SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
-------------
SCHEDULE 13D/A*
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO
RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO RULE
13d-2(a)
(Amendment No.1)*
TECHTEAM GLOBAL, INC.
-------------------------------------------------
(Name of Issuer)
Common Stock, par value $0.01 per share
-------------------------------------------------
(Title of Class of Securities)
878311109
-------------------------------------------------
(CUSIP Number)
Mr. Charles Frumberg
Emancipation Capital
825 Third Avenue
New York, NY 10022
(212) 605-0661
-------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
February 11, 2009
-------------------------------------------------
(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/A, and is filing
this schedule because of Rule 13d-1(e), 13d-1(f) or 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 Rule 13d-7 for other
parties to whom copies are to be sent.
(Continued on following pages)
----------------
* 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).
CUSIP No. 641144308 13D/A Page 2 of 8 Pages
-----------------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSONS (ENTITIES ONLY)
Emancipation Capital, LP
-----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP *
(a) [ ]
(b) [ ]
-----------------------------------------------------------------------------
(3) SEC USE ONLY
-----------------------------------------------------------------------------
(4) SOURCE OF FUNDS*
OO
-----------------------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e)
[ ]
-----------------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
-----------------------------------------------------------------------------
NUMBER OF (7) SOLE VOTING POWER
-0-
SHARES
--------------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
737,035
OWNED BY --------------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
-0-
REPORTING --------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
737,035
-----------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
737,035
-----------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES * [ ]
-----------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
6.17%
-----------------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON *
PN
-----------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 641144308 13D/A Page 3 of 8 Pages
----------------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSONS (ENTITIES ONLY)
Emancipation Capital, LLC
-----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP *
(a) [ ]
(b) [ ]
-----------------------------------------------------------------------------
(3) SEC USE ONLY
-----------------------------------------------------------------------------
(4) SOURCE OF FUNDS*
OO
-----------------------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) [ ]
-----------------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
-----------------------------------------------------------------------------
NUMBER OF (7) SOLE VOTING POWER
-0-
SHARES --------------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
737,035
OWNED BY --------------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
-0-
REPORTING --------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
737,035
-----------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
737,035
-----------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES * [ ]
-----------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
6.17%
-----------------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON *
OO
-----------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 641144308 13D/A Page 4 of 8 Pages
----------------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSONS (ENTITIES ONLY)
Emancipation Capital Master, Ltd.
-----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP *
(a) [ ]
(b) [ ]
-----------------------------------------------------------------------------
(3) SEC USE ONLY
-----------------------------------------------------------------------------
(4) SOURCE OF FUNDS*
OO
-----------------------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) [ ]
-----------------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
-----------------------------------------------------------------------------
NUMBER OF (7) SOLE VOTING POWER
-0-
SHARES --------------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
737,035
OWNED BY --------------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
-0-
REPORTING --------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
737,035
-----------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
737,035
-----------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES * [ ]
-----------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
6.17%
-----------------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON *
CO
-----------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 641144308 13D/A Page 5 of 8 Pages
----------------------------------------------------------------------------
(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSONS (ENTITIES ONLY)
Charles Frumberg
-----------------------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP *
(a) [ ]
(b) [ ]
-----------------------------------------------------------------------------
(3) SEC USE ONLY
-----------------------------------------------------------------------------
(4) SOURCE OF FUNDS*
OO
-----------------------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) [ ]
-----------------------------------------------------------------------------
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
-----------------------------------------------------------------------------
NUMBER OF (7) SOLE VOTING POWER
-0-
SHARES --------------------------------------------------------------
BENEFICIALLY (8) SHARED VOTING POWER
737,035
OWNED BY --------------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
-0-
REPORTING --------------------------------------------------------------
PERSON WITH (10) SHARED DISPOSITIVE POWER
737,035
-----------------------------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
737,035
-----------------------------------------------------------------------------
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES * [ ]
-----------------------------------------------------------------------------
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
6.17%
-----------------------------------------------------------------------------
(14) TYPE OF REPORTING PERSON *
IN
-----------------------------------------------------------------------------
* SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 641144308 13D/A Page 6 of 8 Pages
The Schedule 13D filed by the Reporting Persons on October 31, 2008 relating to
shares ("Shares") of the common stock, par value $0.01, of TechTeam Global,
Inc.(the "Issuer") is hereby amended as set forth below by this Amendment No. 1
to the Schedule 13D ("Amendment No. 1").
Item 3. Source and Amount of Funds or Other Consideration.
Item 3 of the Schedule 13D is hereby amended and restated in its entirety
as follows.
As of February 11, 2009, the aggregate amount of funds used to purchase the
Shares beneficially held by the Reporting Persons was $6,271,957. The Shares
beneficially owned by the Reporting Persons were acquired with investment funds
in accounts under management.
Item 4. Purpose of Transaction.
Item 4 of the Schedule 13D is hereby amended to include the following:
On February 11, 2009, the Board of Directors of the Issuer increased the
size of the Board of Directors to ten members, and appointed Charles Frumberg
and certain other persons to its Board of Directors effective the close of
business on February 11, 2009. Messr. Frumberg was appointed to serve on the
Issuer's Governance & Nominating Committee and its Strategy Committee.
Previously, by letter dated February 6, 2009, Costa Brava Partnership III L.P.,
an investment firm not affiliated with the Reporting Persons, requested that the
Issuer's Governance & Nominating Committee nominate Messr. Frumberg and certain
other individuals for election to serve on the Issuer's Board of Directors at
the Issuer's next annual meeting of shareholders.
Item 5. Interest in Securities of the Company.
Item 5 of the Schedule 13D is hereby amended and restated in its entirety
as follows:
(a) As of February 11, 2009, the Reporting Persons may be deemed to
beneficially own, in the aggregate, approximately 6.77% of the Issuer's
outstanding Shares. The aggregate percentage of Shares reported to be
beneficially owned by the Reporting Persons is based upon 10,884,203 Shares
outstanding, which is the total number of Shares outstanding as of November 1,
2008, as reported in the Issuer's Quarterly Report on Form 10-Q for the quarter
ended September 30, 2008.
(b) The Reporting Persons have the following powers over the Shares
reported herein:
(i) Emancipation Capital: Beneficial owner, with shared power to
vote or direct the vote and to dispose or direct the disposition, of 737,035
Shares, or an aggregate of 6.77% of the outstanding Shares.
(ii) Emancipation Capital LLC: Beneficial owner, with shared power
to vote or direct the vote and to dispose or direct the disposition, of 737,035
Shares, or an aggregate of 6.77% of the outstanding Shares.
CUSIP No. 641144308 13D/A Page 7 of 8 Pages
(iii) Emancipation Master Ltd.: Beneficial owner, with shared power
to vote or direct the vote and to dispose or direct the disposition, of 737,035
Shares, or an aggregate of 6.77% of the outstanding Shares.
(iv) Mr. Frumberg: Beneficial owner, with shared power to vote
or direct the vote and to dispose or direct the disposition, of 737,035 Shares,
or an aggregate of 6.77% of the outstanding Shares.
(c) The following table sets forth all transactions, other than the
unwinding of the Emancipation Swap (as defined below), with respect to the
Shares (including derivative transactions) effected during the past sixty (60)
days by any of the Reporting Persons, inclusive through 4:00 pm, New York City
time, on February 11, 2009.
---------------------- ------------ --------- ----------- ----------------------
Name Date No. of Price Per Transaction
Shares Share Type
---------------------- ------------ --------- ----------- ----------------------
Emancipation Capital 12/31/2008 6,400 $5.74 Purchase
---------------------- ------------ --------- ----------- ----------------------
Emancipation Capital 1/28/2009 5,000 $4.53 Purchase
---------------------- ------------ --------- ----------- ----------------------
Emancipation Capital 1/29/2009 10,000 $4.53 Purchase
---------------------- ------------ --------- ----------- ----------------------
Emancipation Capital 1/30/2009 5,300 $4.66 Purchase
---------------------- ------------ --------- ----------- ----------------------
Emancipation Capital 2/2/2009 2,7000 $4.28 Purchase
---------------------- ------------ --------- ----------- ----------------------
---------------------- ------------ --------- ----------- ----------------------
(d) No person (other than the Reporting Persons) is known to have the right
to receive or the power to direct the receipt of dividends from, or the proceeds
from the sale of, the Shares.
(e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships
with Respect to Securities of the Company.
Item 6 of the Schedule 13D is hereby amended to include the following:
Since the filing of the Schedule 13D, Emancipation Capital has unwound its
position with respect to the swap agreement disclosed in the initial Schedule
13D filing, which was for 529,566 Shares and was with Morgan Stanley & Co. (the
"Emancipation Swap"). In connection with unwinding the Emancipation Swap a
series of transactions were entered into, the net result of which was the
Reporting Persons directly owning approximately the same number of shares
previously held under the Emancipation Swap. Accordingly, as of the close of
business on February 11, 2009, the Reporting Persons are no longer parties to
any swap agreements with respect to the Shares.
CUSIP No. 641144308 13D/A Page 8 of 8 Pages
SIGNATURES
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.
Dated: February 13, 2009
EMANCIPATION CAPITAL, LP
By: Emancipation Capital, LLC, its
general partner
By: /s/ Charles Frumberg
----------------------------
Name: Charles Frumberg
Title: Managing Member
EMANCIPATION CAPITAL MASTER LTD.
By: /s/ Charles Frumberg
----------------------------
Name: Charles Frumberg
Title: Director
EMANCIPATION CAPITAL, LLC
By: /s/ Charles Frumberg
----------------------------
Name: Charles Frumberg
Title: Managing Member
CHARLES FRUMBERG
------------------------------------