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FORM 3 OMB APPROVAL
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OMB Number: 3235-0104
Expires: September 30, 1998
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
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1. Name and Address of Reporting Person*
Hilal Capital Partners LLC
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(Last) (First) (Middle)
c/o Hilal Capital Management LLC
60 East 42nd Street, Suite 1946
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(Street)
New York New York 10165
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(City) (State) (Zip)
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2. Date of Event Requiring Statement (Month/Day/Year)
07/19/99
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3. IRS or Social Security Number of Reporting Person (Voluntary)
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4. Issuer Name and Ticker or Trading Symbol
Worldtalk Communications Corporation (WTLK)
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<PAGE>
FORM 3 (continued)
5. Relationship of Reporting Person to Issuer (Check all applicable)
[ ] Director
[ ] 10% Owner
[ ] Officer (give title below)
[X] Other (Specify below)
May be deemed a member of a group owning more than 10% of Issuer's Common
Stock
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6. If Amendment, Date of Original (Month/Day/Year)
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7. Individual or Joint/Group Filing (Check applicable line)
[x] Form filed by One Reporting Person
[ ] Form filed by More than One Reporting Person
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<TABLE>
<CAPTION>
TABLE I--NON-DERIVATIVE SECURITIES BENEFICIALLY OWNED
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1. Title of Security 2. Amount of 3. Ownership 4. Nature of Indirect
(Instr. 4) Securities Form: Beneficial
Beneficially Direct (D) Ownership
Owned or Indirect (Instr. 5)
(Instr. 4) (I) (Instr. 5)
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<S> <C> <C> <C>
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Common Stock 459,667 I (1)
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Common Stock 180,333 I (1)
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Common Stock 1,194,667 I (1)
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</TABLE>
* If the Form is filed by more than one Reporting Person,
SEE instruction 5(b)(v).
Reminder: Report on a separate line for each class of
securities beneficially owned directly or indirectly.
(Print or Type Responses)
(Over)
SEC 1473 (7-96)
<PAGE>
FORM 3 (continued)
<TABLE>
<CAPTION>
TABLE II - DERIVATIVE SECURITIES BENEFICIALLY OWNED
(E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
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1. Title of Derivative Security 2. Date Exercisable and 3. Title and Amount
(Instr. 4) Expiration Date of Securities
(Month/Day/Year) Underlying
----------------------- Derivative
Date Expiration Security
Exercisable Date (Instr. 4)
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Title Amount or
Number of
Shares
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<S> <C> <C> <C> <C>
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Warrants Anytime 07/07/2006 Common 223,833
Stock
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Warrants Anytime 07/07/2006 Common 87,667
Stock
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Warrants Anytime 07/07/2006 Common 597,333
Stock
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4. Conversion or 5. Ownership Form of 6. Nature of Indirect
Exercise Price Derivative Security: Beneficial Ownership
of Derivative Direct (D) or (Instr. 5)
Security Indirect (I) (Instr. 5)
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<C> <C> <C>
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$7.00 I (2)
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$7.00 I (2)
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$7.00 I (2)
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</TABLE>
<PAGE>
Explanation of Responses:
(1) The Shares to which this note relates are held by Hilal Capital QP, LP
("HCQP") (459,667 shares), Hilal Capital, LP ("HCLP") (180,333 shares) or Hilal
Capital Associates LLC ("HCA") (1,194,667 shares). The undersigned is the sole
general partner of HCQP and HCLP and is the managing member of HCA. In
accordance with Instruction 5(b)(iv), the entire number of Shares held by (or
deemed held by or through) HCQP, HCLP and HCA is reported herein. The
undersigned disclaims any beneficial ownership of any of the Issuer's
securities to which this Form relates for purposes of Section 16 of the
Securities Exchange Act of 1934, as amended, except as to securities
representing the undersigned's pro-rata partnership (or membership) interest
in, and interest in the profits of, HCQP, HCLP and HCA.
(2) The warrants to which this note relates are held by HCQP (223,833
warrants), HCLP (87,667 warrants) or HCA (597,333 warrants). The undersigned
is the sole general partner of HCQP and HCLP and is the managing member of HCA.
In accordance with Instruction 5(b)(iv), the entire amount of the Issuer's
warrants held by (or deemed held by or through) HCQP, HCLP and HCA is reported
herein. The undersigned disclaims any beneficial ownership of any of the
Issuer's warrants to which this Form relates for purposes of Section 16 of the
Securities Exchange Act of 1934, as amended, except as to warrants representing
the undersigned's pro rata partnership (or membership) interest in, and
interest in the profits of, HCQP, HCLP and HCA.
Hilal Capital Partners LLC
/s/ Peter K. Hilal
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Peter K. Hilal, M.D.,
its Managing Member
Date: July 29, 1999
**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.
If space is insufficient, SEE Instruction 6 for procedure.
