SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
(RULE 13d-2-101)
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. 4)(1)
SILICON STORAGE TECHNOLOGY, INC.
(Name of Issuer)
COMMON STOCK
(Title of Class of Securities)
827057100
(CUSIP Number)
RILEY INVESTMENT MANAGEMENT LLC
ATTN: BRYANT R. RILEY
11100 SANTA MONICA BLVD.
SUITE 810
LOS ANGELES, CA 90025
(310) 966-1445
(Name, Address and Telephone Number of Person Authorized to Receive Notices
and Communications)
June 27, 2008
(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: [ ]
Note: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See Rule 13d-7(b) for other
parties to whom copies are to be sent.
(Continued on following 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 ("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).
CUSIP No. 827057100 13D Page 2
--------- ----------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR IRS. IDENTIFICATION NO. OF ABOVE PERSON
Riley Investment Partners Master Fund, L.P.
--------- ----------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
--------- ----------------------------------------------------------------------
3 SEC USE ONLY
--------- ----------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
--------- ----------------------------------------------------------------------
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 631,396
------ --------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY -0-
------ --------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 631,396
------ --------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH -0-
---------------------- ------ --------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
631,396
--------- ----------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES SHARES*
[ ]
--------- ----------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
.6%(1)
--------- ----------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
--------- ----------------------------------------------------------------------
------------------------
(1) Based on 102,204,557 shares of common stock of Silicon Storage Technology,
Inc. (the "Issuer") outstanding at May 2, 2008, as reported in the Issuer's
Quarterly Report on Form 10-Q for the quarter ended March 31, 2008 filed with
the Securities and Exchange Commission on May 12, 2008.
CUSIP No. 827057100 13D Page 3
--------- ----------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR IRS. IDENTIFICATION NO. OF ABOVE PERSON
Riley Investment Management LLC
--------- ----------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
--------- ----------------------------------------------------------------------
3 SEC USE ONLY
--------- ----------------------------------------------------------------------
4 SOURCE OF FUNDS*
AF
--------- ----------------------------------------------------------------------
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 1,391,070(2)
------ --------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 4,315,550(3)
------ --------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 1,391,070(2)
------ --------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH 4,315,550(3)
---------------------- ------ --------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,196,744(3)
--------- ----------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES SHARES*
[x]
--------- ----------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.1%(1)
--------- ----------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IA
--------- ----------------------------------------------------------------------
------------------------
(2) Because Riley Investment Management LLC has sole investment and voting power
over 631,396 shares of Common Stock held by Riley Investment Partners Master
Fund, L.P. and 759,674 shares held by its investment advisory clients, Riley
Investment Management LLC may be deemed to have beneficial ownership of these
shares.
(3) Riley Investment Management LLC has shared voting and dispositive power over
4,315,550 shares of Common Stock held in accounts of its investment advisory
clients, 3,805,674 of which are held in accounts indirectly affiliated with Mr.
Riley or Riley Investment Partners Master Fund, L.P. Riley Investment Management
LLC disclaims beneficial ownership of the non-affiliated shares.
CUSIP No. 827057100 13D Page 4
--------- ----------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR IRS. IDENTIFICATION NO. OF ABOVE PERSON
B. Riley & Co. Retirement Trust
--------- ----------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
--------- ----------------------------------------------------------------------
3 SEC USE ONLY
--------- ----------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
--------- ----------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e)
[ ]
--------- ----------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
California
---------------------- ------ --------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 50,000
------ --------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY -0-
------ --------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 50,000
------ --------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH -0-
---------------------- ------ --------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
50,000
--------- ----------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES SHARES*
[ ]
--------- ----------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
.1%(1)
--------- ----------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
--------- ----------------------------------------------------------------------
CUSIP No. 827057100 13D Page 5
-------- -----------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR IRS. IDENTIFICATION NO. OF ABOVE PERSON
B. Riley & Co., LLC
-------- -----------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
-------- -----------------------------------------------------------------------
3 SEC USE ONLY
-------- -----------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
-------- -----------------------------------------------------------------------
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 63,786
------ --------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 480,088(4)
------ --------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 63,786
------ --------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH 480,088(4)
---------------------- ------ --------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
543,874
--------- ----------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES SHARES* [ ]
--------- ----------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
.5%(1)
--------- ----------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
BD
--------- ----------------------------------------------------------------------
------------------------
(4) B. Riley & Co., LLC has shared voting and dispositive power over 480,088
shares of Common Stock held by a managed account, with which it is indirectly
affiliated.
CUSIP No. 827057100 13D Page 6
--------- ----------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR IRS. IDENTIFICATION NO. OF ABOVE PERSON
Bryant R. Riley
--------- ----------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
--------- ----------------------------------------------------------------------
3 SEC USE ONLY
--------- ----------------------------------------------------------------------
4 SOURCE OF FUNDS*
AF, WC
--------- ----------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e)
[ ]
--------- ----------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
---------------------- ------ --------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 1,512,856(5)
------ --------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 4,795,638(6)
------ --------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 1,512,856(5)
------ --------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH 4,795,638(6)
---------------------- ------ --------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,798,618(6)
--------- ----------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES SHARES*
[x]
--------- ----------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.7%(1)
--------- ----------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
--------- ----------------------------------------------------------------------
------------------------
(5) Because Riley Investment Management LLC has sole voting and investment power
over security holdings of Riley Investment Partners Master Fund, L.P.'s and
certain managed accounts of its investment advisory clients and Mr. Riley, in
his role as the sole manager of Riley Investment Management LLC, controls its
voting and investment decisions, each of Riley Investment Management LLC and Mr.
Riley may be deemed to have beneficial ownership of the 631,396 shares of Common
Stock held by Riley Investment Partners Master Fund, L.P. and 759,674 shares
held in managed accounts by its investment advisory clients. Includes 50,000
shares held by the B. Riley & Co. Retirement Trust, of which Mr. Riley is the
trustee. Includes 63,786 shares held by B. Riley & Co., LLC over which Mr. Riley
has sole voting and dispositive power. Includes 8,000 shares held by Mr. Riley's
children.
(6) Riley Investment Management LLC has shared voting and dispositive power over
4,315,550 shares of Common Stock held in accounts of its investment advisory
clients, 3,805,674 of which are held in accounts indirectly affiliated with Mr.
Riley or Riley Investment Partners Master Fund, L.P. Mr. Riley disclaims
beneficial ownership of the non-affiliated shares. B. Riley & Co., LLC Inc. has
shared voting and dispositive power over 480,088 shares of Common Stock held by
a managed account, with which it is indirectly affiliated. Mr. Riley is the
Chairman of B. Riley & Co., LLC.
CUSIP No. 827057100 13D Page 7
ITEM 4. PURPOSE OF THE TRANSACTION
Item 4 here is hereby amended to add the following:
On June 27, 2008, Bryant Riley was elected to the Issuer's
Board of Directors at the Issuer's 2008 annual meeting.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
(c) In the ordinary course of business, BRC may effect
transactions in connection with its ordinary course market
making activities, as well as for customer transactions. On
June 4, 2008, a managed account sold 175,000 shares to an
investment advisory client at a per share price of $3.12. The
following are the other transactions effected by the Reporting
Persons in Common Stock that have taken place in the past 60
Days through June 29, 2008:
TRANS
MASTER FUND CODE QUANTITY PRICE TRADE DATE
BY 32,200 2.9098 6/24/2008
BY 4,670 2.91 6/25/2008
CUSIP No. 827057100 13D Page 8
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.
Date: June 30, 2008
Riley Investment Partners Master Fund, L.P.
By: Riley Investment Management LLC,
its General Partner
By: /s/ Bryant R. Riley
---------------------------------------
Bryant R. Riley, Managing Member
Riley Investment Management LLC
By: /s/ Bryant R. Riley
---------------------------------------
Bryant R. Riley, Managing Member
B. Riley & Co. Retirement Trust
By: /s/ Bryant R. Riley
---------------------------------------
Bryant R. Riley, Trustee
B. Riley & Co., LLC
By: s/ Bryant R. Riley
---------------------------------------
Bryant R. Riley, Chairman
By: /s/ Bryant R. Riley
---------------------------------------
Bryant R. Riley