Insider filing report for Changes in Beneficial Ownership
- Schedule 13G & 13D forms are used to report a party's ownership of stock which exceeds 5% of a company's total stock issue.
- Schedule 13G is a shorter version of Schedule 13D with fewer reporting requirements.
"Insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise"
- Peter Lynch
What is insider trading>>
- Peter Lynch
What is insider trading>>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 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)
Under the Securities Exchange Act of 1934
(Amendment No. 9)*
GenCorp Inc.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, par value $0.10 per share
- --------------------------------------------------------------------------------
(Title of Class of Securities)
368682100
- --------------------------------------------------------------------------------
(CUSIP Number)
Thomas R. Hudson Jr.
Pirate Capital LLC
200 Connecticut Avenue, 4th Floor
Norwalk, CT 06854
(203) 854-1100
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
June 5, 2007
- --------------------------------------------------------------------------------
(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-8 for
other parties to whom copies are to be sent.
(Continued on following pages)
(Page 1 of 5 Pages)
- --------------------------
* 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).
- ------------------------------ ---------------------
CUSIP NO. 368682100 SCHEDULE 13D PAGE 2 OF 5 PAGES
- ------------------------------ ---------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
PIRATE CAPITAL LLC
- --------------------------------------------------------------------------------
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 PROCEEDING IS REQUIRED PURSUANT TO
ITEM 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
-0-
----------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 2,715,309
OWNED BY
EACH ----------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON WITH
-0-
----------------------------------------------------------
10 SHARED DISPOSITIVE POWER
2,715,309
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
2,715,309
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.8%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IA
- --------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT!
- ------------------------------ ---------------------
CUSIP NO. 368682100 SCHEDULE 13D PAGE 3 OF 5 PAGES
- ------------------------------ ---------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
THOMAS R. HUDSON JR.
- --------------------------------------------------------------------------------
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 PROCEEDING IS REQUIRED PURSUANT TO
ITEM 2(d) or 2(e) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
-0-
----------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 2,715,309
OWNED BY
EACH ----------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON WITH
-0-
----------------------------------------------------------
10 SHARED DISPOSITIVE POWER
2,715,309
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
2,715,309
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.8%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT!
- ------------------------------ ---------------------
CUSIP NO. 368682100 SCHEDULE 13D PAGE 4 OF 5 PAGES
- ------------------------------ ---------------------
The Schedule 13D filed on November 15, 2004 by Pirate Capital LLC, a Delaware
limited liability company ("Pirate Capital"), and Thomas R. Hudson Jr.
(together, the "Reporting Persons"), relating to the shares of common stock,
$0.10 par value ("Shares"), of GenCorp Inc. (the "Issuer"), as previously
amended by Amendment No. 1 filed on July 15, 2005, Amendment No.2 filed on
October 31, 2005, Amendment No. 3 filed on December 9, 2005, Amendment No. 4
filed on January 10, 2006, Amendment No. 5 filed on January 17, 2006, Amendment
No. 6 filed on January 30, 2006, Amendment No. 7 filed on February 21, 2006, and
Amendment No. 8 filed on May 23, 2007, is hereby amended by this Amendment No.
9. The principal executive office of the Issuer is located at 50 & Aerojet Road,
Rancho Cordova, California 95670.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
Item 3 of the Schedule 13D is hereby amended and restated as follows:
Funds for the purchase of the Shares were derived from available capital of the
Holders (as defined below). A total of approximately $47,221,408 was paid to
acquire the Shares reported herein.
ITEM 5. INTEREST IN SECURITIES OF THE COMPANY.
Paragraphs (a), (b), (c) and (e) of Item 5 of the Schedule 13D are hereby
amended and restated as follows:
(a) The Reporting Persons beneficially own 2,715,309 Shares,
constituting approximately 4.8% of the shares of Common Stock outstanding. The
percentage of shares of Common Stock reported to be beneficially owned by the
Reporting Persons are based upon 56,100,000 shares of Common Stock outstanding,
which is the total number of shares of Common Stock outstanding as reported in
the Issuer's Quarterly Report on Form 10-Q for the quarter ended February 28,
2007.
(b) By virtue of its position as general partner of Jolly Roger Fund
LP, Pirate Capital has the power to vote or direct the voting, and to dispose or
direct the disposition, of all of the 473,506 Shares held by Jolly Roger Fund
LP. By virtue of agreements with Jolly Roger Offshore Fund LTD and Jolly Roger
Activist Portfolio Company LTD (together with Jolly Roger Fund LP, the
"Holders"), Pirate Capital has the power to vote or direct the voting, and to
dispose or direct the disposition, of all of the 2,241,803 Shares held by Jolly
Roger Offshore Fund LTD and Jolly Roger Activist Portfolio Company LTD. By
virtue of his position as sole Manager of Pirate Capital, Thomas R. Hudson Jr.
is deemed to have shared voting power and shared dispositive power with respect
to all Shares as to which Pirate Capital has voting power or dispositive power.
Accordingly, Pirate Capital and Thomas R. Hudson Jr. are deemed to have shared
voting power and shared dispositive power with respect to an aggregate of
2,715,309 Shares.
(c) The following transactions in the Shares were effected by the
Reporting Persons since the last amendment to this Schedule 13D. All of the
Shares were purchased or sold in the open market.
Jolly Roger Offshore Fund LTD
Trade Date Shares Purchased (Sold) Price per Share ($)
- ---------- ----------------------- -------------------
5/22/2007 (3,300)* 12.50*
5/23/2007 (30,600) 13.71
5/24/2007 (15,000) 13.62
5/25/2007 (67,681) 13.60
5/29/2007 (25,210) 13.62
5/31/2007 (10,000) 13.54
6/1/2007 (115,000) 13.47
6/4/2007 (75,000) 13.20
6/5/2007 (345,000) 13.18
6/8/2007 (212,500) 13.10
*Assignment of call option
Jolly Roger Fund LP
Trade Date Shares Purchased (Sold) Price per Share ($)
- ---------- ----------------------- -------------------
6/8/2007 (212,500) 13.10
See also Item 6
(e) June 8, 2007
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
TO SECURITIES OF THE COMPANY
Item 6 of the Schedule 13D is hereby amended and restated as follows:
As set forth below, Jolly Roger Fund LP sold call options with respect to an
aggregate of 60,000 Shares, each of which was sold on the open market.
Date of Sale Shares Exercise Price
Underlying per Share Sale Price per
Options ($) Expiration Date Option ($)
- ------------------------------------------------------------------------------------------------------------------------
05/18/2007 32,500 12.50 06/15/2007 1.05
05/18/2007 17,500 12.50 06/15/2007 1.10
05/18/2007 10,000 12.50 06/15/2007 1.00
As set forth below, Jolly Roger Offshore Fund LTD sold call options with respect
to an aggregate of 234,800 Shares, each of which was sold on the open market.
Date of Sale Shares Exercise Price
Underlying per Share Sale Price per
Options ($) Expiration Date Option ($)
- ------------------------------------------------------------------------------------------------------------------------
05/21/2007 200,000 12.50 06/15/2007 1.17
05/30/2007 9,800 12.50 06/15/2007 1.05
06/04/2007 25,000 12.50 06/15/2007 0.70
As set forth below, Jolly Roger Activist Portfolio Company LTD sold call options
with respect to an aggregate of 40,000 Shares, each of which was sold on the
open market.
Date of Sale Shares Exercise Price
Underlying per Share Sale Price per
Options ($) Expiration Date Option ($)
- ------------------------------------------------------------------------------------------------------------------------
05/22/2007 40,000 12.50 06/15/2007 1.22
Except as otherwise set forth herein, the R
eporting Persons do not have any
contract, arrangement, understanding or relationship with any person with
respect to securities of the Company.
- --------------------------- -------------------
CUSIP NO. 368682100 SCHEDULE 13D PAGE 5 OF 5 PAGES
- --------------------------- -------------------
SIGNATURES
After reasonable inquiry and to the best of their knowledge and belief, each of
the undersigned certifies that the information set forth in this statement is
true, complete and correct.
Dated: June 8, 2007
PIRATE CAPITAL LLC
By: /s/ Thomas R. Hudson Jr.
---------------------------
Name: Thomas R. Hudson Jr.
Title: Managing Member
/s/ Thomas R. Hudson Jr.
-------------------------------
Thomas R. Hudson Jr.