UNITED STATES
SECURITIES & EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No.)*
LaCrosse Footwear, Inc.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
505688101
(CUSIP Number)
Michael Emanuel, Esq.
c/o Loeb Partners Corporation
61 Broadway, N.Y., N.Y., 10006 (212) 483-7047
(Name, address and Telephone Number of Person Authorized to Receive Notices
and Communications)
May 3, 2005
(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 which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box [ ]. Check
the following box if a fee is being paid with statement [ ]. (A fee is not
required only if the following reporting person: (1) has a previous statement on
file reporting beneficial ownership of more than five percent of the class of
securities described is Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7.) Note: Six copies of this statement, including all exhibits,
should be filed with the Commission. See Rule 13d-1(a) 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 remained 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).
SCHEDULE 13D
CUSIP NO. 505688101
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Loeb Partners Corporation
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
3 SEC USE ONLY
4 SOURCE OF FUNDS*
WC, O
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED [ ]
PURSUANT TO ITEMS 2(d) or 2(e)
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
NUMBER OF 7 SOLE VOTING POWER
SHARES 9,968 Shares of Common stock
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 7,501 Shares of Common stock
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 9,968 Shares of Common stock
PERSON WITH 10 SHARED DISPOSITIVE POWER
7,501 Shares of Common stock
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
17,469 Shares of Common stock
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.30%
14 TYPE OF REPORTING PERSON*
CO, BD, IA
SCHEDULE 13D
CUSIP NO. 505688101
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Loeb Arbitrage Fund
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
3 SEC USE ONLY
4 SOURCE OF FUNDS
WC, O
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED [ ]
PURSUANT TO ITEMS 2(d) or 2(e)
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
NUMBER OF 7 SOLE VOTING POWER
SHARES 212,109 Shares of Common stock
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY -----
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 212,109 Shares of Common stock
PERSON WITH 10 SHARED DISPOSITIVE POWER
-----
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
212,109 Shares of Common stock
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.57%
14 TYPE OF REPORTING PERSON*
PN, BD
SCHEDULE 13D
CUSIP NO. 505688101
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Loeb Offshore Fund Ltd.
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
3 SEC USE ONLY
4 SOURCE OF FUNDS*
WC, O
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED [ ]
PURSUANT TO ITEMS 2(d) or 2(e)
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
NUMBER OF 7 SOLE VOTING POWER
SHARES 19,688 Shares of Common stock
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY --------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 19,688 Shares of Common stock
PERSON WITH 10 SHARED DISPOSITIVE POWER
-------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
19,688 Shares of Common stock
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.33%
14 TYPE OF REPORTING PERSON*
CO
SCHEDULE 13D
CUSIP NO. 505688101
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Loeb Marathon Fund LP
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
3 SEC USE ONLY
4 SOURCE OF FUNDS*
WC, O
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED [ ]
PURSUANT TO ITEMS 2(d) or 2(e)
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
NUMBER OF 7 SOLE VOTING POWER
SHARES 63,053 Shares of Common stock
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY --------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 63,053 Shares of Common stock
PERSON WITH 10 SHARED DISPOSITIVE POWER
-------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
63,053 Shares of Common Stock
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.06%
14 TYPE OF REPORTING PERSON*
PN
SCHEDULE 13D
CUSIP NO. 505688101
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Loeb Marathon Offshore Fund, Ltd.
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
3 SEC USE ONLY
4 SOURCE OF FUNDS*
WC, O
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED [ ]
PURSUANT TO ITEMS 2(d) or 2(e)
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
NUMBER OF 7 SOLE VOTING POWER
SHARES 22,853 Shares of Common stock
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY --------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 22,853 Shares of Common stock
PERSON WITH 10 SHARED DISPOSITIVE POWER
-------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
22,853 Shares of Common Stock
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.39%
14 TYPE OF REPORTING PERSON*
CO
Item 1. Security and Issuer.
------ -------------------
This statement refers to the Common Stock of LaCrosse Footwear, Inc., 18550 NE
Riverside Parkway, Portland, OR., 97230.
Item 2. Identity and Background.
------ -----------------------
Loeb Arbitrage Fund ("LAF"), 61 Broadway, New York, New York, 10006, is a New
York limited partnership. It is a registered broker/dealer. Its general partner
is Loeb Arbitrage Management, Inc., ("LAM"), a Delaware corporation, with the
same address. Its President is Gideon J. King. The other officers of LAM are
Thomas L. Kempner, Chairman of the Board, President, Peter A. Tcherepnine, Vice
President, Edward J. Campbell, Vice President. Loeb Partners Corporation
("LPC"), 61 Broadway, New York, New York, 10006, is a Delaware corporation. It
is a registered broker/dealer and a registered investment adviser. Thomas L.
Kempner is its President and a director and its Chief Executive Officer. Norman
N. Mintz is a Vice President and also a director. Gideon J. King is Executive
Vice President. Loeb Holding Corporation ("LHC"), a Maryland corporation, 61
Broadway, New York, New York, 10006 is the sole stockholder of LAM and LPC.
Thomas L. Kempner is its President and a director as well as its Chief Executive
Officer and majority stockholder. Norman N. Mintz and Peter A. Tcherepnine are
also directors. Loeb Offshore Fund, Ltd., ("LOF") is a Cayman Islands exempted
company. Loeb Offshore Management, LLC ("LOM") is a Delaware limited liability
company, a registered investment adviser and is wholly owned by Loeb Holding
Corporation. It is the investment adviser of LOF. Gideon J. King and Thomas L.
Kempner are Directors of LOF and Managers of LOM. Loeb Marathon Fund ("LMF") is
a Delaware limited partnership whose general partner is LAM. Loeb Marathon
Offshore Fund Ltd. ("LMOF") is a Cayman Islands exempted company. LOM is the
investment adviser of LMOF. All of the individuals named are United States
citizens. None have been, within the last five years, convicted in a criminal
proceeding (excluding traffic violations or similar misdemeanors) or been a
party to a civil proceeding of a judicial or administrative body of competent
jurisdiction and as a result of such proceeding been or are 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 violations with respect to such laws.
Item 3. Source and Amount of Funds or Other Compensation.
------ ------------------------------------------------
Shares of Common Stock were acquired by LAF, LPC, LOF, LMF and LMOF in margin
accounts maintained with Bear Stearns Securities Corp.
Item 4. Purpose of Transaction.
------ ----------------------
LAF, LPC*, LOF, LMF and LMOF ("Loeb") have acquired shares of Common Stock for
investment purposes. Loeb reserves the right, consistent with applicable law, to
acquire additional securities of the Issuer (whether through open market
purchases, block trades, private acquisitions, tender or exchange offers or
otherwise). Loeb intends to review its investment in the Issuer on a continuing
basis and may engage in discussions with management or the Board of Directors of
the Issuer concerning the business and future plans of the Issuer. Depending on
various factors, including, without limitation, the Issuer's financial position
and investment strategy, the price levels of the Common Stock of the Issuer,
conditions in the securities markets and general economic and industry
conditions, Loeb may in the future take such actions with respect to its
investment in the Issuer as it deems appropriate including, without limitation,
seeking Board representations, making proposals to the Issuer concerning the
capitalization of the Issuer, purchasing additional Common Stock and other
securities of the Issuer, selling some or all of its Common Stock, engaging in
short selling of or any hedging or similar transaction with respect to the
Common Stock of the Issuer or changing its intention partially or entirely with
respect to any and all matters referred to in Item 4.
Item 5. Interest in Securities of the Issuer.
------ ------------------------------------
(a) The persons reporting hereby owned the following shares of
Common Stock as of May 5, 2005.
Shares of Common Stock
Loeb Arbitrage Fund 212,109
Loeb Partners Corporation* 17,469
Loeb Offshore Fund Ltd. 19,688
Loeb Marathon Fund LP 63,053
Loeb Marathon Offshore Fund, Ltd. 22,853
-----------
335,172
The total shares of Common Stock constitutes 5.65% of the 5,934,000 outstanding
shares of Common Stock as reported by the issuer.
-------------------------
*Including shares of Common Stock purchased and sold for the account of one
customer of Loeb Partners Corporation as to which it has investment discretion.
(b) See paragraph (a) above.
(c) The following purchases of Common Stock have been made in the last sixty
(60) days by the following:
Purchases of Common Stock
Holder Date Shares Average Price
Loeb Partners Corp.* 03-17-05 39 $12.81
03-18-05 25 12.89
03-21-05 1445 12.89
03-22-05 14 12.83
03-28-05 54 12.37
03-31-05 107 11.87
04-01-05 383 11.72
04-07-05 161 12.26
04-08-05 57 12.26
04-11-05 27 12.19
04-11-05 30 12.19
04-12-05 321 12.11
04-13-05 111 12.08
04-19-05 195 12.01
04-25-05 142 12.00
04-26-05 37 11.96
04-28-05 152 12.20
04-29-05 278 12.20
05-03-05 1553 10.52
05-03-05 1821 10.30
05-04-05 689 9.81
Holder Date Shares Average Price
Loeb Arbitrage Fund 03-17-05 477 $12.80
03-18-05 345 12.89
03-21-05 395 12.88
03-22-05 170 12.82
03-28-05 678 12.36
03-29-05 100 12.37
03-31-05 1316 11.86
04-01-05 4695 11.72
04-07-05 2060 12.26
04-08-05 161 12.26
04-11-05 10 12.26
04-11-05 151 12.19
04-12-05 4913 12.11
04-13-05 1365 12.08
04-19-05 2286 12.01
04-25-05 1921 11.99
04-26-05 500 11.95
04-28-05 1877 12.20
04-29-05 3411 12.19
05-03-05 38569 10.29
05-03-05 546 12.13
05-04-05 8414 9.80
Holder Date Shares Average Price
Loeb Offshore Fund Ltd. 03-17-05 44 $12.80
03-18-05 30 12.89
03-22-05 16 12.82
03-28-05 60 12.36
03-31-05 120 11.86
04-01-05 428 11.72
04-07-05 179 12.26
04-08-05 305 12.26
04-11-05 305 12.19
04-13-05 124 12.08
04-19-05 341 12.01
04-28-05 171 12.20
04-29-05 311 12.19
05-03-05 3581 10.29
05-03-05 117 12.13
05-04-05 777 9.80
Holder Date Shares Average Price
Loeb Marathon Fund LP 03-17-05 103 $12.80
03-21-05 333 12.88
03-28-05 223 12.36
03-30-05 367 12.06
03-30-05 1105 12.06
03-31-05 2577 11.86
04-01-05 1140 11.72
04-07-05 440 12.26
04-08-05 137 12.26
04-11-05 137 12.19
04-12-05 1368 12.11
04-13-05 366 11.81
04-19-05 100 11.80
04-19-05 266 11.81
04-19-05 737 12.01
04-25-05 539 11.99
04-26-05 140 11.95
04-27-05 1228 12.01
04-27-05 147 11.76
04-28-05 733 12.20
04-29-05 2933 12.19
04-29-05 36 11.96
05-03-05 240 12.13
05-03-05 7336 10.25
05-04-05 1445 9.80
05-05-05 120 10.91
Holder Date Shares Average Price
Loeb Marathon Offshore 03-17-05 37 $12.80
Fund Ltd. 03-21-05 127 12.88
03-28-05 85 12.36
03-30-05 133 12.06
03-30-05 395 12.06
03-31-05 1080 11.86
04-01-05 421 11.72
04-07-05 160 12.26
04-08-05 50 12.26
04-11-05 50 12.19
04-12-05 498 12.11
04-18-05 133 11.80
04-19-05 268 12.01
04-25-05 196 11.99
04-26-05 50 11.95
04-27-05 53 11.76
04-27-05 447 12.01
04-28-05 267 12.20
04-29-05 1067 12.19
04-29-05 1031 12.19
05-03-05 87 12.13
05-03-05 2664 10.29
05-04-05 525 9.80
-
Sales of Common Stock
Holder Date Shares Average Price
Loeb Partners Corp.* 04-11-05 57 $ 12.26
04-26-05 142 12.00
Holder Date Shares Average Price
Loeb Arbitrage Fund 04-08-05 161 $ 12.26
04-26-05 1921 11.99
Holder Date Shares Average Price
Loeb Offshore Fund 04-11-05 305 $ 12.26
Holder Date Shares Average Price
Loeb Marathon Fund LP 04-11-05 137 $12.26
04-19-05 366 11.81
04-26-05 539 11.99
Holder Date Shares Average Price
Loeb Marathon Offshore 04-11-05 50 $12.26
Fund Ltd. 04-26-05 196 11.99
04-29-05 1067 12.19
-------------------
*Including 2,861 shares of Common Stock purchased and 89 shares of Common Stock
sold for the account of one customer of Loeb Partners Corporation as to which it
has investment discretion.
All reported transactions were effected on Nasdaq.
(d) Not applicable.
(e). Not applicable.
Item 6.Contracts, Arrangements, Understandings or Relationships with Respect to
the Issuer.
None.
Item 7. Materials to be Filed as Exhibits.
None.
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.
May 6, 2005 Loeb Partners Corporation
By: /s/ Gideon J. King
Executive Vice President
May 6, 2005 Loeb Arbitrage Fund
By: Loeb Arbitrage Management, Inc., G.P.
By: /s/ Gideon J. King
President
May 6, 2005 Loeb Offshore Fund Ltd.
By: /s/ Gideon J. King
Director
May 6, 2005 Loeb Marathon Fund LP
By: Loeb Arbitrage Management, Inc., G.P.
By: /s/ Gideon J. King
President
May 6, 2005 Loeb Marathon Offshore Fund Ltd.
By: /s/ Gideon J. King
Director