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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 13D
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
RULE 13d-2(a)
(Amendment No. 2)(1)
Mesa Laboratories, Inc.
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(Name of Issuer)
Common Stock, no par value
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(Title of Class of Securities)
59064R 10 9
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(CUSIP Number)
Farnam Street Partners, L.P.
Farnam Street Capital, Inc.
3033 Excelsior Boulevard, Suite 300
Minneapolis, MN 55416
Phone: (612) 253-6058
With a copy to:
Douglas T. Holod, Esq.
Maslon Edelman Borman & Brand, LLP
3300 Wells Fargo Center
90 South Seventh Street
Minneapolis, MN 55402-4140
Phone: (612) 672-8200
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(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
September 13, 2005
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(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to
report the acquisition that is the subject of this Schedule 13D, and is filing
this schedule because of Sections 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g),
check the following box / /.
Note: Schedules filed in paper format shall include a signed original
and five copies of the schedule, including all exhibits. See Section
240.13d-7 for other parties to whom copies are to be sent.
(1) 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.
The information required on 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).
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CUSIP No. 59064R 10 9 Page 2 of 8
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1 NAMES OF REPORTING PERSONS/I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
(ENTITIES ONLY)
Farnam Street Partners, L.P.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions)
(a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS (See Instructions)
OO (Investment proceeds)
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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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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Minnesota
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7 SOLE VOTING POWER
NUMBER OF
146,884
SHARES -----------------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
0
OWNED BY EACH -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
REPORTING
146,884
PERSON -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
146,884
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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)
4.8%
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14 TYPE OF REPORTING PERSON (See Instructions)
PN
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CUSIP No. 59064R 10 9 Page 3 of 8
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1 NAMES OF REPORTING PERSONS/I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
(ENTITIES ONLY)
Farnam Street Capital, Inc.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions)
(a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS (See Instructions)
OO (Investment proceeds)
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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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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Minnesota
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7 SOLE VOTING POWER
NUMBER OF
146,884 (See Explanation in Item 5)
SHARES -----------------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
0
OWNED BY EACH -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
REPORTING
146,884 (See Explanation in Item 5)
PERSON -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
146,884
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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)
4.8%
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14 TYPE OF REPORTING PERSON (See Instructions)
PN
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CUSIP No. 59064R 10 9 Page 4 of 8
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1 NAMES OF REPORTING PERSONS/I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
(ENTITIES ONLY)
Raymond E. Cabillot
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions)
(a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS (See Instructions)
None
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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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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Minnesota
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7 SOLE VOTING POWER
NUMBER OF
0
SHARES -----------------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
146,884
OWNED BY EACH -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
REPORTING
0
PERSON -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
146,884
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0 (See Item 5(b))
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (See Instructions) [X]
See explanation in Item 5
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0%
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14 TYPE OF REPORTING PERSON (See Instructions)
IN
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CUSIP No. 59064R 10 9 Page 5 of 8
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1 NAMES OF REPORTING PERSONS/I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
(ENTITIES ONLY)
Peter O. Haeg
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(See Instructions)
(a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS (See Instructions)
None
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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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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Minnesota
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7 SOLE VOTING POWER
NUMBER OF
0
SHARES -----------------------------------------------------------------
8 SHARED VOTING POWER
BENEFICIALLY
146,884
OWNED BY EACH -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
REPORTING
0
PERSON -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
146,884
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0 (See Item 5(b))
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES (See Instructions) [X]
See explanation in Item 5
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0%
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14 TYPE OF REPORTING PERSON (See Instructions)
IN
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ITEM 1. SECURITY AND ISSUER
This statement relates to the common stock, no par value, of Mesa Laboratories,
Inc., a Colorado corporation ("Mesa" or the "Company" or the "Issuer"). The
address of the Company's principal executive offices is 12100 West Sixth Avenue,
Lakewood, CO 80228.
ITEM 2. IDENTITY AND BACKGROUND
(a) This Amendment to Schedule 13D is being filed by Farnam Street
Partners, L.P., a Minnesota Limited Partnership (the "Fund"), and by its General
Partner, Farnam Street Capital, Inc., a Minnesota corporation ("FSC"). Mr.
Raymond E. Cabillot is Chief Executive Officer and Chief Financial Officer and
Mr. Peter O. Haeg is President and Secretary of FSC. The Fund and FSC are making
this filing because they are no longer the beneficial owner, pursuant to Rule
13d-3 under the Securities Exchange Act of 1934 (the "Exchange Act"), of more
than five percent (5%) of the outstanding shares of Common Stock of the Issuer.
(b) The principal office of the Fund, FSC and Messrs. Cabillot and Haeg
is 3033 Excelsior Boulevard, Suite 300, Minneapolis, Minnesota 55416.
(c) The Fund was organized in January 1998 as a Minnesota Limited
Partnership. FSC is a Minnesota corporation. Its principal business activities
involve investing in equity securities of publicly traded companies, as well as
other types of securities.
(d) - (e) During the last five years, neither the Fund, FSC nor the
principals of its General Partner have been convicted in a criminal proceeding
(excluding traffic violations and similar misdemeanors) nor have the parties
been a party to a civil proceeding of a judicial or administrative body of
competent jurisdiction as a result of which such individual was or is subject to
a judgment, decree, or final order enjoining future violations of, or
prohibiting, or mandating activity subject to, federal or state securities laws
or finding any violation with respect to such laws.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
The aggregate sales price of the purchases identified in response to Item 5(c)
was $1,095,997.36. All securities identified in response to Item 5(c) were sold
in open market purchases.
ITEM 4. PURPOSE OF TRANSACTION
All of the shares of the Company owned by the Reporting Person were, at the time
of their purchase, acquired for investment purposes in the ordinary course of
business. FSC makes investments in companies that it believes are undervalued
and represent an attractive investment opportunity. FSC may from time to time
purchase additional shares of the Company's stock or dispose of all or some of
the shares.
FSC has no present plans or proposal that relates to or would result in any of
the actions specified in clauses (a) through (j) of Item 4 of Schedule 13D. FSC
intends to review its investment in the Issuer on a continuing basis and,
depending on various factors, including, without limitation, the Issuer's
financial position and investment strategy, the price levels of the common
stock, conditions in the securities markets, conditions in the industry and
general economic conditions, may in the future take such actions with respect to
its investment in the Issuer as it deems appropriate including, without
limitation, purchasing additional shares of common stock or selling some or all
of its shares or to change its intention with respect to any and all matters to
in Item 4.
ITEM 5. INTEREST IN THE SECURITIES OF THE ISSUER
(a) FSC manages the Fund which beneficially owns 146,884 shares of
common stock of the Issuer, representing 4.8% of the shares outstanding (based
upon 3,034,595 shares outstanding on June 30, 2005, as reported in the Issuer's
most recent 10-Q filed on August 12, 2005).
(b) The Fund does not share voting and dispositive power with respect to
any shares. However, Messrs. Cabillot and Haeg, as officers of FSC, may be
deemed to have beneficial ownership of the shares reported in this Schedule
13D/A by virtue of their shared voting and dispositive power. However, they
disclaim beneficial ownership and have no direct pecuniary interest in the
shares.
(c) TRANSACTIONS WITHIN THE LAST 60 DAYS OR SINCE THE LAST FILING.
The following sales took place within the last 60 days:
No. of Price per
Trade Date Shares share
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9/12/2005 31 $12.50
9/13/2005 89,439 $12.2498
(d) Not applicable.
(e) On September 13, 2005, the Reporting Person ceased to be a
beneficial owner of more than 5% of the class of securities.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS WITH RESPECT TO
SECURITIES OF THE ISSUER
There are no contracts, arrangements, understandings or relationships
between the Fund or FSC, on one hand, and any other person with respect to any
securities of the Issuer on the other hand.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
None
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, we
certify that the information set forth in this statement is true, complete and
correct.
Dated: September 15, 2005 FARNAM STREET PARTNERS, L.P.
BY: FARNAM STREET CAPITAL, INC.,
General Partner
By: /s/ Raymond E. Cabillot
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Raymond E. Cabillot,
Chief Executive Officer
By: /s/ Peter O. Haeg
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Peter O. Haeg,
President
/s/ Raymond E. Cabillot
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RAYMOND E. CABILLOT
/s/ Peter O. Haeg
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PETER O. HAEG