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OMB APPROVAL
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OMB Number 3235-0287
Expires: December 31, 2001
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5
obligations may continue. See Instruction 1(b).
(Print or Type Response)
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1. Name and Address of Reporting Person(*)
Mehra Sanjeev K.
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(Last) (First) (Middle)
c/o Goldman, Sachs & Co., 85 Broad Street
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(Street)
New York NY 10004
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
ProMedCo Management Company (NASDAQ:PMCO)
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3. IRS or Social Security Number of Reporting Person (Voluntary)
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4. Statement for Month/Year
June/2000
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5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
[ X ] Director [ ] 10% Owner
[ ] Officer (give title below) [ ] Other (specify below)
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7. Individual or Joint/Group Filing
(Check Applicable Line)
[ X ] Form filed by One Reporting Person
[ ] Form filed by More than One Reporting Person
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Table I -- Non-Derivative Securities Acquired, Disposed of,
or Beneficially Owned
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<TABLE>
<CAPTION>
6.
4. 5. Owner-
Securities Acquired (A) or Amount of ship
3. Disposed of (D) Securities Form: 7.
Transaction (Instr. 3, 4 and 5) Beneficially Direct Nature of
2. Code ------------------------------- Owned at End (D) or Indirect
1. Transaction (Instr. 8) (A) of Month Indirect Beneficial
Title of Security Date ------------ Amount or Price (Instr. 3 (I) Ownership
(Instr. 3) (mm/dd/yy) Code V (D) and 4) (Instr.4) (Instr. 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Common Stock, par value 6/12/00 J(2) 1,250,000 D (2) -0- I(1) (1)
$.01 per share
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</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly
* If the form is filed by more than one reporting person, see Instruction
4(b)(v).
FORM 4 (continued)
Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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<TABLE>
<CAPTION>
9. 10.
Number Owner-
of ship
2. Deriv- Form of
Conver- 5. 7. ative Deriv- 11.
sion Number of Title and Amount Secur- ative Nature
or Derivative 6. of Underlying 8. ities Secur- of
Exer- 4. Securities Date Securities Price Bene- ity: In-
cise 3. Trans- Acquired (A) Exercisable and (Instr. 3 and 4) of ficially Direct direct
Price Trans- action or Disposed Expiration Date ---------------- Deriv- Owned (D) or Bene-
1. of action Code of(D) (Month/Day/Year) Amount ative at End In- ficial
Title of Deriv- Date (Instr. (Instr. 3, ---------------- or Secur- of direct Owner-
Derivative ative (Month/ 8) 4 and 5) Date Expira- Number ity Month (I) ship
Security Secur- Day/ ------ ------------ Exer- tion of (Instr. (Instr. (Instr. (Instr.
(Instr. 3) ity Year) Code V (A) (D) cisable Date Title Shares 5) 4) 4) 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Series A (3) 6/12/00 P 425,000 Immed(3) 6/12/07 Common 17,000,000 (2) 425,000 I(1) (1)(6)
Convertible Stock
Preferred Stock
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Warrants to $97.00(4) 6/12/00 P 125,000 Immed(4) 6/12/03 Common 3,125,000 (2) -0- I(1) (1)(6)
purchase Series B Stock
Preferred Stock
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Warrants to $97.00(5) 6/12/00 C 125,000 Immed(4) 6/12/03 Common 3,125,000 (5) -0- I(1) (1)(6)
purchase Series B Stock
Preferred Stock
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Series B (5) 6/12/00 C 125,000 Immed(5) 6/12/07 Common 3,125,000 (5) 125,000 I(1) (1)(6)
Convertible Stock
Preferred Stock
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</TABLE>
Explanation of Responses: SEE ATTACHED PAGES
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(**)Signature of Reporting Person Date
Sanjeev K. Mehra by Attorney-in-fact
** Intentional misstatements or omissions of facts constitute Federal Criminal
Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space is insufficient, see Instruction 6 for procedure.
Potential persons who are to respond to the collection of information
contained in this form are not required to respond unless the form displays
a currently valid OMB Number.
<PAGE>
Item 1: Sanjeev K. Mehra
c/o Goldman, Sachs & Co.
85 Broad Street
New York, NY 10004
Item 2: ProMedCo Management Company (NASDAQ:PMCO)
Item 4: June 2000
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(1) The Reporting Person is a managing director of Goldman, Sachs & Co.
("Goldman Sachs"). Goldman Sachs is an indirect wholly-owned
subsidiary of The Goldman Sachs Group, Inc. ("GS Group"). The
Reporting Person disclaims beneficial ownership of the securities
reported herein except to the extent of his pecuniary interest
therein, if any.
(2) On June 12, 2000, Goldman Sachs and GS Group may be deemed to have
acquired beneficial ownership of an aggregate of 425,000 shares of
Series A Convertible Preferred Stock, par value $0.01 per share
(the "Series A Preferred Stock") of ProMedCo Management Company
(the "Company"), and warrants to purchase up to an aggregate of
125,000 shares of the Company's Series B Convertible Preferred
Stock, par value $0.01 per share (the "Series B Preferred Stock"),
(i) for an aggregate cash purchase price of $26,500,000 less an
amount equal to the sum of (x) the Second Closing Payment (defined
below), (y) accrued and unpaid interest on the Company's Senior
Subordinated Notes, due January 13, 2005 (the "Notes"), and (z) the
aggregate principal amount of any PIK Notes (as defined in the
Notes) issued to the Purchasers, with any accrued and unpaid
interest thereon through June 12, 2000, and (ii) in exchange for
(a) 1,250,000 shares of the Company's Common Stock, par value $0.01
per share (the "Common Stock"), and (b) $16,000,000 in aggregate
principal amount of the Notes. The "Second Closing Payment" is an
amount in cash equal to $795,000.
(3) Each share of Series A Preferred Stock is convertible at any time
at the option of the holder into such number of fully paid and
nonassessable shares of the Company's Common Stock, as is
determined by dividing (x) the Series A Liquidation Preference
(defined below), as of the conversion date, by (y) the Series A
Conversion Price (defined below), as of the conversion date. The
initial conversion price for Series A Preferred Stock is $2.50 per
share, which is subject to adjustment as provided in the
Certificate of Designation of the Series A Preferred Stock (the
"Series A Conversion Price"). The "Series A Liquidation Preference"
is $100.00 per share (as adjusted for any stock dividends,
combinations or splits with respect to such share), plus an amount
equal to all accrued but unpaid dividends (whether or not declared)
on such share.
(4) Subject to any adjustments for capital reorganization,
reclassification and the like, each warrant could be exercised, at
any time prior to 5:00 p.m. on June 12, 2003, to purchase one share
of the Company's Series B Preferred Stock, at an exercise price of
$97.00 per share.
(5) On June 12, 2000, the warrants were exercised to purchase 125,000
shares of Series B Preferred Stock, at an exercise price of $97.00
per share. Each share of Series B Preferred Stock is convertible at
any time at the option of the holder into such number of fully paid
and nonassessable shares of Common Stock as is determined by
dividing (x) the Series B Liquidation Preference (defined below) as
of the conversion date, by (y) the Series B Conversion Price
(defined below) as of the conversion date. The initial conversion
price for Series B Preferred Stock is $4.00 per share, which is
subject to adjustment as provided in the Certificate of Designation
of the Series B Preferred Stock (the "Series B Conversion Price").
The "Series B Liquidation Preference" is $100.00 per share (as
adjusted for any stock dividends, combinations or splits with
respect to such share), plus an amount equal to all accrued but
unpaid dividends (whether or not declared) on such share.
(6) Goldman Sachs and GS Group may be deemed to own beneficially and
indirectly in the aggregate 20,125,000 shares of Common Stock as a
result of the deemed beneficial ownership of 425,000 shares the
Company's Series A Convertible Preferred Stock, par value $0.01 per
share and 125,000 shares of Series B Preferred Stock by certain
investment partnerships of which affiliates of Goldman Sachs and GS
Group are the general partner or managing partner.
