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)(1)
Origen Financial, Inc.
----------------------
(Name of Issuer)
Common Stock, $0.01 Par Value
-----------------------------
(Title of Class of Securities)
68619E208
---------
(CUSIP Number)
JEREMY MINDICH
c/o Scopia Capital LLC
450 Seventh Avenue
New York, New York 10123
(212) 370-0303
--------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
March 26, 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-7 for other
parties to whom copies are to be sent.
(Continued on following pages)
(Page 1 of 18 Pages)
----------
(1) 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. 68619E208 13D Page 2 of 18 Pages
------------------- -------------------
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
SCOPIA PARTNERS LLC
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [_]
(b) [_]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS:*
WC
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) [_]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
60,315
NUMBER OF ----------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY - 0 -
OWNED BY ----------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 60,315
PERSON WITH ----------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- 0 -
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY
EACH REPORTING PERSON
60,315
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES* [_]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
<1%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
------------------- -------------------
CUSIP No. 68619E208 13D Page 3 of 18 Pages
------------------- -------------------
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
SCOPIA PARTNERS QP LLC
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [_]
(b) [_]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS:*
WC
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) [_]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
136,374
NUMBER OF ----------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY - 0 -
OWNED BY ----------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 136,374
PERSON WITH ----------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- 0 -
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY
EACH REPORTING PERSON
136,374
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES* [_]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
<1%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
------------------- -------------------
CUSIP No. 68619E208 13D Page 4 of 18 Pages
------------------- -------------------
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
SCOPIA PX LLC
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [_]
(b) [_]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS:*
WC
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) [_]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
569,575
NUMBER OF ----------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY - 0 -
OWNED BY ----------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 569,575
PERSON WITH ----------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- 0 -
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY
EACH REPORTING PERSON
569,575
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES* [_]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.2%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
------------------- -------------------
CUSIP No. 68619E208 13D Page 5 of 18 Pages
------------------- -------------------
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
SCOPIA LONG LLC
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [_]
(b) [_]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS:*
WC
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) [_]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
52,394
NUMBER OF ----------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY - 0 -
OWNED BY ----------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 52,394
PERSON WITH ----------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- 0 -
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY
EACH REPORTING PERSON
52,394
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES* [_]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
<1%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
------------------- -------------------
CUSIP No. 68619E208 13D Page 6 of 18 Pages
------------------- -------------------
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
SCOPIA INTERNATIONAL LIMITED
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [_]
(b) [_]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS:*
WC
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) [_]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
BERMUDA
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
140,123
NUMBER OF ----------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY - 0 -
OWNED BY ----------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 140,123
PERSON WITH ----------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- 0 -
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY
EACH REPORTING PERSON
140,123
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES* [_]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
<1%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
------------------- -------------------
CUSIP No. 68619E208 13D Page 7 of 18 Pages
------------------- -------------------
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
SCOPIA PX INTERNATIONAL LIMITED
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [_]
(b) [_]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS:*
WC
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) [_]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
BERMUDA
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
291,219
NUMBER OF ----------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY - 0 -
OWNED BY ----------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 291,219
PERSON WITH ----------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- 0 -
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY
EACH REPORTING PERSON
291,219
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES* [_]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.1%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
------------------- -------------------
CUSIP No. 68619E208 13D Page 8 of 18 Pages
------------------- -------------------
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
SCOPIA MANAGEMENT INC.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [_]
(b) [_]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS:*
AF
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) [_]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
NEW YORK
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
1,250,000
NUMBER OF ----------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY - 0 -
OWNED BY ----------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 1,250,000
PERSON WITH ----------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- 0 -
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY
EACH REPORTING PERSON
1,250,000
--------------------------------------------------------------------------------
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*
CO, IA
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
------------------- -------------------
CUSIP No. 68619E208 13D Page 9 of 18 Pages
------------------- -------------------
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
SCOPIA CAPITAL LLC
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [_]
(b) [_]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS:*
AF
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) [_]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
818,658
NUMBER OF ----------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY - 0 -
OWNED BY ----------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 818,658
PERSON WITH ----------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- 0 -
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY
EACH REPORTING PERSON
818,658
--------------------------------------------------------------------------------
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
--------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
------------------- -------------------
CUSIP No. 68619E208 13D Page 10 of 18 Pages
------------------- -------------------
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
MATTHEW SIROVICH
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [_]
(b) [_]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS:*
AF
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) [_]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
1,250,000
NUMBER OF ----------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY - 0 -
OWNED BY ----------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 1,250,000
PERSON WITH ----------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- 0 -
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY
EACH REPORTING PERSON
1,250,000
--------------------------------------------------------------------------------
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. 68619E208 13D Page 11 of 18 Pages
------------------- -------------------
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
JEREMY MINDICH
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [_]
(b) [_]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS:*
AF
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) [_]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
1,250,000
NUMBER OF ----------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY - 0 -
OWNED BY ----------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 1,250,000
PERSON WITH ----------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- 0 -
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY
EACH REPORTING PERSON
1,250,000
--------------------------------------------------------------------------------
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. 68619E208 13D Page 12 of 18 Pages
------------------- -------------------
The following constitutes the Schedule 13D filed by the undersigned (the
"Schedule 13D").
Item 3 is amended in its entirety to read as follows:
Item 3. Source and Amount of Funds or Other Consideration.
The aggregate purchase price of the 60,315 shares of Common Stock
purchased by Scopia Partners and reported in this Schedule 13D is approximately
$386,768 (includes brokerage commissions). Purchases to date by Scopia Partners
of the shares reported herein as beneficially owned have been made from Scopia
Partners' working capital and any and all shares of Common Stock to be acquired
in the future shall be effected with Scopia Partners' working capital.
The aggregate purchase price of the 136,374 shares of Common Stock
purchased by Scopia QP and reported in this Schedule 13D is approximately
$862,643 (includes brokerage commissions). Purchases to date by Scopia QP of the
shares reported herein as beneficially owned have been made from Scopia QP's
working capital and any and all shares of Common Stock to be acquired in the
future shall be effected with Scopia QP's working capital.
The aggregate purchase price of the 569,575 shares of Common Stock
purchased by Scopia PX and reported in this Schedule 13D is approximately
$3,424,038 (includes brokerage commissions). Purchases to date by Scopia PX of
the shares reported herein as beneficially owned have been made from Scopia PX's
working capital and any and all shares of Common Stock to be acquired in the
future shall be effected with Scopia PX's working capital.
The aggregate purchase price of the 52,394 shares of Common Stock
purchased by Scopia Long and reported in this Schedule 13D is approximately
$321,969 (includes brokerage commissions). Purchases to date by Scopia Long of
the shares reported herein as beneficially owned have been made from Scopia
Long's working capital and any and all shares of Common Stock to be acquired in
the future shall be effected with Scopia Long's working capital.
The aggregate purchase price of the 140,123 shares of Common Stock
purchased by Scopia International and reported in this Schedule 13D is
approximately $853,523 (includes brokerage commissions). Purchases to date by
Scopia International of the shares reported herein as beneficially owned have
been made from Scopia International's working capital and any and all shares of
Common Stock to be acquired in the future shall be effected with Scopia
International's working capital.
The aggregate purchase price of the 291,219 shares of Common Stock
purchased by Scopia PX International and reported in this Schedule 13D is
approximately $1,818,174 (includes brokerage commissions). Purchases to date by
Scopia PX International of the Shares reported herein as beneficially owned have
been made from Scopia PX International's working capital and any and all shares
of Common Stock to be acquired in the future shall be effected with Scopia
International's working capital.
------------------- -------------------
CUSIP No. 68619E208 13D Page 13 of 18 Pages
------------------- -------------------
Items 5(a) (b) (c) and (e) are amended in their entirety to reads as
follows:
Item 5. Interest in Securities of the Issuer.
(a) As of the close of business on March 26, 2007, (i) Scopia Partners
owns 60,315 shares of Common Stock which constitutes less than 1% of the
outstanding shares of Common Stock (based upon 25,865,401 shares of Common Stock
outstanding as of March 1, 2007, as reported in the Issuer's Annual Report for
the period ended December 31, 2006 on Form 10-K filed with the Securities and
Exchange Commission on March 15, 2007) (the "Outstanding Shares"), (ii) Scopia
QP owns 136,374 shares Common Stock which constitutes less than 1% of the
Outstanding Shares, (iii) Scopia PX owns 569,575 shares of Common Stock which
constitutes approximately 2.2% of the Outstanding Shares, (iv) Scopia Long owns
52,394 shares of Common Stock which constitutes less than 1% of the Outstanding
Shares, (v) Scopia International owns 140,123 shares of Common Stock which
constitutes less than 1% of the Outstanding Shares, and (vi) Scopia PX
International owns 291,219 shares of Common Stock which constitutes
approximately 1.1% of the Outstanding Shares. As managing member of each of the
Scopia Domestic Funds, Scopia Capital may be deemed to own beneficially in the
aggregate 818,658 shares of Common Stock or 3.2% of the Outstanding Shares. As
investment manager of each of the Scopia Funds, Scopia Management may be deemed
to own beneficially in the aggregate 1,250,000 shares of Common Stock which
constitutes approximately 4.8% of the Outstanding Shares. Jeremy Mindich and
Matthew Sirovich, as President and Executive Vice President of Scopia
Management, respectively, may be deemed to own beneficially in the aggregate
1,250,000 shares of Common Stock which constitutes approximately 4.8% of the
Outstanding Shares.
Each of Matthew Sirovich, Jeremy Mindich, Scopia Management and Scopia
Capital disclaims beneficial ownership of the shares of Common Stock held by
each of the Scopia Funds except to the extent of his/its respective pecuniary
interest therein.
(b) Each of the Scopia Funds has the sole power to vote and dispose of the
shares of Common Stock it owns as reported in this Schedule 13D. Scopia
Management and Messrs. Matthew Sirovich and Jeremy Mindich, as the investment
manager of each of the Scopia Funds and as executive officer of Scopia
Management, respectively, has the power to vote and dispose of the shares of
Common Stock held by each of the Scopia Funds reported in this Schedule 13D.
Scopia Capital, as the managing member of the Scopia Domestic Funds, has the
power to vote and dispose of the shares of Common Stock held by each of the
Scopia Domestic Funds.
(c) Schedule B annexed hereto lists all transactions in the Shares during
the past sixty days by the Reporting Persons. All of such transactions were
effected in the open market.
(d) No person other than the Reporting Persons is known to have the right
to receive, or the power to direct the receipt of dividends from, or proceeds
from the sale of, the shares of Common Stock.
------------------- -------------------
CUSIP No. 68619E208 13D Page 14 of 18 Pages
------------------- -------------------
(e) As of March 26, 2007, the Reporting Persons ceased to be beneficial
owners of more than 5% of the shares of Common Stock of the Issuer.
------------------- -------------------
CUSIP No. 68619E208 13D Page 15 of 18 Pages
------------------- -------------------
SIGNATURES
After reasonable inquiry and to the best of his knowledge and belief, each
of the undersigned certifies that the information set forth in this statement is
true, complete and correct.
Dated: March 27, 2007 SCOPIA PARTNERS LLC
By: Scopia Management Inc.
By: /s/ Jeremy Mindich
------------------------------
Name: Jeremy Mindich
Title: President
SCOPIA PARTNERS QP LLC
By: Scopia Management Inc.
By: /s/ Jeremy Mindich
------------------------------
Name: Jeremy Mindich
Title: President
SCOPIA PX LLC
By: Scopia Management Inc.
By: /s/ Jeremy Mindich
------------------------------
Name: Jeremy Mindich
Title: President
SCOPIA LONG LLC
By: Scopia Management Inc.
By: /s/ Jeremy Mindich
------------------------------
Name: Jeremy Mindich
Title: President
SCOPIA INTERNATIONAL LIMITED
By: /s/ Matthew Sirovich
------------------------------
Name: Matthew Sirovich
Title: Director
------------------- -------------------
CUSIP No. 68619E208 13D Page 16 of 18 Pages
------------------- -------------------
SCOPIA PX INTERNATIONAL LIMITED
By: /s/ Matthew Sirovich
------------------------------
Name: Matthew Sirovich
Title: Director
SCOPIA MANAGEMENT INC.
By: /s/ Jeremy Mindich
------------------------------
Name: Jeremy Mindich
Title: President
SCOPIA CAPITAL LLC
By: /s/ Matthew Sirovich
------------------------------
Name: Matthew Sirovich
Title: Managing Partner
/s/ MATTHEW SIROVICH
------------------------------
MATTHEW SIROVICH
/s/ JEREMY MINDICH
------------------------------
JEREMY MINDICH
------------------- -------------------
CUSIP No. 68619E208 13D Page 17 of 18 Pages
------------------- -------------------
SCHEDULE B
List of transactions in the past 60 days from the date of this Schedule
13D Amendment
Date Quantity Purchased/(Sold) Price of Purchase/(Sale)
--------- ---------------------------- ------------------------
SCOPIA PARTNERS LLC
3/22/2007 (9,538) ($6.29)
3/23/2007 (44,525) ($6.50)
3/26/2007 (9,240) ($6.90)
SCOPIA PARTNERS QP LLC
3/22/2007 (24,256) ($6.29)
3/23/2007 (104,709) ($6.50)
3/26/2007 (20,893) ($6.90)
SCOPIA PX LLC
3/22/2007 (93,944) ($6.29)
3/23/2007 (426,269) ($6.50)
3/26/2007 (87,260) ($6.90)
SCOPIA LONG LLC
None
SCOPIA INTERNATIONAL LIMITED
3/22/2007 (23,545) ($6.29)
3/23/2007 (105,520) ($6.50)
3/26/2007 (21,467) ($6.90)
SCOPIA PX INTERNATIONAL LLC
3/22/2007 (48,717) ($6.29)
3/23/2007 (218,977) ($6.50)
3/26/2007 (44,615) ($6.90)
SCOPIA MANAGEMENT INC.
None
SCOPIA CAPITAL LLC
None
------------------- -------------------
CUSIP No. 68619E208 13D Page 18 of 18 Pages
------------------- -------------------
Date Quantity Purchased/(Sold) Price of Purchase/(Sale)
--------- ---------------------------- ------------------------
MATTHEW SIROVICH
None
JEREMY MINDICH
None