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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 13d-2(a).
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
PRECISION RESPONSE CORPORATION
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(Name of Issuer)
COMMON STOCK, $.01 par value
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(Title of Class of Securities)
740314 10 9
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(CUSIP Number)
Mark J. Gordon, Precision Response Corporation, 1505 N.W. 167th Street,
Miami, Florida 33169, (305) 626-4600
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(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
February 4, 1997
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(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(b)(3) or (4), check the following box [ ].
Check the following box if a fee is being paid with this statement [ ].
(A fee is not required only if the reporting person: (1) has a previous
statement on file reporting beneficial ownership of more than five percent of
the class of securities described in Item 1; and (2) has filed no amendment
subsequent thereto reporting beneficial ownership of less than five percent of
such class. See Rule 13d-7.)
Note. Six copies of this statement, including all exhibits,
should be filed with the Commission. See Rule 13d-1(a) for other parties
to whom copies are to be sent.
*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which would
alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not
be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).
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<TABLE>
<CAPTION>
CUSIP No. 740314 10 9
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<S> <C>
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1) Names of Reporting Persons/S.S. or I.R.S. Identification Nos. of Above Persons
MGFLP 1996-I Limited Partnership
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2) Check the Appropriate Row if a Member of a Group (See Instructions)
(a)
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(b)
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3) SEC Use Only
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4) Source of Funds (See Instructions) Not Applicable
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5) Check if Disclosure of Legal Proceedings is Required Pursuant to Item 2(d)
or 2(e)
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6) Citizenship or Place of Organization Texas
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Number of (7) Sole Voting Power 5,212,000
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Shares Bene-
ficially (8) Shared Voting Power 0
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Owned by
Each (9) Sole Dispositive Power 5,212,000
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Reporting
Person With (10) Shared Dispositive Power 0
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11) Aggregate Amount Beneficially Owned by Each Reporting Person 5,212,000
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12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions)
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13) Percent of Class Represented by Amount in Row (11) 24.2%
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14) Type of Reporting Person (See Instructions) PN
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</TABLE>
2
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<TABLE>
<CAPTION>
CUSIP No. 740314 10 9
---------------------
<S> <C>
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1) Names of Reporting Persons/S.S. or I.R.S. Identification Nos. of Above Persons
MGFLP 1996-II Limited Partnership
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2) Check the Appropriate Row if a Member of a Group (See Instructions)
(a)
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(b)
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3) SEC Use Only
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4) Source of Funds (See Instructions) Not Applicable
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5) Check if Disclosure of Legal Proceedings is Required Pursuant to Item 2(d)
or 2(e)
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6) Citizenship or Place of Organization Texas
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Number of (7) Sole Voting Power 575,000
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Shares Bene-
ficially (8) Shared Voting Power 0
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Owned by
Each (9) Sole Dispositive Power 575,000
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Reporting
Person With (10) Shared Dispositive Power 0
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11) Aggregate Amount Beneficially Owned by Each Reporting Person 575,000
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12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions)
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13) Percent of Class Represented by Amount in Row (11) 2.7%
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14) Type of Reporting Person (See Instructions) PN
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</TABLE>
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<TABLE>
<CAPTION>
CUSIP No. 740314 10 9
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<S> <C>
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1) Names of Reporting Persons/S.S. or I.R.S. Identification Nos. of Above Persons
Mark J. Gordon
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2) Check the Appropriate Row if a Member of a Group (See Instructions)
(a)
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(b)
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3) SEC Use Only
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4) Source of Funds (See Instructions) Not Applicable
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5) Check if Disclosure of Legal Proceedings is Required Pursuant to Item 2(d)
or 2(e)
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6) Citizenship or Place of Organization USA
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Number of (7) Sole Voting Power 6,595,000
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Shares Bene-
ficially (8) Shared Voting Power 698,283
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Owned by
Each (9) Sole Dispositive Power 5,790,000
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Reporting
Person With (10) Shared Dispositive Power 698,283
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11) Aggregate Amount Beneficially Owned by Each Reporting Person 7,293,283
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12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions)
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13) Percent of Class Represented by Amount in Row (11) 33.9%
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14) Type of Reporting Person (See Instructions) IN
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</TABLE>
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This Amendment No. 1 relates to, and amends as and to the extent
indicated herein, the Schedule 13D ("Schedule 13D") filed on January 7, 1997 in
connection with the beneficial ownership by MGFLP 1996-I Limited Partnership,
MGFLP 1996-II Limited Partnership and Mark J. Gordon of shares of Common Stock,
par value $0.01 per share ("Common Stock"), of Precision Response Corporation, a
Florida corporation (the "Company"). Unless otherwise defined herein,
capitalized terms used herein shall have the meanings ascribed to them in the
Schedule 13D. Except as specifically amended herein, the information in the
Schedule 13D remains unchanged.
This Amendment No. 1 is the final amendment with respect to MGFLP
1996-II Limited Partnership, which is currently the beneficial owner of less
than five percent of the Common Stock of the Company.
ITEM 4. PURPOSE OF TRANSACTION.
This Amendment No. 1 is being filed to report a material decrease in
the percentage of the outstanding Common Stock beneficially owned by each of the
reporting persons as a result of the recently completed Secondary Offering
(defined below).
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
Item 5 is hereby amended and supplemented by the addition of the
following:
Information with respect to MGFLP 1996-I Limited Partnership
(a) Aggregate number and percentage of Common Stock owned: By
virtue of the increase in the outstanding shares of Common
Stock of the Company as a result of the Secondary Offering,
MGFLP 1996-I Limited Partnership currently owns 24.2% of the
outstanding shares of Common Stock of the Company. See Items
11 and 13 of the applicable cover page to this Amendment No. 1
which are incorporated herein by reference.
(b) Shared vs. sole voting and dispositive power: The information
presented in Items 7 through 10 of the applicable cover page
to this Amendment No. 1 is incorporated herein by reference.
Information with respect to MGFLP 1996-II Limited Partnership
(a) Aggregate number and percentage of Common Stock owned: MGFLP
1996-II Limited Partnership no longer owns in excess of 5% of
the outstanding shares of Common Stock of the Company. See
Items 11 and 13 of the applicable cover page to this Amendment
No. 1 which are incorporated herein by reference.
(b) Shared vs. sole voting and dispositive power: The information
presented in Items 7 through 10 of the applicable cover page
to this Amendment No. 1 is incorporated herein by reference.
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(c) Transactions during last 60 days: On February 4, 1997, MGFLP
1996-II Limited Partnership sold 1,000,000 shares of Common
Stock of the Company to the underwriters in connection with a
firm commitment public offering of the Company's Common Stock
(the "Secondary Offering") at a price per share of $33.375
(exclusive of $1.75 per share in underwriting discount) (the
"Secondary Offering Price").
Information with respect to Mark J. Gordon
(a) Aggregate number and percentage of Common Stock owned: The
information presented in Items 11 and 13 of the applicable
cover page to this Amendment No. 1 is incorporated herein by
reference.
(b) Shared vs. sole voting and dispositive power: The information
presented in Items 7 through 10 of the applicable cover page
to this Amendment No. 1 is incorporated herein by reference.
With respect to the 698,283 shares for which voting and
dispositive powers are shared, such shares are held as
follows: (i) 50,000 shares are held by the David L. Epstein
1996 Grantor Retained Annuity Trust #2 (a trust created by
David L. Epstein (a director and executive officer of the
Company) for the benefit of himself and his family members),
as to which Mr. Gordon shares the voting and dispositive
duties with Richard D. Mondre, a director and executive
officer of the Company, as co-trustees under the trust; and
(ii) 648,283 shares are beneficially owned by the David
Epstein 1995 Grantor Trust (a trust created by Mr. Epstein for
the benefit of his children), as to which Mr. Gordon shares
the voting and dispositive duties with Mr. Mondre as co-
trustees under the trust and as the sole directors and
officers of the corporate general partner of two Texas limited
partnerships, which limited partnerships in the aggregate hold
record ownership of such shares.
(c) Transactions during the last 60 days:
(i) On February 4, 1997, MG Holdings, Inc., voting
trustee of certain shares pecuniarily owned by RDMFLP
1996-II Limited Partnership and JFMFLP 1996-II
Limited Partnership (collectively, the
"Partnerships"), acting pursuant to instructions from
the Partnerships, transferred 337,500 shares to the
underwriters in connection with the Secondary
Offering. Such shares were sold to the underwriters
by the Partnerships at the Secondary Offering Price.
(ii) On February 4, 1997, DEGTLP 1996-II Limited
Partnership (a limited partnership in which Mark J.
Gordon holds no pecuniary interest but for which, by
virtue of his shared voting and dispositive powers
over the shares held by such partnership, he is
deemed to be the beneficial owner) sold to the
underwriters in the Secondary Offering 180,000 shares
of Common Stock at the Secondary Offering Price.
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(iii) On February 4, 1997, The Gordon Family Charitable
Remainder Unitrust, which provides income to Mr.
Gordon and Gail Gordon, his wife, during their
lifetimes, with the remainder going to the charity of
their choice upon their death, sold to the
underwriters in the Secondary Offering 200,000 shares
of Common Stock at the Secondary Offering Price.
(iv) On February 4, 1997, The Gordon Family Foundation,
Inc. (a not-for-profit corporation which, by virtue
of his shared voting and dispositive powers over the
shares held by such corporation, Mr. Gordon is deemed
the beneficial owner) sold to the underwriters in the
Secondary Offering 150,000 shares of Common Stock at
the Secondary Offering Price.
(v) For information with respect to recent sales by MGFLP
1996-II Limited Partnership, which is beneficially
owned by Mr. Gordon, see "Information with respect to
MGFLP 1996-II Limited Partnership" above.
(d) The shares sold in the Secondary Offering by the Partnerships
reduced the number of shares which a Texas corporation owned
and controlled by Mark J. Gordon has the sole voting power and
with respect to which Richard D. Mondre and James F. Murray
have the right to receive, and the power to direct the receipt
of, dividends from, and the proceeds from the sale of, such
shares. Such number of shares with respect to Richard D.
Mondre and James F. Murray is currently 408,750 and 396,250,
respectively.
(e) On February 4, 1997, MGFLP 1996-II Limited Partnership ceased
to be the beneficial owner of more than five percent of the
Common Stock of the Company.
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SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct and that this statement is filed on behalf of each of the signatories
hereto.
February 13, 1997
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(Date)
/s/ Mark J. Gordon
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(Signature)
Mark J. Gordon, President, MGFLP 1996-I
GP, Inc., the general partner of MGFLP 1996-I
Limited Partnership
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(Name and Title)
February 13, 1997
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(Date)
/s/ Mark J. Gordon
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(Signature)
Mark J. Gordon, President, MGFLP 1996-II
GP, Inc., the general partner of MGFLP 1996-II
Limited Partnership
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(Name and Title)
February 13, 1997
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(Date)
/s/ Mark J. Gordon
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(Signature)
Mark J. Gordon, individual
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(Name and Title)
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