FSI
International,
Inc.
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(Name
of Issuer)
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Common
Stock, No Par Value
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(Title
of Class of Securities)
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302633102
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(CUSIP Number)
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Robert
L. Chapman, Jr.
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Chapman
Capital L.L.C.
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1007
N. Sepulveda Blvd. #129
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Manhattan
Beach, CA 90267
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(310)
373-0404
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(Name,
Address and Telephone Number of Person Authorized to Receive Notices
and
Communications)
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March 12, 2008
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(Date
of Event which Requires Filing of this Statement)
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*
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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.
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SCHEDULE
13D
CUSIP
No. 302633102
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1
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NAME
OF REPORTING PERSON
I.R.S.
IDENTIFICATION NO. OF ABOVE PERSON
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Chap-Cap
Activist Partners Master Fund, Ltd. - 98-0486684
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2
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CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(SEE INSTRUCTIONS)
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(a) x
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(b) ¨
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3
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SEC
USE ONLY
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4
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SOURCE
OF FUNDS (SEE INSTRUCTIONS)
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WC
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5
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CHECK
BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d)
or 2(e)
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¨
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Not
Applicable
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6
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CITIZENSHIP
OR PLACE OF ORGANIZATION
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Cayman
Islands
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NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
_______________
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7 SOLE
VOTING POWER
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||||
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0
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8 SHARED
VOTING POWER
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|||||
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0
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9 SOLE
DISPOSITIVE POWER
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|||||
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0
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10 SHARED
DISPOSITIVE POWER
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0
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11
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AGGREGATE
AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
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0
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12
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CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(SEE INSTRUCTIONS)
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¨
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13
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PERCENT
OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
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0.0%
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14
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TYPE
OF REPORTING PERSON (SEE INSTRUCTIONS)
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CO
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SCHEDULE
13D
CUSIP
No. 302633102
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|||||
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1
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NAME
OF REPORTING PERSON
I.R.S.
IDENTIFICATION NO. OF ABOVE PERSON
|
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Chap-Cap
Partners II Master Fund, Ltd. -
98-0486687
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2
|
|
CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(SEE INSTRUCTIONS)
|
|
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|
|
|
(a) x
|
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(b) ¨
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3
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SEC
USE ONLY
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4
|
|
SOURCE
OF FUNDS (SEE INSTRUCTIONS)
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|||
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|
WC
|
|
|
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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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¨
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Not
Applicable
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6
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CITIZENSHIP
OR PLACE OF ORGANIZATION
|
|
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|||
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|
Cayman
Islands
|
|
|
|
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
_______________
|
7 SOLE
VOTING POWER
|
||||
|
|||||
0
|
|||||
8 SHARED
VOTING POWER
|
|||||
|
|||||
0
|
|||||
9 SOLE
DISPOSITIVE POWER
|
|||||
|
|||||
0
|
|||||
10 SHARED
DISPOSITIVE POWER
|
|||||
|
|||||
0
|
11
|
|
AGGREGATE
AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
|
|
|
|
|
0
|
|
|
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)
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0.0%
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14
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|
TYPE
OF REPORTING PERSON (SEE INSTRUCTIONS)
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CO
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SCHEDULE
13D
CUSIP
No. 302633102
|
|||||
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1
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NAME
OF REPORTING PERSON
I.R.S.
IDENTIFICATION NO. OF ABOVE PERSON
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Chapman
Capital L.L.C. - 52-1961967
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2
|
|
CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(SEE INSTRUCTIONS)
|
|
|
|
|
|
(a) x
|
|
|
|
|
|
(b) ¨
|
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|
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3
|
|
SEC
USE ONLY
|
|
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4
|
|
SOURCE
OF FUNDS (SEE INSTRUCTIONS)
|
|
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|||
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|
WC
|
|
|
|
5
|
|
CHECK
BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d)
or 2(e)
|
|
¨
|
|
|
|
Not
Applicable
|
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6
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CITIZENSHIP
OR PLACE OF ORGANIZATION
|
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|||
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Delaware
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NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
_______________
|
7 SOLE
VOTING POWER
|
||||
|
|||||
0
|
|||||
8 SHARED
VOTING POWER
|
|||||
|
|||||
0
|
|||||
9 SOLE
DISPOSITIVE POWER
|
|||||
|
|||||
0
|
|||||
10 SHARED
DISPOSITIVE POWER
|
|||||
|
|||||
0
|
11
|
|
AGGREGATE
AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
|
|
|
|
|
0
|
|
|
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)
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0.0%
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14
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|
TYPE
OF REPORTING PERSON (SEE INSTRUCTIONS)
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IA
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|
SCHEDULE
13D
CUSIP
No. 302633102
|
|||||
|
|
|
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|
|
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
|
|
|
|
|
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|
|||
|
|
United
States
|
|
|
|
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
_______________
|
7 SOLE
VOTING POWER
|
||||
|
|||||
0
|
|||||
8 SHARED
VOTING POWER
|
|||||
|
|||||
0
|
|||||
9 SOLE
DISPOSITIVE POWER
|
|||||
|
|||||
0
|
|||||
10 SHARED
DISPOSITIVE POWER
|
|||||
|
|||||
0
|
11
|
|
AGGREGATE
AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
|
|
|
|
|
0
|
|
|
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)
|
|
|
|
|
|
||
|
|
0.0%
|
|
|
14
|
|
TYPE
OF REPORTING PERSON (SEE INSTRUCTIONS)
|
|
|
|
|
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||
|
|
IN
|
|
|
Date
|
Security
|
Amount
of
Shares/Contracts
Bought/(Sold)
|
Approximate
Price per
Shares/Contracts
(inclusive
of
commissions)
|
03/03/08
|
CS
|
(648)
|
$ 1.62
|
03/04/08
|
CS
|
(406)
|
$ 1.55
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03/07/08
|
CS
|
(3,000)
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$ 1.45
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03/12/08
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CS
|
(1,015,818)
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$ 1.34
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Date
|
Security
|
Amount
of
Shares/Contracts
Bought/(Sold)
|
Approximate
Price per
Shares/Contracts
(inclusive
of
commissions)
|
03/07/08
|
CS
|
(4,550)
|
$ 1.45
|
03/12/08
|
CS
|
(1,457,078)
|
$ 1.34
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Exhibit A
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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.
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Dated: March
14, 2008
|
Chap-Cap
Partners II Master Fund, Ltd.
|
|||
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By:
Chapman Capital L.L.C.,
|
|||
|
as
Investment Manager
|
|||
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|
|||
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By:
|
/s/
Robert L. Chapman, Jr.
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|
|
|
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Name:
Robert L. Chapman, Jr.
|
||
|
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Title:
Managing Member
|
||
|
|
|||
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|
|||
Dated: March
14, 2008
|
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: March
14, 2008
|
CHAPMAN
CAPITAL L.L.C.
|
|||
|
|
|||
|
By:
|
/s/
Robert L. Chapman, Jr.
|
|
|
|
|
Name:
Robert L. Chapman, Jr.
|
||
|
|
Title:
Managing Member
|
||
|
|
|||
Dated: March
14, 2008
|
/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.
|
|
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|
Robert
L. Chapman, Jr.
|