UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. ___________)*
Shells Seafood Restaurants, Inc.
--------------------------------------------------------------------------------
(Name of Issuer)
Common Stock
--------------------------------------------------------------------------------
(Title of Class of Securities)
822809109
--------------------------------------------------------------------------------
(CUSIP Number)
May 31, 2005
--------------------------------------------------------------------------------
(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).
SCHEDULE 13G
--------------------------------------------------------------------------------
CUSIP No. 822809109 Page 2 of 21 Pages
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Drawbridge Global Macro Master Fund Ltd.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions) (a) | |
(b) | |
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
--------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF -1,165,000-
---------------------------------------------
SHARES 6 SHARED VOTING POWER
-0-
BENEFICIALLY ---------------------------------------------
7 SOLE DISPOSITIVE POWER
OWNED BY -1,165,000-
---------------------------------------------
EACH 8 SHARED DISPOSITIVE POWER
-0-
REPORTING
PERSON
WITH
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
-1,165,000-
--------------------------------------------------------------------------------
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES (See Instructions)
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.2% (based on 18,871,308 shares of common stock outstanding as of
May 1, 2007)
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON (See Instructions)
OO
--------------------------------------------------------------------------------
SCHEDULE 13G
--------------------------------------------------------------------------------
CUSIP No. 822809109 Page 3 of 21 Pages
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Drawbridge Global Macro Intermediate Fund LP
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions) (a) | |
(b) | |
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
--------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF -0-
---------------------------------------------
SHARES 6 SHARED VOTING POWER
-1,043,840-*
BENEFICIALLY ---------------------------------------------
7 SOLE DISPOSITIVE POWER
OWNED BY -0-
---------------------------------------------
EACH 8 SHARED DISPOSITIVE POWER
-1,043,840-*
REPORTING
PERSON
WITH
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
-1,043,840-
--------------------------------------------------------------------------------
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES (See Instructions)
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.5% (based on 18,871,308 shares of common stock outstanding as of
May 1, 2007)
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON (See Instructions)
OO
--------------------------------------------------------------------------------
* Solely in its capacity as the owner of 89.6% of the issued and outstanding
shares of beneficial interest of Drawbridge Global Macro Master Fund Ltd.
SCHEDULE 13G
--------------------------------------------------------------------------------
CUSIP No. 822809109 Page 4 of 21 Pages
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
DBGM Associates LLC
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions) (a) | |
(b) | |
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF -0-
---------------------------------------------
SHARES 6 SHARED VOTING POWER
-1,043,840-*
BENEFICIALLY ---------------------------------------------
7 SOLE DISPOSITIVE POWER
OWNED BY -0-
---------------------------------------------
EACH 8 SHARED DISPOSITIVE POWER
-1,043,840-*
REPORTING
PERSON
WITH
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
-1,043,840-
--------------------------------------------------------------------------------
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES (See Instructions)
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.5% (based on 18,871,308 shares of common stock outstanding as of
May 1, 2007)
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON (See Instructions)
OO
--------------------------------------------------------------------------------
* Solely in its capacity as the general partner of Drawbridge Global Macro
Intermediate Fund LP.
SCHEDULE 13G
--------------------------------------------------------------------------------
CUSIP No. 822809109 Page 5 of 21 Pages
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Principal Holdings I LP
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions) (a) | |
(b) | |
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF -0-
---------------------------------------------
SHARES 6 SHARED VOTING POWER
-1,043,840-*
BENEFICIALLY ---------------------------------------------
7 SOLE DISPOSITIVE POWER
OWNED BY -0-
---------------------------------------------
EACH 8 SHARED DISPOSITIVE POWER
-1,043,840-*
REPORTING
PERSON
WITH
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
-1,043,840-
--------------------------------------------------------------------------------
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES (See Instructions)
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.5% (based on 18,871,308 shares of common stock outstanding as of
May 1, 2007)
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON (See Instructions)
OO
--------------------------------------------------------------------------------
* Solely in its capacity as the sole managing member of DBGM Associates LLC.
SCHEDULE 13G
--------------------------------------------------------------------------------
CUSIP No. 822809109 Page 6 of 21 Pages
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
FIG Asset Co. LLC
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions) (a) | |
(b) | |
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF -0-
---------------------------------------------
SHARES 6 SHARED VOTING POWER
-1,043,840-*
BENEFICIALLY ---------------------------------------------
7 SOLE DISPOSITIVE POWER
OWNED BY -0-
---------------------------------------------
EACH 8 SHARED DISPOSITIVE POWER
-1,043,840-*
REPORTING
PERSON
WITH
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
-1,043,840-
--------------------------------------------------------------------------------
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES (See Instructions)
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.5% (based on 18,871,308 shares of common stock outstanding as of
May 1, 2007)
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON (See Instructions)
OO
--------------------------------------------------------------------------------
* Solely in its capacity as the general partner of Principal Holdings I LP.
SCHEDULE 13G
--------------------------------------------------------------------------------
CUSIP No. 822809109 Page 7 of 21 Pages
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Drawbridge Global Macro Fund Ltd.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions) (a) | |
(b) | |
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
--------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF -0-
---------------------------------------------
SHARES 6 SHARED VOTING POWER
-1,043,840-*
BENEFICIALLY ---------------------------------------------
7 SOLE DISPOSITIVE POWER
OWNED BY -0-
---------------------------------------------
EACH 8 SHARED DISPOSITIVE POWER
-1,043,840-*
REPORTING
PERSON
WITH
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
-1,043,840-
--------------------------------------------------------------------------------
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES (See Instructions)
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.5% (based on 18,871,308 shares of common stock outstanding as of
May 1, 2007)
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON (See Instructions)
OO
--------------------------------------------------------------------------------
* Solely in its capacity as the sole limited partner of Drawbridge Global Macro
Intermediate Fund LP.
SCHEDULE 13G
--------------------------------------------------------------------------------
CUSIP No. 822809109 Page 8 of 21 Pages
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Drawbridge Global Macro Fund LP
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions) (a) | |
(b) | |
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF -0-
---------------------------------------------
SHARES 6 SHARED VOTING POWER
-121,160-*
BENEFICIALLY ---------------------------------------------
7 SOLE DISPOSITIVE POWER
OWNED BY -0-
---------------------------------------------
EACH 8 SHARED DISPOSITIVE POWER
-121,160-*
REPORTING
PERSON
WITH
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
-121,160-
--------------------------------------------------------------------------------
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES (See Instructions)
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.6% (based on 18,871,308 shares of common stock outstanding as of
May 1, 2007)
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON (See Instructions)
PN
--------------------------------------------------------------------------------
* Solely in its capacity as the owner of 10.4% of the issued and outstanding
shares of beneficial interest of Drawbridge Global Macro Master Fund Ltd.
SCHEDULE 13G
--------------------------------------------------------------------------------
CUSIP No. 822809109 Page 9 of 21 Pages
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Drawbridge Global Macro Advisors LLC
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions) (a) | |
(b) | |
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF -0-
---------------------------------------------
SHARES 6 SHARED VOTING POWER
-1,165,000-*
BENEFICIALLY ---------------------------------------------
7 SOLE DISPOSITIVE POWER
OWNED BY -0-
---------------------------------------------
EACH 8 SHARED DISPOSITIVE POWER
-1,165,000-*
REPORTING
PERSON
WITH
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
-1,165,000-
--------------------------------------------------------------------------------
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES (See Instructions)
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.2% (based on 18,871,308 shares of common stock outstanding as of
May 1, 2007)
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON (See Instructions)
OO
--------------------------------------------------------------------------------
* Solely in its capacity as the investment advisor of each of Drawbridge Global
Macro Fund LP, Drawbridge Global Macro Fund Ltd., Drawbridge Global Macro
Intermediate Fund LP and Drawbridge Global Macro Master Fund Ltd.
SCHEDULE 13G
--------------------------------------------------------------------------------
CUSIP No. 822809109 Page 10 of 21 Pages
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Drawbridge Global Macro GP LLC
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions) (a) | |
(b) | |
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF -0-
---------------------------------------------
SHARES 6 SHARED VOTING POWER
-121,160-*
BENEFICIALLY ---------------------------------------------
7 SOLE DISPOSITIVE POWER
OWNED BY -0-
---------------------------------------------
EACH 8 SHARED DISPOSITIVE POWER
-121,160-*
REPORTING
PERSON
WITH
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
-121,160-
--------------------------------------------------------------------------------
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES (See Instructions)
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.6% (based on 18,871,308 shares of common stock outstanding as of
May 1, 2007)
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON (See Instructions)
OO
--------------------------------------------------------------------------------
* Solely in its capacity as the general partner of Drawbridge Global Macro Fund
LP.
SCHEDULE 13G
--------------------------------------------------------------------------------
CUSIP No. 822809109 Page 11 of 21 Pages
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
FIG LLC
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions) (a) | |
(b) | |
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF -0-
---------------------------------------------
SHARES 6 SHARED VOTING POWER
-1,165,000-*
BENEFICIALLY ---------------------------------------------
7 SOLE DISPOSITIVE POWER
OWNED BY -0-
---------------------------------------------
EACH 8 SHARED DISPOSITIVE POWER
-1,165,000-*
REPORTING
PERSON
WITH
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
-1,165,000-
--------------------------------------------------------------------------------
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES (See Instructions)
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.2% (based on 18,871,308 shares of common stock outstanding as of
May 1, 2007)
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON (See Instructions)
OO
--------------------------------------------------------------------------------
* Solely in its capacity as the sole managing member of Drawbridge Global Macro
Advisors LLC.
SCHEDULE 13G
--------------------------------------------------------------------------------
CUSIP No. 822809109 Page 12 of 21 Pages
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Fortress Operating Entity I LP
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions) (a) | |
(b) | |
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF -0-
---------------------------------------------
SHARES 6 SHARED VOTING POWER
-1,165,000-*
BENEFICIALLY ---------------------------------------------
7 SOLE DISPOSITIVE POWER
OWNED BY -0-
---------------------------------------------
EACH 8 SHARED DISPOSITIVE POWER
-1,165,000-*
REPORTING
PERSON
WITH
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
-1,165,000-
--------------------------------------------------------------------------------
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES (See Instructions)
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.2% (based on 18,871,308 shares of common stock outstanding as of
May 1, 2007)
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON (See Instructions)
PN
--------------------------------------------------------------------------------
* Solely in its capacity as the sole managing member of FIG LLC.
SCHEDULE 13G
--------------------------------------------------------------------------------
CUSIP No. 822809109 Page 13 of 21 Pages
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Fortress Operating Entity II LP
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions) (a) | |
(b) | |
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF -0-
---------------------------------------------
SHARES 6 SHARED VOTING POWER
-121,160-*
BENEFICIALLY ---------------------------------------------
7 SOLE DISPOSITIVE POWER
OWNED BY -0-
---------------------------------------------
EACH 8 SHARED DISPOSITIVE POWER
-121,160-*
REPORTING
PERSON
WITH
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
-121,160-
--------------------------------------------------------------------------------
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES (See Instructions)
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.6% (based on 18,871,308 shares of common stock outstanding as of
May 1, 2007)
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON (See Instructions)
PN
--------------------------------------------------------------------------------
* Solely in its capacity as the sole managing member of Drawbridge Global Macro
GP LLC.
SCHEDULE 13G
--------------------------------------------------------------------------------
CUSIP No. 822809109 Page 14 of 21 Pages
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
FIG Corp.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions) (a) | |
(b) | |
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF -0-
---------------------------------------------
SHARES 6 SHARED VOTING POWER
-1,165,000-*
BENEFICIALLY ---------------------------------------------
7 SOLE DISPOSITIVE POWER
OWNED BY -0-
---------------------------------------------
EACH 8 SHARED DISPOSITIVE POWER
-1,165,000-*
REPORTING
PERSON
WITH
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
-1,165,000-
--------------------------------------------------------------------------------
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES (See Instructions)
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.2% (based on 18,871,308 shares of common stock outstanding as of
May 1, 2007)
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON (See Instructions)
CO
--------------------------------------------------------------------------------
* Solely in its capacity as the general partner of each of Fortress Operating
Entity I LP and Fortress Operating Entity II LP.
SCHEDULE 13G
--------------------------------------------------------------------------------
CUSIP No. 822809109 Page 15 of 21 Pages
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Fortress Investment Group LLC
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions) (a) | |
(b) | |
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF -0-
---------------------------------------------
SHARES 6 SHARED VOTING POWER
-1,165,000-*
BENEFICIALLY ---------------------------------------------
7 SOLE DISPOSITIVE POWER
OWNED BY -0-
---------------------------------------------
EACH 8 SHARED DISPOSITIVE POWER
-1,165,000-*
REPORTING
PERSON
WITH
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
-1,165,000-
--------------------------------------------------------------------------------
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES (See Instructions)
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.2% (based on 18,871,308 shares of common stock outstanding as of
May 1, 2007)
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON (See Instructions)
OO
--------------------------------------------------------------------------------
* Solely in its capacity as the holder of all the issued and outstanding shares
of beneficial interest of each of FIG Corp. and FIG Asset Co. LLC.
Item 1.
(a) Name of Issuer:
The name of the issuer is Shells Seafood Restaurants, Inc. (the
"Issuer").
(b) Address of Issuer's Principal Executive Offices:
The Issuer's principal executive offices are located at 16313 North
Dale Mabry Highway, Suite 100, Tampa, Florida 33618.
Item 2.
(a) Name of Person Filing:
This statement is filed by:
(i) Drawbridge Global Macro Master Fund Ltd., a Cayman Islands
company, directly owns shares described herein;
(ii) Drawbridge Global Macro Intermediate Fund LP, a Cayman Islands
limited partnership, owns approximately 89.6% of the issued and
outstanding shares of Drawbridge Global Macro Master Fund Ltd.;
(iii) DBGM Associates LLC, a Delaware limited liability company, is
the general partner of Drawbridge Global Macro Intermediate
Fund LP;
(iv) Principal Holdings I LP, a Delaware limited partnership, is the
sole managing member of DBGM Associates LLC;
(v) FIG Asset Co. LLC, a Delaware limited liability company, is the
general partner of Principal Holdings I LP;
(vi) Drawbridge Global Macro Fund Ltd., a Cayman Islands company, is
the sole limited partner of Drawbridge Global Macro
Intermediate Fund LP;
(vii) Drawbridge Global Macro Fund LP, a Delaware limited
partnership, owns 10.4% of the issued and outstanding shares of
beneficial interest of Drawbridge Global Macro Master Fund
Ltd.;
(viii) Drawbridge Global Macro Advisors LLC, a Delaware limited
liability company, is the investment advisor of each of
Drawbridge Global Macro Fund LP, Drawbridge Global Macro Fund
Ltd., Drawbridge Global Macro Intermediate Fund LP and
Drawbridge Global Macro Master Fund Ltd.;
(ix) Drawbridge Global Macro GP LLC, a Delaware limited liability
company, is the general partner of Drawbridge Global Macro Fund
LP;
(x) FIG LLC, a Delaware limited liability company, is the sole
managing member of Drawbridge Global Macro Advisors LLC;
(xi) Fortress Operating Entity I LP, a Delaware limited partnership,
is the sole managing member of FIG LLC;
(xii) Fortress Operating Entity II LP, a Delaware limited
partnership, is the sole managing member of Drawbridge Global
Macro GP LLC;
(xiii) FIG Corp., a Delaware corporation, is the general partner of
each of Fortress Operating Entity I LP and Fortress Operating
Entity II LP; and
(xiv) Fortress Investment Group LLC, a Delaware limited liability
company, is holder of all the issued and outstanding shares of
beneficial interest of each of FIG Corp and FIG Asset Co. LLC.
The foregoing persons are hereinafter sometimes collectively referred
to as the "Reporting Persons." Any disclosures herein with respect to
persons other than the Reporting Persons are made on information and
belief after making inquiry to the appropriate party.
(b) Address of Principal Business Office, or if none, Residence:
The address of the business office of each of the Reporting Persons is
c/o Fortress Investment Group LLC, 1345 Avenue of the Americas, 46th
Floor, New York, New York 10105, Attention: Michael Cohn.
(c) Citizenship:
Each of DBGM Associates LLC, FIG Asset Co. LLC, Drawbridge Global
Macro Advisors LLC, Drawbridge Global Macro GP LLC, FIG LLC and
Fortress Investment Group LLC is a limited liability company organized
under the laws of the State of Delaware. Each of Drawbridge Global
Macro Fund LP, Principal Holdings I LP, Fortress Operating Entity I LP
and Fortress Operating Entity II LP is a limited partnership organized
under the laws of the State of Delaware. Each of Drawbridge Global
Macro Master Fund Ltd. and Drawbridge Global Macro Fund Ltd. is a
company organized under the laws of the Cayman Islands. Drawbridge
Global Macro Intermediate Fund LP is a limited partnership organized
under the laws of the Cayman Islands. FIG Corp. is a corporation
organized under the laws of the State of Delaware.
(d) Title of Class of Securities:
Common Stock, $.01 par value per share (the "Common Stock")
(e) CUSIP Number:
822809109
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 Act (15
U.S.C. 78o).
(b) [ ] Bank as defined in section 3(a)(6) of the Act (15 U.S.C.
78c).
(c) [ ] Insurance company as defined in section 3(a)(19) of the Act
(15 U.S.C. 78c).
(d) [ ] Investment company registered under section 8 of the
Investment Company Act of 1940 (15 U.S.C. 80a-8).
(e) [ ] An investment adviser in accordance with
ss.240.13d-1(b)(1)(ii)(E).
(f) [ ] An employee benefit plan or endowment fund in accordance
with ss.240.13d-1(b)(1)(ii)(F).
(g) [ ] A parent holding company or control person in accordance
with ss.240.13d-1(b)(1)(ii)(G).
(h) [ ] A savings association as defined in Section 3(b) of the
Federal Deposit Insurance Act (12 U.S.C. 1813).
(i) [ ] A church plan that is excluded from the definition of an
investment company under section 3(c)(14) of the Investment
Company Act of 1940 (15 U.S.C. 80a-3).
(j) [ ] Group, in accordance with ss.240.13d-1(b)(1)(ii)(J).
Item 4. Ownership.
The percentages used in this Item 4 are calculated based upon
18,871,308 shares of Common Stock issued and outstanding as of May 1,
2007.
A. Drawbridge Global Macro Master Fund Ltd.
(a) Amount beneficially owned: -1,165,000-
(b) Percent of class: 6.2%
(c) (i) Sole power to vote or direct the vote:
-1,165,000-
(ii) Shared power to vote or direct the vote: -0-
(iii) Sole power to dispose or direct the
disposition: -1,165,000-
(iv) Shared power to dispose or direct the
disposition: -0-
B. Drawbridge Global Macro Intermediate Fund LP
(a) Amount beneficially owned: -1,043,840-
(b) Percent of class: 5.5%
(c) (i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote:
-1,043,840-
(iii) Sole power to dispose or direct the
disposition: -0-
(iv) Shared power to dispose or direct the
disposition: -1,043,840-
C. DBGM Associates LLC
(a) Amount beneficially owned: -1,043,840-
(b) Percent of class: 5.5%
(c) (i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote:
-1,043,840-
(iii) Sole power to dispose or direct the
disposition: -0-
(iv) Shared power to dispose or direct the
disposition: -1,043,840-
D. Principal Holdings I LP
(a) Amount beneficially owned: -1,043,840-
(b) Percent of class: 5.5%
(c) (i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote:
-1,043,840-
(iii) Sole power to dispose or direct the
disposition: -0-
(iv) Shared power to dispose or direct the
disposition: -1,043,840-
E. FIG Asset Co. LLC
(a) Amount beneficially owned: -1,043,840-
(b) Percent of class: 5.5%
(c) (i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote:
-1,043,840-
(iii) Sole power to dispose or direct the
disposition: -0-
(iv) Shared power to dispose or direct the
disposition: -1,043,840-
F. Drawbridge Global Macro Fund Ltd.
(a) Amount beneficially owned: -1,043,840-
(b) Percent of class: 5.5%
(c) (i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote:
-1,043,840-
(iii) Sole power to dispose or direct the
disposition: -0-
(iv) Shared power to dispose or direct the
disposition: -1,043,840-
G. Drawbridge Global Macro Fund LP
(a) Amount beneficially owned: -121,160-
(b) Percent of class: 0.6%
(c) (i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote:
-121,160-
(iii) Sole power to dispose or direct the
disposition: -0-
(iv) Shared power to dispose or direct the
disposition: -121,160-
H. Drawbridge Global Macro Advisors LLC
(a) Amount beneficially owned: -1,165,000-
(b) Percent of class: 6.2%
(c) (i) Sole power to vote or direct the vote:
-0-
(ii) Shared power to vote or direct the vote:
-1,165,000-
(iii) Sole power to dispose or direct the
disposition: -0-
(iv) Shared power to dispose or direct the
disposition: -1,165,000-
I. Drawbridge Global Macro GP LLC
(a) Amount beneficially owned: -121,160-
(b) Percent of class: 0.6%
(c) (i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote:
-121,160-
(iii) Sole power to dispose or direct the
disposition: -0-
(iv) Shared power to dispose or direct the
disposition: -121,160-
J. FIG LLC
(a) Amount beneficially owned: -1,165,000-
(b) Percent of class: 6.2%
(c) (i) Sole power to vote or direct the vote:
-0-
(ii) Shared power to vote or direct the vote:
-1,165,000-
(iii) Sole power to dispose or direct the
disposition: -0-
(iv) Shared power to dispose or direct the
disposition: -1,165,000-
K. Fortress Operating Entity I LP
(a) Amount beneficially owned: -1,165,000-
(b) Percent of class: 6.2%
(c) (i) Sole power to vote or direct the vote:
-0-
(ii) Shared power to vote or direct the vote:
-1,165,000-
(iii) Sole power to dispose or direct the
disposition: -0-
(iv) Shared power to dispose or direct the
disposition: -1,165,000-
L. Fortress Operating Entity II LP
(a) Amount beneficially owned: -121,160-
(b) Percent of class: 0.6%
(c) (i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote:
-121,160-
(iii) Sole power to dispose or direct the
disposition: -0-
(iv) Shared power to dispose or direct the
disposition: -121,160-
M. FIG Corp.
(a) Amount beneficially owned: -1,165,000-
(b) Percent of class: 6.2%
(c) (i) Sole power to vote or direct the vote:
-0-
(ii) Shared power to vote or direct the vote:
-1,165,000-
(iii) Sole power to dispose or direct the
disposition: -0-
(iv) Shared power to dispose or direct the
disposition: -1,165,000-
N. Fortress Investment Group LLC
(a) Amount beneficially owned: -1,165,000-
(b) Percent of class: 6.2%
(c) (i) Sole power to vote or direct the vote:
-0-
(ii) Shared power to vote or direct the vote:
-1,165,000-
(iii) Sole power to dispose or direct the
disposition: -0-
(iv) Shared power to dispose or direct the
disposition: -1,165,000-
Item 5. Ownership of Five Percent or Less of a Class.
Not applicable.
Item 6. Ownership of More than Five Percent on Behalf of Another Person.
Not applicable.
Item 7. Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on By the Parent Holding Company.
Not applicable.
Item 8. Identification and Classification of Members of the Group.
Not applicable.
Item 9. Notice of Dissolution of Group.
Not applicable.
Item 10. Certification.
Each of the Reporting Persons hereby makes the following
certification:
By signing below I certify that, to the best of my 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.
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: July 12, 2007
DRAWBRIDGE GLOBAL MACRO MASTER FUND LTD.
By: /s/ Kevin Treacy
-----------------------------------------
Name: Kevin Treacy
Title: Authorized Signatory
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: July 12, 2007
DRAWBRIDGE GLOBAL MACRO INTERMEDIATE FUND LP
By: DBGM ASSOCIATES LLC
its general partner
By: /s/ Kevin Treacy
-----------------------------------------
Name: Kevin Treacy
Title: Authorized Signatory
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: July 12, 2007
DBGM ASSOCIATES LLC
By: PRINCIPAL HOLDINGS I LP
its sole managing member
By: /s/ David N. Brooks
-----------------------------------------
Name: David N. Brooks
Title: Authorized Signatory
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: July 12, 2007
PRINCIPAL HOLDINGS I LP
By: FIG ASSET CO. LLC
its general partner
By: /s/ David N. Brooks
-----------------------------------------
Name: David N. Brooks
Title: Authorized Signatory
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: July 12, 2007
FIG ASSET CO. LLC
By: /s/ David N. Brooks
-----------------------------------------
Name: David N. Brooks
Title: Authorized Signatory
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: July 12, 2007
DRAWBRIDGE GLOBAL MACRO FUND LTD.
By: /s/ Kevin Treacy
-----------------------------------------
Name: Kevin Treacy
Title: Authorized Signatory
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: July 12, 2007
DRAWBRIDGE GLOBAL MACRO FUND LP
By: DRAWBRIDGE GLOBAL MACRO FUND GP LLC
its general partner
By: /s/ Kevin Treacy
-----------------------------------------
Name: Kevin Treacy
Title: Authorized Signatory
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: July 12, 2007
DRAWBRIDGE GLOBAL MACRO ADVISORS LLC
By: /s/ Kevin Treacy
-----------------------------------------
Name: Kevin Treacy
Title: Authorized Signatory
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: July 12, 2007
DRAWBRIDGE GLOBAL MACRO GP LLC
By: /s/ Kevin Treacy
-----------------------------------------
Name: Kevin Treacy
Title: Authorized Signatory
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: July 12, 2007
FIG LLC
By: /s/ David N. Brooks
-----------------------------------------
Name: David N. Brooks
Title: Authorized Signatory
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: July 12, 2007
FORTRESS OPERATING ENTITY I LP
By: FIG CORP.
its general partner
By: /s/ David N. Brooks
-----------------------------------------
Name: David N. Brooks
Title: Authorized Signatory
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: July 12, 2007
FORTRESS OPERATING ENTITY II LP
By: FIG CORP.
its general partner
By: /s/ David N. Brooks
-----------------------------------------
Name: David N. Brooks
Title: Authorized Signatory
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: July 12, 2007
FIG CORP.
By: /s/ David N. Brooks
-----------------------------------------
Name: David N. Brooks
Title: Authorized Signatory
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: July 12, 2007
FORTRESS INVESTMENT GROUP LLC
By: /s/ David N. Brooks
-----------------------------------------
Name: David N. Brooks
Title: Authorized Signatory
EXHIBIT INDEX
Exhibit Number Exhibit
-------------- -------------------------------------------------------------
1 Joint Filing Agreement dated as of July 12, 2007, by and
between Drawbridge Global Macro Master Fund Ltd., Drawbridge
Global Macro Intermediate Fund LP, DBGM Associates LLC,
Principal Holdings I LP, FIG Asset Co. LLC, Drawbridge Global
Macro Fund Ltd., Drawbridge Global Macro Fund LP, Drawbridge
Global Macro Advisors LLC, Drawbridge Global Macro GP LLC,
FIG LLC, Fortress Operating Entity I LP, Fortress Operating
Entity II LP, FIG Corp. and Fortress Investment Group LLC