UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 6)*
BLUEFLY, INC.
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(Name of Issuer)
Common Stock, $0.01 par value per share
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(Title of Class of Securities)
096227301
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(CUSIP Number)
Maverick Capital, Ltd.
Attention: General Counsel
300 Crescent Court, 18th Floor
Dallas, Texas 75201
(214) 880-4000
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(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
September 7, 2011
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(Date of Event Which Requires Filing of this Amendment)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition that is the subject of this Schedule 13D, and is filing this
schedule because of ss. 240.13d-1(e), 240.13d-1(f) or 240.13d-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.
* 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).
(Continued on following pages)
SCHEDULE 13D
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CUSIP No. 096227301 Page 2 of 9 Pages
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1 NAME OF REPORTING PERSONS
Maverick Capital, Ltd.
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
75-2482446
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See
Instructions)
(a) [ ]
(b) [ x ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS (See Instructions)
OO
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Texas
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| 7 | SOLE VOTING POWER
| |
| | 3,723,897
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NUMBER OF | 8 | SHARED VOTING POWER
SHARES | |
BENEFICIALLY | | 0
OWNED BY ----------------------------------------------------------
EACH | 9 | SOLE DISPOSITIVE POWER
REPORTING | |
PERSON | | 3,723,897
WITH ----------------------------------------------------------
| 10 | SHARED DISPOSITIVE POWER
| |
| | 0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,723,897
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES (See Instructions) [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13.2%
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14 TYPE OF REPORTING PERSON (See Instructions)
IA
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CUSIP No. 096227301 Page 3 of 9 Pages
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1 NAME OF REPORTING PERSONS
Maverick Capital Management, LLC
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
75-2686461
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See
Instructions)
(a) [ ]
(b) [ x ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS (See Instructions)
OO
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Texas
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| 7 | SOLE VOTING POWER
| |
| | 3,723,897
----------------------------------------------------------
NUMBER OF | 8 | SHARED VOTING POWER
SHARES | |
BENEFICIALLY | | 0
OWNED BY ----------------------------------------------------------
EACH | 9 | SOLE DISPOSITIVE POWER
REPORTING | |
PERSON | | 3,723,897
WITH ----------------------------------------------------------
| 10 | SHARED DISPOSITIVE POWER
| |
| | 0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,723,897
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES (See Instructions) [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13.2%
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14 TYPE OF REPORTING PERSON (See Instructions)
HC
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CUSIP No. 096227301 Page 4 of 9 Pages
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1 NAME OF REPORTING PERSONS
Lee S. Ainslie III
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See
Instructions)
(a) [ ]
(b) [ x ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS (See Instructions)
OO
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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| 7 | SOLE VOTING POWER
| |
| | 3,723,897
----------------------------------------------------------
NUMBER OF | 8 | SHARED VOTING POWER
SHARES | |
BENEFICIALLY | | 0
OWNED BY ----------------------------------------------------------
EACH | 9 | SOLE DISPOSITIVE POWER
REPORTING | |
PERSON | | 3,723,897
WITH ----------------------------------------------------------
| 10 | SHARED DISPOSITIVE POWER
| |
| | 0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,723,897
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES (See Instructions) [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13.2%
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14 TYPE OF REPORTING PERSON (See Instructions)
IN
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CUSIP No. 096227301 Page 5 of 9 Pages
Item 1. Security and Issuer.
This Amendment No. 6 amends the Schedule 13D filed on June 15,
2006 ("Schedule 13D") and all amendments thereto (this "Amendment") and relates
to the Common Stock, par value $0.01 per share (the "Shares"), of Bluefly, Inc.
(the "Issuer"), a Delaware corporation with its principal executive offices
located at 42 West 39th Street, New York, New York. This Amendment No. 6 is
being filed by the Reporting Persons to report that on September 9, 2011, the
Issuer filed a Form 8-K reporting that it issued 3,666,665 Shares to third party
purchasers on September 7, 2011 in a private placement transaction (the
"Issuance"). As a result of the Issuance, the Reporting Persons' beneficial
ownership was reduced by more than one percent of the Issuer's now outstanding
Shares. The Reporting Persons did not acquire or dispose of any Shares in the
Issuance and have not acquired or disposed of any Shares since filing Amendment
No. 5 to the Schedule 13D.
Item 2. Identity and Background.
(a) This Amendment is being filed on behalf of each of the
following persons (collectively, the "Reporting Persons"):
(i) Maverick Capital, Ltd. ("Maverick Capital"), a
limited partnership organized under the laws of
Texas;
(ii) Maverick Capital Management, LLC ("Maverick"), a
limited liability company organized under the laws
of Texas; and
(iii) Lee S. Ainslie III ("Mr. Ainslie"), a natural
person.
(b) - (c) The Reporting Persons
Maverick Capital is a registered investment adviser under
the Investment Advisers Act of 1940, as amended, that acts as investment manager
of Maverick Fund USA, Ltd. ("Maverick USA"), Maverick Fund, L.D.C. ("Maverick
Fund"), Maverick Fund II, Ltd. ("Maverick Fund II" and, together with Maverick
USA and Maverick Fund, the "Portfolio Funds") which hold Shares of the Issuer,
as more particularly described in Item 6 below. Maverick Capital has its
principal offices at 300 Crescent Court, 18th Floor, Dallas, Texas 75201.
Maverick's principal business purpose is to serve as general
partner of Maverick Capital. Maverick has its principal offices at 300 Crescent
Court, 18th Floor, Dallas, Texas 75201.
Mr. Ainslie is the manager of Maverick who is granted sole
investment discretion pursuant to Maverick's limited liability company
regulations. Mr. Ainslie has his principal office at 767 Fifth Avenue, 11th
Floor, New York, New York 10153.
(d) - (e) During the past five years, to the best of the
Reporting Persons' knowledge, none of the Reporting Persons have been (i)
convicted in a criminal proceeding (excluding traffic violations or similar
misdemeanors) or (ii) a party to a civil proceeding of a judicial or
administrative body of competent jurisdiction and as a result of such proceeding
was or is subject to a judgment, decree or final order enjoining future
violations of, or prohibiting or mandating activities subject to, federal or
state securities laws on finding any violation with respect to such laws.
(f) Mr. Ainslie is a citizen of the United States.
CUSIP No. 096227301 Page 6 of 9 Pages
Item 3. Source and Amount of Funds or Other Considerations.
Not applicable.
Item 4. Purpose of Transaction.
Not applicable.
Item 5. Interest in Securities of the Issuer.
(a) - (b) Based on the information provided by the Issuer, the
number of shares outstanding was 28,280,898 as of September 7, 2011. The
Reporting Persons may be deemed directly or indirectly, including by reason of
their mutual affiliation, to be the beneficial owners of 3,723,897 Shares
(including 19,796 Shares that may be acquired upon the exercise of warrants).
Such Shares constitute approximately 13.2% of the issued and outstanding Shares
(including 19,796 Shares that may be acquired by the Reporting Persons upon the
exercise of warrants).
Maverick is the general partner of Maverick Capital, and pursuant
to the terms of Maverick's limited liability company regulations, Mr. Ainslie
was appointed as manager of Maverick with sole investment discretion. As a
result, Mr. Ainslie, directly and indirectly through Maverick Capital and
Maverick, has the sole power to direct the vote and to direct the disposition of
the 3,723,897 Shares.
(c) Except as disclosed in Item 3, none of the Reporting Persons
has effected any transaction in the Shares during the past sixty days.
(d) To the best knowledge of the Reporting Persons, no other
person has the right to receive or the power to direct the receipt of dividends
from, or the proceeds from the sale of, the Shares beneficially owned by the
Reporting Persons.
(e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect
to Securities of the Issuer.
The Reporting Persons are parties to an Amended and Restated
Voting Agreement that is described in Amendment No. 4 to the Schedule 13D, and a
copy of which was filed as an exhibit to Amendment No. 4 of the Schedule 13D.
On September 7, 2011, the Portfolio Funds, the Issuer, Quantum
Industrial Partners LDC, SFM Domestic Investments, LLC, Prentice Consumer
Partners, LP and Rho Ventures VI, L.P. entered into an Amended and Restated
Registration Rights Agreement, a copy of which is attached as Exhibit B and is
incorporated herein by reference in response to this Item 6.
CUSIP No. 096227301 Page 7 of 9 Pages
Item 7. Materials to be Filed as Exhibits.
The information set forth in the Exhibit Index is incorporated
herein by reference.
CUSIP No. 096227301 Page 8 of 9 Pages
SIGNATURES
After reasonable inquiry and to the best of my knowledge and
belief, the undersigned certifies that the information set forth in this
Amendment is true, complete and correct.
Dated: September 13, 2011
MAVERICK CAPITAL, LTD.
By: Maverick Capital Management, LLC,
its General Partner
By: Lee S. Ainslie III, Manager
By: /s/ John T. McCafferty
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John T. McCafferty
Under Power of Attorney dated
February 13, 2003
MAVERICK CAPITAL MANAGEMENT, LLC
By: Lee S. Ainslie III, Manager
By: /s/ John T. McCafferty
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John T. McCafferty
Under Power of Attorney dated
February 13, 2003
LEE S. AINSLIE III
By: /s/ John T. McCafferty
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John T. McCafferty
Under Power of Attorney dated
February 13, 2003
CUSIP No. 096227301 Page 9 of 9 Pages
EXHIBIT INDEX
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A. Power of Attorney, dated as of February 13, 2003, granted by Mr. Ainslie in
favor of John T. McCafferty.(1)
B. Amended and Restated Registration Rights Agreement, dated as of September 7,
2011 by an among Bluefly, Inc., Quantum Industrial Partners LDC, SFM Domestic
Investments, LLC, Maverick Fund USA, Ltd., Maverick Fund, L.D.C., Maverick Fund
II, Ltd., Prentice Consumer Partners, LP, and Rho Ventures VI, L.P.
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(1) Incorporated by reference to Maverick Capital's Schedule 13G filed with SEC
on February 14, 2003.