<PAGE> 1
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)
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
Under the Securities Exchange Act of 1934
UNITED SHIPPING & TECHNOLOGY, INC.
--------------------------------------------------------------------------------
(Name of Issuer)
Series C Convertible Preferred Stock, par value $.004 per share
--------------------------------------------------------------------------------
(Title of Class of Securities)
911-498-103
--------------------------------------------------------------------------------
(CUSIP Number)
Eunu Chun
Kirkland & Ellis, 153 East 53rd Street, New York 10022-4675
(212) 446-4800
--------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
September 1, 2000
--------------------------------------------------------------------------------
(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 Rule 13d-1(e), 13d-1(f) or 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 Rule 13d-7
for other parties to whom copies are to be sent.
* 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).
<PAGE> 2
<TABLE>
<S> <C>
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CUSIP NO. 911-498-103 13D PAGE 1 OF 17 PAGES
----------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------
1. Names of Reporting Persons/I.R.S. Identification Nos. of Above Persons (Entities Only)
TH Lee.Putnam Internet Partners, L.P.
----------------------------------------------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group (a) [ ]
(See Instructions) (b) [X]
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3. SEC Use Only
----------------------------------------------------------------------------------------------------------------------
4. Source of Funds (See Instructions)
WC
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5. Check if Disclosure of Legal Proceedings is Required Pursuant to Item 2(d) or 2(e) [ ]
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6. Citizenship or Place of Organization
Delaware
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7. Sole Voting Power
453,768
--------------------------------------------------------------------------------------
8. Shared Voting Power
Number of Shares Beneficially
Owned by Each Reporting Person --------------------------------------------------------------------------------------
With
9. Sole Dispositive Power
453,768
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10. Shared Dispositive Power
----------------------------------------------------------------------------------------------------------------------
11. Aggregate Amount Beneficially Owned by Each Reporting Person
453,768
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12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares [ ]
(See Instructions)
----------------------------------------------------------------------------------------------------------------------
13. Percent of Class Represented by Amount in Row (11)
54.45%
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14. Type of Reporting Person (See Instructions)
PN
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</TABLE>
1
<PAGE> 3
<TABLE>
<S> <C>
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CUSIP NO. 911-498-103 13D PAGE 2 OF 17 PAGES
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----------------------------------------------------------------------------------------------------------------------
1. Names of Reporting Persons/I.R.S. Identification Nos. of Above Persons (Entities Only)
TH Lee.Putnam Internet Parallel Partners, L.P.
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2. Check the Appropriate Box if a Member of a Group (a) [ ]
(See Instructions) (b) [X]
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3. SEC Use Only
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4. Source of Funds (See Instructions)
WC
----------------------------------------------------------------------------------------------------------------------
5. Check if Disclosure of Legal Proceedings is Required Pursuant to Item 2(d) or 2(e) [ ]
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6. Citizenship or Place of Organization
Delaware
----------------------------------------------------------------------------------------------------------------------
7. Sole Voting Power
344,138
--------------------------------------------------------------------------------------
8. Shared Voting Power
Number of Shares Beneficially
Owned by Each Reporting Person --------------------------------------------------------------------------------------
With
9. Sole Dispositive Power
344,138
--------------------------------------------------------------------------------------
10. Shared Dispositive Power
----------------------------------------------------------------------------------------------------------------------
11. Aggregate Amount Beneficially Owned by Each Reporting Person
344,138
----------------------------------------------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares [ ]
(See Instructions)
----------------------------------------------------------------------------------------------------------------------
13. Percent of Class Represented by Amount in Row (11)
41.30%
----------------------------------------------------------------------------------------------------------------------
14. Type of Reporting Person (See Instructions)
PN
----------------------------------------------------------------------------------------------------------------------
</TABLE>
2
<PAGE> 4
<TABLE>
<S> <C>
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CUSIP NO. 911-498-103 13D PAGE 3 OF 17 PAGES
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----------------------------------------------------------------------------------------------------------------------
1. Names of Reporting Persons/I.R.S. Identification Nos. of Above Persons (Entities Only)
TH Lee.Putnam Internet Fund Advisors, L.P.
----------------------------------------------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group (a) [ ]
(See Instructions) (b) [X]
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3. SEC Use Only
----------------------------------------------------------------------------------------------------------------------
4. Source of Funds (See Instructions)
OO
----------------------------------------------------------------------------------------------------------------------
5. Check if Disclosure of Legal Proceedings is Required Pursuant to Item 2(d) or 2(e) [ ]
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6. Citizenship or Place of Organization
Delaware
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7. Sole Voting Power
--------------------------------------------------------------------------------------
8. Shared Voting Power
Number of Shares Beneficially 797,906
Owned by Each Reporting Person --------------------------------------------------------------------------------------
With
9. Sole Dispositive Power
--------------------------------------------------------------------------------------
10. Shared Dispositive Power
797,906
----------------------------------------------------------------------------------------------------------------------
11. Aggregate Amount Beneficially Owned by Each Reporting Person
797,906
----------------------------------------------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares [ ]
(See Instructions)
----------------------------------------------------------------------------------------------------------------------
13. Percent of Class Represented by Amount in Row (11)
95.75%
----------------------------------------------------------------------------------------------------------------------
14. Type of Reporting Person (See Instructions)
PN
----------------------------------------------------------------------------------------------------------------------
</TABLE>
3
<PAGE> 5
<TABLE>
<S> <C>
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CUSIP NO. 911-498-103 13D PAGE 4 OF 17 PAGES
----------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------
1. Names of Reporting Persons/I.R.S. Identification Nos. of Above Persons (Entities Only)
TH Lee.Putnam Internet Fund Advisors, LLC
----------------------------------------------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group (a) [ ]
(See Instructions) (b) [X]
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3. SEC Use Only
----------------------------------------------------------------------------------------------------------------------
4. Source of Funds (See Instructions)
OO
----------------------------------------------------------------------------------------------------------------------
5. Check if Disclosure of Legal Proceedings is Required Pursuant to Item 2(d) or 2(e) [ ]
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6. Citizenship or Place of Organization
Delaware
----------------------------------------------------------------------------------------------------------------------
7. Sole Voting Power
--------------------------------------------------------------------------------------
8. Shared Voting Power
Number of Shares Beneficially 797,906
Owned by Each Reporting Person --------------------------------------------------------------------------------------
With
9. Sole Dispositive Power
--------------------------------------------------------------------------------------
10. Shared Dispositive Power
797,906
----------------------------------------------------------------------------------------------------------------------
11. Aggregate Amount Beneficially Owned by Each Reporting Person
797,906
----------------------------------------------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares [ ]
(See Instructions)
----------------------------------------------------------------------------------------------------------------------
13. Percent of Class Represented by Amount in Row (11)
95.75%
----------------------------------------------------------------------------------------------------------------------
14. Type of Reporting Person (See Instructions)
OO
----------------------------------------------------------------------------------------------------------------------
</TABLE>
4
<PAGE> 6
<TABLE>
<S> <C>
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CUSIP NO. 911-498-103 13D PAGE 5 OF 17 PAGES
----------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------
1. Names of Reporting Persons/I.R.S. Identification Nos. of Above Persons (Entities Only)
TH Lee Global Internet Managers, L.P.
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2. Check the Appropriate Box if a Member of a Group (a) [ ]
(See Instructions) (b) [X]
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3. SEC Use Only
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4. Source of Funds (See Instructions)
OO
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5. Check if Disclosure of Legal Proceedings is Required Pursuant to Item 2(d) or 2(e) [ ]
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6. Citizenship or Place of Organization
Delaware
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7. Sole Voting Power
--------------------------------------------------------------------------------------
8. Shared Voting Power
Number of Shares Beneficially 797,906
Owned by Each Reporting Person --------------------------------------------------------------------------------------
With
9. Sole Dispositive Power
--------------------------------------------------------------------------------------
10. Shared Dispositive Power
797,906
----------------------------------------------------------------------------------------------------------------------
11. Aggregate Amount Beneficially Owned by Each Reporting Person
797,906
----------------------------------------------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares [ ]
(See Instructions)
----------------------------------------------------------------------------------------------------------------------
13. Percent of Class Represented by Amount in Row (11)
95.75%
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14. Type of Reporting Person (See Instructions)
PN
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</TABLE>
5
<PAGE> 7
<TABLE>
<S> <C>
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CUSIP NO. 911-498-103 13D PAGE 6 OF 17 PAGES
----------------------------------------------------------------------------------------------------------------------
----------------------------------------------------------------------------------------------------------------------
1. Names of Reporting Persons/I.R.S. Identification Nos. of Above Persons (Entities Only)
TH.Lee Global Internet Advisors, LLC
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2. Check the Appropriate Box if a Member of a Group (a) [ ]
(See Instructions) (b) [X]
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3. SEC Use Only
----------------------------------------------------------------------------------------------------------------------
4. Source of Funds (See Instructions)
OO
----------------------------------------------------------------------------------------------------------------------
5. Check if Disclosure of Legal Proceedings is Required Pursuant to Item 2(d) or 2(e) [ ]
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6. Citizenship or Place of Organization
Delaware
----------------------------------------------------------------------------------------------------------------------
7. Sole Voting Power
--------------------------------------------------------------------------------------
8. Shared Voting Power
Number of Shares Beneficially 797,906
Owned by Each Reporting Person --------------------------------------------------------------------------------------
With
9. Sole Dispositive Power
--------------------------------------------------------------------------------------
10. Shared Dispositive Power
797,906
----------------------------------------------------------------------------------------------------------------------
11. Aggregate Amount Beneficially Owned by Each Reporting Person
797,906
----------------------------------------------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares [ ]
(See Instructions)
----------------------------------------------------------------------------------------------------------------------
13. Percent of Class Represented by Amount in Row (11)
95.75%
----------------------------------------------------------------------------------------------------------------------
14. Type of Reporting Person (See Instructions)
OO
----------------------------------------------------------------------------------------------------------------------
</TABLE>
6
<PAGE> 8
<TABLE>
<S> <C>
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CUSIP NO. 911-498-103 13D PAGE 7 OF 17 PAGES
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1. Names of Reporting Persons/I.R.S. Identification Nos. of Above Persons (Entities Only)
TH Lee, Putnam Capital, L.P.
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2. Check the Appropriate Box if a Member of a Group (a) [ ]
(See Instructions) (b) [X]
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3. SEC Use Only
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4. Source of Funds (See Instructions)
OO
----------------------------------------------------------------------------------------------------------------------
5. Check if Disclosure of Legal Proceedings is Required Pursuant to Item 2(d) or 2(e) [ ]
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6. Citizenship or Place of Organization
Delaware
----------------------------------------------------------------------------------------------------------------------
7. Sole Voting Power
--------------------------------------------------------------------------------------
8. Shared Voting Power
Number of Shares Beneficially 797,906
Owned by Each Reporting Person --------------------------------------------------------------------------------------
With
9. Sole Dispositive Power
--------------------------------------------------------------------------------------
10. Shared Dispositive Power
797,906
----------------------------------------------------------------------------------------------------------------------
11. Aggregate Amount Beneficially Owned by Each Reporting Person
797,906
----------------------------------------------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares [ ]
(See Instructions)
----------------------------------------------------------------------------------------------------------------------
13. Percent of Class Represented by Amount in Row (11)
95.75%
----------------------------------------------------------------------------------------------------------------------
14. Type of Reporting Person (See Instructions)
PN
----------------------------------------------------------------------------------------------------------------------
</TABLE>
7
<PAGE> 9
<TABLE>
<S> <C>
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CUSIP NO. 911-498-103 13D PAGE 8 OF 17 PAGES
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----------------------------------------------------------------------------------------------------------------------
1. Names of Reporting Persons/I.R.S. Identification Nos. of Above Persons (Entities Only)
TH Lee, Putnam Capital Advisors, LLC
----------------------------------------------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group (a) [ ]
(See Instructions) (b) [X]
----------------------------------------------------------------------------------------------------------------------
3. SEC Use Only
----------------------------------------------------------------------------------------------------------------------
4. Source of Funds (See Instructions)
OO
----------------------------------------------------------------------------------------------------------------------
5. Check if Disclosure of Legal Proceedings is Required Pursuant to Item 2(d) or 2(e) [ ]
----------------------------------------------------------------------------------------------------------------------
6. Citizenship or Place of Organization
Delaware
----------------------------------------------------------------------------------------------------------------------
7. Sole Voting Power
--------------------------------------------------------------------------------------
8. Shared Voting Power
Number of Shares Beneficially 797,906
Owned by Each Reporting Person --------------------------------------------------------------------------------------
With
9. Sole Dispositive Power
--------------------------------------------------------------------------------------
10. Shared Dispositive Power
797,906
----------------------------------------------------------------------------------------------------------------------
11. Aggregate Amount Beneficially Owned by Each Reporting Person
797,906
----------------------------------------------------------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares [ ]
(See Instructions)
----------------------------------------------------------------------------------------------------------------------
13. Percent of Class Represented by Amount in Row (11)
95.75%
----------------------------------------------------------------------------------------------------------------------
14. Type of Reporting Person (See Instructions)
OO
----------------------------------------------------------------------------------------------------------------------
</TABLE>
8
<PAGE> 10
ITEM 1. SECURITY AND ISSUER.
The class of equity securities to which this statement refers
is Series C Convertible Preferred Stock ("Series C Preferred"), $0.004 par
value, of United Shipping & Technology, Inc. (the "Issuer"). The principal
executive offices of the Issuer are located at 9850 51st Avenue North, Suite
110, Minneapolis, Minnesota, 55442.
ITEM 2. IDENTITY AND BACKGROUND
This Schedule 13D is being filed jointly on behalf of the
following persons (collectively, the "Reporting Persons"): (1) TH Lee.Putnam
Internet Partners, L.P., a Delaware limited partnership (the "U.S. Fund"), (2)
TH Lee.Putnam Internet Fund Advisors, L.P., a Delaware limited partnership (the
"Fund Advisor"), (3) TH Lee.Putnam Internet Fund Advisors, LLC, a Delaware
limited liability company (the "Fund Advisor GP"), (4) TH Lee Global Internet
Managers, L.P., a Delaware limited partnership (the "Fund Manager"), (5) TH Lee
Global Internet Advisors, LLC, a Delaware limited liability company (the "Fund
Manager GP"), (6) TH Lee, Putnam Capital, L.P., a Delaware limited partnership,
(7) TH Lee.Putnam Internet Parallel Partners, L.P., a Delaware limited
partnership (the "Non-U.S. Fund"), and (8) TH Lee, Putnam Capital Advisors, LLC,
a Delaware limited liability company.
The U.S. Fund and the Non-U.S. Fund are principally engaged in
making equity and equity-related investments in early to late stage Internet and
Internet-related companies. The address of the U.S. Fund and the Non-U.S. Fund
is 200 Madison Avenue, Suite 2225, New York, New York, 10016.
The Fund Advisor is principally engaged in the business of
serving as the general partner of the U.S. Fund and the Non-U.S. Fund. The Fund
Advisor GP is principally engaged in the business of serving as the general
partner of the Fund Advisor. The address of the Fund Advisor and the Fund
Advisor GP is 75 State Street, Boston, Massachusetts, 02109.
The Fund Manager is principally engaged in the business of
serving as manager of the U.S. Fund and the Non-U.S. Fund. The Fund Manager GP
is principally engaged in the business of and serving as the general partner of
the Fund Manager. The address of the Fund Manager and the Fund Manager GP is 75
State Street, Boston, Massachusetts 02109.
TH Lee, Putnam Capital, L.P. is principally engaged in the
business of serving as member of the Fund Advisor GP and the Fund Manager GP.
The address of TH Lee, Putnam Capital, L.P. is 75 State Street, Boston,
Massachusetts 02109.
TH Lee, Putnam Capital Advisors, LLC is principally engaged in
the business of serving as the general partner of TH Lee, Putnam Capital, L.P.
The address of TH Lee, Putnam Capital Advisors LLC is 75 State Street, Boston,
Massachusetts 02109.
None of the Reporting Persons, nor any of their officers or
managing directors, has been convicted in a criminal proceeding (excluding
traffic violations and similar misdemeanors) during the past five years.
None of the Reporting Persons, nor any of their officers or
managing directors, has been party to a civil proceeding of a judicial or
administrative body of competent jurisdiction during the past five years which
has resulted in subjection to a judgment, decree or final order enjoining future
violations of, or prohibiting or mandating activities subject to, federal or
state securities laws or finding any violation with respect to such laws.
9
<PAGE> 11
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
Pursuant to a Securities Purchase Agreement (the "Agreement"),
dated September 1, 2000, between the U.S. Fund, the Non-U.S. Fund and the
Issuer, the U.S. Fund and the Non-U.S. Fund agreed to purchase Series C
Preferred, and warrants to purchase further Series C Preferred (as further
described in Item 4 below). The sale and purchase of the Series C Preferred and
the warrants was completed on September 1, 2000. The total consideration paid by
the U.S. Fund and to Non-U.S. Fund in connection with their purchase of the
Series C Preferred and warrants was $4,787,436.
The U.S. Fund and the Non-U.S. Fund obtained funds to make the
purchase described above through the capital contributions from their partners.
No funds were borrowed by the U.S. Fund or the Non-U.S. Fund for the purpose of
completing the transaction.
ITEM 4. PURPOSE OF TRANSACTION.
The Purchasers acquired the Series C Preferred pursuant to the
Agreement for general investment purposes. Subject to market conditions and the
restrictions articulated in the Agreement, as described below, the Purchasers
may acquire or dispose of shares of the Issuer on the open market, or through
privately negotiated or other transactions.
Except as set forth herein, the Reporting Persons do not have
any plans or proposals which would relate to or result in any of the events
described in subparagraphs (a) through (j) of Item 4 of Schedule 13D.
(a)
Pursuant to the Agreement, the Issuer sold, as of September 1,
2000 (the "Initial Closing"), 833,333 shares of its Series C Preferred to the
U.S. Fund and the Non-U.S. Fund, at a price of $6.00 per share, for a purchase
price of $4,787,436 (the "Purchase Price").
The Issuer also issued to the U.S. Fund and the Non-U.S. Fund
warrants to purchase shares of Series C Preferred, in exchange for those
parties' agreement to cancel outstanding warrants to purchase shares of the
Issuer's Series B Convertible Preferred Stock (the "Series B Preferred") issued
pursuant to a securities purchase agreement dated May 15, 2000 (the "Initial
Purchase Agreement"). At the Closing, the Issuer issued the U.S. Fund and the
Non-U.S. Fund warrants (the "Series C Initial Warrants") to purchase 329,316
shares of Series C Preferred, in exchange for the cancellation of warrants
issued under the Initial Purchase Agreement to purchase up to an aggregate of
452,901 shares of Series B Preferred for $9.00 per share (the "Series B
Additional Warrants"). The exercise price of the Series C Warrants is $.01 and
the term of the Series C Warrants expires on September 1, 2005.
The shares of Series C Preferred are convertible into shares
of the Issuer's common stock (or shares or units of any security into which the
Issuer's common stock is changed). The conversion rate is 1:1, subject to
adjustment to prevent dilution.
The holders of shares of Series C Preferred are entitled to
vote on all matters submitted to the shareholders on an as-converted basis. For
so long as 20% of the shares of Series C Preferred issued pursuant to the
Agreement remain outstanding, the affirmative vote of the holders of two-thirds
of the shares of Series C Preferred are required for the Issuer to (i) change
the preferences, rights or powers of, increase or decrease the authorized number
of, or issue additional shares of the Series C Preferred (or any class of stock
that ranks prior to or equal with the Series C Preferred), (ii) change the
Issuer's articles or bylaws, (iii) declare or pay dividends or distributions on,
or repurchase or redeem, the Issuer's securities, other than (a) with respect to
shares of Series C Preferred, (b) the repurchase of options or common stock
under the Issuer's stock option plans, or (c) certain mandatory prepayments and
repurchases required
10
<PAGE> 12
under the terms an outstanding note and warrant of the Issuer, (iv) merge or
consolidate with, or transfer assets out of the ordinary course of business to,
any person, (v) liquidate, dissolve or reorganize, or (vi) permit a lien on all
or substantially all of the Issuer's property in excess of $5 million, other
than in connection with refinancing the Issuer's existing debt.
Shares of Series C Preferred receive dividends on an
as-converted basis (other than dividends payable solely in shares of common
stock), and have a per share liquidation preference of $6.00 (the "Liquidation
Value"), plus all accrued and unpaid dividends. The Issuer is required to redeem
any outstanding shares of Series C Preferred on August 31, 2006, at a price
equal to the aggregate Liquidation Value, plus all accrued and unpaid dividends.
The Issuer is required to offer to purchase any outstanding shares of Series C
Preferred upon a Change of Control (as defined in the Certificate of Designation
for the Series C Preferred) of the Issuer, at a price equal to the aggregate
Liquidation Value, plus all accrued and unpaid dividends, in cash or shares of
its common stock (or the securities of the entity into which its common stock
became converted or was exchanged in connection with the Change of Control).
The Issuer will use the Purchase Price primarily to meet
certain of its working capital and other needs.
(b) - (c) Not applicable.
(d) Not applicable.
(e) Not applicable.
(f) - (h) Not applicable.
(j)
The Issuer and the Purchaser also entered into an amended and
restated registration rights agreement dated as of September 1, 2000 (the
"Registration Rights Agreement"). Pursuant to the Registration Rights Agreement,
the holders of a majority of (i) the Issuer's common stock issued upon the
conversion of any shares of Series C Preferred issued or issuable to the
Purchasers pursuant to the Agreement (whether held by the Purchasers or any
successors or assigns of the Purchasers) and (ii) any other shares of the
Issuer's common stock held by the persons referred to in clause (i)
(collectively, the "Registrable Securities") may request up to three long-form
registrations of the Registrable Securities. Each holder of Registrable
Securities may request an unlimited number of short form registrations of its
Registrable Securities. The Registrable Securities enjoy piggyback registration
rights if the Issuer intends to register its other securities.
The Agreement, the Registration Rights Agreement and the
Warrants are filed as exhibits to this Schedule 13D and are incorporated herein
by reference. The foregoing descriptions of such documents are not intended to
be complete and are qualified in their entirety by reference to such exhibits.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
(a) AND (b)
The U.S. Fund has obtained direct beneficial ownership of
453,768 shares of Series C Preferred pursuant to the Purchase Agreement,
representing approximately 54.45% of the outstanding shares of Series C
Preferred and 1.38% of the common stock of the Issuer assuming conversion of the
Series C Preferred and on a fully diluted basis.
The Non-U.S. Fund has obtained direct beneficial ownership of
344,138 shares of Series C Preferred pursuant to the Purchase Agreement,
representing approximately 41.30% of the
11
<PAGE> 13
outstanding shares of Series C Preferred and 1.05% of the common stock of the
Issuer assuming conversion of the Series C Preferred and on a fully diluted
basis.
Each of the Fund Advisor, the Fund Advisor GP, the Fund
Manager, the Fund Manager GP, TH Lee, Putnam Capital, L.P., and TH Lee, Putnam
Capital LLC may be deemed to share voting and dispositive power with respect to
797,906 shares of Series C Preferred beneficially owned by U.S. Fund and
Non-U.S. Fund, which represents approximately 2.43% of the outstanding shares of
common stock of the Issuer (assuming conversion of the Series C Preferred and on
a fully diluted basis). The filing of this Schedule 13D by Fund Advisor, the
Fund Advisor GP, the Fund Manager, the Fund Manager GP, TH Lee, Putnam Capital,
L.P., and TH Lee, Putnam Capital LLC shall not be construed as an admission that
such entities are, for the purpose of Section 13(d) of the Exchange Act, the
beneficial owners of Series C Preferred held by the U.S. Fund and the Non-U.S.
Fund.
(c) The responses to Items 3 and 4 of this Schedule 13D are incorporated
herein.
(d) Not applicable.
(e) Not applicable.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
TO SECURITIES OF THE ISSUER.
The responses to Items 3, 4, and 5 of this Schedule 13D and
corresponding Exhibits to this Schedule 13D are incorporated herein by
reference.
Except for any agreements described in Items 3, 4 and 5, to
the best knowledge of the Reporting Persons, there are no contracts,
arrangements, understandings, or relationships (legal or otherwise) among the
persons named in Item 2, and any other person, with respect to any securities of
the Issuer, including, but not limited to, transfer or voting of any of the
securities, finder's fees, joint ventures, loan or option arrangements, puts or
calls, guarantees of profits, division of profits or losses, or the giving or
withholding of proxies.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
<TABLE>
<CAPTION>
Exhibit No. Description
---------- -----------
<S> <C>
1 Securities Purchase Agreement among United Shipping &
Technology, Inc., TH Lee.Putnam Internet Partners, L.P., TH
Lee.Putnam Internet Parallel Partners, L.P., THLi Coinvestment
Partners LLC and Blue Star I, LLC, dated as of September 1,
2000 (incorporated by reference to Exhibit 2.1 to Issuer's
Report on Form 8-K dated September 1, 2000 (file No.
000-28452)).
2 Certificate of Designation of Preferences and Rights of Series
C Convertible Preferred Stock and Articles of Amendment to the
Restated Articles of Incorporation of United Shipping &
Technology, Inc, dated as of August 30, 2000 (incorporated by
reference to Exhibit 3.1 to Issuer's Report on Form 8-K dated
September 1, 2000 (file No. 000-28452)).
3 Stock Purchase Warrant to Acquire Series C Preferred Stock,
Certificate No. W-7, issued September 1, 2000 by United
Shipping & Technology, Inc. to TH Lee.Putnam Internet
Partners, L.P. for 187,290 shares of Series C Preferred Stock
at a price per share equal to
</TABLE>
12
<PAGE> 14
<TABLE>
<S> <C>
$0.01 (incorporated by reference to Exhibit 4.1 to Issuer's
Report on Form 8-K dated September 1, 2000 (file No.
000-28452)).
4 Stock Purchase Warrant to Acquire Series C Preferred Stock,
Certificate No. W-8, issued September 1, 2000 by United
Shipping & Technology, Inc. to TH Lee.Putnam Internet Parallel
Partners, L.P. for 142,042 shares of Series C Preferred Stock
at a price per share equal to $0.01 (incorporated by reference
to Exhibit 4.2 to Issuer's Report on Form 8-K dated September
1, 2000 (file No. 000-28452)).
5 Stock Purchase Warrant to Acquire Series C Preferred Stock,
Certificate No. W-9, issued September 1, 2000 by United
Shipping & Technology, Inc. to THLi Coinvestment Partners LLC
for 10,598 shares of Series C Preferred Stock at a price per
share equal to $0.01 (incorporated by reference to Exhibit 4.3
to Issuer's Report on Form 8-K dated September 1, 2000 (file
No. 000-28452)).
6 Stock Purchase Warrant to Acquire Series C Preferred Stock,
Certificate No. W-10, issued September 1, 2000 by United
Shipping & Technology, Inc. to Blue Star I, LLC for 4,024
shares of Series C Preferred Stock at a price per share equal
to $0.01 (incorporated by reference to Exhibit 4.4 to Issuer's
Report on Form 8-K dated September 1, 2000 (file No.
000-28452)).
7 Amended and Restated Registration Rights Agreement, among
United Shipping & Technology, Inc., TH Lee.Putnam Internet
Partners, L.P., TH Lee.Putnam Internet Parallel Partners,
L.P., THLi Coinvestment Partners LLC and Blue Star I, LLC,
dated as of September 1, 2000 (incorporated by reference to
Exhibit 10.1 to Issuer's Report on Form 8-K dated September 1,
2000 (file No. 000-28452)).
</TABLE>
13
<PAGE> 15
SIGNATURES
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
TH LEE.PUTNAM INTERNET PARTNERS, L.P.
By: TH Lee.Putnam Internet Advisors L.P.
Its: General Partner
By: /s/ James G. Brown
----------------------------------
Name: James G. Brown
Title: Managing Director
TH LEE.PUTNAM INTERNET PARALLEL PARTNERS, L.P.
By: TH Lee.Putnam Internet Advisors L.P.
Its: General Partner
By: /s/ James G. Brown
----------------------------------
Name: James G. Brown
Title: Managing Director
TH LEE.PUTNAM INTERNET FUND ADVISORS, L.P.
By: TH Lee.Putnam Internet Fund Advisors LLC
Its: General Partner
By: /s/ James G. Brown
----------------------------------
Name: James G. Brown
Title: Managing Director
TH LEE GLOBAL INTERNET MANAGERS, L.P.
By: TH Lee Global Internet Advisors LLC
Its: General Partner
By: /s/ James G. Brown
----------------------------------
Name: James G. Brown
Title: Managing Director
<PAGE> 16
TH LEE GLOBAL INTERNET ADVISORS, LLC
By: /s/ James G. Brown
----------------------------------
Name: James G. Brown
Title: Managing Director
TH LEE.PUTNAM INTERNET FUND ADVISORS, LLC
By: /s/ James G. Brown
----------------------------------
Name: James G. Brown
Title: Managing Director
TH LEE, PUTNAM CAPITAL, L.P.
By: TH Lee, Putnam Capital Advisors LLC
Its: General Partner
By: /s/ Scott Sperling
----------------------------------
Name: Scott Sperling
Title: Managing Director
TH LEE, PUTNAM CAPITAL ADVISORS, LLC
By: /s/ Scott Sperling
----------------------------------
Name: Scott Sperling
Title: Managing Director
<PAGE> 17
SCHEDULE A
MEMBERS OF TH LEE, PUTNAM CAPITAL ADVISORS LLC
<TABLE>
<CAPTION>
NAME OF MEMBER BUSINESS ADDRESS OF MEMBER
----------------------------------------------------------------------------------
<S> <C>
C. Hunter Boll 75 State Street
Boston, MA 02109
----------------------------------------------------------------------------------
Anthony J. DiNovi 75 State Street
Boston, MA 02109
----------------------------------------------------------------------------------
Thomas M. Hagerty 75 State Street
Boston, MA 02109
----------------------------------------------------------------------------------
David V. Harkins 75 State Street
Boston, MA 02109
----------------------------------------------------------------------------------
Seth W. Lawry 75 State Street
Boston, MA 02109
----------------------------------------------------------------------------------
Thomas H. Lee 75 State Street
Boston, MA 02109
----------------------------------------------------------------------------------
Warren C. Smith, Jr. 75 State Street
Boston, MA 02109
----------------------------------------------------------------------------------
Scott A. Schoen 75 State Street
Boston, MA 02109
----------------------------------------------------------------------------------
Scott Sperling 75 State Street
Boston, MA 02109
----------------------------------------------------------------------------------
Kent R. Weldon 75 State Street
Boston, MA 02109
----------------------------------------------------------------------------------
Todd M. Abbrecht 75 State Street
Boston, MA 02109
----------------------------------------------------------------------------------
Charles A. Brizius 75 State Street
Boston, MA 02109
----------------------------------------------------------------------------------
Scott Jaeckel 75 State Street
Boston, MA 02109
----------------------------------------------------------------------------------
Soren Oberg 75 State Street
Boston, MA 02109
----------------------------------------------------------------------------------
Putnam Investments, Inc. One Post Office Square
Boston, MA 02109
----------------------------------------------------------------------------------
</TABLE>
*Unless otherwise noted, each of the individuals listed above are United
States Citizens.
*No individual partner holds or maintains a controlling interest in TH Lee,
Putman Capital Advisors LLC.
