sc13dza
 
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
SCHEDULE 13D
(Amendment No. 4)
Under the Securities Exchange Act of 1934
Dynegy Inc.
 
(Name of Issuer)
Class A Common Stock, par value $0.01 per share
 
(Title of Class of Securities)
26817G102
 
(CUSIP Number)
David A. Kurzweil
Latham & Watkins LLP
885 Third Avenue
New York, New York 10022
(212) 906-1200
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
April 27, 2010
 
(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 subject of this Schedule 13D, and is filing this statement because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box. o
*   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).

 

 

                     
CUSIP No.
  
26817G102 
  

 

           
1   NAME OF REPORTING PERSON:

LS Power Development, LLC
     
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF GROUP (SEE INSTRUCTIONS):
  (a)   o 
  (b)   o 
     
3   SEC USE ONLY:
   
   
     
4   SOURCE OF FUNDS:
   
  OO
     
5   CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
   
  o
     
6   CITIZENSHIP OR PLACE OF ORGANIZATION
   
  Delaware
       
  7   SOLE VOTING POWER:
     
NUMBER OF   0
       
SHARES 8   SHARED VOTING POWER:
BENEFICIALLY    
OWNED BY   62,521,135
       
EACH 9   SOLE DISPOSITIVE POWER:
REPORTING    
PERSON   0
       
WITH: 10   SHARED DISPOSITIVE POWER:
     
    62,521,135
     
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:
   
  62,521,135
     
12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS):
   
  o
     
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):
   
  10.4%*
     
14   TYPE OF REPORTING PERSON
   
  OO
*As reported in the Issuer’s Annual Report on Form 10-K filed on February 25, 2010.

Page 2 of 14

 

                     
CUSIP No.
  
26817G102 
  

 

           
1   NAME OF REPORTING PERSON:

LS Power Partners, L.P.
     
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF GROUP (SEE INSTRUCTIONS):
  (a)   o 
  (b)   o 
     
3   SEC USE ONLY:
   
   
     
4   SOURCE OF FUNDS:
   
  OO
     
5   CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
   
  o
     
6   CITIZENSHIP OR PLACE OF ORGANIZATION
   
  Delaware
       
  7   SOLE VOTING POWER:
     
NUMBER OF   0
       
SHARES 8   SHARED VOTING POWER:
BENEFICIALLY    
OWNED BY   53,539,738
       
EACH 9   SOLE DISPOSITIVE POWER:
REPORTING    
PERSON   0
       
WITH: 10   SHARED DISPOSITIVE POWER:
     
    53,539,738
     
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:
   
  53,539,738
     
12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS):
   
  o
     
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):
   
  8.9%*
     
14   TYPE OF REPORTING PERSON
   
  PN
*As reported in the Issuer’s Annual Report on Form 10-K filed on February 25, 2010.

Page 3 of 14

 

                     
CUSIP No.
  
26817G102 
  

 

           
1   NAME OF REPORTING PERSON:

LS Power Associates, L.P.
     
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF GROUP (SEE INSTRUCTIONS):
  (a)   o 
  (b)   o 
     
3   SEC USE ONLY:
   
   
     
4   SOURCE OF FUNDS:
   
  OO
     
5   CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
   
  o
     
6   CITIZENSHIP OR PLACE OF ORGANIZATION
   
  Delaware
       
  7   SOLE VOTING POWER:
     
NUMBER OF   0
       
SHARES 8   SHARED VOTING POWER:
BENEFICIALLY    
OWNED BY   8,981,397
       
EACH 9   SOLE DISPOSITIVE POWER:
REPORTING    
PERSON   0
       
WITH: 10   SHARED DISPOSITIVE POWER:
     
    8,981,397
     
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:
   
  8,981,397
     
12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS):
   
  o
     
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):
   
  1.5%*
     
14   TYPE OF REPORTING PERSON
   
  PN
*As reported in the Issuer’s Annual Report on Form 10-K filed on February 25, 2010.

Page 4 of 14

 

                     
CUSIP No.
  
26817G102 
  

 

           
1   NAME OF REPORTING PERSON:

LS Power Equity Partners, L.P.
     
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF GROUP (SEE INSTRUCTIONS):
  (a)   o 
  (b)   o 
     
3   SEC USE ONLY:
   
   
     
4   SOURCE OF FUNDS:
   
  OO
     
5   CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
   
  o
     
6   CITIZENSHIP OR PLACE OF ORGANIZATION
   
  Delaware
       
  7   SOLE VOTING POWER:
     
NUMBER OF   0
       
SHARES 8   SHARED VOTING POWER:
BENEFICIALLY    
OWNED BY   32,201,568
       
EACH 9   SOLE DISPOSITIVE POWER:
REPORTING    
PERSON   0
       
WITH: 10   SHARED DISPOSITIVE POWER:
     
    32,201,568
     
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:
   
  32,201,568
     
12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS):
   
  o
     
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):
   
  5.4%*
     
14   TYPE OF REPORTING PERSON
   
  PN
*As reported in the Issuer’s Annual Report on Form 10-K filed on February 25, 2010.

Page 5 of 14

 

                     
CUSIP No.
  
26817G102 
  

 

           
1   NAME OF REPORTING PERSON:

LS Power Equity Partners PIE I, L.P.
     
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF GROUP (SEE INSTRUCTIONS):
  (a)   o 
  (b)   o 
     
3   SEC USE ONLY:
   
   
     
4   SOURCE OF FUNDS:
   
  OO
     
5   CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
   
  o
     
6   CITIZENSHIP OR PLACE OF ORGANIZATION
   
  Delaware
       
  7   SOLE VOTING POWER:
     
NUMBER OF   0
       
SHARES 8   SHARED VOTING POWER:
BENEFICIALLY    
OWNED BY   19,526,198
       
EACH 9   SOLE DISPOSITIVE POWER:
REPORTING    
PERSON   0
       
WITH: 10   SHARED DISPOSITIVE POWER:
     
    19,526,198
     
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:
   
  19,526,198
     
12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS):
   
  o
     
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):
   
  3.3%*
     
14   TYPE OF REPORTING PERSON
   
  PN
*As reported in the Issuer’s Annual Report on Form 10-K filed on February 25, 2010.

Page 6 of 14

 

                     
CUSIP No.
  
26817G102 
  

 

           
1   NAME OF REPORTING PERSON:

LSP Gen Investors, L.P.
     
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF GROUP (SEE INSTRUCTIONS):
  (a)   o 
  (b)   o 
     
3   SEC USE ONLY:
   
   
     
4   SOURCE OF FUNDS:
   
  OO
     
5   CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
   
  o
     
6   CITIZENSHIP OR PLACE OF ORGANIZATION
   
  Delaware
       
  7   SOLE VOTING POWER:
     
NUMBER OF   0
       
SHARES 8   SHARED VOTING POWER:
BENEFICIALLY    
OWNED BY   766,246
       
EACH 9   SOLE DISPOSITIVE POWER:
REPORTING    
PERSON   0
       
WITH: 10   SHARED DISPOSITIVE POWER:
     
    766,246
     
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:
   
  766,246
     
12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS):
   
  o
     
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):
   
  0.1%*
     
14   TYPE OF REPORTING PERSON
   
  PN
*As reported in the Issuer’s Annual Report on Form 10-K filed on February 25, 2010.

Page 7 of 14

 

                     
CUSIP No.
  
26817G102 
  

 

           
1   NAME OF REPORTING PERSON:

Mikhail Segal
     
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF GROUP (SEE INSTRUCTIONS):
  (a)   o 
  (b)   o 
     
3   SEC USE ONLY:
   
   
     
4   SOURCE OF FUNDS:
   
  OO
     
5   CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
   
  o
     
6   CITIZENSHIP OR PLACE OF ORGANIZATION
   
  United States
       
  7   SOLE VOTING POWER:
     
NUMBER OF   0
       
SHARES 8   SHARED VOTING POWER:
BENEFICIALLY    
OWNED BY   62,521,135
       
EACH 9   SOLE DISPOSITIVE POWER:
REPORTING    
PERSON   0
       
WITH: 10   SHARED DISPOSITIVE POWER:
     
    62,521,135
     
11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:
   
  62,521,135
     
12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS):
   
  o
     
13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):
   
  10.4%*
     
14   TYPE OF REPORTING PERSON
   
  IN
*As reported in the Issuer’s Annual Report on Form 10-K filed on February 25, 2010.

Page 8 of 14

 

This Amendment No. 4 amends the statement on Schedule 13D filed on December 10, 2009 and amended on March 22, 2010, April 2, 2010 and April 20, 2010 (the “Schedule 13D”), by and on behalf of the Reporting Persons relating to the Class A Common Stock of Dynegy Inc. Capitalized terms used but not defined in this Amendment No. 4 shall have the same meanings herein as are ascribed to such terms in the Schedule 13D. This Amendment No. 4 reports beneficial ownership of the Issuer’s Class A Common Stock as of April 29, 2010.
Item 5. Interest in Securities of the Issuer.
The information set forth in Item 5 is hereby amended and supplemented with the following:
     (a) and (b) The information contained on the cover pages to this Schedule 13D and Item 3 is incorporated herein by reference.
     As of April 29, 2010, the Reporting Persons held a total of 62,521,135 shares of the Issuer’s Class A Common Stock. Of these shares, LSP Partners directly holds 1,045,726 shares, LSP Associates directly holds 8,981,397 shares, LSPEP directly holds 32,201,568 shares, PIE I directly holds 19,526,198 shares, and Gen Investors directly holds 766,246 shares. As a result of its relationship with LSPEP, PIE I and Gen Investors, LSP Partners may be deemed the beneficial owner of 53,539,738 shares of Class A Common Stock, representing approximately 8.9% of the outstanding shares of Class A Common Stock as reported in the Issuer’s Annual Report on Form 10-K filed on February 25, 2010. As a result of its relationship with LSP Partners and LSP Associates, LSP Development may be deemed the beneficial owner of 62,521,135 shares of Class A Common Stock, representing approximately 10.4% of the outstanding shares of Class A Common Stock as calculated in the previous sentence. As a result of his position, Mikhail Segal may be deemed to control LSP Development and to have shared beneficial ownership of 62,521,135 shares of Class A Common Stock, representing approximately 10.4% of the outstanding shares of Class A Common Stock as calculated above.
     (c) Please see Annex A for a list of transactions in the Issuer’s Class A Common Stock from April 19, 2010 to April 29, 2010. All of the transactions reported on Annex A were executed through brokers and settled through facilities of The Depository Trust & Clearing Corporation (DTCC).
     (d) Not applicable.
     (e) Not applicable.
Item 7. Material to be Filed as Exhibits.
1.   Joint Filing Agreement, dated as of December 10, 2009, by and among the Reporting Persons. (incorporated by reference to Exhibit 1 to the Reporting Persons Schedule 13D filed on December 10, 2009).

Page 9 of 14

 

2.   Purchase and Sale Agreement, dated as of August 9, 2009, among LS Power Partners, L.P., LS Power Associates, L.P., LS Power Equity Partners, L.P., LS Power Equity Partners PIE I, L.P., LSP Gen Investors, L.P., Port River, LLC, Valley Road, LLC, Dos Rios, LLC, Dynegy Inc., Dynegy Gen Finance Co, LLC, Southwest Power Partners, LLC, Riverside Generation, Inc., Dynegy Renaissance Power, Inc., Bluegrass Generation, Inc., Dynegy Midwest Generation, Inc., RRP Company, Dynegy Power Services, Inc., and Dynegy Falcon Holdings Inc. (incorporated by reference to Exhibit 2.1 to the Issuer’s Form 8-K filed with the Securities and Exchange Commission on August 13, 2009).
3.   Amendment No. 1 to the Purchase and Sale Agreement, dated as of November 25, 2009, by and among LS Power Partners, L.P., LS Power Associates, L.P., LS Power Equity Partners, L.P., LS Power Equity Partners PIE I, L.P., LSP Gen Investors, L.P., Port River, LLC, Valley Road, LLC, Dos Rios, LLC, Dynegy Inc., Dynegy Gen Finance Co, LLC, Southwest Power Partners, LLC, Riverside Generation, Inc., Dynegy Renaissance Power, Inc., Bluegrass Generation, Inc., Dynegy Midwest Generation, Inc., RRP Company, Dynegy Power Services, Inc., and Dynegy Falcon Holdings Inc. (incorporated by reference to Exhibit 2.1 to the Issuer’s Form 8-K filed with the Securities and Exchange Commission on December 1, 2009).
4.   Shareholder Agreement, dated as of August 9, 2009, among Dynegy Inc. and LS Power Partners, L.P., LS Power Associates, L.P., LS Power Equity Partners, L.P., LS Power Equity Partners PIE I, L.P., and LSP Gen Investors, L.P. (incorporated by reference to Exhibit 10.1 to the Issuer’s Form 8-K filed with the Securities and Exchange Commission on August 13, 2009).
5.   Amendment No. 1 to the Registration Rights Agreement dated September 14, 2006 by and between Dynegy Inc. and LS Power Partners, L.P., LS Power Associates, L.P., LS Power Equity Partners, L.P., LS Power Equity Partners PIE I, L.P., and LSP Gen Investors, L.P. (incorporated by reference to Exhibit 10.2 to the Issuer’s Form 8-K filed with the Securities and Exchange Commission on August 13, 2009).
6.   Registration Rights Agreement, dated as of September 14, 2006, among Dynegy Acquisition, Inc., LS Power Partners, L.P., LS Power Associates, L.P., LS Power Equity Partners, L.P., LS Power Equity Partners PIE I, L.P. and LSP Gen Investors, L.P. (incorporated by reference to Exhibit 4.2 to the Current Report on Form 8-K of Dynegy Inc. filed on September 19, 2006, File No. 1-15659).

Page 10 of 14

 

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.
Date: April 29, 2010
         
LS POWER DEVELOPMENT LLC    
 
        
By:
  /s/ Darpan Kapadia    
 
       
Name:
  Darpan Kapadia    
Title:
  Managing Director    
 
        
LS POWER PARTNERS, L.P.    
 
        
By:
  /s/ Darpan Kapadia    
 
       
Name:
  Darpan Kapadia    
Title:
  Managing Director    
 
        
LS POWER ASSOCIATES, L.P.    
 
        
By:
  LS Power Development, LLC, its
General Partner		    
 
        
By:
  /s/ Darpan Kapadia    
 
       
Name:
  Darpan Kapadia    
Title:
  Managing Director    
 
        
LS POWER EQUITY PARTNERS, L.P.    
 
        
By:
  LS Power Partners, L.P., its General
Partner		    
 
        
By:
  /s/ Darpan Kapadia    
 
       
Name:
  Darpan Kapadia    
Title:
  Managing Director    

Page 11 of 14

 

     
LS POWER EQUITY PARTNERS PIE, L.P.
 
    
By:
  LS Power Partners, L.P., its General
Partner
 
    
By:
  /s/ Darpan Kapadia
 
   
Name:
  Darpan Kapadia
Title:
  Managing Director
 
    
LSP GEN INVESTORS, L.P.
 
    
By:
  LS Power Partners, L.P., its General
Partner
 
    
By:
  /s/ Darpan Kapadia
 
   
Name:
  Darpan Kapadia
Title:
  Managing Director
 
    
MIKHAIL SEGAL
 
    
/s/ Mikhail Segal
 

Page 12 of 14

 

ANNEX A
Transactions in Dynegy Inc. Class A Common Stock
April 19, 2010 to April 29, 2010
                         
Date of Transaction   Nature of Transaction   Number of Shares   Avg. Price per Share
LS Power Associates, L.P.
 
                        
April 19, 2010
   SELL     147,489     $ 1.1707  
April 20, 2010
   SELL     211,740     $ 1.1905  
April 21, 2010
   SELL     115,346     $ 1.2224  
April 22, 2010
   SELL     191,481     $ 1.2631  
April 23, 2010
   SELL     145,617     $ 1.2816  
April 26, 2010
   SELL     139,116     $ 1.3025  
April 27, 2010
   SELL     105,860     $ 1.3080  
April 28, 2010
   SELL     58,971     $ 1.3006  
April 29, 2010
   SELL     105,753     $ 1.3410  
 
                        
LS Power Equity Partners, L.P.
 
                        
April 19, 2010
   SELL     528,803     $ 1.1707  
April 20, 2010
   SELL     759,163     $ 1.1905  
April 21, 2010
   SELL     413,559     $ 1.2224  
April 22, 2010
   SELL     686,529     $ 1.2631  
April 23, 2010
   SELL     522,091     $ 1.2816  
April 26, 2010
   SELL     498,783     $ 1.3025  
April 27, 2010
   SELL     379,546     $ 1.3080  
April 28, 2010
   SELL     211,435     $ 1.3006  
April 29, 2010
   SELL     379,165     $ 1.3410  
 
                        
LS Power Equity Partners PIE I, L.P.
 
                        
April 19, 2010
   SELL     320,652     $ 1.1707  
April 20, 2010
   SELL     460,337     $ 1.1905  
April 21, 2010
   SELL     250,772     $ 1.2224  
April 22, 2010
   SELL     416,293     $ 1.2631  
April 23, 2010
   SELL     316,583     $ 1.2816  
April 26, 2010
   SELL     302,449     $ 1.3025  
April 27, 2010
   SELL     230,147     $ 1.3080  
April 28, 2010
   SELL     128,208     $ 1.3006  
April 29, 2010
   SELL     229,916     $ 1.3410  
 
                        
LS Power Partners, L.P.
 
                        
April 19, 2010
   SELL     17,172     $ 1.1707  
April 20, 2010
   SELL     24,653     $ 1.1905  
April 21, 2010
   SELL     13,430     $ 1.2224  
April 22, 2010
   SELL     22,295     $ 1.2631  
April 23, 2010
   SELL     16,955     $ 1.2816  
April 26, 2010
   SELL     16,198     $ 1.3025  
April 27, 2010
   SELL     12,325     $ 1.3080  

Page 13 of 14

 

                         
Date of Transaction   Nature of Transaction   Number of Shares   Avg. Price per Share
April 28, 2010
   SELL     6,866     $ 1.3006  
April 29, 2010
   SELL     12,313     $ 1.3410  
 
                        
LSP Gen Investors, L.P.
 
                        
April 19, 2010
   SELL     12,583     $ 1.1707  
April 20, 2010
   SELL     18,065     $ 1.1905  
April 21, 2010
   SELL     9,841     $ 1.2224  
April 22, 2010
   SELL     16,336     $ 1.2631  
April 23, 2010
   SELL     12,423     $ 1.2816  
April 26, 2010
   SELL     11,869     $ 1.3025  
April 27, 2010
   SELL     9,031     $ 1.3080  
April 28, 2010
   SELL     5,031     $ 1.3006  
April 29, 2010
   SELL     9,022     $ 1.3410  

Page 14 of 14