SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
(RULE 13d-2-101)
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. 5)(1)
SILICON STORAGE TECHNOLOGY, INC.
(Name of Issuer)
COMMON STOCK
(Title of Class of Securities)
827057100
(CUSIP Number)
RILEY INVESTMENT MANAGEMENT LLC
ATTN: BRYANT R. RILEY
11100 SANTA MONICA BLVD.
SUITE 810
LOS ANGELES, CA 90025
(310) 966-1445
(Name, Address and Telephone Number of Person Authorized to Receive Notices
and Communications)
February 13, 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 which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), 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(b) for other
parties to whom copies are to be sent.
(Continued on following pages)
--------------
1 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. 827057100 13D Page 2
--------- ----------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR IRS. IDENTIFICATION NO. OF ABOVE PERSON
Riley Investment Partners Master Fund, L.P.
--------- ----------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
--------- ----------------------------------------------------------------------
3 SEC USE ONLY
--------- ----------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
--------- ----------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e)
[ ]
--------- ----------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
---------------------- ------ --------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 903,775
------ --------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY -0-
------ --------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 903,775
------ --------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH -0-
---------------------- ------ --------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
903,775
--------- ----------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES SHARES*
[ ]
--------- ----------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.0%(1)
--------- ----------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
--------- ----------------------------------------------------------------------
------------------------
(1) Based on 95,492,192 shares of common stock of Silicon Storage Technology,
Inc. (the "Issuer") outstanding at October 31, 2008, as reported in the Issuer's
Quarterly Report on Form 10-Q for the quarter ended September 30, 2008 filed
with the Securities and Exchange Commission on November 10, 2008.
CUSIP No. 827057100 13D Page 3
--------- ----------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR IRS. IDENTIFICATION NO. OF ABOVE PERSON
Riley Investment Management LLC
--------- ----------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
--------- ----------------------------------------------------------------------
3 SEC USE ONLY
--------- ----------------------------------------------------------------------
4 SOURCE OF FUNDS*
AF
--------- ----------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e)
[ ]
--------- ----------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
---------------------- ------ --------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 3,569,366(2)
------ --------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 509,876(3)
------ --------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 3,569,366(2)
------ --------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH 509,876(3)
---------------------- ------ --------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,569,366(3)
--------- ----------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES SHARES*
[x]
--------- ----------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.7%(1)
--------- ----------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IA
--------- ----------------------------------------------------------------------
------------------------
(2) Because Riley Investment Management LLC has sole investment and voting power
over 903,775 shares of Common Stock held by Riley Investment Partners Master
Fund, L.P. and 2,665,591 shares held by its investment advisory clients, Riley
Investment Management LLC may be deemed to have beneficial ownership of these
shares.
(3) Riley Investment Management LLC has shared voting and dispositive power over
509,876 shares of Common Stock held in accounts of its investment advisory
clients. Riley Investment Management LLC disclaims beneficial ownership of
these shares.
CUSIP No. 827057100 13D Page 4
--------- ----------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR IRS. IDENTIFICATION NO. OF ABOVE PERSON
B. Riley & Co. Retirement Trust
--------- ----------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
--------- ----------------------------------------------------------------------
3 SEC USE ONLY
--------- ----------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
--------- ----------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e)
[ ]
--------- ----------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
California
---------------------- ------ --------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 50,000
------ --------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY -0-
------ --------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 50,000
------ --------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH -0-
---------------------- ------ --------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
50,000
--------- ----------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES SHARES*
[ ]
--------- ----------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
.1%(1)
--------- ----------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
--------- ----------------------------------------------------------------------
CUSIP No. 827057100 13D Page 5
-------- -----------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR IRS. IDENTIFICATION NO. OF ABOVE PERSON
B. Riley & Co., LLC
-------- -----------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
-------- -----------------------------------------------------------------------
3 SEC USE ONLY
-------- -----------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
-------- -----------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e)
[ ]
-------- -----------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
---------------------- ------ --------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 24,898
------ --------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY -0-
------ --------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 24,898
------ --------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH -0-
---------------------- ------ --------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
24,898
--------- ----------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES SHARES* [ ]
--------- ----------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.0%(1)
--------- ----------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
BD
--------- ----------------------------------------------------------------------
------------------------
CUSIP No. 827057100 13D Page 6
--------- ----------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR IRS. IDENTIFICATION NO. OF ABOVE PERSON
Bryant R. Riley
--------- ----------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
--------- ----------------------------------------------------------------------
3 SEC USE ONLY
--------- ----------------------------------------------------------------------
4 SOURCE OF FUNDS*
AF, WC
--------- ----------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e)
[ ]
--------- ----------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
---------------------- ------ --------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 3,652,264(4)
------ --------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 509,876(5)
------ --------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 3,652,264(4)
------ --------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH 509,876(5)
---------------------- ------ --------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,644,264 (4,5)
--------- ----------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES SHARES*
[x]
--------- ----------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.8%(1)
--------- ----------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
--------- ----------------------------------------------------------------------
------------------------
(4) Because Riley Investment Management LLC has sole voting and investment power
over security holdings of Riley Investment Partners Master Fund, L.P.'s and
certain managed accounts of its investment advisory clients and Mr. Riley, in
his role as the sole manager of Riley Investment Management LLC, controls its
voting and investment decisions, each of Riley Investment Management LLC and Mr.
Riley may be deemed to have beneficial ownership of the 903,775 shares of Common
Stock held by Riley Investment Partners Master Fund, L.P. and 2,665,591 shares
held in managed accounts by its investment advisory clients. Includes 50,000
shares held by the B. Riley & Co. Retirement Trust, of which Mr. Riley is the
trustee. Includes 24,898 shares held by B. Riley & Co., LLC over which Mr. Riley
has sole voting and dispositive power. Includes 8,000 shares held by Mr. Riley's
children. Beneficial ownership of these shares are disclaimed.
(5) Riley Investment Management LLC has shared voting and dispositive power over
509,876 shares of Common Stock held in accounts of its investment advisory
clients. Mr. Riley disclaims beneficial ownership of these shares.
CUSIP No. 827057100 13D Page 7
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
(c) In the ordinary course of business, BRC may effect
transactions in connection with its ordinary course market
making activities, as well as for customer transactions. On
January 5, 2009, an investment advisory client sold 656,470
shares to another investment advisory client at a per share
price of $2.25. On January 13, 2009, an investment advisory
client sold 289,901 shares to another investment advisory
client at a per share price of $2.16. On January 15, 2009, BRC
sold 100,000 shares to an investment advisory client at a per
share price of $2.25. The following are the other transactions
effected by the Reporting Persons in Common Stock that have
taken place in the past 60 Days:
TRAN CODE QUANTITY PRICE TRADE DATE
Investment Advisory Client SL 340,454 1.9 2/13/2009
SL 1,400,000 1.9 2/13/2009
BRC SL 400,000 1.9 2/13/2009
SL 400 1.95 2/13/2009
SL 500 1.966 2/13/2009
Master Fund SL 5,000 1.9 2/13/2009
(e) February 13, 2009
CUSIP No. 827057100 13D Page 8
SIGNATURE
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.
Date: February 18, 2009
Riley Investment Partners Master Fund, L.P.
By: Riley Investment Management LLC,
its General Partner
By: /s/ Bryant R. Riley
---------------------------------------
Bryant R. Riley, Managing Member
Riley Investment Management LLC
By: /s/ Bryant R. Riley
---------------------------------------
Bryant R. Riley, Managing Member
B. Riley & Co. Retirement Trust
By: /s/ Bryant R. Riley
---------------------------------------
Bryant R. Riley, Trustee
B. Riley & Co., LLC
By: s/ Bryant R. Riley
---------------------------------------
Bryant R. Riley, Chairman
By: /s/ Bryant R. Riley
---------------------------------------
Bryant R. Riley