UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
---------------------------------
OMB APPROVAL
---------------------------------
OMB Number: 3235-0145
Expires: December 31, 2005
Estimated average burden
hours per response.............11
SCHEDULE 13D
Under the Securities and Exchange Act of 1934
(Amendment No. _____)*
Odetics, Inc.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock
- --------------------------------------------------------------------------------
(Title of Class of Securities)
676065204
- --------------------------------------------------------------------------------
(CUSIP Number)
Sherry Tejeda
11150 Santa Monica Blvd
Suite 750
Los Angeles, CA 90025
(310) 966-1444
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
July 31, 2003
- --------------------------------------------------------------------------------
(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 that is the subject of this Schedule 13D, and is filing
this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the
following box [X_].
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 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. 676065204 13D Page 2 of 5 Pages
________________________________________________________________________________
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
SACC Partners LP; Riley Investment Management LLC; B. Riley & Co., Inc.;
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*
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
________________________________________________________________________________
7 SOLE VOTING POWER
NUMBER OF
2,832,559
SHARES _________________________________________________________________
8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY -0-
_________________________________________________________________
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
2,832,559
PERSON _________________________________________________________________
10 SHARED DISPOSITIVE POWER
WITH
-0-
________________________________________________________________________________
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,832,512
________________________________________________________________________________
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
[_]
________________________________________________________________________________
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
16.13%
________________________________________________________________________________
14 TYPE OF REPORTING PERSON*
PN, IA, BD, IN
________________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 676065204 13D Page 3 of 5 Pages
________________________________________________________________________________
Item 1. Security and Issuer.
Common Stock of Odetics, Inc.
151 South Manchester Avenue
Anaheim, CA 92802
________________________________________________________________________________
Item 2. Identity and Background.
(a) SACC Partners LP (Delaware limited partnership) Riley Investment
Management LLC (Delaware limited liability company) B. Riley & Co.,
Inc. (Delaware corporation) Bryant R. Riley (individual residing in
California)
(b) 11150 Santa Monica Blvd. Suite 750 Los Angeles, CA 90025
(c) Mr. Riley owns all of the outstanding shares of B. Riley & Co., Inc.
("BRC"), an NASD member broker-dealer. Mr. Riley also manages and owns
all of the outstanding membership interests of Riley Investment
Management LLC ("RIM"), a California registered investment adviser.
RIM is the investment adviser to and general partner of SACC Partners
LP ("SACC"). Each entity is located at the address specified in (b)
above.
(d) None
(e) None
(f) United States
________________________________________________________________________________
Item 3. Source and Amount of Funds or Other Consideration.
SACC's purchases were made with SACC partnership funds. BRC's purchases
were made with BRC corporate funds. Mr. Riley's purchases were made with
personal funds.
________________________________________________________________________________
Item 4. Purpose of Transaction.
SACC, BRC and Mr. Riley acquired the issuer's shares for investment
purposes.
________________________________________________________________________________
Item 5. Interest in Securities of the Issuer.
(a) SACC owns 1,833,333 shares of Odetics' common stock. Because RIM has
sole voting and investment power over SACC's security holdings and Mr.
Riley, in his role as the sole manager of RIM, controls RIM's voting
and investment decisions, each of SACC, RIM and Mr. Riley may be
deemed to have beneficial ownership of the 458,568 shares held by
SACC, representing approximately 10.44% of Odetics' outstanding stock.
BRC owns 665,893 shares of Odetics' common stock. Because Mr. Riley
has sole voting and investment power over BRC's security holdings,
both BRC and Mr. Riley may be deemed to have beneficial ownership of
the 121,944 shares of Odetics' common stock, representing
approximately 3.79% of Odetics' outstanding stock.
CUSIP No. 676065204 13D Page 4 of 5 Pages
Mr. Riley personally owns 333,333 shares of Odetics' common stock,
representing approximately 1.90% of Odetics' common stock.
To summarize, Mr. Riley may be deemed to beneficially own a total of
2,832,559 shares of Odetics common stock (16.13%) through his
relationships with SACC, RIM and BRC.
(b) With respect to all of the shares that are held by each of SACC and
BRC, Mr. Riley has sole power to vote and dispose or direct the
disposition of the shares
(c) Please see Exhibit A for SACC's, BRC's and Mr. Riley's transactions
within the past sixty (60) days.
(d) None
(e) Not applicable
________________________________________________________________________________
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect
to Securities of the Issuer.
The relationships between Mr. Riley, SACC, RIM and BRC are described above
under Item 2(c) above. There is no written agreement among the reporting
parties regarding the Odetics shares.
________________________________________________________________________________
Item 7. Material to be Filed as Exhibits.
There are no written agreements amongst the parties relating to the filing
of this joint acquisition statement, nor are there any written agreements,
contracts, arrangements, understandings, plans or proposals relating to (1)
the borrowing of funds to finance the acquisition of shares, (2) the
acquisition of issuer control, liquidation, sale of assets, merger, or
change in business or corporate structure or any matter disclosed in Item
4, or (3) the transfer or voting of securities, finder's fees, joint
ventures, options puts, calls, guarantees of loans, guarantees against loss
or of profit, or the giving or withholding of any proxy.
________________________________________________________________________________
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: August 25, 2003
SACC PARTNERS LP
By: Riley Investment Management LLC,
its General Partner
By: /s/ Bryant R. Riley
------------------------
Bryant R. Riley, President
RILEY INVESTMENT MANAGEMENT LLC
By: /s/ Bryant R. Riley
------------------------
Bryant R. Riley, President
B. RILEY & CO., INC. By: /s/ Bryant R. Riley
------------------------
Bryant R. Riley, CEO
By: /s/ Bryant R. Riley
------------------------
Bryant R. Riley
Attention. Intentional misstatements or omissions of fact constitute federal
criminal violations (see 18 U.S.C. 1001).