UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 3)*

 

 

 

Destination Maternity Corporation

(Name of Issuer)

 

 

 

Common Stock, par value $.01 per share

(Title of Class of Securities)

 

25065D100

(CUSIP Number)

 

Mill Road Capital, L.P. Attn: Thomas E. Lynch 382 Greenwich Avenue Suite One Greenwich, CT 06830 203-987-3500   With a copy to:   Peter M. Rosenblum, Esq. Foley Hoag LLP 155 Seaport Blvd. Boston, MA 02210 617-832-1151

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

 

March 18, 2011

(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 §§240.13d-1(e), 240.13d-1(f) or 240.13d-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 §240.13d-7 for other parties to whom copies are 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 (“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).

 

 

 

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CUSIP No. 25065D100		13D		Page 2 of 8 Pages

 

1.		Names of Reporting Persons.   Thomas E. Lynch
2.		Check the Appropriate Box if a Member of a Group (See Instructions) (a)  ¨        (b)  ¨
3.		SEC Use Only
4.		Source of Funds (See Instructions)        OO
5.		Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)  ¨
6.		Citizenship or Place of Organization       USA
Number of  Shares  Beneficially  Owned by  Each  Reporting  Person  With				7.		Sole Voting Power
				8.		Shared Voting Power       1,611,171
				9.		Sole Dispositive Power
				10.		Shared Dispositive Power       1,611,171
11.		Aggregate Amount Beneficially Owned by Each Reporting Person       1,611,171
12.		Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)  ¨
13.		Percent of Class Represented by Amount in Row (11)       12.4%
14.		Type of Reporting Person (See Instructions)       HC; IN

 

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CUSIP No. 25065D100		13D		Page 3 of 8 Pages

 

1.		Names of Reporting Persons.   Scott P. Scharfman
2.		Check the Appropriate Box if a Member of a Group (See Instructions) (a)  ¨        (b)  ¨
3.		SEC Use Only
4.		Source of Funds (See Instructions)        OO
5.		Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)  ¨
6.		Citizenship or Place of Organization       USA
Number of  Shares  Beneficially  Owned by  Each  Reporting  Person  With				7.		Sole Voting Power
				8.		Shared Voting Power       1,611,171
				9.		Sole Dispositive Power
				10.		Shared Dispositive Power       1,611,171
11.		Aggregate Amount Beneficially Owned by Each Reporting Person       1,611,171
12.		Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)  ¨
13.		Percent of Class Represented by Amount in Row (11)       12.4%
14.		Type of Reporting Person (See Instructions)       HC; IN

 

 

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CUSIP No. 25065D100		13D		Page 4 of 8 Pages

 

1.		Names of Reporting Persons   Mill Road Capital GP LLC
2.		Check the Appropriate Box if a Member of a Group (See Instructions) (a)  ¨        (b)  ¨
3.		SEC Use Only
4.		Source of Funds (See Instructions)        OO
5.		Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)  ¨
6.		Citizenship or Place of Organization       Delaware
Number of  Shares  Beneficially  Owned by  Each  Reporting  Person  With				7.		Sole Voting Power       1,611,171
				8.		Shared Voting Power
				9.		Sole Dispositive Power       1,611,171
				10.		Shared Dispositive Power
11.		Aggregate Amount Beneficially Owned by Each Reporting Person       1,611,171
12.		Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)  ¨
13.		Percent of Class Represented by Amount in Row (11)       12.4%
14.		Type of Reporting Person (See Instructions)       HC; OO

 

 

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CUSIP No. 25065D100		13D		Page 5 of 8 Pages

 

1.		Names of Reporting Persons.   Mill Road Capital, L.P.
2.		Check the Appropriate Box if a Member of a Group (See Instructions) (a)  ¨        (b)  ¨
3.		SEC Use Only
4.		Source of Funds (See Instructions)       WC
5.		Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e)  ¨
6.		Citizenship or Place of Organization       Delaware
Number of  Shares  Beneficially  Owned by  Each  Reporting  Person  With				7.		Sole Voting Power       1,611,171
				8.		Shared Voting Power
				9.		Sole Dispositive Power       1,611,171
				10.		Shared Dispositive Power
11.		Aggregate Amount Beneficially Owned by Each Reporting Person       1,611,171
12.		Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)  ¨
13.		Percent of Class Represented by Amount in Row (11)       12.4%
14.		Type of Reporting Person (See Instructions)       PN

 

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CUSIP No. 25065D100		Page 6 of 8 Pages

 

This Amendment No. 3 to the joint statement on Schedule 13D filed by the undersigned on May 21, 2008, with respect to the common stock, par value $.01 per share, of Destination Maternity Corporation, a Delaware corporation (the “Initial Filing”), as amended by Amendment No. 1 on Schedule 13D filed by the undersigned on September 25, 2008, and as amended by Amendment No. 2 on Schedule 13D filed by the undersigned on June 24, 2010 (the Initial Filing, as so amended, the “Schedule 13D”), amends the Schedule 13D as follows:

1. Item 3 of the Schedule 13D shall hereby be amended and restated in full as follows:

“Item 3. Source and Amount of Funds or Other Consideration

The Reporting Persons acquired beneficial ownership of an aggregate of 1,611,171 shares of Common Stock for $13,450,901.57 using working capital from the Fund and the proceeds of margin loans under margin loan facilities maintained in the ordinary course of business by the Fund with a broker on customary terms and conditions.”

2. Items 5(a) and 5(b) of the Schedule 13D shall hereby be amended and restated in full as follows:

“(a,b) The percentages of beneficial ownership reported in this Item 5, and on each Reporting Person’s cover page to this Schedule 13D, are based on a total of 12,980,576 shares of the Common Stock issued and outstanding as of February 3, 2011, as reported in the most recent quarterly report of the Issuer on Form 10-Q for the fiscal quarter ended December 31, 2010, and as adjusted to reflect the two-for-one split of the Common Stock on March 1, 2011. All of the share numbers reported below, and on each Reporting Person’s cover page to the Schedule 13D, are as of March 21, 2011, unless otherwise indicated. The cover page to this Schedule 13D for each Reporting Person is incorporated by reference in its entirety into this Item 5(a, b).

The Fund directly holds, and thus has sole voting and dispositive power over, 1,611,171 shares of Common Stock. The GP, as sole general partner of the Fund, also has sole voting and dispositive power over these shares and each of Messrs. Lynch and Scharfman has the shared authority to vote and dispose of these shares on behalf of the Fund. Accordingly, each of the Reporting Persons beneficially owns 1,611,171 shares of Common Stock, or approximately 12.4% of the outstanding shares of Common Stock, and the Reporting Persons beneficially own, in the aggregate, 1,611,171 shares of Common Stock, or approximately 12.4% of the outstanding shares of Common Stock.

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CUSIP No. 25065D100		Page 7 of 8 Pages

 

3. Item 5(c) of the Schedule 13D shall hereby be amended and restated in full as follows:

“(c) No Reporting Person, other than the Fund as set forth in the table below, effected any transaction in shares of the Common Stock from January 20, 2011 (the date 60 days prior to the filing of Amendment No. 3 to this Schedule 13D) to March 21, 2011:

 

Date of Purchase / Sale		Shares Purchased  / (Sold)				Avg. Purchase Price per Share ($)
3/16/2011			(121,300	)		$	22.8772
3/17/2011			(13,400	)		$	22.5364
3/18/2011			(21,915	)		$	22.5179

Each of the above listed transactions was conducted in the ordinary course of business on the open market for cash. Purchases and sales, respectively, have been aggregated daily, and purchase and sale prices do not reflect brokerage commissions paid.”

4. Except as expressly modified hereby, all provisions of the Schedule 13D shall continue in full force and effect.

[signature pages follow]

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CUSIP No. 25065D100		Page 8 of 8 Pages

 

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.