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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
FIRST SIERRA FINANCIAL, INC.
(Name of Issuer)
Common Stock, $0.01 par value per share
(Title of Class of Securities)
335944 10 4
(CUSIP Number)
Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:
[ ] Rule 13d-1(b)
[ ] Rule 13d-1(c)
[X] Rule 13d-1(d)
* 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 in 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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CUSIP No. 335944 10 4 Page 2 of 11
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1. NAME OF REPORTING PERSON
Redstone Group, Ltd.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Not Applicable
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
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3. SEC USE ONLY
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4. CITIZENSHIP OR PLACE OF ORGANIZATION
Texas
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NUMBER OF | 5. SOLE VOTING POWER
|
SHARES | 1,423,151
|
BENEFICIALLY | 6. SHARED VOTING POWER
|
OWNED BY | -0-
EACH | 7. SOLE DISPOSITIVE POWER
|
REPORTING | 1,423,151
PERSON | 8. SHARED DISPOSITIVE POWER
|
WITH | -0-
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,423,151
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10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
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11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
12.38%
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12. TYPE OF REPORTING PERSON*
PN
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CUSIP No. 335944 10 4 Page 3 of 11
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1. NAME OF REPORTING PERSON
Redstone, Inc.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Not Applicable
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
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3. SEC USE ONLY
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4. CITIZENSHIP OR PLACE OF ORGANIZATION
Texas
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NUMBER OF | 5. SOLE VOTING POWER
|
SHARES | 1,423,151
|
BENEFICIALLY | 6. SHARED VOTING POWER
|
OWNED BY | -0-
EACH | 7. SOLE DISPOSITIVE POWER
|
REPORTING | 1,423,151
PERSON | 8. SHARED DISPOSITIVE POWER
|
WITH | -0-
- --------------------------------------------------------------------------------
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,423,151
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10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
- --------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
12.38%
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12. TYPE OF REPORTING PERSON*
CO
<PAGE> 4
CUSIP No. 335944 10 4 Page 4 of 11
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1. NAME OF REPORTING PERSON
David L. Solomon
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Not Applicable
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
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3. SEC USE ONLY
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4. CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
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NUMBER OF | 5. SOLE VOTING POWER
|
SHARES | 711,849
|
BENEFICIALLY | 6. SHARED VOTING POWER
|
OWNED BY | 2,135,000
EACH | 7. SOLE DISPOSITIVE POWER
|
REPORTING | 711,849
PERSON | 8. SHARED DISPOSITIVE POWER
|
WITH | 2,135,000
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,135,000
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10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
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11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
18.58%
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12. TYPE OF REPORTING PERSON*
IN
<PAGE> 5
CUSIP No. 335944 10 4 Page 5 of 11
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1. NAME OF REPORTING PERSON
David C. Shindeldecker
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Not Applicable
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
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3. SEC USE ONLY
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4. CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
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NUMBER OF | 5. SOLE VOTING POWER
|
SHARES | 104,867
|
BENEFICIALLY | 6. SHARED VOTING POWER
|
OWNED BY | 1,528,018
EACH | 7. SOLE DISPOSITIVE POWER
|
REPORTING | 104,867
PERSON | 8. SHARED DISPOSITIVE POWER
|
WITH | 1,528,018
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,528,018
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10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
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11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
13.30%
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12. TYPE OF REPORTING PERSON*
IN
<PAGE> 6
CUSIP No. 335944 10 4 Page 6 of 11
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Item 1(a) Name of Issuer:
First Sierra Financial, Inc.
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Item 1(b) Address of Issuer's Principal Executive Offices:
600 Travis Street
Houston, Texas 77002
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Item 2(a) Name of Person Filing:
Redstone Group, Ltd., a Texas limited partnership, Redstone,
Inc., a Texas corporation, that is also the sole general partner
of Redstone Group, Ltd., David L. Solomon and David C.
Shindeldecker. Mr. Solomon and Mr. Shindeldecker are each
executive officers and the sole shareholders of Redstone, Inc.,
the sole general partner of Redstone Group, Ltd., and each have
the power to direct the disposition or votes of the shares of
Common Stock of First Sierra Financial, Inc. that are the
subject of this Schedule 13(G). Each of such persons are
hereinafter referred to collectively as "Reporting
Person".
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Item 2(b) Address of Principal Business Office:
5847 San Felipe, Suite 320
Houston, Texas 77057
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Item 2(c) Citizenship:
Redstone Group, Ltd. is a Texas limited partnership. Redstone,
Inc. is a Texas corporation. Messrs. Solomon and Shindeldecker
are each citizens of the United States of America.
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Item 2(d) Title of Class of Securities:
Common Stock, $0.01 par value
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Item 2(e) CUSIP Number:
335944 10 4
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Item 3 If this statement is filed pursuant to Rules 13d-1(b), or
13d-2(b) or (c), check whether the person filing is a:
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CUSIP No. 335944 10 4 Page 7 of 11
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(a) [ ] Broker or Dealer registered under
Section 15 of the Act.
(b) [ ] Bank as defined in Section 3(a)(6)
of the Act.
(c) [ ] Insurance Company as defined in
Section 3(a)(19) of the Act.
(d) [ ] Investment Company registered under
Section 8 of the Investment Company Act.
(e) [ ] An investment adviser in accordance
with Rule 13d-1(b)(1)(ii)(D);
(f) [ ] An employee benefit plan endowment
fund in accordance with Rule 13d-
1(b)(1)(ii)(F);
(g) [ ] A parent holding company or control
person in accordance with Rule 13d-
1(b)(ii)(G);
(h) [ ] A savings association as defined in
Section 3(b) of the Federal Deposit
Insurance Act;
(i) [ ] A church plan that is excluded from
the definition of an investment
company under Section 3(c)(14) of
the Investment Company Act;
(j) [ ] Group, in accordance with Rule
13d-1(b)(1)(ii)(J).
If this statement is filed pursuant to Rule 13d-1(c),
check this box. [ ]
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Item 4(a) Amounts Beneficially Owned:
<TABLE>
<S> <C>
Redstone Group, Ltd. 1,423,151
Redstone, Inc. 1,423,151
David L. Solomon 2,135,000
David C. Shindeldecker 1,528,018
</TABLE>
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CUSIP No. 335944 10 4 Page 8 of 11
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Item 4(b) Percent of Class:
<TABLE>
<S> <C>
Redstone Group, Ltd. 12.38%
Redstone, Inc. 12.38%
David L. Solomon 18.56%
David C. Shindeldecker 13.30%
</TABLE>
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Item 4(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote:
<TABLE>
<S> <C>
Redstone Group, Ltd. 1,423,151
Redstone, Inc. 1,423,151
David L. Solomon 711,849
David C. Shindeldecker 104,867
</TABLE>
(ii) shared power to vote or to direct the vote:
<TABLE>
<S> <C>
Redstone Group, Ltd. 1,423,151
Redstone, Inc. 1,423,151
David L. Solomon 2,135,000
David C. Shindeldecker 1,528,018
</TABLE>
(iii) sole power to dispose or to direct the
disposition of:
<TABLE>
<S> <C>
Redstone Group, Ltd. 1,423,151
Redstone, Inc. 1,423,151
David L. Solomon 711,849
David C. Shindeldecker 104,867
</TABLE>
(iv) shared power to dispose or to direct the disposition
of :
<TABLE>
<S> <C>
Redstone Group, Ltd. 1,423,151
Redstone, Inc. 1,423,151
David L. Solomon 2,135,000
David C. Shindeldecker 1,528,018
</TABLE>
Item 5 Ownership of Five Percent or Less of a Class:
If this statement is being filed to report the fact that as of
the date hereof the reporting person has ceased to be the
beneficial owner of more than five percent of the class of
securities, check the following: [ ]
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CUSIP No. 335944 10 4 Page 9 of 11
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Item 6 Ownership of More than Five Percent on Behalf of Another
Person:
Not Applicable
Item 7 Identification and Classification of the Subsidiary Which
Acquired the Security Being Reported on by the Parent Holding
Company:
Not Applicable
Item 8 Identification and Classification of Members of the Group:
Not Applicable
Item 9 Notice of Dissolution of Group:
Not Applicable
Item 10 Certification:
By signing below each of the reporting persons certify that,
to the best of my knowledge and belief the securities referred
to above were acquired in the ordinary course of business and
were not acquired for the purpose of and do not have the
effect of changing or influencing the control of the issuer of
such securities and were not acquired in connection with or as
a participant in any transaction having such purpose or
effect.
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.
Dated: April 3, 1998
REDSTONE GROUP, LTD.
By: Redstone, Inc., General Partner
By: /s/Ivana Shumberg
-------------------------------
Ivana Shumberg
Executive Vice President
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CUSIP No. 335944 10 4 Page 10 of 11
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REDSTONE, INC.
By: /s/ IVANA SHUMBERG
-----------------------------------
Ivana Shumberg
Executive Vice President
By: /s/ DAVID L. SOLOMON
----------------------------------
David L. Solomon
By: /s/ DAVID C. SHINDELDECKER
----------------------------------
David C. Shindeldecker
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CUSIP No. 335944 10 4 Page 11 of 11
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JOINT FILING AGREEMENT
PURSUANT TO RULE 13d-1(k)(1)
The undersigned acknowledge and agree that the foregoing statement on
Schedule 13G is filed on behalf of each of the undersigned and that all
subsequent amendments to this statement on Schedule 13G shall be filed on
behalf of each of the undersigned without the necessity of filing additional
joint filing agreements. The undersigned acknowledge that each shall be
responsible for the timely filing of such amendments, and for the completeness
and accuracy of the information concerning it contained therein, but shall not
be responsible for the completeness and accuracy of the information concerning
the others, except to the extent that it knows or has reason to believe that
such information is inaccurate. This Agreement may be executed in any number
of counterparts and all of such counterparts taken together shall constitute
one and the same instrument.
Date: April 3, 1998
REDSTONE GROUP, LTD.
By: Redstone, Inc., General Partner
By: /S/ IVANA SHUMBERG
------------------------------
Ivana Shumberg
Executive Vice President
REDSTONE, INC.
By: /s/ IVANA SHUMBERG
-----------------------------------
Ivana Shumberg
Executive Vice President
By: /s/ DAVID L. SOLOMON
------------------------------------
David L. Solomon
By: /s/ DAVID C. SHINDELDECKER
----------------------------------
David C. Shindeldecker
