<PAGE>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D/A
(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)*
Riscorp, Inc.
- --------------------------------------------------------------------------------
(Name of issuer)
Shares of Class A Common Stock, par value $0.01 per share
- --------------------------------------------------------------------------------
(Title of class of securities)
767597107
------------------------------------------------------------
(CUSIP number)
Seth W. Hamot, 121-B Tremont Street, Brighton, MA 02135 (617) 787-2940
- --------------------------------------------------------------------------------
(Name, address and telephone number of person authorized to receive notices and
communications)
April 29, 1999
------------------------------------------------------------
(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 which is the subject of this Schedule 13D, and is filing this
schedule because of (S)(S)240.13d-(e), 240.13d-1(f) or 204.13(d)-1(g), check
the following box [_].
Note: Schedules filed in paper format shall include a signed original and
five copies of the schedule. See (S)240.13d-7 for other parties to whom copies
are to be sent.
(Continued on the following pages)
(Page 1 of 18 Pages)
________________________________
*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 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>
SCHEDULE 13D
- ----------------------- ---------------------
CUSIP NO. 767597107 PAGE 2 OF 14 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Seth W. Homot
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [X]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
PF
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
United States
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF Seth W. Hamot 811,300
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
Seth W. Hamot 10,000
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING Seth W. Hamot 811,300
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
Seth W. Hamot 10,000
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
Seth W. Hamot 821,300
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
5.76%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
IN
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
SCHEDULE 13D
- ----------------------- ---------------------
CUSIP NO. 767597107 PAGE 3 OF 14 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Costa Brava Partnership II Limited Partnership (04-3387028)
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [X]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
WC
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Massachusetts
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
Costa Brava II 766,300
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
Costa Brava II 766,300
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
Costa Brava II 766,300
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
5.37%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
PN
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
SCHEDULE 13D
- ----------------------- ---------------------
CUSIP NO. 767597107 PAGE 4 OF 14 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Roark, Rearden & Hamot Inc (04-3242639)
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [X]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
WC
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Massachusetts
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
Roark, Rearden & Hamot Inc. 766,300
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
Roark, Rearden & Hamot Inc. 766,300
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
Roark, Rearden & Hamot Inc. 766,300
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
5.37%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
CO
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
SCHEDULE 13D
- ----------------------- ---------------------
CUSIP NO. 767597107 PAGE 5 OF 14 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Seth W. Hamot, as custodian for Gideon B. Hamot under the Massachusetts
Uniform Transfers to Minors Act
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [X]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
PF
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
United States
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF Seth W. Hamot, as custodian for Gideon B. Hamot under
the Massachusetts Uniform Transfers to Minors Act
5,000
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING Seth W. Hamot, as custodian for Gideon B. Hamot under
the Massachusetts Uniform Transfers to Minors Act
5,000
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
Seth W. Hamot, as custodian for Gideon B. Hamot under the Massachusetts
Uniform Transfers to Minors Act 5,000
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
0.04%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
IN
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
SCHEDULE 13D
- ----------------------- ---------------------
CUSIP NO. 767597107 PAGE 6 OF 14 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Charles H. Parkhurst
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [X]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
PF
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
United States
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
Charles H. Parkhurst 128,400
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
Charles H. Parkhurst 60,000
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING Charles H. Parkhurst 128,400
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
Charles H. Parkhurst 60,000
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
Charles H. Parkhurst 188,400
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
1.32%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
IN
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
SCHEDULE 13D
- ----------------------- ---------------------
CUSIP NO. 767597107 PAGE 7 OF 14 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Charles H. Parkhurst, as custodian for Catherine Parkhurst under the New
York Uniform Transfers to Minors Act
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [X]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
PF
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
United States
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF Charles H. Parkhurst, as custodian for Catherine
Parkhurst under the New York Uniform Transfers to
Minors Act 15,000
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING Charles H. Parkhurst, as custodian for Catherine
Parkhurst under the New York Uniform Transfers to
Minors Act 15,000
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
Charles H. Parkhurst, as custodian for Catherine Parkhurst under the New
York Uniform Transfers to Minors Act 15,000
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
0.11%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
IN
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
SCHEDULE 13D
- ----------------------- ---------------------
CUSIP NO. 767597107 PAGE 8 OF 14 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Charles H. Parkhurst, as custodian for Charles B. Parkhurst under the New
York Uniform Transfers to Minors Act
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [X]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
PF
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
United States
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF Charles H. Parkhurst, as custodian for Charles B.
Parkhurst under the New York Uniform Transfers to
Minors Act 30,000
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING Charles H. Parkhurst, as custodian for Charles B.
Parkhurst under the New York Uniform Transfers to
Minors Act 30,000
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
Charles H. Parkhurst, as custodian for Charles B. Parkhurst under the New
York Uniform Transfers to Minors Act 30,000
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
0.21%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
IN
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
SCHEDULE 13D
- ----------------------- ---------------------
CUSIP NO. 767597107 PAGE 9 OF 14 PAGES
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Charles H. Parkhurst, as custodian for William Parkhurst under the New
York Uniform Transfers to Minors Act
- ------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
2 (a) [_]
(b) [X]
- ------------------------------------------------------------------------------
SEC USE ONLY
3
- ------------------------------------------------------------------------------
SOURCE OF FUNDS*
4
PF
- ------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
United States
- ------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF Charles H. Parkhurst, as custodian for William
Parkhurst under the New York Uniform Transfers to
Minors Act 15,000
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING Charles H. Parkhurst, as custodian for William
Parkhurst under the New York Uniform Transfers to
Minors Act 15,000
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
- ------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
Charles H. Parkhurst, as custodian for William Parkhurst under the New
York Uniform Transfers to Minors Act 15,000
- ------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[_]
- ------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
0.11%
- ------------------------------------------------------------------------------
TYPE OF REPORTING PERSON*
14
IN
- ------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
ITEM 1. SECURITY AND ISSUER
Securities acquired: Shares of Class A Common Stock
Par value of $0.01 per share
Issuer: Riscorp, Inc.
One Sarasota Tower
Suite 608
2 North Tamiami Trail
Sarasota, Florida 34236
941-366-5015
ITEM 2. IDENTITY AND BACKGROUND
This Amendment No. 2 to Schedule 13D (the "Schedule 13D/A") is being filed on
behalf of Seth W. Hamot (SWH), Costa Brava Partnership II Limited Partnership, a
Massachusetts limited partnership (CBII), Roark, Rearden & Hamot, Inc., a
Massachusetts corporation (RRH), Seth W. Hamot, as custodian for Gideon B. Hamot
under the Massachusetts Uniform Transfers to Minors Act (GBH), Charles H.
Parkhurst (CHP), Charles H. Parkhurst, as custodian for Catherine Parkhurst
under the New York Uniform Transfers to Minors Act (CXP), Charles H. Parkhurst,
as custodian for William Parkhurst under the New York Uniform Transfers to
Minors Act (WXP), Charles H. Parkhurst as custodian for Charles B. Parkhurst
under the New York Transfers to Minors Act (CBP) as an amendment to the initial
statement on Schedule 13D filed with the Commission on September 29, 1998, on
behalf of SWH, CBII, RRH and others, and to an Amendment No. 1 to Schedule 13D
filed with the Commission on April 21, 1999, by SWH, CBII, RRH, GBH, CHP, CXP,
WXP and others.
This Schedule 13D relates to shares of Class A Common Stock of the Issuer
purchased by CBII, of which RRH is the general partner, SWH for his own account,
GBH for his own account, CHP for his own account, CXP for her own account, WXP
for his own account and CBP for his own account.
RRH, a Massachusetts corporation, is the general partner of CBII, and is located
at 121-B Tremont Street, Brighton, MA 02155. Mr. Hamot is the principal of RRH.
The principal occupation of Mr. Hamot is investment management, and he is a
United States citizen.
The principal occupation of Mr. Parkhurst is investment management, and he is a
United States citizen with an address of 93 Old Church Road, Greenwich, CT
06830.
Neither RRH, CBII, SWH, GBH, CHP, CXP, WXP, nor CBP has been convicted in a
criminal proceeding during the last five years. Neither RRH, CBII, SWH, GBH,
CHP, CXP, WXP nor CBP was a party to a civil proceeding of a judicial or
administrative body of competent jurisdiction and, as a result thereof, subject
to any judgement, decree, or final order enjoining future violations of, or
prohibiting or mandating activities subject to, federal or state securities laws
or finding any violations with respect to such laws.
ITEM 3. SOURCE AND AMOUNT OF FUNDS
As of April 29, 1999, CBII had invested $924,689.99, SWH had invested
$51,913.73, GBH had invested $5,166.00, CHP had invested $225,361.25, CXP had
invested $17,990.00, and WXP had invested $17,990.00, and CBP had invested
$47,027.00 in shares of Class a Common Stock. The sources of all these funds
were the working capital of each entity or personal funds of SWH, GBH , CHP,
CXP, WXP and CBP.
ITEM 4. PURPOSE OF TRANSACTION
RRH, CBII, SWH, GBH, CHP, CXP, WXP and CBP acquired the Shares as an investment
and with a view to making a profit. None of the Reporting Persons has any plans
or proposals which relate to or would result in a) any extraordinary corporate
transaction, such as a merger, reorganization or liquidation, involving the
issuer or any of its subsidiaries; b) any sale or transfer of a material amount
of assets of the issuer or any of its subsidiaries; c)any changes in the present
manager of the Issuer; d) any change in the present capitalization of dividend
policy of the issuer; e) any other material change in the Issuer's business or
corporate structure; f) any change in the issuer's charter, by-laws or
instruments corresponding thereto or other actions which may impede the
acquisition of control of the issuer by any person; g) causing a class of
securities of the Issuer to be delisted from a national securities exchange or
to cease to be authorized to be quoted in an interdealer quotation system of
registered national securities association; h) causing a class of securities of
the Issuer to become eligible for termination of registration pursuant to
Section 12(g)(4) of the Act; or i) any action similar to those enumerated in
this sentence.
The Reporting Persons are considering the commencement of litigation, under the
legal theory of equitable subordination, against William D. Griffin, RISCORP
Group Holding Company, L.P. and the William D. Griffin Family Limited
Partnership (the general partners of which are Gryphus Company I and Gryphus
Company II), which as a group own over 91% of the Class B shares of the Issuer.
The reporting persons are also considering other legal strategies.
<PAGE>
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
(a) - (b) As of April 29, 1999, SWH is the beneficial owner of 45,000 shares and
may be deemed beneficial owner of 821,300 shares of Class A Common Stock of the
Issuer or 5.76% of the shares outstanding; (ii) CBII is beneficial owner of and
RRH may be deemed the beneficial owner of 766,300 shares of Class A Common Stock
of the Issuer or 5.37% of the shares outstanding; (iii) GBH is the beneficial
owner of 5,000 shares of Class A common stock of the Issuer or 0.04% of the
shares outstanding; (iv) CHP is the beneficial owner of 128,400 shares and may
be deemed beneficial owner of 188,400 shares of Class A common stock of the
Issuer or 1.32% of the shares outstanding; (v) CXP is the beneficial owner of
15,000 shares of Class A common stock of the Issuer or 0.11% of the shares
outstanding; (vi) WXP is the beneficial owner of 15,000 shares of Class A common
stock of the Issuer or 0.11% of the shares outstanding; and (vii) CBP is the
beneficial owner of 30,000 shares of Class A common stock of the Issuer or 0.21%
of the shares outstanding. The amount of shares beneficially owned has been
computed in accordance with Rule 13d-3 under the Act. The percentage of
beneficial ownership of SWH, RRH, CBII, GBH, CHP, CXP, WXP and CBP on April 29,
1999 is based upon 14,258,671 outstanding shares of Common Stock as of March 19,
1999 as reported in the Issuer's Annual Report filed with the Commission on
March 23, 1999.
<TABLE>
<CAPTION>
- --------------------------------------------------------------------------------------------------------------
Number of Number of
Aggregate Shares: Sole Number of Shares: Sole
Number Power to Shares: Shared Power to Approx.
Filing Party of Shares Vote Power to Vote Dispose Percentage*
- -----------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
SWH 821,300 811,300 10,000 811,300 5.76%
- -----------------------------------------------------------------------------------------------------
CBII 766,300 766,300 766,300 5.37%
- -----------------------------------------------------------------------------------------------------
RRH 766,300 766,300 766,300 5.37%
- -----------------------------------------------------------------------------------------------------
GBH 5,000 5,000 5,000 0.04%
- -----------------------------------------------------------------------------------------------------
CHP 188,400 128,400 60,000 128,400 1.32%
- -----------------------------------------------------------------------------------------------------
CXP 15,000 15,000 15,000 0.11%
- -----------------------------------------------------------------------------------------------------
WXP 15,000 15,000 15,000 0.11%
- -----------------------------------------------------------------------------------------------------
CBP 30,000 30,000 30,000 0.21%
- -----------------------------------------------------------------------------------------------------
* Based upon 14,258,671 outstanding shares of Common Stock as of March 19, 1999
as reported in the Issuer's Annual Report filed with the Commission on March 23,
1999.
- -----------------------------------------------------------------------------------------------------
</TABLE>
c) Transactions in the Issuer's securities by CBII, SWH, GBH, CHP, CXP,
WXP and CBP during the last sixty days. All transaction occurred on the NASDAQ
OTC market.
<TABLE>
<CAPTION>
Date Purchase/Sale # of Shares Price per share ($)
- ---------------------------------------------------------------------
<S> <C>
For CBII
- ---------
3/29/99 P 5,000 $ 1.25
3/28/99 P 5,000 $ 1.28
3/29/99 P 2,000 $ 1.38
3/29/99 P 3,000 $ 1.44
3/29/99 P 10,000 $ 1.47
4/29/99 P 10,000 $ 1.48
For CHP
- -------
4/29/99 P 400 $ 1.55
4/19/99 P 10,000 $ 1.54
4/12/99 P 5,000 $ 1.47
4/6/99 P 4,000 $ 1.49
4/6/99 P 5,000 $ 1.47
4/6/99 P 2,000 $ 1.49
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C> <C>
4/6/99 P 3,000 $ 1.49
4/5/99 P 1,000 $ 1.40
4/5/99 P 4,000 $ 1.46
4/5/99 P 5,000 $ 1.46
4/5/99 P 1,000 $ 1.41
4/5/99 P 4,000 $ 1.47
4/1/99 P 2,000 $ 1.33
For CXP
- -------
4/15/99 P 5,000 $ 1.54
For WXP
- -------
4/15/99 P 5,000 $ 1.54
For CBP
- -------
4/21/99 P 10,000 $ 1.54
4/20/99 P 10,000 $ 1.63
4/19/99 P 5,000 $ 1.54
4/15/99 P 5,000 $ 1.54
d) NA
e) NA
</TABLE>
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO
SECURITIES OF THE ISSUER.
NA
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
Exhibit 7(a): Joint Filing Agreement
<PAGE>
SIGNATURE
After due inquiry, to the best of our knowledge and belief, we certify that
the information set forth in this statement is true, complete and correct.
Dated: June 1, 1999
/s/ Seth W. Hamot
-----------------------------------
Seth W. Hamot
Costa Brava Partnership II Limited Partnership
By: Roark, Rearden & Hamot, Inc., its general
partner
By: /s/ Seth W. Hamot
----------------------------
Seth W. Hamot
Its: President
Roark, Rearden & Hamot, Inc.
By: /s/ Seth W. Hamot
---------------------------
Seth W. Hamot
Its: President
/s/ Seth W. Hamot
-----------------------------------
Seth W. Hamot, as custodian for Gideon B. Hamot
under the Massachusetts Uniform Transfers to
Minors Act
/s/ Charles H. Parkhurst
-----------------------------------
Charles H. Parkhurst
/s/ Charles H. Parkhurst
-----------------------------------
Charles H. Parkhurst, as custodian for Catherine
Parkhurst under the New York Uniform Transfers to
Minors Act
/s/ Charles H. Parkhurst
-----------------------------------
Charles H. Parkhurst, as custodian for William
Parkhurst under the New York Uniform Transfers to
Minors Act
/s/ Charles H. Parkhurst
-----------------------------------
Charles H. Parkhurst, as custodian for Charles
B. Parkhurst under the New York Uniform Transfers
to Minors Act
<PAGE>
EXHIBIT 7(a)
JOINT FILING AGREEMENT
In accordance with Rule 13d-1(k) under the Securities Exchange Act of
1934, as amended, the undersigned agree to the joint filing on behalf of each of
them of a statement on Schedule 13D (including amendments thereto) with respect
to the Class A Common Stock of Riscorp, Inc. and further agree that this
agreement be included as an exhibit to such filing. Each party to the agreement
expressly authorizes each other party to file on its behalf any and all
amendments to such statement. Each party to this agreement agrees that this
joint filing agreement may be signed in counterparts.
In evidence whereof, the undersigned have caused this Agreement to be
executed on their behalf this 1st day of June, 1999
/s/ Seth W. Hamot
-----------------------------------------------------
Seth W. Hamot
Costa Brava Partnership II Limited Partnership
By: Roark, Rearden & Hamot, Inc., its general partner
By: /s/ Seth W. Hamot
---------------------------------------------
Seth W. Hamot
Its: President
Roark, Rearden & Hamot, Inc.
By: /s/ Seth W. Hamot
---------------------------------------------
Seth W. Hamot
Its: President
/s/ Seth W. Hamot
-----------------------------------------------------
Seth W. Hamot, as custodian for Gideon B. Hamot under the
Massachusetts Uniform Transfers to Minors Act
/s/ Charles H. Parkhurst
-----------------------------------------------------
Charles H. Parkhurst
/s/ Charles H. Parkhurst
-----------------------------------------------------
Charles H. Parkhurst, as custodian for Catherine
Parkhurst under the New York Uniform Transfers to Minors
Act
/s/ Charles H. Parkhurst
-----------------------------------------------------
Charles H. Parkhurst, as custodian for William Parkhurst
under the New York Uniform Transfers to Minors Act
/s/ Charles H. Parkhurst
-----------------------------------------------------
Charles H. Parkhurst, as custodian for Charles B.
Parkhurst under the New York Uniform Transfers to Minors
Act
