SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D. C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
TASTY BAKING COMPANY
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(NAME OF ISSUER)
COMMON STOCK
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(TITLE OF CLASS OF SECURITIES)
876553306
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(CUSIP NUMBER OF CLASS OF SECURITIES)
Wynnefield Partners Small Cap Value, L.P.
One Penn Plaza - Suite 4720
New York, New York 10119
ATTENTION: MR. NELSON OBUS
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(NAME, ADDRESS AND TELEPHONE NUMBER OF PERSON AUTHORIZED)
TO RECEIVE NOTICES AND COMMUNICATIONS)
COPY TO:
Steven F. Wasserman, Esq.
Berlack, Israels & Liberman LLP
120 West 45th Street
New York, New York 10035
(212) 704-0100
JANUARY 4, 2000
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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: ( )
(Page 1 of 10 Pages)
<PAGE>
SCHEDULE 13D
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CUSIP NO. 31865 W 108 PAGE 2 OF 10 PAGES
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1 NAME OF REPORTING PERSON: WYNNEFIELD PARTNERS SMALL CAP VALUE, L.P.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: 13-3688497
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X|
(b) |_|
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
WC (SEE ITEM 3)
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS (2)(d) OR (e) |_|
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6 CITIZENSHIP OR PLACE OR ORGANIZATION
DELAWARE
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7 SOLE VOTING POWER
NUMBER OF
SHARES BENEFICIALLY 137,590
OWNED BY -----------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING
PERSON 0
WITH -----------------------------------------
9 SOLE DISPOSITIVE POWER
137,590
-----------------------------------------
10 SHARED DISPOSITIVE POWER
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
137,590 shares
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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)
1.75%
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14 TYPE OF REPORTING PERSON
PN
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(Page 2 of 10 Pages)
<PAGE>
SCHEDULE 13D
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CUSIP NO. 31865 W 108 PAGE 3 OF 10 PAGES
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1 NAME OF REPORTING PERSON: WYNNEFIELD SMALL CAP VALUE
OFFSHORE FUND, LTD.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: NOT APPLICABLE
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X|
(b) |_|
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
WC (SEE ITEM 3)
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS (2)(d) OR (e) |_|
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6 CITIZENSHIP OR PLACE OR ORGANIZATION
CAYMAN ISLANDS
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7 SOLE VOTING POWER
NUMBER OF
SHARES BENEFICIALLY 74,750
OWNED BY -----------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING
PERSON 0
WITH -----------------------------------------
9 SOLE DISPOSITIVE POWER
74,750
-----------------------------------------
10 SHARED DISPOSITIVE POWER
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
74,750 shares
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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)
.95%
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14 TYPE OF REPORTING PERSON
CO
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(Page 3 of 10 Pages)
<PAGE>
SCHEDULE 13D
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CUSIP NO. 31865 W 108 PAGE 4 OF 10 PAGES
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1 NAME OF REPORTING PERSON: WYNNEFIELD SMALL CAP VALUE L.P. I
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: 13-3953291
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |X|
(b) |_|
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
WC (SEE ITEM 3)
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS (2)(d) OR (e) |_|
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6 CITIZENSHIP OR PLACE OR ORGANIZATION
DELAWARE
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7 SOLE VOTING POWER
NUMBER OF
SHARES BENEFICIALLY 185,721
OWNED BY -----------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING
PERSON 0
WITH -----------------------------------------
9 SOLE DISPOSITIVE POWER
185,721
-----------------------------------------
10 SHARED DISPOSITIVE POWER
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
185,721 shares
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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)
2.37%
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14 TYPE OF REPORTING PERSON
PN
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(Page 4 of 10 Pages)
<PAGE>
ITEM 1. SECURITY AND ISSUER.
This Statement relates to shares of the Common Stock, (the "Shares"),
of Tasty Baking Company, a Pennsylvania corporation (the "Issuer"). The
principal executive offices of the Issuer are located at 2801 Hunting Park
Avenue, Philadelphia, PA 19129.
ITEM 2. IDENTITY AND BACKGROUND.
(a), (b), (c) and (f). This Statement is being filed by Wynnefield
Partners Small Cap Value, L.P. (the "Partnership"), Wynnefield Small Cap Value
Offshore Fund, Ltd. (the "Fund"), and Wynnefield Small Cap Value, L.P. I (the
"Partnership-I"). The Partnership, the Fund and Partnership-I are sometimes
referred to collectively as the "Wynnefield Group".
The general partners of the Partnership and the Partnership-I, private
investment companies organized as limited partnerships under the laws of the
State of Delaware, are Nelson Obus and Joshua Landes. Mr. Obus and Mr. Landes
are principal executive officers of Wynnefield Capital, Inc., the investment
manager of the Fund, a private investment company organized under the laws of
the Cayman Islands. Mr. Obus and Mr. Landes are citizens of the United States of
America.
The business address of Mr. Obus and Mr. Landes and each of the
entities in the Wynnefield Group is One Penn Plaza, Suite 4720, New York, New
York 10119.
(d) and (e). During the last five years, neither Mr. Obus, Mr. Landes
nor any of the entities comprising the Wynnefield Group has been (i) convicted
in a criminal proceeding (excluding traffic violations or similar misdemeanors)
or (ii) a party to a civil proceeding of a judicial or administrative body of
competent jurisdiction and as a result of such proceeding was or is 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.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
The Wynnefield Group entities purchased their Shares for the
consideration shown in the following table:
NAME NUMBER OF SHARES CONSIDERATION PAID
---- ---------------- ------------------
Partnership 137,590 $1,593,051
Partnership-I 185,721 2,159,283
Fund 74,750 897,048
Such Shares were paid for from the working capital of each entity in
the Wynnefield Group, each of which maintains an investment fund, consisting of
capital contributions from their respective partners and investors and capital
appreciation derived therefrom for the principal purpose of buying and selling
securities (including financial and money market instruments) and interests in
domestic and foreign securities, including, without limitation, convertible
securities, stock index features contracts, options, puts and calls on stock and
warrants.
(Page 5 of 10 Pages)
<PAGE>
ITEM 4. PURPOSES OF TRANSACTION.
The Wynnefield Group acquired the Shares reported in Item 5 below for
investment purposes. If the Wynnefield Group determines that the ownership of
the Issuer's securities represent an attractive investment opportunity, they or
any of them reserve the right to buy additional Shares with the understanding
that neither such purchases nor the exercise of their rights as stockholders is
intended as a "control" device with respect to the Issuer.
Except as set forth above, the Wynnefield Group has no present plans or
intentions that would result in or relate to any of the transactions described
in subparagraphs (a) through (j) of Item 4 of Schedule 13D.
ITEM 5. INTERESTS IN SECURITIES OF THE ISSUER.
(a) As of the close of business on the date hereof, the Wynnefield
Group beneficially owned a total of 398,061 Shares, the separate ownership of
which is set forth in Item 3 of this Statement. Mr. Obus and Mr. Landes, by
virtue of their status as general partners of the Partnership and Partnership-I
and Mr. Obus and Mr. Landes as officers of the Fund's investment manager may be
deemed to have indirect beneficial ownership of the Shares owned by the
Wynnefield Group. The Shares owned by the Wynnefield Group represent
approximately 5.09% of the outstanding Shares of the Issuer, based on the
7,822,000 Shares reported as outstanding on November 5, 1999 in the Issuer's
Quarterly Report on Form 10-Q for the three months then ended.
Pursuant to Rule 13d-4 of the General Rules and Regulations under the
Securities and Exchange Act of 1934, as amended (the "Exchange Act"), Mr. Obus
and Mr. Landes disclaim beneficial ownership of any Shares owned by the entities
comprising the Wynnefield Group and disclaim membership in the Wynnefield Group
with respect to the Shares for purposes of Sections 13(d) and 13(g) of the
Exchange Act or for any other purpose under any other provision of the Exchange
Act or the rules and regulations promulgated thereunder.
(b) Mr. Obus and Mr. Landes, by virtue of their status as general
partners of the Partnership and Partnership-I, and Mr. Obus and Mr. Landes as
officers of the Fund's investment manager, have the power to vote or to direct
the vote and the power to dispose and to direct the disposition of the 398,061
Shares owned by the entities comprising the Wynnefield Group.
(Page 6 of 10 Pages)
<PAGE>
(c) During the past 60 days, the entities in the Wynnefield Group made
the following purchases of shares in the over-the-counter market:
NUMBER PRICE
NAME DATE OF SHARES PER SHARE
---- ---- --------- ---------
Partnership 7/9/99 1,720 15.2840
Partnership 9/10/98 800 14.5700
Partnership 9/11/98 500 14.5516
Partnership 9/11/98 1,100 14.5517
Partnership 10/5/98 200 14.3200
Partnership 12/31/98 6,000 14.6438
Partnership 1/6/99 3,000 14.6678
Partnership 1/8/99 8,000 14.5250
Partnership 1/14/99 7,000 14.1021
Partnership 1/21/99 3,300 13.1855
Partnership 1/22/99 2,000 13.3325
Partnership 1/26/99 1,000 13.5850
Partnership 1/27/99 2,000 13.5725
Partnership 2/1/99 1,300 13.1628
Partnership 2/3/99 6,500 13.3238
Partnership 3/18/99 4,000 12.2575
Partnership 3/29/99 1,500 11.9722
Partnership 4/22/99 7,000 11.8950
Partnership 7/29/99 13,200 11.6950
Partnership 8/6/99 100 11.2475
Partnership 9/10/99 3,600 11.0700
Partnership 9/17/99 3,100 11.0700
Partnership 9/21/99 3,600 10.8825
Partnership 9/24/99 1,570 10.3725
Partnership 10/14/99 6,800 10.5536
Partnership 10/29/99 5,400 10.2783
Partnership 11/2/99 8,900 10.1950
Partnership 11/11/99 1,200 9.8725
Partnership 11/17/99 3,600 9.9450
Partnership 11/22/99 1,800 9.6750
Partnership 11/30/99 200 9.4350
Partnership 12/1/99 2,000 9.7077
Partnership 12/2/99 1,800 9.3100
Partnership 12/3/99 3,600 9.6225
Partnership 12/6/99 1,800 9.6850
Partnership 12/8/99 2,100 9.3200
Partnership 12/13/99 1,700 9.0600
Partnership 12/14/99 2,700 8.9342
Partnership 12/15/99 1,800 8.9975
Partnership 12/20/99 1,800 8.6850
Partnership 12/21/99 1,100 8.5600
Partnership 12/29/99 3,600 8.3050
Partnership 1/4/00 3,600 8.3750
(Page 7 of 10 Pages)
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NUMBER PRICE
NAME DATE OF SHARES PER SHARE
---- ---- --------- ---------
Partnership-I 7/9/98 11,280 15.2862
Partnership-I 9/10/98 800 14.6012
Partnership-I 9/11/98 1,600 14.5516
Partnership-I 9/14/98 1,900 14.5831
Partnership-I 9/15/98 500 14.6200
Partnership-I 10/8/98 200 14.2575
Partnership-I 10/8/98 1,600 14.3356
Partnership-I 10/8/98 2,400 14.1429
Partnership-I 12/31/98 7,100 14.6438
Partnership-I 1/6/99 3,000 14.6678
Partnership-I 1/8/99 500 14.5250
Partnership-I 1/8/99 8,000 14.3638
Partnership-I 1/14/99 3,000 14.1021
Partnership-I 1/22/99 2,000 13.3325
Partnership-I 1/26/99 1,000 13.5850
Partnership-I 1/27/99 2,000 13.5725
Partnership-I 2/1/99 1,400 13.1628
Partnership-I 2/3/99 6,500 13.3238
Partnership-I 3/18/99 4,700 12.2575
Partnership-I 3/29/99 1,700 11.9722
Partnership-I 4/22/99 9,000 11.8950
Partnership-I 7/13/99 8,000 11.8781
Partnership-I 7/29/99 17,500 11.6950
Partnership-I 9/10/99 4,700 11.0700
Partnership-I 9/17/99 4,100 11.0700
Partnership-I 9/21/99 4,700 10.8825
Partnership-I 9/24/99 2,080 10.3725
Partnership-I 10/14/99 9,000 10.5536
Partnership-I 10/15/99 1,661 10.3825
Partnership-I 10/29/99 7,100 10.2783
Partnership-I 11/2/99 11,800 10.1950
Partnership-I 11/11/99 1,600 9.8725
Partnership-I 11/17/99 4,700 9.9450
Partnership-I 11/22/99 2,300 9.6750
Partnership-I 11/30/99 200 9.4350
Partnership-I 12/1/99 2,600 9.7077
Partnership-I 12/2/99 2,300 9.3100
Partnership-I 12/3/99 4,700 9.6225
Partnership-I 12/6/99 2,300 9.6850
Partnership-I 12/8/99 2,900 9.3200
Partnership-I 12/13/99 2,400 9.0600
Partnership-I 12/14/99 3,500 8.9342
Partnership-I 12/15/99 2,300 8.9975
Partnership-I 12/20/99 2,300 8.6850
Partnership-I 12/21/99 1,400 8.5600
Partnership-I 12/29/99 4,700 8.3050
Partnership-I 1/4/00 4,700 8.3750
(Page 8 of 10 Pages)
<PAGE>
NUMBER PRICE
NAME DATE OF SHARES PER SHARE
---- ---- --------- ---------
Fund 7/9/98 6,000 15.2862
Fund 8/6/98 5,600 14.5600
Fund 9/10/98 300 14.6012
Fund 9/11/98 800 14.5516
Fund 9/22/98 1,700 14.5700
Fund 10/6/98 600 14.3200
Fund 12/31/98 2,000 14.6438
Fund 1/6/99 2,600 14.6678
Fund 1/8/99 4,000 14.5250
Fund 1/22/99 1,000 13.3325
Fund 1/27/99 1,000 13.5725
Fund 2/1/99 500 13.1628
Fund 2/3/99 3,000 13.3238
Fund 3/18/99 2,000 12.2575
Fund 3/29/99 1,000 11.9722
Fund 4/22/99 4,000 11.8950
Fund 7/29/99 6,300 11.6950
Fund 9/10/99 1,700 11.0700
Fund 9/17/99 1,500 11.0700
Fund 9/21/99 1,700 10.8825
Fund 9/24/99 750 10.3725
Fund 10/14/99 3,200 10.5536
Fund 10/29/99 2,500 10.2783
Fund 11/2/99 4,300 10.1950
Fund 11/11/99 800 9.8725
Fund 11/17/99 1,700 9.9450
Fund 11/22/99 900 9.6750
Fund 12/1/99 900 9.7077
Fund 12/2/99 900 9.3100
Fund 12/3/99 1,700 9.6225
Fund 12/6/99 900 9.6850
Fund 12/8/99 1,000 9.3200
Fund 12/13/99 900 9.0600
Fund 12/14/99 1,300 8.9342
Fund 12/15/99 900 8.9975
Fund 12/20/99 900 8.6850
Fund 12/21/99 500 8.5600
Fund 12/29/99 1,700 8.3050
Fund 1/4/00 1,700 8.3750
(d) Each of the entities comprising the Wynnefield Group as owners of
the Shares covered by this Statement has the right to receive or the power to
direct the receipt of dividends from, or the proceeds from the sale of, the
Shares covered by this Statement.
(e) Not applicable.
(Page 9 of 10 Pages)
<PAGE>
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
TO SECURITIES OF THE ISSUER.
Neither Mr. Obus, Mr. Landes nor any of the entities comprising the
Wynnefield Group has any contracts, arrangements, understandings or
relationships (legal or otherwise) with any person with respect to any
securities of the Issuer, including but not limited to any contracts,
arrangements, understandings or relationships concerning the transfer or voting
of such securities, finder's fees, joint ventures, loan or option arrangements,
puts or calls, guarantees of profits, division of profits or losses, or the
giving or withholding of proxies.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
Not applicable.
SIGNATURE
After reasonable inquiry and to the best of their knowledge and belief,
the undersigned certify that the information set forth in this Statement is
true, complete and correct.
Dated: January 20, 2000
WYNNEFIELD PARTNERS SMALL CAP VALUE, L.P.
WYNNEFIELD PARTNERS SMALL CAP VALUE, L.P. I
By: /s/ NELSON OBUS
----------------------------
Nelson Obus, General Partner
WYNNEFIELD SMALL CAP VALUE OFFSHORE FUND, LTD.
By: Wynnefield Capital, Inc.
By: /s/ NELSON OBUS
----------------------------
Nelson Obus, President
(Page 10 of 10 Pages)
