CUSIP NO. 87611R306
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13G
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PAGE 1 OF 11
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INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULES 13d-1(b)(c), AND (d) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(b)
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CUSIP NO. 87611R306
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13G
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PAGE 2 OF 11
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1.
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NAME OF REPORTING PERSON, S.S. OR I.R.S. IDENTIFICATION NO.OF ABOVE PERSON
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The Baupost Group, L.L.C., 04-3402144
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2.
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP *
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(a)
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(b) X
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3.
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SEC USE ONLY
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4.
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CITIZENSHIP OR PLACE OF ORGANIZATION
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Commonwealth of Massachusetts
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NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON:
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5.
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WITH SOLE VOTING POWER
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0
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6.
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WITH SHARED VOTING POWER
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5,649,678
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7.
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WITH SOLE DISPOSITIVE POWER
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0
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8.
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WITH SHARED DISPOSITIVE POWER
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5,649,678
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9.
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
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5,649,678
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10.
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CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES *
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11.
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
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16.92%
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12.
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TYPE OF REPORTING PERSON *
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IA
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CUSIP NO. 87611R306
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13G
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PAGE 3 OF 11
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1.
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NAME OF REPORTING PERSON, S.S. OR I.R.S. IDENTIFICATION NO.OF ABOVE PERSON
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Baupost Value Partners, L.P. – IV, 26-2208448
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2.
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP *
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(a)
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(b) X
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3.
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SEC USE ONLY
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4.
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CITIZENSHIP OR PLACE OF ORGANIZATION
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State of Delaware
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NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON:
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5.
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WITH SOLE VOTING POWER
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0
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6.
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WITH SHARED VOTING POWER
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1,997,783
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7.
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WITH SOLE DISPOSITIVE POWER
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0
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8.
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WITH SHARED DISPOSITIVE POWER
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1,997,783
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9.
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
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1,997,783
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10.
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CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES *
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11.
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
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5.98%
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12.
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TYPE OF REPORTING PERSON *
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PN
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CUSIP NO. 87611R306
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13G
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PAGE 4 OF 11
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1.
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NAME OF REPORTING PERSON, S.S. OR I.R.S. IDENTIFICATION NO.OF ABOVE PERSON
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SAK Corporation, 04-3334541
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2.
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP *
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(a)
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(b) X
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3.
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SEC USE ONLY
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4.
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CITIZENSHIP OR PLACE OF ORGANIZATION
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Commonwealth of Massachusetts
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NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON:
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5.
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WITH SOLE VOTING POWER
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0
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6.
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WITH SHARED VOTING POWER
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5,649,678
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7.
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WITH SOLE DISPOSITIVE POWER
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0
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8.
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WITH SHARED DISPOSITIVE POWER
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5,649,678
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9.
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
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|
5,649,678
|
10.
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CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES *
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11.
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
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16.92%
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12.
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TYPE OF REPORTING PERSON *
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HC
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CUSIP NO. 87611R306
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13G
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PAGE 5 OF 11
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1.
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NAME OF REPORTING PERSON, S.S.OR I.R.S. IDENTIFICATION NO.OF ABOVE PERSON
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Seth A. Klarman
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2.
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP *
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(a)
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(b) X
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3.
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SEC USE ONLY
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4.
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CITIZENSHIP OR PLACE OF ORGANIZATION
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United States of America
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NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON:
|
5.
|
WITH SOLE VOTING POWER
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0
|
6.
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WITH SHARED VOTING POWER
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5,649,678
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7.
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WITH SOLE DISPOSITIVE POWER
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0
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8.
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WITH SHARED DISPOSITIVE POWER
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5,649,678
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9.
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
|
|
5,649,678
|
10.
|
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES *
|
11.
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
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16.92%
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12.
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TYPE OF REPORTING PERSON *
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HC
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CUSIP NO. 87611R306
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13G
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PAGE 6 OF 11
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Item 1 (a) Name of Issuer:
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Targacept, Inc.
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1(b) Address of Issuer's Principal Executive Offices:
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200 East First Street, Suite 300, Winston-Salem, North Carolina 27101
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Item 2 (a) Name of Person Filing:
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(1)
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The Baupost Group, L.L.C.
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(2)
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Baupost Value Partners, L.P. - IV
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(3)
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SAK Corporation
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(4)
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Seth A. Klarman
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(1)
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The Baupost Group, L.L.C.
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10 St. James Avenue, Suite 1700
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Boston, Massachusetts 02116
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(2)
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Baupost Value Partners, L.P. - IV
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10 St. James Avenue, Suite 1700
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Boston, Massachusetts 02116
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(3)
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SAK Corporation
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10 St. James Avenue, Suite 1700
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Boston, Massachusetts 02116
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(4)
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Seth A. Klarman
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10 St. James Avenue, Suite 1700
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Boston, Massachusetts 02116
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2(c) Citizenship:
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(1)
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Commonwealth of Massachusetts
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(2)
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State of Delaware
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(3)
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Commonwealth of Massachusetts
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(4)
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United States of America
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2(d) Title of Class of Securities:
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Common Stock
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2(e) CUSIP Number:
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87611R306
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CUSIP NO. 87611R306
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13G
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PAGE 7 OF 11
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(a)
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[ ]Broker or Dealer registered under Section 15 of the Act (15 U.S.C. 78o).
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(b)
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[ ]Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c).
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(c)
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[ ]Insurance Company as defined in Section 3(a)(19) of the Act (15 U.S.C. 78c).
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(d)
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[ ]Investment Company registered under Section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8).
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(e)
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[X]An investment advisor in accordance with S240.13d-1(b)(1)(ii)(E).
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(f)
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[ ]An employee benefit plan or endowment fund in accordance with S240.13d-1(b)(1)(ii)(F).
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(g)
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[X]A parent holding company or control person in accordance with S240.13d-1(b)(ii)(G).
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(h)
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[ ]A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813).
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(i)
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[ ] A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940 (15 U. S.C. 80a-3).
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(j)
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[ ]Group, in accordance with S240.13d-1(b)(1)(ii)(J).
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Item 4 Ownership:
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(a)
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Amount Beneficially Owned: (as of November 30, 2011)
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(1)
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The Baupost Group, L.L.C.: 5,649,678
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(2)
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Baupost Value Partners, L.P. - IV : 1,997,783
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(3)
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SAK Corporation: 5,649,678
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(4)
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Seth A. Klarman: 5,649,678
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CUSIP NO. 87611R306
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13G
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PAGE 8 OF 11
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(b)
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Percent of Class:
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(1)
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The Baupost Group, L.L.C.: 16.92%
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(3)
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SAK Corporation: 16.92%
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(4)
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Seth A. Klarman: 16.92%
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(c)
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Number of shares as to which such person has:
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(i)
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sole power to vote or to direct the vote
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---0
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(ii)
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shared power to vote or to direct the vote
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(1)
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The Baupost Group, L.L.C.: 5,649,678
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(2)
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Baupost Value Partners, L.P. - IV 1,997,783
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(3)
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SAK Corporation: 5,649,678
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(4)
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Seth A. Klarman: 5,649,678
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(iii)
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sole power to dispose or to direct the disposition of
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---0
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(iv)
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shared power to dispose or to direct the disposition of
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(1)
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The Baupost Group, L.L.C.: 5,649,678
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(2)
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Baupost Value Partners, L.P. - IV 1,997,783
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(2)
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SAK Corporation: 5,649,678
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(4)
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Seth A. Klarman: 5,649,678
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CUSIP NO. 87611R306
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13G
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PAGE 9 OF 11
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See attached Exhibit A
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N/A
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N/A
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CUSIP NO. 87611R306
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13G
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PAGE 10 OF 11
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By:
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/s/ Seth A. Klarman
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Seth A. Klarman
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President
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By:
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/s/ Seth A. Klarman
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Seth A. Klarman
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President
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By:
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/s/ Seth A. Klarman
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Seth A. Klarman
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President
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By:
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/s/ Seth A. Klarman
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Seth A. Klarman
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CUSIP NO. 87611R306
|
13G
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PAGE 11 OF 11
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(1)
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The Baupost Group, L.L.C. IA
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(2)
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Baupost Value Partners, L.P. – IV PN
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(3)
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SAK Corporation HC
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(4)
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Seth A. Klarman HC
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