UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D/A
(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)
UNIFAB INTERNATIONAL, INC.
(Name of Issuer)
COMMON STOCK, PAR VALUE $.01 PER SHARE
(Title of Class of Securities)
90467L209
(CUSIP Number)
William A. Hines
Midland Fabricators and Process Systems, L.L.C.
3636 N. Causeway, Suite 300, Metairie, Louisiana 70002
(504) 837-5766
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
Copy to:
Virginia Boulet, Esq.
Adams and Reese LLP
4500 One Shell Square
New Orleans, Louisiana 70139
(504) 581-3234
August 30, 2004
(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 6 Pages)
CUSIP No. 90467L209 13D/A Page 2 of 6 Pages
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1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
Midland Fabricators and Process Systems, L.L.C.
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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
OO
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5. Check 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
Louisiana
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Number of 7. Sole Voting Power
Shares 10,379,404 *
Beneficially -------------------------------------------------
Owned by 8. Shared Voting Power
Each 0
Reporting -------------------------------------------------
Person 9. Sole Dispositive Power
With 10,379,404 *
-------------------------------------------------
10. Shared Dispositive Power
0
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11. Aggregate Amount Beneficially Owned by Each Reporting Person
10,379,404 *
*Represents (i) 7,336,100 shares of common stock held by Midland, and (ii)
3,043,304 shares of common stock issuable upon conversion of the convertible
debenture issued by UNIFAB in the principal amount of $10,651,564.
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12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares [X]
--------------------------------------------------------------------------------
13. Percent of Class Represented by Amount in Row (11)
92.1% **
**The calculation of this percentage is based on 8,226,913 shares of
common stock outstanding as of August 8, 2004, as reported in the Company's Form
10-Q filed on August 16, 2004, and assumes the conversion of the convertible
debenture into 3,043,304 shares of common stock.
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14. Type of Reporting Person
OO
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CUSIP No. 90467L209 13D/A Page 3 of 6 Pages
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1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
William A. Hines
--------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group (a) [X]
(b) [ ]
--------------------------------------------------------------------------------
3. SEC Use Only
--------------------------------------------------------------------------------
4. Source of Funds
AF, OO
--------------------------------------------------------------------------------
5. Check if Disclosure of Legal Proceedings Is Required Pursuant
to Items 2(d) or 2(e) [ ]
--------------------------------------------------------------------------------
6. Citizenship or Place of Organization
United States
--------------------------------------------------------------------------------
Number of 7. Sole Voting Power
Shares 1,097
Beneficially -------------------------------------------------
Owned by 8. Shared Voting Power
Each 10,379,404 *
Reporting -------------------------------------------------
Person 9. Sole Dispositive Power
With 1,097
-------------------------------------------------
10. Shared Dispositive Power
10,379,404 *
--------------------------------------------------------------------------------
11. Aggregate Amount Beneficially Owned by Each Reporting Person
10,380,501 *
*Represents (i) 7,336,100 shares of common stock held by Midland, (ii)
3,043,304 shares of common stock issuable upon conversion of the convertible
debenture issued by UNIFAB in the principal amount of $10,651,564, and (iii)
1,097 shares of common stock held directly by Mr. Hines.
--------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares [ ]
--------------------------------------------------------------------------------
13. Percent of Class Represented by Amount in Row (11)
92.1%**
**The calculation of this percentage is based on 8,226,913 shares of
common stock outstanding as of August 8, 2004, as reported in the Company's Form
10-Q filed on August 16, 2004, and assumes the conversion of the convertible
debenture into 3,043,304 shares of common stock.
--------------------------------------------------------------------------------
14. Type of Reporting Person
IN
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CUSIP No. 90467L209 13D/A Page 4 of 6 Pages
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1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
Jeanne M. Hines McDaniel
--------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group (a) [X]
(b) [ ]
--------------------------------------------------------------------------------
3. SEC Use Only
--------------------------------------------------------------------------------
4. Source of Funds
AF, OO
--------------------------------------------------------------------------------
5. Check if Disclosure of Legal Proceedings Is Required Pursuant
to Items 2(d) or 2(e) [ ]
--------------------------------------------------------------------------------
6. Citizenship or Place of Organization
United States
--------------------------------------------------------------------------------
Number of 7. Sole Voting Power
Shares 0
Beneficially -------------------------------------------------
Owned by 8. Shared Voting Power
Each 10,379,404 *
Reporting -------------------------------------------------
Person 9. Sole Dispositive Power
With 0
-------------------------------------------------
10. Shared Dispositive Power
10,379,404 *
--------------------------------------------------------------------------------
11. Aggregate Amount Beneficially Owned by Each Reporting Person
10,379,404 *
*Represents (i) 7,336,100 shares of common stock held by Midland, and (ii)
3,043,304 shares of common stock issuable upon conversion of the convertible
debenture issued by UNIFAB in the principal amount of $10,651,564.
--------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares [X]
--------------------------------------------------------------------------------
13. Percent of Class Represented by Amount in Row (11)
92.1%**
**The calculation of this percentage is based on 8,226,913 shares of
common stock outstanding as of August 8, 2004, as reported in the Company's Form
10-Q filed on August 16, 2004, and assumes the conversion of the convertible
debenture into 3,043,304 shares of common stock.
--------------------------------------------------------------------------------
14. Type of Reporting Person
IN
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This Amendment No. 1 is being filed by each of Midland Fabricators and Process
Systems, L.L.C., a Louisiana limited liability company ("Midland"), William A.
Hines and Jeanne M. Hines McDaniel and amends and supplements the Schedule 13D
filed by such entity and persons with the Securities and Exchange Commission on
June 23, 2004. Except as specifically provided herein, this Amendment No. 1 does
not modify any of the information previously reported on the Schedule 13D.
Unless otherwise defined herein, all capitalized terms shall have the meanings
ascribed to them in the Schedule 13D.
ITEM 1. SECURITY AND ISSUER
There are no material changes to the information previously reported in
Item 1 of the Schedule 13D.
ITEM 2. IDENTITY AND BACKGROUND
There are no material changes to the information previously reported in
Item 2 of the Schedule 13D.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATIONS
Item 3 of the Schedule 13D is hereby amended and supplemented to add the
following disclosure:
Under the terms of the $10,651,564 convertible debenture, Midland must
give the Company written notice no less than thirty and no more than forty-five
days prior to the date of conversion. On August 30, 2004, Midland notified the
Company that it will convert $2,698,500 of the convertible debenture into
771,000 shares of the Company's common stock on September 30, 2004. The
debenture is convertible into shares of the Company's common stock at $3.50 per
share (the closing price of the Company's common stock on the Nasdaq National
Market on March 6, 2002, the date the Company concluded negotiations on the
terms of the convertible debenture, which price has been adjusted to reflect the
one for ten reverse split effected by the Company on August 1, 2003). There will
be no new funds expended in connection with the conversion.
ITEM 4. PURPOSE OF TRANSACTION
There are no material changes to the information previously reported in
Item 4 of the Schedule 13D.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
Item 5 of the Schedule 13D is hereby amended and supplemented to add the
disclosures in Items 5(a) and (c) as follows:
(a) Midland, Mr. Hines and Ms. Hines McDaniel are the beneficial owners of
approximately 92.1% of the Company's common stock. The calculation of this
percentage is based on 8,226,913 shares of common stock outstanding as of August
8, 2004, as reported in the Company's Form 10-Q filed on August 16, 2004.
Upon the conversion of $2,698,500 of the convertible debenture into
771,000 shares of the Company's common stock, Midland will own a total of
8,107,100 shares of common stock (or approximately 90.1% of the total shares of
common stock outstanding, based on 8,226,913 shares of common stock outstanding
as of August 8, 2004).
(c) None of Midland, Mr. Hines or Ms. Hines McDaniel has effected any
transaction in the common stock of the Company in the 60 days prior to the date
of the event requiring the filing of this Amendment No. 1 set forth on the cover
page hereto.
Page 5 of 6
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH
RESPECT TO SECURITIES OF THE ISSUER
Item 6 of the Schedule 13D is hereby amended and supplemented to add the
following disclosure:
At June 30, 2004, $7.8 million was outstanding and owed to Midland related
to the informal arrangement with the Company, whereby Midland has agreed from
time to time to provide financial support and funding for working capital or
other needs at Midland's discretion.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
There are no changes to the exhibit list previously reported in Item 7 of
the Schedule 13D.
Page 6 of 6
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: September 3, 2004 MIDLAND FABRICATORS AND PROCESS
SYSTEMS, L.L.C.
By: /s/ William A. Hines
------------------------------
William A. Hines
Managing Member
/s/ William A. Hines
------------------------------------
William A. Hines, individually
/s/ Jeanne M. Hines McDaniel
------------------------------------
Jeanne M. Hines McDaniel,
individually
The original statement shall be signed by each person on whose behalf the
statement is filed or his authorized representative. If the statement is signed
on behalf of a person by his authorized representative (other than an executive
officer or general partner of the filing person), evidence of the
representative's authority to sign on behalf of such person shall be filed with
the statement: provided, however, that a power of attorney for this purpose
which is already on file with the Commission may be incorporated by reference.
The name and any title of each person who signs the statement shall be typed or
printed beneath his signature.
Attention: Intentional misstatements or omissions of fact constitute Federal
criminal violations (see 18 U.S.C. 1001)
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