SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
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)*
MOD-PAC CORP.
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(Name of Issuer)
Common Stock, par value $.01 per share
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(Title of Class of Securities)
607495108
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(CUSIP Number)
Osmium Partners, LLC
388 Market Street, Suite 920
San Francisco, CA 94111
Attention: John H. Lewis
Telephone: (415) 362-4485
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
December 29, 2006
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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 [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(b) 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 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.)
Page 1 of 8 pages
CUSIP No.: 607495108
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1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
John H. Lewis
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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
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEM 2(d) or 2(e)
[ ]
--------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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NUMBER OF 7 SOLE VOTING POWER 0
SHARES ---------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER 336,259
OWNED BY ---------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER 0
REPORTING ---------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER 336,259
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
336,259
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
12.2%
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14 TYPE OF REPORTING PERSON
IN
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Page 2 of 8 pages
CUSIP No.: 607495108
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Osmium Partners, 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
ITEM 2(d) or 2(e)
[ ]
--------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF 7 SOLE VOTING POWER 0
SHARES ---------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER 336,259
OWNED BY ---------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER 0
REPORTING ---------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER 336,259
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
336,259
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
12.2%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
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Page 3 of 8 pages
CUSIP No.: 607495108
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Osmium Capital, LP
--------------------------------------------------------------------------------
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
ITEM 2(d) or 2(e)
[ ]
--------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER 0
SHARES ---------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER 324,486
OWNED BY ---------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER 0
REPORTING ---------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER 324,486
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
324,486
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
11.8%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
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Page 4 of 8 pages
CUSIP No.: 607495108
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Osmium Spartan, LP
--------------------------------------------------------------------------------
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
ITEM 2(d) or 2(e)
[ ]
--------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER 0
SHARES ---------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER 9,600
OWNED BY ---------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER 0
REPORTING ---------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER 9,600
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
9,600
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.3%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
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Page 5 of 8 pages
Explanatory Note
This Amendment No. 1 ("Amendment No. 1") amends the Statement on Schedule 13D
filed on August 17, 2006 (the "Original Schedule 13D") by and on behalf of
Osmium Capital, LP, Osmium Capital II, LP, Osmium Spartan, LP, Osmium Partners,
LLC and John H. Lewis. On December 29, 2006, in connection with an internal
reorganization, Osmium Capital II, LP transferred all of its assets to Osmium
Capital, LP, including 79,868 shares of Common Stock for $11.00 per share.
Capitalized terms used but not defined in this Amendment No. 1 shall have the
meanings ascribed thereto in the Original Schedule 13D. Items 2 and 5 of the
Original Schedule 13D are hereby amended and restated in their entirety as
follows:
ITEM 2. Identity and Background.
(a)-(c) and (f) The names of the persons filing this statement on
Schedule 13D (the "Reporting Persons") are:
-Osmium Capital, LP, a Delaware limited partnership ("Fund I");
-Osmium Spartan, LP, a Delaware limited partnership ("Fund II");
-Osmium Partners, LLC, a Delaware limited liability company ("Osmium
Partners"); and
-John H. Lewis, a United States Citizen ("Lewis").
Osmium Partners serves as the general partner of Fund I and Fund II.
Mr. Lewis is the managing member of Osmium Partners.
Osmium Partners and Mr. Lewis may each be deemed to have voting and
dispositive power with respect to the shares of Common Stock held by Fund I and
Fund II.
The principal business of each of Fund I and Fund II is that of a
private investment vehicle engaged in investing and trading in a wide variety of
securities and financial instruments for its own account.
The principal business of Osmium Partners is providing investment
management services and serving as the general partner of Fund I and Fund II.
Osmium Partners also manages other accounts on a discretionary basis (the
"Accounts").
Mr. Lewis' principal occupation is serving as the managing member of
Osmium Partners.
(d)-(e) During the last five years, none of the Reporting Persons have
been (a) convicted in a criminal proceeding (excluding traffic violations or
similar misdemeanors) or (b) a party to a civil proceeding of a judicial or
administrative body of competent jurisdiction and as a result of such proceeding
was or is 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 violation with respect to such laws.
ITEM 5. Interest in Securities of the Issuer.
(a) The Reporting Persons beneficially own:
(i) Fund I beneficially owns 324,486 shares of Common
Stock representing 11.8% of all of the outstanding
shares of Common Stock.
(ii) Fund II beneficially owns 9,600 shares of Common
Stock representing 0.3% of all of the outstanding
shares of Common Stock.
Page 6 of 8 pages
(iii) The Accounts own 2,173 shares of Common Stock
representing less than 0.1% of all of the outstanding
shares of Common Stock.
(iv) Osmium Partners, as the general partner of Fund I and
Fund II and as the investment manager of the
Accounts, may be deemed to beneficially own the
336,259 shares of Common Stock held by them,
representing 12.2% of all of the outstanding shares
of Common Stock.
(v) Mr. Lewis may be deemed to be the beneficial owner of
the shares of Common Stock beneficially owned by
Osmium Partners.
(vi) Collectively, the Reporting Persons beneficially own
336,259 shares of Common Stock representing 12.2% of
all of the outstanding shares of Common Stock.
Each Reporting Person disclaims beneficial ownership with
respect to any shares of Common Stock other than the shares
owned directly and of record by such Reporting Person.
The percentages set forth in this response are based on the
2,749,375 shares of Common Stock outstanding as of October 30,
2006, as reported by the Issuer in its Quarterly Report on
Form 10-Q for the quarterly period ended September 30, 2006.
(b) Osmium Partners, Fund I and Mr. Lewis have shared power to
vote or direct the vote of and to dispose or direct the disposition of the
324,486 shares of Common Stock held by Fund I.
Osmium Partners, Fund II and Mr. Lewis have shared power to vote or
direct the vote of and to dispose or direct the disposition of the 9,600 shares
of Common Stock held by Fund II.
Osmium Partners and Mr. Lewis have shared power to vote or direct the
vote of and to dispose or direct the disposition of the 2,173 shares of Common
Stock held by the Accounts.
(c) Except as described in the Explanatory Note, no transactions
in the Common Stock were effected by the Reporting Persons in the last sixty
(60) days.
(d) Not applicable.
(e) Not applicable.
Page 7 of 8 pages
SIGNATURE
After reasonable inquiry and to the best of its knowledge and belief,
the undersigned each certifies that the information with respect to it set forth
in this Amendment No. 1 is true, complete and correct.
Dated: January 10, 2007
/s/ JOHN H. LEWIS
-----------------------------------------
John H. Lewis
Osmium Partners, LLC
By: /s/ JOHN H. LEWIS
-------------------------------------
John H. Lewis, Managing Member
Osmium Capital, LP
By: Osmium Partners, LLC, its general partner
By: /s/ JOHN H. LEWIS
-------------------------------------
John H. Lewis, Managing Member
Osmium Spartan, LP
By: Osmium Partners, LLC, its general partner
By: /s/ JOHN H. LEWIS
-------------------------------------
John H. Lewis, Managing Member
Page 8 of 8 pages