SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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. 7
OfficeMax Incorporated
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(Name of Issuer)
Common Stock, par value $2.50 per share
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(Title of Class of Securities)
67622P101
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(CUSIP Number)
Robert T. Needham
K Capital Partners, LLC
75 Park Place
Boston, MA 02116
(617) 646-7728
(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
January 10, 2006
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(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), Rule 13d-1(f) or Rule 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(b) for other
parties to whom copies are to be sent.
*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 ("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).
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CUSIP No. 67622P101 SCHEDULE 13D Page 2
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1 NAME OF REPORTING PERSON
K Capital Offshore Master Fund (U.S. Dollar), L.P.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
N/A
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)(a)[ ]
(b)[ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS (See Instructions)
WC
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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
Cayman Islands
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7 SOLE VOTING POWER
1,402,465 shares of Common Stock
NUMBER OF ----------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 0 shares of Common Stock
OWNED BY
EACH ----------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 1,402,465 shares of Common Stock
WITH
----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0 shares of Common Stock
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON
1,402,465 shares of Common Stock
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12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See
Instructions) [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.981%
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14 TYPE OF REPORTING PERSON (See Instructions)
PN
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CUSIP No. 67622P101 SCHEDULE 13D Page 3
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1 NAME OF REPORTING PERSON
Special K Capital Offshore Master Fund (U.S. Dollar), L.P.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
N/A
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)(a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS (See Instructions)
WC
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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
Cayman Islands
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7 SOLE VOTING POWER
3,134,790 shares of Common Stock
NUMBER OF ----------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 0 shares of Common Stock
OWNED BY
EACH ----------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 3,134,790 shares of Common Stock
WITH
----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0 shares of Common Stock
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON
3,134,790 shares of Common Stock
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12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See
Instructions) [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.428%
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14 TYPE OF REPORTING PERSON (See Instructions)
PN
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CUSIP No. 67622P101 SCHEDULE 13D Page 4
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1 NAME OF REPORTING PERSON
K Capital Partners, LLC
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
N/A
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)(a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS (See Instructions)
AF
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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
Delaware
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7 SOLE VOTING POWER
4,537,255 shares of Common Stock
NUMBER OF ----------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 0 shares of Common Stock
OWNED BY
EACH ----------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 4,537,255 shares of Common Stock
WITH
----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0 shares of Common Stock
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON
4,537,255 shares of Common Stock
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12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See
Instructions) [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.409%
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14 TYPE OF REPORTING PERSON (See Instructions)
OO
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CUSIP No. 67622P101 SCHEDULE 13D Page 5
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1 NAME OF REPORTING PERSON
Harwich Capital Partners, LLC
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
N/A
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)(a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS (See Instructions)
AF
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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
Delaware
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7 SOLE VOTING POWER
4,537,255 shares of Common Stock
NUMBER OF ----------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 0 shares of Common Stock
OWNED BY
EACH ----------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 4,537,255 shares of Common Stock
WITH
----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0 shares of Common Stock
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON
4,537,255 shares of Common Stock
- --------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See
Instructions) [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.409%
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14 TYPE OF REPORTING PERSON (See Instructions)
OO
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1 NAME OF REPORTING PERSON
Abner Kurtin
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
N/A
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)(a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS (See Instructions)
AF
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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
United States
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7 SOLE VOTING POWER
4,537,255 shares of Common Stock
NUMBER OF ----------------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 0 shares of Common Stock
OWNED BY
EACH ----------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 4,537,255 shares of Common Stock
WITH
----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0 shares of Common Stock
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON
4,537,255 shares of Common Stock
- --------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See
Instructions) [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.409%
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14 TYPE OF REPORTING PERSON (See Instructions)
IN
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INTRODUCTION
This Amendment No. 7 (this "Amendment") relates to the Schedule 13D filed
on behalf of K Capital Offshore Master Fund (U.S. Dollar), L.P., Special K
Capital Offshore Master Fund (U.S. Dollar), L.P. (collectively, the
"Partnerships"), K Capital Partners, LLC (the "General Partner"), Harwich
Capital Partners, LLC ("Harwich") and Abner Kurtin (collectively, the "Reporting
Persons") with the Securities and Exchange Commission on February 25, 2005, as
amended by Amendment No. 1 filed on March 11, 2005, Amendment No. 2 filed on
April 11, 2005, Amendment No. 3 filed on April 25, 2005, Amendment No. 4 filed
on October 27, 2005, Amendment No. 5 filed on November 14, 2005 and Amendment
No. 6 filed on December 27, 2005 (the "Schedule 13D"), relating to shares of
common stock, par value $2.50 per share ("Common Stock"), of OfficeMax
Incorporated (the "Company").
Items 4, 5 and 7 of the Schedule 13D are amended and supplemented as
follows:
Item 4. Purpose of Transaction.
On January 10, 2006, the Reporting Persons sent a letter to the Board of
Directors of the Company (the "Board") urging the Board to pursue a sale of the
Company. A copy of the letter is attached hereto as Exhibit 1.
Item 5. Interest in Securities of the Issuer
(a) As of the date hereof, the Reporting Persons have the following
interests in the Common Stock of the Company, based on the Company's disclosure
in its Form 10-Q filed on November 3, 2005, that as of October 31, 2005, the
Company had 70,798,868 shares of Common Stock outstanding:
(i) K Capital Offshore Master Fund (U.S. Dollar), L.P.
beneficially owns 1,402,465 shares, or 1.981%, of the
Company's Common Stock.
(ii) Special K Capital Offshore Master Fund (U.S. Dollar), L.P.
beneficially owns 3,134,790 shares, or 4.428%, of the
Company's Common Stock.
(iii) The General Partner, as general partner of the Partnerships,
may be deemed to beneficially own 4,537,255 shares, or 6.409%,
of the Company's Common Stock.
(iv) Harwich, as managing member of the General Partner, may be
deemed to beneficially own 4,537,255 shares, or 6.409% of the
Company's Common Stock.
(v) Abner Kurtin, as managing member of Harwich, may be deemed to
beneficially own 4,537,255 shares, or 6.409%, of the Company's
Common Stock.
Each of the General Partner, Harwich and Mr. Kurtin disclaims
beneficial ownership of the shares of Common Stock owned by the Partnerships.
(b) The table below sets forth for each Reporting Person the number of
shares of Common Stock for which there is sole or shared power to vote or to
direct the vote, or sole or shared power to dispose or to direct the
disposition, of the Common Stock:
Special K
K Capital Capital
Offshore Offshore
Master Master Harwich
Fund (U.S. Fund (U.S. K Capital Capital
Dollar), Dollar), Partners, Partners, Abner
L.P. L.P. LLC LLC Kurtin
---- ---- --- --- ------
Sole Power to Vote/ Direct
Vote 1,402,465 3,134,790 4,537,255 4,537,255 4,537,255
Shared Power to Vote/
Direct Vote 0 0 0 0 0
Sole Power to Dispose/
Direct Disposition 1,402,465 3,134,790 4,537,255 4,537,255 4,537,255
Shared Power to Dispose/
Direct Disposition 0 0 0 0 0
(c) There have been no purchases or sales of the Company's stock by any of
the Reporting Persons since the Reporting Persons filed the Schedule 13D on
December 27, 2005, except that:
On January 4, 2006, K Capital Offshore Master Fund (U.S. Dollar),
L.P. sold 185,460 shares of Common Stock on the open market, at an
average price of $26.5726 per share.
On January 4, 2006, Special K Capital Offshore Master Fund (U.S.
Dollar), L.P. sold 414,540 shares of Common Stock on the open
market, at an average price of $26.5726 per share.
On January 5, 2006, K Capital Offshore Master Fund (U.S. Dollar),
L.P. sold 587 shares of Common Stock on the open market, at an
average price of $26.1432 per share.
On January 5, 2006, Special K Capital Offshore Master Fund (U.S.
Dollar), L.P. sold 1,313 shares of Common Stock on the open market,
at an average price of $26.1432 per share.
-2-
On January 9, 2006, K Capital Offshore Master Fund (U.S. Dollar),
L.P. sold 23,183 shares of Common Stock on the open market, at an
average price of $26.2213 per share.
On January 9, 2006, Special K Capital Offshore Master Fund (U.S.
Dollar), L.P. sold 51,817 shares of Common Stock on the open market,
at an average price of $26.2213 per share.
On January 10, 2006, K Capital Offshore Master Fund (U.S. Dollar),
L.P. sold 231,825 shares of Common Stock on the open market, at an
average price of $26.5433 per share.
On January 10, 2006, Special K Capital Offshore Master Fund (U.S.
Dollar), L.P. sold 518,175 shares of Common Stock on the open
market, at an average price of $26.5433 per share.
(d) No person other than each respective owner of Common Stock referred to
in this Amendment is known to have the right to receive or the power to direct
the receipt of dividends from or the proceeds from the sale of such Common
Stock.
(e) Not applicable.
Item 7. Material to be Filed as Exhibits.
The following exhibit is incorporated herein by reference:
EXHIBIT 1: Letter sent by K Capital Partners, LLC to the Board of
Directors of OfficeMax Incorporated on January 10, 2006.
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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.
Dated: January 10, 2006
K CAPITAL PARTNERS, LLC
By: Harwich Capital Partners, LLC, managing member
By: /s/ Robert T. Needham
----------------------------
Name: Robert T. Needham
Title: Chief Administrative Officer
HARWICH CAPITAL PARTNERS, LLC
By: /s/ Robert T. Needham
----------------------------
Name: Robert T. Needham
Title: Chief Administrative Officer
K CAPITAL OFFSHORE MASTER FUND (U.S. DOLLAR), L.P.
By: K Capital Partners, LLC, general partner
By: Harwich Capital Partners, LLC, managing member
By: /s/ Robert T. Needham
----------------------------
Name: Robert T. Needham
Title: Chief Administrative Officer
SPECIAL K CAPITAL OFFSHORE MASTER FUND (U.S. DOLLAR), L.P.
By: K Capital Partners, LLC, general partner
By: Harwich Capital Partners, LLC, managing member
By: /s/ Robert T. Needham
----------------------------
Name: Robert T. Needham
Title: Chief Administrative Officer
ABNER KURTIN
/s/ Abner Kurtin
- ----------------------------
Abner Kurtin
EXHIBIT 1
Board of Directors
OfficeMax Incorporated
150 Pierce Road
Itasca, IL 60143
January 10, 2006
To the Members of the Board:
We continue to believe that OfficeMax should be sold. We are confident that a
sale will create more value for shareholders than any alternative strategy.
Based on the stock market's reaction to our 13-D filing on December 27th, it is
quite clear that we are not alone in our belief.
The pervasiveness of this view is not limited to your shareholders. Goldman
Sachs, for instance, has issued a detailed research report that concludes "A
sale of the company would deliver superior value to shareholders" and estimates
a potential transaction could be valued at $39-$44 per share. We can only hope
that the Goldman Sachs investment bankers who are advising the board are
providing you with the same advice.
We believe that the best path forward for your shareholders is obvious. Why
should a company's shareholders have to run a proxy contest to convince its
board to do the right thing?
Abner Kurtin
Portfolio Manager