UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
-----------------------
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(AMENDMENT NO. )
-----------------------
RAYTECH CORPORATION
(Name of Issuer)
Common Stock par value $1.00 per share
(Title of Class of Securities)
755103108
(CUSIP Number)
-----------------------
TIMOTHY I. LEVART
885 THIRD AVENUE
NEW YORK, NY 10022
TEL. NO.: (212) 371-3813
(Name, Address and Telephone Number of
Person Authorized to Receive Notices
and Communications)
-----------------------
MAY 8, 1998
(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(b)(3) or (4), check the following box [ ].
Page 1 of 32 Pages
<PAGE>
SCHEDULE 13D
CUSIP NO. 755103108 PAGE 2 OF 32 PAGES
---------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Davidson Kempner Partners
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [X]
(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
New York
7 SOLE VOTING POWER
NUMBER OF 48,000
SHARES
BENEFICIALLY OWNED 8 SHARED VOTING POWER
BY EACH REPORTING
PERSON --
WITH
9 SOLE DISPOSITIVE POWER
48,000
10 SHARED DISPOSITIVE POWER
--
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
48,000
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ]
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.46%
14 TYPE OF REPORTING PERSON
PN
<PAGE>
SCHEDULE 13D
CUSIP NO. 755103108 PAGE 3 OF 32 PAGES
---------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Davidson Kempner Institutional Partners, L.P.
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [X]
(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
Delaware
7 SOLE VOTING POWER
NUMBER OF 81,600
SHARES
BENEFICIALLY OWNED 8 SHARED VOTING POWER
BY EACH REPORTING
PERSON --
WITH
9 SOLE DISPOSITIVE POWER
81,600
10 SHARED DISPOSITIVE POWER
--
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
81,600
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ]
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.48%
14 TYPE OF REPORTING PERSON
PN
<PAGE>
SCHEDULE 13D
CUSIP NO. 755103108 PAGE 4 OF 32 PAGES
---------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Davidson Kempner Endowment Partners
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [X]
(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
New York
7 SOLE VOTING POWER
NUMBER OF 15,100
SHARES
BENEFICIALLY OWNED 8 SHARED VOTING POWER
BY EACH REPORTING
PERSON --
WITH
9 SOLE DISPOSITIVE POWER
15,100
10 SHARED DISPOSITIVE POWER
--
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
15,100
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ]
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
.46%
14 TYPE OF REPORTING PERSON
PN
<PAGE>
SCHEDULE 13D
CUSIP NO. 755103108 PAGE 5 OF 32 PAGES
---------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
MHD Management Co.
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [X]
(B) [ ]
3 SEC USE ONLY
4 SOURCE OF FUNDS
AF
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [ ]
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
7 SOLE VOTING POWER
NUMBER OF 63,100
SHARES
BENEFICIALLY OWNED 8 SHARED VOTING POWER
BY EACH REPORTING
PERSON --
WITH
9 SOLE DISPOSITIVE POWER
63,100
10 SHARED DISPOSITIVE POWER
--
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
63,100
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ]
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.92%
14 TYPE OF REPORTING PERSON
PN
<PAGE>
SCHEDULE 13D
CUSIP NO. 755103108 PAGE 6 OF 32 PAGES
---------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
M.H. Davidson & Co.
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [X]
(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
New York
7 SOLE VOTING POWER
NUMBER OF 3,400
SHARES
BENEFICIALLY OWNED 8 SHARED VOTING POWER
BY EACH REPORTING
PERSON --
WITH
9 SOLE DISPOSITIVE POWER
3,400
10 SHARED DISPOSITIVE POWER
--
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,400
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ]
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
.10%
14 TYPE OF REPORTING PERSON
PN
<PAGE>
SCHEDULE 13D
CUSIP NO. 755103108 PAGE 7 OF 32 PAGES
---------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Davidson Kempner Advisers Inc.
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [X]
(B) [ ]
3 SEC USE ONLY
4 SOURCE OF FUNDS
AF
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [ ]
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
7 SOLE VOTING POWER
NUMBER OF 81,600
SHARES
BENEFICIALLY OWNED 8 SHARED VOTING POWER
BY EACH REPORTING
PERSON --
WITH
9 SOLE DISPOSITIVE POWER
81,600
10 SHARED DISPOSITIVE POWER
--
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
81,600
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ]
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.48%
14 TYPE OF REPORTING PERSON
CO
<PAGE>
SCHEDULE 13D
CUSIP NO. 755103108 PAGE 8 OF 32 PAGES
---------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Davidson Kempner International Ltd.
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [X]
(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
British Virgin Islands
7 SOLE VOTING POWER
NUMBER OF 18,500
SHARES
BENEFICIALLY OWNED 8 SHARED VOTING POWER
BY EACH REPORTING
PERSON --
WITH
9 SOLE DISPOSITIVE POWER
18,500
10 SHARED DISPOSITIVE POWER
--
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
18,500
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ]
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
.56%
14 TYPE OF REPORTING PERSON
CO
<PAGE>
SCHEDULE 13D
CUSIP NO. 755103108 PAGE 9 OF 32 PAGES
---------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Davidson Kempner International Advisers, L.L.C.
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [X]
(B) [ ]
3 SEC USE ONLY
4 SOURCE OF FUNDS
AF
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 18,500
SHARES
BENEFICIALLY OWNED 8 SHARED VOTING POWER
BY EACH REPORTING
PERSON --
WITH
9 SOLE DISPOSITIVE POWER
18,500
10 SHARED DISPOSITIVE POWER
--
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
18,500
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ]
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
.56%
14 TYPE OF REPORTING PERSON
CO
<PAGE>
SCHEDULE 13D
CUSIP NO. 755103108 PAGE 10 OF 32 PAGES
---------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Marvin H. Davidson
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [X]
(B) [ ]
3 SEC USE ONLY
4 SOURCE OF FUNDS
AF
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
NUMBER OF --
SHARES
BENEFICIALLY OWNED 8 SHARED VOTING POWER
BY EACH REPORTING
PERSON 166,600
WITH
9 SOLE DISPOSITIVE POWER
--
10 SHARED DISPOSITIVE POWER
166,600
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
166,600
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ]
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.07%
14 TYPE OF REPORTING PERSON
IN
<PAGE>
SCHEDULE 13D
CUSIP NO. 755103108 PAGE 11 OF 32 PAGES
---------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Thomas L. Kempner, Jr.
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [X]
(B) [ ]
3 SEC USE ONLY
4 SOURCE OF FUNDS
AF, PF
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
NUMBER OF --
SHARES
BENEFICIALLY OWNED 8 SHARED VOTING POWER
BY EACH REPORTING
PERSON 172,500
WITH
9 SOLE DISPOSITIVE POWER
--
10 SHARED DISPOSITIVE POWER
172,500
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
167,600
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [X]
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.25%
14 TYPE OF REPORTING PERSON
IN
<PAGE>
SCHEDULE 13D
CUSIP NO. 755103108 PAGE 12 OF 32 PAGES
---------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Stephen M. Dowicz
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [X]
(B) [ ]
3 SEC USE ONLY
4 SOURCE OF FUNDS
AF
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
NUMBER OF --
SHARES
BENEFICIALLY OWNED 8 SHARED VOTING POWER
BY EACH REPORTING
PERSON 169,100
WITH
9 SOLE DISPOSITIVE POWER
--
10 SHARED DISPOSITIVE POWER
169,100
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
166,600
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [X]
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.15%
14 TYPE OF REPORTING PERSON
IN
<PAGE>
SCHEDULE 13D
CUSIP NO. 755103108 PAGE 13 OF 32 PAGES
---------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Scott E. Davidson
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [X]
(B) [ ]
3 SEC USE ONLY
4 SOURCE OF FUNDS
AF
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
NUMBER OF --
SHARES
BENEFICIALLY OWNED 8 SHARED VOTING POWER
BY EACH REPORTING
PERSON 169,100
WITH
9 SOLE DISPOSITIVE POWER
--
10 SHARED DISPOSITIVE POWER
169,100
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
166,600
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [X]
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.15%
14 TYPE OF REPORTING PERSON
IN
<PAGE>
SCHEDULE 13D
CUSIP NO. 755103108 PAGE 14 OF 32 PAGES
---------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Michael J. Leffell
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (A) [X]
(B) [ ]
3 SEC USE ONLY
4 SOURCE OF FUNDS
AF
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
NUMBER OF --
SHARES
BENEFICIALLY OWNED 8 SHARED VOTING POWER
BY EACH REPORTING
PERSON 169,100
WITH
9 SOLE DISPOSITIVE POWER
--
10 SHARED DISPOSITIVE POWER
169,100
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
166,600
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [X]
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.15%
14 TYPE OF REPORTING PERSON
IN
<PAGE>
<PAGE>
SCHEDULE 13D
CUSIP No. 755103108 Page 15 of 32 Pages
---------
Item 1. Security and Issuer.
This Schedule relates to the Common Stock (the "Common Stock"), par
value $1.00 per share, of Raytech Corporation (the "Company"). The principal
executive offices of the Company are located at Suite 512, One Corporate Drive,
Shelton, Connecticut 06484.
Item 2. Identity and Background.
The names and addresses of the persons filing this Schedule are as
follows:
Davidson Kempner Partners ("DKP"), a New York limited partnership,
whose address is 885 Third Avenue, New York, New York, 10022, and which
is engaged in buying and selling securities for investment purposes;
Davidson Kempner Institutional Partners, L.P. ("DKIP"), a Delaware
limited partnership, whose address is 885 Third Avenue, New York, New
York, 10022, and which is engaged in buying and selling securities for
investment purposes;
Davidson Kempner Endowment Partners ("DKEP"), a New York limited
partnership, whose address is 885 Third Avenue, New York, New York,
10022, and which is engaged in buying and selling securities for
investment purposes;
MHD Management Co. ("MHD"), a New York limited partnership, the general
partner of DKP and DKEP whose address is 885 Third Avenue, New York,
New York, 10022, and which is engaged in buying and selling securities
for investment purposes;
M.H. Davidson & Co., a New York limited partnership whose address is
885 Third Avenue, New York, New York, 10022, and which is engaged in
buying and selling securities for investment purposes;
Davidson Kempner Advisers Inc. ("DKAI"), a New York corporation, whose
address is 885 Third Avenue, New York, New York, 10022, and which is
engaged in buying and selling securities for investment purposes. DKAI
is the general partner of DKIP;
<PAGE>
SCHEDULE 13D
CUSIP No. 755103108 Page 16 of 32 Pages
---------
Davidson Kempner International Ltd. ("DKIL"), a British Virgin Islands
company, whose address is c/o Citco B.V.I. Limited, Citco Building,
Wickhams Cay, P.O. Box 662, Road Town, Tortolla British Virgin Islands,
and which is engaged in buying and selling securities for investment
purposes;
Davidson Kempner International Advisors, L.L.C. ("DKIA"), a Delaware
limited liability company, whose address is 885 Third Avenue, New York,
New York 10022, and which is the investment manager of DKIL; and
Marvin H. Davidson, Thomas L. Kempner, Jr., Stephen M. Dowicz, Scott E.
Davidson and Michael J. Leffell, general partners of MHD and M.H.
Davidson & Co. and who are the sole stockholders of DKAI. Information
in response to Items (a) through (c) and (f) with respect to Messrs.
Marvin H. Davidson, Kempner, Dowicz, Scott E. Davidson and Leffell is
set forth in Appendix I, attached hereto and incorporated by reference
herein.
The above named persons are sometimes referred to as the "Reporting
Persons."
None of the Reporting Persons has, during the last five years, been (i)
convicted in a criminal proceeding or (ii) a party to a civil proceeding of a
judicial or adminis trative body of competent jurisdiction as a result of which
such person was subject to a judgment, decree or final order enjoining future
violations of, or prohibiting or mandating activities subject to, federal or
state securities laws or finding any violation with respect to such laws.
Certain information concerning the officers and directors of DKAI and
DKIA is set forth on Appendix I hereto and incorporated by reference herein.
Item 3. Source and Amount of Funds or Other Consideration
Working capital of DKP, DKIP, DKEP, MHD and DKIL.
Item 4. Purpose of the Transaction.
DKP, DKIP, DKEP, MHD and DKIL have acquired the shares of Common Stock
for investment purposes.
DKP, DKIP, DKEP, MHD and DKIL have no intention, plan or proposal with
respect to:
<PAGE>
SCHEDULE 13D
CUSIP No. 755103108 Page 17 of 32 Pages
---------
(a) The acquisition by any person of additional
securities of the issuer, or the disposition
of securities of the issuer;
(b) An extraordinary corporate transaction, such
as a merger, reorganization or liquidation,
involving the issuer or any of its
subsidiaries;
(c) A sale or transfer of a material amount of
assets of the issuer or any of its
subsidiaries;
(d) Any change in the present Board of Directors or
management of the issuer, including any plans or
proposals to change the number or term of directors
or to fill any existing vacancies on the Board;
(e) Any material change in the present
capitalization or dividend policy of the
issuer;
(f) Any other material change in the issuer's
business or corporate structure, including
but not limited to, if the issuer is a
registered closed-end investment company, any
plans or proposals to make any changes in its
investment policy for which a vote is
required by Section 13 of the Investment
Company Act of 1940;
(g) Changes in the issuer's charter, bylaws or
instruments corresponding thereto or other actions
which may impede the acquisition of control of the
issuer by any person;
(h) Causing a class of securities of the issuer to be
delisted from a national securities exchange or to
cease to be authorized to be quoted in an
inter-dealer quotation system of a registered
national securities association;
(i) A class of equity securities of the issuer becoming
eligible for termination of registration pursuant to
Section 12(g)(4) of the Securities Exchange Act of
1934; or
(j) Any action similar to any of those enumerated
above.
<PAGE>
SCHEDULE 13D
CUSIP No. 755103108 Page 18 of 32 Pages
---------
Each of the Reporting Persons, however, may, at any time and from time
to time, and reserves the right to, acquire additional securities of the
Company, dispose of any such securities of the Company or formulate other plans
or proposals regarding the Company or its securities, to the extent deemed
advisable by such Reporting Person in light of its general investment policies,
market conditions or other factors.
Item 5. Interest in Securities of the Issuer.
The aggregate percentage of Common Stock reported owned by each person
herein is based upon the Issuer's Form 10-K filed on March 18, 1998, which
disclosed that 3,285,308 Shares of Common Stock were outstanding at the close of
business on March 16, 1998.
As of the close of business on May 8, 1998:
Name of Reporting Party:
DKP
(a) Aggregate Number of Securities Owned 48,000
Percentage 1.46%
(b) 1. Sole power to vote or to direct
the vote 48,000
2. Shared power to vote or to direct
the vote --
3. Sole power to dispose or to direct
the disposition 48,000
4. Shared power to dispose of or to
direct the disposition --
(c) Information concerning transactions in
the Common Stock effected by DKP is set
forth in Appendix II.
DKIP
(a) Aggregate Number of Securities Owned 81,600
Percentage 2.48%
<PAGE>
SCHEDULE 13D
CUSIP No. 755103108 Page 19 of 32 Pages
---------
(b) 1. Sole power to vote or to direct
the vote 81,600
2. Shared power to vote or to direct
the vote --
3. Sole power to dispose or to direct
the disposition 81,600
4. Shared power to dispose of or to
direct the disposition --
(c) Information concerning transactions
in the Common Stock effected by DKIP is
set forth in Appendix II.
DKEP
(a) Aggregate Number of Securities Owned 15,100
Percentage .46%
(b) 1. Sole power to vote or to direct
the vote 15,100
2. Shared power to vote or to direct
the vote --
3. Sole power to dispose or to direct
the disposition 15,100
4. Shared power to dispose of or to
direct the disposition --
(c) Information concerning transactions
in the Common Stock effected by DKEP is
set forth in Appendix II.
MHD Management Co.
(a) Aggregate Number of Securities Owned 63,100
(b) Percentage 1.92%
1. Sole power to vote or to direct
the vote 63,100
2. Shared power to vote or to direct
the vote --
<PAGE>
SCHEDULE 13D
CUSIP No. 755103108 Page 20 of 32 Pages
---------
3. Sole power to dispose or to direct
the disposition 63,100
4. Shared power to direct the
disposition --
M.H. Davidson & Co.
(a) Aggregate Number of Securities Owned 3,400
(b) Percentage .10%
1. Sole power to vote or to direct
the vote 3,400
2. Shared power to vote or to direct
the vote --
3. Sole power to dispose or to direct
the disposition 3,400
4. Shared power to direct the
disposition --
(c) Information concerning transactions
in the Common Stock effected by M.H. Davidson
& Co. is set forth in Appendix II.
Davidson Kempner Advisers Inc.
(a) Aggregate Number of Securities Owned 81,600
(b) Percentage 2.48%
1. Sole Power to vote or to direct
the vote 81,600
2. Shared Power to vote or to direct
the vote --
3. Sole power to dispose or to direct
the dispositions 81,600
4. Shared power to direct the
disposition --
<PAGE>
SCHEDULE 13D
CUSIP No. 755103108 Page 21 of 32 Pages
---------
Davidson Kempner International Ltd.
(a) Aggregate Number of Securities Owned 18,500
(b) Percentage .56%
1. Sole power to vote or to direct
the vote 18,500
2. Shared power to vote or to direct
the vote --
3. Sole power to dispose or to direct
the disposition 18,500
4. Shared power to direct the
disposition --
(c) Information concerning transactions
in the Common Stock effected by DKIL
is set forth in Appendix II.
DKIA
(a) Aggregate Number of Securities Owned 18,500
(b) Percentage .56%
1. Sole power to vote or to direct
the vote 18,500
2. Shared power to vote or to direct
the vote --
3. Sole power to dispose or to direct
the disposition 18,500
4. Shared power to direct the
disposition --
Marvin H. Davidson
(a) Aggregate Number of Securities Owned 166,600
(b) Percentage 5.07%
5. Sole Power to vote or to direct
the vote --
6. Shared Power to vote or to direct
the vote 166,600
<PAGE>
SCHEDULE 13D
CUSIP No. 755103108 Page 22 of 32 Pages
---------
7. Sole power to dispose or to direct
the dispositions --
8. Shared power to direct the
disposition 166,600
Thomas L. Kempner, Jr.
(a) Aggregate Number of Securities Owned 167,600*/ **/
(b) Percentage 5.25%
1. Sole Power to vote or to direct
the vote --
2. Shared Power to vote or to direct
the vote 172,500
3. Sole power to dispose or to direct
the disposition --
4. Shared power to direct the
disposition 172,500
Stephen M. Dowicz
(a) Aggregate Number of Securities Owned 166,600*/
(b) Percentage 5.15%
1. Sole Power to vote or to direct
the vote --
2. Shared Power to vote or to direct
the vote 169,100
- --------
*/
Excludes 2,500 shares held by the M.H. Davidson & Co.,
Inc. 401(k) Plan, of which Messrs. Kempner, Leffell,
Dowicz and Scott Davidson are the Trustees. Each of
Messrs. Kempner, Leffell, Dowicz and Scott Davidson
disclaims beneficial ownership of such shares except to
the extent of such persons interest in such 401(k) Plan.
**/ Excludes 2,400 shares held by entities for the benefit
of Mr. Kempner's children and certain charities.
Mr. Kempner disclaims beneficial ownership of such
shares.
<PAGE>
SCHEDULE 13D
CUSIP No. 755103108 Page 23 of 32 Pages
---------
3. Sole power to dispose or to direct
the disposition --
4. Shared power to direct the
disposition 169,100
Scott E. Davidson
(a) Aggregate Number of Securities Owned 166,600*/
(b) Percentage 5.15%
1. Sole Power to vote or to direct
the vote --
2. Shared Power to vote or to direct
the vote 169,100
3. Sole power to dispose or to direct
the disposition --
4. Shared power to direct the
disposition 169,100
Michael J. Leffell
(a) Aggregate Number of Securities Owned 166,600*/
(b) Percentage 5.15%
1. Sole Power to vote or to direct
the vote --
2. Shared Power to vote or to direct
the vote 169,100
3. Sole power to dispose or to direct
the disposition --
4. Shared power to direct the
disposition 169,100
- --------
*/ Excludes 2,500 shares held by the M.H. Davidson & Co.,
Inc. 401(k) Plan, of which Messrs. Kempner, Leffell,
Dowicz and Scott Davidson are the Trustees. Each of
Messrs. Kempner, Leffell, Dowicz and Scott Davidson
disclaims beneficial ownership of such shares except to
the extent of such persons interest in such 401(k)
Plan.
<PAGE>
SCHEDULE 13D
CUSIP No. 755103108 Page 24 of 32 Pages
---------
Item 6. Contracts, Arrangements, Understandings or
Relationships with Respect to Securities of the
Issuer
None.
Item 7. Material to be Filed as Exhibits
Exhibit 1: Agreement relating to the filing of
joint acquisition statements as
required by Rule 13d-1(F)(1) under
the Securities Exchange Act of 1934,
as amended.
<PAGE>
SCHEDULE 13D
CUSIP No. 755103108 Page 25 of 32 Pages
---------
SIGNATURES
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.
May 14, 1998
DAVIDSON KEMPNER PARTNERS
By MHD Management Co., its
general partner
By: /s/ Thomas L. Kempner, Jr
-----------------------------
Thomas L. Kempner, Jr.
General Partner
DAVIDSON KEMPNER INSTITUTIONAL
PARTNERS, L.P.
By Davidson Kempner Advisers
Inc., its general partner
By: /s/ Thomas L. Kempner, Jr
-----------------------------
Thomas L. Kempner, Jr.
Secretary
<PAGE>
SCHEDULE 13D
CUSIP No. 755103108 Page 26 of 32 Pages
---------
DAVIDSON KEMPNER ENDOWMENT PARTNERS
By MHD Management Co., its
general partner
By: /s/ Thomas L. Kempner, Jr.
------------------------------
Thomas L. Kempner, Jr.
General Partner
MHD MANAGEMENT CO.
By: /s/ Thomas L. Kempner, Jr.
------------------------------
Thomas L. Kempner, Jr.
General Partner
DAVIDSON KEMPNER ADVISERS INC.
By: /s/ Thomas L. Kempner, Jr.
------------------------------
Thomas L. Kempner, Jr.
Secretary
DAVIDSON KEMPNER INTERNATIONAL LTD.
By Davidson Kempner International
Advisors, LLC
By: /s/ Thomas L. Kempner, Jr.
------------------------------
Thomas L. Kempner, Jr.
A Managing Member
DAVIDSON KEMPNER INTERNATIONAL
ADVISORS, LLC
By: /s/ Thomas L. Kempner, Jr.
------------------------------
Thomas L. Kempner, Jr.
A Managing Member
<PAGE>
SCHEDULE 13D
CUSIP No. 755103108 Page 27 of 32 Pages
---------
/s/ Marvin H. Davidson
----------------------
Marvin H. Davidson
/s/ Thomas L. Kempner, Jr.
--------------------------
Thomas L. Kempner, Jr.
/s/ Stephen M. Dowicz
---------------------
Stephen M. Dowicz
/s/ Scott E. Davidson
---------------------
Scott E. Davidson
/s/ Michael J. Leffell
----------------------
Michael J. Leffell
<PAGE>
SCHEDULE 13D
CUSIP No. 755103108 Page 28 of 32 Pages
---------
APPENDIX I
Davidson Kempner Advisers Inc. and
Davidson Kempner International Advisors LLC
Present Principal Occupation
Name and Position and Business Address
- ----------------- ----------------------------
Marvin H. Davidson Investment Advisor
DKAI - President 885 Third Avenue
DKIA - Executive Managing New York, NY 10022
Member
Stephen M. Dowicz Investment Advisor
DKAI - Treasurer 885 Third Avenue
DKIA - Managing Member New York, NY 10022
Thomas L. Kempner, Jr. Investment Advisor
DKAI - Secretary 885 Third Avenue
DKIA - Managing Member New York, NY 10022
Scott E. Davidson Investment Advisor
DKAI - Managing Director 885 Third Avenue
DKIA - Managing Member New York, NY 10022
Michael J. Leffell Investment Advisor
DKAI - Managing Director 885 Third Avenue
DKIA - Managing Member New York, NY 10022
<PAGE>
SCHEDULE 13D
CUSIP No. 755103108 Page 29 of 32 Pages
---------
APPENDIX II
Raytech Corporation
Transaction Schedule
For the sixty-day period ending May 8, 1998
<TABLE>
<CAPTION>
Where/How
Transaction
Date Quantity Price/Share Buy/Sell Affected
---- -------- ----------- -------- --------
<S> <C> <C> <C> <C>
4/24/98 68,300 5.071 Buy Open Market
4/27/98 7,900 5.3149 Buy Open Market
4/28/98 1,000 5.00 Buy Open Market
4/29/98 800 5.00 Buy Open Market
4/30/98 40,000 5.25 Buy Open Market
5/1/98 20,000 5.00 Buy Open Market
5/4/98 5,000 5.00 Buy Open Market
5/5/98 1,000 5.00 Buy Open Market
5/8/98 1,600 5.00 Buy Open Market
</TABLE>
SCHEDULE 13D
CUSIP No. 755103108 Page 30 of 32 Pages
---------
EXHIBIT 1
to SCHEDULE 13D
JOINT ACQUISITION STATEMENT
PURSUANT TO RULE 13D-(f)(1)
The undersigned acknowledge and agree that the foregoing statement on
Schedule 13D is filed on behalf of each of the undersigned and that all
subsequent amendments to this statement on Schedule 13D shall be filed on behalf
of each of the undersigned without the necessity of filing additional joint
acquisition statements. The undersigned acknowledge that each shall be
responsible for the timely filing of such amendments, and for the completeness
and accuracy of the information concerning him, her or it contained herein, but
shall not be responsible for the completeness and accuracy of the information
concerning the other entities or persons, except to the extent that he, she or
it knows or has reason to believe that such information is accurate.
Dated: May 14, 1998
DAVIDSON KEMPNER PARTNERS
By MHD Management Co., its
general partner
By: /s/ Thomas L. Kempner, Jr
-----------------------------
Thomas L. Kempner, Jr.
General Partner
DAVIDSON KEMPNER INSTITUTIONAL
PARTNERS, L.P.
By Davidson Kempner Advisers
Inc., its general partner
By: /s/ Thomas L. Kempner, Jr
-----------------------------
Thomas L. Kempner, Jr.
Secretary
<PAGE>
SCHEDULE 13D
CUSIP No. 755103108 Page 31 of 32 Pages
---------
DAVIDSON KEMPNER ENDOWMENT PARTNERS
By MHD Management Co., its
general partner
By: /s/ Thomas L. Kempner, Jr.
------------------------------
Thomas L. Kempner, Jr.
General Partner
MHD MANAGEMENT CO.
By: /s/ Thomas L. Kempner, Jr.
------------------------------
Thomas L. Kempner, Jr.
General Partner
DAVIDSON KEMPNER ADVISERS INC.
By: /s/ Thomas L. Kempner, Jr.
------------------------------
Thomas L. Kempner, Jr.
Secretary
DAVIDSON KEMPNER INTERNATIONAL LTD.
By Davidson Kempner International
Advisors, LLC
By: /s/ Thomas L. Kempner, Jr.
------------------------------
Thomas L. Kempner, Jr.
A Managing Member
DAVIDSON KEMPNER INTERNATIONAL
ADVISORS, LLC
By: /s/ Thomas L. Kempner, Jr.
------------------------------
Thomas L. Kempner, Jr.
A Managing Member
<PAGE>
SCHEDULE 13D
CUSIP No. 755103108 Page 32 of 32 Pages
---------
/s/ Marvin H. Davidson
----------------------
Marvin H. Davidson
/s/ Thomas L. Kempner, Jr.
--------------------------
Thomas L. Kempner, Jr.
/s/ Stephen M. Dowicz
---------------------
Stephen M. Dowicz
/s/ Scott E. Davidson
---------------------
Scott E. Davidson
/s/ Michael J. Leffell
----------------------
Michael J. Leffell
