UNITED STATES
SECURITIES EXCHANGE COMMISSION
Washington, D.C. 20549
--------------------------------------------------------------------------------
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1)
LIBERATE TECHNOLOGIES
---------------------
(Name of Issuer)
Common Stock, $0.01 par value per share
---------------------------------------------
(Title of Class of Securities)
530129105
---------------
(CUSIP Number)
December 31, 2004
--------------------------
(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 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 14 Pages
Exhibit Index: Page 12
SCHEDULE 13G
CUSIP No.: 530129105 Page 2 of 14 Pages
................................................................................
1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
GLENVIEW CAPITAL MANAGEMENT, LLC
................................................................................
2 Check the Appropriate Box if a Member of a Group
(a) [ ]
(b) [X]
................................................................................
3. SEC Use Only
................................................................................
4 Citizenship or Place of Organization
Delaware
................................................................................
Number of 5. Sole Voting Power None
Shares ................................................................
Beneficially 6. Shared Voting Power 10,395,000
Owned by Each ................................................................
Reporting 7. Sole Dispositive Power None
Person With ................................................................
8. Shared Dispositive Power 10,395,000
................................................................................
9. Aggregate Amount Beneficially Owned by Each Reporting Person
10,395,000
................................................................................
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions)
[ ]
................................................................................
11. Percent of Class Represented by Amount in Row (9)
9.8% based on 105,752,099 shares outstanding as of December 31, 2004.
................................................................................
12. Type of Reporting Person:
OO
SCHEDULE 13G
CUSIP No.: 530129105 Page 3 of 14 Pages
................................................................................
1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
GLENVIEW CAPITAL GP, LLC
................................................................................
2 Check the Appropriate Box if a Member of a Group
(a) [ ]
(b) [X]
................................................................................
3. SEC Use Only
................................................................................
4 Citizenship or Place of Organization
Delaware
................................................................................
Number of 5. Sole Voting Power None
Shares ................................................................
Beneficially 6. Shared Voting Power 10,395,000
Owned by Each ................................................................
Reporting 7. Sole Dispositive Power None
Person With ................................................................
8. Shared Dispositive Power 10,395,000
................................................................................
9. Aggregate Amount Beneficially Owned by Each Reporting Person
10,395,000
................................................................................
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions)
[ ]
................................................................................
11. Percent of Class Represented by Amount in Row (9)
9.8% based on 105,752,099 shares outstanding as of December 31, 2004.
................................................................................
12. Type of Reporting Person:
OO
SCHEDULE 13G
CUSIP No.: 530129105 Page 4 of 14 Pages
................................................................................
1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
GLENVIEW CAPITAL PARTNERS, LLC
................................................................................
2 Check the Appropriate Box if a Member of a Group
(a) [ ]
(b) [X]
................................................................................
3. SEC Use Only
................................................................................
4 Citizenship or Place of Organization
Delaware
................................................................................
Number of 5. Sole Voting Power None
Shares ................................................................
Beneficially 6. Shared Voting Power 10,395,000
Owned by Each ................................................................
Reporting 7. Sole Dispositive Power None
Person With ................................................................
8. Shared Dispositive Power 10,395,000
................................................................................
9. Aggregate Amount Beneficially Owned by Each Reporting Person
10,395,000
................................................................................
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions)
[ ]
................................................................................
11. Percent of Class Represented by Amount in Row (9)
9.8% based on 105,752,099 shares outstanding as of December 31, 2004.
................................................................................
12. Type of Reporting Person:
PN
SCHEDULE 13G
CUSIP No.: 530129105 Page 5 of 14 Pages
................................................................................
1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
GLENVIEW CAPITAL MASTER FUND, LTD.
................................................................................
2 Check the Appropriate Box if a Member of a Group
(a) [ ]
(b) [X]
................................................................................
3. SEC Use Only
................................................................................
4 Citizenship or Place of Organization
Cayman Islands, British West Indies
................................................................................
Number of 5. Sole Voting Power None
Shares ................................................................
Beneficially 6. Shared Voting Power 10,395,000
Owned by Each ................................................................
Reporting 7. Sole Dispositive Power None
Person With ................................................................
8. Shared Dispositive Power 10,395,000
................................................................................
9. Aggregate Amount Beneficially Owned by Each Reporting Person
10,395,000
................................................................................
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions)
[ ]
................................................................................
11. Percent of Class Represented by Amount in Row (9)
9.8% based on 105,752,099 shares outstanding as of December 31, 2004.
................................................................................
12. Type of Reporting Person:
CO
SCHEDULE 13G
CUSIP No.: 530129105 Page 6 of 14 Pages
................................................................................
1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
GLENVIEW INSTITUTIONAL PARTNERS, L.P.
................................................................................
2 Check the Appropriate Box if a Member of a Group
(a) [ ]
(b) [X]
................................................................................
3. SEC Use Only
................................................................................
4 Citizenship or Place of Organization
Delaware
................................................................................
Number of 5. Sole Voting Power None
Shares ................................................................
Beneficially 6. Shared Voting Power 10,395,000
Owned by Each ................................................................
Reporting 7. Sole Dispositive Power None
Person With ................................................................
8. Shared Dispositive Power 10,395,000
................................................................................
9. Aggregate Amount Beneficially Owned by Each Reporting Person
10,395,000
................................................................................
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions)
[ ]
................................................................................
11. Percent of Class Represented by Amount in Row (9)
9.8% based on 105,752,099 shares outstanding as of December 31, 2004.
................................................................................
12. Type of Reporting Person:
PN
SCHEDULE 13G
CUSIP No.: 530129105 Page 7 of 14 Pages
................................................................................
1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
LAWRENCE M. ROBBINS
................................................................................
2 Check the Appropriate Box if a Member of a Group
(a) [ ]
(b) [X]
................................................................................
3. SEC Use Only
................................................................................
4 Citizenship or Place of Organization
United States of America
................................................................................
Number of 5. Sole Voting Power None
Shares ................................................................
Beneficially 6. Shared Voting Power 10,395,000
Owned by Each ................................................................
Reporting 7. Sole Dispositive Power None
Person With ................................................................
8. Shared Dispositive Power 10,395,000
................................................................................
9. Aggregate Amount Beneficially Owned by Each Reporting Person
10,395,000
................................................................................
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions)
[ ]
................................................................................
11. Percent of Class Represented by Amount in Row (9)
9.8% based on 105,752,099 shares outstanding as of December 31, 2004.
................................................................................
12. Type of Reporting Person:
IA
Page 8 of 14 Pages
Item 1(a). Name of Issuer:
Liberate Technologies (the "Issuer")
Item 1(b). Address of Issuer's Principal Executive Offices:
2655 Campus Drive, Suite 250, San Mateo, CA 94403
Item 2(a). Name of Person Filing
This Statement is filed on behalf of each of the following
persons (collectively, the "Reporting Persons"):
i) Glenview Capital Management, LLC ("Glenview Capital
Management");
ii) Glenview Capital GP, LLC ("Glenview Capital GP");
iii) Glenview Capital Partners, L.P. ("Glenview Capital
Partners");
iv) Glenview Institutional Partners, L.P. ("Glenview
Institutional Partners");
v) Glenview Capital Master Fund, Ltd. ("Glenview Capital
Master Fund"); and
vi) Lawrence M. Robbins ("Mr. Robbins").
This Statement relates to Shares (as defined herein) held for the
accounts of Glenview Capital Partners, Glenview Institutional Partners, Glenview
Capital Master Fund, GCM Little Arbor Master Fund, Ltd., a Cayman Islands
exempted company ("GCM Little Arbor Master Fund"), GCM Little Arbor
Institutional Partners, L.P., a Delaware limited partnership ("GCM Little Arbor
Institutional Partners"), and GCM Little Arbor Partners, L.P., a Delaware
limited partnership ("GCM Little Arbor Partners").
Glenview Capital Management serves as investment manager to each
of Glenview Capital Partners, Glenview Institutional Partners, Glenview Capital
Master Fund, GCM Little Arbor Master Fund, GCM Little Arbor Institutional
Partners, and GCM Little Arbor Partners. In such capacity, Glenview Capital
Management may be deemed to have voting and dispositive power over the Shares
held for the accounts of each of Glenview Capital Partners, Glenview
Institutional Partners, Glenview Capital Master Fund, GCM Little Arbor Master
Fund, GCM Little Arbor Institutional Partners, and GCM Little Arbor Partners.
Glenview Capital GP is the general partner of Glenview Capital Partners,
Glenview Institutional Partners, GCM Little Arbor Institutional Partners and GCM
Little Arbor Partners. Glenview Capital GP also serves as the sponsor of the
Glenview Capital Master Fund and the GCM Little Arbor Master Fund. In such
capacities, Glenview Capital GP may be deemed to have voting and dispositive
power over the Shares held for the accounts of each of Glenview Capital
Partners, Glenview Institutional Partners, Glenview Capital Master Fund, GCM
Little Arbor Master Fund, GCM Little Arbor Institutional Partners, and GCM
Little Arbor Partners. Mr. Robbins is the Chief Executive Officer of Glenview
Capital Management and Glenview Capital GP.
Item 2(b) Address of Principal Business Office or, if None, Residence
The address of the principal business office of each of Glenview
Capital Management, Glenview Capital GP, Glenview Capital Partners, Glenview
Institutional Partners and Mr. Robbins is 399 Park Avenue, Floor 39, New York,
New York 10022. The address of the principal business office of Glenview Capital
Master Fund is c/o Goldman Sachs (Cayman) Trust, Limited, Harbour Centre, North
Church Street, P.O. Box 896GT, George Town, Grand Cayman, Cayman Islands,
British West Indies.
Page 9 of 14 Pages
Item 2(c) Citizenship
i) Glenview Capital Management is a Delaware limited liability
company;
ii) Glenview Capital GP is a Delaware limited liability company;
iii) Glenview Capital Partners is a Delaware limited partnership;
iv) Glenview Institutional Partners is a Delaware limited
partnership;
v) Glenview Capital Master Fund is a Cayman Islands exempted
company; and
vi) Mr. Robbins is a citizen of the United States of America.
Item 2(d) Title of Class of Securities:
Common Stock, $0.01 par value per share (the "Shares")
Item 2(e) CUSIP Number:
530129105
Item 3 If This Statement is Filed Pursuant to ss.ss.240.13d-1(b) or
240.13d-2(b) or (c), Check Whether the Person Filing is a:
This Item 3 is not applicable.
Item 4 Ownership:
Item 4(a) Amount Beneficially Owned:
As of February 8, 2005, each of the Reporting Persons may be
deemed to be the beneficial owner of 10,395,000 Shares. This amount consists of:
(A) 875,300 Shares held for the account of Glenview Capital Partners; (B)
5,974,600 Shares held for the account of Glenview Capital Master Fund; (C)
2,998,000 Shares held for the account of Glenview Institutional Partners; (D)
500,900 Shares held for the account of GCM Little Arbor Master Fund, (E) 17,300
Shares held for the account of GCM Little Arbor Institutional Partners, and (F)
28,900 Shares held for the account of GCM Little Arbor Partners.
Item 4(b) Percent of Class:
The number of Shares of which each of the Reporting Persons may
be deemed to be the beneficial owner constitutes approximately 9.8% of the total
number of Shares outstanding (based upon information provided by the Issuer in
its most recently-filed quarterly statement on Form 10-Q, there were 105,752,099
Shares outstanding as of December 31, 2004).
Page 10 of 14 Pages
Item 4(c) Number of Shares of which such person has:
Glenview Capital Management, Glenview Capital GP, Glenview Capital Partners,
----------------------------------------------------------------------------
Glenview Institutional Partners, Glenview Capital Master Fund and Mr. Robbins:
------------------------------------------------------------------------------
(i) Sole power to vote or direct the vote: 0
(ii) Shared power to vote or direct the vote: 10,395,000
(iii) Sole power to dispose or direct the disposition of: 0
(iv) Shared power to dispose or direct the disposition of: 10,395,000
Item 5 Ownership of Five Percent or Less of a Class:
This Item 5 is not applicable
Item 6. Ownership of More than Five Percent on Behalf of Another Person:
This Item 6 is not applicable
Item 7. Identification and Classification of the Subsidiary Which
Acquired the Security Being Reported on By the Parent Holding
Company:
This Item 7 is not applicable.
Item 8. Identification and Classification of Members of the Group:
This Item 8 is not applicable.
Item 9. Notice of Dissolution of Group:
This Item 9 is not applicable.
Item 10. Certification:
By signing below each of the Reporting Persons certifies that, to
the best of their 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.
Page 11 of 14 Pages
SIGNATURES
After reasonable inquiry and to the best of my knowledge and belief,
the undersigned certifies that the information set forth in this statement is
true, complete and correct.
Date: February 9, 2005 GLENVIEW CAPITAL MANAGEMENT, LLC
By: /s/ Lawrence M. Robbins
----------------------------
Name: Lawrence M. Robbins
Title: Chief Executive Officer
Date: February 9, 2005 GLENVIEW CAPITAL GP, LLC
By: /s/ Lawrence M. Robbins
----------------------------
Name: Lawrence M. Robbins
Title: Chief Executive Officer
Date: February 9, 2005 GLENVIEW CAPITAL PARTNERS, L.P.
By: Glenview Capital GP, LLC
As General Partner
By: /s/ Lawrence M. Robbins
----------------------------
Name: Lawrence M. Robbins
Title: Chief Executive Officer
Date: February 9, 2005 GLENVIEW INSTITUTIONAL PARTNERS, L.P.
By: Glenview Capital GP, LLC
As General Partner
By: /s/ Lawrence M. Robbins
----------------------------
Name: Lawrence M. Robbins
Title: Chief Executive Officer
Date: February 9, 2005 GLENVIEW CAPITAL MASTER FUND, LTD.
By: Glenview Capital Management, LLC
As Investment Manager
By: /s/ Lawrence M. Robbins
----------------------------
Name: Lawrence M. Robbins
Title: Chief Executive Officer
Date: February 9, 2005 LAWRENCE M. ROBBINS
/s/ Lawrence M. Robbins
----------------------------
Page 12 of 14 Pages
Exhibit Index
Ex. Page No.
--- --------
A. Joint Filing Agreement, dated February 9, 2005 by and among
Glenview Capital Management, LLC, Glenview Capital GP, LLC,
Glenview Capital Partners, L.P., Glenview Institutional
Partners, L.P., Glenview Capital Master Fund, Ltd. and Mr.
Robbins..................................................... 13
Page 13 of 14 Pages
Exhibit A
Joint Filing Agreement
The undersigned hereby agree that the statement on Schedule 13G with
respect to the Common Stock of Liberate Technologies dated as of February 9,
2005 is, and any amendments thereto (including amendments on Schedule 13D)
signed by each of the undersigned shall be, filed on behalf of each of us
pursuant to and in accordance with the provisions of Rule 13d-1(k) under the
Securities Exchange Act of 1934, as amended.
Date: February 9, 2005 GLENVIEW CAPITAL MANAGEMENT, LLC
By: /s/ Lawrence M. Robbins
----------------------------
Name: Lawrence M. Robbins
Title: Chief Executive Officer
Date: February 9, 2005 GLENVIEW CAPITAL GP, LLC
By: /s/ Lawrence M. Robbins
----------------------------
Name: Lawrence M. Robbins
Title: Chief Executive Officer
Date: February 9, 2005 GLENVIEW CAPITAL PARTNERS, L.P.
By: Glenview Capital GP, LLC
As General Partner
By: /s/ Lawrence M. Robbins
----------------------------
Name: Lawrence M. Robbins
Title: Chief Executive Officer
Date: February 9, 2005 GLENVIEW INSTITUTIONAL PARTNERS, L.P.
By: Glenview Capital GP, LLC
As General Partner
By: /s/ Lawrence M. Robbins
----------------------------
Name: Lawrence M. Robbins
Title: Chief Executive Officer
Date: February 9, 2005 GLENVIEW CAPITAL MASTER FUND, LTD.
By: Glenview Capital Management, LLC
As Investment Manager
By: /s/ Lawrence M. Robbins
----------------------------
Name: Lawrence M. Robbins
Title: Chief Executive Officer
Page 14 of 14 Pages
Date: February 9, 2005 LAWRENCE M. ROBBINS
/s/ Lawrence M. Robbins
----------------------------