UNITED STATES
SECURITIES & EXCHANGE COMMISSION
Washington, D.C. 20549
----------------------
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. __)*
TechTeam Global, Inc.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
87831110-9
(CUSIP Number)
March 30, 2006
(Date of event which requires filing of this statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule 13G 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 purposes 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. 87831110-9 13G Page 2 of 20 Pages
(1) NAMES OF REPORTING PERSONS I.R.S.
IDENTIFICATION NO. OF ABOVE PERSONS
Ramius Capital Group, L.L.C. 13-3937658
--------------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
--------------------------------------------------------------------------------
(3) SEC USE ONLY
--------------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
992,887
SHARES -----------------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
0
OWNED BY -----------------------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER
992,887
REPORTING -----------------------------------------------------------------
PERSON WITH (8) SHARED DISPOSITIVE POWER
0
--------------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
992,887
--------------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUN
IN ROW (9) EXCLUDES CERTAIN SHARES **
[ ]
--------------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
9.90%
--------------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
IA, OO
--------------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 87831110-9 13G Page 3 of 20 Pages
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
RCG Ambrose Master Fund, 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
--------------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
125,178
SHARES -----------------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
0
OWNED BY -----------------------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER
125,178
REPORTING -----------------------------------------------------------------
PERSON WITH (8) SHARED DISPOSITIVE POWER
0
--------------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
125,178
--------------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES **
[ ]
--------------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
1.25%
--------------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
CO
--------------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 87831110-9 13G Page 4 of 20 Pages
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
RCG Halifax Fund, 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
--------------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
126,493
SHARES -----------------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
0
OWNED BY -----------------------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER
126,493
REPORTING -----------------------------------------------------------------
PERSON WITH (8) SHARED DISPOSITIVE POWER
0
--------------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
126,493
--------------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES **
[ ]
--------------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
1.26%
--------------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
CO
--------------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 87831110-9 13G Page 5 of 20 Pages
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Ramius Master Fund, 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
--------------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
530,093
SHARES -----------------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
0
OWNED BY -----------------------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER
530,093
REPORTING -----------------------------------------------------------------
PERSON WITH (8) SHARED DISPOSITIVE POWER
0
--------------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
530,093
--------------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT IN
ROW (9) EXCLUDES CERTAIN SHARES **
[ ]
--------------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
5.29%
--------------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
CO
--------------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 87831110-9 13G Page 6 of 20 Pages
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Ramius Securities, L.L.C. 58-2253019
--------------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
--------------------------------------------------------------------------------
(3) SEC USE ONLY
--------------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
211,123
SHARES -----------------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
0
OWNED BY -----------------------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER
211,123
REPORTING -----------------------------------------------------------------
PERSON WITH (8) SHARED DISPOSITIVE POWER
0
--------------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
211,123
--------------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES **
[ ]
--------------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
2.11%
--------------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
BD
--------------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 87831110-9 13G Page 7 of 20 Pages
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Ramius Advisors, L.L.C. 13-3954331
--------------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
--------------------------------------------------------------------------------
(3) SEC USE ONLY
--------------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
530,093
SHARES -----------------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
0
OWNED BY -----------------------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER
530,093
REPORTING -----------------------------------------------------------------
PERSON WITH (8) SHARED DISPOSITIVE POWER
0
--------------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
530,093
--------------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES **
[ ]
--------------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
5.29%
--------------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
IA, OO
--------------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 87831110-9 13G Page 8 of 20 Pages
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
C4S & Co., L.L.C. 13-3946794
--------------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
--------------------------------------------------------------------------------
(3) SEC USE ONLY
--------------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
992,887
SHARES -----------------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
0
OWNED BY -----------------------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER
992,887
REPORTING -----------------------------------------------------------------
PERSON WITH (8) SHARED DISPOSITIVE POWER
0
--------------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
992,887
--------------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES **
[ ]
--------------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
9.90%
--------------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
OO
--------------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 87831110-9 13G Page 9 of 20 Pages
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Peter A. Cohen
--------------------------------------------------------------------------------
(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
992,887
OWNED BY -----------------------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER
0
REPORTING -----------------------------------------------------------------
PERSON WITH (8) SHARED DISPOSITIVE POWER
992,887
--------------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
992,887
--------------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES **
[ ]
--------------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
9.90%
--------------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
IN
--------------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 87831110-9 13G Page 10 of 20 Pages
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Morgan B. Stark
--------------------------------------------------------------------------------
(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
992,887
OWNED BY -----------------------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER
0
REPORTING -----------------------------------------------------------------
PERSON WITH (8) SHARED DISPOSITIVE POWER
992,887
--------------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
992,887
--------------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES **
[ ]
--------------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
9.90%
--------------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
IN
--------------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 87831110-9 13G Page 11 of 20 Pages
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Thomas W. Strauss
--------------------------------------------------------------------------------
(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
992,887
OWNED BY -----------------------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER
0
REPORTING -----------------------------------------------------------------
PERSON WITH (8) SHARED DISPOSITIVE POWER
992,887
--------------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
992,887
--------------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES **
[ ]
--------------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
9.90%
--------------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
IN
--------------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 87831110-9 13G Page 12 of 20 Pages
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Jeffrey M. Solomon
--------------------------------------------------------------------------------
(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
992,887
OWNED BY -----------------------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER
0
REPORTING -----------------------------------------------------------------
PERSON WITH (8) SHARED DISPOSITIVE POWER
992,887
--------------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY
OWNED BY EACH REPORTING PERSON
992,887
--------------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES **
[ ]
--------------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
9.90%
--------------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON **
IN
--------------------------------------------------------------------------------
** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 87831110-9 13G Page 13 of 20 Pages
Item 1.
(a) Name of Issuer
Techteam Global, Inc., a Delaware Corporation (the "Company").
(b) Address of Issuer's Principal Executive Offices
27335 W. Eleven Mile Rd.
Southfield, MI 48034
Item 2(a). Name of Person Filing
Item 2(b). Address of Principal Business Office
Item 2(c). Citizenship
Ramius Capital Group, L.L.C.
666 Third Avenue, 26th Floor
New York, New York 10017
Citizenship: Delaware
RCG Ambrose Master Fund, Ltd.
c/o Ramius Capital Group, L.L.C.
666 Third Avenue, 26th Floor
New York, New York 10017
Citizenship: Cayman Islands
RCG Halifax Fund, Ltd.
c/o Ramius Capital Group, L.L.C.
666 Third Avenue, 26th Floor
New York, New York 10017
Citizenship: Cayman Islands
Ramius Master Fund, Ltd.
c/o Ramius Capital Group, L.L.C.
666 Third Avenue, 26th Floor
New York, New York 10017
Citizenship: Cayman Islands
Ramius Securities, L.L.C.
c/o Ramius Capital Group, L.L.C.
666 Third Avenue, 26th Floor
New York, New York 10017
Citizenship: Delaware
Ramius Advisors, L.L.C.
c/o Ramius Capital Group, L.L.C.
666 Third Avenue, 26th Floor
New York, New York 10017
Citizenship: Delaware
C4S & Co., L.L.C.
c/o Ramius Capital Group, L.L.C.
666 Third Avenue, 26th Floor
New York, New York 10017
Citizenship: Delaware
CUSIP No. 87831110-9 13G Page 14 of 20 Pages
Peter A. Cohen
c/o Ramius Capital Group, L.L.C.
666 Third Avenue, 26th Floor
New York, New York 10017
Citizenship: United States
Morgan B. Stark
c/o Ramius Capital Group, L.L.C.
666 Third Avenue, 26th Floor
New York, New York 10017
Citizenship: United States
Thomas W. Strauss
c/o Ramius Capital Group, L.L.C.
666 Third Avenue, 26th Floor
New York, New York 10017
Citizenship: United States
Jeffrey M. Solomon
c/o Ramius Capital Group, L.L.C.
666 Third Avenue, 26th Floor
New York, New York 10017
Citizenship: United States
Item 2(d). Title of Class of Securities
Common Stock, par value $0.01 per share ("Common Stock")
Item 2(e). CUSIP Number
87831110-9
Item 3. If this statement is filed pursuant to Rules 13d-1(b), or 13d-2(b) or
(c), check whether the person filing is a:
(a) [ ] Broker or dealer registered under Section 15 of the Act (15 U.S.C.
78o).
(b) [ ] Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c).
(c) [ ] Insurance company as defined in Section 3(a)(19) of the Act (15
U.S.C. 78c).
(d) [ ] Investment company registered under Section 8 of the Investment
Company Act of 1940 (15 U.S.C. 80a-8).
(e) [ ] An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E);
(f) [ ] An employee benefit plan or endowment fund in accordance with Rule
13d-1(b)(1)(ii)(F);
(g) [ ] A parent holding company or control person in accordance with Rule
13d-1(b)(1)(ii)(G);
CUSIP No. 87831110-9 13G Page 15 of 20 Pages
(h) [ ] A savings association as defined in Section 3(b) of the Federal
Deposit Insurance Act (12 U.S.C. 1813);
(i) [ ] A church plan that is excluded from the definition of an investment
company under Section 3(c)(14) of the Investment Company Act of 1940 (15
U.S.C. 80a-3);
(j) [ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(J).
If this statement is filed pursuant to Rule 13d-1(c), check this box. [X]
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 hereof, (i) RCG Ambrose Master Fund, Ltd., a Cayman
Islands company ("Ambrose") owns 125,178 shares of Common Stock, (ii) RCG
Halifax Fund, Ltd., a Cayman Islands company ("Halifax") owns 126,493 shares of
Common Stock, (iii) Ramius Master Fund, Ltd., a Cayman Islands Company ("Ramius
Master Fund") owns 530,093 shares of Common Stock, and (iv) Ramius Securities,
L.L.C., a Delaware limited liability company ("Ramius Securities") owns 211,123
shares of Common Stock. In addition, (i) Ramius Advisors, L.L.C., a Delaware
limited liability company ("Ramius Advisors") may be deemed to beneficially own
the 530,093 shares owned by Ramius Master Fund and (ii) each of Ramius Capital
Group, L.L.C., a Delaware limited liability company ("Ramius Capital"), C4S &
Co., L.L.C., a Delaware limited liability company ("C4S"), Peter A. Cohen ("Mr.
Cohen"), Morgan B. Stark ("Mr. Stark"), Thomas W. Strauss ("Mr. Strauss") and
Jeffrey M. Solomon ("Mr. Solomon") may be deemed to beneficially own all shares
of Common Stock held by Ambrose, Halifax, Ramius Master Fund and Ramius
Securities, an aggregate number of 992,887 shares of Common Stock.
Note: Ramius Capital is the investment manager of Ambrose and Halifax
and has the power to direct some of the affairs of Ambrose and Halifax,
including decisions respecting the disposition of the proceeds from the sale of
shares of the Common Stock. Ramius Advisors is the investment manager of Ramius
Master Fund and has the power to direct some of the affairs of Ramius Master
Fund, including decisions respecting the disposition of the proceeds from the
sale of shares of the Common Stock. Ramius Capital is the managing member of
Ramius Advisors. Ramius Securities is a broker dealer affiliated with Ramius
Capital. Ramius Capital is the managing member of Ramius Securities. C4S is the
managing member of Ramius Capital and in that capacity directs its operations.
Mr. Cohen, Mr. Stark, Mr. Strauss and Mr. Solomon are the managing members of
C4S and in that capacity direct its operations. The foregoing should not be
construed in and of itself as an admission by any Reporting Person as to
beneficial ownership of any shares of Common Stock owned by another Reporting
Person. In addition, each of Mr. Cohen, Mr. Stark, Mr. Strauss and Mr. Solomon
disclaims beneficial ownership of the shares of Common Stock owned by Ambrose,
Halifax, Ramius Master Fund and Ramius Securities and the filing of this
statement shall not be construed as an admission that any such person is the
beneficial owner of any such securities.
(b) Percent of class:
CUSIP No. 87831110-9 13G Page 16 of 20 Pages
Based on the annual report on Form 10-K filed by the Company on March
16, 2006, there were 10,029,204 shares of Common Stock outstanding as of March
10, 2006. Therefore, (i) Ambrose may be deemed to beneficially own 1.25% of the
outstanding shares of Common Stock, (ii) Halifax may be deemed to beneficially
own 1.26% of the outstanding shares of Common Stock, (iii) each of Ramius Master
Fund and Ramius Advisors may be deemed to beneficially own 5.29% of the
outstanding shares of Common Stock, (iv) Ramius Securities may be deemed to
beneficially own 2.11% of the outstanding shares of Common Stock, and (v) each
of Ramius Capital, C4S, Mr. Cohen, Mr. Stark, Mr. Strauss and Mr. Solomon may be
deemed to beneficially own 9.90% of the outstanding shares of Common Stock.
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote:
See Item 4(a) above.
(ii) Shared power to vote or to direct the vote
See Item 4(a) above.
(iii) Sole power to dispose or to direct the disposition of
See Item 4(a) above.
(iv) Shared power to dispose or to direct the disposition of
See Item 4(a) above.
Item 5. Ownership of Five Percent or Less of a Class
Not applicable.
Item 6. Ownership of More than Five Percent on Behalf of Another Person.
Not applicable.
Item 7. Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on By the Parent Holding Company
Not applicable.
Item 8. Identification and Classification of Members of the Group
See Exhibit I.
Item 9. Notice of Dissolution of Group
Not applicable
CUSIP No. 87831110-9 13G Page 17 of 20 Pages
Item 10. Certification
By signing below each of the undersigned certifies that, to the best of its
knowledge and belief, the securities referred to above were not acquired and are
not held for the purpose of or with the effect of changing or influencing the
control of the issuer of the securities and were not acquired and are not held
in connection with or as a participant in any transaction having that purpose or
effect.
Exhibits:
Exhibit I: Joint Filing Agreement, dated as of April 10, 2006, by and among
Ramius Capital, Ambrose, Halifax, Ramius Master Fund, Ramius Securities, Ramius
Advisors, C4S, Mr. Cohen, Mr. Stark, Mr. Strauss and Mr. Solomon.
Exhibit II: Power of attorney for Peter A. Cohen, Morgan B. Stark, Thomas W.
Strauss and Jeffrey M. Solomon dated March 11, 2005.
CUSIP No. 87831110-9 13G Page 18 of 20 Pages
SIGNATURES
After reasonable inquiry and to the best of his knowledge and belief, each
of the undersigned certifies that the information set forth in this statement is
true, complete and correct.
Dated: April 10, 2006
RCG AMBROSE MASTER FUND, LTD. RAMIUS MASTER FUND, LTD
By: Ramius Capital Group, L.L.C., By: Ramius Advisors, L.L.C.
its investment manager its investment manager
By: C4S & Co., L.L.C., By: Ramius Capital Group, L.L.C.
its Managing Member its managing member
RCG HALIFAX FUND, LTD. RAMIUS ADVISORS, L.L.C.
By: Ramius Capital Group, L.L.C., By: Ramius Capital Group, L.L.C.,
its investment manager its managing member
By: C4S & Co., L.L.C.,
its managing member RAMIUS CAPITAL GROUP, L.L.C.
By: C4S & Co., L.L.C.,
RAMIUS SECURITIES, L.L.C. as managing member
By: Ramius Capital Group, L.L.C.,
its Managing Member C4S & CO., L.L.C.
By: C4S & Co., L.L.C.,
its Managing Member
By: /s/ Morgan B. Stark
---------------------------
Name: Morgan B. Stark
Title: Authorized Signatory
MORGAN B. STARK
/s/ Morgan B. Stark
-------------------------------------
Individually and as attorney-in-fact
for Peter A. Cohen,
Jeffrey M. Solomon and
Thomas W. Strauss
CUSIP No. 87831110-9 13G Page 19 of 20 Pages
EXHIBIT I
JOINT FILING AGREEMENT
PURSUANT TO RULE 13D-1(k)
The undersigned acknowledge and agree that the foregoing statement on Schedule
13D is filed on behalf of each of the undersigned and that all subsequent
amendments to this statement on Schedule 13D shall be filed on behalf of each of
the undersigned without the necessity of filing additional joint acquisition
statements. The undersigned acknowledge that each shall be responsible for the
timely filing of such amendments, and for the completeness and accuracy of the
information concerning him or it contained therein, but shall not be responsible
for the completeness and accuracy of the information concerning the others,
except to the extent that he or it knows or has reason to believe that such
information is inaccurate.
Dated: April 10, 2006
RCG AMBROSE MASTER FUND, LTD. RAMIUS MASTER FUND, LTD
By: Ramius Capital Group, L.L.C., By: Ramius Advisors, L.L.C.
its investment manager its investment manager
By: C4S & Co., L.L.C., By: Ramius Capital Group, L.L.C.
its Managing Member its managing member
RCG HALIFAX FUND, LTD. RAMIUS ADVISORS, L.L.C.
By: Ramius Capital Group, L.L.C., By: Ramius Capital Group, L.L.C.,
its investment manager its managing member
By: C4S & Co., L.L.C.,
its managing member RAMIUS CAPITAL GROUP, L.L.C.
By: C4S & Co., L.L.C.,
RAMIUS SECURITIES, L.L.C. as managing member
By: Ramius Capital Group, L.L.C.,
its Managing Member C4S & CO., L.L.C.
By: C4S & Co., L.L.C.,
its Managing Member
By: /s/ Morgan B. Stark
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Name: Morgan B. Stark
Title: Authorized Signatory
MORGAN B. STARK
/s/ Morgan B. Stark
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Individually and as attorney-in-fact
for Peter A. Cohen,
Jeffrey M. Solomon and
Thomas W. Strauss
CUSIP No. 87831110-9 13G Page 20 of 20 Pages
EXHIBIT II
POWER OF ATTORNEY
The undersigned hereby appoints Peter A. Cohen, Morgan B. Stark, Thomas W.
Strauss and Jeffrey M. Solomon, or any of them, his true and lawful attorney-in
fact and agent to execute and file with the Securities and Exchange Commission
any Schedule 13D, Schedule 13G, any amendments thereto and any related
documentation which may be required to be filed in his individual capacity as a
result of the undersigned's beneficial ownership of, or participation in a group
with respect to, securities directly or indirectly beneficially owned by Ramius
Capital Group, LLC or any of its affiliates, and granting unto said
attorney-in-fact and agent full power and authority to do and perform each and
every act and thing which he might or could do in person, hereby ratifying and
confirming all that said attorney-in-fact and agent may lawfully do or cause to
be done by virtue hereof. The authority of Peter A. Cohen, Morgan B. Stark,
Thomas W. Strauss and Jeffrey M. Solomon, or any of them, under this Power of
Attorney shall continue with respect to the undersigned until the undersigned is
no longer required to file Schedule 13Ds or Schedule 13Gs unless revoked earlier
in writing.
Date: March 11, 2005
/s/ Peter A. Cohen
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Peter A. Cohen
/s/ Morgan B. Stark
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Morgan B. Stark
/s/ Thomas W. Strauss
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Thomas W. Strauss
/s/ Jeffrey M. Solomon
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Jeffrey M. Solomon