SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
GREAT WOLF RESORTS, INC.
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(Name of Issuer)
COMMON STOCK, PAR VALUE $0.01 PER SHARE
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(Title of Class of Securities)
391523107
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(CUSIP Number)
JULY 28, 2005
(Date of Event Which Requires Filing of this Statement)
Check the following 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)
* The remainder of this cover page shall be filled out for reporting
person's initial filings on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which would
alter the disclosure provided in a prior cover page.
The information required in 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 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act.
SCHEDULE 13G
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CUSIP NO. 391523107 PAGE 2 OF 9 PAGES
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NAME OF REPORTING PERSON
1 Jason Ader
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) |_|
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3 SEC USE ONLY
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CITIZENSHIP OR PLACE OF ORGANIZATION
4
United States
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SOLE VOTING POWER
5 0
NUMBER OF -------------------------------------------------
SHARES SHARED VOTING POWER
BENEFICIALLY 6 2,612,550
OWNED BY -------------------------------------------------
EACH SOLE DISPOSITIVE POWER
REPORTING 7 0
PERSON -------------------------------------------------
WITH SHARED DISPOSITIVE POWER
8 2,612,550
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,612,550
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES |_|
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
8.6%
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12 TYPE OF REPORTING PERSON*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
SCHEDULE 13G
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CUSIP NO. 391523107 PAGE 3 OF 9 PAGES
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NAME OF REPORTING PERSON
1 Hayground Cove Asset Management LLC
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY) N/A
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) |_|
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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SOLE VOTING POWER
5 0
NUMBER OF -------------------------------------------------
SHARES SHARED VOTING POWER
BENEFICIALLY 6 2,612,550
OWNED BY -------------------------------------------------
EACH SOLE DISPOSITIVE POWER
REPORTING 7 0
PERSON -------------------------------------------------
WITH SHARED DISPOSITIVE POWER
8 2,612,550
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,612,550
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES |_|
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
8.6%
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12 TYPE OF REPORTING PERSON*
HC
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
SCHEDULE 13G
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CUSIP NO. 391523107 PAGE 4 OF 9 PAGES
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NAME OF REPORTING PERSON
1 Hayground Cove Fund Management LLC
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
EIN:81-0587515
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) |_|
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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SOLE VOTING POWER
5 0
NUMBER OF -------------------------------------------------
SHARES SHARED VOTING POWER
BENEFICIALLY 6 2,612,550
OWNED BY -------------------------------------------------
EACH SOLE DISPOSITIVE POWER
REPORTING 7 0
PERSON -------------------------------------------------
WITH SHARED DISPOSITIVE POWER
8 2,612,550
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,612,550
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES |_|
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
8.6%
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12 TYPE OF REPORTING PERSON*
HC
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
SCHEDULE 13G
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CUSIP NO. 391523107 PAGE 5 OF 9 PAGES
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NAME OF REPORTING PERSON
1 Hayground Cove Associates L.P.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
EIN:81-0587520
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) |_|
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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SOLE VOTING POWER
5 0
NUMBER OF -------------------------------------------------
SHARES SHARED VOTING POWER
BENEFICIALLY 6 2,209,150
OWNED BY -------------------------------------------------
EACH SOLE DISPOSITIVE POWER
REPORTING 7 0
PERSON -------------------------------------------------
WITH SHARED DISPOSITIVE POWER
8 2,209,150
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,209,150
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES |_|
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
7.3%
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12 TYPE OF REPORTING PERSON*
HC
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
PAGE 6 OF 9 PAGES
ITEM 1(a). NAME OF ISSUER:
This statement on Schedule 13G (this "Statement") relates to
securities issued by Great Wolf Resorts, Inc. (the "Issuer").
ITEM 1(b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
The principal executive office of the Issuer is 122 West
Washington Avenue, Madison, Wisconson 53702.
ITEM 2(a). NAME OF PERSON FILING:
This Statement is being filed by (i) Jason Ader, an individual;
(ii) Hayground Cove Asset Management LLC, a Delaware limited
liability company ("HCAM"); (iii) Hayground Cove Fund Management
LLC, a Delaware limited liability company ("HCFM"); and (iv)
Hayground Cove Associates LP, a Delaware limited partnership
("HCA" and, together with Mr. Ader, HCAM and HCFM, the "Reporting
Persons").
ITEM 2(b). ADDRESS OF PRINCIPAL BUSINESS OFFICE:
The principal business address and principal office address of
each of the Reporting Persons is 1370 6th Avenue, New York, New
York 10019.
ITEM 2(c). CITIZENSHIP:
Mr. Ader is a United States citizen.
ITEM 2(d). TITLE OF CLASS OF SECURITIES:
This Statement relates to common stock, $0.01 par value per share
of the Issuer (the "Common Stock").
ITEM 2(e). CUSIP NUMBER:
The CUSIP number relating to the Common Stock is 391523107.
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO SS.SS.240.13d-1(b)
OR 240.13d-2(b) OR (c), CHECK WHETHER THE PERSON FILING IS A:
Not applicable.
PAGE 7 OF 9 PAGES
ITEM 4. OWNERSHIP:
(a) AMOUNT BENEFICIALLY OWNED:
As of July 28, 2005, each of Mr. Ader, HCAM and HCFM beneficially
owned 2,612,550 shares of Common Stock and HCA beneficially owned
2,209,150 shares of Common Stock.
The Reporting Persons indirectly hold their shares of Common
Stock. Mr. Ader is the sole member of HCAM, which in turn is the
managing member of HCFM. In addition, HCFM serves as general
partner of (i) certain Delaware limited partnership funds and (ii)
HCA, an investment manager that provides investment and advisory
services to certain offshore entities and individually managed
accounts (the limited partnership funds, offshore entities and
managed accounts collectively, the "Client Funds"). None of the
Client Funds is deemed to be a reporting person.
(b) PERCENT OF CLASS:
As of July 28, 2005, each of Mr. Ader, HCAM and HCFM beneficially
owned 8.6% of the issued and outstanding shares of Common Stock
and HCA beneficially owned 7.3% of the issued and outstanding
shares of Common Stock.
(c) NUMBER OF SHARES AS TO WHICH THE REPORTING PERSON HAS:
As of July 28, 2005, each of Mr. Ader, HCAM and HCFM had the power
to vote and to dispose of shares of Common Stock as follows:
(i) Sole power to vote or to direct the vote: -0-
(ii) Shared power to vote or to direct the vote: 2,612,550
(iii) Sole power to dispose or to direct the disposition
of: -0-
(iv) Shared power to dispose or to direct the disposition
of: 2,612,550
As of July 28, 2005, HCA had the power to vote and to dispose of
shares of Common Stock as follows:
(i) Sole power to vote or to direct the vote: -0-
(ii) Shared power to vote or to direct the vote: 2,209,150
(iii) Sole power to dispose or to direct the disposition
of: -0-
(iv) Shared power to dispose or to direct the disposition
of: 2,209,150
PAGE 8 OF 9 PAGES
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:
Except as stated elsewhere in Item 4 of this Statement, no other
person has the right to receive or the power to direct the receipt
of dividends from, or the proceeds from the sale of, the shares of
Common Stock indirectly owned by the Reporting Persons.
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH
ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING
COMPANY OR CONTROL PERSON:
Not applicable.
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP:
See the Joint Filing Agreement among the Reporting Persons
attached hereto as Exhibit A.
ITEM 9. NOTICE OF DISSOLUTION OF GROUP:
Not applicable.
ITEM 10. CERTIFICATIONS:
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.
PAGE 9 OF 9 PAGES
SIGNATURE
After reasonable inquiry and to the best of the undersigned's knowledge
and belief, the undersigned certify that the information set forth in this
Statement is true, complete and correct.
Dated: August 8, 2005
By: /s/ Jason Ader
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Jason Ader
HAYGROUND COVE ASSET MANAGEMENT LLC
By: /s/ Jason Ader
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Jason Ader
Sole Member
HAYGROUND COVE FUND MANAGEMENT LLC
By: Hayground Cove Asset Management LLC,
its Managing Member
By: /s/ Jason Ader
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Jason Ader
Sole Member
HAYGROUND COVE ASSOCIATES L.P.
By: Hayground Cove Fund Management LLC,
its General Partner
By: Hayground Cove Asset Management LLC,
its Managing Member
By: /s/ Jason Ader
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Jason Ader
Sole Member
EXHIBIT A
FILING AGREEMENT
BETWEEN JASON ADER,
HAYGROUND COVE ASSET MANAGEMENT LLC,
HAYGROUND COVE FUND MANAGEMENT LLC AND
HAYGROUND COVE ASSOCIATES L.P.
The undersigned hereby agree that the Schedule 13G with respect to the
Common Stock, $0.01 par value, of Great Wolf Resorts, Inc., dated as of even
date herewith is and shall be filed on behalf of each of us pursuant to and in
accordance with the provisions of Rule 13d-1(k)(1) under the Securities Exchange
Act of 1934, as amended.
Dated: August 8, 2005
By: /s/ Jason Ader
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Jason Ader
HAYGROUND COVE ASSET MANAGEMENT LLC
By: /s/ Jason Ader
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Jason Ader
Sole Member
HAYGROUND COVE FUND MANAGEMENT LLC
By: Hayground Cove Asset Management LLC,
its Managing Member
By: /s/ Jason Ader
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Jason Ader
Sole Member
HAYGROUND COVE ASSOCIATES L.P.
By: Hayground Cove Fund Management LLC,
its General Partner
By: Hayground Cove Asset Management LLC,
its Managing Member
By: /s/ Jason Ader
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Jason Ader
Sole Member