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MATLINPATTERSON LLC 4

Accession 0001133796-10-000341

CIK 0000878560other
View on SEC.govCompany Profile

Filed

Nov 23, 7:00 PM ET

Accepted

Nov 24, 4:08 PM ET

Size

23.2 KB

Accession

0001133796-10-000341

Insider Transaction Report

Form 4
Period: 2010-11-23
STANDARD PACIFIC CORP /DE/SPF
MatlinPatterson Global Opportunities Partners III LP
10% Owner
Transactions
  • Expiration (Short)

    Warrant (right to buy)

    2010-11-23−1→ 0 total
    Exercise: $1344.26From: 2008-06-27Exp: 2015-06-27→ Junior Convertible Preferred Stock (272,670 underlying)
  • Purchase

    Warrant (right to buy)

    2010-11-23+1→ 1 total
    From: 2010-11-23→ Common Stock (89,400,000 underlying)
MatlinPatterson Global Opportunities Partners (Cayman) III LP
10% Owner
Transactions
  • Expiration (Short)

    Warrant (right to buy)

    2010-11-23−1→ 0 total
    Exercise: $1344.26From: 2008-06-27Exp: 2015-06-27→ Junior Convertible Preferred Stock (272,670 underlying)
  • Purchase

    Warrant (right to buy)

    2010-11-23+1→ 1 total
    From: 2010-11-23→ Common Stock (89,400,000 underlying)
MATLINPATTERSON GLOBAL ADVISERS LLC
10% Owner
Transactions
  • Expiration (Short)

    Warrant (right to buy)

    2010-11-23−1→ 0 total
    Exercise: $1344.26From: 2008-06-27Exp: 2015-06-27→ Junior Convertible Preferred Stock (272,670 underlying)
  • Purchase

    Warrant (right to buy)

    2010-11-23+1→ 1 total
    From: 2010-11-23→ Common Stock (89,400,000 underlying)
MATLIN DAVID J
Director
Transactions
  • Purchase

    Warrant (right to buy)

    2010-11-23+1→ 1 total
    From: 2010-11-23→ Common Stock (89,400,000 underlying)
  • Expiration (Short)

    Warrant (right to buy)

    2010-11-23−1→ 0 total
    Exercise: $1344.26From: 2008-06-27Exp: 2015-06-27→ Junior Convertible Preferred Stock (272,670 underlying)
PATTERSON MARK R
10% Owner
Transactions
  • Purchase

    Warrant (right to buy)

    2010-11-23+1→ 1 total
    From: 2010-11-23→ Common Stock (89,400,000 underlying)
  • Expiration (Short)

    Warrant (right to buy)

    2010-11-23−1→ 0 total
    Exercise: $1344.26From: 2008-06-27Exp: 2015-06-27→ Junior Convertible Preferred Stock (272,670 underlying)
MatlinPatterson Global Partners III LLC
10% Owner
Transactions
  • Purchase

    Warrant (right to buy)

    2010-11-23+1→ 1 total
    From: 2010-11-23→ Common Stock (89,400,000 underlying)
  • Expiration (Short)

    Warrant (right to buy)

    2010-11-23−1→ 0 total
    Exercise: $1344.26From: 2008-06-27Exp: 2015-06-27→ Junior Convertible Preferred Stock (272,670 underlying)
MATLINPATTERSON ASSET MANAGEMENT LLC
10% Owner
Transactions
  • Expiration (Short)

    Warrant (right to buy)

    2010-11-23−1→ 0 total
    Exercise: $1344.26From: 2008-06-27Exp: 2015-06-27→ Junior Convertible Preferred Stock (272,670 underlying)
  • Purchase

    Warrant (right to buy)

    2010-11-23+1→ 1 total
    From: 2010-11-23→ Common Stock (89,400,000 underlying)
MATLINPATTERSON LLC
10% Owner
Transactions
  • Expiration (Short)

    Warrant (right to buy)

    2010-11-23−1→ 0 total
    Exercise: $1344.26From: 2008-06-27Exp: 2015-06-27→ Junior Convertible Preferred Stock (272,670 underlying)
  • Purchase

    Warrant (right to buy)

    2010-11-23+1→ 1 total
    From: 2010-11-23→ Common Stock (89,400,000 underlying)
MP CA Homes LLC
10% Owner
Transactions
  • Expiration (Short)

    Warrant (right to buy)

    2010-11-23−1→ 0 total
    Exercise: $1344.26From: 2008-06-27Exp: 2015-06-27→ Junior Convertible Preferred Stock (272,670 underlying)
  • Purchase

    Warrant (right to buy)

    2010-11-23+1→ 1 total
    From: 2010-11-23→ Common Stock (89,400,000 underlying)
Footnotes (6)
  • [F1]The two transactions reported in Table II above arise from the amendment of an outstanding Warrant that granted MP CA Homes LLC the right to purchase 272,670 shares of Junior Convertible Preferred Stock (the "Warrant") for an exercise price of $1344.26 per share of Junior Convertible Preferred Stock. The 272,670 shares of Junior Convertible Preferred Stock that were represented by the Warrant were convertible into 89,400,000 shares of Common Stock. The exercise price of $1344.26 per share of Junior Convertible Preferred Stock represented $4.10 multiplied by the number of shares of Common Stock issuable upon conversion of each share of Junior Convertible Preferred Stock. As amended, the Warrant grants MP CA Homes LLC the right to purchase, directly, 89,400,000 shares of Common Stock for an exercise price of $2.09732 per share of Common Stock.
  • [F2]MP CA Homes LLC is the direct owner of the Warrant. MatlinPatterson Global Opportunities Partners III L.P. and MatlinPatterson Global Opportunities Partners (Cayman) III L.P. (together, "the Funds"), hold 100 percent of the membership interests in MP CA Homes LLC. MatlinPatterson Global Partners III LLC (the "General Partner") is the general partner of the Funds. MatlinPatterson Global Advisers LLC (the "Adviser") is the investment adviser to the Funds. MatlinPatterson Asset Management LLC holds 100 percent of the voting interest and equity of the Adviser and the General Partner. MatlinPatterson LLC holds 100 percent of the equity of MatlinPatterson Asset Management LLC.
  • [F3]Other than MP CA Homes LLC, each of the foregoing reporting persons disclaims beneficial ownership of the shares held by MP CA Homes LLC, except to the extent that such reporting person holds an indirect pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all of the reported shares for purposes of Section 16 or for any other purpose.
  • [F4]David J. Matlin and Mark R. Patterson are employees of the Adviser and each hold 50 percent of the membership interests in MatlinPatterson LLC. David J. Matlin and Mark R. Patterson may be deemed to have shared voting and investment control over the shares of the Issuer held by MP CA Homes LLC. They also have indirect pecuniary interests in the Funds. Their exact pecuniary interests therein are not readily determinable because they are subject to several variables, including without limitation, the internal rates of return of the Funds overall with respect to their indirect investment in the Issuer. David J. Matlin and Mark R. Patterson disclaim beneficial ownership of any of the reported securities except to the extent of their pecuniary interest therein.
  • [F5]The exercise price of the Warrant, as amended, is $2.09732 per share of Common Stock.
  • [F6]The Warrant will expire one business day immediately following the earlier of (i) the consummation of the Issuer's cash tender offers for any and all of the Issuer's 9 1/4% senior subordinated notes due April 15, 2012, 6 1/4% senior notes due April 1, 2014 and 7 % senior notes due August 15, 2015 and (ii) the six month anniversary of the date of the amendment of the Warrant, entered into on November 23, 2010.

Documents

1 file

Issuer

STANDARD PACIFIC CORP /DE/

CIK 0000878560

→
Entity typeother
IncorporatedDE

Related Parties

1
  • filerCIK 0001178798

Filing Metadata

Form type
4
Filed
Nov 23, 7:00 PM ET
Accepted
Nov 24, 4:08 PM ET
Size
23.2 KB
View on SEC.gov