WASHINGTON, DC 20549
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SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 4)1
ROSE'S HOLDINGS, INC.
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(Name of issuer)
COMMON STOCK, NO PAR VALUE
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(Title of class of securities)
777764309
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(CUSIP number)
STEVEN WOLOSKY, ESQ.
OLSHAN GRUNDMAN FROME & ROSENZWEIG LLP
505 Park Avenue
New York, New York 10022
(212) 753-7200
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(Name, address and telephone number of person
authorized to receive notices and communications)
June 25, 1998
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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
/ /.
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.
(Continued on following pages)
(Page 1 of 7 Pages)
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1 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 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. 777764309 13D Page 2 of 7 Pages
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1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
STEEL PARTNERS II, L.P.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
WC, 00
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
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6 CITIZENSHIP OR PLACE OR ORGANIZATION
DELAWARE
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NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 2,026,559**
OWNED BY
EACH
REPORTING
PERSON WITH
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8 SHARED VOTING POWER
-0-
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9 SOLE DISPOSITIVE POWER
2,026,559**
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10 SHARED DISPOSITIVE POWER
-0-
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
2,026,559**
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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)
23.2%
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14 TYPE OF REPORTING PERSON*
PN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
** Includes 78,369 shares of Common Stock issuable upon exercise of
warrants within 60 days hereof.
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CUSIP No. 777764309 13D Page 3 of 7 Pages
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1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
WARREN LICHTENSTEIN
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
PF, 00
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
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6 CITIZENSHIP OR PLACE OR ORGANIZATION
USA
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NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 2,258,538**
OWNED BY
EACH
REPORTING
PERSON WITH
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8 SHARED VOTING POWER
- 0 -
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9 SOLE DISPOSITIVE POWER
2,258,538**
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10 SHARED DISPOSITIVE POWER
- 0 -
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
2,258,538**
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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)
25.2%
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14 TYPE OF REPORTING PERSON*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
** Includes (i) 226,979 shares of Common Stock issuable upon exercise of
options within 60 days hereof and (ii) 78,369 shares of Common Stock
issuable upon exercise of warrants within 60 days hereof.
<PAGE>
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CUSIP No. 777764309 13D Page 4 of 7 Pages
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The following constitutes Amendment No. 4 ("Amendment No. 4") to the
Schedule 13D filed by the undersigned. This Amendment No. 4 amends the Schedule
13D as specifically set forth.
Item 3 is amended to read as follows:
Item 3. Source and Amount of Funds or Other Consideration.
(a) The aggregate purchase price of the 1,948,190 Shares of Common
Stock owned by Steel Partners II is $2,397,860. The Shares of Common Stock owned
by Steel Partners II were acquired with partnership funds. The aggregate
purchase price of the 5,000 Shares of Common Stock purchased by Mr. Lichtenstein
is $8,281 and came from his personal funds.
(b) Steel Partners II purchased warrants (the "Warrants") to acquire
Shares set forth below, all of which are currently exercisable. Warrants owned
by Steel Partners II were acquired with partnership funds. The aggregate
purchase price of the Warrants is $2,796.
Purchase Date Number of Shares Exercise Price
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April 2, 1998 30,953 $11.84
April 6, 1998 12,416 11.84
May 5, 1998 35,000 11.84
In addition, Mr. Lichtenstein has been granted options to
acquire Shares of the Issuer all of which terminate five years following the
date of grant, as set forth below. Unless otherwise stated, all options are
currently exercisable.
Purchase Date Number of Shares Exercise Price
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January 26, 1997 8,450 $1.8750
April 27, 1997 8,219 1.9375
July 27, 1997 8,333 1.4375
October 26, 1997 7,627 1.5625
February 2, 1998 8,824 1.5625
May 1, 1998 10,526 1.7500
June 25, 1998 100,000* 1.9700
June 25, 1998 200,000** 1.7900
August 25, 1998 100,000 2.3400
* Options vest quarterly over a two year period with the first portion
vesting on August 2, 1998. Options to purchase 25,000 shares of Common
Stock are exercisable within 60 days hereof.
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CUSIP No. 777764309 13D Page 5 of 7 Pages
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** Options vest quarterly over a two year period with the first portion
vesting on August 2, 1998. Options to purchase 50,000 shares of Common
Stock are exercisable within 60 days hereof.
Item 5(a) is amended to read as follows:
Item 5. Interest in Securities of the Issuer.
(a) The aggregate percentage of Shares of Common Stock
reported owned by each person named herein is based upon 8,655,391 Shares
outstanding, which is the total number of Shares of Common Stock outstanding as
reported in the Issuer's Quarterly Report on Form 10-Q for the fiscal quarter
ended May 2, 1998. Such report disclosed, however, that 19,680 shares are held
in escrow pending resolution of certain disputed claims. To the extent that
escrowed shares of Common Stock are not used to satisfy claims, such shares will
revert to the Issuer and will be returned or held in the treasury of the Issuer,
however, the Issuer believes that if all claims are resolved in accordance with
the Issuer's records, there will be 8,675,071 shares of Common Stock
outstanding.
As of the close of business on September 9, 1998, Steel
Partners II beneficially owns 2,026,559 Shares of Common Stock, constituting
approximately 23.2% of the Shares outstanding. Included therein is 78,369 shares
of Common Stock issuable upon the exercise of warrants within 60 days hereof.
Mr. Lichtenstein beneficially owns 2,258,538 Shares, representing approximately
25.2% of the Shares outstanding. Mr. Lichtenstein has sole voting and
dispositive power with respect to the 5,000 Shares owned by him and the
2,026,559 Shares owned by Steel Partners II by virtue of his authority to vote
and dispose of such Shares. All of such Shares were acquired in open-market
transactions. In addition, Mr. Lichtenstein is deemed to be the beneficial owner
of 226,979 shares of Common Stock issuable upon the exercise of options within
60 days hereof, and to have sole voting and dispositive power with respect
thereto, and holds additional options to purchase 225,000 shares of Common
Stock.
Item 5(c) is amended by adding the following:
(c) Schedule A annexed hereto lists all transactions in the
Issuer's Common Stock in the last sixty days by the Reporting Persons.
<PAGE>
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CUSIP No. 777764309 13D Page 6 of 7 Pages
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SIGNATURES
After reasonable inquiry and to the best of his knowledge and
belief, each of the undersigned certifies that the information set forth in this
statement is true, complete and correct.
Dated: September 11, 1998 STEEL PARTNERS II, L.P.
By: Steel Partners, L.L.C.
General Partner
By:/s/ Warren G. Lichtenstein
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Warren G. Lichtenstein,
Chief Executive Officer
/s/ Warren G. Lichtenstein
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WARREN G. LICHTENSTEIN
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CUSIP No. 777764309 13D Page 7 of 7 Pages
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SCHEDULE A
Transactions in the Shares Within the Past 60 Days
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Shares of Common Price Per Date of
Stock Purchased Share Purchase
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STEEL PARTNERS II, L.P.
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20,000 2.09750 8/11/98
10,000 2.12375 8/19/98
WARREN LICHTENSTEIN
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Granted options to purchase 100,000 shares of Common Stock at an
exercise price of $2.34 per share on August 25, 1998.
