UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
-----------------------------------
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. _)*
Big City Bagels, Inc.
(Name of Issuer)
Common Stock, $.001 par value
(Title Class of Securities)
089090 10 4
(CUSIP Number)
David Alan Miller, Esq.
Graubard Mollen & Miller
600 Third Avenue, New York, New York 10016-2097
(Name, Address and Telephone Number of Person Authorized to Receive
Notices and Communications)
May 13, 1996
(Date of Event which Requires Filing of this Schedule 13D)
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 |_|.
Check the following box if a fee is being paid with the statement |X|. (A fee is
not required only if the reporting person: (1) has a previous statement on file
reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7.).
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.
*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 1 of 12 pages
SEC 1746(12-91)
<PAGE>
SCHEDULE 13D
- -------------------------------------------------------------------------------
CUSIP No. 089090 10 4 Page 2 of 12 Pages
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Mark Weinreb
###-##-####
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)|X|
(b)|_|
- -------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO (See Item 3)
- -------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
- -------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- -------------------------------------------------------------------------------
7 SOLE VOTING POWER
0
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
---------------------------------------------------
8 SHARED VOTING POWER
859,538
---------------------------------------------------
9 SOLE DISPOSITIVE POWER
859,538
---------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
859,538 shares (See Item 5(a))
- -------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
- -------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
17.9%
- -------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
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. 089090 10 4 Page 3 of 12 Pages
- -------------------------------------------------------------------------------
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Jerry Rosner
###-##-####
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)|X|
(b)|_|
- -------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO (See Item 3)
- -------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
- -------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- ------------------------------------------------------------------------------
7 SOLE VOTING POWER
0
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
---------------------------------------------------
8 SHARED VOTING POWER
790,154
---------------------------------------------------
9 SOLE DISPOSITIVE POWER
790,154
---------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
790,154 shares (See Item 5(a))
- -------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
- -------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
16.5%
- ------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
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. 089090 10 4 Page 4 of 12 Pages
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Stanley Weinreb
###-##-####
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)|X|
(b)|_|
- -------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO (See Item 3)
- ------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
- -------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- -------------------------------------------------------------------------------
7 SOLE VOTING POWER
0
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
--------------------------------------------------
8 SHARED VOTING POWER
605,851
---------------------------------------------------
9 SOLE DISPOSITIVE POWER
605,851
---------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- ------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
605,851 shares (See Item 5(a))
- -----------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
- -------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
12.6%
- -------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
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. 089090 10 4 Page 5 of 12 Pages
- -------------------------------------------------------------------------------
- ------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Stanley S. Raphael
###-##-####
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)|X|
(b)|_|
- -------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO (See Item 3)
- -------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
- -------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- -------------------------------------------------------------------------------
7 SOLE VOTING POWER
0
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
--------------------------------------------------
8 SHARED VOTING POWER
599,913
---------------------------------------------------
9 SOLE DISPOSITIVE POWER
593,975
-------------------------------------------------
10 SHARED DISPOSITIVE POWER
5,938
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
599,913 shares (See Item 5(a))
- -------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
- -------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
12.5%
- -------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
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. 089090 10 4 Page 6 of 12 Pages
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Trade Consultants, Inc. Pension Plan
65-0048548
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a)|X|
(b)|_|
- ------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO (See Item 3)
- -------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e) |_|
- -------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Florida (See Item 2(f))
- -------------------------------------------------------------------------------
7 SOLE VOTING POWER
0
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
---------------------------------------------------
8 SHARED VOTING POWER
5,938
---------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
---------------------------------------------------
10 SHARED DISPOSITIVE POWER
5,938
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,938 shares (See Item 5(a))
- -------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
- -------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.1%
- -------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
EP
- -------------------------------------------------------------------------------
*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>
INTRODUCTION
This Schedule 13D is being filed as a joint filing by Messrs. Mark
Weinreb, Jerry Rosner, Stanley Weinreb, Stanley S. Raphael and Trade
Consultants, Inc. Pension Plan ("Trade Consultants"), of which Mr. Raphael is
the sole trustee (collectively, the "Management Group"). The members of the
Management Group are parties to a Founders' Shareholder Agreement, dated March
31, 1996, with respect to certain securities of Big City Bagels, Inc., the
issuer of the securities which this Schedule 13D pertains ("Issuer").
Item 1. Security and Issuer.
The class of equity securities to which this Schedule 13D relates is
the common stock, $.001 par value, of Big City Bagels, Inc. ("Issuer"), a New
York corporation, whose principal executive offices are located at 99 Woodbury
Road, Hicksville, New York 11801 ("Common Stock").
The percentage of beneficial ownership reflected in this Schedule 13D
is based upon 4,793,750 shares of Common Stock outstanding on May 13, 1996.
Item 2. Identity and Background.
(a) Name: This Schedule 13D is filed jointly by the members of the
Management Group: Messrs. Mark Weinreb, Jerry Rosner, Stanley Weinreb, Stanley
S. Raphael and Trade Consultants.
(b) Business Addresses:
Mark Weinreb
c/o Big City Bagels, Inc.
99 Woodbury Road
Hicksville, New York 11801
Jerry Rosner
c/o Big City Bagels, Inc.
151 Kalmus Drive, Suite C-100
Costa Mesa, California 92626
Stanley Weinreb
c/o Big City Bagels, Inc.
99 Woodbury Road
Hicksville, New York 11801
Stanley S. Raphael
c/o Big City Bagels, Inc.
99 Woodbury Road
Hicksville, New York 11801
Trade Consultants, Inc. Pension Plan
Stanley S. Raphael, Trustee
400 Towerside Terrace, #611
Miami, Florida 33138
Page 7 of 12 Pages
<PAGE>
(c) Principal Business: Mark Weinreb is the Chairman of the Board and
Chief Executive Officer of the Issuer. Jerry Rosner is the President, Chief
Operating Officer and a director of the Issuer. Stanley Weinreb is the Vice
President and a director of the Issuer. Stanley S. Raphael is the Secretary and
a director of the Issuer and the President of Trade Consultants, Inc., a
management consulting company organized under the laws of the State of Florida.
(d) During the last five years, no member of the Management Group has
been convicted in any criminal proceeding (excluding traffic violations or
similar misdemeanors).
(e) During the last five years, no member of the Management Group has
been a party to any civil proceeding of a judicial or administrative body of
competent jurisdiction resulting in any judgment, decree or final order against
any member of the Management Group enjoining any member of the Management Group
from engaging in 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) All of the individual members of the Management Group that are
natural persons are citizens of the United States. Trade Consultants is a
pension plan organized under the laws of the State of Florida.
Item 3. Source and Amount of Funds or other Consideration.
The members of the Management Group exchanged their limited partnership
interests in Pumpernickel Partners, L.P. ("Pumpernickel Partners") and/or their
capital stock of Bagel Partners, Inc., the sole general partner of Pumpernickel
Partners ("Bagel Partners"), to acquire the securities described below in Item
5(c).
Item 4. Purpose of Transactions.
Each member of the Management Group has acquired the securities
specified in Item 5(c) of this Schedule 13D in order to obtain individual equity
positions in the Issuer for investment purposes. None of the members of the
Management Group have a present intention to acquire or dispose of shares of
Common Stock of the Issuer, but this may change depending upon market
conditions. None of the members of the Management Group have any present plans
which relate to or would result in: an extraordinary corporate transaction, such
as a merger, reorganization or liquidation, involving the issuer or any of its
subsidiaries; a sale or transfer of a material amount of assets of the Issuer or
any of its subsidiaries; any change in the present board of directors or
management of the Issuer, including any plans or proposals to change the number
or term of directors or to fill any existing vacancies on the board; any
material change in the present capitalization or dividend policy of the Issuer;
any other material change in the Issuer's business or corporate structure;
changes 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; 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
inter-dealer quotation system of a registered national securities association;
causing a class of equity securities of the Issuer becoming eligible for
termination of registration pursuant to Section 12(g)(4) of the Securities
Exchange Act of 1934, as amended; or any action similar to the above.
Page 8 of 12 Pages
<PAGE>
Item 5. Interest in Securities of the Issuer.
(a) and (b) The following table sets forth the separate beneficial
ownership of each member of the Management Group. For purposes of presentation,
the number of shares listed for each member of the Management Group does not
include shares held by other members of the Management Group. Absent the
Founders' Shareholder Agreement, each of the members has sole voting and
dispositive power with respect to the shares indicated, except as disclosed in
Note (1).
Name Number of Shares Percent of Class
Mark Weinreb 859,538 17.9%
Jerry Rosner 790,154 16.5%
Stanley Weinreb 605,851 12.6%
Stanley S. Raphael 599,913(1) 12.5%
Trade Consultants 5,938 0.1%
(1) Includes 5,938 shares held by Trade Consultants, of which Mr. Raphael
is the sole trustee. Accordingly, absent the Founders' Shareholder
Agreement, Mr. Raphael has sole voting and dispositive power with
respect to such shares, although it is nominally shared with Trade
Consultants.
Since each member of the Management Group is a party to, and has agreed
to vote their shares in accordance with, the Founders' Shareholder Agreement
described in Item 5(c), each of the members of the Management Group shares
voting power with respect to the shares of Common Stock held by each of the
other members and may be deemed to beneficially own all of the shares held by
all members of the Management Group. The Management Group, collectively, owns
2,855,456 shares, or 59.6%, of the Issuer's outstanding Common Stock.
(c) On May 13, 1996, the limited partners of Pumpernickel Partners
contributed all of their limited partnership interests in Pumpernickel Partners
and the stockholders of Bagel Partners, the sole general partner of Pumpernickel
Partners, contributed all of the capital stock of Bagel Partners to the Issuer
in exchange for an aggregate of 181,250 shares of Common Stock. As a result of
their interests in Bagel Partners as stockholders and/or Pumpernickel Partners
as limited partners, Messrs. Mark Weinreb, Jerry Rosner, Stanley Weinreb,
Stanley S. Raphael and Trade Consultants received 13,913, 905, 13,913, 2,037 and
5,938 shares of Common Stock, respectively. All other shares of Common Stock
owned by each member of the Management Group were issued immediately prior to
the closing of the Issuer's initial public offering on May 13, 1996.
Immediately following the closing of the Issuer's initial
public offering, each of Messrs. Mark Weinreb, Jerry Rosner, Stanley Weinreb and
Stanley S. Raphael received a stock dividend from the Issuer, declared on March
5, 1996 and payable on May 13, 1996, at the rate of 28,186.5 shares of Common
Stock for each share of Common Stock held on April 1, 1996 as follows: 845,595,
789,221, 591,917 and 591,917 shares, respectively.
Page 9 of 12 Pages
<PAGE>
Item 6. Contracts, Agreements, Understandings or
Relationships with Respect to Securities of Issuer.
Each member of the Management Group is a party to the Founders'
Shareholder Agreement, dated March 31, 1996, and the shares of Common Stock
beneficially owned by them are subject to the terms of the Founders' Shareholder
Agreement. Pursuant to the Founders' Shareholder Agreement, each of these
members has agreed to vote his shares for the election of each of the other
members of the Management Group as a director of the Issuer as long as each such
other member owns at least 100,000 shares of Common Stock. In addition, the
members have granted a right of first refusal to the others with respect to any
sales of Common Stock held by them other than pursuant to a Registration
Statement under the Securities Act of 1933, as amended, or pursuant to Rule 144
promulgated thereunder.
Pursuant to Section 3(l) of an Underwriting Agreement dated as of May
7, 1996 between the Issuer and Monroe Parker Securities, Inc., the underwriter
of the Issuer's initial public offering ("Underwriter"), each of the members of
the Management Group agreed not to dispose of their securities until May 6,
1998, without the prior written consent of the Underwriter.
Item 7. Materials to be Filed as Exhibits.
Exhibit 1: Founders' Shareholder Agreement, dated March 31,
1996, incorporated by reference to Exhibit 10.8 of
Amendment No. 3 to the Issuer's Registration
Statement on Form SB-2 (No. 333-2154), filed May 3,
1996.
Exhibit 2: Underwriting Agreement, dated as of May 7, 1996,
between Monroe Parker Securities, Inc. and Big City
Bagels, Inc., incorporated by reference to Exhibit
1.1 of the Issuer's Registration Statement on Form
SB-2 (No. 333-2154), filed March 8, 1996.
Exhibit 2: Joint Filing Agreement, dated May 23, 1996, by and
among each member of the Management Group.
Page 10 of 12 Pages
<PAGE>
SIGNATURES
After reasonable inquiry and to the best of the knowledge and
belief of the undersigned, the undersigned certify that the information set
forth in this statement is true, complete and correct.
Dated: May 23, 1996
/s/ Mark Weinreb
Mark Weinreb
/s/ Jerry Rosner
Jerry Rosner
/s/ Stanley Weinreb
Stanley Weinreb
/s/ Stanley S. Raphael
Stanley S. Raphael
TRADE CONSULTANTS, INC.
PENSION FUND
By: /s/ Stanley S. Raphael
Stanley S. Raphael, Trustee
Page 11 of 12 Pages
<PAGE>
EXHIBIT 2
AGREEMENT
This will confirm the agreement by and among the undersigned that the
Schedule 13D, dated May 23, 1996, with respect to the undersigned's ownership of
Common Stock of Big City Bagels, Inc. is filed on behalf of each of the
undersigned.
/s/ Mark Weinreb
Mark Weinreb
/s/ Jerry Rosner
Jerry Rosner
/s/ Stanley Weinreb
Stanley Weinreb
/s/ Stanley S. Raphael
Stanley S. Raphael
TRADE CONSULTANTS, INC.
PENSION PLAN
By: /s/ Stanley S. Raphael
Stanley S. Raphael, Trustee
Page 12 of 12 Pages
<PAGE>
