UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
----------------------
SCHEDULE 13G/A
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
Arotech Corporation
(Name of Issuer)
Common Stock, $0.01 par value
(Title of Class of Securities)
042682203
(CUSIP Number)
December 31, 2006
(Date of event which requires filing of this statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule 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 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).
Page 1 of 15
CUSIP No. 042682203 13G/A Page 2 of 15 Pages
--------------------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Smithfield Fiduciary LLC
--------------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
--------------------------------------------------------------------------------
(3) SEC USE ONLY
--------------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands, British West Indies
--------------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
0
SHARES -----------------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
Warrants to purchase 310,790 shares of Common Stock
OWNED BY -----------------------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER
0
REPORTING -----------------------------------------------------------------
PERSON WITH (8) SHARED DISPOSITIVE POWER
Warrants to purchase 310,790 shares of Common Stock
--------------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
Warrants to purchase 310,790 shares of Common Stock
--------------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES **
[ ]
--------------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
2.84%
--------------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
OO
--------------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 042682203 13G/A Page 3 of 15 Pages
--------------------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Highbridge International LLC
--------------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
--------------------------------------------------------------------------------
(3) SEC USE ONLY
--------------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands, British West Indies
--------------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
0
SHARES -----------------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
Convertible Note convertible into 84,933 shares of Common
Stock
Warrants to purchase 310,790 shares of Common Stock
776 shares of Common Stock
OWNED BY -----------------------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER
0
REPORTING -----------------------------------------------------------------
PERSON WITH (8) SHARED DISPOSITIVE POWER
Convertible Note convertible into 84,933 shares of Common
Stock
Warrants to purchase 310,790 shares of Common Stock
776 shares of Common Stock
--------------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
Convertible Note convertible into 84,933 shares of Common Stock
Warrants to purchase 310,790 shares of Common Stock
776 shares of Common Stock
--------------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES **
[ ]
--------------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
3.59%
--------------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
OO
--------------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 042682203 13G/A Page 4 of 15 Pages
--------------------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Highbridge Capital Corporation
--------------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
--------------------------------------------------------------------------------
(3) SEC USE ONLY
--------------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands, British West Indies
--------------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
0
SHARES -----------------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
Convertible Note convertible into 84,933 shares of Common
Stock
Warrants to purchase 310,790 shares of Common Stock
776 shares of Common Stock
OWNED BY -----------------------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER
0
REPORTING -----------------------------------------------------------------
PERSON WITH (8) SHARED DISPOSITIVE POWER
Convertible Note convertible into 84,933 shares of Common
Stock
Warrants to purchase 310,790 shares of Common Stock
776 shares of Common Stock
--------------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
Convertible Note convertible into 84,933 shares of Common Stock
Warrants to purchase 310,790 shares of Common Stock
776 shares of Common Stock
--------------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES **
[ ]
--------------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
3.59%
--------------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
OO
--------------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 042682203 13G/A Page 5 of 15 Pages
--------------------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Highbridge Capital L.P.
--------------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
--------------------------------------------------------------------------------
(3) SEC USE ONLY
--------------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
State of Delaware
--------------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
0
SHARES -----------------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
Convertible Note convertible into 84,933 shares of Common
Stock
Warrants to purchase 310,790 shares of Common Stock
776 shares of Common Stock
OWNED BY -----------------------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER
0
REPORTING -----------------------------------------------------------------
PERSON WITH (8) SHARED DISPOSITIVE POWER
Convertible Note convertible into 84,933 shares of Common
Stock
Warrants to purchase 310,790 shares of Common Stock
776 shares of Common Stock
--------------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
Convertible Note convertible into 84,933 shares of Common Stock
Warrants to purchase 310,790 shares of Common Stock
776 shares of Common Stock
--------------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES **
[ ]
--------------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
3.59%
--------------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
PN
--------------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 042682203 13G/A Page 6 of 15 Pages
--------------------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Highbridge Master L.P.
--------------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
--------------------------------------------------------------------------------
(3) SEC USE ONLY
--------------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands, British West Indies
--------------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
0
SHARES -----------------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
Convertible Note convertible into 84,933 shares of Common
Stock
Warrants to purchase 310,790 shares of Common Stock
776 shares of Common Stock
OWNED BY -----------------------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER
0
REPORTING -----------------------------------------------------------------
PERSON WITH (8) SHARED DISPOSITIVE POWER
Convertible Note convertible into 84,933 shares of Common
Stock
Warrants to purchase 310,790 shares of Common Stock
776 shares of Common Stock
--------------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
Convertible Note convertible into 84,933 shares of Common Stock
Warrants to purchase 310,790 shares of Common Stock
776 shares of Common Stock
--------------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES **
[ ]
--------------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
3.59%
--------------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
PN
--------------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 042682203 13G/A Page 7 of 15 Pages
--------------------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Highbridge GP, Ltd.
--------------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
--------------------------------------------------------------------------------
(3) SEC USE ONLY
--------------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands, British West Indies
--------------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
0
SHARES -----------------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
Convertible Note convertible into 84,933 shares of Common
Stock
Warrants to purchase 310,790 shares of Common Stock
776 shares of Common Stock
OWNED BY -----------------------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER
0
REPORTING -----------------------------------------------------------------
PERSON WITH (8) SHARED DISPOSITIVE POWER
Convertible Note convertible into 84,933 shares of Common
Stock
Warrants to purchase 310,790 shares of Common Stock
776 shares of Common Stock
--------------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
Convertible Note convertible into 84,933 shares of Common Stock
Warrants to purchase 310,790 shares of Common Stock
776 shares of Common Stock
--------------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES **
[ ]
--------------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
3.59%
--------------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
OO
--------------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 042682203 13G/A Page 8 of 15 Pages
--------------------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Highbridge GP, LLC
--------------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
--------------------------------------------------------------------------------
(3) SEC USE ONLY
--------------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
State of Delaware
--------------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
0
SHARES -----------------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
Convertible Note convertible into 84,933 shares of Common
Stock
Warrants to purchase 310,790 shares of Common Stock
776 shares of Common Stock
OWNED BY -----------------------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER
0
REPORTING -----------------------------------------------------------------
PERSON WITH (8) SHARED DISPOSITIVE POWER
Convertible Note convertible into 84,933 shares of Common
Stock
Warrants to purchase 310,790 shares of Common Stock
776 shares of Common Stock
--------------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
Convertible Note convertible into 84,933 shares of Common Stock
Warrants to purchase 310,790 shares of Common Stock
776 shares of Common Stock
--------------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES **
[ ]
--------------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
3.59%
--------------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
OO
--------------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 042682203 13G/A Page 9 of 15 Pages
--------------------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Highbridge Capital Management, LLC 20-1901985
--------------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
--------------------------------------------------------------------------------
(3) SEC USE ONLY
--------------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
State of Delaware
--------------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
0
SHARES -----------------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
Convertible Note convertible into 84,933 shares of Common
Stock
Warrants to purchase 310,790 shares of Common Stock
776 shares of Common Stock
OWNED BY -----------------------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER
0
REPORTING -----------------------------------------------------------------
PERSON WITH (8) SHARED DISPOSITIVE POWER
Convertible Note convertible into 84,933 shares of Common
Stock
Warrants to purchase 310,790 shares of Common Stock
776 shares of Common Stock
--------------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
Convertible Note convertible into 84,933 shares of Common Stock
Warrants to purchase 310,790 shares of Common Stock
776 shares of Common Stock
--------------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES **
[ ]
--------------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
3.59%
--------------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
OO - Limited Liability Company
--------------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 042682203 13G/A Page 10 of 15 Pages
--------------------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Glenn Dubin
--------------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
--------------------------------------------------------------------------------
(3) SEC USE ONLY
--------------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
--------------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
0
SHARES -----------------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
Convertible Note convertible into 84,933 shares of Common
Stock
Warrants to purchase 310,790 shares of Common Stock
776 shares of Common Stock
OWNED BY -----------------------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER
0
REPORTING -----------------------------------------------------------------
PERSON WITH (8) SHARED DISPOSITIVE POWER
Convertible Note convertible into 84,933 shares of Common
Stock
Warrants to purchase 310,790 shares of Common Stock
776 shares of Common Stock
--------------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
Convertible Note convertible into 84,933 shares of Common Stock
Warrants to purchase 310,790 shares of Common Stock
776 shares of Common Stock
--------------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES **
[ ]
--------------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
3.59%
--------------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
IN
--------------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 042682203 13G/A Page 11 of 15 Pages
--------------------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Henry Swieca
--------------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
--------------------------------------------------------------------------------
(3) SEC USE ONLY
--------------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
--------------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
0
SHARES -----------------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
Convertible Note convertible into 84,933 shares of Common
Stock
Warrants to purchase 310,790 shares of Common Stock
776 shares of Common Stock
OWNED BY -----------------------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER
0
REPORTING -----------------------------------------------------------------
PERSON WITH (8) SHARED DISPOSITIVE POWER
Convertible Note convertible into 84,933 shares of Common
Stock
Warrants to purchase 310,790 shares of Common Stock
776 shares of Common Stock
--------------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
Convertible Note convertible into 84,933 shares of Common Stock
Warrants to purchase 310,790 shares of Common Stock
776 shares of Common Stock
--------------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES **
[ ]
--------------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
3.59%
--------------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
IN
--------------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 042682203 13G/A Page 12 of 15 Pages
This Amendment No. 1 (this "Amendment") amends the statement on
Schedule 13G filed on October 10, 2006 (as amended, the "Schedule 13G") with
respect to shares of Common Stock, par value $0.01 per share ("Common Stock") of
Arotech Corporation, a Delaware corporation (the "Company"). Capitalized terms
used herein and not otherwise defined in this Amendment have the meanings set
forth in the Schedule 13G. This Amendment amends and restates Items 4 and 5 in
their entirety as set forth below.
Item 4. Ownership
Provide the following information regarding the aggregate number and
percentage of the class of securities of the issuer identified in Item 1.
(a) Amount beneficially owned:
As of the date of this filing, (i) Smithfield Fiduciary LLC may
be deemed the beneficial owner of warrants to purchase 310,790 shares of Common
Stock and (ii) each of Highbridge International LLC, Highbridge Master L.P.,
Highbridge Capital Corporation, Highbridge Capital L.P., Highbridge GP, Ltd.,
Highbridge GP, LLC, Highbridge Capital Management, LLC, Glenn Dubin and Henry
Swieca (collectively, the "Reporting Persons") may be deemed the beneficial
owner of the warrants owned by Smithfield Fiduciary LLC, the Convertible Note
convertible into 84,933 shares of Common Stock issuable to Highbridge
International LLC and 776 shares of Common Stock issued to Highbridge
International LLC.
Smithfield Fiduciary LLC is a wholly-owned subsidiary of
Highbridge International LLC. Highbridge International LLC is a subsidiary of
Highbridge Master L.P. Highbridge Capital Corporation and Highbridge Capital
L.P. are limited partners of Highbridge Master L.P. Highbridge GP, Ltd. is the
General Partner of Highbridge Master L.P. Highbridge GP, LLC is the General
Partner of Highbridge Capital L.P. Highbridge Capital Management, LLC is the
trading manager of Smithfield Fiduciary LLC, Highbridge International LLC,
Highbridge Capital Corporation, Highbridge Capital L.P. and Highbridge Master
L.P. Glenn Dubin is a Co-Chief Executive Officer of Highbridge Capital
Management, LLC. Henry Swieca is a Co-Chief Executive Officer of Highbridge
Capital Management, LLC. The foregoing should not be construed in and of itself
as an admission by any Reporting Person as to beneficial ownership of Common
Stock owned by another Reporting Person. In addition, each of Highbridge Capital
Management, LLC, Highbridge GP, Ltd., Highbridge GP, LLC, Glenn Dubin and Henry
Swieca disclaims beneficial ownership of Common Stock owned by Smithfield
Fiduciary LLC and Highbridge International LLC.
(b) Percent of class:
Based upon the Issuer's Quarterly Report on Form 10-Q/A filed on
November 16, 2006, the Company had 10,641,894 shares of Common Stock outstanding
as of November 15, 2006. Therefore, based on the Company's outstanding Common
Stock and the common stock to be issued upon conversion of the Convertible Note
and upon exercise of the warrants, (i) Smithfield Fiduciary LLC may be deemed to
beneficially own 2.84% of the outstanding Common Stock of the Company and (ii)
each of the Reporting Persons may be deemed to beneficially own 3.59% of the
outstanding Common Stock of the Company. The foregoing should not be construed
in and of itself as an admission by Smithfield Fiduciary LLC or any Reporting
CUSIP No. 042682203 13G/A Page 13 of 15 Pages
Person as to beneficial ownership of Common Stock owned by another Reporting
Person.
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote
0
(ii) Shared power to vote or to direct the vote
See Item 4(a)
(iii) Sole power to dispose or to direct the disposition of
0
(iv) Shared power to dispose or to direct the disposition of
See Item 4(a)
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 five percent of the class of securities, check the following: [X]
CUSIP No. 042682203 13G/A Page 14 of 15 Pages
SIGNATURES
After reasonable inquiry and to the best of its knowledge and belief,
each of the undersigned certifies that the information with respect to it set
forth in this statement is true, complete, and correct.
Dated: February 14, 2007
SMITHFIELD FIDUCIARY LLC HIGHBRIDGE INTERNATIONAL LLC
By: Highbridge Capital Management, LLC By: Highbridge Capital Management, LLC
Its Trading Manager Its Trading Manager
By: /s/ Carolyn Rubin By: /s/ Carolyn Rubin
------------------------------- --------------------------------
Name: Carolyn Rubin Name: Carolyn Rubin
Title: Managing Director Title: Managing Director
HIGHBRIDGE CAPITAL CORPORATION HIGHBRIDGE CAPITAL L.P.
By: Highbridge Capital Management, LLC By: Highbridge GP, LLC
Its Trading Manager its General Partner
By: /s/ Carolyn Rubin
-------------------------------
Name: Carolyn Rubin
Title: Managing Director By: /s/ Clive Harris
--------------------------------
Name: Clive Harris
Title: Director
HIGHBRIDGE MASTER L.P. HIGHBRIDGE GP, LTD.
By: Highbridge GP, Ltd.
its General Partner
By: /s/ Clive Harris
--------------------------------
Name: Clive Harris
Title: Director
By: /s/ Clive Harris
-------------------------------
Name: Clive Harris
Title: Director
HIGHBRIDGE GP, LLC HIGHBRIDGE CAPITAL MANAGEMENT, LLC
By: /s/ Clive Harris
-------------------------------
Name: Clive Harris
Title: Director By: /s/ Carolyn Rubin
--------------------------------
Name: Carolyn Rubin
Title: Managing Director
CUSIP No. 042682203 13G/A Page 15 of 15 Pages
/s/ Glenn Dubin /s/ Henry Swieca
----------------------------------- --------------------------------
GLENN DUBIN HENRY SWIECA