sec document
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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. 1)(1)
Reunion Industries, Inc.
------------------------
(Name of Issuer)
Common Stock, $.01 Par Value
----------------------------
(Title of Class of Securities)
761312 10 7
-----------
(CUSIP Number)
STEVEN WOLOSKY, ESQ.
OLSHAN GRUNDMAN FROME ROSENZWEIG & WOLOSKY LLP
Park Avenue Tower
65 East 55th Street
New York, New York 10022
(212) 451-2300
--------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
December 18, 2006
-----------------
(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 /X/.
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 26 Pages)
--------
(1) 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 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. 761312 10 7 13D Page 2 of 26 Pages
------------------------ ----------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
WEBFINANCIAL CORPORATION
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
--------------------------------------------------------------------------------
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
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 779,420
OWNED BY -----------------------------------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING
PERSON WITH - 0 -
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
779,420
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- 0 -
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
779,420
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.5%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
------------------------ ----------------------
CUSIP No. 761312 10 7 13D Page 3 of 26 Pages
------------------------ ----------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
STEEL PARTNERS II, L.P.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
--------------------------------------------------------------------------------
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
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 779,420
OWNED BY -----------------------------------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING
PERSON WITH - 0 -
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
779,420
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- 0 -
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
779,420
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.5%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
------------------------ ----------------------
CUSIP No. 761312 10 7 13D Page 4 of 26 Pages
------------------------ ----------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
STEEL PARTNERS, L.L.C.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
--------------------------------------------------------------------------------
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
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 779,420
OWNED BY -----------------------------------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING
PERSON WITH - 0 -
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
779,420
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- 0 -
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
779,420
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.5%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
------------------------ ----------------------
CUSIP No. 761312 10 7 13D Page 5 of 26 Pages
------------------------ ----------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
WARREN G. LICHTENSTEIN
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 779,420
OWNED BY -----------------------------------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING
PERSON WITH - 0 -
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
779,420
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- 0 -
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
779,420
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.5%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
------------------------ ----------------------
CUSIP No. 761312 10 7 13D Page 6 of 26 Pages
------------------------ ----------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
JACK L. HOWARD
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF, OO
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 58,900
OWNED BY -----------------------------------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING
PERSON WITH - 0 -
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
58,900
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- 0 -
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
58,900
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
LESS THAN 1%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
------------------------ ----------------------
CUSIP No. 761312 10 7 13D Page 7 of 26 Pages
------------------------ ----------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
J.L. HOWARD, INC.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
--------------------------------------------------------------------------------
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
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 14,300
OWNED BY -----------------------------------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING
PERSON WITH - 0 -
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
14,300
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
- 0 -
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
14,300
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
LESS THAN 1%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
------------------------ ----------------------
CUSIP No. 761312 10 7 13D Page 8 of 26 Pages
------------------------ ----------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
LC CAPITAL MASTER FUND, LTD.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
--------------------------------------------------------------------------------
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
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY - 0 -
OWNED BY -----------------------------------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING
PERSON WITH 1,919,055
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
- 0 -
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,919,055
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
1,919,055
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
10.0%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
------------------------ ----------------------
CUSIP No. 761312 10 7 13D Page 9 of 26 Pages
------------------------ ----------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
LC CAPITAL PARTNERS, LP
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
AF
--------------------------------------------------------------------------------
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
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY - 0 -
OWNED BY -----------------------------------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING
PERSON WITH 1,919,055
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
- 0 -
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,919,055
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
1,919,055
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
10.0%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN, HC
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
------------------------ ----------------------
CUSIP No. 761312 10 7 13D Page 10 of 26 Pages
------------------------ ----------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
LC CAPITAL SPV, LTD.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
AF
--------------------------------------------------------------------------------
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
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY - 0 -
OWNED BY -----------------------------------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING
PERSON WITH 1,919,055
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
- 0 -
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,919,055
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
1,919,055
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
10.0%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO, HC
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
------------------------ ----------------------
CUSIP No. 761312 10 7 13D Page 11 of 26 Pages
------------------------ ----------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
LC CAPITAL OFFSHORE FUND, LTD.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
AF
--------------------------------------------------------------------------------
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
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY - 0 -
OWNED BY -----------------------------------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING
PERSON WITH 1,919,055
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
- 0 -
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,919,055
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
1,919,055
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
10.0%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO, HC
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
------------------------ ----------------------
CUSIP No. 761312 10 7 13D Page 12 of 26 Pages
------------------------ ----------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
LC CAPITAL ADVISORS LLC
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
AF
--------------------------------------------------------------------------------
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
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY - 0 -
OWNED BY -----------------------------------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING
PERSON WITH 1,919,055
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
- 0 -
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,919,055
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
1,919,055
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
10.0%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO, HC
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
------------------------ ----------------------
CUSIP No. 761312 10 7 13D Page 13 of 26 Pages
------------------------ ----------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
LAMPE, CONWAY & CO., LLC
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
AF
--------------------------------------------------------------------------------
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
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY - 0 -
OWNED BY -----------------------------------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING
PERSON WITH 1,919,055
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
- 0 -
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,919,055
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
1,919,055
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
10.0%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
------------------------ ----------------------
CUSIP No. 761312 10 7 13D Page 14 of 26 Pages
------------------------ ----------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
LC CAPITAL INTERNATIONAL LLC
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
AF
--------------------------------------------------------------------------------
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
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY - 0 -
OWNED BY -----------------------------------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING
PERSON WITH 1,919,055
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
- 0 -
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,919,055
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
1,919,055
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
10.0%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO, IA
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
------------------------ ----------------------
CUSIP No. 761312 10 7 13D Page 15 of 26 Pages
------------------------ ----------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
STEVEN G. LAMPE
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
AF, PF, OO
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 55,000
OWNED BY -----------------------------------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING
PERSON WITH 1,919,055
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
55,000
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,919,055
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
1,974,055
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
10.2%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
------------------------ ----------------------
CUSIP No. 761312 10 7 13D Page 16 of 26 Pages
------------------------ ----------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
RICHARD F. CONWAY
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
AF
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY - 0 -
OWNED BY -----------------------------------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING
PERSON WITH 1,919,055
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
- 0 -
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,919,055
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
1,919,055
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
10.0%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
------------------------ ----------------------
CUSIP No. 761312 10 7 13D Page 17 of 26 Pages
------------------------ ----------------------
The following constitutes Amendment No. 1 to the Schedule 13D filed by the
undersigned with the Securities and Exchange Commission on October 26, 2006 (the
"Initial Schedule 13D"). This Amendment No. 1 amends the Initial Schedule 13D as
specifically set forth.
Items 2 and 4 are hereby amended to add the following:
The Steel Parties and the LC Parties previously agreed in principle to
act as a group with respect to their investments in the Issuer. Effective
December 18, 2006, the Steel Parties and the LC Parties terminated their
arrangement to act as a group and entered into certain agreements with respect
to the purchase and sale of certain indebtedness of the Issuer. Accordingly, the
Section 13(d) group comprised of the Steel Parties and the LC Parties has been
disbanded. As a result, the Steel Parties may no longer be deemed to be the
beneficial owners of more than 5% of the Shares of the Issuer and therefore
shall cease to be Reporting Persons immediately after the filing of this
Statement. The LC Parties will continue filing statements on Schedule 13D with
respect to their beneficial ownership of securities of the Issuer to the extent
required by applicable law.
Item 5(a) is hereby amended and restated to read as follows:
(a) The aggregate percentage of Shares reported owned by each person
named herein is based upon 17,435,969 Shares outstanding, which is the total
number of Shares outstanding as reported in the Issuer's Quarterly Report on
Form 10-Q for the quarter ended September 30, 2006, as filed with the Securities
and Exchange Commission on November 14, 2006. The Shares issuable upon exercise
of the warrants owned by LC Master Fund are also deemed to be outstanding for
the purpose of computing its percentage ownership of the Shares.
As of the close of business on December 18, 2006, WebFinancial
beneficially owned 779,420 Shares, constituting approximately 4.5% of the Shares
outstanding. By virtue of their relationships with WebFinancial discussed in
Item 2 of the Initial Schedule 13D, each of Steel Partners II, Partners LLC and
Warren Lichtenstein may be deemed to beneficially own the 779,420 Shares owned
by WebFinancial.
As of the close of business on December 18, 2006, Jack Howard
beneficially owned 58,900 Shares, constituting less than 1% of the Shares
outstanding. The 58,900 Shares beneficially owned by Mr. Howard consist of
44,600 Shares owned by Mr. Howard and 14,300 Shares owned by J.L. Howard. By
virtue of his relationship with J.L. Howard discussed in Item 2 of the Initial
Schedule 13D, Mr. Howard may be deemed to beneficially own the 14,300 Shares
owned by J.L. Howard.
As of the close of business on December 18, 2006, LC Master Fund
beneficially owned 1,919,055 Shares, constituting approximately 10.0% of the
Shares outstanding. The 1,919,055 Shares beneficially owned by LC Master Fund
consist of 93,000 Shares held directly by LC Master Fund and an aggregate of
1,826,055 Shares issuable upon exercise of currently exercisable warrants that
were issued to LC Master Fund either in connection with loan arrangements with
the Issuer as discussed in further detail in Item 6 of the Initial Schedule 13D
or in accordance with the anti-dilution provisions of warrants issued in
------------------------ ----------------------
CUSIP No. 761312 10 7 13D Page 18 of 26 Pages
------------------------ ----------------------
connection with the aforementioned loan arrangements. By virtue of their
relationships with LC Master Fund discussed in Item 2 of the Initial Schedule
13D, each of LC Partners, LC SPV, LC Offshore Fund, LC Advisors, LC&C, LC
International, Steven G. Lampe and Richard F. Conway may be deemed to
beneficially own the 1,919,055 Shares owned by LC Master Fund. Mr. Lampe
directly owns 55,000 Shares which, together with the 1,919,055 Shares owned by
LC Master Fund, constitutes approximately 10.2% of the Shares outstanding. Each
of the other LC Parties specifically disclaims beneficial ownership of such
Shares directly held by Mr. Lampe.
The filing of this Statement by the Reporting Persons, and the
inclusion of information herein and therein, shall not be considered an
admission that any of such persons, for the purpose of Section 13(d) of the
Exchange Act, or otherwise, are the beneficial owners of any Shares in which
such persons do not have a pecuniary interest. Furthermore, the Steel Parties
specifically disclaim beneficial ownership of the Shares owned by the LC Parties
and the LC Parties specifically disclaim beneficial ownership of the Shares
owned by the Steel Parties.
Item 5(e) is hereby amended and restated to read as follows:
(e) Effective December 18, 2006, the Steel Parties ceased to be the
beneficial owners of more than 5% of the Shares of the Issuer.
Item 6 is hereby amended to add the following:
Effective December 18, 2006, WebFinancial and LC Master Fund
terminated their arrangement to act jointly to purchase debt securities of the
Issuer in the open market.
On December 18, 2006, the Reporting Persons entered into an agreement
pursuant to which the Reporting Persons terminated their obligations under the
Joint Filing Agreement to jointly file amendments to the Initial Schedule 13D. A
copy of the agreement is attached as an exhibit hereto and incorporated herein
by reference.
On December 18, 2006, Steel Partners II, WebFinancial and LC Master
Fund entered into a letter agreement pursuant to which WebFinancial and Steel
Partners II agreed to purchase from LC Master Fund all of the indebtedness of
the Issuer owned by LC Master Fund.
Other than as described herein, there are no contracts, arrangements,
understandings or relationships among the Reporting Persons, or between the
Reporting Persons and any other person, with respect to the securities of the
Issuer.
------------------------ ----------------------
CUSIP No. 761312 10 7 13D Page 19 of 26 Pages
------------------------ ----------------------
Item 7 is hereby amended to add the following exhibit:
3. Termination of Joint Filing Agreement by and among
WebFinancial Corporation, Steel Partners II, L.P., Steel
Partners, L.L.C., Warren G. Lichtenstein, Jack Howard, J.L.
Howard, Inc., LC Capital Master Fund, Ltd., LC Capital
Partners, LP, LC Capital SPV, Ltd., LC Capital Offshore Fund,
Ltd., LC Capital Advisors LLC, Lampe, Conway & Co., LLC, LC
Capital International LLC, Steven G. Lampe and Richard F.
Conway, dated December 18, 2006.
------------------------ ----------------------
CUSIP No. 761312 10 7 13D Page 20 of 26 Pages
------------------------ ----------------------
SIGNATURES
After reasonable inquiry and to the best of his knowledge and belief,
each of the undersigned certifies that the information set forth in this
statement is true, complete and correct.
Dated: December 19, 2006 WEBFINANCIAL CORPORATION
By: /s/ James Henderson
-----------------------------------------------
Name: James Henderson
Title: Chief Executive Officer
STEEL PARTNERS II, L.P.
By: Steel Partners, L.L.C.
its General Partner
By: /s/ Lauren Isenman
-----------------------------------------------
Lauren Isenman
as Attorney-In-Fact for Warren G. Lichtenstein,
Managing Member
STEEL PARTNERS, L.L.C.
By: /s/ Lauren Isenman
-----------------------------------------------
Lauren Isenman
as Attorney-In-Fact for Warren G. Lichtenstein,
Managing Member
/s/ Lauren Isenman
---------------------------------------------------
LAUREN ISENMAN
As Attorney-In-Fact for Warren G. Lichtenstein
J.L. HOWARD, INC.
By: /s/ Jack L. Howard
-----------------------------------------------
Jack L. Howard
President and Chief Financial Officer
/s/ Jack L. Howard
---------------------------------------------------
JACK L. HOWARD
------------------------ ----------------------
CUSIP No. 761312 10 7 13D Page 21 of 26 Pages
------------------------ ----------------------
LC CAPITAL MASTER FUND, LTD.
By: /s/ Richard F. Conway
-----------------------------------------------
Richard F. Conway
Director
LC CAPITAL PARTNERS, LP
By: LC Capital Advisors LLC
its General Partner
By: /s/ Richard F. Conway
-----------------------------------------------
Richard F. Conway
Managing Member
LC CAPITAL SPV, LTD.
By: /s/ Richard F. Conway
-----------------------------------------------
Richard F. Conway
Director
LC CAPITAL OFFSHORE FUND, LTD.
By: /s/ Richard F. Conway
-----------------------------------------------
Richard F. Conway
Director
LC CAPITAL ADVISORS LLC
By: /s/ Richard F. Conway
-----------------------------------------------
Richard F. Conway
Managing Member
LAMPE, CONWAY & CO., LLC
By: /s/ Richard F. Conway
-----------------------------------------------
Richard F. Conway
Managing Member
------------------------ ----------------------
CUSIP No. 761312 10 7 13D Page 22 of 26 Pages
------------------------ ----------------------
LC CAPITAL INTERNATIONAL LLC
By: /s/ Richard F. Conway
-----------------------------------------------
Richard F. Conway
Managing Member
/s/ Richard F. Conway
---------------------------------------------------
RICHARD F. CONWAY
/s/ Steven G. Lampe
---------------------------------------------------
STEVEN G. LAMPE
------------------------ ----------------------
CUSIP No. 761312 10 7 13D Page 23 of 26 Pages
------------------------ ----------------------
EXHIBIT INDEX
Exhibit Page
------- ----
1. Joint Filing Agreement by and among WebFinancial --
Corporation, Steel Partners II, L.P., Steel Partners,
L.L.C., Warren G. Lichtenstein, Jack L. Howard, J.L. Howard,
Inc., LC Capital Master Fund, Ltd., LC Capital Partners, LP,
LC Capital SPV, Ltd., LC Capital Offshore Fund, Ltd., LC
Capital Advisors LLC, Lampe, Conway & Co., LLC, LC Capital
International LLC, Steven G. Lampe and Richard F. Conway,
dated October 26, 2006 (previously filed).
2. Powers of Attorney (previously filed). --
3. Termination of Joint Filing Agreement by and among 24 to 26
WebFinancial Corporation, Steel Partners II, L.P., Steel
Partners, L.L.C., Warren G. Lichtenstein, Jack Howard, J.L.
Howard, Inc., LC Capital Master Fund, Ltd., LC Capital
Partners, LP, LC Capital SPV, Ltd., LC Capital Offshore
Fund, Ltd., LC Capital Advisors LLC, Lampe, Conway & Co.,
LLC, LC Capital International LLC, Steven G. Lampe and
Richard F. Conway, dated December 18, 2006.
------------------------ ----------------------
CUSIP No. 761312 10 7 13D Page 24 of 26 Pages
------------------------ ----------------------
TERMINATION OF JOINT FILING AGREEMENT
Reference is made to that certain Joint Filing Agreement by and among
the undersigned dated October 26, 2006 pursuant to which the undersigned agreed
to, among other things, the joint filing on behalf of each of them of a
Statement on Schedule 13D dated October 26, 2006 (the "Schedule 13D") (including
amendments thereto) with respect to the Common Stock of Reunion Industries, Inc.
(the "Issuer"). The undersigned agree to terminate their obligations to jointly
file amendments to the Schedule 13D with respect to the Common Stock of the
Issuer effective immediately after the joint filing of Amendment No. 1 to the
Schedule 13D to be filed on the date hereof reporting the disbandment of the
Section 13(d) group previously formed by the undersigned with respect to their
investment in the Issuer. The termination of the undersigned's obligations to
continue to jointly file amendments to the Schedule 13D will not, however,
affect any party's indemnification obligations under the Joint Filing Agreement.
Dated: December 18, 2006 WEBFINANCIAL CORPORATION
By: /s/ James Henderson
-----------------------------------------------
Name: James Henderson
Title: Chief Executive Officer
STEEL PARTNERS II, L.P.
By: Steel Partners, L.L.C.
its General Partner
By: /s/ Lauren Isenman
-----------------------------------------------
Lauren Isenman
as Attorney-In-Fact for Warren G. Lichtenstein,
Managing Member
STEEL PARTNERS, L.L.C.
By: /s/ Lauren Isenman
-----------------------------------------------
Lauren Isenman
as Attorney-In-Fact for Warren G. Lichtenstein,
Managing Member
/s/ Lauren Isenman
---------------------------------------------------
LAUREN ISENMAN
As Attorney-In-Fact for Warren G. Lichtenstein
------------------------ ----------------------
CUSIP No. 761312 10 7 13D Page 25 of 26 Pages
------------------------ ----------------------
J.L. HOWARD, INC.
By: /s/ Jack L. Howard
-----------------------------------------------
Jack L. Howard
President and Chief Financial Officer
/s/ Jack L. Howard
---------------------------------------------------
JACK L. HOWARD
LC CAPITAL MASTER FUND, LTD.
By: /s/ Richard F. Conway
-----------------------------------------------
Richard F. Conway
Director
LC CAPITAL PARTNERS, LP
By: LC Capital Advisors LLC
its General Partner
By: /s/ Richard F. Conway
-----------------------------------------------
Richard F. Conway
Managing Member
LC CAPITAL SPV, LTD.
By: /s/ Richard F. Conway
-----------------------------------------------
Richard F. Conway
Director
LC CAPITAL OFFSHORE FUND, LTD.
By: /s/ Richard F. Conway
-----------------------------------------------
Richard F. Conway
Director
LC CAPITAL ADVISORS LLC
By: /s/ Richard F. Conway
-----------------------------------------------
Richard F. Conway
Managing Member
------------------------ ----------------------
CUSIP No. 761312 10 7 13D Page 26 of 26 Pages
------------------------ ----------------------
LAMPE, CONWAY & CO., LLC
By: /s/ Richard F. Conway
-----------------------------------------------
Richard F. Conway
Managing Member
LC CAPITAL INTERNATIONAL LLC
By: /s/ Richard F. Conway
-----------------------------------------------
Richard F. Conway
Managing Member
/s/ Richard F. Conway
---------------------------------------------------
RICHARD F. CONWAY
/s/ Steven G. Lampe
---------------------------------------------------
STEVEN G. LAMPE