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FORM 3 OMB APPROVAL
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OMB Number: 3235-0104
Expires: September 30, 1999
Estimated average burden
hours per response ....... 0.5
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(f)
of the Investment Company Act of 1940
(Print or Type Responses)
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<S> <C> <C> <C>
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1. Name and Address of Reporting Person* 2. Date of Event Requiring 4. Issuer Name and Ticker or 6. If Amendment, Date
Statement Trading Symbol of Original
SPECIAL VALUE BOND FUND, LLC Party City Corporation (Month/Day/Year)
- ---------------------------------------- (Month/Day/Year) (Nasdaq National Market: PCTY)
(Last) (First) (Middle) September 1, 1999 ---------------------------------- June 26, 1999(1)
11100 Santa Monica Boulevard, Suite 210 ---------------------------- 5. Relationship of Reporting -----------------------
- ---------------------------------------- 3. IRS or Social Security Person to Issuer 7. Individual or Joint/
(Street) Number of Reporting (Check all applicable) Group Filing (Check
Los Angeles, California 90025 Person (Voluntary) Director X 10% Owner Applicable Line)
- -------------------------------------- 95-4758920 ----- ----- Form filed by
(City) (State) (Zip) ---------------------------- Officer Other ----- One Reporting
----- (give ----- (specify Person
title below) below) X Form filed by
----- More than One
---------------------------------- Reporting Person
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TABLE 1 -- NON-DERIVATIVE SECURITIES BENEFICIALLY OWNED
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1. Title of Security 2. Amount of Securities 3. Ownership Form: 4. Nature of Indirect
(Instr. 4) Beneficially Owned Direct (D) or Beneficial
(Instr. 4) Indirect (I) Ownership (Instr. 5)
(Instr. 5)
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(1)SEE THE DESCRIPTION UNDER THE HEADING "REASON FOR AMENDMENT" IN THE FORM 3 CONTINUATION SHEET ATTACHED HERETO.
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. (Over)
*If the Form is filed by more than one Reporting Person, see Instruction 5(b)(b) SEC 1473 (7/96)
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FORM 3 (CONTINUED) TABLE II -- DERIVATIVE SECURITIES BENEFICIALLY OWNED
(e.g., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
<S> <C> <C> <C> <C> <C>
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1. Title of Derivative Security 2. Date 3. Title and Amount of 4. Conver- 5. Owner- 6. Nature of Indirect
(Instr. 4) Exercisable and Securities Underlying sion or ship Beneficial Ownership
Expiration Date Derivative Security Exercise Form of (Instr. 5)
(Month/Day/ (Instr. 4) Price of Deriv-
Year) Deriv- ative
ative Security:
Security Direct
------------------------------------------------- (D) or
Date Expira- Amount or Indirect (I)
Exercis- tion Title Number (Instr. 5)
able Date of Shares
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WARRANT 8/16/99 8/16/06 COMMON STOCK, 3,096,000 $3.00 D
PAR VALUE
$.01 PER SHARE
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Explanation of Responses: SPECIAL VALUE BOND FUND, LLC SEPTEMBER 10, 1999
BY: SVIM/MSM, LLC, ITS MANAGING MEMBER
See the description under the heading "Joint Filer Information" BY: TENNENBAUM & CO., LLC, ITS MANAGING MEMBER
in the Form 3 Continuation Sheet attached hereto. BY: /s/ MICHAEL E. TENNENBAUM
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Michael E. Tennenbaum,
Its Managing Member
**Signature of Reporting Person Date
**Intentional misstatements or omissions of facts constitute Federal Criminal
Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this form, one of which must be manually signed. Page 2
If space provided is insufficient, see Instruction 6 for procedure. SEC 1473 (7/96)
Potential persons who are to respond to the collection of information contained in this form
are not required to respond unless the form displays a currently valid OMB Number.
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FORM 3 CONTINUATION SHEET
REASON FOR AMENDMENT:
On September 1, 1999, Special Value Bond Fund, LLC ("SVBF") purchased the
warrant described herein from Tennenbaum & Co., LLC ("TCO"), which initially
filed this Form 3 on June 26, 1999. Tennenbaum & Co., LLC may be continue to be
deemed to share the powers of voting and disposition of the securities described
herein (see "Explanation of Response" below).
JOINT FILER INFORMATION:
By reason of (i) SVIM/MSM, LLC's ("SVIM/MSM") position as managing member of
SVBF, (ii) Special Value Investment Management, LLC's ("SVIM") position as
investment advisor to SVBF, (iii) TCO's position as managing member of SVIM/MSM
and SVIM and (iv) Michael Tennenbaum's position as managing member of TCO, each
of SVIM/MSM, SVIM, TCO and Mr. Tennenbaum may be deemed to share the powers of
voting and disposition of the securities described herein. See Joint Filer
Information below.
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FORM 3 CONTINUATION SHEET
JOINT FILER INFORMATION
NAME: SVIM/MSM, LLC
<S> <C>
ADDRESS: 11100 Santa Monica Boulevard, Suite 210
Los Angeles, California 90025
DESIGNATED FILER: Special Value Bond Fund, LLC
ISSUER & TICKER SYMBOL: Party City Corporation (Nasdaq National Market: PCTY)
DATE OF EVENT REQUIRING STATEMENT: September 1, 1999
SIGNATURE: SVIM/MSM, LLC
By: Tennenbaum & Co., LLC, its Managing Member
By: /s/ Michael E. Tennenbaum
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Michael E. Tennenbaum, its Managing Member
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FORM 3 CONTINUATION SHEET
JOINT FILER INFORMATION
NAME: Special Value Investment Management, LLC
<S> <C>
ADDRESS: 11100 Santa Monica Boulevard, Suite 210
Los Angeles, California 90025
DESIGNATED FILER: Special Value Bond Fund, LLC
ISSUER & TICKER SYMBOL: Party City Corporation (Nasdaq National Market: PCTY)
DATE OF EVENT REQUIRING STATEMENT: September 1, 1999
SIGNATURE: SPECIAL VALUE INVESTMENT MANAGEMENT, LLC
By: Tennenbaum & Co., LLC, its Managing Member
By: /s/ Michael E. Tennenbaum
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Michael E. Tennenbaum, its Managing Member
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FORM 3 CONTINUATION SHEET
JOINT FILER INFORMATION
NAME: Tennenbaum & Co., LLC
<S> <C>
ADDRESS: 11100 Santa Monica Boulevard, Suite 210
Los Angeles, California 90025
DESIGNATED FILER: Special Value Bond Fund, LLC
ISSUER & TICKER SYMBOL: Party City Corporation (Nasdaq National Market: PCTY)
DATE OF EVENT REQUIRING STATEMENT: September 1, 1999
SIGNATURE: TENNENBAUM & CO., LLC
By: /s/ Michael E. Tennenbaum
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Michael E. Tennenbaum, its Managing Member
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FORM 3 CONTINUATION SHEET
JOINT FILER INFORMATION
NAME: Michael E. Tennenbaum
<S> <C>
ADDRESS: 11100 Santa Monica Boulevard, Suite 210
Los Angeles, California 90025
DESIGNATED FILER: Special Value Bond Fund, LLC
ISSUER & TICKER SYMBOL: Party City Corporation (Nasdaq National Market: PCTY)
DATE OF EVENT REQUIRING STATEMENT: September 1, 1999
SIGNATURE: /s/ Michael E. Tennenbaum
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Michael E. Tennenbaum
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