SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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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)
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
Red Robin Gourmet Burgers, Inc.
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(Name of Issuer)
Common Stock, Par Value $0.001 Per Share
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(Title of Class of Securities)
75689M101
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(CUSIP Number)
Marc Weingarten, Esq. and
David E. Rosewater, Esq.
Schulte Roth & Zabel LLP
919 Third Avenue
New York, New York 10022
(212) 756-2000
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
January 8, 2010
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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), 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 12 Pages)
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* 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. 75689M101 SCHEDULE 13D PAGE 2 OF 12 PAGES
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
CLINTON GROUP, INC.
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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*
AF
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5 CHECK BOX 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
- 0 -
----------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 949,782 (See Item 5)
OWNED BY ----------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON WITH - 0 -
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10 SHARED DISPOSITIVE POWER
949,782 (See Item 5)
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
949,782 (See Item 5)
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12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
[ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.5% (See Item 5)
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14 TYPE OF REPORTING PERSON*
IA; CO
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CUSIP NO. 75689M101 SCHEDULE 13D PAGE 3 OF 12 PAGES
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
CLINTON MAGNOLIA MASTER FUND, LTD.
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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*
WC
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5 CHECK BOX 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
- 0 -
----------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 949,782 (See Item 5)
OWNED BY ----------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON WITH - 0 -
----------------------------------------------------------
10 SHARED DISPOSITIVE POWER
949,782 (See Item 5)
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
949,782 (See Item 5)
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12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
[ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.5% (See Item 5)
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14 TYPE OF REPORTING PERSON*
CO
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* SEE INSTRUCTIONS
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CUSIP NO. 75689M101 SCHEDULE 13D PAGE 4 OF 12 PAGES
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
GEORGE HALL
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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*
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
- 0 -
----------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 949,782 (See Item 5)
OWNED BY ----------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON WITH - 0 -
----------------------------------------------------------
10 SHARED DISPOSITIVE POWER
949,782 (See Item 5)
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
949,782 (See Item 5)
--------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
[ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.5% (See Item 5)
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14 TYPE OF REPORTING PERSON*
IN
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* SEE INSTRUCTIONS
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CUSIP NO. 75689M101 SCHEDULE 13D PAGE 5 OF 12 PAGES
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
SPOTLIGHT ADVISORS, LLC.
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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*
WC
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5 CHECK BOX 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
- 0 -
----------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 3,000
OWNED BY ----------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON WITH - 0 -
----------------------------------------------------------
10 SHARED DISPOSITIVE POWER
3,000
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
3,000
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12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
[ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Less than 0.1%
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14 TYPE OF REPORTING PERSON*
CO
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* SEE INSTRUCTIONS
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CUSIP NO. 75689M101 SCHEDULE 13D PAGE 6 OF 12 PAGES
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
GREGORY P. TAXIN
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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*
AF
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5 CHECK BOX 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
- 0 -
----------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 3,000
OWNED BY ----------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON WITH - 0 -
----------------------------------------------------------
10 SHARED DISPOSITIVE POWER
3,000
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
3,000
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12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
[ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Less than 0.1%
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14 TYPE OF REPORTING PERSON*
IN
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* SEE INSTRUCTIONS
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CUSIP NO. 75689M101 SCHEDULE 13D PAGE 7 OF 12 PAGES
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ITEM 1. SECURITY AND ISSUER.
The Schedule 13D filed on December 22, 2009 (the "Schedule 13D") by the
Clinton Group, Inc., a Delaware corporation ("CGI"), Clinton Magnolia Master
Fund, Ltd., a Cayman Islands exempted company ("CMAG"), George Hall (CGI, CMAG
and George Hall, collectively "Clinton"), Spotlight Advisors, LLC, a Delaware
Limited Liability Company ("SAL"), and Gregory Taxin (SAL and Gregory Taxin,
collectively "Spotlight," and collectively with Clinton, the "Reporting
Persons") relating to the shares of Common Stock, $0.001 par value per share
(the "Shares"), of Red Robin Gourmet Burgers, Inc., a Delaware corporation (the
"Issuer"), is hereby amended as set forth below by this Amendment No. 1 to the
Schedule 13D.
ITEM 2. IDENTITY AND BACKGROUND.
Item 2 is hereby amended and restated in its entirety as follows:
(a) This statement is filed by Clinton Group, Inc., Clinton Magnolia
Master Fund, Ltd., George Hall, Spotlight Advisors, LLC, and Gregory Taxin.
(b) The principal business address of CGI, SAL, George Hall and
Gregory Taxin is 9 West 57th Street, 26th Floor, New York, New York 10019. The
principal business address of CMAG is c/o Fortis Fund Services (Cayman) Limited,
P.O. Box 2003 GT, Grand Pavilion Commercial Centre, 802 West Bay Road, Grand
Cayman, Cayman Islands.
(c) The principal business of CGI is investing for funds and
accounts under its management. The principal business of CMAG and SAL is to
invest in securities. George Hall is the Chief Investment Officer and President
of CGI. Gregory Taxin is the managing member of SAL. His principal occupation is
to invest in securities.
(d) None of the Reporting Persons nor any of the individuals set
forth in Schedule A attached hereto has, during the last five years, been
convicted in a criminal proceeding (excluding traffic violations or similar
misdemeanors).
(e) None of the Reporting Persons nor any of the individuals set
forth in Schedule A attached hereto has, during the last five years, been a
party to a civil proceeding of a judicial or administrative body of competent
jurisdiction and as a result of such proceeding was or is subject to a judgment,
decree or final order enjoining future violations of, or prohibiting or
mandating activities subject to, federal or state securities laws or finding any
violation with respect to such laws.
(f) George Hall and Gregory Taxin are citizens of the United States
of America.
The name, citizenship, present principal occupation or employment
and business address of each director and executive officer of CGI, CMAG and SAL
is set forth in Schedule A attached hereto. To the best of the Reporting
Persons' knowledge, except as set forth in this statement on Schedule 13D, none
of such individuals owns any Shares.
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CUSIP NO. 75689M101 SCHEDULE 13D PAGE 8 OF 12 PAGES
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ITEM 4. PURPOSE OF TRANSACTION.
Item 4 of the Schedule 13D is being amended to include the following:
On January 8, 2010 representatives of the Reporting Persons met with
Edward Harvey, the lead independent director of the Issuer's board of directors
(the "Board"). At that meeting, the Reporting Persons' representatives reviewed
the role of the Board and presented the Reporting Persons' views with respect to
the Issuer's business, including their concerns about (i) the Issuer's financial
and stock price underperformance, (ii) operational issues, (iii) the Issuer's
executive management, (iv) the Issuer's business strategy, (v) the Issuer's
executive compensation arrangements and (v) the lack of response by the Board to
a significant withhold vote in the last election of directors. The Reporting
Persons believe the Board should consider various changes in these areas of
concern.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
Item 5 of the Schedule 13D is being amended and restated in its entirety to
include the following:
(a) The aggregate percentage of Shares beneficially owned by the
Reporting Persons is based upon 15,580,644 Shares outstanding, which is the
total number of Shares outstanding as of November 3, 2009 as reported in the
Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange
Commission on November 6, 2009 for the period ended October 4, 2009.
As of the close of business on January 11, 2010, Clinton may be deemed
the beneficial owners of an aggregate of 949,782 Shares constituting
approximately 6.1% of the Shares outstanding. A recent Southern District of New
York decision determined that the reference shares in connection with swap
arrangements may be deemed to be beneficially owned by the holder of the swap.
That decision is under review by the Second Circuit Court of Appeals, but in the
event that shares referenced in swap arrangements may be deemed to be
beneficially owned by the holder of the swap, Clinton would beneficially own an
additional 58,800 Shares pursuant to the CMAG Swaps, described in Item 6 of the
Schedule 13D, for an aggregate of 1,008,582 Shares constituting approximately
6.5% of the Shares outstanding. Clinton expressly disclaims beneficial ownership
of the 58,800 Shares referenced in the swap arrangements. Spotlight may be
deemed to beneficially own 3,000 shares, constituting less that 0.1% of the
Shares outstanding.
By virtue of the Letter Agreement, filed as Exhibit 1 to the Schedule
13D and incorporated here by reference, the Reporting Persons may be deemed to
have formed a "group" within the meaning of Section 13(d)(3) of the Securities
Act of 1934 and may be deemed to beneficially own 952,782 Shares, constituting
approximately 6.1% of the Shares outstanding; provided that the Group may be
deemed to beneficially own 1,011,782 Shares, constituting approximately 6.5% of
the Shares outstanding due to the arrangements in regard to the CMAG Swaps as
discussed above. However, (i) Clinton expressly disclaims beneficial ownership
of (x) the Shares referenced in the CMAG Swaps and (y) the Shares beneficially
owned by Spotlight and (ii) Spotlight expressly disclaims beneficial ownership
of the Shares beneficially owned by Clinton.
(b) By virtue of investment management agreements with CMAG, CGI has
the power to vote or direct the voting, and to dispose or direct the
disposition, of all of the 949,782 Shares beneficially owned by CMAG. By virtue
of his direct and indirect control of CGI, George Hall is deemed to have shared
voting power and shared dispositive power with respect to all Shares as to which
CGI has voting power or dispositive power.
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CUSIP NO. 75689M101 SCHEDULE 13D PAGE 9 OF 12 PAGES
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By virtue of his direct control as managing member of SAL, Gregory
Taxin is deemed to have shared voting power and shared dispositive power with
respect to all Shares as to which SAL has voting power or dispositive power.
(c) Information concerning transactions in the Shares effected by the
Reporting Persons since the filing of the Schedule 13D is set forth in Schedule
B hereto and is incorporated herein by reference. Unless otherwise indicated,
all of such transactions were effected in the open market.
(d) No person (other than the Reporting Persons) 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, the Shares.
(e) Not applicable.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH
RESPECT TO SECURITIES OF THE ISSUER.
Item 6 of the Schedule 13D is being amended to include the following:
See Schedule B for option contracts with respect to securities of
the Issuer.
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CUSIP NO. 75689M101 SCHEDULE 13D PAGE 10 OF 12 PAGES
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SIGNATURES
After reasonable inquiry and to the best of his or its knowledge and
belief, each of the undersigned certifies that the information set forth in this
statement is true, complete and correct.
Dated: January 12, 2010
CLINTON GROUP, INC.
By: /s/ Francis Ruchalski
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Name: Francis Ruchalski
Title: Chief Financial Officer
CLINTON MAGNOLIA MASTER FUND, LTD.
By: Clinton Group, Inc. its investment
manager
By: /s/ Francis Ruchalski
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Name: Francis Ruchalski
Title: Chief Financial Officer
/s/ George Hall
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George Hall
SPOTLIGHT ADVISORS, LLC
By: /s/ Gregory P. Taxin
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Name: Gregory P. Taxin
Title: Managing Member
/s/ Gregory P. Taxin
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Gregory P. Taxin
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CUSIP NO. 75689M101 SCHEDULE 13D PAGE 11 OF 12 PAGES
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SCHEDULE A
DIRECTORS AND EXECUTIVE OFFICERS OF CERTAIN REPORTING PERSONS
The following sets forth the name, position and principal occupation of
each director and executive officer of CGI. Each such person is a citizen of the
United States of America. The business address of each director and executive
officer is 9 West 57th Street, 26th Floor, New York, New York 10019.
CLINTON GROUP, INC.
Name Position
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George Hall Director and President
Francis A. Ruchalski Director and Chief Financial Officer
John L. Hall Director
The following sets forth the name, citizenship, principal occupation and
business address of each director of each of CMAG and SAL. There are no
executive officers of CMAG or SAL.
CLINTON MAGNOLIA MASTER FUND, LTD.
Jane Fleming is a citizen of the United Kingdom. Her principal occupation is
Client Accountant of Queensgate Bank & Trust Company Ltd. Her business address
is Queensgate Bank & Trust Company Ltd., Harbour Place, 5th Floor, 103 South
Church Street, P.O. Box 30464 SMB, Grand Cayman, Cayman Islands.
Dennis Hunter is a citizen of the United Kingdom. His principal occupation is
Director of Queensgate Bank & Trust Company Ltd. His business address is
Queensgate Bank & Trust Company Ltd., Harbour Place, 5th Floor, 103 South Church
Street, P.O. Box 30464 SMB, Grand Cayman, Cayman Islands.
Roger Hanson is a citizen of the United Kingdom. His principal occupation is
director of dms Management Ltd. His business address is dms Management Ltd.,
P.O. Box 31910 SMB, Ansbacher House, 20 Genesis Close, Grand Cayman, Cayman
Islands.
SPOTLIGHT ADVISORS, LLC
Gregory Taxin is the Managing Member.
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CUSIP NO. 75689M101 SCHEDULE 13D PAGE 12 OF 12 PAGES
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SCHEDULE B
This Schedule sets forth information with respect to each purchase
and sale of Shares which were effectuated by the Reporting Persons since filing
the Schedule 13D. Unless otherwise indicated, all transactions were effectuated
in the open market through a broker.
CLINTON MAGNOLIA MASTER FUND, LTD.
EQUITY
Trade Date Shared Purchased (Sold) Price Per Share ($)
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12/22/2009 6,400 $18.42717
12/31/2009 25,000 $18.0973
01/04/2010 5,000 $17.73668
01/06/2010 19,238 $17.249946
01/07/2010 3,394 $17.137929
OPTIONS
Trade Date Expiration Date Quantity Strike Price ($)
------------ ----------------- ---------- --------------
12/21/2009 01/15/2010 100,000 $15
01/07/2010 01/15/2010 (1,800) $17.50
01/11/2010 01/15/2010 (30,100) $17.50