SECURITIES & EXCHANGE COMMISSION
Washington, D.C. 20549
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SCHEDULE 13GA*
(Rule 13d-102)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULES 13d-1(b), (c) AND (d) AND AMENDMENTS THERETO FILED
PURSUANT TO 13d-2(b)
Leap Wireless International, Inc.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
521863100
(CUSIP Number)
December 31, 2001
(Date of event which requires filing of this statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule 13GA is filed:
[ ] Rule 13d-1(b)
[X] Rule 13d-1(c)
[ ] Rule 13d-1(d)
(Page 1 of 13 Pages)
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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 purposes 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).
CUSIP No. 521863100 13GA Page 2 of 13 Pages
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(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSONS (ENTITIES ONLY)
Lone Spruce, L.P.
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
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(3) SEC USE ONLY
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(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF (5) SOLE VOTING POWER
-0-
SHARES _________________________________________________________
BENEFICIALLY (6) SHARED VOTING POWER
46,460
OWNED BY _________________________________________________________
EACH (7) SOLE DISPOSITIVE POWER
-0-
REPORTING _________________________________________________________
PERSON WITH (8) SHARED DISPOSITIVE POWER
46,460
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(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
46,460
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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)
0.1%
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(12) TYPE OF REPORTING PERSON **
PN
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** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 521863100 13GA Page 3 of 13 Pages
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(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSONS (ENTITIES ONLY)
Lone Balsam, L.P.
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
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(3) SEC USE ONLY
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(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF (5) SOLE VOTING POWER
-0-
SHARES _________________________________________________________
BENEFICIALLY (6) SHARED VOTING POWER
101,962
OWNED BY _________________________________________________________
EACH (7) SOLE DISPOSITIVE POWER
-0-
REPORTING _________________________________________________________
PERSON WITH (8) SHARED DISPOSITIVE POWER
101,962
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(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
101,962
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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)
0.3%
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(12) TYPE OF REPORTING PERSON **
PN
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** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 521863100 13GA Page 4 of 13 Pages
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(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSONS (ENTITIES ONLY)
Lone Sequoia, L.P.
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
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(3) SEC USE ONLY
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(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF (5) SOLE VOTING POWER
-0-
SHARES _________________________________________________________
BENEFICIALLY (6) SHARED VOTING POWER
85,178
OWNED BY _________________________________________________________
EACH (7) SOLE DISPOSITIVE POWER
-0-
REPORTING _________________________________________________________
PERSON WITH (8) SHARED DISPOSITIVE POWER
85,178
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(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
85,178
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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)
0.2%
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(12) TYPE OF REPORTING PERSON **
PN
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** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 521863100 13GA Page 5 of 13 Pages
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(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSONS (ENTITIES ONLY)
Lone Pine Associates LLC
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
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(3) SEC USE ONLY
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(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF (5) SOLE VOTING POWER
-0-
SHARES _________________________________________________________
BENEFICIALLY (6) SHARED VOTING POWER
233,600
OWNED BY _________________________________________________________
EACH (7) SOLE DISPOSITIVE POWER
-0-
REPORTING _________________________________________________________
PERSON WITH (8) SHARED DISPOSITIVE POWER
233,600
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(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
233,600
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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)
0.6%
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(12) TYPE OF REPORTING PERSON **
OO
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** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 521863100 13GA Page 6 of 13 Pages
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(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSONS (ENTITIES ONLY)
Lone Pine Capital LLC
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
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(3) SEC USE ONLY
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(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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NUMBER OF (5) SOLE VOTING POWER
-0-
SHARES _________________________________________________________
BENEFICIALLY (6) SHARED VOTING POWER
1,057,000
OWNED BY _________________________________________________________
EACH (7) SOLE DISPOSITIVE POWER
-0-
REPORTING _________________________________________________________
PERSON WITH (8) SHARED DISPOSITIVE POWER
1,057,000
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(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
1,057,000
-----------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES ** [ ]
-----------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
2.9%
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(12) TYPE OF REPORTING PERSON **
IA
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** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 521863100 13GA Page 7 of 13 Pages
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(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSONS (ENTITIES ONLY)
Stephen F. Mandel, Jr.
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [X]
(b) [ ]
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(3) SEC USE ONLY
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(4) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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NUMBER OF (5) SOLE VOTING POWER
-0-
SHARES _________________________________________________________
BENEFICIALLY (6) SHARED VOTING POWER
1,290,600
OWNED BY _________________________________________________________
EACH (7) SOLE DISPOSITIVE POWER
-0-
REPORTING _________________________________________________________
PERSON WITH (8) SHARED DISPOSITIVE POWER
1,290,600
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(9) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
1,290,600
-----------------------------------------------------------------------
(10) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES ** [ ]
-----------------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (9)
3.5%
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(12) TYPE OF REPORTING PERSON **
IN
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** SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 521863100 13GA Page 8 of 13 Pages
Item 1(a). Name of Issuer:
The name of the issuer is Leap Wireless International, Inc. (the
"Company").
Item 1(b). Address of Issuer's Principal Executive Offices:
The Company's principal executive offices are located at 10307 Pacific
Center Court, San Diego, California 92121-2779.
Item 2(a). Name of Person Filing:
This statement is filed by:
(i) Lone Spruce, L.P., a Delaware limited partnership ("Lone
Spruce"), with respect to the shares of Common Stock
(defined in Item 2(d) below) directly owned by it;
(ii) Lone Balsam, L.P., a Delaware limited partnership ("Lone
Balsam"), with respect to the shares of Common Stock
directly owned by it;
(iii) Lone Sequoia, L.P., a Delaware limited partnership ("Lone
Sequoia"), with respect to the shares of Common Stock
directly owned by it;
(iv) Lone Pine Associates LLC, a Delaware limited liability
company ("Lone Pine"), with respect to the shares of Common
Stock directly owned by Lone Spruce, Lone Balsam and Lone
Sequoia;
(v) Lone Pine Capital LLC, a Delaware limited liability company
("Lone Pine Capital"), which serves as investment manager
to Lone Cypress, Ltd., a Cayman Islands exempted company
("Lone Cypress"), with respect to the shares of Common
Stock directly owned by Lone Cypress;
(vi) Stephen F. Mandel, Jr. ("Mr. Mandel"), with respect to the
shares of Common Stock directly owned by each of Lone
Spruce, Lone Balsam, Lone Sequoia and Lone Cypress.
The foregoing persons are hereinafter sometimes
collectively referred to as the "Reporting Persons". Any
disclosures herein with respect to persons other than the
Reporting Persons are made on information and belief after
making inquiry to the appropriate party.
Item 2(b). Address of Principal Business Office or, if None,
Residence:
The address of the business office of each of the Reporting Persons is Two
Greenwich Plaza, Greenwich, Connecticut 06830.
CUSIP No. 521863100 13GA Page 9 of 13 Pages
Item 2(c). Citizenship:
Lone Spruce, Lone Balsam and Lone Sequoia are limited partnerships
organized under the laws of the State of Delaware. Lone Pine Associates LLC and
Lone Pine Capital LLC are limited liability companies organized under the laws
of the State of Delaware. Mr. Mandel is a United States citizen.
Item 2(d). Title of Class of Securities:
Common Stock, $0.0001 par value (the "Common Stock")
Item 2(e). CUSIP Number:
521863100
Item 3. If this statement is filed pursuant to Rules 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,
(e) [ ] Investment Adviser in accordance with Rule
13d-1 (b)(1)(ii)(E),
(f) [ ] Employee Benefit Plan or Endowment Fund in
accordance with 13d-1 (b)(1)(ii)(F),
(g) [ ] Parent Holding Company or control person in
accordance with Rule 13d-1 (b)(1)(ii)(G),
(h) [ ] Savings Association 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 the box. [X]
CUSIP No. 521863100 13GA Page 10 of 13 Pages
Item 4. Ownership.
A. Lone Spruce, L.P.
(a) Amount beneficially owned: 46,460
(b) Percent of class: 0.1% The percentages used herein and in the
rest of Item 4 are calculated based upon the 36,863,156 shares of Common Stock
issued and outstanding as of November 8, 2001 as reported in the Company's Form
10-Q for the period ending September 30, 2001.
(c)(i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 46,460
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition:
46,460
B. Lone Balsam, L.P.
(a) Amount beneficially owned: 101,962
(b) Percent of class: 0.3%
(c)(i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 101,962
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition:
101,962
C. Lone Sequoia, L.P.
(a) Amount beneficially owned: 85,178
(b) Percent of class: 0.2%
(c)(i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 85,178
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition:
85,178
D. Lone Pine Associates LLC
(a) Amount beneficially owned: 233,600
(b) Percent of class: 0.6%
(c)(i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 233,600
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition:
233,600
E. Lone Pine Capital LLC
(a) Amount beneficially owned: 1,057,000
(b) Percent of class: 2.9%
(c)(i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 1,057,000
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition:
1,057,000
CUSIP No. 521863100 13GA Page 11 of 13 Pages
F. Stephen F. Mandel, Jr.
(a) Amount beneficially owned: 1,290,600
(b) Percent of class: 3.5%
(c)(i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 1,290,600
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition:
1,290,600
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.
Lone Pine, the general partner of Lone Spruce, Lone Sequoia and Lone
Balsam, has the power to direct the affairs of Lone Spruce, Lone Sequoia and
Lone Balsam, including decisions respecting the disposition of the proceeds from
the sale of shares. Mr. Mandel is the Managing Member of Lone Pine and in that
capacity directs its operations. Lone Cypress, a client of Lone Pine Capital of
which Mr. Mandel is the Managing Member, has the power to direct the receipt of
dividends from or the proceeds of the sale of shares.
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.
See Item 2.
Item 9. Notice of Dissolution of Group.
Not applicable.
CUSIP No. 521863100 13GA Page 12 of 13 Pages
Item 10. Certification.
Each of the Reporting Persons hereby makes the following certification:
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.
CUSIP No. 521863100 13GA Page 13 of 13 Pages
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: February __, 2002
LONE SPRUCE, L.P.
By: Lone Pine Associates LLC,
General Partner
By: /s/ Stephen F. Mandel, Jr.
--------------------------
Stephen F. Mandel, Jr.
Managing Member
LONE BALSAM, L.P.
By: Lone Pine Associates LLC,
General Partner
By: /s/ Stephen F. Mandel, Jr.
--------------------------
Stephen F. Mandel, Jr.
Managing Member
LONE SEQUOIA, L.P.
By: Lone Pine Associates LLC,
General Partner
By: /s/ Stephen F. Mandel, Jr.
--------------------------
Stephen F. Mandel, Jr.
Managing Member
LONE PINE ASSOCIATES LLC
By: /s/ Stephen F. Mandel, Jr.
--------------------------
Stephen F. Mandel, Jr.
Managing Member
LONE PINE CAPITAL LLC
By: /s/ Stephen F. Mandel, Jr.
--------------------------
Stephen F. Mandel, Jr.
Managing Member
STEPHEN F. MANDEL, JR.
/s/ Stephen F. Mandel, Jr.
--------------------------------