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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 13D
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
RULE 13d-2(a)
(AMENDMENT NO. 1)*
SPECTRUM BRANDS, INC.
(Name of Issuer)
COMMON STOCK (PAR VALUE $0.01 PER SHARE)
(Title of Class of Securities)
84762L105
(CUSIP Number)
WILLIAM R. LUCAS, JR.
ONE RIVERCHASE PARKWAY SOUTH
BIRMINGHAM, ALABAMA 35244
(Name, Address and Telephone Number of
Person Authorized to Receive Notices
and Communications)
MAY 20, 2008
(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 Rule 13d-1(e), 13d-1(f) or 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 Rule 13d-7 for other
parties to whom copies are to be sent.
IMPORTANT NOTE: THE SECURITIES SET FORTH IN THIS REPORT ARE DIRECTLY
BENEFICIALLY OWNED BY HARBINGER CAPITAL PARTNERS MASTER FUND I, LTD. AND/OR
HARBINGER CAPITAL PARTNERS SPECIAL SITUATIONS FUND, L.P. (COLLECTIVELY, THE
"FUNDS"). ALL OTHER ENTITIES AND PERSONS ARE INCLUDED WITHIN THIS REPORT DUE TO
THEIR AFFILIATION WITH ONE OR BOTH OF THE FUNDS.
* 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).
===============================================================================
CUSIP No. 84762L105 Page 2 of 19
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
Harbinger Capital Partners Master Fund I, Ltd.
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_]
(b) [X]
- --------------------------------------------------------------------------------
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
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF -0-
------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY OWNED 3,500,000
------------------------------------------------
BY EACH REPORTING 9 SOLE DISPOSITIVE POWER
PERSON -0-
------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
3,500,000
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,500,000
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[_]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.6%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO
- --------------------------------------------------------------------------------
CUSIP No. 84762L105 Page 3 of 19
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
Harbinger Capital Partners Offshore Manager, L.L.C.
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_]
(b) [X]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e)
[_]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF -0-
------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY OWNED 3,500,000
------------------------------------------------
BY EACH REPORTING 9 SOLE DISPOSITIVE POWER
PERSON -0-
------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
3,500,000
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,500,000
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[_]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.6%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO
- --------------------------------------------------------------------------------
CUSIP No. 84762L105 Page 4 of 19
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
HMC Investors, L.L.C.
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_]
(b) [X]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e)
[_]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF -0-
------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY OWNED 3,500,000
------------------------------------------------
BY EACH REPORTING 9 SOLE DISPOSITIVE POWER
PERSON -0-
------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
3,500,000
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,500,000
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[_]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.6%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO
- --------------------------------------------------------------------------------
CUSIP No. 84762L105 Page 5 of 19
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
Harbinger Capital Partners Special Situations Fund, L.P.
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_]
(b) [X]
- --------------------------------------------------------------------------------
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
Delaware
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF -0-
------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY OWNED 1,700,000
------------------------------------------------
BY EACH REPORTING 9 SOLE DISPOSITIVE POWER
PERSON -0-
------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
1,700,000
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,700,000
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[_]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.2%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
CUSIP No. 84762L105 Page 6 of 19
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
Harbinger Capital Partners Special Situations GP, L.L.C.
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_]
(b) [X]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e)
[_]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF -0-
------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY OWNED 1,700,000
------------------------------------------------
BY EACH REPORTING 9 SOLE DISPOSITIVE POWER
PERSON -0-
------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
1,700,000
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,700,000
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[_]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.2%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO
- --------------------------------------------------------------------------------
CUSIP No. 84762L105 Page 7 of 19
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
HMC - New York, Inc.
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_]
(b) [X]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e)
[_]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF -0-
------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY OWNED 1,700,000
------------------------------------------------
BY EACH REPORTING 9 SOLE DISPOSITIVE POWER
PERSON -0-
------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
1,700,000
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,700,000
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[_]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.2%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
CUSIP No. 84762L105 Page 8 of 19
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
Harbert Management Corporation
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_]
(b) [X]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e)
[_]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Alabama
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF -0-
------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY OWNED 5,200,000
------------------------------------------------
BY EACH REPORTING 9 SOLE DISPOSITIVE POWER
PERSON -0-
------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
5,200,000
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,200,000
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[_]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.9%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
CUSIP No. 84762L105 Page 9 of 19
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
Philip Falcone
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_]
(b) [X]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e)
[_]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF -0-
------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY OWNED 5,200,000
------------------------------------------------
BY EACH REPORTING 9 SOLE DISPOSITIVE POWER
PERSON -0-
------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
5,200,000
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,200,000
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[_]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.9%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
CUSIP No. 84762L105 Page 10 of 19
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
Raymond J. Harbert
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_]
(b) [X]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e)
[_]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF -0-
------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY OWNED 5,200,000
------------------------------------------------
BY EACH REPORTING 9 SOLE DISPOSITIVE POWER
PERSON -0-
------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
5,200,000
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,200,000
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[_]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.9%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
CUSIP No. 84762L105 Page 11 of 19
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
Michael D. Luce
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_]
(b) [X]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e)
[_]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF -0-
------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY OWNED 5,200,000
------------------------------------------------
BY EACH REPORTING 9 SOLE DISPOSITIVE POWER
PERSON -0-
------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
5,200,000
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,200,000
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[_]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.9%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
CUSIP No. 84762L105 Page 12 of 19
Pursuant to Rule 13d-2(a) of Regulation 13D-G of the General Rules and
Regulations under the Securities Exchange Act of 1934, as amended (the "Act"),
the undersigned hereby amend their Schedule 13D Statement, dated February 28,
2008 (the "Schedule 13D"), relating to the common stock, par value $0.01 per
share (the "Common Stock"), of Spectrum Brands, Inc., a Wisconsin corporation
(the "Issuer"). This Amendment No. 1 is being filed by Harbinger Capital
Partners Master Fund I, Ltd. (the "Master Fund"), an investment fund, Harbinger
Capital Partners Offshore Manager, L.L.C. ("Harbinger Manager"), the investment
manager of the Master Fund, HMC Investors, L.L.C., its managing member ("HMC
Investors"), Harbinger Capital Partners Special Situations Fund, L.P. (the
"Special Fund"), an investment fund, Harbinger Capital Partners Special
Situations GP, LLC ("HCPSS"), the general partner of the Special Fund, HMC -
New York, Inc. ("HMCNY"), the managing member of HCPSS, Harbert Management
Corporation ("HMC"), the parent of HMCNY, Philip Falcone, a shareholder of HMC
and the portfolio manager of the Master Fund and the Special Fund, Raymond J.
Harbert, a shareholder of HMC and Michael D. Luce, a shareholder of HMC (each
of the Master Fund, Harbinger Manager, HMC Investors, the Special Fund, HCPSS,
HMCNY, HMC and Messrs. Falcone, Harbert and Luce, a "Reporting Person", and
collectively, the "Reporting Persons"). Capitalized terms used but not
otherwise defined herein shall have the meanings ascribed to such terms in the
Schedule 13D. As specifically amended and supplemented by this Amendment No. 1,
the Schedule 13D shall remain in full force and effect.
Item 4. PURPOSE OF TRANSACTION
Item 4 is hereby amended by adding the following between the first and
second paragraphs of such Item 4:
On May 20, 2008, Salton, Inc., a Delaware corporation ("Salton") and
controlled affiliate of each of the Reporting Persons, Applica Pet Products
LLC, a Delaware limited liability company (together with Salton, the
"Purchaser"), a direct wholly-owned subsidiary of Salton and controlled
affiliate of each of the Reporting Persons, and the Issuer entered into a
definitive Purchase Agreement (the "Purchase Agreement") for the purchase of
the Issuer's Global Pet Business (the "Transaction"). Subject to the conditions
contained in the Purchase Agreement, the Purchaser will pay the Issuer $692.5
million in cash and will transfer to the Issuer (i) a principal amount of the
Issuer's Variable Rate Toggle Senior Subordinated Notes due 2013 equal to $98
million less an amount equal to accrued and unpaid interest on such notes since
the dates of the last interest payment for such notes (the "Transferred
Variable Rate Notes") and (ii) a principal amount of the Issuer's 7 3/8 percent
Senior Subordinated Notes due 2015 equal to $124.5 million less an amount equal
to accrued and unpaid interest on such notes since the dates of the last
interest payments for such notes (together with the Transferred Variable Rate
Notes, the "Transferred Notes"). Under the terms of the Purchase Agreement, the
purchase price is subject to customary adjustments, including for the financial
performance of the Global Pet Business derived from the 2007 audited financial
statements of the Global Pet Business, changes in working capital prior to
closing and certain expenses incurred in connection with the Transaction.
Funding for the Transaction (including the Transferred Notes that will be
transferred to the Issuer) will be provided by an equity investment in the
Purchaser by the Master Fund and the Special Fund, pursuant to the terms and
conditions of the Commitment Letters (as defined below). The Purchase Agreement
is incorporated by reference into this Item 4 and was previously filed as
Exhibit 2.1 on Form 8-K filed by Salton and dated May 27, 2008 (SEC file no.
001-14857).
Item 6. CONTRACTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES
OF THE ISSUER
Item 6 is hereby amended by adding the following:
The information contained in the amendment to Item 4 above is hereby
incorporated into this Item 6 by reference.
On May 20, 2008, the Master Fund entered into a commitment letter with
Salton (the "Master Fund Commitment Letter") and the Special Fund entered into
a commitment letter with Salton (the "Special Fund Commitment Letter" and
together with the Master Fund Commitment Letter, the "Commitment Letters"). The
Master Fund Commitment Letter is incorporated by reference into this Item 6 and
was previously filed as Exhibit 99.1 on Form 8-K filed by Salton and dated May
27, 2008 (SEC file no. 001-14857). The Special Fund Commitment Letter is
CUSIP No. 84762L105 Page 13 of 19
incorporated by reference into this Item 6 and was previously filed as Exhibit
99.2 on Form 8-K filed by Salton and dated May 27, 2008 (SEC file no.
001-14857).
On May 20, 2008, the Master Fund, the Special Fund and the Issuer
acknowledged and agreed pursuant to the terms of a letter agreement to amend
and restate the definition of "Standstill Period" set forth in the
Confidentiality and Standstill Agreement in its entirety to read as follows:
"'Standstill Period' shall mean the period commencing on the date
hereof and ending on the earliest of (a) in the event of a
termination of the definitive agreement in respect of the
Transaction (the "Purchase Agreement") in accordance with its
terms in a circumstance that results in an obligation of Salton to
pay Liquidated Damages (as defined in the Purchase Agreement), on
the thirtieth (30th) day following such termination, and upon any
other termination of the Purchase Agreement, the date of such
termination, (b) the consummation of the transactions contemplated
by the Purchase Agreement, (c) the date that any third party
initiates a tender or exchange offer for, or otherwise publicly
proposes or agrees to acquire, any or all of the outstanding
common stock or voting power of the Company, and (d) the date that
the Company publicly announces that it has entered into a
definitive agreement to merge with a third party, sell assets
representing 15% or more of its total assets to a third party
(excluding the transactions contemplated by the definitive
agreement in respect of the Transaction), sell voting securities
representing more than 15% of its total voting power to any third
party or enters into a definitive agreement to, or announces an
intention to undertake or pursue, a recapitalization, any
transaction that would be inconsistent with or interfere with the
Transaction, a debt refinancing or a restructuring (excluding any
announcement by the Company of how it intends to utilize the net
proceeds from the Transaction)."
Item 7. MATERIAL TO BE FILED AS EXHIBITS
Item 7 is hereby amended by adding the following:
Exhibit C: Joint Filing Agreement
Exhibit D: Purchase Agreement, dated as of May 20, 2008, by and among
Salton, Inc., Applica Pet Products LLC and Spectrum Brands, Inc. is
incorporated by reference into the Schedule 13D as Exhibit 2.1 on Form 8-K
filed by Salton and dated May 27, 2008 (SEC file no. 001-14857).
Exhibit E: Commitment Letter, dated as of May 20, 2008, by and among
Harbinger Capital Partners Master Fund I, Ltd. and Salton, Inc. and
acknowledged by Applica Pet Products LLC is incorporated by reference into the
Schedule 13D as Exhibit 99.1 on Form 8-K filed by Salton and dated May 27, 2008
(SEC file no. 001-14857).
Exhibit F: Commitment Letter, dated as of May 20, 2008, by and among
Harbinger Capital Partners Special Situations Fund, L.P. and Salton, Inc. and
acknowledged by Applica Pet Products LLC is incorporated by reference into the
Schedule 13D as Exhibit 99.2 on Form 8-K filed by Salton and dated May 27, 2008
(SEC file no. 001-14857).
CUSIP No. 84762L105 Page 14 of 19
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.
HARBINGER CAPITAL PARTNERS MASTER FUND I, LTD.
By: Harbinger Capital Partners Offshore
Manager, L.L.C.
By: HMC Investors, L.L.C.,
Managing Member
By: /s/ William R. Lucas, Jr.
---------------------------------------
Name: William R. Lucas, Jr.
Title: Executive Vice President
HARBINGER CAPITAL PARTNERS OFFSHORE MANAGER,
L.L.C.
By: HMC Investors, L.L.C.,
Managing Member
By: /s/ William R. Lucas, Jr.
---------------------------------------
Name: William R. Lucas, Jr.
Title: Executive Vice President
HMC INVESTORS, L.L.C.
By: /s/ William R. Lucas, Jr.
---------------------------------------
Name: William R. Lucas, Jr.
Title: Executive Vice President
HARBINGER CAPITAL PARTNERS SPECIAL SITUATIONS
FUND, L.P.
By: Harbinger Capital Partners Special
Situations GP, LLC
Managing Member
By: HMC - New York, Inc., Managing Member
By: /s/ William R. Lucas, Jr.
---------------------------------------
Name: William R. Lucas, Jr.
Title: Executive Vice President
CUSIP No. 84762L105 Page 15 of 19
HARBINGER CAPITAL PARTNERS SPECIAL SITUATIONS
GP, LLC
By: HMC - New York, Inc., Managing Member
By: /s/ William R. Lucas, Jr.
---------------------------------------
Name: William R. Lucas, Jr.
Title: Executive Vice President
HMC - NEW YORK, INC.
By: /s/ William R. Lucas, Jr.
---------------------------------------
Name: William R. Lucas, Jr.
Title: Executive Vice President
HARBERT MANAGEMENT CORPORATION
By: /s/ William R. Lucas, Jr.
-------------------------------
Name: William R. Lucas, Jr.
Title: Executive Vice President
& General Counsel
CUSIP No. 84762L105 Page 16 of 19
/s/ Philip Falcone
------------------------------------
Philip Falcone
/s/ Raymond J. Harbert
------------------------------------
Raymond J. Harbert
/s/ Michael D. Luce
------------------------------------
Michael D. Luce
May 27, 2008
Attention: Intentional misstatements or omissions of fact constitute federal
criminal violations (see 18 U.S.C. 1001).
CUSIP No. 84762L105 Page 17 of 19
EXHIBIT C
AGREEMENT
The undersigned agree that this Schedule 13D dated May 27, 2008
relating to the Common Stock ($0.01 par value per share) of Spectrum Brands,
Inc. shall be filed on behalf of the undersigned.
HARBINGER CAPITAL PARTNERS MASTER FUND I, LTD.
By: Harbinger Capital Partners Offshore
Manager, L.L.C.
By: HMC Investors, L.L.C.,
Managing Member
By: /s/ William R. Lucas, Jr.
---------------------------------------
Name: William R. Lucas, Jr.
Title: Executive Vice President
HARBINGER CAPITAL PARTNERS OFFSHORE MANAGER,
L.L.C.
By: HMC Investors, L.L.C.,
Managing Member
By: /s/ William R. Lucas, Jr.
---------------------------------------
Name: William R. Lucas, Jr.
Title: Executive Vice President
HMC INVESTORS, L.L.C.
By: /s/ William R. Lucas, Jr.
---------------------------------------
Name: William R. Lucas, Jr.
Title: Executive Vice President
HARBINGER CAPITAL PARTNERS SPECIAL SITUATIONS
FUND, L.P.
By: Harbinger Capital Partners Special
Situations GP, LLC
Managing Member
CUSIP No. 84762L105 Page 18 of 19
By: HMC - New York, Inc., Managing Member
By: /s/ William R. Lucas, Jr.
---------------------------------------
Name: William R. Lucas, Jr.
Title: Executive Vice President
HARBINGER CAPITAL PARTNERS SPECIAL SITUATIONS
GP, LLC
By: HMC - New York, Inc., Managing Member
By: /s/ William R. Lucas, Jr.
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Name: William R. Lucas, Jr.
Title: Executive Vice President
HMC - NEW YORK, INC.
By: /s/ William R. Lucas, Jr.
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Name: William R. Lucas, Jr.
Title: Executive Vice President
HARBERT MANAGEMENT CORPORATION
By: /s/ William R. Lucas, Jr.
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Name: William R. Lucas, Jr.
Title: Executive Vice President
& General Counsel
CUSIP No. 84762L105 Page 19 of 19
/s/ Philip Falcone
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Philip Falcone
/s/ Raymond J. Harbert
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Raymond J. Harbert
/s/ Michael D. Luce
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Michael D. Luce
May 27, 2008
*The Reporting Persons disclaim beneficial ownership in the shares reported
herein except to the extent of their pecuniary interest there.