UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940 |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | SEC 1473 (7-02) | ||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. |
1. Title of Derivative Security (Instr. 4) |
2. Date Exercisable and Expiration Date (Month/Day/Year) |
3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) |
4. Conversion or Exercise Price of Derivative Security | 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5) |
6. Nature of Indirect Beneficial Ownership (Instr. 5) |
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Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||
Class A Convertible Participating Preferred Stock | 04/20/2010 | Â (2) | Class A Common Stock | 85,172 (3) | $ 25 (3) | I | By The Foothill Group, Inc. (1) |
Class A Series 2 Convertible Participating Preferred Stock | 04/20/2010 | Â (2) | Class A Common Stock | 45,585 (3) | $ 25 (3) | I | By The Foothill Group, Inc. (1) (4) |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
WELLS FARGO & CO/MN 420 MONTGOMERY STREET SAN FRANCISCO, CA 94104 |
 |  X |  |  |
FOOTHILL GROUP INC 2450 COLORADO AVENUE SUITE 3000W SANTA MONICA, CA 90404 |
 |  X |  |  |
Mary E. Schaffner, Assistant Secretary of Wells Fargo & Company | 04/20/2010 | |
**Signature of Reporting Person | Date |
* | If the form is filed by more than one reporting person, see Instruction 5(b)(v). |
** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
(1) | The shares of Class A Common Stock and Class A Convertible Participating Preferred Stock of Tropicana Las Vegas Hotel & Casino, Inc. (the "Company") are owned directly by The Foothill Group, Inc. ("Foothill"), a wholly-owned subsidiary of Wells Fargo & Company. Once issued by the Company, the shares of Class A Series 2 Convertible Participating Preferred Stock will be owned directly by Foothill. |
(2) | No expiration date. |
(3) | The initial conversion price per share is $25.00. The number of shares of Class A Common Stock to be issued upon conversion of a share of Class A Convertible Participating Preferred Stock or Class A Series 2 Convertible Participating Preferred Stock can be determined by dividing: (i) the sum of (a) the $100 per share original purchase price of such preferred stock plus (b) the amount of cumulated and unpaid dividends for any prior dividend periods payable with respect to such preferred stock, by (ii) the conversion price at the time of the conversion. |
(4) | The shares of Class A Series 2 Convertible Participating Preferred Stock of the Company will be issued to Foothill on or about the filing date of this Form 3 as consideration for a credit facility between the Company and Foothill. |
 Remarks: The Foothill Group, Inc. ("Foothill") is a party to a Stockholders' Agreement, dated as of July 1, 2009 (the "Stockholders' Agreement"), with all other stockholders of Tropicana Las Vegas Hotel & Casino, Inc. (the "Company").  Pursuant to the Stockholders' Agreement, each of the stockholders may be deemed to be the beneficial owner of all shares of the Company owned by the parties thereto.  Wells Fargo & Company, Foothill and their affiliates disclaim beneficial ownership of all shares of the Company in which they do not have a pecuniary interest. |