UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G/A
(Rule 13d-102)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULES 13d-1(b), (c) AND (d) AND AMENDMENTS THERETO FILED
PURSUANT TO 13d-2(b)
(Amendment No. 1)*
Labor Ready, Inc.
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
505401208
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(CUSIP Number)
December 31, 2004
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Date of Event Which Requires Filing of this Statement
Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:
[x] Rule 13d-1 (b)
[ ] 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).
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CUSIP NO. 505401208
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1. NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Highbridge International LLC - not applicable
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
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3. SEC USE ONLY
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4. CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands, British West Indies
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5. SOLE VOTING POWER
0
NUMBER OF -----------------------------------------------------------
6. SHARED VOTING POWER
SHARES
$70,000,000 in aggregate principal amount of 6.25%
BENEFICIALLY Convertible Subordinated Notes (the "Notes") due
June 15, 2007 (convertible into 1,845,041 shares of the
OWNED BY issuer's common stock (conversion rate of 137.741 shares
per $1,000 principal amount of the notes).
EACH See footnote 1 in Item 4.
REPORTING
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PERSON WITH 7. SOLE DISPOSITIVE POWER
0
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8. SHARED DISPOSITIVE POWER
See Row 6 above.
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
See Row 6 above.
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10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[ ]
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11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
Approximately 4.21%. (Based on 41,979,929 shares of Common Stock
issued and outstanding as reported on the Issuer's latest 10Q
filed on November 15, 2004, plus the Reporting Persons' shares of
Common Stock issuable upon the conversion of the Notes.)
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12. TYPE OF REPORTING PERSON
OO - Limited Liability Company
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CUSIP NO. 505401208
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1. NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Highbridge Capital Corporation - not applicable
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
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3. SEC USE ONLY
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4. CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands, British West Indies
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5. SOLE VOTING POWER
0
NUMBER OF -----------------------------------------------------------
6. SHARED VOTING POWER
SHARES
$70,000,000 in aggregate principal amount of 6.25%
BENEFICIALLY Convertible Subordinated Notes (the "Notes") due
June 15, 2007 (convertible into 1,845,041 shares of the
OWNED BY issuer's common stock (conversion rate of 137.741 shares
per $1,000 principal amount of the notes).
EACH See footnote 1 in Item 4.
REPORTING
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PERSON WITH 7. SOLE DISPOSITIVE POWER
0
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8. SHARED DISPOSITIVE POWER
See Row 6 above.
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
See Row 6 above.
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10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[ ]
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11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
Approximately 4.21% as of December 31, 2004. (Based on 41,979,929
shares of Common Stock issued and outstanding as reported on the
Issuer's latest 10Q filed on November 15, 2004, plus the Reporting
Persons' shares of Common Stock issuable upon the conversion of
the Notes.)
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12. TYPE OF REPORTING PERSON
BD - Broker Dealer
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CUSIP NO. 505401208
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1. NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Highbridge Capital Management, LLC - 20-1901985
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
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3. SEC USE ONLY
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4. CITIZENSHIP OR PLACE OF ORGANIZATION
State of Delaware
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5. SOLE VOTING POWER
0
NUMBER OF -----------------------------------------------------------
6. SHARED VOTING POWER
SHARES
$70,000,000 in aggregate principal amount of 6.25%
BENEFICIALLY Convertible Subordinated Notes (the "Notes") due
June 15, 2007 (convertible into 1,845,041 shares of the
OWNED BY issuer's common stock (conversion rate of 137.741 shares
per $1,000 principal amount of the notes).
EACH See footnote 1 in Item 4.
REPORTING
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PERSON WITH 7. SOLE DISPOSITIVE POWER
0
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8. SHARED DISPOSITIVE POWER
See Row 6 above.
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
See Row 6 above.
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10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[ ]
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11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
Approximately 4.21% as of December 31, 2004. (Based on 41,979,929
shares of Common Stock issued and outstanding as reported on the
Issuer's latest 10Q filed on November 15, 2004, plus the Reporting
Persons' shares of Common Stock issuable upon the conversion of
the Notes.)
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12. TYPE OF REPORTING PERSON
OO - Limited Liability Company
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CUSIP NO. 505401208
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1. NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Glenn Dubin
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
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3. SEC USE ONLY
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4. CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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5. SOLE VOTING POWER
0
NUMBER OF -----------------------------------------------------------
6. SHARED VOTING POWER
SHARES
$70,000,000 in aggregate principal amount of 6.25%
BENEFICIALLY Convertible Subordinated Notes (the "Notes") due
June 15, 2007 (convertible into 1,845,041 shares of the
OWNED BY issuer's common stock (conversion rate of 137.741 shares
per $1,000 principal amount of the notes).
EACH See footnote 1 in Item 4.
REPORTING
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PERSON WITH 7. SOLE DISPOSITIVE POWER
0
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8. SHARED DISPOSITIVE POWER
See Row 6 above.
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
See Row 6 above.
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10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[ ]
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11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
Approximately 4.21% as of December 31, 2004. (Based on 41,979,929
shares of Common Stock issued and outstanding as reported on the
Issuer's latest 10Q filed on November 15, 2004, plus the Reporting
Persons' shares of Common Stock issuable upon the conversion of
the Notes.)
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12. TYPE OF REPORTING PERSON
IN
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CUSIP NO. 505401208
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1. NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Henry Swieca
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
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3. SEC USE ONLY
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4. CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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5. SOLE VOTING POWER
0
NUMBER OF -----------------------------------------------------------
6. SHARED VOTING POWER
SHARES
$70,000,000 in aggregate principal amount of 6.25%
BENEFICIALLY Convertible Subordinated Notes (the "Notes") due
June 15, 2007 (convertible into 1,845,041 shares of the
OWNED BY issuer's common stock (conversion rate of 137.741 shares
per $1,000 principal amount of the notes).
EACH See footnote 1 in Item 4.
REPORTING
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PERSON WITH 7. SOLE DISPOSITIVE POWER
0
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8. SHARED DISPOSITIVE POWER
See Row 6 above.
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
See Row 6 above.
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10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[ ]
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11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
Approximately 4.21% as of December 31, 2004. (Based on 41,979,929
shares of Common Stock issued and outstanding as reported on the
Issuer's latest 10Q filed on November 15, 2004, plus the Reporting
Persons' shares of Common Stock issuable upon the conversion of
the Notes.)
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12. TYPE OF REPORTING PERSON
IN
Item 1.
(a) Name of Issuer
Labor Ready, Inc.
(b) Address of Issuer's Principal Executive Offices:
1015 A Street
Tacoma, Washington 98402
Item 2(a). Name of Person Filing
Item 2(b). Address of Principal Business Office
Item 2(c). Citizenship
This Schedule 13G/A is being filed on behalf of each of the following
persons (each, a "Reporting Person"):
Highbridge International LLC
The Cayman Corporate Centre, 4th Floor
27 Hospital Road
Grand Cayman, Cayman Islands, British West Indies
Citizenship: Cayman Islands, British West Indies
Highbridge Capital Corporation
The Cayman Corporate Centre, 4th Floor
27 Hospital Road
Grand Cayman, Cayman Islands, British West Indies
Citizenship: Cayman Islands, British West Indies
Highbridge Capital Management, LLC
9 West 57th Street, 27th Floor
New York, New York 10019
Citizenship: State of Delaware
Glenn Dubin
c/o Highbridge Capital Management, LLC
9 West 57th Street, 27th Floor
New York, New York 10019
Citizenship: United States
Henry Swieca
c/o Highbridge Capital Management, LLC
9 West 57th Street, 27th Floor
New York, New York 10019
Citizenship: United States
(d) Title of Class of Securities
Common Stock
(e) CUSIP Number
505401208
Item 3. If this statement is filed pursuant to Rule 13d-1(b), or 13d-2(b),
check whether the person filing is a:
(a) [X] 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);
(h) [ ] A savings associations 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. [ ]
Item 4. Ownership
(a) Amount Beneficially Owned
$70,000,000 in aggregate principal amount of 6.25% Convertible
Subordinated Notes (the "Notes") due June 15, 2007 (convertible into
1,845,041 shares of the issuer's common stock (conversion rate of
137.741 shares per $1,000 principal amount of the notes)). /1/
(b) Percent of Class
Approximately 4.21%. (Based on 41,979,929 shares of Common Stock
issued and outstanding as reported on the Issuer's latest 10Q filed
on November 15, 2004, plus the Reporting Persons' shares of Common
Stock issuable upon the conversion of the Notes.)
(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 (a) above.
(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 (a) above.
/1/ Highbridge International LLC is a wholly owned subsidiary of Highbridge
Capital Corporation. Highbridge Capital Management, LLC is the trading manager
of Highbridge Capital Corporation. Highbridge Capital Management, LLC is
exempt from registration as an investment adviser. Glenn Dubin is a Managing
Partner of Highbridge Capital Management, LLC. Henry Swieca is a Managing
Partner of Highbridge Capital Management, LLC. The persons at Highbridge
Capital Management, LLC who actually exercise the power to dispose of and the
power to vote the investments of Highbridge Capital Corporation are registered
as registered representatives of Highbridge Capital Corporation, a registered
broker/dealer. As of December 31, 2004, the Notes reported herein by the
Reporting Persons may acquire in the future through the conversion of the 6.25%
Convertible Subordinated Notes due June 15, 2007 of the Issuer, which may be
converted by the Reporting Persons at any time prior to and including June 15,
2007 (the "Maturity Date") into 1,845,041 shares of the Issuer's common stock
(the Notes are convertible into 137.741 shares of common stock per $1,000
principal amount of notes). Based on the Issuer's latest Form 10Q filed on
November 15, 2004, there were 41,979,929 shares of Common Stock outstanding as
of November 4, 2004. Therefore, with the issuer's outstanding shares of
Common Stock plus the Reporting Persons' shares of Common Stock issuable upon
the conversion of the Notes, the Reporting Persons may be deemed to
beneficially own approximately 4.21% of the outstanding shares of common stock
of the Issuer. The foregoing should not be construed in and of itself as an
admission by any Reporting Person as to beneficial ownership of shares of
Common Stock owned by another Reporting Person.
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].
Item 6. Ownership of More than Five Percent on Behalf of Another Person.
Inapplicable
Item 7. Identification and Classification of the Subsidiary Which Acquired
the Security Being Reported on By the Parent Holding Company
See Item 2 above.
Item 8. Identification and Classification of Members of the Group
See Item 2 above.
Item 9. Notice of Dissolution of Group
Inapplicable
Item 10. Certification
By signing below I certify that, to the best of my knowledge and belief,
the securities referred to above were acquired and are held in the ordinary
course of business and 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.
SIGNATURE
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 this 14th day of February, 2005
Highbridge International LLC
By: /s/ Howard Feitelberg
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Howard Feitelberg, Director
Highbridge Capital Corporation
By: /s/ Howard Feitelberg
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Howard Feitelberg, Controller
Highbridge Capital Management, LLC
By: /s/ Ronald S. Resnick
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Ronald Resnick, Managing Partner
/s/ Glenn Dubin
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Glenn Dubin
/s/ Henry Swieca
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Henry Swieca
Exhibit Index
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Exhibit Description
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1 Joint Filing Agreement