SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
--------------
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. )1
NORTH ATLANTIC ACQUISITION CORP.
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(Name of issuer)
CLASS A COMMON STOCK
CLASS B COMMON STOCK
- --------------------------------------------------------------------------------
(Title of class of securities)
657289-10-4 (Class A Common Stock)
657289-20-3 (Class B Common Stock)
- --------------------------------------------------------------------------------
(CUSIP number)
STEVEN WOLOSKY, ESQ.
OLSHAN GRUNDMAN FROME & ROSENZWEIG LLP
505 Park Avenue
New York, New York 10022
(212) 753-7200
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(Name, address and telephone number of person
authorized to receive notices and communications)
August 22, 1997
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(Date of event which requires filing of this statement)
If the filing person has previously filed a statement on Schedule 13G
to report the acquisition which is the subject of this Schedule 13D, and is
filing this schedule because of Rule 13d-1(b)(3) or (4), check the following box
o.
Note. six copies of this statement, including all exhibits, should be
filed with the Commission. See Rule 13d-1(a) for other parties to whom copies
are to be sent.
(Continued on following pages)
(Page 1 of 17 Pages)
Exhibit Index Appears on Page 13
- --------
1 The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page
shall not be deemed to be "filed" for the purpose of Section 18 of the
Securities Exchange Act of 1934 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>
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CUSIP No. 657289-10-4 (Class A Common Stock) 13D Page 2 of 17 Pages
657289-20-3 (Class B Common Stock)
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================================================================================
1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
THE MARILYN AND BARRY RUBENSTEIN FAMILY FOUNDATION
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
PF, OO
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OR ORGANIZATION
USA
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NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 40,000 (Class A Common Stock)
OWNED BY
EACH
REPORTING
PERSON WITH
-----------------------------------------------------------------
8 SHARED VOTING POWER
-0-
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
40,000 (Class A Common Stock)
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
40,000 (Class A Common Stock)
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.4% (Class A Common Stock)
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14 TYPE OF REPORTING PERSON*
OO
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
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CUSIP No. 657289-10-4 (Class A Common Stock) 13D Page 3 of 17 Pages
657289-20-3 (Class B Common Stock)
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================================================================================
1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
BARRY RUBENSTEIN
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
PF, 00
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
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6 CITIZENSHIP OR PLACE OR ORGANIZATION
USA
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NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 50,000 (Class A Common Stock)
OWNED BY 14,000 (Class B Common Stock)
EACH
REPORTING
PERSON WITH
-----------------------------------------------------------------
8 SHARED VOTING POWER
40,000 (Class A Common Stock)
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
50,000 (Class A Common Stock)
14,000 (Class B Common Stock)
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
40,000 (Class A Common Stock)
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
90,000 (Class A Common Stock)
14,000 (Class B Common Stock)
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.9% (Class A Common Stock)
9.3% (Class B Common Stock)
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
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CUSIP No. 657289-10-4 (Class A Common Stock) 13D Page 4 of 17 Pages
657289-20-3 (Class B Common Stock)
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================================================================================
1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
MARILYN RUBENSTEIN
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
00
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OR ORGANIZATION
USA
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 0
OWNED BY
EACH
REPORTING
PERSON WITH
-----------------------------------------------------------------
8 SHARED VOTING POWER
40,000 (Class A Common Stock)
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
40,000 (Class A Common Stock)
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
40,000 (Class A Common Stock)
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.4% (Class A Common Stock)
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
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CUSIP No. 657289-10-4 (Class A Common Stock) 13D Page 5 of 17 Pages
657289-20-3 (Class B Common Stock)
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================================================================================
1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
BRIAN RUBENSTEIN
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
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4 SOURCE OF FUNDS*
00
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OR ORGANIZATION
USA
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 0
OWNED BY
EACH
REPORTING
PERSON WITH
-----------------------------------------------------------------
8 SHARED VOTING POWER
40,000 (Class A Common Stock)
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
40,000 (Class A Common Stock)
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
40,000 (Class A Common Stock)
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.4% (Class A Common Stock)
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
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CUSIP No. 657289-10-4 (Class A Common Stock) 13D Page 6 of 17 Pages
657289-20-3 (Class B Common Stock)
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================================================================================
1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
REBECCA RUBENSTEIN
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
00
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OR ORGANIZATION
USA
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 0
OWNED BY
EACH
REPORTING
PERSON WITH
-----------------------------------------------------------------
8 SHARED VOTING POWER
40,000 (Class A Common Stock)
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
40,000 (Class A Common Stock)
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
40,000 (Class A Common Stock)
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.4% (Class A Common Stock)
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
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CUSIP No. 657289-10-4 (Class A Common Stock) 13D Page 7 of 17 Pages
657289-20-3 (Class B Common Stock)
- -------------------------------------------- ----------------------------
The following constitutes the Schedule 13D filed by the undersigned
(the "Schedule 13D").
Item 1. SECURITY AND ISSUER.
This Statement relates to Class A Common Stock, par value $.01
per share ("Class A Common Stock") of North Atlantic Acquisition Corp. (the
"Issuer"). This Statement also relates to the Class B Exchangeable Common Stock,
par value, $.01 per share (the "Class B Common Stock") of the Issuer. On August
22, 1997, the Issuer offered 800,000 units (the "Units") consisting of one share
of Class A Common Stock and one redeemable warrant to purchase Class A Common
Stock (the "Warrant") and 150,000 shares of Class B Common Stock to the public
in a public offering (the "Offering"). The Warrant is not a voting security and
is not exercisable within sixty (60) days of the date of this Schedule 13D. The
principal executive offices of the Issuer are located at 850 Third Avenue, New
York, New York 10022.
Item 2. IDENTITY AND BACKGROUND.
This Statement is filed by The Marilyn and Barry Rubenstein
Family Foundation (the "Foundation"), Barry Rubenstein, as a trustee of the
Foundation and on behalf of the Barry Rubenstein Rollover IRA, and each of
Marilyn Rubenstein, Brian Rubenstein and Rebecca Rubenstein as trustees of the
Foundation. The Foundation is an organization which is exempt from Federal
income taxation pursuant to Section 501(a) of the Internal Revenue Code of 1986,
as amended (the "Code"). Barry Rubenstein has the sole power to vote and dispose
of the Class A Common Stock and Class B Common Stock owned by the Barry
Rubenstein Rollover IRA. By virtue of their position with the Foundation, each
of Barry Rubenstein, Marilyn Rubenstein, Brian Rubenstein and Rebecca Rubenstein
has shared power to vote and dispose of the shares of Class A Common Stock owned
by the Foundation. Each of the foregoing are referred to as a Reporting Person.
Based upon the foregoing, each of the Reporting Persons are hereby filing a
joint Schedule 13D.
(b) The principal business address of each Reporting Person is
68 Wheatley Road, Brookville, New York 11545.
(c) The principal business of the Foundation is a charitable
foundation. The principal occupation of Barry Rubenstein is as a general partner
of partnerships and other entities engaged in the investment business. The
principal occupation of Marilyn Rubenstein is a housewife. Marilyn Rubenstein is
the wife of Barry Rubenstein. The principal occupation of Brian Rubenstein is a
corporate finance staff analyst. The principal occupation of Rebecca Rubenstein
is a
<PAGE>
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CUSIP No. 657289-10-4 (Class A Common Stock) 13D Page 8 of 17 Pages
657289-20-3 (Class B Common Stock)
- -------------------------------------------- ----------------------------
schoolteacher. Brian Rubenstein and Rebecca Rubenstein are the children of Barry
Rubenstein and Marilyn Rubenstein.
(d) No Reporting Person has, during the last five years, been
convicted in a criminal proceeding (excluding traffic violations or similar
misdemeanors).
(e) No Reporting Person has, during the last five years, been
party to a civil proceeding of a judicial or administrative body of competent
jurisdiction and as a result of such proceeding was or is subject 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.
(f) Each of Barry Rubenstein, Marilyn Rubenstein, Brian
Rubenstein and Rebecca Rubenstein is a citizen of the United States
of America.
Item 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
The aggregate purchase price of the 40,000 shares of Class A
Common Stock owned by the Foundation is $400,000 (based upon the purchase price
of the Units). The shares of Class A Common Stock owned by the Foundation were
acquired from its other funds. The aggregate purchase price of the 50,000 shares
of Class A Common Stock and 14,000 shares of Class B Common Stock purchased by
the Barry Rubenstein Rollover IRA is $640,000 and came from its other funds.
Item 4. PURPOSE OF TRANSACTION.
The Reporting Persons purchased the shares of Class A Common
Stock and Class B Common Stock for investment purposes. No Reporting Person has
any present plans or proposals which would relate to or result in any of the
matters set forth in subparagraphs (a) - (j) of Item 4 of Schedule 13D.
Item 5. INTEREST IN SECURITIES OF THE ISSUER.
(a) The following lists set forth the aggregate number and
percentage (based on 906,000 shares of Class A Common Stock outstanding as
reported by the Issuer in its prospectus, dated August 22, 1997 (the
"Prospectus")) of Class A Common Stock beneficially owned by each of the
Reporting Persons and Class B Common Stock owned by Barry Rubenstein (based upon
150,000 shares of Class B Common Stock outstanding as reported in the
Prospectus). Each such percentage excludes any Class A Common Stock or Class B
Common Stock which may be issuable upon exercise of the underwriter's
over-allotment option set forth in the Prospectus.
<PAGE>
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CUSIP No. 657289-10-4 (Class A Common Stock) 13D Page 9 of 17 Pages
657289-20-3 (Class B Common Stock)
- -------------------------------------------- ----------------------------
Shares Percentage
Name Beneficially Owned Of Shares
- ---- ------------------ ---------
CLASS A COMMON STOCK
Foundation 40,000 4.4%
Barry Rubenstein 90,000 9.9%
Marilyn Rubenstein 40,000 4.4%
Brian Rubenstein 40,000 4.4%
Rebecca Rubenstein 40,000 4.4%
CLASS B COMMON STOCK
Barry Rubenstein 14,000 9.3%
(b) Barry Rubenstein has the sole power to vote and dispose of
the 50,000 Class A Common Stock and 14,000 shares of Class B Common Stock owned
by the Barry Rubenstein Rollover IRA and as a trustee of the Foundation may be
deemed to have shared voting power of 40,000 shares of Class A Common Stock
owned by the Foundation. Each of Marilyn Rubenstein, Brian Rubenstein and
Rebecca Rubenstein, as a trustee of the Foundation, may be deemed to have shared
voting power of the 40,000 shares of Class A Common Stock owned by the
Foundation.
(c) Class A Schedule A annexed hereto lists all transactions
in the Issuer's Class A Common Stock and Class B Common Stock in the last sixty
days by the Reporting Persons. All shares of Class A Common Stock and Class B
Common Stock were purchased in the Offering.
(d) No person other than the Reporting Persons is known to
have the right to receive, or the power to direct the receipt of dividends from,
or proceeds from the sale of, such shares of Class A Common Stock and Class B
Common Stock.
(e) Not applicable.
Item 6. CONTRACTS, AGREEMENTS, UNDERSTANDINGS OR RELATIONSHIPS
WITH RESPECT TO SECURITIES OF THE ISSUER.
There are no contracts, arrangements or understandings among
the Reporting Persons, or between the Reporting Persons and any other Person,
with respect to the securities of the Issuer.
<PAGE>
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CUSIP No. 657289-10-4 (Class A Common Stock) 13D Page 10 of 17 Pages
657289-20-3 (Class B Common Stock)
- -------------------------------------------- ----------------------------
Item 7. Material to be Filed as Exhibits.
A. Joint Filing Agreement
B. Power of Attorney, dated August 27, 1997, appointing
Barry Rubenstein as attorney-in-fact for Marilyn
Rubenstein.
C. Power of Attorney, dated August 28, 1997,
appointing Barry Rubenstein as attorney-in-fact for
Brian Rubenstein.
D. Power of Attorney, dated August 27, 1997,
appointing Marilyn Rubenstein as attorney-in-fact
for Rebecca Rubenstein.
<PAGE>
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CUSIP No. 657289-10-4 (Class A Common Stock) 13D Page 11 of 17 Pages
657289-20-3 (Class B Common Stock)
- -------------------------------------------- ----------------------------
SIGNATURES
After reasonable inquiry and to the best of his knowledge and
belief, each of the undersigned certifies that the information set forth in this
statement is true, complete and correct.
Dated: August 28, 1997 THE BARRY AND MARILYN RUBENSTEIN
FOUNDATION
By:/S/ BARRY RUBENSTEIN
-------------------------------------
Barry Rubenstein, a Trustee
/S/ BARRY RUBENSTEIN
----------------------------------------
Barry Rubenstein
*
----------------------------------------
Marilyn Rubenstein
*
----------------------------------------
Brian Rubenstein
*
----------------------------------------
Rebecca Rubenstein
By: */S/ BARRY RUBENSTEIN
----------------------------------
Barry Rubenstein, Attorney-in-Fact
<PAGE>
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CUSIP No. 657289-10-4 (Class A Common Stock) 13D Page 12 of 17 Pages
657289-20-3 (Class B Common Stock)
- -------------------------------------------- ----------------------------
SCHEDULE A
TRANSACTIONS IN THE SHARES WITHIN THE PAST 60 DAYS
Price Per Date of
Purchased (Sale) Unit/share Purchase
---------------- ---------- --------
FOUNDATION
40,000 $10.00 8/22/97
(Class A Common Stock)
BARRY RUBENSTEIN ROLLOVER IRA
50,000 $10.00 8/22/97
(Class A Common Stock)
14,000 $10.00 8/22/97
(Class B Common Stock)
<PAGE>
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CUSIP No. 657289-10-4 (Class A Common Stock) 13D Page 13 of 17 Pages
657289-20-3 (Class B Common Stock)
- -------------------------------------------- ----------------------------
EXHIBIT INDEX
EXHIBIT PAGE
A. Joint Filing Agreement 14
B. Power of Attorney, dated August 27, 15
1997, appointing Barry Rubenstein as
attorney-in-fact for Marilyn
Rubenstein.
C. Power of Attorney, dated August 28, 16
1997, appointing Barry Rubenstein as
attorney-in-fact for Brian Rubenstein.
D. Power of Attorney, dated August 27, 17
1997, appointing Barry Rubenstein as
attorney-in-fact for Rebecca
Rubenstein.
<PAGE>
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CUSIP No. 657289-10-4 (Class A Common Stock) 13D Page 14 of 17 Pages
657289-20-3 (Class B Common Stock)
- -------------------------------------------- ----------------------------
EXHIBIT A
JOINT FILING AGREEMENT
In accordance with Rule 13d-1(f)(1)(iii) under the Securities
Exchange Act of 1934, as amended, the persons named below agree to the joint
filing on behalf of each of them of a Statement on Schedule 13D dated August 28,
1997 (including amendments thereto) with respect to the Class A Common Stock and
Class B Common Stock of North Atlantic Acquisition Corp. This Joint Filing
Agreement shall be filed as an Exhibit to such Statement.
Dated: August 28, 1997 THE BARRY AND MARILYN RUBENSTEIN
FOUNDATION
By:/S/ BARRY RUBENSTEIN
-------------------------------------
Barry Rubenstein, a Trustee
/S/ BARRY RUBENSTEIN
----------------------------------------
Barry Rubenstein
*
----------------------------------------
Marilyn Rubenstein
*
----------------------------------------
Brian Rubenstein
*
----------------------------------------
Rebecca Rubenstein
By: */S/ BARRY RUBENSTEIN
----------------------------------
Barry Rubenstein, Attorney-in-Fact
<PAGE>
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CUSIP No. 657289-10-4 (Class A Common Stock) 13D Page 15 of 17 Pages
657289-20-3 (Class B Common Stock)
- -------------------------------------------- ----------------------------
EXHIBIT B
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS, that the person whose signature appears
below constitutes and appoints BARRY RUBENSTEIN, his true and lawful
attorney-in-fact and agent, with full power of substitution and resubstitution,
for him and in his name, place and stead, in any and all capacities, to sign any
and all statements and reports required under Section 13(d) of the Securities
Exchange Act of 1934, as amended, including, without limitation, Schedule 13D
and all amendments of all such statements and/or reports, and to file the same,
with all exhibits thereto, and other documents in connection therewith, with the
Securities and Exchange Commission and with such other parties as may be
required, granting unto said attorney-in-fact and agent, and each of them, full
power and authority to do and perform each and every act and thing requisite and
necessary to be done in and doubt the premises, as fully to all intents and
purposes as he might or could do in person, hereby ratifying and confirming all
that said attorney-in-fact and agent or any of them, or their or his substitute
or substitutes, may lawfully do or cause to be done by virtue thereof.
IN WITNESS WHEREOF, I have hereunto set my hand this 27 day of August,
1997.
/S/ MARILYN RUBENSTEIN
----------------------------------------
Marilyn Rubenstein
<PAGE>
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CUSIP No. 657289-10-4 (Class A Common Stock) 13D Page 16 of 17 Pages
657289-20-3 (Class B Common Stock)
- -------------------------------------------- ----------------------------
EXHIBIT C
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS, that the person whose signature appears
below constitutes and appoints BARRY RUBENSTEIN, his true and lawful
attorney-in-fact and agent, with full power of substitution and resubstitution,
for him and in his name, place and stead, in any and all capacities, to sign any
and all statements and reports required under Section 13(d) of the Securities
Exchange Act of 1934, as amended, including, without limitation, Schedule 13D
and all amendments of all such statements and/or reports, and to file the same,
with all exhibits thereto, and other documents in connection therewith, with the
Securities and Exchange Commission and with such other parties as may be
required, granting unto said attorney-in-fact and agent, and each of them, full
power and authority to do and perform each and every act and thing requisite and
necessary to be done in and doubt the premises, as fully to all intents and
purposes as he might or could do in person, hereby ratifying and confirming all
that said attorney-in-fact and agent or any of them, or their or his substitute
or substitutes, may lawfully do or cause to be done by virtue thereof.
IN WITNESS WHEREOF, I have hereunto set my hand this 28 day of August,
1997.
/S/ BRIAN RUBENSTEIN
----------------------------------------
Brian Rubenstein
<PAGE>
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CUSIP No. 657289-10-4 (Class A Common Stock) 13D Page 17 of 17 Pages
657289-20-3 (Class B Common Stock)
- -------------------------------------------- ----------------------------
EXHIBIT D
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS, that the person whose signature appears
below constitutes and appoints BARRY RUBENSTEIN, his true and lawful
attorney-in-fact and agent, with full power of substitution and resubstitution,
for him and in his name, place and stead, in any and all capacities, to sign any
and all statements and reports required under Section 13(d) of the Securities
Exchange Act of 1934, as amended, including, without limitation, Schedule 13D
and all amendments of all such statements and/or reports, and to file the same,
with all exhibits thereto, and other documents in connection therewith, with the
Securities and Exchange Commission and with such other parties as may be
required, granting unto said attorney-in-fact and agent, and each of them, full
power and authority to do and perform each and every act and thing requisite and
necessary to be done in and doubt the premises, as fully to all intents and
purposes as he might or could do in person, hereby ratifying and confirming all
that said attorney-in-fact and agent or any of them, or their or his substitute
or substitutes, may lawfully do or cause to be done by virtue thereof.
IN WITNESS WHEREOF, I have hereunto set my hand this 27 day of August,
1997.
/S/ REBECCA RUBENSTEIN
----------------------------------------
Rebecca Rubenstein
