UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
SCHEDULE 13D
(Rule 13d-101)
(Amendment No. 1)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED
PURSUANT TO RULE 13d-1(a) AND AMENDMENTS THERETO
FILED PURSUANT TO RULE 13d-2(a)
Acme Communications, Inc.
---------------------------------------
(Name of Issuer)
Common Stock, Par Value $0.01 Per Share
---------------------------------------
(Title of Class of Securities)
004631107
-----------------------------------
(CUSIP Number of Class of Securities)
Wynnefield Partners Small Cap Value, L.P.
450 Seventh Avenue, Suite 509
New York, New York 10123
Attention: Mr. Nelson Obus
---------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
Copy to:
Shahe Sinanian, Esq.
Greenberg Traurig, LLP
200 Park Avenue
New York, New York 10166
(212) 801-9200
December 21, 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 if filing this
Schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box
[ ]
(continued on following pages)
Page 1 of 15
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CUSIP No. 004631107 13D/A Page 2 of 15 Pages
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1. NAME OF REPORTING PERSON: Wynnefield Partners Small Cap Value, L.P.
S.S. OR I.R.S. IDENTIFICATION No. OF ABOVE PERSON: 13-3688497
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OR A GROUP
(a) [ ]
(b) [x]
--------------------------------------------------------------------------------
3. SEC USE ONLY
--------------------------------------------------------------------------------
4. SOURCE OF FUNDS
WC (SEE ITEM 3)
--------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e) [ ]
--------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
--------------------------------------------------------------------------------
7. SOLE VOTING POWER
NUMBER OF 340,500 shares (See Item 5)
SHARES -------------------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER
OWNED BY -0- shares (See Item 5)
EACH -------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON 340,500 shares (See Item 5)
WITH -------------------------------------------------
10. SHARED DISPOSITIVE POWER
-0- (See Item 5)
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
340,500 shares (See Item 5)
--------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.1% (See Item 5)
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14. TYPE OF REPORTING PERSON
PN
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CUSIP No. 004631107 13D/A Page 3 of 15 Pages
--------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON: Wynnefield Partners Small Cap Value Offshore
Fund, Ltd.
S.S. OR I.R.S. IDENTIFICATION No. OF ABOVE PERSON: Not Applicable
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OR A GROUP
(a) [ ]
(b) [x]
--------------------------------------------------------------------------------
3. SEC USE ONLY
--------------------------------------------------------------------------------
4. SOURCE OF FUNDS
WC (SEE ITEM 3)
--------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e) [ ]
--------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
CAYMAN ISLANDS
--------------------------------------------------------------------------------
7. SOLE VOTING POWER
NUMBER OF 239,300 shares (See Item 5)
SHARES -------------------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER
OWNED BY -0- shares (See Item 5)
EACH -------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON 239,300 shares (See Item 5)
WITH -------------------------------------------------
10. SHARED DISPOSITIVE POWER
-0- (See Item 5)
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
239,300 shares (See Item 5)
--------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.5% (See Item 5)
--------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
CO
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CUSIP No. 004631107 13D/A Page 4 of 15 Pages
--------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON: Wynnefield Partners Small Cap Value, L.P. I
S.S. OR I.R.S. IDENTIFICATION No. OF ABOVE PERSON: 13-3953291
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OR A GROUP
(a) [ ]
(b) [x]
--------------------------------------------------------------------------------
3. SEC USE ONLY
--------------------------------------------------------------------------------
4. SOURCE OF FUNDS
WC (SEE ITEM 3)
--------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e) [ ]
--------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
--------------------------------------------------------------------------------
7. SOLE VOTING POWER
NUMBER OF 449,800 shares (See Item 5)
SHARES -------------------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER
OWNED BY -0- shares (See Item 5)
EACH -------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON 449,800 shares (See Item 5)
WITH -------------------------------------------------
10. SHARED DISPOSITIVE POWER
-0- (See Item 5)
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
449,800 shares (See Item 5)
--------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.8% (See Item 5)
--------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
PN
--------------------------------------------------------------------------------
CUSIP No. 004631107 13D/A Page 5 of 15 Pages
--------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON: Channel Partnership II, L.P.
S.S. OR I.R.S. IDENTIFICATION No. OF ABOVE PERSON: 22-3215653
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OR A GROUP
(a) [ ]
(b) [x]
--------------------------------------------------------------------------------
3. SEC USE ONLY
--------------------------------------------------------------------------------
4. SOURCE OF FUNDS
WC (SEE ITEM 3)
--------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e) [ ]
--------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
NEW YORK
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7. SOLE VOTING POWER
NUMBER OF 5,000 shares (See Item 5)
SHARES -------------------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER
OWNED BY -0- shares (See Item 5)
EACH -------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON 5,000 shares (See Item 5)
WITH -------------------------------------------------
10. SHARED DISPOSITIVE POWER
-0- (See Item 5)
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,000 shares (See Item 5)
--------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.0% (See Item 5)
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14. TYPE OF REPORTING PERSON
PN
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CUSIP No. 004631107 13D/A Page 6 of 15 Pages
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1. NAME OF REPORTING PERSON: Wynnefield Capital, Inc. Profit Sharing Plan
S.S. OR I.R.S. IDENTIFICATION No. OF ABOVE PERSON: 13-3873998
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OR A GROUP
(a) [ ]
(b) [x]
--------------------------------------------------------------------------------
3. SEC USE ONLY
--------------------------------------------------------------------------------
4. SOURCE OF FUNDS
WC (SEE ITEM 3)
--------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e) [ ]
--------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
N/A
--------------------------------------------------------------------------------
7. SOLE VOTING POWER
NUMBER OF 40,000 shares (See Item 5)
SHARES -------------------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER
OWNED BY -0- shares (See Item 5)
EACH -------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON 40,000 shares (See Item 5)
WITH -------------------------------------------------
10. SHARED DISPOSITIVE POWER
-0- (See Item 5)
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
40,000 shares (See Item 5)
--------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.2% (See Item 5)
--------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
EP
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CUSIP No. 004631107 13D/A Page 7 of 15 Pages
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1. NAME OF REPORTING PERSON: Wynnefield Capital Management LLC
S.S. OR I.R.S. IDENTIFICATION No. OF ABOVE PERSON: 13-4018186
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OR A GROUP
(a) [ ]
(b) [x]
--------------------------------------------------------------------------------
3. SEC USE ONLY
--------------------------------------------------------------------------------
4. SOURCE OF FUNDS
AF (SEE ITEM 3)
--------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e) [ ]
--------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
NEW YORK
--------------------------------------------------------------------------------
7. SOLE VOTING POWER
NUMBER OF 790,300 shares (See Item 5)
SHARES -------------------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER
OWNED BY -0- shares (See Item 5)
EACH -------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON 790,300 shares (See Item 5)
WITH -------------------------------------------------
10. SHARED DISPOSITIVE POWER
-0- (See Item 5)
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
790,300 shares (See Item 5)
--------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.9% (See Item 5)
--------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
OO (Limited Liability Company)
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CUSIP No. 004631107 13D/A Page 8 of 15 Pages
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1. NAME OF REPORTING PERSON: Wynnefield Capital, Inc.
S.S. OR I.R.S. IDENTIFICATION No. OF ABOVE PERSON: NA
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OR A GROUP
(a) [ ]
(b) [x]
--------------------------------------------------------------------------------
3. SEC USE ONLY
--------------------------------------------------------------------------------
4. SOURCE OF FUNDS
AF (SEE ITEM 3)
--------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e) [ ]
--------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
CAYMAN ISLANDS
--------------------------------------------------------------------------------
7. SOLE VOTING POWER
NUMBER OF 239,300 shares (See Item 5)
SHARES -------------------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER
OWNED BY -0- shares (See Item 5)
EACH -------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON 239,300 shares (See Item 5)
WITH -------------------------------------------------
10. SHARED DISPOSITIVE POWER
-0- (See Item 5)
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
239,300 shares (See Item 5)
--------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.5% (See Item 5)
--------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
CO
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CUSIP No. 004631107 13D/A Page 9 of 15 Pages
--------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON: Nelson Obus
S.S. OR I.R.S. IDENTIFICATION No. OF ABOVE PERSON:
--------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OR A GROUP
(a) [ ]
(b) [x]
--------------------------------------------------------------------------------
3. SEC USE ONLY
--------------------------------------------------------------------------------
4. SOURCE OF FUNDS
AF (SEE ITEM 3)
--------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e) [ ]
--------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED STATES OF AMERICA
--------------------------------------------------------------------------------
7. SOLE VOTING POWER
NUMBER OF 5,000 shares (See Item 5)
SHARES -------------------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER
OWNED BY -0- shares (See Item 5)
EACH -------------------------------------------------
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON 5,000 shares (See Item 5)
WITH -------------------------------------------------
10. SHARED DISPOSITIVE POWER
-0- (See Item 5)
--------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,000 shares (See Item 5)
--------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
--------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.0% (See Item 5)
--------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON
IN
This Amendment No. 1 (the "Amendment") amends the Statement of Beneficial
Ownership on Schedule 13D, originally filed with the Securities and Exchange
Commission (the "Commission") on November 17, 2004 (the "Schedule 13D"), by
Wynnefield Partners Small Cap Value, L.P. ("Partnership"), Wynnefield Partners
Small Cap Value, L.P. I ("Partnership I"), Wynnefield Small Cap Offshore Fund,
Ltd. ("Fund"), Channel Partnership II, L.P. ("Channel"), Nelson Obus ("Mr.
Obus"), Wynnefield Capital Management, LLC ("WCM") and Wynnefield Capital, Inc.
("WCI" and, collectively with Partnership, Partnership I, Fund, Channel, Obus
and WCM the "Original Reporting Persons"), with respect to the shares of common
stock, par value $0.01 per share, of Acme Communications, Inc., a Delaware
corporation with its principal executive offices located at 2101 E. Fourth
Street, Suite 202A, Santa Ana, California 92705 (the "Issuer"). In addition to
the Original Reporting Persons, this Amendment is filed by and on behalf of
Wynnefield Capital, Inc. Profit Sharing Plan ("Profit Sharing Plan" and,
collectively with the Original Reporting Persons, the "Wynnefield Group").
Unless specifically amended hereby, the disclosures set forth in the Schedule
13D shall remain unchanged.
ITEM 2. IDENTITY AND BACKGROUND.
The response to Item 2 is hereby amended and supplemented by adding the
following:
This Amendment is filed jointly by the Wynnefield Group pursuant to Rule
13d-1(k) under the Securities Exchange Act of 1934, as amended (the "Exchange
Act"). The Wynnefield Group have entered into a Joint Filing Agreement, a copy
of which is filed with this Amendment as Exhibit 1 (which is incorporated in
this response to Item 2 by reference). Information with respect to each member
of the Wynnefield Group is given solely by such member, and no member of the
Wynnefield Group assumes responsibility for the accuracy or completeness of the
information furnished by another member.
The Profit Sharing Plan is an employee profit sharing plan of WCI and it
shares a business address with the other entities in the Wynnefield Group. Mr.
Obus and Mr. Landes share the power to vote and dispose of the Profit Sharing
Plan's investments in securities.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
The response to Item 3 is hereby amended and supplemented by adding the
following:
As of the date of this Amendment, the Wynnefield Group beneficially owned
in the aggregate 1,074,600 shares of Common Stock, constituting approximately
6.7% of the outstanding shares of Common Stock (the percentage of shares owned
being based upon 16,772,415 shares outstanding (including 725,652 which are held
in treasury)) on November 8, 2004, as set forth in the Issuer's most recent
report on Form 10-Q for the quarterly period ended September 30, 2004 filed with
the Commission on November 9, 2004).
Since November 17, 2004, the date of the filing of the Schedule 13D with
the Commission, each of the Wynnefield Group entities set forth below purchased
shares of Common Stock, separately from each other, for the consideration shown
in the following table:
Name Number of Shares Purchased Consideration Paid
---- -------------------------- ------------------
Partnership* 41,900 $252,014
Partnership-I* 50,100 $301,667
Fund** 30,800 $185,382
Page 10 of 15
Profit Sharing Plan 40,000 $240,000
* WCM has an indirect beneficial ownership interest in these shares of Common
Stock.
** WCI has an indirect beneficial ownership interest in these shares of Common
Stock.
Such shares of Common Stock were paid for from the working capital of each
entity in the Wynnefield Group who directly beneficially owns Common Stock. Each
entity in the Wynnefield Group maintains a separate investment fund, consisting
of capital contributions from their respective partners and investors and
capital appreciation derived therefrom for the principal purpose of buying and
selling securities (including financial and money market instruments) and
interests in domestic and foreign securities, including, without limitation,
convertible securities, stock index futures contracts, options, puts and calls
on stock and warrants, except the Profit Sharing Plan, which is an employee
profit sharing plan of WCI.
Item 4. Purposes of Transaction.
The response to Item 4 is hereby amended and restated in its entirety as
follows:
The members of the Wynnefield Group acquired the shares of Common Stock
reported in Item 5 below for investment purposes, with no intention of changing
or influencing control of the Issuer or as a participant in any transaction
having that purpose or effect. They intend to monitor the Issuer's financial
condition, business, operations and prospects, the market price for the shares
of Common Stock, conditions in the securities markets generally, general
economic conditions, conditions affecting the Issuer's operations and evaluate
the responses of its management to the needs of the holders of the Common Stock.
The Wynnefield Group has met with and recommended to the Issuer's management
that the Issuer's management move forward with no delay to implement their
recently announced share buyback program.
The Wynnefield Group reserves the right to change its plans and intentions
at any time as it deems appropriate. In particular, the Wynnefield Group may
purchase shares of Common Stock, or may sell or otherwise dispose of all or a
portion of the shares of Common Stock, in public and private transactions and/or
may enter into negotiated derivative transactions to hedge the market risk of
some or all positions in, or to obtain greater exposure to, the shares of the
Common Stock. Any such transactions may be effected at any time or from time to
time, subject to any applicable limitations imposed on the sale of shares of the
Common Stock by the Securities Act of 1933, as amended, the Exchange Act and
applicable state securities or "blue sky" laws.
Depending on factors deemed relevant by the Wynnefield Group, including
but not limited to changes in the Issuer's business, governance or financial
situation, the Wynnefield Group reserves the right to formulate other plans
and/or make proposals, and take such actions with respect to its investment in
the Issuer, including any or all of the actions set forth in this response to
Item 4 and any other actions as the Wynnefield Group, or any of them, may
determine.
Except as set forth above, no member of the Wynnefield Group has any
present plans or intentions that would result in or relate to any of the
transactions described in subparagraphs (a) through (j) of Item 4 of this
Amendment.
Page 11 of 15
ITEM 5. INTERESTS IN SECURITIES OF THE ISSUER.
The response to Item 5 is hereby amended and restated in its entirety as
follows:
(a) - (c) As of December 29, 2004, the Wynnefield Group beneficially owned
in the aggregate, 1,074,600 shares of Common Stock, constituting approximately
6.7 % of the outstanding shares of Common Stock (the percentage of shares owned
being based upon 16,772,415 shares outstanding (including 725,652 which are held
in treasury)) on November 8, 2004, as set forth in the Issuer's most recent
report on Form 10-Q for the quarterly period ended September 30, 2004 filed with
the Commission on November 9, 2004). The following table sets forth certain
information with respect to shares of Common Stock beneficially owned directly
by the Wynnefield Group members listed:
APPROXIMATE
NUMBER OF PERCENTAGE OF
NAME SHARES OUTSTANDING SHARES
---- --------- ------------------
Partnership * 340,500 2.1 %
Partnership-I * 449,800 1.5 %
Fund ** 239,300 2.8 %
Channel*** 5,000 0 %
Profit Sharing Plan 40,000 0.3 %
* WCM has an indirect beneficial ownership interest in these shares of
Common Stock.
** WCI has an indirect beneficial ownership interest in these shares of
Common Stock.
*** Mr. Obus has an indirect beneficial ownership interest in these shares
of Common Stock.
WCM is the sole general partner of the Partnership and Partnership-I and,
accordingly, may be deemed to be the indirect beneficial owner (as that term is
defined under Rule 13d-3 promulgated pursuant to the Exchange Act of the shares
of Common Stock that the Partnership and Partnership-I beneficially own. WCM, as
the sole general partner of the Partnership and Partnership-I, has the sole
power to direct the voting and disposition of the shares of Common Stock that
the Partnership and Partnership-I beneficially own.
Messrs. Obus and Landes are the co-managing members of WCM and,
accordingly, each of Messrs. Obus and Landes may be deemed to be the indirect
beneficial owner (as that term is defined under Rule 13d-3 promulgated pursuant
to the Exchange Act) of the shares of Common Stock that WCM may be deemed to
beneficially own. Each of Messrs. Obus and Landes, as a co-managing member of
WCM, shares with the other the power to direct the voting and disposition of the
shares of Common Stock that WCM may be deemed to beneficially own.
WCI is the sole investment manager of the Fund and, accordingly, may be
deemed to be the indirect beneficial owner (as that term is defined under Rule
13d-3 promulgated pursuant to the Exchange Act) of the shares of Common Stock
that the Fund beneficially owns. WCI , as the sole investment manager of the
Fund, has the sole power to direct the voting and disposition of the shares of
Common Stock that the Fund beneficially owns.
Messrs. Obus and Landes are the principal executive officers of WCI and,
accordingly, each of Messrs. Obus and Landes may be deemed to be the indirect
beneficial owner (as that term is defined under Rule 13d-3 promulgated pursuant
to the Exchange Act) of the shares of Common Stock that WCI may be deemed to
beneficially own. Each of Messrs. Obus and Landes, as a principal executive
officer of
Page 12 of 15
WCI, shares with the other the power to direct the voting and
disposition of the shares of Common Stock that WCI may be deemed to beneficially
own.
The Profit Sharing Plan is an employee profit sharing plan of WCI. Mr. Obus
and Mr. Landes share the power to vote and dispose of the Profit Sharing Plan's
investments in securities.
Mr. Obus is the general partner of Channel and, accordingly, may be deemed
to be the indirect beneficial owner (as that term is defined under Rule 13d-3
promulgated pursuant to the Exchange Act) of the shares of Common Stock that
Channel beneficially owns. Mr. Obus, as the general partner of Channel, has the
sole power to direct the voting and disposition of the shares of Common Stock
that Channel beneficially owns.
Beneficial ownership of shares of Common Stock shown on the cover pages of
and set forth elsewhere in this Amendment for each of the members of the
Wynnefield Group assumes that they have not formed a group for purposes of
Section 13(d)(3) under the Exchange Act, and Rule 13d-5(b)(1) promulgated
thereunder. If the members of the Wynnefield Group were deemed to have formed a
group for purposes of Section 13(d)(3) and Rule 13d-5(b)(1), the group would be
deemed to own beneficially (and may be deemed to have shared voting and
dispositive power over) 1,074,600 shares of Common Stock, constituting
approximately 6.7 % of the outstanding shares (including 725,652 which are held
in treasury) of Common Stock (the percentage of shares owned being based upon
16,772,415 shares outstanding on November 8, 2004 as set forth in the Issuer's
most recent report on Form 10-Q for the quarterly period ended September 30,
2004 filed with the Commission on November 9, 2004).
The filing of this Amendment and the inclusion of information herein with
respect to Messrs. Obus and Landes, shall not be considered an admission that
any of such persons, for the purpose of Section 13(d) of the Exchange Act, are
the beneficial owners of any shares in which such persons do not have a
pecuniary interest.
To the best knowledge of the Wynnefield Group, except as described herein,
none of the Wynnefield Group, any person in control (ultimately or otherwise) of
the Wynnefield Group, any general partner, executive officer or director
thereof, as applicable, beneficially owns any shares of Common Stock, and except
as set forth in the table below, there have been no transactions in shares of
Common Stock effected during the past 60 days by the Wynnefield Group, any
person in control of the Wynnefield Group (ultimately or otherwise), or any
general partner, executive officer or director thereof, as applicable; provided,
however, certain investment banking affiliates of the Wynnefield Group may
beneficially own shares of Common Stock, including shares that may be held in
discretionary or advisory accounts with the Wynnefield Group; and the Wynnefield
Group, directly or in connection with such discretionary or advisory accounts,
may acquire, hold, vote or dispose of Common Stock, including transactions that
may have occurred in the past 60 days.
The Wynnefield Group has made purchases of shares of Common Stock during
the past 60 days as follows:
Name Date Number of Shares Price Per Share
---- ---- ---------------- ---------------
Partnership December 1, 2004 35,700 $5.99
Partnership December 2, 2004 1,200 $5.83
Partnership December 21, 2004 4,300 $5.91
Partnership December 22, 2004 700 $5.90
Page 13 of 15
Partnership - I December 1, 2004 45,400 $5.99
Partnership - I December 21, 2004 4,700 $5.91
Fund December 1, 2004 27,000 $5.99
Fund December 21, 2004 3,800 $5.91
Profit Sharing Plan December 1, 2004 40,000 $6.00
(d) No person, other than each of the members of the Wynnefield Group
referred to as the direct beneficial owner of the shares of Common Stock set
forth in this response to Item 5, has the right to receive or the power to
direct the receipt of dividends from, or the proceeds from the sale of, such
shares of Common Stock.
(e) Not applicable.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO
SECURITIES OF THE ISSUER.
The response to Item 6 is hereby amended and restated in its entirety as
follows:
Each of the members of the Wynnefield Group is a party to a Joint Filing
Agreement, dated as of December 29, 2004 (the "13D Joint Filing Agreement"),
pursuant to which the parties agreed to jointly file the Amendment and any and
all amendments and supplements thereto with the Commission. The 13D Joint Filing
Agreement is filed herewith as Exhibit 1 and is incorporated in this response to
Item 6 in its entirety.
Except for the agreement described above, to the best knowledge of the
Wynnefield Group, there are no contracts, arrangements, understandings or
relationships (legal or otherwise) between the Wynnefield Group, and any other
person, with respect to any securities of the Issuer, including, but not
limited to, transfer or voting of any of the securities, finder's fees, joint
ventures, loan or option agreements, puts or calls, guarantees of profits,
divisions of profits or loss, or the giving or withholding or proxies.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
The response to Item 7 is hereby amended and supplemented to add the
following exhibit:
Exhibit 1 Joint Filing Agreement, dated as of December 29, 2004, among the
Partnership, Partnership-I, Fund, WCM, WCI, Channel, Profit Sharing
Plan and Mr. Obus.
Page 14 of 15
SIGNATURE
After reasonable inquiry and to the best of their knowledge and belief, the
undersigned certify that the information set forth in this Amendment is true,
complete and correct.
Dated: December 29, 2004 WYNNEFIELD PARTNERS SMALL CAP VALUE, L.P.
By: Wynnefield Capital Management, LLC,
General Partner
By: /s/ Nelson Obus
--------------------------------------------
Nelson Obus, Co-Managing Member
WYNNEFIELD PARTNERS SMALL CAP VALUE, L.P. I
By: Wynnefield Capital Management, LLC,
--------------------------------------------
General Partner
By: /s/ Nelson Obus
--------------------------------------------
Nelson Obus, Co-Managing Member
WYNNEFIELD SMALL CAP VALUE OFFSHORE FUND, LTD.
By: Wynnefield Capital, Inc.
By: /s/ Nelson Obus
--------------------------------------------
Nelson Obus, President
WYNNEFIELD CAPITAL MANAGEMENT, LLC
By: /s/ Nelson Obus
--------------------------------------------
Nelson Obus, Co-Managing Member
WYNNEFIELD CAPITAL, INC.
By: /s/ Nelson Obus
--------------------------------------------
Nelson Obus, President
WYNNEFIELD CAPITAL, INC. PROFIT SHARING PLAN
By: /s/ Nelson Obus
--------------------------------------------
Nelson Obus, Authorized Signatory
CHANNEL PARTNERSHIP II, L.P.
By: /s/ Nelson Obus
--------------------------------------------
Nelson Obus, General Partner
/s/ Nelson Obus
--------------------------------------------
Nelson Obus, Individually
Page 15 of 15
Exhibit 1
AGREEMENT OF JOINT FILING
Pursuant to Rule 13d-1(k)(1) under the Securities Exchange Act of 1934, as
amended, the undersigned hereby consent to the joint filing on their behalf of a
single Amendment to Schedule 13D and any amendments thereto, with respect to the
beneficial ownership by each of the undersigned of shares of common stock, par
value $0.01 per share, of Acme Communications, Inc., a Delaware corporation.
Dated: as of December 29, 2004 WYNNEFIELD PARTNERS SMALL CAP VALUE, L.P.
By: Wynnefield Capital Management, LLC,
General Partner
By: /s/ Nelson Obus
------------------------------------------
Nelson Obus, Co-Managing Member
WYNNEFIELD PARTNERS SMALL CAP VALUE, L.P. I
By: Wynnefield Capital Management, LLC,
General Partner
By: /s/ Nelson Obus
------------------------------------------
Nelson Obus, Co-Managing Member
WYNNEFIELD SMALL CAP VALUE OFFSHORE FUND, LTD.
By: Wynnefield Capital, Inc.
By: /s/ Nelson Obus
------------------------------------------
Nelson Obus, President
WYNNEFIELD CAPITAL MANAGEMENT, LLC
By: /s/ Nelson Obus
------------------------------------------
Nelson Obus, Co-Managing Member
WYNNEFIELD CAPITAL, INC.
By: /s/ Nelson Obus
------------------------------------------
Nelson Obus, President
WYNNEFIELD CAPITAL, INC. PROFIT SHARING PLAN
By: /s/ Nelson Obus
------------------------------------------
Nelson Obus, Authorized Signatory
CHANNEL PARTNERSHIP II, L.P.
By: /s/ Nelson Obus
------------------------------------------
Nelson Obus, General Partner
/s/ Nelson Obus
------------------------------------------
Nelson Obus, Individually