UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D/A
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 1)*
The Steak n Shake Company
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(NAME OF ISSUER)
Common Stock, stated value $0.50 per share
--------------------------------------------------------------------------------
(TITLE OF CLASS OF SECURITIES)
857873-10-3
--------------------------------------------------------------------------------
(CUSIP NUMBER)
--------------------------------------------------------------------------------
Jon L. Mosle Marc L. Lipshy
HBK Investments L.P. Hudson Advisors LLC
300 Crescent Court, Suite 700 717 North Harwood Street, Suite 2100
Dallas, Texas 75201 Dallas, Texas 75201
(214) 758-6107 (214) 754-8430
--------------------------------------------------------------------------------
with a copy to:
Jeffrey B. Hitt, Esq.
Weil, Gotshal & Manges LLP
200 Crescent Court, Suite 300
Dallas, Texas 75201
(214) 746-7700
--------------------------------------------------------------------------------
( NAME, ADDRESS AND TELEPHONE NUMBER OF PERSON AUTHORIZED TO
RECEIVE NOTICES AND COMMUNICATIONS)
July 2, 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 ss.ss.240.13d-1(e), 240.13d-1(f) or 240.13d-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 ss.240.13d-7 for other
parties to whom copies are to be sent.
*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).
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CUSIP No. 857873-10-3 13D Page 2 of 24
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1 NAME OF REPORTING PERSON: HBK MASTER FUND L.P.
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON (ENTITIES ONLY):
------------------- ----------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [_]
(B) [X]
------------------- ----------------------------------------------------------------------------------------------------------------
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: CAYMAN ISLANDS
------------------------------ ------- ---------------------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER:
SHARES
------- ---------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 1,324,150
OWNED BY
------- ---------------------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER:
REPORTING
------- ---------------------------------------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 1,324,150
------------------- ----------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 1,324,150
------------------- ----------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [ ]
------------------- ----------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 4.7%
------------------- ----------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: PN
------------------- ----------------------------------------------------------------------------------------------------------------
2
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CUSIP No. 857873-10-3 13D Page 3 of 24
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1 NAME OF REPORTING PERSON: HBK FUND L.P.
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON (ENTITIES ONLY):
------------------- ----------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [_]
(B) [X]
------------------- ----------------------------------------------------------------------------------------------------------------
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
------------------------------ ------- ---------------------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER:
SHARES
------- ---------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 0
OWNED BY
------- ---------------------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER:
REPORTING
------- ---------------------------------------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 0
------------------- ----------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 0
------------------- ----------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [_]
------------------- ----------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 0%
------------------- ----------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: PN
------------------- ----------------------------------------------------------------------------------------------------------------
3
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CUSIP No. 857873-10-3 13D Page 4 of 24
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1 NAME OF REPORTING PERSON: HBK INVESTMENTS L.P.
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON (ENTITIES ONLY):
------------------- ----------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [_]
(B) [X]
------------------- ----------------------------------------------------------------------------------------------------------------
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
------------------------------ ------- ---------------------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER:
SHARES
------- ---------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 1,324,150
OWNED BY
------- ---------------------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER:
REPORTING
------- ---------------------------------------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 1,324,150
------------------- ----------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 1,324,150
------------------- ----------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [_]
------------------- ----------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 4.7%
------------------- ----------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: PN
------------------- ----------------------------------------------------------------------------------------------------------------
4
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CUSIP No. 857873-10-3 13D Page 5 of 24
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1 NAME OF REPORTING PERSON: HBK SERVICES LLC
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON (ENTITIES ONLY):
------------------- ----------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [_]
(B) [X]
------------------- ----------------------------------------------------------------------------------------------------------------
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
------------------------------ ------- ---------------------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER:
SHARES
------- ---------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 1,324,150
OWNED BY
------- ---------------------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER:
REPORTING
------- ---------------------------------------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 1,324,150
------------------- ----------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 1,324,150
------------------- ----------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [_]
------------------- ----------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 4.7%
------------------- ----------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: OO
------------------- ----------------------------------------------------------------------------------------------------------------
5
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CUSIP No. 857873-10-3 13D Page 6 of 24
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1 NAME OF REPORTING PERSON: HBK PARTNERS II L.P.
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON (ENTITIES ONLY):
------------------- ----------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [_]
(B) [X]
------------------- ----------------------------------------------------------------------------------------------------------------
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
------------------------------ ------- ---------------------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER:
SHARES
------- ---------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 1,324,150
OWNED BY
------- ---------------------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER:
REPORTING
------- ---------------------------------------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 1,324,150
------------------- ----------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 1,324,150
------------------- ----------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [_]
------------------- ----------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 4.7%
------------------- ----------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: PN
------------------- ----------------------------------------------------------------------------------------------------------------
6
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CUSIP No. 857873-10-3 13D Page 7 of 24
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1 NAME OF REPORTING PERSON: HBK MANAGEMENT LLC
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON (ENTITIES ONLY):
------------------- ----------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [_]
(B) [X]
------------------- ----------------------------------------------------------------------------------------------------------------
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
------------------------------ ------- ---------------------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER:
SHARES
------- ---------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 1,324,150
OWNED BY
------- ---------------------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER:
REPORTING
------- ---------------------------------------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 1,324,150
------------------- ----------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 1,324,150
------------------- ----------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [_]
------------------- ----------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 4.7%
------------------- ----------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: OO
------------------- ----------------------------------------------------------------------------------------------------------------
7
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CUSIP No. 857873-10-3 13D Page 8 of 24
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1 NAME OF REPORTING PERSON: LSF5 INDY INVESTMENTS, LLC
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON (ENTITIES ONLY):
------------------- ----------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [_]
(B) [X]
------------------- ----------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
------------------- ----------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS: OO
------------------- ----------------------------------------------------------------------------------------------------------------
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
------------------------------ ------- ---------------------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER:
SHARES
------- ---------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 1,324,150
OWNED BY
------- ---------------------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER:
REPORTING
------- ---------------------------------------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 1,324,150
------------------- ----------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 1,324,150
------------------- ----------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [ ]
------------------- ----------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 4.7%
------------------- ----------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: OO
------------------- ----------------------------------------------------------------------------------------------------------------
8
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CUSIP No. 857873-10-3 13D Page 9 of 24
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1 NAME OF REPORTING PERSON: LSF5 INDY HOLDINGS, LLC
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON (ENTITIES ONLY):
------------------- ----------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [_]
(B) [X]
------------------- ----------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
------------------- ----------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS: OO
------------------- ----------------------------------------------------------------------------------------------------------------
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
------------------------------ ------- ---------------------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER:
SHARES
------- ---------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 1,324,150
OWNED BY
------- ---------------------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER:
REPORTING
------- ---------------------------------------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 1,324,150
------------------- ----------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 1,324,150
------------------- ----------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [_]
------------------- ----------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 4.7%
------------------- ----------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: OO
------------------- ----------------------------------------------------------------------------------------------------------------
9
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CUSIP No. 857873-10-3 13D Page 10 of 24
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1 NAME OF REPORTING PERSON: LSF5 REOC VII, L.P.
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON (ENTITIES ONLY):
------------------- ----------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [_]
(B) [X]
------------------- ----------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
------------------- ----------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS: OO
------------------- ----------------------------------------------------------------------------------------------------------------
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
------------------------------ ------- ---------------------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER:
SHARES
------- ---------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 1,324,150
OWNED BY
------- ---------------------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER:
REPORTING
------- ---------------------------------------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 1,324,150
------------------- ----------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 1,324,150
------------------- ----------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [_]
------------------- ----------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 4.7%
------------------- ----------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: PN
------------------- ----------------------------------------------------------------------------------------------------------------
10
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CUSIP No. 857873-10-3 13D Page 11 of 24
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1 NAME OF REPORTING PERSON: LSF5 GENPAR VII, LLC
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON (ENTITIES ONLY):
------------------- ----------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [_]
(B) [X]
------------------- ----------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
------------------- ----------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS: OO
------------------- ----------------------------------------------------------------------------------------------------------------
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
------------------------------ ------- ---------------------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER:
SHARES
------- ---------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 1,324,150
OWNED BY
------- ---------------------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER:
REPORTING
------- ---------------------------------------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 1,324,150
------------------- ----------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 1,324,150
------------------- ----------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [_]
------------------- ----------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 4.7%
------------------- ----------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: OO
------------------- ----------------------------------------------------------------------------------------------------------------
11
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CUSIP No. 857873-10-3 13D Page 12 of 24
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1 NAME OF REPORTING PERSON: LONE STAR FUND V (U.S.), L.P.
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON (ENTITIES ONLY):
------------------- ----------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [_]
(B) [X]
------------------- ----------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
------------------- ----------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS: OO
------------------- ----------------------------------------------------------------------------------------------------------------
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
------------------------------ ------- ---------------------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER:
SHARES
------- ---------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 1,324,150
OWNED BY
------- ---------------------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER:
REPORTING
------- ---------------------------------------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 1,324,150
------------------- ----------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 1,324,150
------------------- ----------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [_]
------------------- ----------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 4.7%
------------------- ----------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: PN
------------------- ----------------------------------------------------------------------------------------------------------------
12
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CUSIP No. 857873-10-3 13D Page 13 of 24
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1 NAME OF REPORTING PERSON: LONE STAR PARTNERS V, L.P.
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON (ENTITIES ONLY):
------------------- ----------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [_]
(B) [X]
------------------- ----------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
------------------- ----------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS: OO
------------------- ----------------------------------------------------------------------------------------------------------------
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
------------------------------ ------- ---------------------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER:
SHARES
------- ---------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 1,324,150
OWNED BY
------- ---------------------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER:
REPORTING
------- ---------------------------------------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 1,324,150
------------------- ----------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 1,324,150
------------------- ----------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [_]
------------------- ----------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 4.7%
------------------- ----------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: PN
------------------- ----------------------------------------------------------------------------------------------------------------
13
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CUSIP No. 857873-10-3 13D Page 14 of 24
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1 NAME OF REPORTING PERSON: LONE STAR MANAGEMENT CO. V, LTD.
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON (ENTITIES ONLY):
------------------- ----------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [_]
(B) [X]
------------------- ----------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
------------------- ----------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS: OO
------------------- ----------------------------------------------------------------------------------------------------------------
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
------------------------------ ------- ---------------------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER:
SHARES
------- ---------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 1,324,150
OWNED BY
------- ---------------------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER:
REPORTING
------- ---------------------------------------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 1,324,150
------------------- ----------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 1,324,150
------------------- ----------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [_]
------------------- ----------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 4.7%
------------------- ----------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: OO
------------------- ----------------------------------------------------------------------------------------------------------------
14
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CUSIP No. 857873-10-3 13D Page 15 of 24
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1 NAME OF REPORTING PERSON: JOHN P. GRAYKEN
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON (ENTITIES ONLY):
------------------- ----------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [_]
(B) [X]
------------------- ----------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
------------------- ----------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS: OO
------------------- ----------------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [_]
------------------- ----------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: IRELAND
------------------------------ ------- ---------------------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER:
SHARES
------- ---------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 1,324,150
OWNED BY
------- ---------------------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER:
REPORTING
------- ---------------------------------------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 1,324,150
------------------- ----------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 1,324,150
------------------- ----------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [_]
------------------- ----------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 4.7%
------------------- ----------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: OO
------------------- ----------------------------------------------------------------------------------------------------------------
15
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CUSIP No. 857873-10-3 13D Page 16 of 24
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1 NAME OF REPORTING PERSON: ROBERT J. STETSON
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON (ENTITIES ONLY):
------------------- ----------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [_]
(B) [X]
------------------- ----------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
------------------- ----------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS: PF
------------------- ----------------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [_]
------------------- ----------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: UNITED STATES
------------------------------ ------- ---------------------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER: 55,426(1)
SHARES
------- ---------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER:
OWNED BY
------- ---------------------------------------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 55,426(1)
REPORTING
------- ---------------------------------------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER:
------------------- ----------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 55,426(1)
------------------- ----------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [_]
------------------- ----------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 0.2%
------------------- ----------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON: IN
------------------- ----------------------------------------------------------------------------------------------------------------
(1) Includes 15,000 shares held in the account of a family member over which he
has sole voting and dispositive power.
16
SCHEDULE 13D
------------
EXPLANATORY NOTES: This Amendment No. 1 to Schedule 13D (this
"Amendment") is being filed by Robert J. Stetson and the HBK Reporting Persons
and Lone Star Reporting Persons (collectively, the "Reporting Persons")
identified in the Schedule 13D filed on June 25, 2007 (the "Schedule 13D") with
the Securities and Exchange Commission relating to the shares of common stock,
stated value $0.50 per share, of The Steak n Shake Company. The Schedule 13D is
hereby amended and supplemented by the Reporting Persons as set forth below in
this Amendment. Capitalized terms used but not defined in this Amendment shall
have the meanings given in the Schedule 13D.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
The last sentence of Item 3 is hereby amended and restated in its
entirety as follows:
On July 2, 2007, HBK Master and HBK Fund sold an aggregate of 925,650
shares of SNS Common Stock to Indy Investment pursuant to the Investment Letter
Agreement described in Item 6 below for an aggregate purchase price of
$14,152,234.24, which amount was paid in cash.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
The disclosure in paragraphs (a) and (b) of Item 5 is hereby amended
and restated in its entirety as follows:
(a) and (b) The respective percentages set forth below are based on
28,450,690 shares of SNS Common Stock outstanding as of May 9, 2007, as reported
by the Issuer in its Form 10-Q for the sixteen weeks ended April 11, 2007, filed
with the Securities and Exchange Commission on May 18, 2007.
By virtue of the relationships among the Reporting Persons described
herein, the Reporting Persons may be deemed to constitute a "group" within the
meaning of Rule 13d-5(b) under the Exchange Act. As a member of a group, each
Reporting Person may be deemed to beneficially own the SNS Common Stock
beneficially owned by the members of the group as a whole. As of July 2, 2007,
the Reporting Persons beneficially owned in the aggregate 2,703,726 shares of
SNS Common Stock, which represents approximately 9.5% of the outstanding SNS
Common Stock. Except as set forth herein, each of the Reporting Persons
expressly disclaims beneficial ownership of such shares held by any other
members of such group.
HBK Master has direct beneficial ownership of 1,324,150 shares of SNS
Common Stock, which represents approximately 4.7% of the outstanding SNS Common
Stock.
HBK Fund has direct beneficial ownership of 0 shares of SNS Common
Stock, which represents 0% of the outstanding SNS Common Stock.
Page 17 of 24
HBK Master and HBK Fund have delegated discretion to vote and dispose
of the SNS Common Stock to HBK Investments. HBK Investments, as a result of such
delegations, has indirect beneficial ownership of 1,324,150 shares of SNS Common
Stock, which represents approximately 4.7% of the outstanding SNS Common Stock.
HBK Investments has delegated discretion to vote and dispose of the SNS
Common Stock to HBK Services. HBK Services, as a result of such delegation, has
indirect beneficial ownership of 1,324,150 shares of SNS Common Stock, which
represents approximately 4.7% of the outstanding SNS Common Stock.
HBK Partners, as the general partner of HBK Investments, has indirect
beneficial ownership of 1,324,150 shares of SNS Common Stock, which represents
approximately 4.7% of the outstanding SNS Common Stock.
HBK Management, as the general partner of HBK Partners and the managing
member of HBK Services, has indirect beneficial ownership of 1,324,150 shares of
SNS Common Stock, which represents approximately 4.7% of the outstanding SNS
Common Stock.
Indy Investments has direct beneficial ownership of 1,324,150 shares of
SNS Common Stock, which represents approximately 4.7% of the outstanding SNS
Common Stock.
Indy Holdings, as the sole member of Indy Investments, has indirect
beneficial ownership of 1,324,150 shares of SNS Common Stock, which represents
approximately 4.7% of the outstanding SNS Common Stock.
REOC VII, as the managing member of Indy Holdings, has indirect
beneficial ownership of 1,324,150 shares of SNS Common Stock, which represents
approximately 4.7% of the outstanding SNS Common Stock.
GenPar VII, as the general partner of REOC VII, has indirect beneficial
ownership of 1,324,150 shares of SNS Common Stock, which represents
approximately 4.7% of the outstanding SNS Common Stock.
Fund V, as the general partner of GenPar VII, has indirect beneficial
ownership of 1,324,150 shares of SNS Common Stock, which represents
approximately 4.7% of the outstanding SNS Common Stock.
Lone Star Partners, as the general partner of Fund V, has indirect
beneficial ownership of 1,324,150 shares of SNS Common Stock, which represents
approximately 4.7% of the outstanding SNS Common Stock.
Lone Star Management, as the general partner of Lone Star Partners, has
indirect beneficial ownership of 1,324,150 shares of SNS Common Stock, which
represents approximately 4.7% of the outstanding SNS Common Stock.
Page 18 of 24
Mr. Grayken, as the sole shareholder of Lone Star Management, has
indirect beneficial ownership of 1,324,150 shares of SNS Common Stock, which
represents approximately 4.7% of the outstanding SNS Common Stock.
Mr. Stetson has direct beneficial ownership of 55,426 shares of SNS
Common Stock, which represents approximately 0.2% of the outstanding SNS Common
Stock. Of such 55,426 shares, 15,000 shares of SNS Common Stock are held in an
account for a family member over which he has sole voting and dispositive power.
The Cover Pages of this Schedule 13D are incorporated herein by
reference.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH
RESPECT TO SECURITIES OF THE ISSUER.
The disclosure in Item 6 is hereby supplemented by adding the following
after the last sentence thereof:
On July 2, 2007, Indy Investment purchased 158,805 shares of SNS Common
Stock from HBK Master and 766,845 shares of SNS Common Stock from HBK Fund for
an aggregate purchase price of $14,152,234.24 pursuant to the Investment Letter
Agreement.
Page 19 of 24
Signatures
----------
After reasonable inquiry and to the best knowledge and belief of each
of the undersigned, such person certifies that the information set forth in this
Schedule 13D with respect to such person is true, complete and correct.
Dated: July 3, 2007
HBK MASTER FUND L.P.
BY: HBK SERVICES LLC
INVESTMENT ADVISOR
BY: /S/ JON L. MOSLE
-----------------------------
NAME: JON L. MOSLE
TITLE: AUTHORIZED SIGNATORY (1)
HBK FUND L.P.
BY: HBK SERVICES LLC
INVESTMENT ADVISOR
BY: /S/ JON L. MOSLE
-----------------------------
NAME: JON L. MOSLE
TITLE: AUTHORIZED SIGNATORY (1)
HBK INVESTMENTS L.P.
BY: /S/ JON L. MOSLE
-----------------------------
NAME: JON L. MOSLE
TITLE: AUTHORIZED SIGNATORY (1)
Page 20 of 24
[Signature Page to Amendment No. 1 to Schedule 13D]
HBK SERVICES LLC
BY: /S/ JON L. MOSLE
-----------------------------
NAME: JON L. MOSLE
TITLE: AUTHORIZED SIGNATORY (1)
HBK PARTNERS II L.P.
BY: HBK MANAGEMENT LLC
GENERAL PARTNER
BY: /S/ JON L. MOSLE
-----------------------------
NAME: JON L. MOSLE
TITLE: AUTHORIZED SIGNATORY (1)
HBK MANAGEMENT LLC
BY: /S/ JON L. MOSLE
-----------------------------
NAME: JON L. MOSLE
TITLE: AUTHORIZED SIGNATORY (1)
(1) AN AUTHORIZATION CERTIFICATE AUTHORIZING JON L. MOSLE TO ACT ON BEHALF OF
EACH REPORTING PERSON WAS PREVIOUSLY FILED.
Page 21 of 24
[Signature Page to Amendment No. 1 to Schedule 13D]
LSF5 INDY INVESTMENTS, LLC
BY: /S/ MARC L. LIPSHY
---------------------------------------
NAME: MARC L. LIPSHY
TITLE: VICE PRESIDENT
LSF5 INDY HOLDINGS, LLC
BY: /S/ MARC L. LIPSHY
---------------------------------------
NAME: MARC L. LIPSHY
TITLE: VICE PRESIDENT
LSF5 REOC VII, L.P.
BY: LSF5 GENPAR VII, LLC, ITS GENERAL PARTNER
BY: /S/ MARC L. LIPSHY
---------------------------------------
NAME: MARC L. LIPSHY
TITLE: VICE PRESIDENT
LSF5 GENPAR VII, LLC
BY: /S/ MARC L. LIPSHY
---------------------------------------
NAME: MARC L. LIPSHY
TITLE: VICE PRESIDENT
Page 22 of 24
[Signature Page to Amendment No. 1 to Schedule 13D]
LONE STAR FUND V (U.S.), L.P.
BY: LONE STAR PARTNERS V, L.P.,
ITS GENERAL PARTNER
BY: LONE STAR MANAGEMENT CO. V, LTD.,
ITS GENERAL PARTNER
BY: /S/ MARC L. LIPSHY
---------------------------------------
NAME: MARC L. LIPSHY
TITLE: VICE PRESIDENT
LONE STAR PARTNERS V, L.P.
BY: LONE STAR MANAGEMENT CO. V, LTD.,
ITS GENERAL PARTNER
BY: /S/ MARC L. LIPSHY
---------------------------------------
NAME: MARC L. LIPSHY
TITLE: VICE PRESIDENT
LONE STAR MANAGEMENT CO. V, LTD.
BY: /S/ MARC L. LIPSHY
---------------------------------------
NAME: MARC L. LIPSHY
TITLE: VICE PRESIDENT
/S/ JOHN P. GRAYKEN
----------------------------------------------
JOHN P. GRAYKEN
Page 23 of 24
[Signature Page to Amendment No. 1 to Schedule 13D]
/S/ ROBERT J. STETSON
----------------------------------------------
ROBERT J. STETSON
Page 24 of 24
[Signature Page to Amendment No. 1 to Schedule 13D]