UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D/A
Under the Securities Exchange Act of 1934
(Amendment No. 2)
GSI Group Inc.
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(Name of Issuer)
Common Stock, no par value
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(Title of Class of Securities)
36229U102
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(CUSIP Number)
Tennenbaum Capital Partners, LLC
2951 28th Street, Suite 1000
Santa Monica, California 90405
(310) 566-1000
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(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
February 26, 2010
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(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition that is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box
[ ].
Note: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See Rule 13d-7 for other parties
to whom copies are to be sent.
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* The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
(Continued on following pages)
(Page 1 of 4 Pages)
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CUSIP No. 36229U102 SCHEDULE 13D/A Page 2 of 4 Pages
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1 NAME OF REPORTING PERSON
Tennenbaum Capital Partners, LLC (1)
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_| (b) |X|
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
AF
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5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) |_|
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF 7 SOLE VOTING POWER
SHARES 1,325,135 shares
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BENEFICIALLY 8 SHARED VOTING POWER
OWNED 0
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BY EACH 9 SOLE DISPOSITIVE POWER
REPORTING 1,325,135 shares
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PERSON 10 SHARED DISPOSITIVE POWER
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,325,135 shares
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12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES |_|
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
2.8% (2)
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14 TYPE OF REPORTING PERSON
IA, OO
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(1) Tennenbaum Capital Partners, LLC serves as investment advisor to, INTER
ALIA, Special Value Opportunities Fund, LLC, a Delaware limited liability
company ("SVOF"), Special Value Expansion Fund, LLC, a Delaware limited
liability company ("SVEF"), Special Value Continuation Partners, LP, a Delaware
limited partnership ("SVCP"), and Tennenbaum Opportunities Partners V, LP, a
Delaware limited partnership ("TOP V"), which are the registered holders of
shares of Common Stock of GSI Group Inc. beneficially owned by Tennenbaum
Capital Partners, LLC.
(2) Based on 47,591,899 shares of Common Stock of GSI Group Inc. outstanding as
set forth by GSI Group Inc. in its Rule 424(b)(3) Prospectus filed with the
Securities and Exchange Commission on October 23, 2008.
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CUSIP No. 36229U102 SCHEDULE 13D/A Page 3 of 4 Pages
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ITEM 1. SECURITY AND ISSUER
This Amendment No. 2 (the "Amendment") amends the statement on Schedule 13D
filed on July 9, 2009 (the "Original Schedule 13D", as amended hereby and by
Amendment No. 1 filed on November 20, 2009, the "Schedule 13D") with respect to
the common stock, no par value (the "Common Stock"), of GSI Group Inc., a
company continued and existing under the laws of the Province of New Brunswick,
Canada (the "Issuer"). Capitalized terms used herein and not otherwise defined
in this Amendment have the meanings set forth in the Original Schedule 13D and
Amendment No. 1. This Amendment amends Item 4 as set forth below.
ITEM 4. PURPOSE OF TRANSACTION
Item 4 of the Schedule 13D is hereby amended and supplemented by the addition of
the following:
As previously disclosed, the Reporting Person continues to have discussions
with the Issuer and other shareholders regarding the Reporting Person's
investment and implementation of the Plan. In furtherance of this, the Reporting
Person has entered into discussions with the Issuer and members of the Equity
Committee regarding the Plan and possible modifications to the Plan, including,
without limitation, exchanging the Notes for any combination of one or more of
the following: new secured debt, notes convertible into common stock of the
reorganized issues, preferred stock convertible into common stock of the
reorganized issues, common stock of the reorganized issues and/or cash. The
Reporting Person is unsure about the ultimate outcome of such discussions or the
timing of coming to agreement.
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CUSIP No. 36229U102 SCHEDULE 13D/A Page 4 of 4 Pages
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Signature
After reasonable inquiry and to the best of such Reporting Person's
knowledge and belief, the undersigned certifies that the information set forth
in this statement is true, complete and correct.
Dated: March 3, 2010
TENNENBAUM CAPITAL PARTNERS, LLC,
a Delaware limited liability company
By: /s/ Elizabeth Greenwood
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Name: Elizabeth Greenwood
Title: General Counsel & Chief Compliance Officer