UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
AMENDMENT NO. 1
SBARRO, INC.
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(Name of issuer)
Common Stock, $.01 Par Value
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805844-10-7
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(Cusip Number)
Bruce Berkowitz
100 Jericho Quadrangle, Suite 212
Jericho, New York 11753
212-319-4100
with copies to:
Joseph F. Mazzella
Lane Altman & Owens LLP
101 Federal Street
Boston, Massachusetts 02110
617-345-9800
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(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
April 6, 1999
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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(e), 13d-1(f) or 13d-1(g), check the following box
[ ].
Note: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. 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).
<PAGE>
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CUSIP NO. 805844-10-7 SCHEDULE 13D Page 2 of 10 Pages
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1. NAME OF REPORTING PERSON/S.S. OR I.R.S. IDENTIFICATION
NO. OF ABOVE PERSON
GOTHAM CAPITAL V, LLC
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [ ]
(B) [X]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS
WC
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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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7. SOLE VOTING POWER
0
NUMBER OF --------------------------------------------------
SHARES 8. SHARED VOTING POWER
BENEFICIALLY
OWNED BY 4,567
EACH --------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON
WITH: 0
--------------------------------------------------
10. SHARED DISPOSITIVE POWER
4,567
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
879,567*
* See Items 5 and 6
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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)
4.285%
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14. TYPE OF REPORTING PERSON
00 - LIMITED LIABILITY COMPANY
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
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CUSIP NO. 805844-10-7 SCHEDULE 13D Page 3 of 10 Pages
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1. NAME OF REPORTING PERSON/S.S. OR I.R.S. IDENTIFICATION
NO. OF ABOVE PERSON
GOTHAM CAPITAL VI, LLC
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [ ]
(B) [X]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS
WC
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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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7. SOLE VOTING POWER
0
NUMBER OF --------------------------------------------------
SHARES 8. SHARED VOTING POWER
BENEFICIALLY
OWNED BY 315,495
EACH --------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON
WITH: 0
--------------------------------------------------
10. SHARED DISPOSITIVE POWER
315,495
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
465,495*
* See Items 5 and 6
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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)
2.267%
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14. TYPE OF REPORTING PERSON
00 - LIMITED LIABILITY COMPANY
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
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CUSIP NO. 805844-10-7 SCHEDULE 13D Page 4 of 10 Pages
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1. NAME OF REPORTING PERSON/S.S. OR I.R.S. IDENTIFICATION
NO. OF ABOVE PERSON
GOTHAM CAPITAL VII, LLC
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [ ]
(B) [X]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS
WC
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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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7. SOLE VOTING POWER
0
NUMBER OF --------------------------------------------------
SHARES 8. SHARED VOTING POWER
BENEFICIALLY
OWNED BY 412,502
EACH --------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON
WITH: 0
--------------------------------------------------
10. SHARED DISPOSITIVE POWER
412,502
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
412,502
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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)
2.01%
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14. TYPE OF REPORTING PERSON
00 - LIMITED LIABILITY COMPANY
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
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CUSIP NO. 805844-10-7 SCHEDULE 13D Page 5 of 10 Pages
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1. NAME OF REPORTING PERSON/S.S. OR I.R.S. IDENTIFICATION
NO. OF ABOVE PERSON
JOEL M. GREENBLATT
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [ ]
(B) [X]
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3. SEC USE ONLY
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4. SOURCE OF FUNDS
PF
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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
USA
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7. SOLE VOTING POWER
122,083
NUMBER OF --------------------------------------------------
SHARES 8. SHARED VOTING POWER
BENEFICIALLY
OWNED BY 732,564
EACH --------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON
WITH: 122,083
--------------------------------------------------
10. SHARED DISPOSITIVE POWER
732,564
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,879,647*
* See Items 5 and 6
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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)
9.156%
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14. TYPE OF REPORTING PERSON
IN Individual
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. 805844-10-7 SCHEDULE 13D Page 6 of 10 Pages
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This Amendment No. 1 amends and supplements the Schedule 13D filed on March 4,
1999.
Item 1 through Item 4. No Changes
[Continued on Next Page]
<PAGE>
CUSIP No. 805844-10-7 SCHEDULE 13D Page 7 of 10 Pages
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ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
(a)and (b) The beneficial ownership of each of the Reporting Persons of
Common Stock of the Issuer as of the date hereof is as follows:
JOEL M. GREENBLATT*
(a) Amount Beneficially Owned: 1,879,647*
--------------------------------------------
(b) Percent of Class: 9.156%
---------------------------------------------------
(c) Number of shares as to which such person has:
(i)sole power to vote or to direct the vote: 122,083
-----------------------
(ii)shared power to vote or to direct the vote: 732,564
----------------------
(iii)sole power to dispose or to direct the disposition of: 122,083
----------
(iv) shared power to dispose or to direct the disposition of: 732,564
----------
GOTHAM CAPITAL V, LLC
(a) Amount Beneficially Owned: 879,567@
-------------------------------------------
(b) Percent of Class: 4.285%
----------------------------------------------------
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote: 0
-----------------------
(ii) shared power to vote or to direct the vote: 4,567
---------------------
(iii)sole power to dispose or to direct the disposition of: 0
----------
(iv) shared power to dispose or to direct the disposition of: 4,567
---------
Gotham Capital VI, LLC
(a) Amount Beneficially Owned: 465,495**
-------------------------------------------
(b) Percent of Class: 2.267%
----------------------------------------------------
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote: 0
-----------------------
(ii) shared power to vote or to direct the vote: 315,495
---------------------
(iii)sole power to dispose or to direct the disposition of: 0
----------
(iv) shared power to dispose or to direct the disposition of: 315,495
--------
Gotham Capital VII, LLC
(a) Amount Beneficially Owned: 412,502
-------------------------------------------
(b) Percent of Class: 2.01%
----------------------------------------------------
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote: 0
-----------------------
(ii) shared power to vote or to direct the vote: 412,502
---------------------
(iii)sole power to dispose or to direct the disposition of: 0
----------
(iv) shared power to dispose or to direct the disposition of: 412,502
--------
- -------
*Shares reported for Joel M. Greenblatt include shares beneficially owned by
each of the Gotham Entities, which may be deemed to be controlled by Mr.
Greenblatt who is the Manager thereof.
#1,025,000 of the total 1,879,647 shares reported in this Item 5 and on Line 11
on page 5 above are subject to certain equity swap transactions more
particularly described in Item 6 below. Mr. Greenblatt disclaims beneficial
ownership of such shares.
@875,000 of the total 879,567 shares reported in this Item 5 and on Line 11 on
page 2 above are subject to certain equity swap transactions more particularly
described in Item 6 below. Mr. Greenblatt disclaims beneficial ownership of such
shares.
**150,000 of the total 465,495 shares reorted in this Item 5 and on Line 11 on
page 3 above are subject to certain equity swap transactions more particularly
described in Item 6 below. Gotham VI disclaims beneficial ownership of such
shares.
<PAGE>
CUSIP No. 805844-10-7 Page 8 of 10 Pages
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The number of shares beneficially owned and the percentage of outstanding shares
represented thereby, for each of the Reporting Persons, have been computed in
accordance with Rule 13d-3 under the Securities Exchange Act of 1934, as
amended. The percentages of ownership described above are based on the
20,528,309 outstanding shares of Common Stock of the Issuer reported in the
Issuer's Quarterly Report on Form 10-Q for the quarter ended October 4, 1998.
(c) The following are acquisitions (dispositions) of Common Stock of
the Issuer reported on herein which have been effected in the past sixty days by
the Reporting Persons (all such transactions were effected on the open market
except as otherwise indicated).
<TABLE>
<CAPTION>
Reporting Person/
Controlled Entity Date No. of Shares Price Per Share ($) Total ($)
----------------- ---- ------------- ------------------- ---------
<S> <C> <C> <C> <C>
Joel M. Greenblatt 02/17/99 41,500 23.5000 975,250.00
03/15/99 82,783(b) N/A N/A
03/19/99 (2,200) 25.7500 56,650.00
Gotham Capital V 02/17/99 100,000 23.5000 2,350,000.00
02/26/99 3,200 25.0000 80,000.00
02/26/99 17,000 24.9988 424,979.60
02/26/99 23,800 24.9271 593,264.98
03/01/99 6,600 25.0000 165,000.00
03/03/99 (92,471)(a) N/A N/A
03/15/99 (94,760)(a) N/A N/A
03/31/99 (500,000)(c) 26.6350 13,317,500.00
04/01/99 (375,000)(c) 26.4475 9,917,812.50
Gotham Capital VI 02/17/99 50,000 23.5000 1,175,000.00
03/15/99 (23,505)(a) N/A N/A
03/31/99 (150,000)(c) 26.6350 3,995,250.00
Gotham Capital VII 02/17/99 47,000 23.5000 1,104,500.00
02/26/99 1,500 25.0000 37,500.00
02/26/99 8,000 24.9988 199,990.40
02/26/99 11,200 24.9271 279,183.52
03/01/99 3,100 25.0000 77,500.00
</TABLE>
(a) Distribution(s) to withdrawing member(s)
(b) Receipt of distribution in-kind from Gotham Entities
(c) Transfer in connection with entry into equity swap transactions
described in Item 6. The Reporting Person disclaims all beneficial
ownership of such shares.
<PAGE>
CUSIP No. 805844-10-7 Page 9 of 10 Pages
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ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS AND RELATIONSHIPS WITH RESPECT
TO SECURITIES OF THE ISSUER
GothamV and Gotham VI entered into a swap transaction with NationsBank, N.A. or
an affiliate thereof effective April 6, 1999 pursuant to a Standard ISDA Master
Agreement. The aggregate 650,000 shares of the Issuer reported in Item 5(c)above
as being transferred on March 31, 1999, were transferred to NationsBank in
connection with the equity swap on such number of shares.
Gotham V also entered into swap transactions with each of NationsBank, N.A. and
Deutsche Bank Scurities effective April 7, 1999. The aggregate 375,000 shares of
the Issuer reported in Item 5(c) above as being transferred on April 1,1999,
were transferred to NationsBank (125,000 shares) and Deutsche Bank Securities
(250,000 shares) in connection with the equity swaps on such number of shares.
Item 7. No changes
<PAGE>
CUSIP No. 805844-10-7 Page 10 of 10 Pages
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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.
This statement may be executed in any number of counterparts, each of which
shall be deemed an original and all of which shall constitute one (1)
instrument.
GOTHAM CAPITAL V, LLC
By: /s/ Joel M. Greenblatt
-------------------------------------
Joel M. Greenblatt, Manager
GOTHAM CAPITAL VI, LLC
By: /s/ Joel M. Greenblatt
-------------------------------------
Joel M. Greenblatt, Manager
GOTHAM CAPITAL VII, LLC
By: /s/ Joel M. Greenblatt
-------------------------------------
Joel M. Greenblatt, Manager
By: /s/ Joel M. Greenblatt
-------------------------------------
Joel M. Greenblatt, individually
Dated as of: April 19, 1999
