SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1)(1)
SMARTSERV ONLINE, INC.
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(Name of issuer)
COMMON STOCK
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(Title of class of securities)
13-3750708
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(CUSIP number)
THOMAS J. FLEMING, ESQ.
OLSHAN GRUNDMAN FROME ROSENZWEIG & WOLOSKY 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)
April 11, 2000
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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
/ /.
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.
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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. 13-3750708 13D Page 2 of 11 Pages
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(Continued on following pages)
(Page 2 of 11 Pages)
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Wireless Acquisition Partners, LLC
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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*
WC
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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
Delaware
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NUMBER OF 7 SOLE VOTING POWER
SHARES 370,832 shares (subject to adjustment
BENEFICIALLY and/or dispute)
OWNED BY ----------------------------------------------------------------
EACH
REPORTING
PERSON WITH
8 SHARED VOTING POWER
0 shares
----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
370,832 shares (subject to adjustment
and/or dispute)
----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
370,832 shares (subject to adjustment and/or dispute)
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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)
9.6%
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14 TYPE OF REPORTING PERSON*
00
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
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CUSIP No. 13-3750708 13D Page 3 of 11 Pages
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Gregg A. Smith
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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*
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
United States
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NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 370,832 shares (subject to adjustment
OWNED BY and/or dispute)
EACH ----------------------------------------------------------------
REPORTING
PERSON WITH
8 SHARED VOTING POWER
0 shares
----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
370,832 shares (subject to adjustment
and/or dispute)
----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0 shares
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
370,832 shares (subject to adjustment and/or dispute)
- --------------------------------------------------------------------------------
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)
9.6%
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14 TYPE OF REPORTING PERSON*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
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CUSIP No. 13-3750708 13D Page 4 of 11 Pages
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================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Michael Wainstein
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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*
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
United States
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NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 370,832 shares (subject to adjustment
OWNED BY and/or dispute)
EACH
REPORTING -----------------------------------------------------------------
PERSON WITH
8 SHARED VOTING POWER
0 shares
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
370,832 shares (subject to adjustment
and/or dispute)
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0 shares
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
370,832 shares (subject to adjustment and/or dispute)
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.6%
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14 TYPE OF REPORTING PERSON*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
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CUSIP No. 13-3750708 13D Page 5 of 11 Pages
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The Schedule 13D filed by the undersigned (the "Schedule 13D") on March
31, 2000, is hereby amended by this Amendment No. 1, dated April 13, 2000.
Item 5. Interest in Securities of the Issuer.
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Item 5 is amended to add the following:
On April 10, 2000, WAP closed on its acquisition from Rickel,
and thus acquired, among other things, the Underwriters Warrant and the
Supplemental Warrants.
On April 11, 2000, WAP sent to the Issuer the letter annexed
as exhibit E exercising its right to a cashless exchange of the Supplemental
Warrants. As a result of the cashless exercise of the Supplemental Warrants, WAP
believes that it is entitled to receive 190,832 shares of Common Stock, based on
the Supplemental Warrants giving rise to the right to acquire 200,000 shares at
the prices stated on the face of the Supplemental Warrants. WAP has utilized the
foregoing amount in computing its percentage interest set forth on the cover
sheets of this Amendment. If the Supplemental Warrants are adjusted to give
effect to the Issuer's 1 to 6 reverse stock split, then WAP would be entitled to
receive 31,805 shares as a result of this exercise, which would give the
Reporting Persons beneficial ownership of 211,805 shares representing 5.7% of
the issued and outstanding shares. The Issuer has not delivered any stock
certificates to WAP in response to its cashless exercise. All of the foregoing
computations are subject to the qualifications set forth in the Reporting
Persons' initial filing.
On April 12, 2000, WAP also sent to the Issuer the letter
annexed as Exhibit F.
Item 7. Material to be Filed as Exhibits
--------------------------------
Item 7 is amended to add the following:
Exhibits E. Letter from WAP to the Issuer, dated April 11,
2000.
Exhibit F. Letter from WAP to the Issuer, dated April 12,
2000.
<PAGE>
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CUSIP No. 13-3750708 13D Page 6 of 11 Pages
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SIGNATURES
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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: April 17, 2000
WIRELESS ACQUISITION PARTNERS, LLC
By:/s/ Michael Wainstein
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President - Michael Wainstein
/s/ Michael Wainstein
--------------------------------------
Michael Wainstein
/s/ Gregg A. Smith
--------------------------------------
Gregg A. Smith
<PAGE>
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CUSIP No. 13-3750708 13D Page 7 of 11 Pages
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EXHIBIT INDEX
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Exhibit Description Page
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A. Underwriters warrant to purchase common
stock and/or redeemable warrants, dated
March 21, 1996. (previously filed)
B. The Rickel/Issuer Agreement, dated April
24, 1997. (previously filed)
C. The Rickel/Issuer Agreement, dated May 19,
1997. (previously filed)
D. Order approving sale of debtor's assets in
In re Rickel & Associates, Inc., Case No.
98/B/47203 (SMB)(U.S. Bankruptcy Court,
S.D.N.Y.), dated March 20, 2000.
(previously filed)
E. Letter from WAP to the Issuer, dated 8
April 11, 2000
F. Letter from WAP to the Issuer, dated 10
April 12, 2000
<PAGE>
Exhibit E
WIRELESS ACQUISITION PARTNERS, LLC
505 Park Avenue, 14th Floor
New York, New York 10022
April 11, 2000
Via Federal Express
SmartServ Online Inc.
One Station Place
Stamford, CT 06902
Attention: Mr. Sebastian Cassetta
Chairman and CEO
Dear Mr. Cassetta:
Please be advised that, pursuant to the Order of the United
States Bankruptcy Court of the Southern District of New York, we have acquired
from Rickel & Associates, Inc. ("Rickel") all of its rights in, among other
things, (i) the Agreement dated April 24, 1997 between SmartServ Online, Inc.
("SSOL") and Rickel, including the warrants to be issued pursuant thereto; and
(ii) the Agreement dated May 19, 1997 between Rickel and SSOL, including the
warrants to be issued pursuant thereto (collectively, the "Agreements"). We
refer you to the Schedule 13D that we have filed with the Securities and
Exchange Commission to which is annexed copies of the Agreements and the Order
of the Bankruptcy Court approving the terms of the sale.
The Agreements entitle the holder to purchase 200,000 shares
of the Company's Common Stock exercisable $2.00 per share for 25,000 shares;
$2.25 per share for 25,000 shares; $2.75 for 25,000 shares; $3.00 per share for
50,000 shares; $3.50 for 25,000 shares; $3.75 for 25,000 shares; $4.00 for
25,000 shares. The Agreements further provide that the warrants will be subject
to a "cashless" exchange provision.
We hereby exercise all of the warrant holder's rights to
effectuate such a "cashless" exchange in exercising the warrants under the
Agreements, based upon the closing price on April 11, $65.125 per share. We
demand that SSOL provide us with share certificates in the appropriate amount,
as well as its computation underlying that amount. If SSOL takes the position
that the warrants are subject to adjustment based upon dilution,
recapitalization, or other events, please provide us with a number of shares
that you contend to be appropriate, along with
<PAGE>
an explanation of the basis for your computation. We reserve all of our rights
to dispute any share issuance based upon any exercise price, or number of
warrants, that differs from the figures set forth in the Agreements.
We also wish to put you on notice we contemplate the prompt
sale of any securities received pursuant to this exercise, because market
conditions now appear favorable. We insist that SSOL respond promptly to this
exercise and provide us with the certificates no later than the close of
business on Wednesday, April 13. In the event SSOL delays in delivering the
certificates, or fails to do so, we wish to put you on notice that we intend to
seek all appropriate remedies.
WIRELESS ACQUISITION PARTNERS, LLC
By: /s/ Michael Wainstein
-------------------------------------
Michael Wainstein
<PAGE>
Exhibit F
WIRELESS ACQUISITION PARTNERS, LLC
505 Park Avenue, 14th Floor
New York, New York 10022
April 12, 2000
Via Federal Express
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SmartServ Online Inc.
One Station Place
Stamford, CT 06902
Attention: Mr. Sebastian Cassetta
Chairman and CEO
Dear Mr. Cassetta:
Please be advised that, pursuant to the Order of the United
States Bankruptcy Court for the Southern District of New York, we have acquired
from Rickel & Associates, Inc. ("Rickel") all of its rights in, among other
things, the Underwriters Warrant dated March 21, 1996 (the "Underwriters
Warrant"), issued by SmartServ Online, Inc. ("SSOL"). We refer you to the
Schedule 13D that we have filed with the Securities and Exchange Commission to
which is annexed a copy of the Underwriters Warrant and the Order of the
Bankruptcy Court.
We request that SSOL deliver to us a new warrant in the name
of Wireless Acquisition Partners, LLC. In addition to those items in the
Schedule 13D, I enclose the following:
1. Affidavits of Lost Warrant Instruments;
2. Instruments of Transfer for the warrants;
3. Assignment and Bill of Sale between the Company and
Rickel;
4. Copy of resolutions of the Company authorizing the
transaction;
5. Power of attorney by Kenneth D. Rickel in favor of
Matthew B. King;
<PAGE>
6. An opinion of counsel, dated April 11, 2000,
regarding exemption from registration under the
Securities Act with respect to the SmarServ warrant.
In our informal discussions, you have advised us that SSOL
believes that the Underwriters Warrant, after adjustments, gives rise to the
right to purchase 90,000 shares at $13.50 per share, and for the purchase
warrants, 90,000 shares at $14.75 per share. We have not had an opportunity to
verify your computation. We request that you provide us with your final figures
promptly, along with your computation, as contemplated by Section 7(L) of the
Underwriters Warrant. We reserve our right to review and correct the foregoing
computation if it is in error.
Under Section 5(a) of the Underwriters Warrant, the Company
was obligated to give the holder 30 days notice of any registration statement
that it filed, so that the holder could have its shares and warrants included.
In December 1999, SSOL filed a registration statement, but in violation of
Section 5(a), it failed to give notice to the holder, or to include the shares
covered by the Underwriters Warrant. In addition, by letter dated February 10,
2000, the holder of Underwriters Warrant, Rickel, made demand upon SSOL to
register the Underwriters Warrant and its underlying shares within thirty days,
as contemplated by Section 5(b). More than thirty days has passed, but still no
registration statement has been filed.
We hereby demand that SSOL promptly cure these breaches and
register the warrants, purchase warrants and underlying shares, immediately.
Please take notice that we reserve our right to seek all appropriate remedies
for any losses that Warrant Acquisition Partners may suffer due to SSOL's breach
of the Underwriters Warrant.
WIRELESS ACQUISITION PARTNERS, LLC
By: /s/ Michael Wainstein
------------------------------------
Michael Wainstein
