zweig/Glaser Advisers Accounts - 28,900
Number of shares as to which there is shared power to vote or to
direct the vote:
Zweig-DiMenna International Limited - 0
Zweig-DiMenna Special Opportunities, L.P. - 0
ZDIM Account - 0
Gotham Account - 0
Zweig/Glaser Advisers Accounts - 0
Number of shares as to which there is sole power to dispose or to
direct the disposition:
Zweig-DiMenna International Limited - 258,500
Zweig-DiMenna Special Opportunities, L.P. - 66,900
ZDIM Account - 57,400
Gotham Account - 33,700
Zweig/Glaser Advisers Accounts - 28,900
<PAGE>
Number of shares as to which there is shared power to dispose or
to direct the disposition:
Zweig-DiMenna International Limited - 0
Zweig-DiMenna Special Opportunities, L.P. - 0
ZDIM Account - 0
Gotham Account - 0
Zweig/Glaser Advisers Accounts - 0
c. Since February 4, 1997, Zweig-DiMenna International Limited, Zweig-
DiMenna Special Opportunities, L.P., the ZDIM account, the Gotham
Account, and the Zweig/ Glaser Advisers Accounts (Collectively the
"Investors") sold the Shares on the open market on the following dates
and at the following prices and in the following amounts:
ZWEIG-DIMENNA INTERNATIONAL LIMITED
DATE DESCRIPTION OF SALE
2/5/97 Sold 31,100 shares at $20.4625 a share
2/10/97 Sold 12,400 shares at $22.4375 a share
2/11/97 Sold 12,400 shares at $21.75 a share
2/25/97 Sold 46,500 shares at $22.7583 a share
ZWEIG-DIMENNA SPECIAL OPPORTUNITIES, L.P.
DATE DESCRIPTION OF SALE
2/5/97 Sold 8,100 shares at $20.4625 a share
2/10/97 Sold 3,200 shares at $22.4375 a share
2/11/97 Sold 3,200 shares at $21.75 a share
2/25/97 Sold 12,100 shares at $22.7583 a share
<PAGE>
ZDIM ACCOUNT
DATE DESCRIPTION OF SALE
2/5/97 Sold 6,900 shares at $20.4625 a share
2/10/97 Sold 2,800 shares at $22.4375 a share
2/11/97 Sold 2,800 shares at $21.75 a share
2/25/97 Sold 10,300 shares at $22.7583 a share
GOTHAM ACCOUNT
DATE DESCRIPTION OF SALE
2/5/97 Sold 4,000 shares at $20.4625 a share
2/10/97 Sold 1,600 shares at $22.4375 a share
2/11/97 Sold 1,600 shares at $21.75 a share
2/25/97 Sold 6,100 shares at $22.7583 a share
ZWEIG/GLASER ADVISERS ACCOUNTS
DATE DESCRIPTION OF SALE
There were no sales during the applicable time period.
d. Not Applicable
e. The Investors ceased to be the beneficial owner of more than 5% of the
shares of the Company on February 11, 1997.
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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.
Date: February 25, 1997
ZWEIG-DiMENNA INTERNATIONAL LIMITED
By: Zweig-DiMenna International Managers, Inc.,
Investment Manager
By:/s/ Joseph A. DiMenna
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Name: Joseph A. DiMenna
Title: Executive Vice President
ZWEIG-DiMENNA SPECIAL OPPORTUNITIES, L.P.
By: Zweig-DiMenna Associates LLC,
Managing General Partner
By:/s/ Joseph A. DiMenna
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Name: Joseph A. DiMenna
Title: A Managing Director of Managing General Partner
ZWEIG-DiMENNA INTERNATIONAL MANAGERS, INC.
By:/s/ Joseph A. DiMenna
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Name: Joseph A. DiMenna
Title: Executive Vice President
GOTHAM ADVISORS, INC.
By:/s/ Joseph A. DiMenna
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Name: Joseph A. DiMenna
Title: Vice President
ZWEIG/GLASER ADVISERS
By:/s/ Marc Baltuch
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Name: Marc Baltuch
Title: First Vice President
