SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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SCHEDULE 13G
(Rule 13d-102)
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INFORMATION TO BE INCLUDED IN STATEMENTS PURSUANT TO
RULES 13d-1(b), (c) AND (d) AND AMENDMENTS
THERETO FILED PURSUANT TO 13d-2 UNDER THE
SECURITIES EXCHANGE ACT OF 1934*
SPACEHAB, Incorporated
(Name of Issuer)
Common Stock, no par value
(Title of Class of Securities)
846243103
(CUSIP Number)
February 25, 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)
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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 the disclosures 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 (however, see
the Notes).
Schedule 13G PAGE 2 of 10
CUSIP No. 846243103
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Phaeton International (BVI) Ltd.
None
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X]
------------------------------------------------------------------------
(3) SEC USE ONLY
------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
British Virgin Islands
------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
0
SHARES _________________________________________________________
BENEFICIALLY (6) SHARED VOTING POWER
241,800
OWNED BY _________________________________________________________
EACH (7) SOLE DISPOSITIVE POWER
0
REPORTING _________________________________________________________
PERSON WITH (8) SHARED DISPOSITIVE POWER
241,800
------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
241,800
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(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES [ ]
------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
1.9%
------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON
CO
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Schedule 13G PAGE 3 of 10
CUSIP No. 846243103
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Phoenix Partners, L.P.
13-6272912
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X]
------------------------------------------------------------------------
(3) SEC USE ONLY
------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
New York
------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
0
SHARES _________________________________________________________
BENEFICIALLY (6) SHARED VOTING POWER
275,400
OWNED BY _________________________________________________________
EACH (7) SOLE DISPOSITIVE POWER
0
REPORTING _________________________________________________________
PERSON WITH (8) SHARED DISPOSITIVE POWER
275,400
------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
275,400
------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES [ ]
------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
2.2%
------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON
PN
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Schedule 13G PAGE 4 of 10
CUSIP No. 846243103
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Phoenix Partners II, L.P.
84-1631449
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X]
------------------------------------------------------------------------
(3) SEC USE ONLY
------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF (5) SOLE VOTING POWER
0
SHARES _________________________________________________________
BENEFICIALLY (6) SHARED VOTING POWER
82,800
OWNED BY _________________________________________________________
EACH (7) SOLE DISPOSITIVE POWER
0
REPORTING _________________________________________________________
PERSON WITH (8) SHARED DISPOSITIVE POWER
82,800
------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
82,800
------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES [ ]
------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
0.66%
------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON PN
------------------------------------------------------------------------
Schedule 13G PAGE 5 of 10
CUSIP No. 846243103
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Morgens, Waterfall, Vintiadis & Co., Inc.
13-2674766
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X]
------------------------------------------------------------------------
(3) SEC USE ONLY
------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
New York
------------------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER
0
SHARES _________________________________________________________
BENEFICIALLY (6) SHARED VOTING POWER
600,000
OWNED BY _________________________________________________________
EACH (7) SOLE DISPOSITIVE POWER
0
REPORTING _________________________________________________________
PERSON WITH (8) SHARED DISPOSITIVE POWER
600,000
------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
600,000
------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES [ ]
------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
4.8%
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(12) TYPE OF REPORTING PERSON
IA
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Schedule 13G PAGE 6 of 10
CUSIP No. 846243103
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
John C. Waterfall
058-30-4494
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X]
------------------------------------------------------------------------
(3) SEC USE ONLY
------------------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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NUMBER OF (5) SOLE VOTING POWER
500,000
SHARES _________________________________________________________
BENEFICIALLY (6) SHARED VOTING POWER
600,000
OWNED BY _________________________________________________________
EACH (7) SOLE DISPOSITIVE POWER
500,000
REPORTING _________________________________________________________
PERSON WITH (8) SHARED DISPOSITIVE POWER
600,000
------------------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
1,100,000
------------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES [ ]
------------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
8.8%
------------------------------------------------------------------------
(12) TYPE OF REPORTING PERSON
IN
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Schedule 13G PAGE 7 of 10
CUSIP No. 846243103
ITEM 1(a). NAME OF ISSUER:
SPACEHAB, Incorporated
ITEM 1(b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
2130 Galveston Road (Hwy 3), Building 1, Webster, Texas 77598
ITEM 2(a). NAME OF PERSON FILING:
This Schedule 13G is filed jointly by (a) Phaeton International
(BVI) Ltd. ("Phaeton"), (b) Phoenix Partner II, L.P. ("Phoenix
II"), (c) Phoenix Partners, L.P. ("Phoenix"), (D) Morgens,
Waterfall, Vintiadis & Company, Inc. ("Morgens Waterfall") and
(E) John C. Waterfall ("Waterfall" and together with the persons
listed in paragraphs (a) through (d), the "Reporting Persons").
Phaeton, Phoenix and Phoenix II are hereinafter sometimes
collectively referred to as the "Advisory Clients".
ITEM 2(b). ADDRESS OF PRINCIPAL OFFICE OR, IF NONE, RESIDENCE:
The business address of each of the Reporting Persons is 600
Fifth Avenue, 27th Floor, New York NY 10020.
ITEM 2(c). CITIZENSHIP:
Phoenixis a limited partnership organized under the laws of the
State of New York. Phoenix II is a limited partnership organized
under the laws of the State of Delaware. Phaeton is an exempted
company organized in British Virgin Islands. Morgens Waterfall is
a corporation organized under the laws of the State of New York.
Waterfall is a United States citizen.
ITEM 2(d). TITLE OF CLASS OF SECURITIES:
common stock, no par value
ITEM 2(e). CUSIP NUMBER:
846243103
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO 13d-1(b) OR 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
Schedule 13G PAGE 8 of 10
CUSIP No. 846243103
(e) [ ] Investment Adviser registered under Section 203 of
the Investment Advisers Act of 1940: see Rule 13d-
1(b)(1)(ii)(E)
(f) [ ] Employee Benefit Plan, Pension Fund which is subject
to the provisions of the Employee Retirement Income
Security Act of 1974 or Endowment Fund; see Rule
13d-1(b)(1)(ii)(F)
(g) [ ] Parent Holding Company, in accordance with Rule 13d-
1(b)(ii)(G);
(h) [ ] Savings Associations as defined in Section 3(b) of
the Federal Deposit Insurance Act;
(i) [ ] 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 Rule 13d-1(b)(1)(ii)(J).
IF THIS STATEMENT IS FILED PURSUANT TO Rule 13d-1(c),
CHECK THIS BOX. [X]
ITEM 4. OWNERSHIP.
A. Phaeton International (BVI) Ltd
(a) Amount beneficially owned: 241,800
(b) Percent of class: 1.9%
(c)(i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 241,800
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition: 241,800
B. Phoenix Partners, L.P.
(a) Amount beneficially owned: 275,400
(b) Percent of class: 2.2%
(c)(i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 275,400
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition: 275,400
C. Phoenix Partners II, L.P.
(a) Amount beneficially owned: 82,800
(b) Percent of class: 0.66%
(c)(i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 82,800
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition: 82,800
D. Morgens, Waterfall, Vintiadis & Co., Inc.
(a) Amount beneficially owned: 600,000
(b) Percent of class: 4.8%
(c)(i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 600,000
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition: 600,000
Schedule 13G PAGE 9 of 10
CUSIP No. 846243103
E. John C. Waterfall
(a) Amount beneficially owned: 1,100,000
(b) Percent of class: 8.8%
(c)(i) Sole power to vote or direct the vote: 500,000
(ii) Shared power to vote or direct the vote: 600,000
(iii) Sole power to dispose or direct the disposition: 500,000
(iv) Shared power to dispose or direct the disposition: 600,000
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.
Morgens Waterfall is an investment adviser registered under
Section 203 of the Investment Advisers Act of 1940, as amended.
The business of Morgens Waterfall is the rendering of financial
services and as such it provides discretionary investment
advisory services to each of the Advisory Clients. In such
capacity, Morgens Waterfall holds for the accounts of the
Advisory Clients, the foregoing shares of Common Stock. Under the
rules promulgated by the Securities and Exchange Commission,
Morgens Waterfall and its principals may be considered
"beneficial owners" of securities acquired by the Advisory
Clients. There is no agreement or understanding among such
Advisory Clients to act together for the purpose of acquiring,
holding, voting or disposing of any such securities. Each such
Advisory Client has the right to receive or the power to direct
the receipt of dividends from, or the proceeds from the sale of,
the securities held in such person's account. No such Advisory
Client has any foregoing rights with respect to more than five
percent of the class of securities identified in Item 2(d).
Waterfall is the President and Assistant Secretary of Morgens
Waterfall and is also a Director. The primary occupation of
Waterfall is to act as a principal in the business of Morgens
Waterfall.
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED
THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY.
Not applicable.
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP.
Not applicable.
ITEM 9. NOTICE OF DISSOLUTION OF GROUP.
Not applicable.
Schedule 13G PAGE 10 of 10
CUSIP No. 846243103
ITEM 10. CERTIFICATION. (if filing pursuant to Rule 13d-1(c))
By signing below each Reporting Person certifies that, to the
best of its 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 not held in
connection with or as a participant in any transaction having
that purpose or effect.
SIGNATURES
After reasonable inquiry and to the best of our knowledge and belief, the
undersigned certify that the information set forth in this statement is true,
complete and correct.
DATED: June 4, 2004
/s/ John C. Waterfall
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John C. Waterfall,
as attorney-in-fact for
the Reporting Persons