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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.1)*
ACORN PRODUCTS, INC.
(Name of Issuer)
Common Stock, par value $0.001 per share
(Title of Class of Securities)
004857 10 8
(CUSIP Number)
Michael E. Cahill, Esq. Kenneth Liang
Managing Director & General Counsel Managing Director & General Counsel
The TCW Group, Inc. Oaktree Capital Management, LLC
865 South Figueroa Street, Suite 1800 550 South Hope Street, 22nd Floor
Los Angeles, California 90017 Los Angeles, California 90071
(213) 244-0000 (213) 614-0000
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
December 9, 1997
(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 [ ].
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 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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SCHEDULE 13D
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CUSIP NO. 004857 10 8 PAGE 2 OF 6 PAGES
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1
NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Oaktree Capital Management, 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*
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
California
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7
NUMBER OF SOLE VOTING POWER
SHARES
BENEFICIALLY 1,107,500
OWNED BY
EACH
REPORTING
PERSON WITH
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8
SHARED VOTING POWER
-0-
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9
SOLE DISPOSITIVE POWER
1,107,500
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10
SHARED DISPOSITIVE POWER
-0-
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11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,107,500
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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)
17.1%
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14
TYPE OF REPORTING PERSON*
IA; OO
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*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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SCHEDULE 13D
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CUSIP NO. 004857 10 8 PAGE 3 OF 6 PAGES
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1
NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
OCM Principal Opportunities Fund, L.P.
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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*
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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7
NUMBER OF SOLE VOTING POWER
SHARES
BENEFICIALLY 1,107,500
OWNED BY
EACH
REPORTING
PERSON WITH
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8
SHARED VOTING POWER
-0-
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9
SOLE DISPOSITIVE POWER
1,107,500
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10
SHARED DISPOSITIVE POWER
-0-
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11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,107,500
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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)
17.1%
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14
TYPE OF REPORTING PERSON*
PN
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*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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This Amendment No. 1 amends and supplements, pursuant to Rule 13d-2(a), the
Schedule 13D of The TCW Group, Inc., Robert A. Day, Trust Company of the West,
TCW Asset Management Company, TCW Special Credits, TCW Special Credits Fund
III, TCW Special Credits Fund IIIb, TCW Special Credits Trust IIIb, Oaktree
Capital Management, LLC and OCM Principal Opportunities Fund, L.P. filed with
the Securities and Exchange Commission on July 3, 1997 relating to the common
stock, par value $0.001 per share (the "Common Stock") of Acorn Products, Inc.,
a Delaware corporation (the "Issuer").
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
Paragraph five of Item 3 is hereby amended and restated in its entirety to read
as follows:
The Oaktree Fund holds 1,107,500 shares of the Issuer's outstanding Common
Stock. The Oaktree Fund acquired 812,500 shares of the Issuer's outstanding
Common Stock in the Issuer's initial public offering for $14.00 per share. The
Oaktree Fund acquired 125,000 shares of the Issuer's outstanding Common Stock
pursuant to a negotiated private transaction for $14.00 per share. Through open
market purchases, the Oaktree Fund acquired 10,000 shares of the Issuer's
outstanding Common Stock for $14.00 per share, 20,000 shares of the Issuer's
outstanding Common Stock for $10.75 per share and 140,000 shares of the
Issuer's outstanding Common Stock for $10.28 per share. All such purchases
were made from the working capital of the Oaktree Fund.
Item 5. INTEREST AND SECURITIES OF THE ISSUER
Paragraphs six and seven of subsection (a) of Item 5 are hereby amended and
restated in their entirety as follows:
As of the date of this Statement, the Oaktree Fund beneficially owns 1,107,500
shares of the Issuer's outstanding Common Stock, which is approximately 17.1% of
the Issuer's outstanding Common Stock.
Oaktree, as the general partner of the Oaktree Fund, may be deemed to
beneficially own 1,107,500 shares of the Issuer's Common Stock. Certain
principals of Oaktree are individual general partners of Special Credits, (the
"Individual Partners"). The Individual Partners, in their capacity as general
partners of Special Credits, have been designated to manage the Special Credits
Limited Partnerships, the Special Credits Trusts and the Special Credits
Accounts. Although Oaktree provides consulting, research and other investment
management support to the Individual Partners, Oaktree does not have voting or
dispositive power with respect to the Special Credits Limited Partnerships, the
Special Credits Trusts or the Special Credits Accounts. Oaktree therefore
disclaims beneficial ownership of the 3,162,049 shares of the Issuer's Common
Stock, or approximately 48.9% of the outstanding shares of the Issuer's Common
Stock, held by the Special Credits Entities and the Special Credits Accounts,
and the filing of this Statement shall not be construed as an admission that
Oaktree is the beneficial owner of any securities held by the Special Credits
Entities and the Special Credits Accounts.
Paragraph five of subsection (b) of Item 5 is hereby amended and restated in
its entirety as follows:
Oaktree, as the general partner of the Oaktree Fund, has discretionary
authority and control over all of the assets of the Oaktree Fund pursuant to
the partnership agreement for the Oaktree Fund, including the power to vote and
dispose of the Issuer's Common Stock held in the name of the Oaktree Fund.
Therefore, Oaktree has the power to vote and dispose of 1,107,500 shares of the
Issuer's Common Stock.
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SIGNATURE
After reasonable inquiry and to the best of its knowledge and belief, the
undersigned certify that the information set forth in this Amendment No. 1 is
true, complete and correct.
Dated as of this 16th day of December, 1997.
THE TCW GROUP, INC.
/s/ Mohan Phansalkar
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Mohan Phansalkar
Authorized Signatory
ROBERT A. DAY
/s/ Mohan Phansalkar
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Mohan Phansalkar
Under Power of Attorney dated
January 30, 1996, on file with
Schedule 13G Amendment No. 1 for
Matrix Service Co. dated January 30, 1996
TRUST COMPANY OF THE WEST
/s/ Bruce A. Karsh
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Bruce A. Karsh
Authorized Signatory
TCW ASSET MANAGEMENT COMPANY
/s/ Bruce A. Karsh
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Bruce A. Karsh
Authorized Signatory
TCW SPECIAL CREDITS
/s/ Bruce A. Karsh
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Bruce A. Karsh,
Authorized Signatory of TCW Asset Management Company,
the Managing General Partner of TCW Special Credits
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TCW SPECIAL CREDITS FUND III
/s/ Bruce A. Karsh
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Bruce A. Karsh
Authorized Signatory of TCW Asset Management Company,
the Managing General Partner of TCW Special Credits,
the General Partner of TCW Special Credits Fund III
TCW SPECIAL CREDITS FUND IIIb
/s/ Bruce A. Karsh
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Bruce A. Karsh
Authorized Signatory of TCW Asset Management Company,
the Managing General Partner of TCW Special Credits,
the General Partner of TCW Special Credits Fund IIIb
TCW SPECIAL CREDITS TRUST IIIb
/s/ Bruce A. Karsh
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Bruce A. Karsh
Authorized Signatory of Trust Company of the West,
the trustee of TCW Special Credits Trust IIIb
OAKTREE CAPITAL MANAGEMENT, LLC
/s/ Kenneth Liang
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Kenneth Liang
Managing Director and General Counsel
OCM PRINCIPAL OPPORTUNITIES FUND, L.P.
/s/ Kenneth Liang
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Kenneth Liang
Managing Director and General Counsel of
Oaktree Capital Management, LLC,
the General Partner of OCM
Principal Opportunities Fund, L.P.
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