SECURITIES & EXCHANGE COMMISSION
Washington, D.C. 20549
----------------------
SCHEDULE 13G/A
Under the Securities Exchange Act of 1934
Navios Maritime Holdings Inc.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
Y62196103
(CUSIP Number)
December 31, 2005
(Date of event which requires filing of this statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule 13G is filed:
[ ] Rule 13d-1(b)
[X] Rule 13d-1(c)
[ ] Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which would
alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be
deemed to be "filed" for purposes 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).
Continued on following pages
(Page 1 of 29 Pages)
Exhibit List: Page 27
CUSIP No. Y62196103 13G/A Page 2 of 29 Pages
- -------------------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
SATELLITE FUND I, L.P.
- -----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
- -----------------------------------------------------------------------------
(3) SEC USE ONLY
- -----------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
- -----------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
0
SHARES ______________________________________________________________
BENEFICIALLY (6) SHARED VOTING POWER
10,620
OWNED BY ______________________________________________________________
EACH (7) SOLE DISPOSITIVE POWER
0
REPORTING ______________________________________________________________
PERSON WITH (8) SHARED DISPOSITIVE POWER
10,620
- -----------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
- -----------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES **
[ ]
- -----------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.03%
- -----------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON ** PN
- -----------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. Y62196103 13G/A Page 3 of 29 Pages
- -------------------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
SATELLITE FUND II, L.P.
- -----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
- -----------------------------------------------------------------------------
(3) SEC USE ONLY
- -----------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
- -----------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
0
SHARES ______________________________________________________________
BENEFICIALLY (6) SHARED VOTING POWER
56,730
OWNED BY ______________________________________________________________
EACH (7) SOLE DISPOSITIVE POWER
0
REPORTING ______________________________________________________________
PERSON WITH (8) SHARED DISPOSITIVE POWER
56,730
- -----------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
- -----------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES **
[ ]
- -----------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.14%
- -----------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
PN
- -----------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. Y62196103 13G/A Page 4 of 29 Pages
- -------------------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
SATELLITE FUND IV, L.P.
- -----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
- -----------------------------------------------------------------------------
(3) SEC USE ONLY
- -----------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
- -----------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
0
SHARES ______________________________________________________________
BENEFICIALLY (6) SHARED VOTING POWER
18,350
OWNED BY ______________________________________________________________
EACH (7) SOLE DISPOSITIVE POWER
0
REPORTING ______________________________________________________________
PERSON WITH (8) SHARED DISPOSITIVE POWER
18,350
- -----------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
- -----------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES **
[ ]
- -----------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.05%
- -----------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
PN
- -----------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. Y62196103 13G/A Page 5 of 29 Pages
- -------------------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
SATELLITE OVERSEAS FUND, LTD.
- -----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
- -----------------------------------------------------------------------------
(3) SEC USE ONLY
- -----------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
CAYMAN ISLANDS
- -----------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
0
SHARES ______________________________________________________________
BENEFICIALLY (6) SHARED VOTING POWER
149,760
OWNED BY ______________________________________________________________
EACH (7) SOLE DISPOSITIVE POWER
0
REPORTING ______________________________________________________________
PERSON WITH (8) SHARED DISPOSITIVE POWER
149,760
- -----------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
- -----------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES **
[ ]
- -----------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.38%
- -----------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
CO
- -----------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. Y62196103 13G/A Page 6 of 29 Pages
- -------------------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
THE APOGEE FUND, LTD. (F/K/A SATELLITE OVERSEAS FUND III, LTD.)
- -----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
- -----------------------------------------------------------------------------
(3) SEC USE ONLY
- -----------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
CAYMAN ISLANDS
- -----------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
0
SHARES ______________________________________________________________
BENEFICIALLY (6) SHARED VOTING POWER
46,140
OWNED BY ______________________________________________________________
EACH (7) SOLE DISPOSITIVE POWER
0
REPORTING ______________________________________________________________
PERSON WITH (8) SHARED DISPOSITIVE POWER
46,140
- -----------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
- -----------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES **
[ ]
- -----------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.12%
- -----------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
CO
- -----------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. Y62196103 13G/A Page 7 of 29 Pages
- -------------------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
SATELLITE OVERSEAS FUND V, LTD.
- -----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
- -----------------------------------------------------------------------------
(3) SEC USE ONLY
- -----------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
CAYMAN ISLANDS
- -----------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
0
SHARES ______________________________________________________________
BENEFICIALLY (6) SHARED VOTING POWER
34,010
OWNED BY ______________________________________________________________
EACH (7) SOLE DISPOSITIVE POWER
0
REPORTING ______________________________________________________________
PERSON WITH (8) SHARED DISPOSITIVE POWER
34,010
- -----------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
- -----------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES **
[ ]
- -----------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.09%
- -----------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
CO
- -----------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. Y62196103 13G/A Page 8 of 29 Pages
- -------------------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
SATELLITE OVERSEAS FUND VI, LTD.
- -----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
- -----------------------------------------------------------------------------
(3) SEC USE ONLY
- -----------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
CAYMAN ISLANDS
- -----------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
0
SHARES ______________________________________________________________
BENEFICIALLY (6) SHARED VOTING POWER
9,370
OWNED BY ______________________________________________________________
EACH (7) SOLE DISPOSITIVE POWER
0
REPORTING ______________________________________________________________
PERSON WITH (8) SHARED DISPOSITIVE POWER
9,370
- -----------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
- -----------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES **
[ ]
- -----------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.02%
- -----------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
CO
- -----------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. Y62196103 13G/A Page 9 of 29 Pages
- -------------------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
SATELLITE OVERSEAS FUND VII, LTD.
- -----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
- -----------------------------------------------------------------------------
(3) SEC USE ONLY
- -----------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
CAYMAN ISLANDS
- -----------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
0
SHARES ______________________________________________________________
BENEFICIALLY (6) SHARED VOTING POWER
17,760
OWNED BY ______________________________________________________________
EACH (7) SOLE DISPOSITIVE POWER
0
REPORTING ______________________________________________________________
PERSON WITH (8) SHARED DISPOSITIVE POWER
17,760
- -----------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
- -----------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES **
[ ]
- -----------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.04%
- -----------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
CO
- -----------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. Y62196103 13G/A Page 10 of 29 Pages
- -------------------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
SATELLITE OVERSEAS FUND VIII, LTD.
- -----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
- -----------------------------------------------------------------------------
(3) SEC USE ONLY
- -----------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
CAYMAN ISLANDS
- -----------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
0
SHARES ______________________________________________________________
BENEFICIALLY (6) SHARED VOTING POWER
28,690
OWNED BY ______________________________________________________________
EACH (7) SOLE DISPOSITIVE POWER
0
REPORTING ______________________________________________________________
PERSON WITH (8) SHARED DISPOSITIVE POWER
28,690
- -----------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
- -----------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES **
[ ]
- -----------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.07%
- -----------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
CO
- -----------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. Y62196103 13G/A Page 11 of 29 Pages
- -------------------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
SATELLITE STRATEGIC FINANCE PARTNERS, LTD.
- -----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
- -----------------------------------------------------------------------------
(3) SEC USE ONLY
- -----------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
CAYMAN ISLANDS
- -----------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
0
SHARES ______________________________________________________________
BENEFICIALLY (6) SHARED VOTING POWER
488,070
OWNED BY ______________________________________________________________
EACH (7) SOLE DISPOSITIVE POWER
0
REPORTING ______________________________________________________________
PERSON WITH (8) SHARED DISPOSITIVE POWER
488,070
- -----------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
- -----------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES **
[ ]
- -----------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
1.22%
- -----------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
CO
- -----------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. Y62196103 13G/A Page 12 of 29 Pages
- -------------------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
SATELLITE ASSET MANAGEMENT, L.P.
- -----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
- -----------------------------------------------------------------------------
(3) SEC USE ONLY
- -----------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
- -----------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
0
SHARES ______________________________________________________________
BENEFICIALLY (6) SHARED VOTING POWER
859,500
OWNED BY ______________________________________________________________
EACH (7) SOLE DISPOSITIVE POWER
0
REPORTING ______________________________________________________________
PERSON WITH (8) SHARED DISPOSITIVE POWER
859,500
- -----------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
- -----------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES**
[ ]
- -----------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
2.15%
- -----------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
PN
- -----------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. Y62196103 13G/A Page 13 of 29 Pages
- -------------------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
SATELLITE FUND MANAGEMENT LLC
- -----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
- -----------------------------------------------------------------------------
(3) SEC USE ONLY
- -----------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
- -----------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
0
SHARES ______________________________________________________________
BENEFICIALLY (6) SHARED VOTING POWER
859,500
OWNED BY ______________________________________________________________
EACH (7) SOLE DISPOSITIVE POWER
0
REPORTING ______________________________________________________________
PERSON WITH (8) SHARED DISPOSITIVE POWER
859,500
- -----------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
- -----------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES**
[ ]
- -----------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
2.15%
- -----------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON ** OO
- -----------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. Y62196103 13G/A Page 14 of 29 Pages
- -------------------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
SATELLITE ADVISORS, L.L.C.
- -----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
- -----------------------------------------------------------------------------
(3) SEC USE ONLY
- -----------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
- -----------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
0
SHARES ______________________________________________________________
BENEFICIALLY (6) SHARED VOTING POWER
85,700
OWNED BY ______________________________________________________________
EACH (7) SOLE DISPOSITIVE POWER
0
REPORTING ______________________________________________________________
PERSON WITH (8) SHARED DISPOSITIVE POWER
85,700
- -----------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
- -----------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES**
[ ]
- -----------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.21%
- -----------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
OO
- -----------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. Y62196103 13G/A Page 15 of 29 Pages
- -------------------------------------------------------------------------------
Item 1(a). NAME OF ISSUER:
NAVIOS MARITIME HOLDINGS INC. (THE "ISSUER").
Item 1(b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
67 NOTARA STREET, PIRAEUS, GREECE
Item 2(a). NAME OF PERSON FILING:
This statement is filed by:
(i) Satellite Fund I, L.P. ("Satellite I");
(ii) Satellite Fund II, L.P. ("Satellite II");
(iii) Satellite Fund IV, L.P. ("Satellite IV");
(iv) Satellite Overseas Fund, Ltd. ("Satellite Overseas")
(v) The Apogee Fund, Ltd. (f/k/a Satellite Overseas Fund III, Ltd.)
("Apogee");
(vi) Satellite Overseas Fund V, Ltd. ("Satellite Overseas V");
(vii) Satellite Overseas Fund VI, Ltd. ("Satellite Overseas VI");
(viii) Satellite Overseas Fund VII, Ltd. ("Satellite Overseas VII");
(ix) Satellite Overseas Fund VIII, Ltd. ("Satellite Overseas VIII");
(x) Satellite Strategic Finance Partners, Ltd. ("SSFP");
(xi) Satellite Asset Management, L.P. ("Satellite Asset Management");
(xii) Satellite Fund Management LLC ("Satellite Fund Management"); and
(xiii) Satellite Advisors, L.L.C. ("Satellite Advisors").
This statement relates to Shares (as defined herein) held by (i) Satellite
I, Satellite II, Satellite IV (collectively, the "Delaware Funds") over which
Satellite Advisors has discretionary trading authority, as general partner, and
(ii) Satellite Overseas, Apogee, Satellite Overseas V, Satellite Overseas VI,
Satellite Overseas VII, Satellite Overseas VIII and SSFP (collectively, the
"Offshore Funds" and together with the Delaware Funds, the "Satellite Funds")
over which Satellite Asset Management has discretionary investment trading
authority. The general partner of Satellite Asset Management is Satellite Fund
Management. Satellite Fund Management and Satellite Advisors each share the same
four members that make investment decisions on behalf of the Satellite Funds and
investment decisions made by such members, when necessary, are made through
approval of a majority of such members.
The foregoing persons are hereinafter sometimes collectively referred to
as the "Reporting Persons." Any disclosures herein with respect to persons other
than the Reporting Persons are made on information and belief after making
inquiry to the appropriate party.
Item 2(b). ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE:
The address of the business office of each of the Reporting Persons is 623
Fifth Avenue, 19th Floor, New York, NY 10022.
CUSIP No. Y62196103 13G/A Page 16 of 29 Pages
- -------------------------------------------------------------------------------
Item 2(c). CITIZENSHIP:
1) Satellite I is a Delaware limited partnership;
2) Satellite II is a Delaware limited partnership;
3) Satellite IV is a Delaware limited partnership;
4) Satellite Overseas is a Cayman Islands exempted company;
5) Apogee is a Cayman Islands exempted company;
6) Satellite Overseas V is a Cayman Islands exempted company;
7) Satellite Overseas VI is a Cayman Islands exempted company;
8) Satellite Overseas VII is a Cayman Islands exempted company;
9) Satellite Overseas VIII is a Cayman Islands exempted company;
10) SSFP is a Cayman Islands exempted company;
11) Satellite Asset Management is a Delaware limited partnership;
12) Satellite Fund Management is a Delaware limited liability company; and
13) Satellite Advisors is a Delaware limited liability company.
Item 2(d). TITLE OF CLASS OF SECURITIES:
Common Stock, $.0001 par value per share (the "Shares").
Item 2(e). CUSIP NUMBER:
Y62196103
Item 3. IF THIS STATEMENT IS FILED PURSUANT TO RULES 13d-1(b) or 13d-2(b) OR
(c), CHECK WHETHER THE PERSON FILING IS A:
(a) [ ] Broker or dealer registered under Section 15 of the Act,
(b) [ ] Bank as defined in Section 3(a)(6) of the Act,
(c) [ ] Insurance Company as defined in Section 3(a)(19) of the
Act,
(d) [ ] Investment Company registered under Section 8 of the
Investment Company Act of 1940,
(e) [ ] Investment Adviser in accordance with Rule
13d-1(b)(1)(ii)(E),
CUSIP No. Y62196103 13G/A Page 17 of 29 Pages
- -------------------------------------------------------------------------------
(f) [ ] Employee Benefit Plan or Endowment Fund in accordance
with 13d-1(b)(1)(ii)(F),
(g) [ ] Parent Holding Company or control person in accordance
with Rule 13d-1(b)(1)(ii)(G),
(h) [ ] Savings Association as defined in Section 3(b) of the
Federal Deposit Insurance Act,
(i) [ ] Church Plan that is excluded from the definition of an
investment company under Section 3(c)(14) of the Investment
Company Act of 1940,
(j) [ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(J).
If this statement is filed pursuant to 13d-1(c), check this box: [X]
CUSIP No. Y62196103 13G/A Page 18 of 29 Pages
- -------------------------------------------------------------------------------
Item 4. OWNERSHIP.
The percentages used herein and in the rest of Item 4 are calculated based
upon the 39,900,000 shares of Common Stock issued and outstanding as of December
15, 2005 as reported in the Issuer's Form F-1/A filed on December 15, 2005.
Satellite Fund I, L.P.
--------------------------
(a) Amount beneficially owned: 10,620
(b) Percent of class: 0.03%
(c) Number of shares as to which the person has:
(i) Sole power to vote or direct the vote 0
(ii) Shared power to vote or to direct the vote 10,620
(iii) Sole power to dispose or to direct the
disposition of 0
(iv) Shared power to dispose or to direct the
disposition of 10,620
Satellite Fund II, L.P.
--------------------------
(a) Amount beneficially owned: 0
(b) Percent of class: 0.14%
(c) Number of shares as to which the person has:
(i) Sole power to vote or direct the vote 0
(ii) Shared power to vote or to direct the vote 56,730
(iii) Sole power to dispose or to direct the
disposition of 0
(iv) Shared power to dispose or to direct the
disposition of 56,730
Satellite Fund IV, L.P.
------------------------------
(a) Amount beneficially owned: 18,350
(b) Percent of class: 0.05%
(c) Number of shares as to which the person has:
(i) Sole power to vote or direct the vote
(ii) Shared power to vote or to direct the vote 18,350
(iii) Sole power to dispose or to direct the
disposition of 0
(iv) Shared power to dispose or to direct the
disposition of 18,350
CUSIP No. Y62196103 13G/A Page 19 of 29 Pages
- -------------------------------------------------------------------------------
Satellite Overseas Fund, Ltd.
------------------------------
(a) Amount beneficially owned: 149,760
(b) Percent of class: 0.38%
(c) Number of shares as to which the person has:
(i) Sole power to vote or direct the vote 0
(ii) Shared power to vote or to direct the vote 149,760
(iii) Sole power to dispose or to direct the
disposition of 0
(iv) Shared power to dispose or to direct the
disposition of 149,760
The Apogee Fund, Ltd. (f/k/a Satellite Overseas Fund III, Ltd.)
------------------------------
(a) Amount beneficially owned: 46,140
(b) Percent of class: 0.12%
(c) Number of shares as to which the person has:
(i) Sole power to vote or direct the vote 0
(ii) Shared power to vote or to direct the vote 46,140
(iii) Sole power to dispose or to direct the
disposition of 0
(iv) Shared power to dispose or to direct the
disposition of 46,140
Satellite Overseas Fund V, Ltd.
------------------------------
(a) Amount beneficially owned: 34,010
(b) Percent of class: 0.09%
(c) Number of shares as to which the person has:
(i) Sole power to vote or direct the vote 34,010
(ii) Shared power to vote or to direct the vote 0
(iii) Sole power to dispose or to direct the
disposition of 0
(iv) Shared power to dispose or to direct the
disposition of 34,010
CUSIP No. Y62196103 13G/A Page 20 of 29 Pages
- -------------------------------------------------------------------------------
Satellite Overseas Fund VI, Ltd.
--------------------------------
(a) Amount beneficially owned: 9,370
(b) Percent of class: 0.02%
(c) Number of shares as to which the person has:
(i) Sole power to vote or direct the vote 0
(ii) Shared power to vote or to direct the vote 9,370
(iii) Sole power to dispose or to direct the
disposition of 0
(iv) Shared power to dispose or to direct the
disposition of 9,370
Satellite Overseas Fund VII, Ltd.
---------------------------------
(a) Amount beneficially owned: 17,760
(b) Percent of class: 0.04%
(c) Number of shares as to which the person has:
(i) Sole power to vote or direct the vote 0
(ii) Shared power to vote or to direct the vote 17,760
(iii) Sole power to dispose or to direct the
disposition of 0
(iv) Shared power to dispose or to direct the
disposition of 17,760
Satellite Overseas Fund VIII, Ltd.
----------------------------------
(a) Amount beneficially owned: 28,690
(b) Percent of class: 0.07%
(c) Number of shares as to which the person has:
(i) Sole power to vote or direct the vote 0
(ii) Shared power to vote or to direct the vote 28,690
(iii) Sole power to dispose or to direct the
disposition of 0
(iv) Shared power to dispose or to direct the
disposition of 28,690
CUSIP No. Y62196103 13G/A Page 21 of 29 Pages
- -------------------------------------------------------------------------------
Satellite Strategic Finance Partners, Ltd.
------------------------------------------
(a) Amount beneficially owned: 488,070
(b) Percent of class: 1.22%
(c) Number of shares as to which the person has:
(i) Sole power to vote or direct the vote 0
(ii) Shared power to vote or to direct the vote 488,070
(iii) Sole power to dispose or to direct the
disposition of 0
(iv) Shared power to dispose or to direct the
disposition of 488,070
Satellite Asset Management, L.P.
---------------------------------
(a) Amount beneficially owned: 859,500
(b) Percent of class: 2.15%
(c) Number of shares as to which the person has:
(i) Sole power to vote or direct the vote 0
(ii) Shared power to vote or to direct the vote 859,500
(iii) Sole power to dispose or to direct the
disposition of 0
(iv) Shared power to dispose or to direct the
disposition of 859,500
Satellite Fund Management LLC
-----------------------------
(a) Amount beneficially owned: 0
(b) Percent of class: 2.15%
(c) Number of shares as to which the person has:
(i) Sole power to vote or direct the vote 0
(ii) Shared power to vote or to direct the vote 859,500
(iii) Sole power to dispose or to direct the
disposition of 0
(iv) Shared power to dispose or to direct the
disposition of 859,500
CUSIP No. Y62196103 13G/A Page 22 of 29 Pages
- -------------------------------------------------------------------------------
Satellite Advisors, L.L.C.
--------------------------
(a) Amount beneficially owned: 85,700
(b) Percent of class: 0.21%
(c) Number of shares as to which the person has:
(i) Sole power to vote or direct the vote 0
(ii) Shared power to vote or to direct the vote 85,700
(iii) Sole power to dispose or to direct the
disposition of 0
(iv) Shared power to dispose or to direct the
disposition of 85,700
Satellite Asset Management, Satellite Fund Management and Satellite
Advisors expressly declare that this filing shall not be construed as an
admission that each is, for the purposes of sections 13(d) or 13(g) of the Act,
the beneficial owner of any securities covered by this filing.
CUSIP No. Y62196103 13G/A Page 23 of 29 Pages
- -------------------------------------------------------------------------------
Item 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS.
IF THIS STATEMENT IS BEING FILED TO REPORT THE FACT THAT AS OF THE
DATE HEREOF THE REPORTING PERSON HAS CEASED TO BE THE BENEFICIAL
OWNER OF MORE THAN 5% OF THE CLASS OF SECURITIES, CHECK THE
FOLLOWING [X]
Item 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON.
This Item 6 is not applicable.
Item 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH
ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT
HOLDING COMPANY.
This Item 7 is not applicable.
Item 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP.
This Item 8 is not applicable.
Item 9. NOTICE OF DISSOLUTION OF GROUP.
This Item 9 is not applicable.
Item 10. CERTIFICATION.
Each of the Reporting Persons hereby makes the following
certification:
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were not acquired and are not held for
the purpose of or with the effect of changing or influencing the control of the
issuer of the securities and were not acquired and are not held in connection
with or as a participant in any transaction having that purpose or effect.
CUSIP No. Y62196103 13G/A Page 24 of 29 Pages
- -------------------------------------------------------------------------------
SIGNATURES
After reasonable inquiry and to the best of our knowledge and belief, the
undersigned certify that the information set forth in this statement is true,
complete and correct.
DATED: February 14, 2006 SATELLITE FUND I, L.P.
By: Satellite Advisors, L.L.C.,
as General Partner
By: /s/ Simon Raykher
------------------------
Name: Simon Raykher
Title: Attorney-in-Fact
DATED: February 14, 2006 SATELLITE FUND II, L.P.
By: Satellite Advisors, L.L.C.,
as General Partner
By: /s/ Simon Raykher
------------------------
Name: Simon Raykher
Title: Attorney-in-Fact
DATED: February 14, 2006 SATELLITE FUND IV, L.P.
By: Satellite Advisors, L.L.C.,
as General Partner
By: /s/ Simon Raykher
------------------------
Name: Simon Raykher
Title: Attorney-in-Fact
DATED: February 14, 2006 SATELLITE OVERSEAS FUND, LTD.
By: Satellite Asset Management L.P.,
as Investment Manager
By: /s/ Simon Raykher
------------------------
Name: Simon Raykher
Title: General Counsel
CUSIP No. Y62196103 13G/A Page 25 of 29 Pages
- -------------------------------------------------------------------------------
DATED: February 14, 2006 THE APOGEE FUND, LTD.
By: Satellite Asset Management L.P.,
as Investment Manager
By: /s/ Simon Raykher
------------------------
Name: Simon Raykher
Title: General Counsel
DATED: February 14, 2006 SATELLITE OVERSEAS FUND V, LTD.
By: Satellite Asset Management L.P.,
as Investment Manager
By: /s/ Simon Raykher
-----------------------
Name: Simon Raykher
Title: General Counsel
DATED: February 14, 2006 SATELLITE OVERSEAS FUND VI, LTD.
By: Satellite Asset Management L.P.,
as Investment Manager
By: /s/ Simon Raykher
------------------------
Name: Simon Raykher
Title: General Counsel
DATED: February 14, 2006 SATELLITE OVERSEAS FUND VII, LTD.
By: Satellite Asset Management L.P.,
as Investment Manager
By: /s/ Simon Raykher
------------------------
Name: Simon Raykher
Title: General Counsel
DATED: February 14, 2006 SATELLITE OVERSEAS FUND VIII, LTD.
By: Satellite Asset Management L.P.,
as Investment Manager
By: /s/ Simon Raykher
------------------------
Name: Simon Raykher
Title: General Counsel
CUSIP No. Y62196103 13G/A Page 26 of 29 Pages
- -------------------------------------------------------------------------------
DATED: February 14, 2006 SATELLITE STRATEGIC FINANCE PARTNERS, LTD.
By: Satellite Asset Management L.P.,
as Investment Manager
By: /s/ Simon Raykher
------------------------
Name: Simon Raykher
Title: General Counsel
DATED: February 14, 2006 SATELLITE ASSET MANAGEMENT, L.P.
By: /s/ Simon Raykher
------------------------
Name: Simon Raykher
Title: General Counsel
DATED: February 14, 2006 SATELLITE FUND MANAGEMENT LLC
By: /s/ Simon Raykher
------------------------
Name: Simon Raykher
Title: Attorney-in-Fact
DATED: February 14, 2006 SATELLITE ADVISORS, L.L.C.
By: /s/ Simon Raykher
------------------------
Name: Simon Raykher
Title: Attorney-in-Fact
CUSIP No. Y62196103 13G/A Page 27 of 29 Pages
- -------------------------------------------------------------------------------
EXHIBIT A
JOINT FILING AGREEMENT
The undersigned hereby agree that this statement on Schedule 13G
with respect to the Common Stock of Fortress America Acquisition Corporation,
dated as of February 14, 2006, is, and any amendments thereto (including
amendments on Schedule 13G) signed by each of the undersigned shall be, filed on
behalf of each of us pursuant to and in accordance with the provisions of Rule
13d-1(k) under the Securities Exchange Act of 1934.
DATED: February 14, 2006 SATELLITE FUND I, L.P.
By: Satellite Advisors, L.L.C.,
as General Partner
By: /s/ Simon Raykher
------------------------
Name: Simon Raykher
Title: Attorney-in-Fact
DATED: February 14, 2006 SATELLITE FUND II, L.P.
By: Satellite Advisors, L.L.C.,
as General Partner
By: /s/ Simon Raykher
------------------------
Name: Simon Raykher
Title: Attorney-in-Fact
DATED: February 14, 2006 SATELLITE FUND IV, L.P.
By: Satellite Advisors, L.L.C.,
as General Partner
By: /s/ Simon Raykher
------------------------
Name: Simon Raykher
Title: Attorney-in-Fact
DATED: February 14, 2006 SATELLITE OVERSEAS FUND, LTD.
By: Satellite Asset Management L.P.,
as Investment Manager
By: /s/ Simon Raykher
------------------------
Name: Simon Raykher
Title: General Counsel
CUSIP No. Y62196103 13G/A Page 28 of 29 Pages
- -------------------------------------------------------------------------------
DATED: February 14, 2006 THE APOGEE FUND, LTD.
By: Satellite Asset Management L.P.,
as Investment Manager
By: /s/ Simon Raykher
------------------------
Name: Simon Raykher
Title: General Counsel
DATED: February 14, 2006 SATELLITE OVERSEAS FUND V, LTD.
By: Satellite Asset Management L.P.,
as Investment Manager
By: /s/ Simon Raykher
------------------------
Name: Simon Raykher
Title: General Counsel
DATED: February 14, 2006 SATELLITE OVERSEAS FUND VI, LTD.
By: Satellite Asset Management L.P.,
as Investment Manager
By: /s/ Simon Raykher
------------------------
Name: Simon Raykher
Title: General Counsel
DATED: February 14, 2006 SATELLITE OVERSEAS FUND VII, LTD.
By: Satellite Asset Management L.P.,
as Investment Manager
By: /s/ Simon Raykher
------------------------
Name: Simon Raykher
Title: General Counsel
DATED: February 14, 2006 SATELLITE OVERSEAS FUND VIII, LTD.
By: Satellite Asset Management L.P.,
as Investment Manager
By: /s/ Simon Raykher
------------------------
Name: Simon Raykher
Title: General Counsel
CUSIP No. Y62196103 13G/A Page 29 of 29 Pages
- -------------------------------------------------------------------------------
DATED: February 14, 2006 SATELLITE STRATEGIC FINANCE PARTNERS, LTD.
By: Satellite Asset Management L.P.,
as Investment Manager
By: /s/ Simon Raykher
------------------------
Name: Simon Raykher
Title: General Counsel
DATED: February 14, 2006 SATELLITE ASSET MANAGEMENT, L.P.
By: /s/ Simon Raykher
------------------------
Name: Simon Raykher
Title: General Counsel
DATED: February 14, 2006 SATELLITE FUND MANAGEMENT LLC
By: /s/ Simon Raykher
------------------------
Name: Simon Raykher
Title: Attorney-in-Fact
DATED: February 14, 2006 SATELLITE ADVISORS, L.L.C.
By: /s/ Simon Raykher
------------------------
Name: Simon Raykher
Title: Attorney-in-Fact