UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1)
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 12
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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 1,408,151
BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY -0-
EACH 7. SOLE DISPOSITIVE POWER
REPORTING 1,408,151
PERSON 8. SHARED DISPOSITIVE POWER
WITH -0-
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,408,151
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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
9.90%
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12. TYPE OF REPORTING PERSON*
PN
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CUSIP NO. 335944 10 4 Page 3 of 12
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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 1,408,151
BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY -0-
EACH 7. SOLE DISPOSITIVE POWER
REPORTING 1,408,151
PERSON 8. SHARED DISPOSITIVE POWER
WITH -0-
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,408,151
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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
9.90%
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12. TYPE OF REPORTING PERSON*
CO
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CUSIP NO. 335944 10 4 Page 4 of 12
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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
Texas
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NUMBER OF 5. SOLE VOTING POWER
SHARES 729,849
BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY 1,408,151
EACH 7. SOLE DISPOSITIVE POWER
REPORTING 729,849
PERSON 8. SHARED DISPOSITIVE POWER
WITH 1,408,151
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,138,000
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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
15.03%
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12. TYPE OF REPORTING PERSON*
IN
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CUSIP NO. 335944 10 4 Page 5 of 12
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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
Texas
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NUMBER OF 5. SOLE VOTING POWER
SHARES 109,867
BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY 1,408,151
EACH 7. SOLE DISPOSITIVE POWER
REPORTING 109,867
PERSON 8. SHARED DISPOSITIVE POWER
WITH 1,408,151
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,518,018
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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
10.67%
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12. TYPE OF REPORTING PERSON*
IN
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CUSIP NO. 335944 10 4 Page 7 of 12
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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, Suite 7050
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 a `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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NO. 335944 10 4 Page 8 of 12
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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:
(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)()(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:
Redstone Group, Ltd. 1,408,151
Redstone, Inc. 1,408,151
David L. Solomon 2,138,000
David C. Shindeldecker 1,518,018
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Item 4(b) Percent of Class:
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CUSIP NO. 335944 10 4 Page 9 of 12
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Redstone Group, Ltd. 9.90%
Redstone, Inc. 9.90%
David L. Solomon 15.03%
David C. Shindeldecker 10.67%
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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:
Redstone Group, Ltd. 1,408,151
Redstone, Inc. 1,408,151
David L. Solomon 729,849
David C. Shindeldecker 109,867
(ii) shared power to vote or to direct the vote:
Redstone Group, Ltd. 1,408,151
Redstone, Inc. 1,408,151
David L. Solomon 1,408,151
David C. Shindeldecker 1,408,151
(iii) sole power to dispose or to direct the
disposition of:
Redstone Group, Ltd. 1,408,151
Redstone, Inc. 1,408,151
David L. Solomon 729,849
David C. Shindeldecker 109,867
(iv) shared power to dispose or to direct the
disposition of:
Redstone Group, Ltd. 1,408,151
Redstone, Inc. 1,408,151
David L. Solomon 1,408,151
David C. Shindeldecker 1,408,151
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: [ ]
Item 6 Ownership of More than Five Percent on Behalf of
Another Person:
Not applicable
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CUSIP NO. 335944 10 4 Page 10 of 12
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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.
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: February 10, 1999
REDSTONE GROUP, LTD.
By: Redstone, Inc., General Partner
By: /s/ Ivana Shumberg
Ivana Shumberg
Executive Vice President
REDSTONE, INC.
By: /s/ Ivana Shumberg
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CUSIP NO. 335944 10 4 Page 11 of 12
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Ivana Shumberg
Executive Vice President
/s/ David Solomon
David L. Solomon
/s/ David Shindeldecker
David C. Shindeldecker
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CUSIP NO. 335944 10 4 Page 12 of 12
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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 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 timeline 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: February 10, 1999
REDSTONE GROUP, LTD.
By: /s/ Ivana Shumberg
Ivana Shumberg
Executive Vice President
REDSTONE, INC.
By: /s/ Ivana Shumberg
Ivana Shumberg
Executive Vice President
/s/ David L. Solomon
DAVID L. SOLOMON
/s/ David C. Shindeldecker
DAVID C. SHINDELDECKER
