UNITED STATES
SECURITIES EXCHANGE COMMISSION
Washington, D.C. 20549
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SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. )
HEALTH FITNESS CORPORATION
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(Name of Issuer)
Common Stock, $0.01 par value per share
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(Title of Class of Securities)
42217V102
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(CUSIP Number)
December 31, 2006
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(Date of Event which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:
[ X ] Rule 13d-1(b)
[ ] Rule 13d-1(c)
[ ] Rule 13d-1(d)
* 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 the disclosures provided in a prior cover page.
The information required in 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).
Continued on following pages
Page 1 of 11 Pages
Exhibit Index: Page 10
SCHEDULE 13G
CUSIP No.: 42217V102 Page 2 of 11 Pages
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1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
MAGNETAR FINANCIAL LLC
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2. Check the Appropriate Box if a Member of a Group
(a) [ ]
(b) [ ]
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3. SEC Use Only
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4. Citizenship or Place of Organization
Delaware
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Number of 5. Sole Voting Power 1,571,400(1)
Shares ----------------------------------------------------------
Beneficially 6. Shared Voting Power None
Owned by Each ----------------------------------------------------------
Reporting 7. Sole Dispositive Power 1,571,400(1)
Person With ----------------------------------------------------------
8. Shared Dispositive Power None
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9. Aggregate Amount Beneficially Owned by Each Reporting Person
1,571,400(1)
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10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions)
[ ]
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11. Percent of Class Represented by Amount in Row (9)
9.99%(1) based on 19,001,771 shares outstanding as of November 10, 2006.
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12. Type of Reporting Person:
IA; OO
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(1) In addition, the Reporting Person may also be deemed to be the beneficial
owner of certain warrants to acquire 374,850 Shares. The warrants, which are
exercisable immediately at the option of the holder, are subject to so-called
"blocker" provisions prohibiting the holder from exercising the warrants to
the extent that such exercise would result in the holder being deemed the
beneficial owner of more than 9.99% of the Shares then issued and outstanding.
SCHEDULE 13G
CUSIP No.: 42217V102 Page 3 of 11 Pages
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1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
MAGNETAR CAPITAL PARTNERS LP
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2. Check the Appropriate Box if a Member of a Group
(a) [ ]
(b) [ ]
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3. SEC Use Only
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4. Citizenship or Place of Organization
Delaware
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Number of 5. Sole Voting Power None
Shares ----------------------------------------------------------
Beneficially 6. Shared Voting Power 1,571,400(1)
Owned by Each ----------------------------------------------------------
Reporting 7. Sole Dispositive Power None
Person With ----------------------------------------------------------
8. Shared Dispositive Power 1,571,400(1)
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9. Aggregate Amount Beneficially Owned by Each Reporting Person
1,571,400(1)
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10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions)
[ ]
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11. Percent of Class Represented by Amount in Row (9)
9.99%(1) based on 19,001,771 shares outstanding as of November 10, 2006.
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12. Type of Reporting Person:
HC; OO
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(1) In addition, the Reporting Person may also be deemed to be the beneficial
owner of certain warrants to purchase 374,850 Shares. The warrants, which
are exercisable immediately at the option of the holder, are subject to
so-called "blocker" provisions prohibiting the holder from exercising the
warrants to the extent that such exercise would result in the holder being
deemed the beneficial owner of more than 9.99% of the Shares then issued and
outstanding.
SCHEDULE 13G
CUSIP No.: 42217V102 Page 4 of 11 Pages
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1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
SUPERNOVA MANAGEMENT LLC
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2. Check the Appropriate Box if a Member of a Group
(a) [ ]
(b) [ ]
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3. SEC Use Only
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4. Citizenship or Place of Organization
Delaware
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Number of 5. Sole Voting Power None
Shares ----------------------------------------------------------
Beneficially 6. Shared Voting Power 1,571,400(1)
Owned by Each ----------------------------------------------------------
Reporting 7. Sole Dispositive Power None
Person With ----------------------------------------------------------
8. Shared Dispositive Power 1,571,400(1)
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9. Aggregate Amount Beneficially Owned by Each Reporting Person
1,571,400(1)
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10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions)
[ ]
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11. Percent of Class Represented by Amount in Row (9)
9.99%(1) based on 19,001,771 shares outstanding as of November 10, 2006.
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12. Type of Reporting Person:
HC; OO
------------
(1) In addition, the Reporting Person may also be deemed to be the beneficial
owner of certain warrants to purchase 374,850 Shares. The warrants, which
are exercisable immediately at the option of the holder, are subject to
so-called "blocker" provisions prohibiting the holder from exercising the
warrants to the extent that such exercise would result in the holder being
deemed the beneficial owner of more than 9.99% of the Shares then issued and
outstanding.
SCHEDULE 13G
CUSIP No.: 42217V102 Page 5 of 11 Pages
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1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
ALEC N. LITOWITZ
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2. Check the Appropriate Box if a Member of a Group
(a) [ ]
(b) [ ]
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3. SEC Use Only
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4. Citizenship or Place of Organization
United States of America
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Number of 5. Sole Voting Power None
Shares ----------------------------------------------------------
Beneficially 6. Shared Voting Power 1,571,400(1)
Owned by Each ----------------------------------------------------------
Reporting 7. Sole Dispositive Power None
Person With ----------------------------------------------------------
8. Shared Dispositive Power 1,571,400(1)
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9. Aggregate Amount Beneficially Owned by Each Reporting Person
1,571,400(1)
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10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions)
[ ]
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11. Percent of Class Represented by Amount in Row (9)
9.99%(1) based on 19,001,771 shares outstanding as of November 10, 2006.
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12. Type of Reporting Person:
HC
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(1) In addition, the Reporting Person may also be deemed to be the beneficial
owner of certain warrants to purchase 374,850 Shares. The warrants, which
are exercisable immediately at the option of the holder, are subject to
so-called "blocker" provisions prohibiting the holder from exercising the
warrants to the extent that such exercise would result in the holder being
deemed the beneficial owner of more than 9.99% of the Shares then issued and
outstanding.
Page 6 of 11 Pages
Item 1(a) Name of Issuer:
Health Fitness Corporation (the "Issuer")
Item 1(b) Address of Issuer's Principal Executive Offices:
3600 American Boulevard West, Bloomington, Minnesota 55431
Item 2(a) Name of Person Filing:
This Statement is filed on behalf of each of the following persons
(collectively, the "Reporting Persons"):
i) Magnetar Financial LLC ("Magnetar Financial");
ii) Magnetar Capital Partners LP ("Magnetar Capital Partners");
iii) Supernova Management LLC ("Supernova Management"); and
iv) Alec N. Litowitz ("Mr. Litowitz").
This Statement relates to Shares (as defined herein) and warrants
to acquire Shares (the "Warrants") held for the accounts of Magnetar Capital
Master Fund, Ltd, a Cayman Islands exempted company ("Magnetar Capital Master
Fund"). Magnetar Capital Partners serves as the sole member and parent holding
company of Magnetar Financial. Magnetar Financial is a registered investment
adviser under Section 203 of the Investment Advisers Act of 1940, as amended.
Magnetar Financial serves as investment adviser to Magnetar Capital Master
Fund. In such capacity, Magnetar Financial exercises voting and investment
power over the Shares held for the account of Magnetar Capital Master Fund.
Supernova Management is the general partner of Magnetar Capital Partners. The
manager of Supernova Management is Mr. Litowitz.
Item 2(b) Address of Principal Business Office or, if None, Residence:
The address of the principal business office of each of Magnetar
Financial, Magnetar Capital Partners, Supernova Management, and Mr. Litowitz
is 1603 Orrington Avenue, 13th Floor, Evanston, Illinois 60201.
Item 2(c) Citizenship:
i) Magnetar Financial is a Delaware limited liability company;
ii) Magnetar Capital Partners is a Delaware limited partnership;
iii) Supernova Management is a Delaware limited liability
company; and
iv) Mr. Litowitz is a citizen of the United States of America.
Page 7 of 11 Pages
Item 2(d). Title of Class of Securities:
Common Stock, $0.01 par value per share (the "Shares")
Item 2(e). CUSIP Number:
42217V102
Item 3. If This Statement is Filed Pursuant to ss.ss.240.13d-1(b) or
240.13d-2(b) or (c), Check Whether the Person Filing is a:
(a) [ ] Broker or dealer registered under Section 15 of the
Exchange Act.
(b) [ ] Bank as defined in Section 3(a)(6) of the Exchange Act.
(c) [ ] Insurance company as defined in Section 3(a)(19) of the
Exchange Act.
(d) [ ] Investment company registered under Section 8 of the
Investment Company Act.
(e) [X] An investment adviser in accordance with Rule
13d-1(b)(1)(ii)(E);
(f) [ ] An employee benefit plan or endowment fund in accordance
with Rule 13d-1(b)(1)(ii)(F).
(g) [ ] A parent holding company or control person in accordance
with Rule 13d-1(b)(1)(ii)(G).
(h) [ ] A savings association as defined in Section 3(b) of the
Federal Deposit Insurance Act.
(i) [ ] A church plan that is excluded from the definition of an
investment company under Section 3(c)(14) of the
Investment Company Act.
Item 4. Ownership:
Item 4(a) Amount Beneficially Owned:
As of February 5, 2007, each of Magnetar Financial, Magnetar
Capital Partners, Supernova Management and Mr. Litowitz may be deemed to be
the beneficial owner of the 1,571,400 Shares held for the account of Magnetar
Capital Master Fund.
In addition, the Reporting Person may be deemed to be the
beneficial owner of certain warrants to acquire 374,850 Shares. The warrants,
which are exercisable immediately at the option of the holder, are subject to
so-called "blocker" provisions prohibiting the holder from exercising the
warrants to the extent that such exercise would result in the holder being
deemed the beneficial owner of more than 9.99% of the Shares then issued and
outstanding.
Item 4(b) Percent of Class:
The number of Shares of which each of Magnetar Financial, Magnetar
Capital Partners, Supernova Management and Mr. Litowitz may be deemed to be
the beneficial owner constitutes approximately 9.99% of the total number of
Shares outstanding (based upon information provided by the Issuer in its
quarterly report on Form 10-Q filed on November 14, 2006, there were
approximately 19,001,771 shares outstanding as of November 10, 2006).
Item 4(c) Number of Shares of which such person has:
Magnetar Financial:
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(i) Sole power to vote or direct the vote: 1,571,400(1)
(ii) Shared power to vote or direct the vote: 0
(iii) Sole power to dispose or direct the 1,571,400(1)
disposition of:
(iv) Shared power to dispose or direct the 0
disposition of:
Magnetar Capital Partners, Supernova Management, and Mr. Litowitz:
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(i) Sole power to vote or direct the vote: 0
(ii) Shared power to vote or direct the vote: 1,571,400(1)
(iii) Sole power to dispose or direct the 0
disposition of:
(iv) Shared power to dispose or direct the 1,571,400(1)
disposition of:
Item 5. Ownership of Five Percent or Less of a Class:
This Item 5 is not applicable.
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(1) In addition, the Reporting Person may be deemed to be the beneficial owner
of certain warrants to purchase 374,850 Shares. The warrants, which are
exercisable immediately at the option of the holder, are subject to so-called
"blocker" provisions prohibiting the holder from exercising the warrants to
the extent that such exercise would result in the holder being deemed the
beneficial owner of more than 9.99% of the Shares then issued and outstanding.
Page 8 of 11 Pages
Item 6. Ownership of More than Five Percent on Behalf of Another Person:
This Item 6 is not applicable.
Item 7. Identification and Classification of the Subsidiary Which Acquired
the Security Being Reported on By the Parent Holding Company:
See disclosure in Item 2 hereof.
Item 8. Identification and Classification of Members of the Group:
This Item 8 is not applicable.
Item 9. Notice of Dissolution of Group:
This Item 9 is not applicable.
Item 10. Certification:
By signing below each of the Reporting Persons certifies that, to
the best of their knowledge and belief, the securities referred to above were
not acquired and are not held for the purpose of or with the effect of
changing or influencing the control of the issuer of the securities and were
not acquired and are not held in connection with or as a participant in any
transaction having that purpose or effect.
Page 9 of 11 Pages
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.
Date: February 14, 2007 MAGNETAR FINANCIAL LLC
By: Magnetar Capital Partners LP
As Sole Member
By: /s/ Alec N. Litowitz
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Name: Alec N. Litowitz
Title: Manager of Supernova Management
LLC, as General Partner of
Magnetar Capital Partners LP
Date: February 14, 2007 MAGNETAR CAPITAL PARTNERS LP
By: /s/ Alec N. Litowitz
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Name: Alec N. Litowitz
Title: Manager of Supernova Management
LLC, as General Partner of
Magnetar Capital Partners LP
Date: February 14, 2007 SUPERNOVA MANAGEMENT LLC
By: /s/ Alec N. Litowitz
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Name: Alec N. Litowitz
Title: Manager
Date: February 14, 2007 ALEC N. LITOWITZ
/s/ Alec N. Litowitz
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Page 10 of 11 Pages
EXHIBIT INDEX
Ex. Page No.
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A. Joint Filing Agreement, dated February 14, 2007 by and among
Magnetar Financial LLC, Magnetar Capital Partners LP,
Supernova Management LLC, and Alec N. Litowitz ...................... 11
Page 11 of 11 Pages
EXHIBIT A
JOINT FILING AGREEMENT
The undersigned hereby agree that the statement on Schedule 13G
with respect to the Common Stock of Health Fitness Corporation dated as of
February 14, 2007 is, and any amendments thereto (including amendments on
Schedule 13D) signed by each of the undersigned shall be, filed on behalf of
each of us pursuant to and in accordance with the provisions of Rule 13d-1(k)
under the Securities Exchange Act of 1934, as amended.
Date: February 14, 2007 MAGNETAR FINANCIAL LLC
By: Magnetar Capital Partners LP
As Sole Member
By: /s/ Alec N. Litowitz
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Name: Alec N. Litowitz
Title: Manager of Supernova Management
LLC, as General Partner of
Magnetar Capital Partners LP
Date: February 14, 2007 MAGNETAR CAPITAL PARTNERS LP
By: /s/ Alec N. Litowitz
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Name: Alec N. Litowitz
Title: Manager of Supernova Management
LLC, as General Partner of
Magnetar Capital Partners LP
Date: February 14, 2007 SUPERNOVA MANAGEMENT LLC
By: /s/ Alec N. Litowitz
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Name: Alec N. Litowitz
Title: Manager
Date: February 14, 2007 ALEC N. LITOWITZ
/s/ Alec N. Litowitz
------------------------------