UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
(Rule 13d-101)
(Amendment No. 6)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULE 13d-1(A) AND
AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(a)
Liquid Audio, Inc.
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(Name of Issuer)
Common Stock, $.001 par value
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(Title of Class of Securities)
53631T102000
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(CUSIP Number)
Mr. James Mitarotonda
c/o Barington Capital Group, L.P.
888 Seventh Avenue, 17th Floor
New York, N.Y. 10019
(212) 974-5700
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(Name, Address and Telephone Number of
Person Authorized to Receive Notices
and Communications)
February 22, 2002
-----------------
(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 which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(e), 13d-1(f), or 13d-1(g), check the following
box: |_|.
SCHEDULE 13D
CUSIP No. 53631T102000
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
musicmaker.com, Inc. 54-1811721
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2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [x]
(b) |_|
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3) SEC USE ONLY
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4) SOURCE OF FUNDS
WC
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5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
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6) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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7) SOLE VOTING POWER
NUMBER OF 655,700
SHARES ___________________________________________________
BENEFICIALLY 8) SHARED VOTING POWER
OWNED BY none
EACH ___________________________________________________
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON 655,700
WITH ___________________________________________________
10) SHARED DISPOSITIVE POWER
none
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11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
655,700
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12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES |_|
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13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.9%
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14) TYPE OF REPORTING PERSON
CO
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-2-
SCHEDULE 13D
CUSIP No. 53631T102000
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Jewelcor Management, Inc. 23-2331228
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2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [x]
(b) |_|
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3) SEC USE ONLY
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4) SOURCE OF FUNDS
WC
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5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
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6) CITIZENSHIP OR PLACE OF ORGANIZATION
Nevada
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7) SOLE VOTING POWER
NUMBER OF 475,500
SHARES ____________________________________________________
BENEFICIALLY 8) SHARED VOTING POWER
OWNED BY none
EACH ____________________________________________________
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON 475,500
WITH ____________________________________________________
10) SHARED DISPOSITIVE POWER
none
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11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
475,500
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12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES |_|
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13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.1%
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14) TYPE OF REPORTING PERSON
CO
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-3-
SCHEDULE 13D
CUSIP No. 53631T102000
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Barington Companies Equity Partners, L.P. 13-4088890
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2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [x]
(b) |_|
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3) SEC USE ONLY
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4) SOURCE OF FUNDS
WC
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5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
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6) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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7) SOLE VOTING POWER
NUMBER OF 339,200
SHARES _____________________________________________________
BENEFICIALLY 8) SHARED VOTING POWER
OWNED BY none
EACH _____________________________________________________
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON 339,200
WITH _____________________________________________________
10) SHARED DISPOSITIVE POWER
none
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11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
339,200
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12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES |_|
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13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.5%
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14) TYPE OF REPORTING PERSON
PN
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-4-
SCHEDULE 13D
CUSIP No. 53631T102000
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Ramius Securities, LLC 58-2253019
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2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [x]
(b) |_|
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3) SEC USE ONLY
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4) SOURCE OF FUNDS
WC
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5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
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6) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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7) SOLE VOTING POWER
NUMBER OF 89,500
SHARES _____________________________________________________
BENEFICIALLY 8) SHARED VOTING POWER
OWNED BY none
EACH _____________________________________________________
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON 89,500
WITH _____________________________________________________
10) SHARED DISPOSITIVE POWER
none
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11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
89,500
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12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES |_|
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13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
less than 1.0%
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14) TYPE OF REPORTING PERSON
OO
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-5-
SCHEDULE 13D
CUSIP No. 53631T102000
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Domrose Sons Partnership 11-3256586
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2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [x]
(b) |_|
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3) SEC USE ONLY
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4) SOURCE OF FUNDS
WC
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5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
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6) CITIZENSHIP OR PLACE OF ORGANIZATION
New York
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7) SOLE VOTING POWER
NUMBER OF 8,000
SHARES ___________________________________________________________
BENEFICIALLY 8) SHARED VOTING POWER
OWNED BY none
EACH ___________________________________________________________
REPORTING 9) SOLE DISPOSITIVE POWER
PERSON 8,000
WITH ___________________________________________________________
10) SHARED DISPOSITIVE POWER
none
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11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
8,000
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12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES |_|
-------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
less than 1.0%
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14) TYPE OF REPORTING PERSON
PN
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-6-
Introduction. This Amendment No. 6 amends and supplements the Schedule
13D, dated September 28, 2001, as amended to date (the "Schedule 13D"), filed
with the Securities and Exchange Commission by musicmaker.com, Inc.
("musicmaker"), Jewelcor Management, Inc., Barington Companies Equity Partners,
L.P., Ramius Securities, LLC and Domrose Sons Partnership with respect to the
common stock, $.001 par value (the "Common Stock"), of Liquid Audio, Inc., a
Delaware corporation (the "Company"). The principal executive offices of the
Company are located at 800 Chesapeake Drive, Redwood City, California 94063.
Item 3 of the Schedule 13D, "Source and Amount of Funds or Other
Consideration," is deleted in its entirety and replaced with the following:
All purchases of Common Stock by the Reporting Entities were made in
the open market and were funded by working capital, which may, at any given
time, include margin loans made by brokerage firms in the ordinary course of
business. The amount of the funds expended by the Reporting Persons for such
purchases was $1,448,535 by musicmaker.com, Inc.; $1,036,831 by Jewelcor
Management, Inc.; $747,781 by Barington Companies Equity Partners, L.P.;
$207,686 by Ramius Securities, LLC; and $16,428 by Domrose Sons Partnership.
Item 4 of the Schedule 13D, "Purpose of Transaction," is amended
by adding the following:
On February 22, 2002, musicmaker sent a letter to the President and
Chief Executive Officer, as well as to each director, of the Company setting
forth its willingness to acquire the Company on a negotiated basis, through an
appropriate acquisition entity, for a price of $2.50 per share in cash. A copy
of that letter is filed as Exhibit 99.12 hereto and incorporated herein by
reference. No response to that letter has been received to date.
Item 5(a) of the Schedule 13D, "Interest in Securities of the
Issuer," is deleted in its entirety and replaced with the following:
As of the date hereof, the Reporting Entities own an aggregate of
1,567,900 shares of Common Stock, representing approximately 6.9% of the
outstanding shares of Common Stock based upon the 22,704,615 shares of Common
Stock reported by the Company to be issued and outstanding as of October 31,
2001 in its Quarterly Report on Form 10-Q for the quarter ended September 30,
2001.
As of the date hereof, musicmaker.com, Inc. beneficially owns an
aggregate of 655,700 shares of Common Stock, representing approximately 2.9% of
the outstanding shares of Common Stock.
As of the date hereof, Jewelcor Management, Inc. beneficially owns an
aggregate of 475,500 shares of Common Stock, representing approximately 2.1% of
the outstanding shares of Common Stock.
-7-
As of the date hereof, Barington Company Equities Partners, L.P.
beneficially owns an aggregate of 339,200 shares of Common Stock, representing
approximately 1.5% of the outstanding shares of Common Stock.
As of the date hereof, Ramius Securities, LLC beneficially owns an
aggregate of 89,500 shares of Common Stock, representing less than 1% of the
outstanding shares of Common Stock.
As of the date hereof, Domrose Sons Partnership beneficially owns an
aggregate of 8,000 shares of Common Stock, representing less than 1% of the
outstanding shares of Common Stock.
Item 7 of the Schedule 13D, "Material to be Filed as Exhibits," is
amended by adding the following:
99.11 Letter to Liquid Audio, Inc. dated February 12, 2002.
99.12 Letter to Liquid Audio, Inc. dated February 22, 2002.
Schedule III of the Schedule 13D, "Shares purchased by
musicmaker.com, Inc.," is deleted in its entirety and replaced with the
following:
Date Number of Shares Price Per Share Cost(1)
---- ---------------- --------------- -------
8/14/01 2,000 $ 2.25 $ 4,500.00
8/15/01 100,000 $ 2.33 $ 233,000.00
8/16/01 5,000 $ 2.30 $ 11,500.00
8/21/01 10,000 $ 2.30 $ 23,000.00
8/27/01 20,000 $ 2.33 $ 46,600.00
8/28/01 15,000 $ 2.38 $ 35,700.00
8/28/01 5,000 $ 2.28 $ 11,400.00
9/4/01 12,000 $ 2.37 $ 28,400.00
9/5/01 2,500 $ 2.31 $ 5,775.00
9/5/01 1,000 $ 2.32 $ 2,320.00
9/6/01 10,000 $ 2.33 $ 23,300.00
9/17/01 7,000 $ 2.14 $ 14,980.00
9/17/01 5,000 $ 2.06 $ 10,300.00
9/18/01 10,000 $ 2.135 $ 21,350.00
9/19/01 10,000 $ 2.197 $ 21,970.00
9/20/01 10,000 $ 2.18 $ 21,800.00
9/21/01 6,500 $ 2.07 $ 13,455.00
9/24/01 25,000 $ 2.12 $ 53,000.00
9/24/01 10,000 $ 2.10 $ 21,000.00
9/25/01 50,000 $ 2.048 $ 102,400.00
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(1) Excludes commissions and other execution-related costs.
-8-
Date Number of Shares Price Per Share Cost(1)
---- ---------------- --------------- -------
9/26/01 25,000 $ 2.035 $ 50,875.00
9/27/01 30,000 $ 2.052 $ 61,560.00
9/28/01 27,500 $ 2.07 $ 56,925.00
10/1/01 30,000 $ 2.075 $ 62,250.00
10/4/01 30,000 $ 2.13 $ 63,900.00
10/5/01 50,000 $ 2.135 $ 106,750.00
10/5/01 7,000 $ 2.13 $ 14,910.00
11/16/01 25,000 $ 2.34 $ 58,500.00
11/21/01 5,000 $ 2.35 $ 11,750.00
11/30/01 3,600 $ 2.32 $ 8,352.00
12/14/01 3,000 $ 2.31 $ 6,930.00
12/17/01 50,000 $ 2.33 $ 116,500.00
12/18/01 25,000 $ 2.34 $ 58,500.00
12/28/01 5,000 $ 2.31 $ 11,550.00
12/28/01 2,900 $ 2.31 $ 6,699.00
12/28/01 5,000 $ 2.31 $ 11,550.00
12/31/02 3,200 $ 2.30 $ 7,360.00
2/25/02 1,500 $ 2.22 $ 3,330.00
2/27/02 2,000 $ 2.23 $ 4,460.00
2/27/02 2,000 $ 2.24 $ 4,480.00
2/27/02 3,800 $ 2.24 $ 8,512.00
2/27/02 2,000 $ 2.21 $ 4,420.00
2/28/02 1,200 $ 2.21 $ 2,652.00
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(1) Excludes commissions and other execution-related costs.
-9-
SIGNATURES
After reasonable inquiry and to the best knowledge and belief of
the undersigned, the undersigned certify that the information set forth in this
Statement is true, complete and correct.
Dated: March 1, 2002
MUSICMAKER.COM, INC.
By /s/ James A. Mitarotonda
-------------------------------------
Name: James A. Mitarotonda
Title: President and Chief Executive
Officer
JEWELCOR MANAGEMENT, INC.
By /s/ Seymour Holtzman
-------------------------------------
Name: Seymour Holtzman
Title: Chairman and Chief Executive
Officer
BARINGTON COMPANIES EQUITY PARTNERS, L.P.
By: Barington Companies Investors, LLC,
its general partner
By /s/ James A. Mitarotonda
-------------------------------------
Name: James A. Mitarotonda
Title: President and Chief Executive
Officer
RAMIUS SECURITIES, LLC
By: Ramius Capital Group, LLC, its
managing member
By /s/ Peter A. Cohen
-------------------------------------
Name: Peter A. Cohen
Title: Manager
DOMROSE SONS PARTNERSHIP
By /s/ James A. Mitarotonda
------------------------------------
Name: James A. Mitarotonda
Title: Partner
-10-