SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
--------------
SCHEDULE 13D
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED
PURSUANT TO RULE 13d-1(a) AND AMENDMENTS
THERETO FILED PURSUANT TO RULE 13(d)-2(a)
(Amendment No. _)(1)
USWEB CORPORATION
- --------------------------------------------------------------------------------
(Name of issuer)
COMMON STOCK $.001 PAR VALUE
- --------------------------------------------------------------------------------
(Title of class of securities)
917327 10 8
- --------------------------------------------------------------------------------
(CUSIP number)
STEVEN WOLOSKY, ESQ.
OLSHAN GRUNDMAN FROME & ROSENZWEIG LLP
505 Park Avenue
New York, New York 10022
(212) 753-7200
- --------------------------------------------------------------------------------
(Name, address and telephone number of person
authorized to receive notices and communications)
June 16, 1998
- --------------------------------------------------------------------------------
(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(e), 13d-1(f) or 13d-1(g), check the
following box / /.
Note. Schedules filed in paper format shall include a signed original
and five copies of the schedule, including all exhibits. See Rule 13d-7(b) for
other parties to whom copies are to be sent.
(Continued on following pages)
(Page 1 of 52 Pages)
- ---------------
(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. 917327 10 8 13D Page 2 of 52 Pages
- ----------------------------- -------------------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Wheatley Partners, L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC, OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OR ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 1,422,462(1) shares
OWNED BY
EACH
REPORTING
PERSON WITH
----------------------------------------------------------------
8 SHARED VOTING POWER
129,814(2) shares
----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
1,422,462(1) shares
----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
129,814(2) shares
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
1,552,276(1)(2) shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.0%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
(1) Includes 110,710 shares of Common Stock issuable upon exercise of
currently exercisable warrants.
(2) Consists of (i) 119,752 shares of Common Stock and (ii) 10,062 shares
of Common Stock issuable upon exercise of currently exercisable
warrants held by Wheatley Foreign. Wheatley disclaims beneficial
ownership of these securities.
<PAGE>
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CUSIP No. 917327 10 8 13D Page 3 of 52 Pages
- ----------------------------- -------------------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Barry Rubenstein
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF, 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
United States
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 25,978 shares
OWNED BY
EACH
REPORTING
PERSON WITH
----------------------------------------------------------------
8 SHARED VOTING POWER
2,689,330(1) shares
----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
25,978 shares
----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
2,689,330(1) shares
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
2,715,308(1) shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.0%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
(1) Consists of (a)(i) 1,311,752 shares of Common Stock and (ii) 110,710
shares of Common Stock issuable upon exercise of currently exercisable
warrants held by Wheatley, (b)(i) 119,752 shares of Common Stock and
(ii) 10,062 shares of Common Stock issuable upon exercise of currently
exercisable warrants held by Wheatley Foreign, (c)(i) 545,894 shares of
Common Stock and (ii) 136,473 shares of Common Stock issuable upon
exercise of currently exercisable warrants held by 21st Century, (d)(i)
185,669 shares of Common Stock and (ii) 46,417 shares of Common Stock
issuable upon exercise of currently exercisable
<PAGE>
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CUSIP No. 917327 10 8 13D Page 4 of 52 Pages
- ----------------------------- -------------------------------
warrants held by 21st Century T-E, (e)(i) 73,591 shares of Common Stock
and (ii) 18,398 shares of Common Stock issuable upon exercise of
currently exercisable warrants held by 21st Century Foreign and (f)
130,612 shares of Common Stock held by Woodland Partners. Mr.
Rubenstein disclaims beneficial ownership of these securities except to
the extent of his respective equity interest therein.
<PAGE>
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CUSIP No. 917327 10 8 13D Page 5 of 52 Pages
- ----------------------------- -------------------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Irwin Lieber
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF, OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OR ORGANIZATION
UNITED STATES
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 25,978 shares
OWNED BY
EACH
REPORTING
PERSON WITH
----------------------------------------------------------------
8 SHARED VOTING POWER
2,558,718(1) shares
----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
25,978 shares
----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
2,558,718(1) shares
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
2,584,696(1) shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.7%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
(1) Consists of (a)(i) 1,311,752 shares of Common Stock and (ii) 110,710
shares of Common Stock issuable upon exercise of currently exercisable
warrants held by Wheatley, (b)(i) 119,752 shares of Common Stock and
(ii) 10,062 shares of Common Stock issuable upon exercise of currently
exercisable warrants held by Wheatley Foreign, (c)(i) 545,894 shares of
Common Stock and (ii) 136,473 shares of Common Stock issuable upon
exercise of currently exercisable warrants held by 21st Century, (d)(i)
185,669 shares of Common Stock and (ii) 46,417 shares of Common Stock
issuable upon exercise of currently exercisable
<PAGE>
- ----------------------------- -------------------------------
CUSIP No. 917327 10 8 13D Page 6 of 52 Pages
- ----------------------------- -------------------------------
warrants held by 21st Century T-E and (e)(i) 73,591 shares of Common
Stock and (ii) 18,398 shares of Common Stock issuable upon exercise of
currently exercisable warrants held by 21st Century Foreign. Mr. Lieber
disclaims beneficial ownership of these securities except to the extent
of his respective equity interest therein.
<PAGE>
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CUSIP No. 917327 10 8 13D Page 7 of 52 Pages
- ----------------------------- -------------------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Barry Fingerhut
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OR ORGANIZATION
United States
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 0 shares
OWNED BY
EACH
REPORTING
PERSON WITH
----------------------------------------------------------------
8 SHARED VOTING POWER
2,558,718(1) shares
----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0 shares
----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
2,558,718(1) shares
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
2,558,718(1) shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.6%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
(1) Consists of (a)(i) 1,311,752 shares of Common Stock and (ii) 110,710
shares of Common Stock issuable upon exercise of currently exercisable
warrants held by Wheatley, (b)(i) 119,752 shares of Common Stock and
(ii) 10,062 shares of Common Stock issuable upon exercise of currently
exercisable warrants held by Wheatley Foreign, (c)(i) 545,894 shares of
Common Stock and (ii) 136,473 shares of Common Stock issuable upon
exercise of currently exercisable warrants held by 21st Century, (d)(i)
185,669 shares of Common Stock and (ii) 46,417 shares of Common Stock
issuable upon exercise of currently exercisable
<PAGE>
- ----------------------------- -------------------------------
CUSIP No. 917327 10 8 13D Page 8 of 52 Pages
- ----------------------------- -------------------------------
warrants held by 21st Century T-E and (e)(i) 73,591 shares of Common
Stock and (ii) 18,398 shares of Common Stock issuable upon exercise of
currently exercisable warrants held by 21st Century Foreign. Mr.
Fingerhut disclaims beneficial ownership of these securities except to
the extent of his respective equity interest therein.
<PAGE>
- ----------------------------- -------------------------------
CUSIP No. 917327 10 8 13D Page 9 of 52 Pages
- ----------------------------- -------------------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Wheatley Partners, LLC
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC, OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OR ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 0 shares
OWNED BY
EACH
REPORTING
PERSON WITH
----------------------------------------------------------------
8 SHARED VOTING POWER
1,552,276(1) shares
----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0 shares
----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,552,276(1) shares
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
1,552,276(1) shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.0%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
(1) Consists of (a)(i) 1,311,752 shares of Common Stock and (ii) 110,710
shares of Common Stock issuable upon exercise of currently exercisable
warrants held by Wheatley and (b)(i) 119,752 shares of Common Stock and
(ii) 10,062 shares of Common Stock issuable upon exercise of currently
exercisable warrants held by Wheatley Foreign. Wheatley LLC disclaims
beneficial ownership of these securities except to the extent of its
respective equity interest therein.
<PAGE>
- ----------------------------- -------------------------------
CUSIP No. 917327 10 8 13D Page 10 of 52 Pages
- ----------------------------- -------------------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Seth Lieber
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF, OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OR ORGANIZATION
United States
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 8,659 shares
OWNED BY
EACH
REPORTING
PERSON WITH
----------------------------------------------------------------
8 SHARED VOTING POWER
1,552,276(1) shares
----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
8,659 shares
----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,552,276(1) shares
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
1,560,935(1) shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.0%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
(1) Consists of (a)(i) 1,311,752 shares of Common Stock and (ii) 110,710
shares of Common Stock issuable upon exercise of currently exercisable
warrants held by Wheatley and (b)(i) 119,752 shares of Common Stock and
(ii) 10,062 shares of Common Stock issuable upon exercise of currently
exercisable warrants held by Wheatley Foreign. Mr. Lieber disclaims
beneficial ownership of these securities except to the extent of his
respective equity interest therein.
<PAGE>
- ----------------------------- -------------------------------
CUSIP No. 917327 10 8 13D Page 11 of 52 Pages
- ----------------------------- -------------------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Jonathan Lieber
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF, OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OR ORGANIZATION
United States
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 8,659 shares
OWNED BY
EACH
REPORTING
PERSON WITH
----------------------------------------------------------------
8 SHARED VOTING POWER
1,552,276(1) shares
----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
8,659 shares
----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,552,276(1) shares
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
1,560,935(1) shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.0%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
(1) Consists of (a)(i) 1,311,752 shares of Common Stock and (ii) 110,710
shares of Common Stock issuable upon exercise of currently exercisable
warrants held by Wheatley and (b)(i) 119,752 shares of Common Stock and
(ii) 10,062 shares of Common Stock issuable upon exercise of currently
exercisable warrants held by Wheatley Foreign. Mr. Lieber disclaims
beneficial ownership of these securities except to the extent of his
respective equity interest therein.
<PAGE>
- ----------------------------- -------------------------------
CUSIP No. 917327 10 8 13D Page 12 of 52 Pages
- ----------------------------- -------------------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Wheatley Management Ltd.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC, OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OR ORGANIZATION
Cayman Islands, B.W.I.
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 0 shares
OWNED BY
EACH
REPORTING
PERSON WITH
----------------------------------------------------------------
8 SHARED VOTING POWER
129,814(1) shares
----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0 shares
----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
129,814(1) shares
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
129,814(1) shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.3%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
(1) Consists of (i) 119,752 shares of Common Stock and (ii) 10,062 shares
of Common Stock issuable upon exercise of currently exercisable
warrants held by Wheatley Foreign. Wheatley Management disclaims
beneficial ownership of these securities except to the extent of its
respective equity interest therein.
<PAGE>
- ----------------------------- -------------------------------
CUSIP No. 917327 10 8 13D Page 13 of 52 Pages
- ----------------------------- -------------------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Wheatley Foreign Partners, L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC, OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OR ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 129,814(1) shares
OWNED BY
EACH
REPORTING
PERSON WITH
----------------------------------------------------------------
8 SHARED VOTING POWER
1,422,462(2) shares
----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
129,814(1) shares
----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,422,462(2) shares
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
1,552,276(1)(2) shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.0%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
(1) Includes 10,062 shares of Common Stock issuable upon the exercise of
currently exercisable warrants.
(2) Consists of (i) 1,311,752 shares of Common Stock and (ii) 110,710
shares of Common Stock issuable upon exercise of currently exercisable
warrants held by Wheatley. Wheatley Foreign disclaims beneficial
ownership of these securities except to the extent of its respective
equity interest therein.
<PAGE>
- ----------------------------- -------------------------------
CUSIP No. 917327 10 8 13D Page 14 of 52 Pages
- ----------------------------- -------------------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Woodland Partners
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC, OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OR ORGANIZATION
New York
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 130,612 shares
OWNED BY
EACH
REPORTING
PERSON WITH
----------------------------------------------------------------
8 SHARED VOTING POWER
0 shares
----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
130,612 shares
----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0 shares
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
130,612 shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.3%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
- ----------------------------- -------------------------------
CUSIP No. 917327 10 8 13D Page 15 of 52 Pages
- ----------------------------- -------------------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Marilyn Rubenstein
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OR ORGANIZATION
United States
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 0 shares
OWNED BY
EACH
REPORTING
PERSON WITH
----------------------------------------------------------------
8 SHARED VOTING POWER
130,612(1) shares
----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0 shares
----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
130,612(1) shares
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
130,612(1) shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.3%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
(1) Consists of 130,612 shares of Common Stock held by Woodland Partners.
Mrs. Rubenstein disclaims beneficial ownership of these securities
except to the extent of her equity interest therein.
<PAGE>
- ----------------------------- -------------------------------
CUSIP No. 917327 10 8 13D Page 16 of 52 Pages
- ----------------------------- -------------------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
21st Century Communications Partners, L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC, OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OR ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 682,367(1) shares
OWNED BY
EACH
REPORTING
PERSON WITH
----------------------------------------------------------------
8 SHARED VOTING POWER
324,075(2) shares
----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
682,367(1) shares
----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
324,075(2) shares
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
1,006,442(1)(2) shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.6%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
(1) Includes 136,473 shares of Common Stock issuable upon exercise of
currently exercisable warrants.
(2) Consists of (a)(i) 185,669 shares of Common Stock and (ii) 46,417
shares of Common Stock issuable upon exercise of currently exercisable
warrants held by 21st Century T-E and (b)(i) 73,591 shares of Common
Stock and (ii) 18,398 shares of Common Stock issuable upon exercise of
currently exercisable warrants held by 21st Century Foreign. 21st
Century disclaims beneficial ownership of these securities.
<PAGE>
- ----------------------------- -------------------------------
CUSIP No. 917327 10 8 13D Page 17 of 52 Pages
- ----------------------------- -------------------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
21st Century Communications T-E Partners, L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC, OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OR ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 232,086(1) shares
OWNED BY
EACH
REPORTING
PERSON WITH
----------------------------------------------------------------
8 SHARED VOTING POWER
774,356(2) shares
----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
232,086(1) shares
----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
774,356(2) shares
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
1,006,442(1)(2) shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.6%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
(1) Includes 46,417 shares of Common Stock issuable upon exercise of
currently exercisable warrants.
(2) Consists of (a)(i) 545,894 shares of Common Stock and (ii) 136,473
shares of Common Stock issuable upon exercise of currently exercisable
warrants held by 21st Century Partners and (b)(i) 73,591 shares of
Common Stock and (ii) 18,398 shares of Common Stock issuable upon
exercise of currently exercisable warrants held by 21st Century
Foreign. 21st Century T-E disclaims beneficial ownership of these
securities.
<PAGE>
- ----------------------------- -------------------------------
CUSIP No. 917327 10 8 13D Page 18 of 52 Pages
- ----------------------------- -------------------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
21st Century Communications Foreign Partners, L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC, OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OR ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 91,989(1) shares
OWNED BY
EACH
REPORTING
PERSON WITH
----------------------------------------------------------------
8 SHARED VOTING POWER
914,453(2) shares
----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
91,989(1) shares
----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
914,453(2) shares
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
1,006,442(1)(2) shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.6%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
(1) Includes 18,398 shares of Common stock issuable upon exercise of
currently exercisable warrants.
(2) Consists of (a)(i) 545,894 shares of Common Stock and (ii) 136,473
shares of Common Stock issuable upon exercise of currently exercisable
warrants held by 21st Century Partners and (b)(i) 185,669 shares of
Common Stock and (ii) 46,417 shares of Common Stock issuable upon
exercise of currently exercisable warrants held by 21st Century T-E.
21st Century Foreign disclaims beneficial ownership of these
securities.
<PAGE>
- ----------------------------- -------------------------------
CUSIP No. 917327 10 8 13D Page 19 of 52 Pages
- ----------------------------- -------------------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Sandler Investment Partners, L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC, OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OR ORGANIZATION
New York
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 0 shares
OWNED BY
EACH
REPORTING
PERSON WITH
----------------------------------------------------------------
8 SHARED VOTING POWER
1,006,442(1) shares
----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0 shares
----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,006,442(1) shares
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
1,006,442(1) shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.6%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
(1) Consists of (a)(i) 545,894 shares of Common Stock and (ii) 136,473
shares of Common Stock issuable upon exercise of currently exercisable
warrants held by 21st Century Partners, (b)(i) 185,669 shares of Common
Stock and (ii) 46,417 shares of Common Stock issuable upon exercise of
currently exercisable warrants held by 21st Century T-E and (c)(i)
73,591 shares of Common Stock and (ii) 18,398 shares of Common Stock
issuable upon exercise of currently exercisable warrants held by 21st
Century Foreign. Sandler Investment disclaims beneficial ownership of
these securities except to the extent of its respective equity interest
therein.
<PAGE>
- ----------------------------- -------------------------------
CUSIP No. 917327 10 8 13D Page 20 of 52 Pages
- ----------------------------- -------------------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Sandler Capital Management
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC, OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OR ORGANIZATION
New York
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 0 shares
OWNED BY
EACH
REPORTING
PERSON WITH
----------------------------------------------------------------
8 SHARED VOTING POWER
1,006,442(1) shares
----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0 shares
----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,006,442(1) shares
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
1,006,442(1) shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.6%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
(1) Consists of (a)(i) 545,894 shares of Common Stock and (ii) 136,473
shares of Common Stock issuable upon exercise of currently exercisable
warrants held by 21st Century Partners, (b)(i) 185,669 shares of Common
Stock and (ii) 46,417 shares of Common Stock issuable upon exercise of
currently exercisable warrants held by 21st Century T-E and (c)(i)
73,591 shares of Common Stock and (ii) 18,398 shares of Common Stock
issuable upon exercise of currently exercisable warrants held by 21st
Century Foreign. Sandler Capital disclaims beneficial ownership of
these securities except to the extent of its respective equity interest
therein.
<PAGE>
- ----------------------------- -------------------------------
CUSIP No. 917327 10 8 13D Page 21 of 52 Pages
- ----------------------------- -------------------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
ARH Corp.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC, OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OR ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 0 shares
OWNED BY
EACH
REPORTING
PERSON WITH
----------------------------------------------------------------
8 SHARED VOTING POWER
1,006,442(1) shares
----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0 shares
----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,006,442(1) shares
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
1,006,442(1) shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.6%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
(1) Consists of (a)(i) 545,894 shares of Common Stock and (ii) 136,473
shares of Common Stock issuable upon exercise of currently exercisable
warrants held by 21st Century Partners, (b)(i) 185,669 shares of Common
Stock and (ii) 46,417 shares of Common Stock issuable upon exercise of
currently exercisable warrants held by 21st Century T-E and (c)(i)
73,591 shares of Common Stock and (ii) 18,398 shares of Common Stock
issuable upon exercise of currently exercisable warrants held by 21st
Century Foreign. ARH Corp. disclaims beneficial ownership of these
securities except to the extent of its respective equity interest
therein.
<PAGE>
- ----------------------------- -------------------------------
CUSIP No. 917327 10 8 13D Page 22 of 52 Pages
- ----------------------------- -------------------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
ALSI, LLC
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC, OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OR ORGANIZATION
New York
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 0 shares
OWNED BY
EACH
REPORTING
PERSON WITH
----------------------------------------------------------------
8 SHARED VOTING POWER
1,006,442(1) shares
----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0 shares
----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,006,442(1) shares
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
1,006,442(1) shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.6%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
(1) Consists of (a)(i) 545,894 shares of Common Stock and (ii) 136,473
shares of Common Stock issuable upon exercise of currently exercisable
warrants held by 21st Century Partners, (b)(i) 185,669 shares of Common
Stock and (ii) 46,417 shares of Common Stock issuable upon exercise of
currently exercisable warrants held by 21st Century T-E and (c)(i)
73,591 shares of Common Stock and (ii) 18,398 shares of Common Stock
issuable upon exercise of currently exercisable warrants held by 21st
Century Foreign. ALSI, LLC disclaims beneficial ownership of these
securities except to the extent of its respective equity interest
therein.
<PAGE>
- ----------------------------- -------------------------------
CUSIP No. 917327 10 8 13D Page 23 of 52 Pages
- ----------------------------- -------------------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
MJDM Corp.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC, OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OR ORGANIZATION
New York
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 0 shares
OWNED BY
EACH
REPORTING
PERSON WITH
----------------------------------------------------------------
8 SHARED VOTING POWER
1,006,442(1) shares
----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0 shares
----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,006,442(1) shares
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
1,006,442(1) shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.6%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
(1) Consists of (a)(i) 545,894 shares of Common Stock and (ii) 136,473
shares of Common Stock issuable upon exercise of currently exercisable
warrants held by 21st Century Partners, (b)(i) 185,669 shares of Common
Stock and (ii) 46,417 shares of Common Stock issuable upon exercise of
currently exercisable warrants held by 21st Century T-E and (c)(i)
73,591 shares of Common Stock and (ii) 18,398 shares of Common Stock
issuable upon exercise of currently exercisable warrants held by 21st
Century Foreign. MJDM Corp. disclaims beneficial ownership of these
securities except to the extent of its respective equity interest
therein.
<PAGE>
- ----------------------------- -------------------------------
CUSIP No. 917327 10 8 13D Page 24 of 52 Pages
- ----------------------------- -------------------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Four JK Corp.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC, OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OR ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 0 shares
OWNED BY
EACH
REPORTING
PERSON WITH
----------------------------------------------------------------
8 SHARED VOTING POWER
1,006,442(1) shares
----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0 shares
----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,006,442(1) shares
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
1,006,442(1) shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.6%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
(1) Consists of (a)(i) 545,894 shares of Common Stock and (ii) 136,473
shares of Common Stock issuable upon exercise of currently exercisable
warrants held by 21st Century Partners, (b)(i) 185,669 shares of Common
Stock and (ii) 46,417 shares of Common Stock issuable upon exercise of
currently exercisable warrants held by 21st Century T-E and (c)(i)
73,591 shares of Common Stock and (ii) 18,398 shares of Common Stock
issuable upon exercise of currently exercisable warrants held by 21st
Century Foreign. Four JK Corp. disclaims beneficial ownership of these
securities except to the extent of its respective equity interest
therein.
<PAGE>
- ----------------------------- -------------------------------
CUSIP No. 917327 10 8 13D Page 25 of 52 Pages
- ----------------------------- -------------------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
InfoMedia Associates, Ltd.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC, OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OR ORGANIZATION
New York
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 0 shares
OWNED BY
EACH
REPORTING
PERSON WITH
----------------------------------------------------------------
8 SHARED VOTING POWER
1,006,442(1) shares
----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0 shares
----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,006,442(1) shares
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
1,006,442(1) shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.6%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
(1) Consists of (a)(i) 545,894 shares of Common Stock and (ii) 136,473
shares of Common Stock issuable upon exercise of currently exercisable
warrants held by 21st Century Partners, (b)(i) 185,669 shares of Common
Stock and (ii) 46,417 shares of Common Stock issuable upon exercise of
currently exercisable warrants held by 21st Century T-E and (c)(i)
73,591 shares of Common Stock and (ii) 18,398 shares of Common Stock
issuable upon exercise of currently exercisable warrants held by 21st
Century Foreign. InfoMedia Associates disclaims beneficial ownership of
these securities except to the extent of its respective equity interest
therein.
<PAGE>
- ----------------------------- -------------------------------
CUSIP No. 917327 10 8 13D Page 26 of 52 Pages
- ----------------------------- -------------------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Harvey Sandler
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OR ORGANIZATION
United States
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 0 shares
OWNED BY
EACH
REPORTING
PERSON WITH
----------------------------------------------------------------
8 SHARED VOTING POWER
1,006,442(1) shares
----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0 shares
----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,006,442(1) shares
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
1,006,442(1) shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.6%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
(1) Consists of (a)(i) 545,894 shares of Common Stock and (ii) 136,473
shares of Common Stock issuable upon exercise of currently exercisable
warrants held by 21st Century Partners, (b)(i) 185,669 shares of Common
Stock and (ii) 46,417 shares of Common Stock issuable upon exercise of
currently exercisable warrants held by 21st Century T-E and (c)(i)
73,591 shares of Common Stock and (ii) 18,398 shares of Common Stock
issuable upon exercise of currently exercisable warrants held by 21st
Century Foreign. Mr. Sandler disclaims
<PAGE>
- ----------------------------- -------------------------------
CUSIP No. 917327 10 8 13D Page 27 of 52 Pages
- ----------------------------- -------------------------------
beneficial ownership of these securities except to the extent of his
respective equity interest therein.
<PAGE>
- ----------------------------- -------------------------------
CUSIP No. 917327 10 8 13D Page 28 of 52 Pages
- ----------------------------- -------------------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Andrew Sandler
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OR ORGANIZATION
United States
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 0 shares
OWNED BY
EACH
REPORTING
PERSON WITH
----------------------------------------------------------------
8 SHARED VOTING POWER
1,006,442(1) shares
----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0 shares
----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,006,442(1) shares
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
1,006,442(1) shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.6%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
(1) Consists of (a)(i) 545,894 shares of Common Stock and (ii) 136,473
shares of Common Stock issuable upon exercise of currently exercisable
warrants held by 21st Century Partners, (b)(i) 185,669 shares of Common
Stock and (ii) 46,417 shares of Common Stock issuable upon exercise of
currently exercisable warrants held by 21st Century T-E and (c)(i)
73,591 shares of Common Stock and (ii) 18,398 shares of Common Stock
issuable upon exercise of currently exercisable warrants held by 21st
Century Foreign. Mr. Sandler disclaims
<PAGE>
- ----------------------------- -------------------------------
CUSIP No. 917327 10 8 13D Page 29 of 52 Pages
- ----------------------------- -------------------------------
beneficial ownership of these securities except to the extent of his
respective equity interest therein.
<PAGE>
- ----------------------------- -------------------------------
CUSIP No. 917327 10 8 13D Page 30 of 52 Pages
- ----------------------------- -------------------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Michael Marocco
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OR ORGANIZATION
United States
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 0 shares
OWNED BY
EACH
REPORTING
PERSON WITH
----------------------------------------------------------------
8 SHARED VOTING POWER
1,006,442(1) shares
----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0 shares
----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,006,442(1) shares
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
1,006,442(1) shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.6%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
(1) Consists of (a)(i) 545,894 shares of Common Stock and (ii) 136,473
shares of Common Stock issuable upon exercise of currently exercisable
warrants held by 21st Century Partners, (b)(i) 185,669 shares of Common
Stock and (ii) 46,417 shares of Common Stock issuable upon exercise of
currently exercisable warrants held by 21st Century T-E and (c)(i)
73,591 shares of Common Stock and (ii) 18,398 shares of Common Stock
issuable upon exercise of currently exercisable warrants held by 21st
Century Foreign. Mr. Marocco disclaims
<PAGE>
- ----------------------------- -------------------------------
CUSIP No. 917327 10 8 13D Page 31 of 52 Pages
- ----------------------------- -------------------------------
beneficial ownership of these securities except to the extent of his
respective equity interest therein.
<PAGE>
- ----------------------------- -------------------------------
CUSIP No. 917327 10 8 13D Page 32 of 52 Pages
- ----------------------------- -------------------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
John Kornreich
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OR ORGANIZATION
United States
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 0 shares
OWNED BY
EACH
REPORTING
PERSON WITH
----------------------------------------------------------------
8 SHARED VOTING POWER
1,006,442(1) shares
----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0 shares
----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,006,442(1) shares
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
1,006,442(1) shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.6%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
(1) Consists of (a)(i) 545,894 shares of Common Stock and (ii) 136,473
shares of Common Stock issuable upon exercise of currently exercisable
warrants held by 21st Century Partners, (b)(i) 185,669 shares of Common
Stock and (ii) 46,417 shares of Common Stock issuable upon exercise of
currently exercisable warrants held by 21st Century T-E and (c)(i)
73,591 shares of Common Stock and (ii) 18,398 shares of Common Stock
issuable upon exercise of currently exercisable warrants held by 21st
Century Foreign. Mr. Kornreich disclaims
<PAGE>
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CUSIP No. 917327 10 8 13D Page 33 of 52 Pages
- ----------------------------- -------------------------------
beneficial ownership of these securities except to the extent of his
respective equity interest therein.
<PAGE>
- ----------------------------- -------------------------------
CUSIP No. 917327 10 8 13D Page 34 of 52 Pages
- ----------------------------- -------------------------------
The following constitutes the Schedule 13D filed by the
undersigned (the "Schedule 13D").
Item 1. Security and Issuer.
--------------------
This statement relates to shares (the "Shares") of the common
stock, $.001 par value per share ("Common Stock"), of USWeb Corporation (the
"Issuer"). The principal executive offices of the Issuer are located at 2880
Lakeside Drive, Santa Clara, California 95054.
Item 2. Identity and Background.
-----------------------
1. (a) Wheatley Partners, L.P., a Delaware limited
partnership ("Wheatley").
(b) Address: 80 Cuttermill Road
Suite 311
Great Neck, NY 11021
(c) Principal Business: Investments
2. (a) Wheatley Foreign Partners, L.P., a Delaware limited
partnership ("Wheatley Foreign").
(b) Address: Third Floor
One Capital Place
P.O. Box 1062
George Town, Grand Cayman
Cayman Islands, B.W.I.
(c) Principal Business: Investments
3. (a) Wheatley Management Ltd., a Cayman Islands
corporation ("Wheatley Management").
(b) Address: Third Floor
One Capital Place
P.O. Box 1062
George Town, Grand Cayman
Cayman Islands, B.W.I.
(c) Principal Business: Investments
4. (a) Wheatley Partners, LLC, a Delaware limited
liability company ("Wheatley LLC").
(b) Address: 80 Cuttermill Road
Suite 311
Great Neck, NY 11021
(c) Principal Business: Investments
5. (a) Barry Fingerhut
(b) Address: 80 Cuttermill Road
Suite 311
Great Neck, NY 11021
(c) Principal Business: Investments
(f) Citizenship: United States
6. (a) Barry Rubenstein
(b) Address: 68 Wheatley Road
Brookville, New York 11545
(c) Principal Business: Investments
(f) Citizenship: United States
7. (a) Woodland Partners, a New York general partnership.
(b) Address: 68 Wheatley Road
Brookville, New York 11545
(c) Principal Business: Investments
<PAGE>
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CUSIP No. 917327 10 8 13D Page 35 of 52 Pages
- ----------------------------- -------------------------------
8. (a) Marilyn Rubenstein
(b) Address: 68 Wheatley Road
Brookville, New York 11545
(c) Principal Business: Investments
(f) Citizenship: United States
9. (a) Irwin Lieber
(b) Address: 80 Cuttermill Road
Suite 311
Great Neck, NY 11021
(c) Principal Business: Investments
(f) Citizenship: United States
10. (a) Matthew Smith
(b) Address: 80 Cuttermill Road
Suite 311
Great Neck, NY 11021
(c) Principal Business: Investments
(f) Citizenship: United States
11. (a) Jonathan Lieber
(b) Address: 80 Cuttermill Road
Suite 311
Great Neck, NY 11021
(c) Principal Business: Investments
(f) Citizenship: United States
12. (a) Seth Lieber
(b) Address: 80 Cuttermill Road
Suite 311
Great Neck, NY 11021
(c) Principal Business: Investments
(f) Citizenship: United States
13. (a) 21st Century Communications Partners, L.P., a
Delaware limited partnership ("21st Century
Partners").
(b) Address: 767 Fifth Avenue, 45th Floor
New York, NY 10153
(c) Principal Business: Investments
14. (a) 21st Century Communications T-E Partners, L.P., a
Delaware limited partnership ("21st Century T-E").
(b) Address: 767 Fifth Avenue, 45th Floor
New York, NY 10153
(c) Principal Business: Investments
15. (a) 21st Century Communications Foreign Partners,
L.P., a Delaware limited partnership ("21st Century
Foreign").
(b) Address: One Capitol Place, 3rd Floor
Shedden Road
George Town, Grand Cayman Island
British West Indies
(c) Principal Business: Investments
16. (a) Sandler Investment Partners, L.P. a New York limited
partnership ("Sandler Investment").
(b) Address: 767 Fifth Avenue, 45th Floor
New York, NY 10153
(c) Principal Business: Investments
17. (a) Sandler Capital Management, a New York general
partnership ("Sandler Capital").
(b) Address: 767 Fifth Avenue, 45th Floor
New York, NY 10153
<PAGE>
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CUSIP No. 917327 10 8 13D Page 36 of 52 Pages
- ----------------------------- -------------------------------
(c) Principal Business: Investments
18. (a) ARH Corp., a Delaware corporation.
(b) Address: 767 Fifth Avenue, 45th Floor
New York, NY 10153
(c) Principal Business: Investments
19. (a) ALSI, LLC, a New York limited liability company.
(b) Address: 767 Fifth Avenue, 45th Floor
New York, NY 10153
(c) Principal Business: Investments
20. (a) MJDM Corp., a New York corporation.
(b) Address: 767 Fifth Avenue, 45th Floor
New York, NY 10153
(c) Principal Business: Investments
21. (a) Four JK Corp., a Delaware corporation.
(b) Address: 767 Fifth Avenue, 45th Floor
New York, NY 10153
(c) Principal Business: Investments
22. (a) InfoMedia Associates, Ltd., a New York corporation
("InfoMedia Associates").
(b) Address: 68 Wheatley Road
Brookville, New York 11545
(c) Principal Business: Investments
23. (a) Harvey Sandler
(b) Address: 767 Fifth Avenue, 45th Floor
New York, NY 10153
(c) Principal Business: Investments
(f) Citizenship: United States
24. (a) Andrew Sandler
(b) Address: 767 Fifth Avenue, 45th Floor
New York, NY 10153
(c) Principal Business: Investments
(f) Citizenship: United States
25. (a) Michael Marocco
(b) Address: 767 Fifth Avenue, 45th Floor
New York, NY 10153
(c) Principal Business: Investments
(f) Citizenship: United States
26. (a) John Kornreich
(b) Address: 767 Fifth Avenue, 45th Floor
New York, NY 10153
(c) Principal Business: Investments
(f) Citizenship: United States
(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
<PAGE>
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CUSIP No. 917327 10 8 13D Page 37 of 52 Pages
- ----------------------------- -------------------------------
to, federal or state securities laws or finding any violation with respect to
such laws.
Each of the foregoing may, at times, be referred to as a
"Reporting Person" and collectively, as the "Reporting Persons."
Item 3. Source and Amount of Funds or Other Consideration.(2)
-------------------------------------------------
The aggregate purchase price of the 1,422,462 shares of Common
Stock (including 110,710 shares issuable upon exercise of currently exercisable
warrants at an exercise price of $7.50 per share, subject to adjustment) held by
Wheatley is $7,334,470.75 (including the value of a cashless exercise of
warrants issued by Gray Peak Technologies, Inc. ("Gray Peak") prior to the
Merger (as hereinafter defined)) and were acquired and will be acquired with its
working capital and its other funds.
The aggregate purchase price of the 129,814 shares of Common
Stock (including (i) 27,664 shares acquired upon the cashless exercise of
warrants and (ii) including 10,062 shares issuable upon exercise of currently
exercisable warrants at an exercise price of $7.50 per share, subject to
adjustment) held by Wheatley Foreign is $665,540.57 (including the value of a
cashless exercise of warrants issued by Gray Peak prior to the Merger) and were
acquired and will be acquired with its working capital and its other funds.
The aggregate purchase price of the 130,612 shares of Common
Stock held by Woodland Partners is $700,000 (including the value of a cashless
exercise of warrants issued by Gray Peak prior to the Merger) and were acquired
with its working capital and other funds.
The aggregate purchase price of the 682,367 shares of Common
Stock (including 136,473 shares issuable upon exercise of currently exercisable
warrants at an exercise price of $7.50 per share) held by 21st Century Partners
is $3,389,999.67 and were acquired and will be acquired with its working capital
and its other funds.
The aggregate purchase price of the 232,086 shares of Common
Stock (including 46,417 shares issuable upon exercise of currently exercisable
warrants at an exercise price of $7.50 per share) held by 21st Century T-E is
$1,153,000.35 and were acquired and will be acquired with its working capital
and its other funds.
The aggregate purchase price of the 91,989 shares of Common
Stock (including 18,398 shares issuable upon exercise of currently exercisable
warrants at an exercise price of $7.50 per share) held by 21st Century Foreign
is $457,000.11 and were acquired and will be acquired with its working capital
and its other funds.
The aggregate purchase price of 17,977 shares of Common Stock
held by Matthew A. Smith(3) is $80,000 (including the value of a cashless
exercise of
- -------------------
(2) Reference is made to Item 5(c) regarding the issuance to certain
Reporting Persons of certain shares of Common Stock upon the exchange of shares
of Gray Peak Common Stock (as hereinafter defined) pursuant to the Merger.
(3) Matthew A. Smith has resigned effective June 30, 1998 as a member of
Wheatley LLC and until such time may be deemed to be the beneficial holder of an
aggregate of 1,552,276 shares of Common Stock held by Wheatley or Wheatley
Foreign. Mr. Smith disclaims beneficial ownership of these shares except to be
extent of his respective equity interest therein. Mr. Small disclaims membership
in a group with the Schedule 13D filers other than as a result of his being a
member of Wheatley LLC through June 30, 1998.
<PAGE>
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CUSIP No. 917327 10 8 13D Page 38 of 52 Pages
- ----------------------------- -------------------------------
warrants issued by Gray Peak prior to the Merger) and were acquired with his
personal and other funds.
Barry A. Rubenstein, Irwin Lieber, Seth Lieber and Jonathan
Lieber acquired 25,978, 25,978, 8,659 and 8,659 shares of Common Stock upon the
cashless exercise of warrants issued by Gray Peak prior to the Merger valued at
$120,000, $120,000, $40,000 and $40,000, respectively.
Item 4. Purpose of Transaction.
-----------------------
Other than Mr. Rubenstein's capacity as director of the
Issuer, no Reporting Person has any present plan or proposal which would relate
to or result in any of the matters set forth in subparagraphs (a) - (j) of Item
4 of Schedule 13D except as set forth herein.
Item 5. Interest in Securities of the Issuer.
-------------------------------------
(a) The following table sets forth the aggregate number and
percentage (based on 38,533,981 shares of Common Stock outstanding as of June
17, 1998 as reported by a representative of the Issuer) of Common Stock
beneficially owned by each Reporting Person named in Item 2 of Schedule 13D.
<TABLE>
<CAPTION>
Percentage of
Shares of Common Shares of Common
Stock Stock
Name Beneficially Owned Beneficially Owned
- ---- ------------------ ------------------
<S> <C> <C>
Wheatley Partners, L.P.(1) 1,552,276 4.0
Barry Rubenstein(2)(5) 2,715,308 7.0
Irwin Lieber(2) 2,584,696 6.7
Barry Fingerhut(2) 2,558,718 6.6
Wheatley Partners, LLC(3) 1,552,276 4.0
Seth Lieber(3) 1,560,935 4.0
Jonathan Lieber(3) 1,560,935 4.0
Wheatley Management Ltd.(4) 129,814 0.3
Wheatley Foreign Partners, L.P.(3) 1,552,276 4.0
Woodland Partners 130,612 0.3
Marilyn Rubenstein(5) 130,612 0.3
21st Century Communications 1,006,442 2.6
Partners L.P.(6)
21st Century Communications T-E 1,006,442 2.6
Partners L.P.(6)
21st Century Communications 1,006,442 2.6
Foreign Partners L.P.(6)
Sandler Investment Partners, 1,006,442 2.6
L.P.(6)
Sandler Capital Management(6) 1,006,442 2.6
ARH Corp.(6) 1,006,442 2.6
</TABLE>
<PAGE>
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CUSIP No. 917327 10 8 13D Page 39 of 52 Pages
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<TABLE>
<CAPTION>
Percentage of
Shares of Common Shares of Common
Stock Stock
Name Beneficially Owned Beneficially Owned
- ---- ------------------ ------------------
<S> <C> <C>
ALSI, LLC(6) 1,006,442 2.6
MJDM Corp.(6) 1,006,442 2.6
Four JK Corp.(6) 1,006,442 2.6
InfoMedia Associates, Ltd.(6) 1,006,442 2.6
Harvey Sandler(6) 1,006,442 2.6
Andrew Sandler(6) 1,006,442 2.6
Michael Marocco(6) 1,006,442 2.6
John Kornreich(6) 1,006,442 2.6
</TABLE>
- ---------------------
(1) Includes (i) 119,752 shares of Common Stock and (ii) 10,062 shares of
Common Stock issuable upon exercise of currently exercisable warrants
held by Wheatley Foreign. Wheatley disclaims beneficial ownership of
these securities.
(2) Includes (a)(i) 1,311,752 shares of Common Stock and (ii) 110,710
shares of Common Stock issuable upon exercise of currently exercisable
warrants held by Wheatley (b)(i) 119,752 shares of Common Stock and
(ii) 10,062 shares of Common Stock issuable upon exercise of currently
exercisable warrants held by Wheatley Foreign, (c)(i) 545,894 shares of
Common Stock and (ii) 136,473 shares of Common Stock issuable upon
exercise of currently exercisable warrants held by 21st Century, (d)(i)
185,669 shares of Common Stock and (ii) 46,417 shares of Common Stock
issuable upon exercise of currently exercisable warrant held by 21st
Century T-E, and (e)(i) 73,591 shares of Common Stock and (ii) 18,398
shares of Common Stock issuable upon exercise of currently exercisable
warrants held by 21st Century Foreign. Each of Mr. Rubenstein, Mr. I.
Lieber and Mr. Fingerhut disclaims beneficial ownership of these
securities except to the extent of his respective equity interest
therein.
(3) Includes (a)(i) 1,311,752 shares of Common Stock and (ii) 110,710
shares of Common Stock issuable upon exercise of currently exercisable
warrants held by Wheatley (b)(i) 119,752 shares of Common Stock and
(ii) 10,062 shares of Common Stock issuable upon exercise of currently
exercisable warrants held by Wheatley Foreign. Each of Wheatley LLC,
Mr. S. Lieber, Mr. J. Lieber and Wheatley Foreign disclaims beneficial
ownership of these securities except to the extent of his/its
respective equity interest therein.
(4) Includes (i) 119,752 shares of Common Stock and (ii) 10,062 shares of
Common Stock issuable upon exercise of currently exercisable warrants
held by Wheatley Foreign. Wheatley Management disclaims beneficial
ownership of these securities except to the extent of its equity
interest therein.
(5) Consists of 130,612 shares of Common Stock held by Woodland Partners.
Each of Mr. and Ms. Rubenstein disclaims beneficial ownership of these
securities except to the extent of his/her respective equity interest
therein.
(6) Includes (a)(i) 545,894 shares of Common Stock and (ii) 136,473 shares
of Common Stock issuable upon exercise of currently exercisable
warrants held by 21st Century, (b)(i) 185,669 shares of Common Stock
and (ii) 46,417 shares of Common Stock issuable upon exercise of
currently exercisable warrant held by 21st Century T-E, and (c)(i)
73,591 shares of Common Stock and (ii) 18,398 shares of Common Stock
issuable upon exercise of currently exercisable
<PAGE>
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CUSIP No. 917327 10 8 13D Page 40 of 52 Pages
- ----------------------------- -------------------------------
warrants held by 21st Century Foreign. Each of 21st Century, 21st
Century T- E, 21st Century Foreign, Sandler Investment, Sandler
Capital, ARH Corp., ALSI, LLC, MJDM Corp., Four JK Corp., InfoMedia
Associates, Mr. H. Sandler, Mr. A. Sandler, Mr. Marocco and Mr.
Kornreich disclaim beneficial ownership of these securities except to
the extent of his/its respective equity interest therein.
(b) Wheatley has sole power to vote and dispose of 1,422,462
shares of Common Stock, representing approximately 3.7% of the outstanding
shares of Common Stock and may be deemed to have shared power to vote and
dispose of 129,814 shares of Common Stock, representing less than 1% of the
outstanding shares of Common Stock.
Wheatley Foreign has sole power to vote and dispose of 129,814 shares
of Common Stock, representing less than 1% of the outstanding shares of Common
Stock and may be deemed to have shared power to vote and dispose of 1,422,462
shares of Common Stock, representing approximately 3.7% of the outstanding
shares of Common Stock.
By virtue of being a general partner of Wheatley Foreign, Wheatley
Management may be deemed to have shared power to vote and dispose of 129,814
shares of Common Stock, representing less than 1% of the outstanding shares of
Common Stock.
By virtue of being the general partner of Wheatley and a general
partner of Wheatley Foreign, Wheatley LLC may be deemed to have shared power to
vote and dispose of 1,552,276 shares of Common Stock, representing approximately
4.0% of the outstanding shares of Common Stock.
Barry Rubenstein has sole power to vote and dispose of 25,978 shares of
Common Stock, representing less than 1% of the outstanding shares of Common
Stock and by virtue of his being a member and an officer of Wheatley LLC, a
shareholder, officer and director of InfoMedia and a general partner of Woodland
Partners, Mr. Rubenstein may be deemed to have shared power to vote and dispose
of 2,689,330 shares of Common Stock, representing approximately 6.9% of the
outstanding shares of Common Stock.
Irwin Lieber has sole power to vote and dispose of 25,978 shares of
Common Stock, representing less than 1% of the outstanding shares of Common
Stock and by virtue of his being a member and an officer of Wheatley LLC, and a
shareholder, officer and director of InfoMedia, Mr. Lieber may be deemed to have
shared power to vote and dispose of 2,558,718 shares of Common Stock,
representing approximately 6.6% of the outstanding shares of Common Stock.
By virtue of his being a member Wheatley LLC, and a shareholder,
officer and director of InfoMedia, Barry Fingerhut may be deemed to have shared
power to vote and dispose of 2,558,718 shares of Common Stock, representing
approximately 6.6% of the outstanding shares of Common Stock.
Jon Lieber has sole power to vote and dispose of 8,659 shares of Common
Stock, representing less than 1% of the outstanding shares of Common Stock and
by virtue of his being a member and an officer of Wheatley LLC, Mr. Lieber may
be deemed to have shared power to vote and dispose of 1,552,276 shares of Common
Stock, representing approximately 4.0% of the outstanding shares of Common
Stock.
Seth Lieber has sole power to vote and dispose of 8,659 shares of
Common Stock, representing less than 1% of the outstanding shares of Common
Stock and by virtue of his being a member and an officer of Wheatley LLC, Mr.
Lieber may be deemed to have shared power to vote and dispose of 1,552,276
shares of Common Stock, representing approximately 4.0% of the outstanding
shares of Common Stock.
Woodland Partners has sole power to vote and dispose of 130,612 shares
of Common Stock, representing less than 1% of the outstanding shares of Common
Stock.
<PAGE>
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CUSIP No. 917327 10 8 13D Page 41 of 52 Pages
- ----------------------------- -------------------------------
By virtue of her being a general partner of Woodland Partners, Marilyn
Rubenstein may be deemed to have shared power to vote and dispose of 130,612
shares of Common Stock, representing less than 1% of the outstanding shares of
Common Stock.
21st Century Partners has sole power to vote and dispose of 682,376
shares of Common Stock, representing approximately 1.8% of the outstanding
shares of Common Stock and may be deemed to have shared power to vote and
dispose of 324,075 shares of Common Stock, representing less than 1% of the
outstanding shares of Common Stock.
21st Century T-E has sole power to vote and dispose of 232,086 shares
of Common Stock, representing less than 1% of the outstanding shares of Common
Stock and may be deemed to have shared power to vote and dispose of 774,356
shares of Common Stock, representing approximately 2.0% of the outstanding
shares of Common Stock.
21st Century Foreign has sole power to vote and dispose of 91,989
shares of Common Stock, representing less than 1% of the outstanding shares of
Common Stock and may be deemed to have shared power to vote and dispose of
914,453 shares of Common Stock, representing approximately 2.4% of the
outstanding shares of Common Stock.
By virtue of his being the sole shareholder of ARH Corp., Harvey
Sandler may be deemed to have shared power to vote and dispose of 1,006,442
shares of Common Stock, representing approximately 2.6% of the outstanding
shares of Common Stock.
By virtue of his being the majority member of ALSI, LLC, Andrew Sandler
may be deemed to have shared power to vote and dispose of 1,006,442 shares of
Common Stock, representing approximately 2.6% of the outstanding shares of
Common Stock.
By virtue of his being the sole shareholder of MJDM Corp., Michael
Marocco may be deemed to have shared power to vote and dispose of 1,006,442
shares of Common Stock, representing approximately 2.6% of the outstanding
shares of Common Stock.
By virtue of his being the majority shareholder of Four JK Corp., John
Kornreich may be deemed to have shared power to vote and dispose of 1,006,442
shares of Common Stock, representing approximately 2.6% of the outstanding
shares of Common Stock.
By virtue of being a general partner of 21st Century Partners, 21st
Century T-E and 21st Century Foreign, Sandler Investment Partners may be deemed
to have shared power to vote and dispose of 1,006,442 shares of Common Stock,
representing approximately 2.6% of the outstanding shares of Common Stock.
By virtue of being a general partner of Sandler Investment Partners,
Sandler Capital Management may be deemed to have shared power to vote and
dispose of 1,006,442 shares of Common Stock, representing approximately 2.6% of
the outstanding shares of Common Stock.
By virtue of being a general partner of Sandler Capital Management, ARH
Corp. may be deemed to have shared power to vote and dispose of 1,006,442 shares
of Common Stock, representing approximately 2.6% of the outstanding shares of
Common Stock.
By virtue of being a general partner of Sandler Capital Management,
ALSI, LLC may be deemed to have shared power to vote and dispose of 1,006,442
shares of Common Stock, representing approximately 2.6% of the outstanding
shares of Common Stock.
By virtue of being a general partner of Sandler Capital Management,
MJDM Corp. may be deemed to have shared power to vote and dispose of 1,006,442
shares of Common Stock, representing approximately 2.6% of the outstanding
shares of Common Stock.
<PAGE>
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CUSIP No. 917327 10 8 13D Page 42 of 52 Pages
- ----------------------------- -------------------------------
By virtue of being a general partner of Sandler Capital Management,
Four JK Corp. may be deemed to have shared power to vote and dispose of
1,006,442 shares of Common Stock, representing approximately 2.6% of the
outstanding shares of Common Stock.
By virtue of being a general partner of 21st Century Partners, 21st
Century T-E and 21st Century Foreign, InfoMedia Associates may be deemed to have
shared power to vote and dispose of 1,006,442 shares of Common Stock,
representing approximately 2.6% of the outstanding shares of Common Stock.
(c) The following table sets forth a description of all
transactions in shares of Common Stock of the Issuer by the Reporting Persons
identified in Item 2 of this Schedule 13D effected in the last sixty days.
Number of
Acquisition Shares
Reporting Person Date Acquired Consideration(1)
- ---------------- ---- -------- ----------------
Wheatley 6/16/98 868,910(2)
Wheatley Foreign 6/16/98 79,501(3)
Woodland Partners 6/16/98 130,612(4)
Barry Rubenstein 6/16/98 25,978
Irwin Lieber 6/16/98 25,978
Seth Lieber 6/16/98 8,659
Jonathan Lieber 6/16/98 8,659
Matthew A. Smith 6/16/98 17,977(5)
- ----------------------
(1) The Reporting Persons set forth above acquired the shares of Common
Stock pursuant to an Agreement and Plan of Reorganization (the "Merger
Agreement") dated as of May 13, 1998. The Merger Agreement contemplated
that the stockholders of Gray Peak would exchange their shares of Gray
Peak common stock, $.01 par value per share ("Gray Peak Common Stock")
for shares of Common Stock at a ratio to be determined on the closing
date and each adjustment date of the merger (the "Merger") contemplated
in the Merger Agreement. The ratio for June 16, 1998, the initial
closing date of the Merger, was determined to be one share of Gray Peak
Common stock for .27719 shares of Common Stock, and pursuant to the
Merger Agreement, the Issuer issued to all holders of Gray Peak Common
Stock 90% of the shares of Common Stock issuable upon exchange of the
shares of Gray Peak common Stock, with the final 10% held in escrow and
scheduled to be issued on an adjustment date in July 1998, subject to
satisfaction of certain conditions.
(2) Pursuant to the terms and conditions of the Merger Agreement, a letter
agreement among the former holders of the Series B Preferred Stock of
Gray Peak and certain escrow agreements by and among Gray Peak, the
Issuer and certain other parties (collectively, the "Escrow Terms"),
124,295 shares of Common Stock have been placed into certain escrow
accounts (the "Escrow Accounts"), which are subject to forfeiture by
Wheatley upon the occurrence of certain conditions set forth in the
Escrow Terms.
(3) 11,160 shares of Common Stock have been placed into the Escrow
Accounts, which are subject to forfeiture by Wheatley Foreign upon the
occurrence of certain conditions set forth in the Escrow Terms.
(4) 19,275 shares of Common Stock have been placed into the Escrow
Accounts, which are subject to forfeiture by Woodland Partners upon the
occurrence certain conditions set forth in the Escrow Terms.
<PAGE>
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CUSIP No. 917327 10 8 13D Page 43 of 52 Pages
- ----------------------------- -------------------------------
(5) 832 shares of Common Stock have been placed into certain of the Escrow
Accounts, which are subject to forfeiture by Mr. Smith upon the
occurrence of certain conditions set forth in the Escrow Terms.
(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 Common Stock.
(e) Not applicable.
Item 6. Contracts, Agreements, Understandings or
Relationships with Respect to Securities of the Issuer.
------------------------------------------------------
Other than as described herein, 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.
Item 7. Material to be Filed as Exhibits.
--------------------------------
1. Joint Filing Agreement
<PAGE>
- ----------------------------- -------------------------------
CUSIP No. 917327 10 8 13D Page 44 of 52 Pages
- ----------------------------- -------------------------------
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: June 26, 1998 WHEATLEY PARTNERS, L.P.
By: Wheatley Partners, LLC,
General Partner
By: /s/ Barry Rubenstein
----------------------------------
Barry Rubenstein, Chief Executive
Officer
WHEATLEY PARTNERS, LLC
By: /s/ Barry Rubenstein
----------------------------------
Barry Rubenstein, Chief Executive
Officer
/s/ Barry Rubenstein
---------------------------------------
Barry Rubenstein
/s/ Irwin Lieber
---------------------------------------
Irwin Lieber
/s/ Barry Fingerhut
---------------------------------------
Barry Fingerhut
/s/ Seth Lieber
---------------------------------------
Seth Lieber
/s/ Jonathan Lieber
---------------------------------------
Jonathan Lieber
/s/ Matthew A. Smith
---------------------------------------
Matthew A. Smith
<PAGE>
- ----------------------------- -------------------------------
CUSIP No. 917327 10 8 13D Page 45 of 52 Pages
- ----------------------------- -------------------------------
WHEATLEY MANAGEMENT LTD.
By: /s/ Irwin Lieber
-------------------------------------
Irwin Lieber, President
WHEATLEY FOREIGN PARTNERS, L.P.
By: Wheatley Partners, LLC, General
Partner
By: /s/ Barry Rubenstein
-------------------------------------
Barry Rubenstein, Chief Executive
Officer
WOODLAND PARTNERS
By: /s/ Barry Rubenstein
-------------------------------------
Barry Rubenstein, a General Partner
/s/ Marilyn Rubenstein
----------------------------------------
Marilyn Rubenstein
INFOMEDIA ASSOCIATES, LTD.
By: /s/ Barry Rubenstein
-------------------------------------
Barry Rubenstein, President
21ST CENTURY COMMUNICATIONS PARTNERS, L.P.
By: Sandler Investment Partners, L.P.,
General Partner
By: Sandler Capital Management, General
Partner
By: ARH Corp., General Partner
By: /s/ Edward Grinacoff
-------------------------------------
Edward Grinacoff, Secretary and Treasurer
21ST CENTURY COMMUNICATIONS T-E PARTNERS,
L.P.
By: Sandler Investment Partners, L.P.,
General Partner
By: Sandler Capital Management, General
Partner
By: ARH Corp., General Partner
By: /s/ Edward Grinacoff
-------------------------------------
Edward Grinacoff, Secretary and Treasurer
<PAGE>
- ----------------------------- -------------------------------
CUSIP No. 917327 10 8 13D Page 46 of 52 Pages
- ----------------------------- -------------------------------
21ST CENTURY COMMUNICATIONS FOREIGN
PARTNERS, L.P.
By: Sandler Investment Partners, L.P.,
General Partner
By: Sandler Capital Management, General
Partner
By: ARH Corp., General Partner
By: /s/ Edward Grinacoff
-------------------------------------
Edward Grinacoff, Secretary and Treasurer
SANDLER INVESTMENT PARTNERS, L.P.
By: Sandler Capital Management, General
Partner
By: ARH Corp., General Partner
By: /s/ Edward Grinacoff
-------------------------------------
Edward Grinacoff, Secretary and Treasurer
SANDLER CAPITAL MANAGEMENT
By: ARH Corp., General Partner
By: /s/ Edward Grinacoff
-------------------------------------
Edward Grinacoff, Secretary and Treasurer
ARH CORP.
By: /s/ Edward Grinacoff
-------------------------------------
Edward Grinacoff, Secretary and Treasurer
ALSI, LLC
By: /s/ Andrew Sandler
------------------------------------
Andrew Sandler, Member
MJDM CORP.
By: /s/ Michael Marocco
------------------------------------
Michael Marocco, Shareholder
<PAGE>
- ----------------------------- -------------------------------
CUSIP No. 917327 10 8 13D Page 47 of 52 Pages
- ----------------------------- -------------------------------
FOUR JK CORP.
By: /s/ John Kornreich
------------------------------
John Kornreich, Shareholder
/s/ Harvey Sandler
------------------------------
Harvey Sandler
/s/ Andrew Sandler
------------------------------
Andrew Sandler
/s/ Michael Marocco
------------------------------
Michael Marocco
/s/ John Kornreich
------------------------------
John Kornreich
<PAGE>
- ----------------------------- -------------------------------
CUSIP No. 917327 10 8 13D Page 48 of 52 Pages
- ----------------------------- -------------------------------
EXHIBIT INDEX
Exhibit Page
A. Joint Filing Agreement 49
<PAGE>
- ----------------------------- -------------------------------
CUSIP No. 917327 10 8 13D Page 49 of 52 Pages
- ----------------------------- -------------------------------
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 June 26,
1998 (including amendments thereto) with respect to the Common Stock of USWeb
Corporation. This Joint Filing Agreement shall be filed as an Exhibit to such
Statement.
Dated: June 26, 1998 WHEATLEY PARTNERS, L.P.
By: Wheatley Partners, LLC,
General Partner
By: /s/ Barry Rubenstein
----------------------------------
Barry Rubenstein, Chief Executive
Officer
WHEATLEY PARTNERS, LLC
By: /s/ Barry Rubenstein
----------------------------------
Barry Rubenstein, Chief Executive
Officer
/s/ Barry Rubenstein
---------------------------------------
Barry Rubenstein
/s/ Irwin Lieber
---------------------------------------
Irwin Lieber
/s/ Barry Fingerhut
---------------------------------------
Barry Fingerhut
/s/ Seth Lieber
---------------------------------------
Seth Lieber
/s/ Jonathan Lieber
---------------------------------------
Jonathan Lieber
/s/ Matthew A. Smith
---------------------------------------
Matthew A. Smith
<PAGE>
- ----------------------------- -------------------------------
CUSIP No. 917327 10 8 13D Page 50 of 52 Pages
- ----------------------------- -------------------------------
WHEATLEY MANAGEMENT LTD.
By: /s/ Irwin Lieber
----------------------------------------------
Irwin Lieber, President
WHEATLEY FOREIGN PARTNERS, L.P.
By: Wheatley Partners, LLC, General
Partner
By: /s/ Barry Rubenstein
----------------------------------------------
Barry Rubenstein, Chief Executive
Officer
WOODLAND PARTNERS
By: /s/ Barry Rubenstein
----------------------------------------------
Barry Rubenstein, a General Partner
/s/ Marilyn Rubenstein
-------------------------------------------------
Marilyn Rubenstein
INFOMEDIA ASSOCIATES, LTD.
By: /s/ Barry Rubenstein
----------------------------------------------
Barry Rubenstein, President
21ST CENTURY COMMUNICATIONS PARTNERS, L.P.
By: Sandler Investment Partners, L.P.,
General Partner
By: Sandler Capital Management, General
Partner
By: ARH Corp., General Partner
By: /s/ Edward Grinacoff
----------------------------------------------
Edward Grinacoff, Secretary and Treasurer
<PAGE>
- ----------------------------- -------------------------------
CUSIP No. 917327 10 8 13D Page 51 of 52 Pages
- ----------------------------- -------------------------------
21ST CENTURY COMMUNICATIONS T-E PARTNERS,
L.P.
By: Sandler Investment Partners, L.P.,
General Partner
By: Sandler Capital Management, General
Partner
By: ARH Corp., General Partner
By: /s/ Edward Grinacoff
----------------------------------------------
Edward Grinacoff, Secretary and Treasurer
21ST CENTURY COMMUNICATIONS FOREIGN
PARTNERS, L.P.
By: Sandler Investment Partners, L.P.,
General Partner
By: Sandler Capital Management, General
Partner
By: ARH Corp., General Partner
By: /s/ Edward Grinacoff
---------------------------------------------
Edward Grinacoff, Secretary and Treasurer
SANDLER INVESTMENT PARTNERS, L.P.
By: Sandler Capital Management, General
Partner
By: ARH Corp., General Partner
By: /s/ Edward Grinacoff
---------------------------------------------
Edward Grinacoff, Secretary and Treasurer
SANDLER CAPITAL MANAGEMENT
By: ARH Corp., General Partner
By: /s/ Edward Grinacoff
---------------------------------------------
Edward Grinacoff, Secretary and Treasurer
ARH CORP.
By: /s/ Edward Grinacoff
----------------------------------------------
Edward Grinacoff, Secretary and Treasurer
<PAGE>
- ----------------------------- -------------------------------
CUSIP No. 917327 10 8 13D Page 52 of 52 Pages
- ----------------------------- -------------------------------
ALSI, LLC
By: /s/ Andrew Sandler
---------------------------------------------
Andrew Sandler, Member
MJDM CORP.
By: /s/ Michael Marocco
---------------------------------------------
Michael Marocco, Shareholde
FOUR JK CORP.
By: /s/ John Kornreich
---------------------------------------------
John Kornreich, Shareholder
/s/ Harvey Sandler
-------------------------------------------------
Harvey Sandler
/s/ Andrew Sandler
-------------------------------------------------
Andrew Sandler
/s/ Michael Marocco
-------------------------------------------------
Michael Marocco
/s/ John Kornreich
-------------------------------------------------
John Kornreich
