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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. _________)*
Town Sports International Holdings, Inc.
--------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, par value $0.001 per share
--------------------------------------------------------------------------------
(Title of Class of Securities)
89214A102
--------------------------------------------------------------------------------
(CUSIP Number)
Mark C. Wehrly
Farallon Capital Management, L.L.C.
One Maritime Plaza, Suite 1325
San Francisco, California 94111
(415) 421-2132
--------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
June 7, 2006
--------------------------------------------------------------------------------
(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 that is the subject of this Schedule 13D, and is filing this
schedule because of Sections 240.13d-1(e), 13d-1(f) or 240.13d-1(g), check the
following box [ ].
Note: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See Section 240.13d-7 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).
(Continued on following pages)
Page 1 of 38 Pages
Exhibit Index Found on Page 37
13D
===================
CUSIP No. 89214A102
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Farallon Capital Partners, L.P.
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing hold an
aggregate of 5,331,279 Shares, which is 20.5% of the
class of securities. The reporting person on this
cover page, however, is a beneficial owner only of
the securities reported by it on this cover page.
------------====================================================================
3 SEC USE ONLY
------------====================================================================
SOURCE OF FUNDS (See Instructions)
4
WC, OO
------------====================================================================
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
5 TO ITEMS 2(d) OR 2(e)
[ ]
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
6
California
------------====================================================================
SOLE VOTING POWER
7
NUMBER OF -0-
------------=============================================
SHARES SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 1,861,348
------------=============================================
EACH SOLE DISPOSITIVE POWER
9
REPORTING -0-
PERSON WITH ------------=============================================
SHARED DISPOSITIVE POWER
10
1,861,348
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
1,861,348
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
12 CERTAIN SHARES (See Instructions)
[ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
7.2%
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
14
PN
------------====================================================================
Page 2 of 38 Pages
13D
===================
CUSIP No. 89214A102
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Farallon Capital Institutional Partners, L.P.
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing hold an
aggregate of 5,331,279 Shares, which is 20.5% of the
class of securities. The reporting person on this
cover page, however, is a beneficial owner only of
the securities reported by it on this cover page.
------------====================================================================
3 SEC USE ONLY
------------====================================================================
SOURCE OF FUNDS (See Instructions)
4
WC
------------====================================================================
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
5 TO ITEMS 2(d) OR 2(e)
[ ]
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
6
California
------------====================================================================
SOLE VOTING POWER
7
NUMBER OF -0-
------------=============================================
SHARES SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 2,099,112
------------=============================================
EACH SOLE DISPOSITIVE POWER
9
REPORTING -0-
PERSON WITH ------------=============================================
SHARED DISPOSITIVE POWER
10
2,099,112
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
2,099,112
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
12 CERTAIN SHARES (See Instructions)
[ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
8.1%
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
14
PN
------------====================================================================
Page 3 of 38 Pages
13D
===================
CUSIP No. 89214A102
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Farallon Capital Institutional Partners II, L.P.
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing hold an
aggregate of 5,331,279 Shares, which is 20.5% of the
class of securities. The reporting person on this
cover page, however, is a beneficial owner only of
the securities reported by it on this cover page.
------------====================================================================
3 SEC USE ONLY
------------====================================================================
SOURCE OF FUNDS (See Instructions)
4
WC
------------====================================================================
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
5 TO ITEMS 2(d) OR 2(e)
[ ]
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
6
California
------------====================================================================
SOLE VOTING POWER
7
NUMBER OF -0-
------------=============================================
SHARES SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 1,021,256
------------=============================================
EACH SOLE DISPOSITIVE POWER
9
REPORTING -0-
PERSON WITH ------------=============================================
SHARED DISPOSITIVE POWER
10
1,021,256
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
1,021,256
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
12 CERTAIN SHARES (See Instructions)
[ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
3.9%
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
14
PN
------------====================================================================
Page 4 of 38 Pages
13D
===================
CUSIP No. 89214A102
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Farallon Capital Institutional Partners III, L.P.
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing hold an
aggregate of 5,331,279 Shares, which is 20.5% of the
class of securities. The reporting person on this
cover page, however, is a beneficial owner only of
the securities reported by it on this cover page.
------------====================================================================
3 SEC USE ONLY
------------====================================================================
SOURCE OF FUNDS (See Instructions)
4
WC
------------====================================================================
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
5 TO ITEMS 2(d) OR 2(e)
[ ]
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
------------====================================================================
SOLE VOTING POWER
7
NUMBER OF -0-
------------=============================================
SHARES SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 2,500
------------=============================================
EACH SOLE DISPOSITIVE POWER
9
REPORTING -0-
PERSON WITH ------------=============================================
SHARED DISPOSITIVE POWER
10
2,500
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
2,500
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
12 CERTAIN SHARES (See Instructions)
[ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
0.0%
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
14
PN
------------====================================================================
Page 5 of 38 Pages
13D
===================
CUSIP No. 89214A102
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Tinicum Partners, L.P.
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing hold an
aggregate of 5,331,279 Shares, which is 20.5% of the
class of securities. The reporting person on this
cover page, however, is a beneficial owner only of
the securities reported by it on this cover page.
------------====================================================================
3 SEC USE ONLY
------------====================================================================
SOURCE OF FUNDS (See Instructions)
4
WC, OO
------------====================================================================
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
5 TO ITEMS 2(d) OR 2(e)
[ ]
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
6
New York
------------====================================================================
SOLE VOTING POWER
7
NUMBER OF -0-
------------=============================================
SHARES SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 2,500
------------=============================================
EACH SOLE DISPOSITIVE POWER
9
REPORTING -0-
PERSON WITH ------------=============================================
SHARED DISPOSITIVE POWER
10
2,500
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
2,500
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
12 CERTAIN SHARES (See Instructions)
[ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
0.0%
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
14
PN
------------====================================================================
Page 6 of 38 Pages
13D
===================
CUSIP No. 89214A102
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
RR Capital Partners, L.P.
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing hold an
aggregate of 5,331,279 Shares, which is 20.5% of the
class of securities. The reporting person on this
cover page, however, is a beneficial owner only of
the securities reported by it on this cover page.
------------====================================================================
3 SEC USE ONLY
------------====================================================================
SOURCE OF FUNDS (See Instructions)
4
WC, OO
------------====================================================================
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
5 TO ITEMS 2(d) OR 2(e)
[ ]
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
------------====================================================================
SOLE VOTING POWER
7
NUMBER OF -0-
------------=============================================
SHARES SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 254,063
------------=============================================
EACH SOLE DISPOSITIVE POWER
9
REPORTING -0-
PERSON WITH ------------=============================================
SHARED DISPOSITIVE POWER
10
254,063
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
254,063
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
12 CERTAIN SHARES (See Instructions)
[ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
1.0%
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
14
PN
------------====================================================================
Page 7 of 38 Pages
13D
===================
CUSIP No. 89214A102
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Farallon Capital Offshore Investors II, L.P.
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing hold an
aggregate of 5,331,279 Shares, which is 20.5% of the
class of securities. The reporting person on this
cover page, however, is a beneficial owner only of
the securities reported by it on this cover page.
------------====================================================================
3 SEC USE ONLY
------------====================================================================
SOURCE OF FUNDS (See Instructions)
4
WC, OO
------------====================================================================
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
5 TO ITEMS 2(d) OR 2(e)
[ ]
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Cayman Islands
------------====================================================================
SOLE VOTING POWER
7
NUMBER OF -0-
------------=============================================
SHARES SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 90,500
------------=============================================
EACH SOLE DISPOSITIVE POWER
9
REPORTING -0-
PERSON WITH ------------=============================================
SHARED DISPOSITIVE POWER
10
90,500
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
90,500
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
12 CERTAIN SHARES (See Instructions)
[ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
0.3%
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
14
PN
------------====================================================================
Page 8 of 38 Pages
13D
===================
CUSIP No. 89214A102
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Farallon Partners, L.L.C.
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing hold an
aggregate of 5,331,279 Shares, which is 20.5% of the
class of securities. The reporting person on this
cover page, however, may be deemed a beneficial owner
only of the securities reported by it on this cover
page.
------------====================================================================
3 SEC USE ONLY
------------====================================================================
SOURCE OF FUNDS (See Instructions)
4
AF
------------====================================================================
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
5 TO ITEMS 2(d) OR 2(e)
[ ]
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
------------====================================================================
SOLE VOTING POWER
7
NUMBER OF -0-
------------=============================================
SHARES SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 5,331,279
------------=============================================
EACH SOLE DISPOSITIVE POWER
9
REPORTING -0-
PERSON WITH ------------=============================================
SHARED DISPOSITIVE POWER
10
5,331,279
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
5,331,279
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
12 CERTAIN SHARES (See Instructions)
[ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
20.5%
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
14
OO
------------====================================================================
Page 9 of 38 Pages
13D
===================
CUSIP No. 89214A102
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Chun R. Ding
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing hold an
aggregate of 5,331,279 Shares, which is 20.5% of the
class of securities. The reporting person on this
cover page, however, may be deemed a beneficial owner
only of the securities reported by it on this cover
page.
------------====================================================================
3 SEC USE ONLY
------------====================================================================
SOURCE OF FUNDS (See Instructions)
4
AF, OO
------------====================================================================
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
5 TO ITEMS 2(d) OR 2(e)
[ ]
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
6
United States
------------====================================================================
SOLE VOTING POWER
7
NUMBER OF -0-
------------=============================================
SHARES SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 5,331,279
------------=============================================
EACH SOLE DISPOSITIVE POWER
9
REPORTING -0-
PERSON WITH ------------=============================================
SHARED DISPOSITIVE POWER
10
5,331,279
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
5,331,279
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
12 CERTAIN SHARES (See Instructions)
[ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
20.5%
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
14
IN
------------====================================================================
Page 10 of 38 Pages
13D
===================
CUSIP No. 89214A102
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
William F. Duhamel
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing hold an
aggregate of 5,331,279 Shares, which is 20.5% of the
class of securities. The reporting person on this
cover page, however, may be deemed a beneficial owner
only of the securities reported by it on this cover
page.
------------====================================================================
3 SEC USE ONLY
------------====================================================================
SOURCE OF FUNDS (See Instructions)
4
AF, OO
------------====================================================================
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
5 TO ITEMS 2(d) OR 2(e)
[ ]
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
6
United States
------------====================================================================
SOLE VOTING POWER
7
NUMBER OF -0-
------------=============================================
SHARES SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 5,331,279
------------=============================================
EACH SOLE DISPOSITIVE POWER
9
REPORTING -0-
PERSON WITH ------------=============================================
SHARED DISPOSITIVE POWER
10
5,331,279
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
5,331,279
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
12 CERTAIN SHARES (See Instructions)
[ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
20.5%
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
14
IN
------------====================================================================
Page 11 of 38 Pages
13D
===================
CUSIP No. 89214A102
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Richard B. Fried
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing hold an
aggregate of 5,331,279 Shares, which is 20.5% of the
class of securities. The reporting person on this
cover page, however, may be deemed a beneficial owner
only of the securities reported by it on this cover
page.
------------====================================================================
3 SEC USE ONLY
------------====================================================================
SOURCE OF FUNDS (See Instructions)
4
AF, OO
------------====================================================================
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
5 TO ITEMS 2(d) OR 2(e)
[ ]
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
6
United States
------------====================================================================
SOLE VOTING POWER
7
NUMBER OF -0-
------------=============================================
SHARES SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 5,331,279
------------=============================================
EACH SOLE DISPOSITIVE POWER
9
REPORTING -0-
PERSON WITH ------------=============================================
SHARED DISPOSITIVE POWER
10
5,331,279
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
5,331,279
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
12 CERTAIN SHARES (See Instructions)
[ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
20.5%
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
14
IN
------------====================================================================
Page 12 of 38 Pages
13D
===================
CUSIP No. 89214A102
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Monica R. Landry
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing hold an
aggregate of 5,331,279 Shares, which is 20.5% of the
class of securities. The reporting person on this
cover page, however, may be deemed a beneficial owner
only of the securities reported by it on this cover
page.
------------====================================================================
3 SEC USE ONLY
------------====================================================================
SOURCE OF FUNDS (See Instructions)
4
AF, OO
------------====================================================================
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
5 TO ITEMS 2(d) OR 2(e)
[ ]
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
6
United States
------------====================================================================
SOLE VOTING POWER
7
NUMBER OF -0-
------------=============================================
SHARES SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 5,331,279
------------=============================================
EACH SOLE DISPOSITIVE POWER
9
REPORTING -0-
PERSON WITH ------------=============================================
SHARED DISPOSITIVE POWER
10
5,331,279
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
5,331,279
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
12 CERTAIN SHARES (See Instructions)
[ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
20.5%
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
14
IN
------------====================================================================
Page 13 of 38 Pages
13D
===================
CUSIP No. 89214A102
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
William F. Mellin
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing hold an
aggregate of 5,331,279 Shares, which is 20.5% of the
class of securities. The reporting person on this
cover page, however, may be deemed a beneficial owner
only of the securities reported by it on this cover
page.
------------====================================================================
3 SEC USE ONLY
------------====================================================================
SOURCE OF FUNDS (See Instructions)
4
AF, OO
------------====================================================================
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
5 TO ITEMS 2(d) OR 2(e)
[ ]
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
6
United States
------------====================================================================
SOLE VOTING POWER
7
NUMBER OF -0-
------------=============================================
SHARES SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 5,331,279
------------=============================================
EACH SOLE DISPOSITIVE POWER
9
REPORTING -0-
PERSON WITH ------------=============================================
SHARED DISPOSITIVE POWER
10
5,331,279
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
5,331,279
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
12 CERTAIN SHARES (See Instructions)
[ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
20.5%
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
14
IN
------------====================================================================
Page 14 of 38 Pages
13D
===================
CUSIP No. 89214A102
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Stephen L. Millham
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing hold an
aggregate of 5,331,279 Shares, which is 20.5% of the
class of securities. The reporting person on this
cover page, however, may be deemed a beneficial owner
only of the securities reported by it on this cover
page.
------------====================================================================
3 SEC USE ONLY
------------====================================================================
SOURCE OF FUNDS (See Instructions)
4
AF, OO
------------====================================================================
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
5 TO ITEMS 2(d) OR 2(e)
[ ]
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
6
United States
------------====================================================================
SOLE VOTING POWER
7
NUMBER OF -0-
------------=============================================
SHARES SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 5,331,279
------------=============================================
EACH SOLE DISPOSITIVE POWER
9
REPORTING -0-
PERSON WITH ------------=============================================
SHARED DISPOSITIVE POWER
10
5,331,279
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
5,331,279
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
12 CERTAIN SHARES (See Instructions)
[ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
20.5%
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
14
IN
------------====================================================================
Page 15 of 38 Pages
13D
===================
CUSIP No. 89214A102
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Jason E. Moment
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing hold an
aggregate of 5,331,279 Shares, which is 20.5% of the
class of securities. The reporting person on this
cover page, however, may be deemed a beneficial owner
only of the securities reported by it on this cover
page.
------------====================================================================
3 SEC USE ONLY
------------====================================================================
SOURCE OF FUNDS (See Instructions)
4
AF, OO
------------====================================================================
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
5 TO ITEMS 2(d) OR 2(e)
[ ]
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
6
United States
------------====================================================================
SOLE VOTING POWER
7
NUMBER OF -0-
------------=============================================
SHARES SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 5,331,279
------------=============================================
EACH SOLE DISPOSITIVE POWER
9
REPORTING -0-
PERSON WITH ------------=============================================
SHARED DISPOSITIVE POWER
10
5,331,279
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
5,331,279
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
12 CERTAIN SHARES (See Instructions)
[ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
20.5%
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
14
IN
------------====================================================================
Page 16 of 38 Pages
13D
===================
CUSIP No. 89214A102
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Rajiv A. Patel
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing hold an
aggregate of 5,331,279 Shares, which is 20.5% of the
class of securities. The reporting person on this
cover page, however, may be deemed a beneficial owner
only of the securities reported by it on this cover
page.
------------====================================================================
3 SEC USE ONLY
------------====================================================================
SOURCE OF FUNDS (See Instructions)
4
AF, OO
------------====================================================================
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
5 TO ITEMS 2(d) OR 2(e)
[ ]
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
6
United States
------------====================================================================
SOLE VOTING POWER
7
NUMBER OF -0-
------------=============================================
SHARES SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 5,331,279
------------=============================================
EACH SOLE DISPOSITIVE POWER
9
REPORTING -0-
PERSON WITH ------------=============================================
SHARED DISPOSITIVE POWER
10
5,331,279
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
5,331,279
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
12 CERTAIN SHARES (See Instructions)
[ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
20.5%
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
14
IN
------------====================================================================
Page 17 of 38 Pages
13D
===================
CUSIP No. 89214A102
===================
-------------===================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Derek C. Schrier
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing hold an
aggregate of 5,331,279 Shares, which is 20.5% of the
class of securities. The reporting person on this
cover page, however, may be deemed a beneficial owner
only of the securities reported by it on this cover
page.
------------====================================================================
3 SEC USE ONLY
------------====================================================================
SOURCE OF FUNDS (See Instructions)
4
AF, OO
------------====================================================================
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
5 TO ITEMS 2(d) OR 2(e)
[ ]
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
6
United States
------------====================================================================
SOLE VOTING POWER
7
NUMBER OF -0-
------------=============================================
SHARES SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 5,331,279
------------=============================================
EACH SOLE DISPOSITIVE POWER
9
REPORTING -0-
PERSON WITH ------------=============================================
SHARED DISPOSITIVE POWER
10
5,331,279
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
5,331,279
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
12 CERTAIN SHARES (See Instructions)
[ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
20.5%
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
14
IN
------------====================================================================
Page 18 of 38 Pages
13D
===================
CUSIP No. 89214A102
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Thomas F. Steyer
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing hold an
aggregate of 5,331,279 Shares, which is 20.5% of the
class of securities. The reporting person on this
cover page, however, may be deemed a beneficial owner
only of the securities reported by it on this cover
page.
------------====================================================================
3 SEC USE ONLY
------------====================================================================
SOURCE OF FUNDS (See Instructions)
4
AF, OO
------------====================================================================
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
5 TO ITEMS 2(d) OR 2(e)
[ ]
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
6
United States
------------====================================================================
SOLE VOTING POWER
7
NUMBER OF -0-
------------=============================================
SHARES SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 5,331,279
------------=============================================
EACH SOLE DISPOSITIVE POWER
9
REPORTING -0-
PERSON WITH ------------=============================================
SHARED DISPOSITIVE POWER
10
5,331,279
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
5,331,279
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
12 CERTAIN SHARES (See Instructions)
[ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
20.5%
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
14
IN
------------====================================================================
Page 19 of 38 Pages
13D
===================
CUSIP No. 89214A102
===================
------------====================================================================
NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Mark C. Wehrly
------------====================================================================
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [ X ]**
2
** The reporting persons making this filing hold an
aggregate of 5,331,279 Shares, which is 20.5% of the
class of securities. The reporting person on this
cover page, however, may be deemed a beneficial owner
only of the securities reported by it on this cover
page.
------------====================================================================
3 SEC USE ONLY
------------====================================================================
SOURCE OF FUNDS (See Instructions)
4
AF, OO
------------====================================================================
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
5 TO ITEMS 2(d) OR 2(e)
[ ]
------------====================================================================
CITIZENSHIP OR PLACE OF ORGANIZATION
6
United States
------------====================================================================
SOLE VOTING POWER
7
NUMBER OF -0-
------------=============================================
SHARES SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 5,331,279
------------=============================================
EACH SOLE DISPOSITIVE POWER
9
REPORTING -0-
PERSON WITH ------------=============================================
SHARED DISPOSITIVE POWER
10
5,331,279
------------====================================================================
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
5,331,279
------------====================================================================
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
12 CERTAIN SHARES (See Instructions)
[ ]
------------====================================================================
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
20.5%
------------====================================================================
TYPE OF REPORTING PERSON (See Instructions)
14
IN
------------====================================================================
Page 20 of 38 Pages
Item 1. Security And Issuer
------- -------------------
This statement relates to shares of Common Stock, par value $0.001 per
share (the "Shares"), of Town Sports International Holdings, Inc. (the
"Company"). The Company's principal offices are located at 888 Seventh Avenue,
New York, New York 10106.
Item 2. Identity And Background
------- -----------------------
(a) This statement is filed by the entities and persons listed
below, all of whom together are referred to herein as the "Reporting Persons."
The Farallon Funds
------------------
(i) Farallon Capital Partners, L.P., a California limited
partnership ("FCP"), with respect to the Shares held
by it;
(ii) Farallon Capital Institutional Partners, L.P., a
California limited partnership ("FCIP"), with respect
to the Shares held by it;
(iii) Farallon Capital Institutional Partners II, L.P., a
California limited partnership ("FCIP II"), with
respect to the Shares held by it;
(iv) Farallon Capital Institutional Partners III, L.P., a
Delaware limited partnership ("FCIP III"), with
respect to the Shares held by it;
(v) Tinicum Partners, L.P., a New York limited
partnership ("Tinicum"), with respect to the Shares
held by it;
(vi) RR Capital Partners, L.P., a Delaware limited
partnership ("RR"), with respect to the Shares held
by it; and
(vii) Farallon Capital Offshore Investors II, L.P., a
Cayman Islands exempted limited partnership ("FCOI
II"), with respect to the Shares held by it.
FCP, FCIP, FCIP II, FCIP III, Tinicum, RR and FCOI II are together
referred to herein as the "Farallon Funds."
The Farallon General Partner
----------------------------
(viii) Farallon Partners, L.L.C., a Delaware limited
liability company which is the general partner of
each of the Farallon Funds (the "Farallon General
Partner"), with respect to the Shares held by each of
the Farallon Funds.
The Farallon Managing Members
-----------------------------
(ix) The following persons who are managing members of the
Farallon General Partner, with respect to the Shares
held by the Farallon Funds: Chun R. Ding
Page 21 of 38 Pages
("Ding"), William F. Duhamel ("Duhamel"), Richard B.
Fried ("Fried"), Monica R. Landry ("Landry"), William
F. Mellin ("Mellin"), Stephen L. Millham ("Millham"),
Jason E. Moment ("Moment"), Rajiv A. Patel ("Patel"),
Derek C. Schrier ("Schrier"), Thomas F. Steyer
("Steyer") and Mark C. Wehrly ("Wehrly").
Ding, Duhamel, Fried, Landry, Mellin, Millham, Moment, Patel, Schrier,
Steyer and Wehrly are together referred to herein as the "Farallon Individual
Reporting Persons."
(b) The address of the principal business and principal office of
(i) the Farallon Funds and the Farallon General Partner is One Maritime Plaza,
Suite 1325, San Francisco, California 94111 and (ii) each of the Farallon
Individual Reporting Persons is set forth in Annex 1 hereto.
(c) The principal business of each of the Farallon Funds is that
of a private investment fund engaging in the purchase and sale of investments
for its own account. The principal business of the Farallon General Partner is
to act as the general partner of the Farallon Funds. The principal business of
each of the Farallon Individual Reporting Persons is set forth in Annex 1
hereto.
(d) None of the Farallon Funds, the Farallon General Partner or
any of the Farallon Individual Reporting Persons has, during the last five
years, been convicted in a criminal proceeding (excluding traffic violations or
similar misdemeanors).
(e) None of the Farallon Funds, the Farallon General Partner or
any of the Farallon Individual Reporting Persons has, during the last five
years, been 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.
(f) The citizenship of each of the Farallon Funds and the Farallon
General Partner is set forth above.
The other information required by Item 2 relating to the identity and
background of the Reporting Persons is set forth in Annex 1 hereto.
Item 3. Source And Amount Of Funds And Other Consideration
------ --------------------------------------------------
Of the 5,331,279 Shares owned in aggregate by the Reporting Persons,
1,550,000 Shares were acquired at the time of the Company's IPO and 3,781,279
Shares were acquired prior to the Company's IPO.
The net investment cost (including commissions) for the 1,550,000
Shares acquired by the Farallon Funds at the time of the Company's IPO is set
forth below:
Page 22 of 38 Pages
Entity Shares Held Approximate Net
------ ----------- ---------------
Investment Cost
---------------
FCP 537,900 $6,578,650
FCIP 586,600 $7,152,600
FCIP II 265,000 $3,208,400
FCIP III 2,500 $32,500
Tinicum 2,500 $32,500
RR 65,000 $785,850
FCOI II 90,500 $1,176,500
The consideration for such acquisitions was obtained as follows: (i)
with respect to FCIP, FCIP II and FCIP III, from working capital; (ii) with
respect to FCP, Tinicum, RR and FCOI II, from working capital and/or from
borrowings pursuant to margin accounts maintained in the ordinary course of
business by FCP, Tinicum, RR and FCOI II at Goldman, Sachs & Co. It is not
possible to determine the amount of borrowings, if any, used to acquire the
Shares.
FCP, FCIP, FCIP II and RR acquired an aggregate of 3,781,279 Shares
pursuant to the Company's February 4, 2004 restructuring. As part of such
restructuring, each of FCP, FCIP, FCIP II and RR contributed to the Company
their shares of Class A Common Stock and Series A Preferred Stock of Town Sports
International, Inc. ("TSI") and received in return the same number of Class A
Common Shares (now the Shares) and Series A Preferred Stock of the Company.
Immediately prior to the Company's IPO, the Company effected a 14 for 1 stock
split, which increased FCP, FCIP, FCIP II and RR's aggregate approximate 270,091
Shares to 3,781,279 Shares (as adjusted for fractional Shares).
Item 4. Purpose Of The Transaction
------ --------------------------
The purpose of the acquisition of the Shares is for investment and the
acquisitions of the Shares by each of the Farallon Funds were made in the
ordinary course of business and were not made for the purpose of acquiring
control of the Company. One of the current members of the Company's Board of
Directors, Jason M. Fish, was designated by the Reporting Persons pursuant to
the stockholders agreement dated February 4, 2004, as amended, among the
Reporting Persons, the Company and certain other stockholders of the Company
(the "Stockholders Agreement"). Although the Stockholders Agreement terminated
upon the consummation of the Company's June 7, 2006 initial public offering (the
"IPO"), Mr. Fish continues to serve as member of the Company's Board of
Directors. Mr. Fish is a former managing member of the Farallon General Partner
and its affiliate Farallon Capital Management, L.L.C, and is now a special
limited partner of FCP.
Although no Reporting Person has any specific plan or proposal to
acquire or dispose of Shares, consistent with its investment purpose, each
Reporting Person at any time and from time to time may acquire additional Shares
or, subject to the terms of the Lock-Up Agreement described in Item 6 below,
dispose of any or all of its Shares depending upon an ongoing evaluation of the
investment in the Shares, prevailing market conditions, other investment
opportunities, liquidity
Page 23 of 38 Pages
requirements of the Reporting Person and/or other investment considerations. No
Reporting Person has made a determination regarding a maximum or minimum number
of Shares which it may hold at any point in time.
Also, consistent with their investment intent, the Reporting Persons
intend to engage in communications with Mr. Fish, and may engage in
communications with one or more officers of the Company, one or more other
members of the board of directors of the Company and/or one or more shareholders
of the Company regarding the Company, including but not limited to its
operations, capital structure and/or any current or future initiatives that may
be proposed or adopted by the Company's management or board of directors. During
the course of such communications, the Reporting Persons may advocate or oppose
one or more courses of action.
Except to the extent the foregoing may be deemed a plan or proposal,
none of the Reporting Persons has any plans or proposals which relate to, or
could result in, any of the matters referred to in paragraphs (a) through (j),
inclusive, of the instructions to Item 4 of Schedule 13D. The Reporting Persons
may, at any time and from time to time, review or reconsider their position
and/or change their purpose and/or formulate plans or proposals with respect
thereto.
Item 5. Interest In Securities Of The Issuer
------- ------------------------------------
(a) The Farallon Funds
------------------
(a),(b) The information set forth in Rows 7 through 13 of the
cover page hereto for each Farallon Fund is
incorporated herein by reference for each such
Farallon Fund. The percentage amount set forth in Row
13 for all cover pages filed herewith is calculated
based upon the 25,976,602 Shares outstanding after
the consummation of the Company's IPO as reported by
the Company in its Prospectus on Form 424B filed with
the Securities and Exchange Commission on June 2,
2006.
(c) The trade dates, number of Shares purchased or sold
and the price per Share (including commissions) for
all purchases and sales of the Shares by the Farallon
Funds in the past 60 days are set forth on Schedules
A-G hereto and are incorporated herein by reference.
Such transactions consisted of (i) purchases from the
Company under its IPO registration statement and (ii)
purchases from Canterbury Mezzanine Capital, L.P. and
Canterbury Detriot Partners, L.P. (together
"Canterbury") under the Company's IPO registration
statement. The purchases from Canterbury were made
pursuant to the terms of a purchase agreement between
Canterbury and certain of the Reporting Persons.
(d) The Farallon General Partner has the power to direct
the receipt of dividends relating to, or the
disposition of the proceeds of the sale of, all of
the Shares held by the Farallon Funds as reported
herein. The Farallon Individual Reporting Persons are
managing members of the Farallon General Partner.
(e) Not applicable.
Page 24 of 38 Pages
(b) The Farallon General Partner
----------------------------
(a),(b) The information set forth in Rows 7 through 13 of the
cover page hereto for the Farallon General Partner is
incorporated herein by reference.
(c) None.
(d) The Farallon General Partner has the power to direct
the receipt of dividends relating to, or the
disposition of the proceeds of the sale of, all of
the Shares held by the Farallon Funds as reported
herein. The Farallon Individual Reporting Persons are
managing members of the Farallon General Partner.
(e) Not applicable.
(c) The Farallon Individual Reporting Persons
-----------------------------------------
(a),(b) The information set forth in Rows 7 through 13 of the
cover page hereto for each Farallon Individual
Reporting Person is incorporated herein by reference
for each such Farallon Individual Reporting Person.
(c) None.
(d) The Farallon General Partner has the power to direct
the receipt of dividends relating to, or the
disposition of the proceeds of the sale of, all of
the Shares held by the Farallon Funds as reported
herein. The Farallon Individual Reporting Persons are
managing members of the Farallon General Partner.
(e) Not Applicable.
The Shares reported hereby for the Farallon Funds are owned directly by
the Farallon Funds. The Farallon General Partner, as general partner to the
Farallon Funds, may be deemed to be the beneficial owner of all such Shares
owned by the Farallon Funds. The Farallon Individual Reporting Persons, as
managing members of the Faral lon General Partner with the power to exercise
investment discretion, may each be deemed to be the beneficial owner of all such
Shares owned by the Farallon Funds. Each of the Farallon General Partner and the
Farallon Individual Reporting Persons hereby disclaims any beneficial ownership
of any such Shares.
Item 6. Contracts, Arrangements, Understandings Or Relationships With Respect
------ ---------------------------------------------------------------------
To Securities Of The Issuer
----------------------------
The Reporting Persons are party to a Registration Rights Agreement
dated as of February 4, 2004, as amended (the "Registration Rights Agreement").
Pursuant to the terms of the Registration Rights Agreement, the Reporting
Persons and certain other shareholders of the Company have the right to require
the Company, at the Company's expense and subject to certain limitations, to
register under the Securities Act of 1933, as amended (the "Securities Act"),
all or part of the Shares held by them (the "Registrable Securities"). Under
such agreement, the Reporting Persons are entitled to demand one long-form
registration (but only one year after the Company has
Page 25 of 38 Pages
consummated an initial registered public offering of its Shares) and up to three
short-form registrations. All holders of Registrable Securities, including the
Reporting Persons, are entitled to an unlimited number of "piggyback"
registrations, with the Company paying all expenses of the offering, whenever
the Company proposes to register its Shares under the Securities Act. Each such
holder is subject to certain limitations on its ability to participate in such a
"piggyback" registration. In addition, under the Registration Rights Agreement,
the Company has agreed to indemnify all holders of Registrable Securities
against certain liabilities, including certain liabilities under the Securities
Act.
The Reporting Persons, together with all of the Company's officers and
directors and certain other security holders of the Company, entered into a
lock-up agreement in conjunction with the IPO (the "Lock-Up Agreement"). Under
the Lock-Up Agreement the Reporting Persons agreed not to transfer or dispose
of, directly or indirectly, any Shares or any securities convertible into or
exercisable or exchangeable for Shares for 180 days after the date of IPO
prospectus. Transfers can be made sooner with the prior written consent of
Credit Suisse Securities (USA) LLC, and in the case of certain transfers to
affiliates or if made as a bona fide gift, provided, that any transferee or
donee agrees to be bound by the 180-day transfer restriction. The aggregate of
1,300,000 Shares acquired by certain of the Reporting Persons from Canterbury
are not subject to the terms of the Lock-Up Agreement and are immediately
registrable under the Securities Act upon consummation of the IPO.
This summary of the Registration Rights Agreement, the Lock-Up
Agreement and the Executive Stock Agreement is qualified in its entirety by the
full terms and conditions of the each such agreement, including the amendments
thereto. For a copy of the Registration Rights Agreement, see Exhibits 10.8,
10.9 and 10.9.1 to the Company's Amended Registration Statement on Form S-1
filed with the SEC on June 1, 2006, which documents are incorporated by
reference herein. For a copy of a form of the Lock-Up Agreement, see Annex I to
Exhibit 1.1 to the Company's Amended Registration Statement on S-1 filed with
the SEC on May 22, 2006, which document is incorporated by reference herein.
As noted in Item 4 above, Jason M. Fish was a former managing member of
the Farallon General Partner and its affiliate Farallon Capital Management,
L.L.C. and is currently a special limited partner of FCP. As such, Mr. Fish is
entitled to a portion of the profits realized from the performance of the Shares
owned by the Farallon Funds and Managed Accounts.
The Reporting Persons hold, in aggregate, $6,415,000 principal amount
of 9.625% Senior Secured Notes due 04/15/11 issued under that certain Indenture
dated as of April 16, 2003 among TSI, the guarantors party thereto and the Bank
of New York and guaranteed by the Company pursuant to that certain Guaranty
dated September 21, 2004.
Except as described above, there are no contracts, arrangements,
understandings or relationships (legal or otherwise) among the Reporting Persons
or between such persons and any other person with respect to any securities of
the Company, including but not limited to the transfer or voting of any
securities of the Company, finder's fees, joint ventures, loan or option
arrangements, puts or calls, guarantees of profits, divisions of profits or
loss, or the giving or withholding of proxies.
Page 26 of 38 Pages
Item 7. Materials To Be Filed As Exhibits
------ ---------------------------------
There is filed herewith as Exhibit 1 a written agreement relating to
the filing of joint acquisition statements as required by Section 240.13d-1(k)
under the Securities Exchange Act of 1934, as amended. The Registration Rights
Agreement, including amendments, were filed as Exhibits 10.8, 10.9 and 10.9.1 to
the Company's Amended Registration Statement on Form S-1 filed with the SEC on
June 1, 2006, which documents are incorporated herein by reference. A form of
the Lock-Up Agreement described in Item 6 was filed as Annex I to Exhibit 1.1 to
the Company's Amended Registration Statement on Form S-1 filed with the SEC on
May 22, 2006, which document is incorporated herein by reference.
Page 27 of 38 Pages
SIGNATURES
----------
After reasonable inquiry and to the best of our knowledge and belief,
the undersigned certify that the information set forth in this statement is
true, complete and correct.
Dated: June 19, 2006
/s/ Monica R. Landry
----------------------------------------
FARALLON PARTNERS, L.L.C.,
On its own behalf and
as the General Partner of
FARALLON CAPITAL PARTNERS, L.P.,
FARALLON CAPITAL INSTITUTIONAL PARTNERS, L.P.,
FARALLON CAPITAL INSTITUTIONAL PARTNERS II, L.P.,
FARALLON CAPITAL INSTITUTIONAL PARTNERS III, L.P.,
TINICUM PARTNERS, L.P.
RR CAPITAL PARTNERS, L.P. and
FARALLON CAPITAL OFFSHORE INVESTORS II, L.P.
By Monica R. Landry,
Managing Member
/s/ Monica R. Landry
----------------------------------------
Monica R. Landry, individually and as attorney-in-fact
for each of Chun R. Ding, William F. Duhamel,
Richard B. Fried, William F. Mellin, Stephen L. Millham,
Jason E. Moment, Rajiv A. Patel, Derek C. Schrier,
Thomas F. Steyer and Mark C. Wehrly
The Powers of Attorney executed by Duhamel, Fried, Mellin, Millham,
Steyer and Wehrly authorizing Landry to sign and file this Schedule 13D on each
person's behalf, which were filed with Amendment No. 2 to the Schedule 13D filed
with the Securities and Exchange Commission on July 16, 2003, by such Reporting
Persons with respect to the Common Stock of New World Restaurant Group, Inc.,
are hereby incorporated by reference. The Powers of Attorney executed by Ding
and Schrier authorizing Landry to sign and file this Schedule 13D on each
person's behalf, which were filed with Amendment No. 1 to the Schedule 13D filed
with the Securities and Exchange Commission on July 2, 2003, by such Reporting
Persons with respect to the Common Stock of Salix Pharmaceuticals, Ltd., are
hereby incorporated by reference. The Power of Attorney executed by Patel
authorizing Landry to sign and file this Schedule 13D on his behalf, which was
filed with Amendment No. 4 to the Schedule 13G filed with the Securities and
Exchange Commission on January 8, 2004, by such Reporting Person with respect to
the Common Stock of Catalytica Energy Systems, Inc., is hereby incorporated by
reference. The Power of Attorney executed by Moment authorizing Landry to sign
and file this Schedule 13D on his behalf, which was filed with the Schedule 13D
filed with the Securities and Exchange Commission on January 9, 2006, by such
Reporting Person with respect to the Common Stock of Vintage Petroleum, Inc., is
hereby incorporated by reference.
Page 28 of 38 Pages
ANNEX 1
Set forth below with respect to the Farallon General Partner is the
following information: (a) name; (b) address; (c) principal business; (d) state
of organization; and (e) controlling persons. Set forth below with respect to
each Farallon Individual Reporting Person is the following information: (a)
name; (b) business address; (c) principal occupation; and (d) citizenship.
1. The Farallon General Partner
----------------------------
(a) Farallon Partners, L.L.C.
(b) c/o Farallon Capital Management, L.L.C.
One Maritime Plaza, Suite 1325
San Francisco, California 94111
(c) Serves as general partner to investment partnerships
(d) Delaware limited liability company
(e) Managing Members: Thomas F. Steyer, Senior Managing Member;
Chun R. Ding, William F. Duhamel, Alice F. Evarts, Richard B.
Fried, Monica R. Landry, William F. Mellin, Stephen L.
Millham, Jason E. Moment, Rajiv A. Patel, Derek C. Schrier,
Gregory S. Swart and Mark C. Wehrly, Managing Members.
2. Managing Members of the Farallon General Partner
------------------------------------------------
Each of the managing members the Farallon General Partner other than
Swart is a citizen of the United States. Swart is a citizen of New
Zealand. The business address of each of the managing members of the
Farallon General Partner is c/o Farallon Capital Management, L.L.C.,
One Maritime Plaza, Suite 1325, San Francisco, California 94111. The
principal occupation of Thomas F. Steyer is serving as senior managing
member of the Farallon General Partner. The principal occupation of
each other managing member of the Farallon General Partner is serving
as a managing member of the Farallon General Partner. None of the
managing members of the Farallon General Partner has any additional
information to disclose with respect to Items 2-6 of the Schedule 13D
that is not already disclosed in the Schedule 13D.
Page 29 of 38 Pages
SCHEDULE A
-----------
FARALLON CAPITAL PARTNERS, L.P.
-------------------------------
NO. OF SHARES PRICE
TRADE DATE PURCHASED PER SHARE($)
------------ ----------- -------------
6/7/06 537,900 12.09*
*The Reporting Person purchased 82,900 of the Shares reported on this Schedule
through the underwriters in the Company's IPO. As part of such purchase, the
Reporting Persons paid an underwriters discount of $0.91 per Share. The total
price including the underwriters discount for such 82,900 Shares was $13.00 per
Share.
Page 30 of 38 Pages
SCHEDULE B
----------
FARALLON CAPITAL INSTITUTIONAL PARTNERS, L.P.
---------------------------------------------
NO. OF SHARES PRICE
TRADE DATE PURCHASED PER SHARE($)
------------ ----------- -------------
6/7/06 586,600 12.09*
* The Reporting Person purchased 66,600 of the Shares reported on this Schedule
through the underwriters in the Company's IPO. As part of such purchase, the
Reporting Persons also paid an underwriters discount of $0.91 per Share. The
total price including the underwriters discount for such 66,600 Shares was
$13.00 per Share.
Page 31 of 38 Pages
SCHEDULE C
----------
FARALLON CAPITAL INSTITUTIONAL PARTNERS II, L.P.
------------------------------------------------
NO. OF SHARES PRICE
TRADE DATE PURCHASED PER SHARE($)
------------ ----------- -------------
6/7/06 265,000 12.09*
* The Reporting Person purchased 5,000 of the Shares reported on this Schedule
through the underwriters in the Company's IPO. As part of such purchase, the
Reporting Persons also paid an underwriters discount of $0.91 per Share. The
total price including the underwriters discount for such 5,000 Shares was $13.00
per Share.
Page 32 of 38 Pages
SCHEDULE D
----------
FARALLON CAPITAL INSTITUTIONAL PARTNERS III, L.P.
-------------------------------------------------
NO. OF SHARES PRICE
TRADE DATE PURCHASED PER SHARE($)
------------ ----------- -------------
6/7/06 2,500 12.09*
* The Reporting Person purchased all of the Shares reported on this Schedule
through the underwriters in the Company's IPO. As part of such purchase, the
Reporting Persons also paid an underwriters discount of $0.91 per Share. The
total price including the underwriters discount for such 2,500 Shares was $13.00
per Share.
Page 33 of 38 Pages
SCHEDULE E
----------
TINICUM PARTNERS, L.P.
----------------------
NO. OF SHARES PRICE
TRADE DATE PURCHASED PER SHARE($)
------------ ----------- -------------
6/7/06 2,500 12.09*
* The Reporting Person purchased all of the Shares reported on this Schedule
through the underwriters in the Company's IPO. As part of such purchase, the
Reporting Persons also paid an underwriters discount of $0.91 per Share. The
total price including the underwriters discount for such 2,500 Shares was $13.00
per Share.
Page 34 of 38 Pages
SCHEDULE F
----------
RR CAPITAL PARTNERS, L.P.
-------------------------
NO. OF SHARES PRICE
TRADE DATE PURCHASED PER SHARE($)
------------ ----------- -------------
6/7/06 65,000 12.09
Page 35 of 38 Pages
SCHEDULE G
----------
FARALLON CAPITAL OFFSHORE INVESTORS II, L.P.
--------------------------------------------
NO. OF SHARES PRICE
TRADE DATE PURCHASED PER SHARE($)
------------ ----------- -------------
6/7/06 90,500 12.09*
* The Reporting Person purchased all of the Shares reported on this Schedule
through the underwriters in the Company's IPO. As part of such purchase, the
Reporting Persons also paid an underwriters discount of $0.91 per Share. The
total price including the underwriters discount for such 90,500 Shares was
$13.00 per Share.
Page 36 of 38 Pages
EXHIBIT INDEX
EXHIBIT 1 Joint Acquisition Statement Pursuant to Section
240.13d-1(k)
Page 37 of 38 Pages
EXHIBIT 1
to
SCHEDULE 13D
JOINT ACQUISITION STATEMENT
PURSUANT TO SECTION 240.13d-1(k)
--------------------------------
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 therein, 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 inaccurate.
Dated: June 19, 2006
/s/ Monica R. Landry
----------------------------------------
FARALLON PARTNERS, L.L.C.,
On its own behalf and
as the General Partner of
FARALLON CAPITAL PARTNERS, L.P.,
FARALLON CAPITAL INSTITUTIONAL PARTNERS, L.P.,
FARALLON CAPITAL INSTITUTIONAL PARTNERS II, L.P.,
FARALLON CAPITAL INSTITUTIONAL PARTNERS III, L.P.,
TINICUM PARTNERS, L.P.,
RR CAPITAL PARTNERS, L.P. and
FARALLON CAPITAL OFFSHORE INVESTORS II, L.P.
By Monica R. Landry,
Managing Member
/s/ Monica R. Landry
----------------------------------------
Monica R. Landry, individually and as attorney-in-fact
for each of Chun R. Ding, William F. Duhamel,
Richard B. Fried, William F. Mellin, Stephen L. Millham,
Jason E. Moment, Rajiv A. Patel, Derek C. Schrier,
Thomas F. Steyer and Mark C. Wehrly
Page 38 of 38 Pages