Schedule 13G

UNITED STATES

SECURITIES EXCHANGE COMMISSION

Washington, D.C. 20549

 


 

 

SCHEDULE 13G

 

 

Under the Securities Exchange Act of 1934

 

SpectraSite, Inc.


(Name of Issuer)

 

 

Common Stock


(Title of Class of Securities)

 

 

84761M-10-4


(CUSIP Number)

 

 

May 11, 2004


(Date of Event which Requires Filing of this Statement)

 

 

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

 

¨ Rule 13d-1(b)

 

x Rule 13d-1(c)

 

¨ Rule 13d-1(d)


Page 2 of 10 Pages

CUSIP No. 84761M-10-4

 


  1.  

Names of Reporting Persons.

 

Glenview Capital Management, LLC

 

I.R.S. Identification Nos. of above persons (entities only).

 

13-4136746

   

  2.  

Check the Appropriate Box if a Member of a Group

 

(a)  x

(b)  ¨

   

  3.  

SEC Use Only

 

   

  4.  

Citizenship or Place of Organization

 

Delaware, United States

   

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person

With

 

  5.    Sole Voting Power

 

         None


  6.    Shared Voting Power

 

         2,700,000


  7.    Sole Dispositive Power

 

         None


  8.    Shared Dispositive Power

 

         2,700,000


  9.  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

2,700,000

   

10.  

Check if the Aggregate Amount in Row (9) Excludes Certain Shares    ¨

 

   

11.  

Percent of Class Represented by Amount in Row (9)

 

5.592% based on 48,279,518 shares outstanding as of April 14, 2004.

   

12.  

Type of Reporting Person:

 

OO

   

 


Page 3 of 10 Pages

 


  1.  

Names of Reporting Persons.

 

Glenview Capital GP, LLC

 

I.R.S. Identification Nos. of above persons (entities only).

 

13-4136749

   

  2.  

Check the Appropriate Box if a Member of a Group

 

(a)  x

(b)  ¨

   

  3.  

SEC Use Only

 

   

  4.  

Citizenship or Place of Organization

 

Delaware, United States

   

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person

With

 

  5.    Sole Voting Power

 

         None


  6.    Shared Voting Power

 

         2,700,000


  7.    Sole Dispositive Power

 

         None


  8.    Shared Dispositive Power

 

         2,700,000


  9.  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

2,700,000

   

10.  

Check if the Aggregate Amount in Row (9) Excludes Certain Shares    ¨

 

   

11.  

Percent of Class Represented by Amount in Row (9)

 

5.592% based on 48,279,518 shares outstanding as of April 14, 2004.

   

12.  

Type of Reporting Person:

 

OO

   


Page 4 of 10 Pages

 


  1.  

Names of Reporting Persons.

 

Glenview Capital Partners, L.P.

 

I.R.S. Identification Nos. of above persons (entities only).

 

13-4141851

   

  2.  

Check the Appropriate Box if a Member of a Group

 

(a)  x

(b)  ¨

   

  3.  

SEC Use Only

 

   

  4.  

Citizenship or Place of Organization

 

Delaware, United States

   

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person

With

 

  5.    Sole Voting Power

 

         None


  6.    Shared Voting Power

 

         2,700,000


  7.    Sole Dispositive Power

 

         None


  8.    Shared Dispositive Power

 

         2,700,000


  9.  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

2,700,000

   

10.  

Check if the Aggregate Amount in Row (9) Excludes Certain Shares    ¨

 

   

11.  

Percent of Class Represented by Amount in Row (9)

 

5.592% based on 48,279,518 shares outstanding as of April 14, 2004.

   

12.  

Type of Reporting Person:

 

PN

   


Page 5 of 10 Pages

 


  1.  

Names of Reporting Persons.

 

Glenview Capital Master Fund, Ltd.

 

I.R.S. Identification Nos. of above persons (entities only).

 

98-0385693

   

  2.  

Check the Appropriate Box if a Member of a Group

 

(a)  x

(b)  ¨

   

  3.  

SEC Use Only

 

   

  4.  

Citizenship or Place of Organization

 

Cayman Islands, British West Indies

   

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person

With

 

  5.    Sole Voting Power

 

         None


  6.    Shared Voting Power

 

         2,700,000


  7.    Sole Dispositive Power

 

         None


  8.    Shared Dispositive Power

 

         2,700,000


  9.  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

2,700,000

   

10.  

Check if the Aggregate Amount in Row (9) Excludes Certain Shares    ¨

 

   

11.  

Percent of Class Represented by Amount in Row (9)

 

5.592% based on 48,279,518 shares outstanding as of April 14, 2004.

   

12.  

Type of Reporting Person:

 

OO

   


Page 6 of 10 Pages

 


  1.  

Names of Reporting Persons.

 

Glenview Institutional Partners, L.P.

 

I.R.S. Identification Nos. of above persons (entities only).

 

13-4153722

   

  2.  

Check the Appropriate Box if a Member of a Group

 

(a)  x

(b)  ¨

   

  3.  

SEC Use Only

 

   

  4.  

Citizenship or Place of Organization

 

Delaware, United States

   

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person

With

 

  5.    Sole Voting Power

 

         None


  6.    Shared Voting Power

 

         2,700,000


  7.    Sole Dispositive Power

 

         None


  8.    Shared Dispositive Power

 

         2,700,000


  9.  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

2,700,000

   

10.  

Check if the Aggregate Amount in Row (9) Excludes Certain Shares    ¨

 

   

11.  

Percent of Class Represented by Amount in Row (9)

 

5.592% based on 48,279,518 shares outstanding as of April 14, 2004.

   

12.  

Type of Reporting Person

 

PN

   


Page 7 of 10 Pages

 


  13.  

Names of Reporting Persons.

 

GCM Little Arbor Master Fund, Ltd.

 

I.R.S. Identification Nos. of above persons (entities only).

 

20-1029106

   

  14.  

Check the Appropriate Box if a Member of a Group

 

(a)  x

(b)  ¨

   

  15.  

SEC Use Only

 

   

  16.  

Citizenship or Place of Organization

 

Cayman Islands, British West Indies

   

Number of

Shares

Beneficially

Owned by

Each

Reporting

Person

With

 

  17.    Sole Voting Power

 

           None


  18.    Shared Voting Power

 

           2,700,000


  19.    Sole Dispositive Power

 

           None


  20.    Shared Dispositive Power

 

           2,700,000


21.  

Aggregate Amount Beneficially Owned by Each Reporting Person

 

2,700,000

   

22.  

Check if the Aggregate Amount in Row (9) Excludes Certain Shares    ¨

 

   

23.  

Percent of Class Represented by Amount in Row (9)

 

5.592% based on 48,279,518 shares outstanding as of April 14, 2004.

   

24.  

Type of Reporting Person

 

OO

   


Page 8 of 10 Pages

 

Item 1(a).

 

Name of Issuer:

   

SpectraSite, Inc.

Item 1(b).

 

Address of Issuer’s Principal Executive Offices:

 

100 Regency Forest, Suite 400

Cary, North Carolina 27511

888-468-0112

Item 2(a).

  Name of Person Filing

Item 2(b).

  Address of Principal Business Office or, if None, Residence

Item 2(c).

  Citizenship
   

Glenview Capital Management, LLC

399 Park Avenue, Floor 39

New York, New York 10022

Delaware limited liability company

   

Glenview Capital GP, LLC

399 Park Avenue, Floor 39

New York, New York 10022

Delaware limited liability company

   

Glenview Capital Partners, L.P.

399 Park Avenue, Floor 39

New York, New York 10022

Delaware limited partnership

   

Glenview Institutional Partners, L.P.

399 Park Avenue, Floor 39

New York, New York 10022

Delaware limited partnership

   

Glenview Capital Master Fund, Ltd.

c/o Goldman Sachs (Cayman) Trust, Limited

Harbour Centre, North Church Street

P.O. Box 896GT

George Town, Grand Cayman

Cayman Islands, British West Indies

Cayman Island exempted company

   

GCM Little Arbor Master Fund, Ltd.

c/o Goldman Sachs (Cayman) Trust, Limited

Harbour Centre, North Church Street

P.O. Box 896GT

George Town, Grand Cayman

Cayman Islands, British West Indies

Cayman Island exempted company


Page 9 of 10 Pages

 

Item2(d).

 

Title of Class of Securities:

    Common Stock
Item 2(e).   CUSIP Number:
    84761M-10-4

Item 3.

  If This Statement is Filed Pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), Check Whether the Person Filing is a:
    (a) Broker or dealer registered under Section 15 of the Act.
    (b) Bank as defined in Section 3(a)(6) of the Act.
    (c) Insurance company as defined in Section 3(a)(19) of the Act.
    (d) Investment company registered under Section 8 of the Investment Company Act of 1940.
    (e) An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E);
    (f) An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F);
    (g) A parent holding company or control person in accordance with §240.13d-1(b)(1)(ii)(G);
    (h) A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act;
   

(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;

    (j) Group, in accordance with §240.13d-1(b)(1)(ii)(J).

Item 4.

  Ownership:
    Glenview Capital Management, LLC
    Glenview Capital GP, LLC
    Glenview Capital Partners, L.P.
    Glenview Institutional Partners, L.P.
    Glenview Capital Master Fund, Ltd.
    GCM Little Arbor Master Fund, Ltd.
    a. Amount beneficially owned: Glenview Capital Partners, L.P. beneficially owns 287,264 shares, Glenview Institutional Partners, L.P. beneficially owns 804,800 shares, Glenview Capital Master Fund, Ltd. beneficially owns 1,571,536 shares, and GCM Little Arbor Master Fund, Ltd. beneficially owns 36,400 shares for an aggregate total of 2,700,000 shares.
    b. Percent of Class: 5.592% based on 48,279,518 shares outstanding as of April 14, 2004.


Page 10 of 10 Pages

 

The sole power to vote or direct the vote of the entire shareholding and the sole power to dispose of or direct the disposal of the entire shareholding has been delegated to Glenview Capital Management, LLC as Investment Manager for each of Glenview Capital Partners, L.P., Glenview Institutional Partners, L.P., Glenview Capital Master Fund, Ltd. and GCM Little Arbor Master Fund, Ltd. In addition, Glenview Capital GP, LLC serves as general partner for each of Glenview Capital Partners, L.P. and Glenview Institutional Partners, L.P.

Item 5.

  Ownership of Five Percent or Less of a Class:
    Not applicable

Item 6.

  Ownership of More than Five Percent on Behalf of Another Person:
    Not applicable

Item 7.

  Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company of Control Person:
    Not applicable.

Item 8.

  Identification and Classification of Members of the Group:
    Not applicable.

Item 9.

  Notice of Dissolution of Group:
    Not applicable.

Item 10.

  Certification:
    By signing below I certify that, to the best of my knowledge and belief, the securities referred to above 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 my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

 

May 21, 2004


Date

/s/ Lawrence M. Robbins


Lawrence M. Robbins, Chief Executive Officer

 

GLENVIEW CAPITAL MANAGEMENT, LLC

/s/ Lawrence M. Robbins


Lawrence M. Robbins, Chief Executive Officer

GLENVIEW CAPITAL GP, LLC

/s/ Lawrence M. Robbins


Lawrence M. Robbins, Chief Executive Officer

GLENVIEW CAPITAL PARTNERS, L.P.

By:

 

Glenview Capital GP, LLC

   

as General Partner

/s/ Lawrence M. Robbins


Lawrence M. Robbins, Chief Executive Officer

GLENVIEW INSTITUTIONAL PARTNERS, L.P.

By:

 

Glenview Capital GP, LLC

   

as General Partner

/s/ Lawrence M. Robbins


Lawrence M. Robbins, Chief Executive Officer

GLENVIEW CAPITAL MASTER FUND, LTD.

By:

 

Glenview Capital Management, LLC

   

as Investment Manager

/s/ Lawrence M. Robbins


Lawrence M. Robbins, Chief Executive Officer

GCM LITTLE ARBOR MASTER FUND, LTD.

By:

 

Glenview Capital Management, LLC

   

as Investment Manager

/s/ Lawrence M. Robbins


Lawrence M. Robbins, Chief Executive Officer