Delta Financial Corp - Amended Statement of Beneficial Ownership (SC 13D/A)
08 12월 2007 - 5:19AM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
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SCHEDULE
13D
(Amendment
No. 3) *
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Under
the Securities Exchange Act of 1934
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Delta
Financial Corporation
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(Name
of Issuer)
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Common
Stock, par value $0.01 per share
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(Title
of Class of Securities)
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24791815
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(CUSIP
Number)
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David
N. Roberts, Senior Managing Director
Angelo,
Gordon & Co., L.P.
245
Park Avenue
New
York, New York 10167
(212)
692-2025
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(Name,
Address and Telephone Number of Person Authorized to Receive Notices
and
Communications)
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December
6, 2007
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(Date
of Event which Requires Filing of this Statement)
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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 §§240.13d-1(e), 240.13d-1(f) or
240.13d-1(g), check the following box
.
o
Note
:
Schedules filed in paper format shall include a signed original
and five
copies of the schedule, including all exhibits. See Rule §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 (the “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).
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(Continued
on following pages)
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Cusip
No. 247918105
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Page
2 of 6 Pages
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1
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NAME
OF REPORTING PERSON
I.R.S.
IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
ANGELO,
GORDON & CO., L.P.
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2.
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CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
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(a)
o
(b)
x
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3
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SEC
USE ONLY
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4.
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SOURCES
OF FUNDS*
Not
Applicable
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5.
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CHECK
BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d)
or 2(e)
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o
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6.
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CITIZENSHIP
OR PLACE OF ORGANIZATION
Delaware
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NUMBER
OF
SHARES
BENEFICIALLY
OWNED
BY
EACH
REPORTING
PERSON
WITH
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7.
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SOLE
VOTING POWER
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10,262,700
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8.
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SHARED
VOTING POWER
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0
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9.
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SOLE
DISPOSITIVE POWER
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10,262,700
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10.
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SHARED
DISPOSITIVE POWER
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0
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11.
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AGGREGATE
AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
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10,262,700
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12.
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CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES*
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o
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13.
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PERCENT
OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
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30.5%
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14.
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TYPE
OF REPORTING PERSON*
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IA;
PN
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*
See
Instructions
Cusip
No. 247918105
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Page
3 of 6 Pages
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1
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NAME
OF REPORTING PERSON
I.R.S.
IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
JOHN
M . ANGELO
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2.
|
CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
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(a)
o
(b)
x
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3
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SEC
USE ONLY
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4.
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SOURCES
OF FUNDS*
Not
Applicable
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5.
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CHECK
BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d)
or 2(e)
|
o
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6.
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CITIZENSHIP
OR PLACE OF ORGANIZATION
United
States
|
NUMBER
OF
SHARES
BENEFICIALLY
OWNED
BY
EACH
REPORTING
PERSON
WITH
|
7.
|
SOLE
VOTING POWER
|
0
|
|
8.
|
SHARED
VOTING POWER
|
10,262,700
|
|
9.
|
SOLE
DISPOSITIVE POWER
|
0
|
|
10.
|
SHARED
DISPOSITIVE POWER
|
10,262,700
|
|
11.
|
AGGREGATE
AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
|
|
|
10,262,700
|
|
12.
|
CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES*
|
o
|
13.
|
PERCENT
OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
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30.5%
|
|
14.
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TYPE
OF REPORTING PERSON*
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IN;
HC
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*
See
Instructions
Cusip
No. 247918105
|
|
Page
4 of 6 Pages
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1
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NAME
OF REPORTING PERSON
I.R.S.
IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
MICHAEL
L. GORDON
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2.
|
CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
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(a)
o
(b)
x
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3
|
SEC
USE ONLY
|
4.
|
SOURCES
OF FUNDS*
Not
Applicable
|
5.
|
CHECK
BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d)
or 2(e)
|
o
|
6.
|
CITIZENSHIP
OR PLACE OF ORGANIZATION
United
States
|
NUMBER
OF
SHARES
BENEFICIALLY
OWNED
BY
EACH
REPORTING
PERSON
WITH
|
7.
|
SOLE
VOTING POWER
|
0
|
|
8.
|
SHARED
VOTING POWER
|
10,262,700
|
|
9.
|
SOLE
DISPOSITIVE POWER
|
0
|
|
10.
|
SHARED
DISPOSITIVE POWER
|
10,262,700
|
|
11.
|
AGGREGATE
AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
|
|
|
10,262,700
|
|
12.
|
CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES*
|
o
|
13.
|
PERCENT
OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
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30.5%
|
|
14.
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TYPE
OF REPORTING PERSON*
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IN;
HC
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*
See
Instructions
Cusip
No. 247918105
|
|
Page
5 of 6 Pages
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Introduction
This
Amendment No. 3 to Schedule 13D amends the Schedule 13D initially filed
on
August 23, 2007, as amended by Amendment No. 1 filed November 8, 2007
and
Amendment No. 2 filed November 16, 2007 (as amended, the “Schedule
13D”).
Item
4. Purpose of the Transaction.
Item
4 of
the Schedule 13D is amended and updated by adding the following:
The
Reporting Persons are filing this Amendment No. 3 to Schedule 13D to
report a
change in their intentions. On December 6, 2007, Delta Financial
Corporation (the “Company”) issued a press release stating that it does not
expect to be able to consummate the transactions contemplated by the
letter of
intent dated November 15, 2007 (the “Letter of Intent”) between the Company and
AG Special Situation Corp. (“AGSSC”), an affiliate of Angelo, Gordon & Co.,
L.P., and that the Company intends to file for protection under the
federal
bankruptcy code. Following the issuance of the press release, AGSSC
provided notice to the Company that it is no longer pursuing the transactions
contemplated by the Letter of Intent. The Reporting Persons intend to
evaluate on an ongoing basis the investment in the Company and their
options
with respect to such investment.
The
Reporting Persons may make, or cause to be made, further acquisitions
of common
stock (or securities convertible into common stock) of the Company from
time to
time and may dispose of, or cause to be disposed of, any or all of such
common
stock held by the Reporting Persons at any time.
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.
Cusip
No. 247918105
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Page
6 of 6 Pages
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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:
December 6, 2007
ANGELO,
GORDON & CO.,
L.P.
By:
/s/
Michael L.
Gordon
Name:
Michael L. Gordon
Title:
Chief Operating
Officer
JOHN
M. ANGELO
/s/
John M.
Angelo
MICHAEL
L. GORDON
/s/
Michael L. Gordon
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