UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
(Amendment No. 2)
Under the Securities Exchange Act of 1934
JPS INDUSTRIES, INC.
--------------------
(Name of Issuer)
COMMON STOCK, PAR VALUE $.01 PER SHARE
--------------------------------------
(Title of Class of Securities)
46624E405
---------
(CUSIP Number)
JANUARY 24, 2005
----------------
(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)
*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 reminder 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. 46624E405 2
================================================================================
--------------------------------------------------------------------------------
1. Name of Reporting Person
S.S. or I.R.S. Identifica-
tion No. of Above Person
JWA Investments L.P.
--------------------------------------------------------------------------------
2. Check the Appropriate Box
if a Member of a Group (a) [_]
(b) [X]
--------------------------------------------------------------------------------
3. S.E.C. Use Only
--------------------------------------------------------------------------------
4. Citizenship or Place of Organization
Delaware
--------------------------------------------------------------------------------
Number of Shares (5) Sole Voting Power -0-
Beneficially (6) Shared Voting Power -0-
Owned by Each (7) Sole Dispositive Power -0-
Reporting Person (8) Shared Dispositive Power -0-
--------------------------------------------------------------------------------
9. Aggregate Amount Beneficially Owned by Each Reporting Person
-0-
--------------------------------------------------------------------------------
10. Check if the Aggregate Amount in Row (9) Excludes Certain
Shares
[_]
--------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row 9
0%
--------------------------------------------------------------------------------
12. Type of Reporting Person
PN
--------------------------------------------------------------------------------
CUSIP NO. 46624E405 3
================================================================================
--------------------------------------------------------------------------------
1. Name of Reporting Person
S.S. or I.R.S. Identifica-
tion No. of Above Person
JWA Investments Corp.
--------------------------------------------------------------------------------
2. Check the Appropriate Box
if a Member of a Group (a) [_]
(b) [X]
--------------------------------------------------------------------------------
3. S.E.C. Use Only
--------------------------------------------------------------------------------
4. Citizenship or Place of Organization
Delaware
--------------------------------------------------------------------------------
Number of Shares (5) Sole Voting Power -0-
Beneficially (6) Shared Voting Power -0-
Owned by Each (7) Sole Dispositive Power -0-
Reporting Person (8) Shared Dispositive Power -0-
--------------------------------------------------------------------------------
9. Aggregate Amount Beneficially Owned by Each Reporting Person
-0-
--------------------------------------------------------------------------------
10. Check if the Aggregate Amount in Row (9) Excludes Certain
Shares
[_]
--------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row 9
0%
--------------------------------------------------------------------------------
12. Type of Reporting Person
CO
--------------------------------------------------------------------------------
CUSIP NO. 46624E405 4
================================================================================
--------------------------------------------------------------------------------
1. Name of Reporting Person
S.S. or I.R.S. Identifica-
tion No. of Above Person
John W. Adams
--------------------------------------------------------------------------------
2. Check the Appropriate Box
if a Member of a Group (a) [_]
(b) [X]
--------------------------------------------------------------------------------
3. S.E.C. Use Only
--------------------------------------------------------------------------------
4. Citizenship or Place of Organization
Delaware
--------------------------------------------------------------------------------
Number of Shares (5) Sole Voting Power -0-
Beneficially (6) Shared Voting Power -0-
Owned by Each (7) Sole Dispositive Power -0-
Reporting Person (8) Shared Dispositive Power -0-
--------------------------------------------------------------------------------
9. Aggregate Amount Beneficially Owned by Each Reporting Person
-0-
--------------------------------------------------------------------------------
10. Check if the Aggregate Amount in Row (9) Excludes Certain
Shares
[_]
--------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row 9
0%
--------------------------------------------------------------------------------
12. Type of Reporting Person
IN
--------------------------------------------------------------------------------
CUSIP NO. 46624E405 5
================================================================================
SCHEDULE 13G
This Schedule 13G is filed by the undersigned with respect to
the shares of common stock, par value $.01 per share (the "Common Stock"), of
JPS Industries, Inc. (the "Company").
Item 1. (a) NAME OF ISSUER
JPS Industries, Inc.
(b) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES
555 North Pleasantburg Drive, Suite 202
Greenville, South Carolina 29607
Item 2. (a) NAMES OF PERSONS FILING
JWA Investments L.P. ("JWA");
JWA Investments Corp., the general partner of JWA ("JWA
General Partner"); and
John W. Adams, the sole shareholder of JWA General Partner
("Adams" and, together with JWA and JWA General Partner,
the "Reporting Persons").
(b) ADDRESS OF PRINCIPAL BUSINESS OFFICE
885 Third Avenue
34th Floor
New York, NY 10022
(c) CITIZENSHIP
JWA -- Delaware
JWA General Partner -- Delaware
Adams -- United States
(d) TITLE OF CLASS OF SECURITIES
Common Stock, par value $.01 per share (the "Shares")
(e) CUSIP NUMBER
46624E405
CUSIP NO. 46624E405 6
================================================================================
Item 3. If this statement is filed pursuant to Rules 13d-1(b), or
13d-2(b) or (c), check whether filing person is a:
(a) [_] Broker or dealer registered under Section
15 of the Act
(b) [_] Bank as defined in Section 3(a)(6) of the
Act
(c) [_] Insurance company as defined in Section
3(a)(19) of the Act
(d) [_] Investment company registered under
Section 8 of the Investment Company Act
(e) [_] An investment adviser in accordance with
Rule 13d-1(b)(1)(ii)(E)
(f) [_] An employee benefit plan or endowment fund
in accordance with Rule 13d-1(b)(1)(ii)(F)
(g) [_] A parent holding company or control person
in accordance with Rule 13d-1(b)(ii)(G)
(h) [_] A savings association as defined in
Section 3(b) of the Federal Deposit Insurance Act
(12 U.S.C. 1813)
(i) [_] A church plan that is excluded from the
definition of an investment company under Section
3(c)(14) of the Investment Company Act of 1940 (15
U.S.C. 80a-3)
(j) [_] Group, in accordance with Rule
13d-1(b)(1)(ii)(J)
Item 4. JWA has disposed of the 899,629 shares of common stock
previously owned by it, which represented approximately 9.5%
of the issued and outstanding shares of Common Stock.
Following this disposition, none of the Reporting Persons
beneficially owns any shares of Common Stock.
Item 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS
If this statement is being filed to report the fact that as
of the date hereof the reporting person has ceased to be the
beneficial owner of more than five percent of the class of
securities, check the following [X]
CUSIP NO. 46624E405 7
================================================================================
Item 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER
PERSON
Not applicable.
Item 7. IDENTIFICATION AND CLASSIFICATION OF SUBSIDIARY WHICH
ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT
HOLDING COMPANY
Not applicable.
Item 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP
See Item 4.
Item 9. NOTICE OF DISSOLUTION OF GROUP
Not applicable.
Item 10. CERTIFICATION
By signing below, each of the undersigned certifies that, to
the best of their 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 not
acquired and are not held in connection with or as a
participant in any transaction having that purpose or
effect.
[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]
CUSIP NO. 46624E405 8
================================================================================
SIGNATURES
After reasonable inquiry and to the best of our knowledge and
belief, we certify that the information set forth in this statement is true,
complete and correct.
Dated as of January 27, 2005
JWA INVESTMENTS L.P.
By: JWA Investments Corp.
its general partner
By: /s/ John W. Adams
----------------------
Name: John W. Adams
Title: President
JWA INVESTMENTS CORP.
By: /s/ John W. Adams
---------------------------
Name: John W. Adams
Title: President
/s/ John W. Adams
-------------------------------
John W. Adams