UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 4)(1)
SALANT CORPORATION
- --------------------------------------------------------------------------------
(Name of issuer)
Common Stock, par value $1.00 per Share
- --------------------------------------------------------------------------------
(Title of class of securities)
793897109
------------------------------------------------------------
(CUSIP number)
Wendy Schnipper Clayton
DDJ Capital Management, LLC
141 Linden Street, Suite 4
Wellesley, MA 02181
- --------------------------------------------------------------------------------
(Name, address and telephone number of person authorized to receive
notices and communications)
February 11, 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.
(Continued on following pages)
(Page 1 of 13 Pages)
- ------------------
[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>
SCHEDULE 13D
|-----------------------| |--------------------------|
|CUSIP Nos. 793897109 | | Page 2 of 13 Pages |
|-----------------------| |--------------------------|
|----------------------------------------------------------------------------|
| | |
| 1 | NAME OF REPORTING PERSON |
| | S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON |
| | |
| | DDJ Capital Management, LLC |
| | 04-3300754 |
|---------|------------------------------------------------------------------|
| | |
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]|
| | SEE ITEM #5 (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 |
| | |
| | COMMONWEALTH OF MASSACHUSETTS |
| | |
|----------------|-----|-----------------------------------------------------|
| | | |
| NUMBER OF | 7 | SOLE VOTING POWER |
| | | |
| SHARES | | 1,809,100 |
| |-----|-----------------------------------------------------|
| BENEFICIALLY | | |
| | 8 | SHARED VOTING POWER |
| OWNED BY EACH | | |
| |-----|-----------------------------------------------------|
| REPORTING | | |
| | 9 | SOLE DISPOSITIVE POWER |
| PERSON | | |
| | | 1,809,100 |
| WITH |-----|-----------------------------------------------------|
| | | |
| | 10 | SHARED DISPOSITIVE POWER |
| | | |
|----------------------------------------------------------------------------|
| | |
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON |
| | |
| | 1,809,100 |
| | |
|---------|------------------------------------------------------------------|
| | |
| 12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) |
| | EXCLUDES CERTAIN SHARES* [ ] |
| | |
|---------|------------------------------------------------------------------|
| | |
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) |
| | |
| | 12.28% |
|---------|------------------------------------------------------------------|
| | |
| 14 | TYPE OF REPORTING PERSON * |
| | |
| | 00 |
|----------------------------------------------------------------------------|
* SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
|-----------------------| |--------------------------|
|CUSIP Nos. 793897109 | | Page 3 of 13 Pages |
|-----------------------| |--------------------------|
|----------------------------------------------------------------------------|
| | |
| 1 | NAME OF REPORTING PERSON |
| | S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON |
| | |
| | DDJ Overseas Corp. |
| | 98-0151108 |
|---------|------------------------------------------------------------------|
| | |
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]|
| | SEE ITEM #5 (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 |
| | |
| | CAYMAN ISLANDS |
| | |
|----------------|-----|-----------------------------------------------------|
| | | |
| NUMBER OF | 7 | SOLE VOTING POWER |
| | | |
| SHARES | | 1,344,418 |
| |-----|-----------------------------------------------------|
| BENEFICIALLY | | |
| | 8 | SHARED VOTING POWER |
| OWNED BY EACH | | |
| |-----|-----------------------------------------------------|
| REPORTING | | |
| | 9 | SOLE DISPOSITIVE POWER |
| PERSON | | |
| | | 1,344,418 |
| WITH |-----|-----------------------------------------------------|
| | | |
| | 10 | SHARED DISPOSITIVE POWER |
| | | |
|----------------------------------------------------------------------------|
| | |
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON |
| | |
| | 1,344,418 |
| | |
|---------|------------------------------------------------------------------|
| | |
| 12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) |
| | EXCLUDES CERTAIN SHARES* [ ] |
| | |
|---------|------------------------------------------------------------------|
| | |
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) |
| | |
| | 9.13% |
|---------|------------------------------------------------------------------|
| | |
| 14 | TYPE OF REPORTING PERSON * |
| | |
| | CO |
|----------------------------------------------------------------------------|
* SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
|-----------------------| |--------------------------|
|CUSIP Nos. 793897109 | | Page 4 of 13 Pages |
|-----------------------| |--------------------------|
|----------------------------------------------------------------------------|
| | |
| 1 | NAME OF REPORTING PERSON |
| | S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON |
| | |
| | The Galileo Fund, L.P. |
| | 04-3258283 |
|---------|------------------------------------------------------------------|
| | |
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]|
| | SEE ITEM #5 (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 |
| | |
| | COMMONWEALTH OF MASSACHUSETTS |
| | |
|----------------|-----|-----------------------------------------------------|
| | | |
| NUMBER OF | 7 | SOLE VOTING POWER |
| | | |
| SHARES | | 24,400 |
| |-----|-----------------------------------------------------|
| BENEFICIALLY | | |
| | 8 | SHARED VOTING POWER |
| OWNED BY EACH | | |
| |-----|-----------------------------------------------------|
| REPORTING | | |
| | 9 | SOLE DISPOSITIVE POWER |
| PERSON | | |
| | | 24,400 |
| WITH |-----|-----------------------------------------------------|
| | | |
| | 10 | SHARED DISPOSITIVE POWER |
| | | |
|----------------------------------------------------------------------------|
| | |
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON |
| | |
| | 24,400 |
| | |
|---------|------------------------------------------------------------------|
| | |
| 12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) |
| | EXCLUDES CERTAIN SHARES* [ ] |
| | |
|---------|------------------------------------------------------------------|
| | |
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) |
| | |
| | 0.17% |
|---------|------------------------------------------------------------------|
| | |
| 14 | TYPE OF REPORTING PERSON * |
| | |
| | PN |
|----------------------------------------------------------------------------|
* SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
|-----------------------| |--------------------------|
|CUSIP Nos. 793897109 | | Page 5 of 13 Pages |
|-----------------------| |--------------------------|
|----------------------------------------------------------------------------|
| | |
| 1 | NAME OF REPORTING PERSON |
| | S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON |
| | |
| | DDJ Galileo, LLC |
| | 04-3304422 |
|---------|------------------------------------------------------------------|
| | |
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]|
| | SEE ITEM #5 (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 |
| | |
| | COMMONWEALTH OF MASSACHUSETTS |
| | |
|----------------|-----|-----------------------------------------------------|
| | | |
| NUMBER OF | 7 | SOLE VOTING POWER |
| | | |
| SHARES | | 1,368,818 |
| |-----|-----------------------------------------------------|
| BENEFICIALLY | | |
| | 8 | SHARED VOTING POWER |
| OWNED BY EACH | | |
| |-----|-----------------------------------------------------|
| REPORTING | | |
| | 9 | SOLE DISPOSITIVE POWER |
| PERSON | | |
| | | 1,368,818 |
| WITH |-----|-----------------------------------------------------|
| | | |
| | 10 | SHARED DISPOSITIVE POWER |
| | | |
|----------------------------------------------------------------------------|
| | |
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON |
| | |
| | 1,368,818 |
| | |
|---------|------------------------------------------------------------------|
| | |
| 12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) |
| | EXCLUDES CERTAIN SHARES* [ ] |
| | |
|---------|------------------------------------------------------------------|
| | |
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) |
| | |
| | 9.29% |
|---------|------------------------------------------------------------------|
| | |
| 14 | TYPE OF REPORTING PERSON * |
| | |
| | 00 |
|----------------------------------------------------------------------------|
* SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
|-----------------------| |--------------------------|
|CUSIP Nos. 793897109 | | Page 6 of 13 Pages |
|-----------------------| |--------------------------|
|----------------------------------------------------------------------------|
| | |
| 1 | NAME OF REPORTING PERSON |
| | S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON |
| | |
| | The Copernicus Fund, L.P. |
| | 04-3193825 |
|---------|------------------------------------------------------------------|
| | |
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]|
| | SEE ITEM #5 (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 |
| | |
| | COMMONWEALTH OF MASSACHUSETTS |
| | |
|----------------|-----|-----------------------------------------------------|
| | | |
| NUMBER OF | 7 | SOLE VOTING POWER |
| | | |
| SHARES | | 331,742 |
| |-----|-----------------------------------------------------|
| BENEFICIALLY | | |
| | 8 | SHARED VOTING POWER |
| OWNED BY EACH | | |
| |-----|-----------------------------------------------------|
| REPORTING | | |
| | 9 | SOLE DISPOSITIVE POWER |
| PERSON | | |
| | | 331,742 |
| WITH |-----|-----------------------------------------------------|
| | | |
| | 10 | SHARED DISPOSITIVE POWER |
| | | |
|----------------------------------------------------------------------------|
| | |
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON |
| | |
| | 331,742 |
| | |
|---------|------------------------------------------------------------------|
| | |
| 12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) |
| | EXCLUDES CERTAIN SHARES* [ ] |
| | |
|---------|------------------------------------------------------------------|
| | |
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) |
| | |
| | 2.25% |
|---------|------------------------------------------------------------------|
| | |
| 14 | TYPE OF REPORTING PERSON * |
| | |
| | PN |
|----------------------------------------------------------------------------|
* SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
|-----------------------| |--------------------------|
|CUSIP Nos. 793897109 | | Page 7 of 13 Pages |
|-----------------------| |--------------------------|
|----------------------------------------------------------------------------|
| | |
| 1 | NAME OF REPORTING PERSON |
| | S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON |
| | |
| | DDJ Copernicus, LLC |
| | 04-3304417 |
|---------|------------------------------------------------------------------|
| | |
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]|
| | SEE ITEM #5 (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 |
| | |
| | COMMONWEALTH OF MASSACHUSETTS |
| | |
|----------------|-----|-----------------------------------------------------|
| | | |
| NUMBER OF | 7 | SOLE VOTING POWER |
| | | |
| SHARES | | 331,742 |
| |-----|-----------------------------------------------------|
| BENEFICIALLY | | |
| | 8 | SHARED VOTING POWER |
| OWNED BY EACH | | |
| |-----|-----------------------------------------------------|
| REPORTING | | |
| | 9 | SOLE DISPOSITIVE POWER |
| PERSON | | |
| | | 331,742 |
| WITH |-----|-----------------------------------------------------|
| | | |
| | 10 | SHARED DISPOSITIVE POWER |
| | | |
|----------------------------------------------------------------------------|
| | |
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON |
| | |
| | 331,742 |
| | |
|---------|------------------------------------------------------------------|
| | |
| 12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) |
| | EXCLUDES CERTAIN SHARES* [ ] |
| | |
|---------|------------------------------------------------------------------|
| | |
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) |
| | |
| | 2.25% |
|---------|------------------------------------------------------------------|
| | |
| 14 | TYPE OF REPORTING PERSON * |
| | |
| | 00 |
|----------------------------------------------------------------------------|
* SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
|-----------------------| |--------------------------|
|CUSIP Nos. 793897109 | | Page 8 of 13 Pages |
|-----------------------| |--------------------------|
|----------------------------------------------------------------------------|
| | |
| 1 | NAME OF REPORTING PERSON |
| | S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON |
| | |
| | Kepler Overseas Corp. |
| | |
|---------|------------------------------------------------------------------|
| | |
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]|
| | SEE ITEM #5 (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 |
| | |
| | COMMONWEALTH OF MASSACHUSETTS |
| | |
|----------------|-----|-----------------------------------------------------|
| | | |
| NUMBER OF | 7 | SOLE VOTING POWER |
| | | |
| SHARES | | 54,270 |
| |-----|-----------------------------------------------------|
| BENEFICIALLY | | |
| | 8 | SHARED VOTING POWER |
| OWNED BY EACH | | |
| |-----|-----------------------------------------------------|
| REPORTING | | |
| | 9 | SOLE DISPOSITIVE POWER |
| PERSON | | |
| | | 54,270 |
| WITH |-----|-----------------------------------------------------|
| | | |
| | 10 | SHARED DISPOSITIVE POWER |
| | | |
|----------------------------------------------------------------------------|
| | |
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON |
| | |
| | 54,270 |
| | |
|---------|------------------------------------------------------------------|
| | |
| 12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) |
| | EXCLUDES CERTAIN SHARES* [ ] |
| | |
|---------|------------------------------------------------------------------|
| | |
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) |
| | |
| | .37% |
|---------|------------------------------------------------------------------|
| | |
| 14 | TYPE OF REPORTING PERSON * |
| | |
| | CO |
|----------------------------------------------------------------------------|
* SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
CUSIP No. 793897109 Page 9 of 13 Pages
- ------------------- -------------------
This Amendment No. 4 to Schedule 13D ("Amendment No. 3") should be read in
conjunction with the Schedule 13D (the "Schedule 13D"), dated July 11, 1996;
Amendment No. 1 to Schedule 13D dated September 30, 1996 ("Amendment No. 1");
Amendment No. 2 to Schedule 13D dated October 17, 1996 ("Admendment No.2");
and Amendment No. 3 to Schedule 13D dated November 4, 1996 and
filed with the Securities and Exchange Commission by DDJ Capital Management,
LLC., a Massachusetts limited liability company ("DDJ"), and certain affiliates
relating to the common stock, par value $1.00 per share (the "Common Stock" or
the "Shares"), of Salant Corporation, a Delaware Corporation, (the "Issuer" or
the "Company"). This Amendment No. 4 amends the Schedule 13D, Amendment No. 1,
Amendment No. 2 and Amendment No. 3 only with respect to those items listed
below. All capitalized terms not otherwise defined herein shall have the
meanings ascribed thereto on the Schedule 13D, Amendment No. 1, Amendment No. 2
or Amendment No. 3.
The filing of this Amendment No. 4 is not, and should not be deemed to be,
an admission that the Schedule 13D or any Amendment thereto is required to be
filed.
Item 2. Identity and Background:
Item 2 is deleted in its entirety and amended as follows:
This statement is being filed jointly by DDJ Capital Management, LLC
("DDJ"), a Massachusetts limited liability company, DDJ Overseas Corp., a Cayman
Islands corporation, DDJ Galileo, LLC, a Massachusetts limited liability
company, The Copernicus Fund, L.P., a Massachusetts limited partnership, DDJ
Copernicus, LLC, a Massachusetts limited liability company, The Galileo Fund,
L.P., a Delaware limited partnership and Kepler Overseas Corp., a Cayman Islands
corporation. Each of the aforementioned entities shall be collectively referred
to as the "DDJ Affiliates". DDJ Copernicus, LLC is the general partner of, and
DDJ (as a result of the merger of DDJ Copernicus Management, LLC with and into
DDJ) is the investment manager for, The Copernicus Fund, L.P. DDJ Galileo, LLC
owns all of the voting securities of, and DDJ (as a result of the merger of DDJ
Galileo Management, LLC with and into DDJ) is the investment manager for, DDJ
Overseas Corp. DDJ Galileo is the general partner of, and DDJ (as a result of
the merger of DDJ Galileo Management, LLC with and into DDJ) is the investment
manager for, The Galileo Fund, L.P.; DDJ is also the investment manager for
Kepler Overseas Corp., a Cayman Islands corporation, and Crocodile I, LLC, a
Cayman Islands limited liability company (the "Advisory Account"). The
principal office of each of DDJ and the DDJ Affiliates, with the exception of
DDJ Overseas Corp. and Kepler Overseas Corp., are located at 141 Linden Street,
Suite 4, Wellesley, Massachusetts 02181. The principal office of DDJ Overseas
Corp. and Kepler Overseas Corp. is: c/o Goldman Sachs (Cayman), Harbor Center,
George Town, Post Office Box 896, Grand Cayman Islands.
The name, residence, or business address, principal occupation or
employment and citizenship of each of the executive officers and members of DDJ
and each of the DDJ Affiliates are set forth on Schedule A hereto.
Within the past five years, none of the DDJ Affiliates or the persons
listed on Schedule A has been convicted in any criminal proceeding (excluding
traffic violations or similar misdemeanors) or has been a party to any civil
proceeding and as a result thereof was or is subject to any judgment, decree or
final order enjoining future violations of, or prohibiting or mandating
activities subject to federal or state securities laws or finding any violations
with respect to such laws.
The shares to which this statement relates are owned by either The
Copernicus Fund, L.P., The Galileo Fund, L.P., DDJ Overseas Corp., Kepler
Overseas Corp. (collectively, the "Funds") or the Advisory Account.
Item 3. Sources and Amount of Funds or Other Consideration:
Item 3 is deleted in its entirety and amended as follows:
The Funds which owns or owned Shares purchased in the aggregate 1,809,100
Shares for cash in the amount of approximately $7,204,276.64 including brokerage
commissions. All of the 331,742 Shares of common stock now owned by The
Copernicus Fund, L.P. were purchased for cash or on margin pursuant to a typical
customer margin agreement with Goldman Sachs & Co.; and all of the 1,344,418
Shares now owned by DDJ Overseas Corp. were purchased for cash or on margin
pursuant to a typical customer margin agreement with Goldman Sachs & Co.; all of
the 24,400 Shares now owned by The Galileo Fund, L.P. were purchased for cash,
and all of the 54,270 Shares now owned by Kepler Corporation were purchased for
cash or on margin pursuant to a typical customer margin agreement with Goldman
Sachs & Co.
During the period from December 13, 1996, to the date hereof, the Funds
and/or Advisory Account have purchased 448,600 Shares. The attached Schedule B
sets forth Shares purchased and/or sold by the Funds and/or Advisory Account
since December 13, 1996.
<PAGE>
SCHEDULE 13D
CUSIP No. 793897109 Page 10 of 13 Pages
- ------------------- -------------------
Item 5. Interest in Securities of Issuer:
Paragraphs (a) of Item 5 is amended as follows:
(a) DDJ Overseas Corp. owns, and DDJ Galileo, LLC and DDJ beneficially own
as majority shareholder and investment manager, respectively, of DDJ Overseas
Corp., 1,344,418 Shares, or approximately 9.13% of the outstanding Shares of the
Company. The Copernicus Fund, L.P. owns, and DDJ Copernicus, LLC and DDJ
beneficially own, as general partner and investment manager, respectively, of
The Copernicus Fund, L.P., 331,742 Shares, or approximately 2.25% of the
outstanding Shares of the Company. The Galileo Fund, L.P. owns, and DDJ Galileo,
LLC and DDJ beneficially own as the general partner and investment manager,
respectively, of The Galileo Fund, L.P., 24,400 Shares or approximately .17% of
the Company. Kepler Overseas Corp. owns, and DDJ Capital Management, LLC, as
investment manager for Kepler Overseas Corp. beneficially owns, 54,270 Shares or
approximately .37% of the Company. DDJ, as investment manager to the Funds and
the Advisory Account may be deemed to beneficially own 1,809,100 Shares, or
approximately 12.28% of the outstanding Shares of the Company. Judy K. Mencher,
a Member of DDJ, DDJ Galileo, LLC, DDJ Copernicus, LLC, and DDJ Capital
Management, LLC, a Director of Kepler Overseas Corp. and Vice President of DDJ
Overseas Corp. beneficially owns 3,000 Shares representing .02%. She has sole
power to vote and to dispose of 1,500 Shares; and both she and the beneficiary
of the account each have sole power to vote and to dispose of 1,500 Shares.
Neither DDJ nor any of the DDJ Affiliates and, to the best of knowledge of DDJ
and the DDJ Affiliates, with the exception of Ms. Mencher, none of the persons
named in Schedule A, beneficially own any other Shares.
<PAGE>
SCHEDULE 13D
CUSIP No. 793897109 Page 11 of 13 Pages
- ------------------- -------------------
SCHEDULE A
The name and present principal occupation or employment of each executive
officer and member of DDJ Capital Management, LLC and each of the DDJ Affiliates
are set forth below. The business address of each person is 141 Linden Street,
Suite 4, Wellesley, MA 02181 and the address of the corporation or organization
in which such employment is conducted is the same as each person's business
address, except that the business address of DDJ Overseas Corp. and Kepler
Overseas Corp. is set forth in Item 2. All of the persons listed below are U.S.
citizens.
NAME PRINCIPAL OCCUPATION OR EMPLOYMENT
Daniel G. Harmetz Principal of DDJ Capital Management, LLC, DDJ Galileo,
LLC, and DDJ Copernicus, LLC.
David J. Breazzano Principal of DDJ Capital Management, LLC, DDJ Galileo,
LLC, and DDJ Copernicus, LLC.
Judy K. Mencher Principal of DDJ Capital Management, LLC, DDJ Galileo,
LLC, DDJ Copernicus, LLC, Vice President of DDJ
Overseas Corp. and Director of Kepler Overseas Corp.
<PAGE>
SCHEDULE 13D
CUSIP No. 793897109 Page 12 of 13 Pages
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SCHEDULE B
Salant Corporation
Set forth below is an itemization of all purchases and sales of Shares of
Common Stock since December 13, 1996. The transactions were made for cash in
open market transactions.
DATE TYPE-PURCHASE SHARES AGGREGATE
OR SALE PRICE
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12/20/96 Purchase 5,000 $16,775.00
12/24/96 Purchase 6,000 $19,680.00
12/27/96 Purchase 2,500 $8,200.00
12/30/96 Purchase 13,900 $43,854.50
12/31/96 Purchase 18,700 $58,998.50
1/2/97 Purchase 3,000 $9,840.00
1/6/97 Purchase 2,500 $8,200.00
1/8/97 Purchase 1,500 $4,920.00
1/9/97 Purchase 5,000 $16,712.00
1/29/97 Sale 5,000 $15,474.47
2/11/97 Purchase 395,500 $1,552,535.26
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SCHEDULE 13D
CUSIP No. 793897109 Page 13 of 13 Pages
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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.
DDJ CAPITAL MANAGEMENT, LLC
By: /s/ Judy K. Mencher
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Judy K. Mencher
Member
