UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D/A
Under the Securities Exchange Act of 1934
Amendment No. 2
GSI Group Inc.
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(Name of Issuer)
Common Stock, no par value
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(Title of Class of Securities)
36229U102
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(CUSIP Number)
Stephanie S. Chen
c/o Tinicum Lantern II L.L.C.
800 Third Avenue, 40th Floor
New York, NY 10022
212-446-9300
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(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
March 12, 2010
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(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.
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* 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).
(Continued on following pages)
(Page 1 of 7 Pages)
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CUSIP No. 36229U102 SCHEDULE 13D/A Page 2 of 7 Pages
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1 NAME OF REPORTING PERSON
Tinicum Capital Partners II, L.P.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_| (b) |X|
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
WC, OO
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5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) |_|
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF 7 SOLE VOTING POWER
SHARES 0
----------- -----------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED 418,464
----------- -----------------------------------------------------
BY EACH 9 SOLE DISPOSITIVE POWER
REPORTING 0
----------- -----------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
418,464
------------- ----------- -----------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
418,464
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12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES |_|
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
0.8% (see Item 4)
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14 TYPE OF REPORTING PERSON
PN
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CUSIP No. 36229U102 SCHEDULE 13D/A Page 3 of 7 Pages
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1 NAME OF REPORTING PERSON
Tinicum Lantern II L.L.C.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_| (b) |X|
------------- -----------------------------------------------------------------
3 SEC USE ONLY
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4 SOURCE OF FUNDS
AF
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5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) |_|
------------- -----------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
------------- -----------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 0
----------- -----------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED 418,464
----------- -----------------------------------------------------
BY EACH 9 SOLE DISPOSITIVE POWER
REPORTING 0
----------- -----------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
418,464
------------- ----------- -----------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
418,464
------------- -----------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES |_|
------------- -----------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
0.8% (see Item 4)
------------- -----------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
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CUSIP No. 36229U102 SCHEDULE 13D/A Page 4 of 7 Pages
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1 NAME OF REPORTING PERSON
Terence M. O'Toole
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_| (b) |X|
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
AF
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5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) |_|
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
------------- -----------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 0
----------- -----------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED 418,464
----------- -----------------------------------------------------
BY EACH 9 SOLE DISPOSITIVE POWER
REPORTING 0
----------- -----------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
418,464
------------- ----------- -----------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
418,464
------------- -----------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES |_|
------------- -----------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
0.8% (see Item 4)
------------- -----------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
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CUSIP No. 36229U102 SCHEDULE 13D/A Page 5 of 7 Pages
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1 NAME OF REPORTING PERSON
Eric M. Ruttenberg
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_| (b) |X|
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
AF
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5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) |_|
------------- -----------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
------------- -----------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 0
----------- -----------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED 418,464
----------- -----------------------------------------------------
BY EACH 9 SOLE DISPOSITIVE POWER
REPORTING 0
----------- -----------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
418,464
------------- ----------- -----------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
418,464
------------- -----------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES |_|
------------- -----------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
0.8% (see Item 4)
------------- -----------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
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CUSIP No. 36229U102 SCHEDULE 13D/A Page 6 of 7 Pages
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ITEM 1. SECURITY AND ISSUER
This Amendment No. 2 (the "Amendment") amends the statement on Schedule 13D
filed on January 13, 2010 (the "Original Schedule 13D", as amended hereby and by
Amendment No. 1 filed on March 3,2010, the "Schedule 13D") with respect to the
common stock, no par value (the "Shares"), of GSI Group Inc., a company
continued and existing under the laws of the Province of New Brunswick, Canada
(the "Issuer"). Capitalized terms used herein and not otherwise defined in this
Amendment have the meanings set forth in the Schedule 13D. This Amendment amends
Item 4 as set forth below.
ITEM 4. PURPOSE OF TRANSACTION
Item 4 of the Schedule 13D is hereby amended and supplemented by the addition of
the following:
On March 12, 2010 TCP II and the other Consenting Noteholders reached an
agreement in principle with the Issuer Parties as to modifications to the Plan
Support Agreement and the Plan.
Pursuant to the modified Plan, the Noteholders would receive, in exchange for
their Notes, new convertible preferred stock of the reorganized Issuer (the
"Preferred Stock") and New Senior Secured Notes. The Preferred Stock, on an
as-converted basis, would represent approximately 53.8% of the Issuer's
post-consummation outstanding common shares. The Preferred Stock would have a 1x
liquidation preference and be mandatorily redeemable after 8 years for cash or,
if certain conditions are met, common shares of the reorganized Issuer. The
holders of the Preferred Stock would vote on an as converted basis together with
the holders of common shares. In addition, pursuant to the modified Plan, the
aggregate principal amount of New Senior Secured Notes being issued to the
Noteholders will be approximately $110,000,000, increased from $95,000,000.
The modifications to the Plan will also include (i) increasing the recovery of
existing equity holders of the Issuer from 18.6% of the Issuer's
post-consummation outstanding common shares to 41.1%, which would be issued in
common shares of the reorganized Issuer and (ii) issuing one series of
three-year warrants to existing equity holders of the Issuer exercisable into a
number of common shares equal to 10% of 110% of the Issuer's post-consummation
outstanding common shares, with a strike price of $2.50, rather than two series
of warrants each for 10% of 110% of the Issuer's post-consummation outstanding
common shares, with a strike price of $1.10 and $2.00 respectively.
The parties anticipate entering into a modified Plan Support Agreement, under
which the Noteholders would agree to support the modifications to the Plan as
summarized above.
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CUSIP No. 36229U102 SCHEDULE 13D Page 7 of 7 Pages
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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.
Dated: March 16, 2010
/s/ Eric M. Ruttenberg
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TINICUM LANTERN II L.L.C.,
On its own behalf and
as the General Partner of
TINICUM CAPITAL PARTNERS II, L.P.
By Eric M. Ruttenberg,
Managing Member
/s/ Terence M. O'Toole
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Terence M. O'Toole
/s/ Eric M. Ruttenberg
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Eric M. Ruttenberg