UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1) *
W.R. Grace & Co.
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(Name of Issuer)
Common Stock, $0.01 Par Value
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(Title of Class of Securities)
38388F108
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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:
[ ] Rule 13d-1(b)
[X] 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).
Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a currently
valid OMB control number.
Page 1 of 6 pages
CUSIP No. 38388F108
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1. Names of Reporting Persons. Plainfield Special Situations
Master Fund Limited
I.R.S. Identification Nos. of above persons (entities only).
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [ ]
(b) [X]
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3. SEC Use Only
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4. Citizenship or Place of Organization Cayman Islands
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Number of 5. Sole Voting Power 100
Shares Bene- ---------------------------------------------------
ficially owned 6. Shared Voting Power 0
by Each ---------------------------------------------------
Reporting 7. Sole Dispositive Power 100
Person With: ---------------------------------------------------
8. Shared Dispositive Power 0
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9. Aggregate Amount Beneficially Owned by Each Reporting Person 100
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10. Check if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions) [ ]
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11. Percent of Class Represented by Amount in Row (9) 0.0000015%
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12. Type of Reporting Person (See Instructions) CO
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Page 2 of 6 pages
CUSIP No. 38388F108
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1. Names of Reporting Persons. Plainfield Asset Management LLC
I.R.S. Identification Nos. of above persons (entities only).
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [ ]
(b) [X]
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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 100
Shares Bene- ---------------------------------------------------
ficially owned 6. Shared Voting Power 0
by Each ---------------------------------------------------
Reporting 7. Sole Dispositive Power 100
Person With: ---------------------------------------------------
8. Shared Dispositive Power 0
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9. Aggregate Amount Beneficially Owned by Each Reporting Person 100
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10. Check if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions) [ ]
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11. Percent of Class Represented by Amount in Row (9) 0.0000015%
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12. Type of Reporting Person (See Instructions) OO
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Page 3 of 6 pages
CUSIP No. 38388F108
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1. Names of Reporting Persons. Max Holmes
I.R.S. Identification Nos. of above persons (entities only).
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [ ]
(b) [X]
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3. SEC Use Only
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4. Citizenship or Place of Organization United States
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Number of 5. Sole Voting Power 100
Shares Bene- ---------------------------------------------------
ficially owned 6. Shared Voting Power 0
by Each ---------------------------------------------------
Reporting 7. Sole Dispositive Power 100
Person With: ---------------------------------------------------
8. Shared Dispositive Power 0
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9. Aggregate Amount Beneficially Owned by Each Reporting Person 100
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10. Check if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions) [ ]
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11. Percent of Class Represented by Amount in Row (9) 0.0000015%
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12. Type of Reporting Person (See Instructions) IN
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Page 4 of 6 pages
This amendment No. 1 amends the Statement on Schedule 13G filed with the
Securities and Exchange Commission on February 14, 2006 by Special Situations
Master Fund Limited, a Cayman Islands corporation ("Master Fund"), Plainfield
Asset Management LLC, a Delaware limited liability company ("Asset Management")
and Max Holmes, an individual (the "Schedule 13G"). This amendment to the
Schedule 13G relates to the common stock ("Common Stock"), par value $.01 per
share, of W.R. Grace & Co., a Delaware corporation ("Issuer"). The following
amendments to the Schedule 13G are hereby made. Unless otherwise defined herein,
all capitalized terms shall have the meanings ascribed to them in the Schedule
13G.
Item 4. Ownership.
See Items 5-9 and 11 on the cover page for each filer. The ownership listed on
the cover page includes ownership as of February 1, 2007 of 100 shares of Common
Stock. The percentage ownership listed on the cover page has been calculated in
accordance with ss. 240.13d-3(d)(1) and is based upon 68,260,965 shares of the
Issuer's Common Stock outstanding on October 31, 2006, as reported in the
Issuer's Quarterly Report on Form 10-Q for the quarter ended September 30, 2006.
The Common Stock was purchased by Master Fund. Master Fund is a private
investment vehicle formed for the purpose of investing and trading in a wide
variety of securities and financial instruments. Asset Management is the Manager
of Master Fund. Max Holmes is the chief investment officer of Asset Management.
Item 5. Ownership of Five Percent or Less of a Class
If this statement is being filed to report the fact that as of the date hereof
the reporting person has ceased to be the beneficial owner of more than five
percent of the class of securities, check the following [X].
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Instruction: Dissolution of a group requires a response to this item.
Page 5 of 6 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.
Dated: February 2, 2007
PLAINFIELD SPECIAL SITUATIONS MASTER FUND
LIMITED
By: Plainfield Asset Management LLC
By: /s/ THOMAS X. FRITSCH
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Thomas X. Fritsch
Authorized Individual
PLAINFIELD ASSET MANAGEMENT LLC
By: /s/ THOMAS X. FRITSCH
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Thomas X. Fritsch
Managing Director and General Counsel
MAX HOLMES
By: /s/ THOMAS X. FRITSCH
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Thomas X. Fritsch
Attorney-in-Fact*
* Duly authorized pursuant to Power of Attorney, dated February 1, 2007, by and
on behalf of Max Holmes, appointing Thomas X. Fritsch as his attorney-in-fact,
which Power of Attorney was filed on February 2, 2007 as Exhibit A to Amendment
No. 1 to Statement on Schedule 13G by Plainfield Special Situations Master Fund
Limited, Plainfield Asset Management LLC and Max Holmes, with respect to Riviera
Holdings Corporation, SEC File No. 005-50785 and incorporated by reference
herein.
The original statement shall be signed by each person on whose behalf the
statement is filed or his authorized representative. If the statement is signed
on behalf of a person by his authorized representative other than an executive
officer or general partner of the filing person, evidence of the
representative's authority to sign on behalf of such person shall be filed with
the statement, provided, however, that a power of attorney for this purpose
which is already on file with the Commission may be incorporated by reference.
The name and any title of each person who signs the statement shall be typed or
printed beneath his signature.
Note: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See ss.240.13d-7 for other
parties for whom copies are to be sent.
Attention: Intentional misstatements or omissions of fact constitute Federal
criminal violations (See 18 U.S.C. 1001)
Page 6 of 6 pages