SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
SCHEDULE 13G
(Rule 13d-102)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO
RULES 13d-1(b), (c) AND (d) AND AMENDMENTS THERETO FILED
PURSUANT TO RULE 13d-2(b)
AG SERVICES OF AMERICA, INC.
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(Name of Issuer)
Common Stock, no par value
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(Title of Class of Securities)
001250109
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(CUSIP Number)
JULY 17, 2003
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(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[ ] Rule 13d-1(b)
[X] Rule 13d-1(c)
[ ] Rule 13d-1(d)
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CUSIP No. 13G
001250109
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Greenlight Capital, L.L.C.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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5 SOLE VOTING POWER
362,582
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NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 0
OWNED BY ---------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON WITH 362,582
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8 SHARED DISPOSITIVE POWER
0
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
362,582
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES*
[ ]
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11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
6.6%**
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12 TYPE OF REPORTING PERSON*
OO
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*SEE INSTRUCTIONS BEFORE FILLING OUT
**SEE ITEM 4(b).
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CUSIP No. 13G
001250109
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Greenlight Capital, Inc.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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5 SOLE VOTING POWER
338,100
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NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 0
OWNED BY ---------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON WITH 338,100
---------------------------------------------------
8 SHARED DISPOSITIVE POWER
0
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
338,100
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES*
[ ]
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11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
6.2%**
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12 TYPE OF REPORTING PERSON*
CO
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*SEE INSTRUCTIONS BEFORE FILLING OUT
**SEE ITEM 4(b).
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CUSIP No. 13G
001250109
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
David Einhorn
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S. Citizen
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5 SOLE VOTING POWER
700,682
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NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 0
OWNED BY ---------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON WITH 700,682
---------------------------------------------------
8 SHARED DISPOSITIVE POWER
0
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
700,682
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES*
[ ]
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11
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
12.8% **
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12 TYPE OF REPORTING PERSON*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT
**SEE ITEM 4(b).
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SCHEDULE 13G
This Schedule 13G (the "Schedule 13G") is being filed on behalf of
Greenlight Capital, L.L.C., a Delaware limited liability company ("Greenlight
LLC"), Greenlight Capital, Inc., a Delaware corporation ("Greenlight Inc.", and
together with Greenlight LLC, "Greenlight"), and Mr. David Einhorn, principal of
Greenlight, relating to shares of Common Stock of Ag Services of America, Inc.,
an Iowa corporation (the "Issuer").
This Schedule 13G relates to shares of Common Stock, no par, of the
Issuer (the "Common Stock") purchased by Greenlight LLC for the account of (i)
Greenlight Capital, L.P. ("Greenlight Fund"), of which Greenlight LLC is the
general partner, (ii) Greenlight Capital Qualified, L.P. ("Greenlight
Qualified"), of which Greenlight LLC is the general partner and, Common Stock
purchased by Greenlight Inc. for the account of Greenlight Capital Offshore,
Ltd. ("Greenlight Offshore"), for which Greenlight Inc. is investment advisor.
ITEM 1(a) NAME OF ISSUER.
Ag Services of America, Inc.
ITEM 1(b) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES.
1309 Technology Parkway
Cedar Falls, IA 50613
ITEM 2(a) NAME OF PERSON FILING.
David Einhorn, Greenlight Capital, L.L.C. and Greenlight
Capital, Inc.
ITEM 2(b) ADDRESS OF PRINCIPAL BUSINESS OFFICE, OR, IF NONE, RESIDENCE.
420 Lexington Ave., Suite 1740
New York, New York 10170
ITEM 2(c) CITIZENSHIP OR PLACE OF ORGANIZATION.
Greenlight LLC is a limited liability company organized under
the laws of the State of Delaware. Greenlight Inc. is a
corporation organized under the laws of the state of Delaware.
David Einhorn is the principal of Greenlight and a United
States citizen.
ITEM 2(d) TITLE OF CLASS OF SECURITIES.
Common Stock, no par, of the Issuer.
ITEM 2(e) CUSIP NUMBER.
001250109
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ITEM 3 REPORTING PERSON.
Inapplicable.
ITEM 4 OWNERSHIP.
(a) Greenlight and Mr. Einhorn are the beneficial owners
of 700,682 shares of Common Stock.
(b) Greenlight and Mr. Einhorn are the beneficial owners
of 12.8% of the outstanding shares of Common Stock.
This percentage was determined by dividing 700,682 by
5,479,514, the number of shares of Common Stock
outstanding as of July 14, 2003, as reported in the
Issuer's 10-Q Report filed July 15, 2003.
(c) Greenlight has the sole power to vote and dispose of
the 700,682 shares of Common Stock beneficially owned
by it. As the principal of Greenlight, Mr. Einhorn
may direct the vote and disposition of the 700,682
shares of Common Stock beneficially owned by
Greenlight.
ITEM 5 OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS.
Inapplicable.
ITEM 6 OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER
PERSON.
Inapplicable.
ITEM 7 IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH
ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING
COMPANY.
Inapplicable.
ITEM 8 IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP.
Inapplicable.
ITEM 9 NOTICE OF DISSOLUTION OF GROUP.
Inapplicable.
ITEM 10 CERTIFICATION.
By signing below I certify that, to the best of my knowledge
and belief, the securities referred to above were not acquired
and are not held for the purpose of or with the effect of
changing or influencing the control of the issuer of the
securities and were
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not acquired and are not held in connection with or as a
participant in any transaction having that purpose or effect.
EXHIBITS EXHIBIT 99
Joint Filing Agreement dated July 17, 2003, between Greenlight
and David Einhorn.
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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: July 17, 2003
Greenlight Capital, L.L.C.
By: /S/ DAVID EINHORN
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David Einhorn, Managing Member
/S/ DAVID EINHORN
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David Einhorn
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