FSI
International, Inc.
|
(Name
of Issuer)
|
Common
Stock, No Par Value
|
(Title
of Class of Securities)
|
302633102
|
(CUSIP
Number)
|
Robert
L. Chapman, Jr.
|
Chapman
Capital L.L.C.
|
222
N. Sepulveda Blvd.
|
El
Segundo, CA 90245
|
(310)
662-1900
|
(Name,
Address and Telephone Number of Person Authorized to Receive Notices
and
Communications)
|
June
12, 2007
|
(Date
of Event which Requires Filing of this Statement)
|
*
|
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.
|
SCHEDULE
13D
CUSIP
No. 302633102
|
|||||
|
|
|
|
|
|
1
|
|
NAME
OF REPORTING PERSON
I.R.S.
IDENTIFICATION NO. OF ABOVE PERSON
|
|
|
|
|
|
Chap-Cap
Activist Partners Master Fund, Ltd. - 98-0486684
|
|
|
|
2
|
|
CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See
instructions)
|
|
|
|
|
|
(a) x
|
|
|
|
|
|
(b) ¨
|
|
|
|
3
|
|
SEC
USE ONLY
|
|
|
|
|
|
|
|
|
|
4
|
|
SOURCE
OF FUNDS (SEE INSTRUCTIONS)
|
|
|
|
|
|
|
|||
|
|
WC
|
|
|
|
5
|
|
CHECK
BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d)
or 2(e)
|
|
¨
|
|
|
|
Not
Applicable
|
|
|
|
6
|
|
CITIZENSHIP
OR PLACE OF ORGANIZATION
|
|
|
|
|
|
|
|||
|
|
Cayman
Islands
|
|
|
|
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
|
7 SOLE
VOTING POWER
|
||||
|
|||||
0
|
|||||
8 SHARED
VOTING POWER
|
|||||
|
|||||
1,325,328
Common
Shares
|
|||||
9 SOLE
DISPOSITIVE POWER
|
|||||
|
|||||
1,325,328
Common
Shares
|
|||||
10 SHARED
DISPOSITIVE POWER
|
|||||
|
|||||
0
|
11
|
|
AGGREGATE
AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
|
|
|
|
|
1,325,328
Common
Shares
|
|
|
12
|
|
CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(SEE INSTRUCTIONS)
|
|
¨
|
|
|
|
|
|
13
|
|
PERCENT
OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
|
|
|
|
|
|
||
|
|
4.4%
|
|
|
14
|
|
TYPE
OF REPORTING PERSON (SEE INSTRUCTIONS)
|
|
|
|
|
|
||
|
|
CO
|
|
|
SCHEDULE
13D
CUSIP
No. 302633102
|
|||||
|
|
|
|
|
|
1
|
|
NAME
OF REPORTING PERSON
I.R.S.
IDENTIFICATION NO. OF ABOVE PERSON
|
|
|
|
|
|
Chap-Cap
Partners II Master Fund, Ltd. -
98-0486687
|
|
|
|
2
|
|
CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(SEE INSTRUCTIONS)
|
|
|
|
|
|
(a) x
|
|
|
|
|
|
(b) ¨
|
|
|
|
3
|
|
SEC
USE ONLY
|
|
|
|
|
|
|
|
|
|
4
|
|
SOURCE
OF FUNDS (SEE INSTRUCTIONS)
|
|
|
|
|
|
|
|||
|
|
WC
|
|
|
|
5
|
|
CHECK
BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d)
or 2(e)
|
|
¨
|
|
|
|
Not
Applicable
|
|
|
|
6
|
|
CITIZENSHIP
OR PLACE OF ORGANIZATION
|
|
|
|
|
|
|
|||
|
|
Cayman
Islands
|
|
|
|
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
_______________
|
7 SOLE
VOTING POWER
|
||||
|
|||||
0
|
|||||
8 SHARED
VOTING POWER
|
|||||
|
|||||
985,896
Common
Shares
|
|||||
9 SOLE
DISPOSITIVE POWER
|
|||||
|
|||||
985,896
Common
Shares
|
|||||
10 SHARED
DISPOSITIVE POWER
|
|||||
|
|||||
0
|
11
|
|
AGGREGATE
AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
|
|
|
|
|
985,896
Common
Shares
|
|
|
12
|
|
CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(SEE INSTRUCTIONS)
|
|
¨
|
|
|
|
|
|
13
|
|
PERCENT
OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
|
|
|
|
|
|
||
|
|
3.2%
|
|
|
14
|
|
TYPE
OF REPORTING PERSON (SEE INSTRUCTIONS)
|
|
|
|
|
|
||
|
|
CO
|
|
|
SCHEDULE
13D
CUSIP
No. 302633102
|
|||||
|
|
|
|
|
|
1
|
|
NAME
OF REPORTING PERSON
I.R.S.
IDENTIFICATION NO. OF ABOVE PERSON
|
|
|
|
|
|
Chapman
Capital L.L.C. - 52-1961967
|
|
|
|
2
|
|
CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(SEE INSTRUCTIONS)
|
|
|
|
|
|
(a) x
|
|
|
|
|
|
(b) ¨
|
|
|
|
3
|
|
SEC
USE ONLY
|
|
|
|
|
|
|
|
|
|
4
|
|
SOURCE
OF FUNDS (SEE INSTRUCTIONS)
|
|
|
|
|
|
|
|||
|
|
WC
|
|
|
|
5
|
|
CHECK
BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d)
or 2(e)
|
|
¨
|
|
|
|
Not
Applicable
|
|
|
|
6
|
|
CITIZENSHIP
OR PLACE OF ORGANIZATION
|
|
|
|
|
|
|
|||
|
|
Delaware
|
|
|
|
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
_______________
|
7 SOLE
VOTING POWER
|
||||
|
|||||
0
|
|||||
8 SHARED
VOTING POWER
|
|||||
|
|||||
2,311,224
Common Shares
|
|||||
9 SOLE
DISPOSITIVE POWER
|
|||||
|
|||||
0
|
|||||
10 SHARED
DISPOSITIVE POWER
|
|||||
|
|||||
2,311,224
Common Shares
|
11
|
|
AGGREGATE
AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
|
|
|
|
|
2,311,224
Common Shares
|
|
|
12
|
|
CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(SEE INSTRUCTIONS)
|
|
¨
|
|
|
|
|
|
13
|
|
PERCENT
OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
|
|
|
|
|
|
||
|
|
7.6%
|
|
|
14
|
|
TYPE
OF REPORTING PERSON (SEE INSTRUCTIONS)
|
|
|
|
|
|
||
|
|
IA
|
|
|
SCHEDULE
13D
CUSIP
No. 302633102
|
|||||
|
|
|
|
|
|
1
|
|
NAME
OF REPORTING PERSON
I.R.S.
IDENTIFICATION NO. OF ABOVE PERSON
|
|
|
|
|
|
Robert
L. Chapman, Jr.
|
|
|
|
2
|
|
CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(SEE INSTRUCTIONS)
|
|
|
|
|
|
(a) x
|
|
|
|
|
|
(b) ¨
|
|
|
|
3
|
|
SEC
USE ONLY
|
|
|
|
|
|
|
|
|
|
4
|
|
SOURCE
OF FUNDS (SEE INSTRUCTIONS)
|
|
|
|
|
|
|
|||
|
|
Not
Applicable
|
|
|
|
5
|
|
CHECK
BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d)
or 2(e)
|
|
¨
|
|
|
|
Not
Applicable
|
|
|
|
6
|
|
CITIZENSHIP
OR PLACE OF ORGANIZATION
|
|
|
|
|
|
|
|||
|
|
United
States
|
|
|
|
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
_______________
|
7 SOLE
VOTING POWER
|
||||
|
|||||
0
|
|||||
8 SHARED
VOTING POWER
|
|||||
|
|||||
2,311,224
Common Shares
|
|||||
9 SOLE
DISPOSITIVE POWER
|
|||||
|
|||||
0
|
|||||
10 SHARED
DISPOSITIVE POWER
|
|||||
|
|||||
2,311,224
Common Shares
|
11
|
|
AGGREGATE
AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
|
|
|
|
|
2,311,224
Common Shares
|
|
|
12
|
|
CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(SEE INSTRUCTIONS)
|
|
¨
|
|
|
|
|
|
13
|
|
PERCENT
OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
|
|
|
|
|
|
||
|
|
7.6%
|
|
|
14
|
|
TYPE
OF REPORTING PERSON (SEE INSTRUCTIONS)
|
|
|
|
|
|
||
|
|
IN
|
|
|
Date
|
Security
|
Amount
of
Shares/Contracts
Bought/(Sold)
|
Approximate
Price per
Shares/Contracts
(inclusive
of
commissions)
|
04/20/07
|
CS
|
2,661
|
$ 4.28
|
04/20/07
|
CS
|
256
|
$ 4.24
|
04/23/07
|
CS
|
2,700
|
$ 4.23
|
04/24/07
|
CS
|
800
|
$ 4.24
|
04/27/07
|
CS
|
320
|
$ 4.24
|
04/30/07
|
CS
|
2,200
|
$ 4.23
|
05/01/07
|
CS
|
6,030
|
$ 4.22
|
05/03/07
|
CS
|
1,650
|
$ 4.22
|
05/07/07
|
CS
|
1,600
|
$ 4.21
|
05/08/07
|
CS
|
1,959
|
$ 4.18
|
05/09/07
|
CS
|
6,076
|
$ 4.17
|
05/10/07
|
CS
|
365
|
$ 4.16
|
05/17/07
|
CS
|
4,848
|
$ 4.15
|
05/18/07
|
CS
|
500
|
$ 4.16
|
05/21/07
|
CS
|
900
|
$ 4.16
|
05/24/07
|
CS
|
650
|
$ 4.16
|
06/07/07
|
CS
|
5,400
|
$ 4.15
|
06/08/07
|
CS
|
537
|
$ 4.14
|
06/11/07
|
CS
|
7,963
|
$ 4.13
|
06/12/07
|
CS
|
1,400
|
$ 4.01
|
Date
|
Security
|
Amount
of
Shares/Contracts
Bought/(Sold)
|
Approximate
Price per
Shares/Contracts
(inclusive
of
commissions)
|
04/20/07
|
CS
|
10,600
|
$ 4.28
|
04/20/07
|
CS
|
800
|
$ 4.24
|
04/23/07
|
CS
|
4,900
|
$ 4.23
|
04/24/07
|
CS
|
1,600
|
$ 4.24
|
04/27/07
|
CS
|
800
|
$ 4.24
|
04/30/07
|
CS
|
8,700
|
$ 4.23
|
05/01/07
|
CS
|
23,900
|
$ 4.22
|
05/03/07
|
CS
|
6,400
|
$ 4.22
|
05/04/07
|
CS
|
10,000
|
$ 4.21
|
05/07/07
|
CS
|
6,400
|
$ 4.21
|
05/08/07
|
CS
|
7,900
|
$ 4.18
|
05/09/07
|
CS
|
24,300
|
$ 4.17
|
05/10/07
|
CS
|
400
|
$ 4.16
|
05/17/07
|
CS
|
8,900
|
$ 4.15
|
05/18/07
|
CS
|
517
|
$ 4.16
|
05/21/07
|
CS
|
981
|
$ 4.16
|
05/24/07
|
CS
|
704
|
$ 4.16
|
06/07/07
|
CS
|
21,400
|
$ 4.15
|
06/08/07
|
CS
|
900
|
$ 4.14
|
06/11/07
|
CS
|
14,800
|
$ 4.13
|
06/12/07
|
CS
|
2,600
|
$ 4.01
|
Exhibit A
|
|
Joint
Filing Agreement, dated March 30, 2007, among Chap-Cap Partners
II Master Fund, Ltd., Chap-Cap Activist Partners Master Fund,
Ltd.,
Chapman Capital L.L.C., and Robert L. Chapman,
Jr.
|
Dated: June
13, 2007
|
Chap-Cap
Partners II Master Fund, Ltd.
|
|||
|
By:
Chapman Capital L.L.C.,
|
|||
|
as
Investment Manager
|
|||
|
|
|||
|
By:
|
/s/
Robert L. Chapman, Jr.
|
|
|
|
|
Name:
Robert L. Chapman, Jr.
|
||
|
|
Title:
Managing Member
|
||
|
|
|||
|
|
|||
Dated: June
13, 2007
|
Chap-Cap
Activist Partners Master Fund, Ltd.
|
|||
|
By:
Chapman Capital L.L.C.,
|
|||
|
as
Investment Manager
|
|||
|
|
|||
|
By:
|
/s/
Robert L. Chapman, Jr.
|
|
|
|
|
Name:
Robert L. Chapman, Jr.
|
||
|
|
Title:
Managing Member
|
||
|
|
|||
|
|
|||
Dated: June
13, 2007
|
CHAPMAN
CAPITAL L.L.C.
|
|||
|
|
|||
|
By:
|
/s/
Robert L. Chapman, Jr.
|
|
|
|
|
Name:
Robert L. Chapman, Jr.
|
||
|
|
Title:
Managing Member
|
||
|
|
|||
Dated: June
13, 2007
|
/s/
Robert L. Chapman, Jr.
|
|
|
|
|
Robert
L. Chapman, Jr.
|
|
CHAP-CAP
PARTNERS II MASTER FUND, LTD.
|
|||
|
By:
Chapman Capital L.L.C.,
|
|||
|
as
Investment Manager
|
|||
|
|
|
||
|
|
|
||
|
By:
|
/s/Robert
L. Chapman, Jr.
|
|
|
|
|
Robert
L. Chapman, Jr.
|
||
|
|
Managing
Member
|
||
|
|
|
||
|
|
|
||
|
CHAP-CAP
ACTIVIST PARTNERS MASTER FUND, LTD.
|
|||
|
By:
Chapman Capital L.L.C.,
|
|||
|
as
Investment Manager
|
|||
|
|
|
||
|
|
|
||
|
By:
|
/s/Robert
L. Chapman, Jr.
|
|
|
|
|
Robert
L. Chapman, Jr.
|
||
|
|
Managing
Member
|
||
|
|
|
||
|
|
|
||
|
CHAPMAN
CAPITAL L.L.C.
|
|||
|
|
|
||
|
|
|
||
|
By:
|
/s/Robert
L. Chapman, Jr.
|
|
|
|
|
Robert
L. Chapman, Jr.
|
||
|
|
Managing
Member
|
||
|
|
|
||
|
|
|
||
|
/s/Robert
L. Chapman, Jr.
|
|
|
|
|
Robert
L. Chapman, Jr.
|