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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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SCHEDULE 13D
(RULE 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
RULE 13d-2(a)
(Amendment No. 1)(1)
Dave & Buster's, Inc.
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(Name of Issuer)
Common Stock, $.01 Par Value
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(Title of Class of Securities)
23833N104
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(CUSIP Number)
STEVEN WOLOSKY, ESQ.
OLSHAN GRUNDMAN FROME ROSENZWEIG & WOLOSKY LLP
Park Avenue Tower
65 East 55th Street
New York, New York 10022
(212) 451-2300
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
February 28, 2006
-----------------
(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 Rule 13d-1(e), 13d-1(f) or 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 Rule 13d-7 for
other parties to whom copies are to be sent.
(Continued on following pages)
(Page 1 of 12 Pages)
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(1) 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 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 23833N104 13D Page 2 of 12 Pages
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================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
NEWCASTLE PARTNERS, L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
- --------------------------------------------------------------------------------
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
TEXAS
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 785,600
OWNED BY -----------------------------------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING
PERSON WITH - 0 -
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
785,600
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- 0 -
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
785,600
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.5%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP 23833N104 13D Page 3 of 12 Pages
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================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
NEWCASTLE CAPITAL MANAGEMENT, L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
- --------------------------------------------------------------------------------
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
TEXAS
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 785,600
OWNED BY -----------------------------------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING
PERSON WITH - 0 -
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
785,600
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- 0 -
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
785,600
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.5%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP 23833N104 13D Page 4 of 12 Pages
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================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
NEWCASTLE CAPITAL GROUP, L.L.C.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
- --------------------------------------------------------------------------------
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
TEXAS
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 785,600
OWNED BY -----------------------------------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING
PERSON WITH - 0 -
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
785,600
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- 0 -
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
785,600
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.5%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP 23833N104 13D Page 5 of 12 Pages
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================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
MARK E. SCHWARZ
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
- --------------------------------------------------------------------------------
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
USA
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 785,600
OWNED BY -----------------------------------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING
PERSON WITH - 0 -
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
785,600
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- 0 -
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
785,600
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.5%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
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CUSIP 23833N104 13D Page 6 of 12 Pages
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The following constitutes Amendment No. 1 ("Amendment No. 1")
to the Schedule 13D filed by the undersigned. This Amendment No. 1 amends the
Schedule 13D as specifically set forth.
Item 3 is hereby amended in its entirety to read as follows:
Item 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
As of February 28, 2006, NP had invested $14,065,913
(inclusive of brokerage commissions) in shares of Common Stock of the Issuer.
The source of these funds was the working capital of NP.
Item 4 is hereby amended to include the following:
Item 4. PURPOSE OF TRANSACTION.
On February 28, 2006, NP, as beneficial owner of the shares of Common
Stock, delivered a letter to the Issuer (i) objecting to the proposal of the
Company to approve the Agreement and Plan of Merger, dated as of December 8,
2005, among the Company, WS Midway Holdings, Inc. and WS Acquisition Sub, Inc.,
pursuant to which WS Acquisition Sub, Inc. will be merged with and into the
Company (the "Plan of Merger"), (ii) notifying the Issuer that NP had voted
against the Plan of Merger, and (iii) notifying the Issuer that NP intends to
make a written demand on the Issuer for payment of full value of its shares
pursuant to the appraisal rights provisions of Missouri law.
Items 5(a) and (b) are hereby amended in their entirety to read as
follows:
Item 5. INTEREST IN SECURITIES OF THE ISSUER.
(a) The aggregate percentage of shares of Common Stock
reported to be owned by the Reporting Persons is based upon 14,313,500 shares
outstanding, which is the total number of shares of Common Stock outstanding as
of January 18, 2006, as reported in the Issuer's proxy statement filed with the
Securities and Exchange Commission on January 25, 2006.
As of February 1, 2006, NP beneficially owned 785,600 shares
of Common Stock, representing approximately 5.5% of the issued and outstanding
Common Stock of the Issuer.
NCM, as the general partner of NP, may also be deemed to
beneficially own the 785,600 shares of Common Stock beneficially owned by NP.
NCG, as the general partner of NCM, which in turn is the
general partner of NP, may also be deemed to beneficially own the 785,600 shares
of Common Stock beneficially owned by NP.
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CUSIP 23833N104 13D Page 7 of 12 Pages
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Mark E. Schwarz, as the managing member of NCG, the general
partner of NCM, which in turn is the general partner of NP, may also be deemed
to beneficially own the 785,600 shares of Common Stock beneficially owned by NP.
NCM, NCG and Mr. Schwarz disclaim beneficial ownership of the
shares of Common Stock beneficially owned by NP, except to the extent of their
pecuniary interest therein.
(b) By virtue of his position with NP, NCM and NCG, Mr.
Schwarz has the sole power to vote and dispose of the shares of Common Stock
reported in this Statement.
Item 5(c) is hereby amended to include the following:
(c) Except as set forth below, Schedule A annexed hereto lists
all transactions in the Common Stock since the filing of the initial Schedule
13D. Such transactions in the Common Stock were effected in the open market.
Item 7. MATERIAL TO BE FILED AS EXHIBITS.
2. Letter dated February 27, 2006 sent by Cede & Co., at the
request of Banc of America Securities, L.L.C. in behalf of NP, to Dave &
Buster's, Inc.
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CUSIP 23833N104 13D Page 8 of 12 Pages
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SIGNATURES
After reasonable inquiry and to the best of his knowledge and
belief, each of the undersigned certifies that the information set forth in this
Statement is true, complete and correct.
Dated: March 2, 2006 NEWCASTLE PARTNERS, L.P.
By: Newcastle Capital Management, L.P.,
its General Partner
By: Newcastle Capital Group, L.L.C.,
its General Partner
By: /s/ Mark E. Schwarz
----------------------------------------
Mark E. Schwarz, Managing Member
NEWCASTLE CAPITAL MANAGEMENT, L.P.
By: Newcastle Capital Group, L.L.C.,
its General Partner
By: /s/ Mark E. Schwarz
----------------------------------------
Mark E. Schwarz, Managing Member
NEWCASTLE CAPITAL GROUP, L.L.C.
By: /s/ Mark E. Schwarz
----------------------------------------
Mark E. Schwarz, Managing Member
/s/ Mark E. Schwarz
---------------------------------------------
MARK E. SCHWARZ
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CUSIP 23833N104 13D Page 9 of 12 Pages
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SCHEDULE A
TRANSACTIONS IN THE COMMON STOCK SINCE THE FILING OF THE INITIAL SCHEDULE 13D
Shares of Common Stock Price Per Date of
Purchased Share($) Purchase
--------- -------- --------
NEWCASTLE PARTNERS, L.P.
60,900 $17.90 2/2/06
7,200 $17.90 2/2/06
NEWCASTLE CAPITAL MANAGEMENT, L.P.
None
NEWCASTLE CAPITAL GROUP, L.L.C.
None
MARK E. SCHWARZ
None
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CUSIP 23833N104 13D Page 10 of 12 Pages
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EXHIBIT INDEX
Exhibit Page
- ------- ----
1. Joint Filing Agreement by and among Newcastle Previously
Partners, L.P., Newcastle Capital Management, L.P., filed.
Newcastle Capital Group, L.L.C. and Mark E. Schwarz,
dated February 2, 2006.
2. Letter dated February 27, 2006 sent by Cede & Co., at 11-12
the request of Banc of America Securities, L.L.C. in
behalf of NP, to Dave & Buster's, Inc
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CUSIP 23833N104 13D Page 11 of 12 Pages
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EXHIBIT 2
CEDE & CO.
C/O THE DEPOSITORY TRUST COMPANY
55 WATER STREET
NEW YORK, NEW YORK 10041
February 27, 2006
BY FACSIMILE AND OVERNIGHT COURIER
Dave & Buster's, Inc.
2481 Manana Drive
Dallas, Texas 75220
Attention: Corporate Secretary
Dear Sir:
Cede & Co., the nominee of The Depository Trust Company ("DTC"), is a
holder of record of shares of common stock of Dave & Buster's, Inc. (the
"Company"). DTC is informed by its Participant, Banc of America Securities LLC
(the "Participant"), that on the date hereof 785,600 of such shares (the
"Shares") credited to Participant's DTC account are beneficially owned by
Newcastle Partners, L.P. ("Newcastle"), a customer of Participant.
Cede & Co., on behalf of Newcastle, states that on or about January 25,
2006, the Company mailed a Notice of Special Meeting of Stockholders (the
"Merger Proxy") requesting, among other things, that the Company's stockholders
consider and vote upon a proposal to approve the Agreement and Plan of Merger
(the "Plan of Merger"), dated as of December 8, 2005, among the Company, WS
Midway Holdings, Inc. and WS Acquisition Sub, Inc., pursuant to which WS
Acquisition Sub, Inc. will be merged with and into the Company, and upon the
merger becoming effective, each issued and outstanding share of Common Stock of
the Company will be converted into the right to receive $18.05 in cash, other
than shares held by stockholders who perfect their appraisal rights under
Missouri law, and certain other shares.
Cede & Co., on behalf of Newcastle, as provided in the Merger Proxy and
pursuant to Section 351.455 of the Missouri General and Business Corporation Law
("Section 351.455"), hereby (i) objects to the Plan of Merger, (ii) notifies the
Company that Newcastle has taken such required action as is necessary to cause
its shares to be voted against the Plan of Merger, and (iii) notifies the
Company that Newcastle intends to make a written demand on the Company for
payment of full value of its shares pursuant to Section 351.455.
While Cede & Co. is furnishing this request as the shareholder of
record of the Shares, it does so only at the request of Participant and only as
a nominal party for the true party in interest, Newcastle. Cede & Co. has no
interest in this matter other than to take those steps which are necessary to
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CUSIP 23833N104 13D Page 12 of 12 Pages
- ------------------ ----------------------
ensure that Newcastle is not denied its rights as the beneficial owner of the
Shares, and Cede & Co. assumes no further responsibility in this matter.
Please address any correspondence to Newcastle Partners, L.P.,
Attention: Mark E. Schwarz, telephone (214) 661-7474, facsimile (214) 661-7475
(with a copy to our counsel, Olshan Grundman Frome Rosenzweig & Wolosky LLP,
Park Avenue Tower, 65 East 55th Street, New York, New York 10022, Attention:
Steven Wolosky, Esq., telephone (212) 451-2333, facsimile (212) 451-2222).
Very truly yours,
Cede & Co.
By: /s/ Patricia Mobley
-------------------
Patricia Mobley,
Partner