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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
(Amendment No. 1)
Under the Securities Exchange Act of 1934
THE COBALT GROUP, INC.
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(Name of Issuer)
Common Shares, $0.01 Par Value
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(Title of Class of Securities)
19074Q 10 3
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(CUSIP Number of Class of Securities)
Stephen Distler
E.M. Warburg, Pincus & Co., LLC
466 Lexington Avenue
New York, New York 10017
(212) 878-0600
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
Copies to:
Steven J. Gartner, Esq.
Willkie Farr & Gallagher
787 Seventh Avenue
New York, NY 10019-6099
(212) 728-8000
October 31, 2000
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(Date of Event which Requires
Filing of this Schedule)
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 ss.ss. 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g),
check the following: [ ]
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SCHEDULE 13D
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CUSIP No. 19074Q 10 3 Page 2 of 8 Pages
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1 NAME OF REPORT PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Warburg, Pincus Equity Partners, L.P. I.D. #13-3986317
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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7 SOLE VOTING POWER
9,582,458
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NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY
OWNED BY EACH --------- ---------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON WITH
9,582,458
--------- ---------------------------------------------
10 SHARED DISPOSITIVE POWER
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
9,582,458
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
46.6%
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14 TYPE OF REPORTING PERSON*
PN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE,
RESPONSES TO ITEMS 1-7 (INCLUDING EXHIBITS) OF
THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
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SCHEDULE 13D
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CUSIP No. 19074Q 10 3 Page 3 of 8 Pages
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1 NAME OF REPORT PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Warburg, Pincus & Co. I.D. #13-6358475
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
N/A
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
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7 SOLE VOTING POWER
9,582,458
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NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY
OWNED BY EACH --------- ---------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON WITH
9,582,458
--------- ---------------------------------------------
10 SHARED DISPOSITIVE POWER
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
9,582,458
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
46.6%
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14 TYPE OF REPORTING PERSON*
PN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE,
RESPONSES TO ITEMS 1-7 (INCLUDING EXHIBITS) OF
THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
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SCHEDULE 13D
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CUSIP No. 19074Q 10 3 Page 4 of 8 Pages
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1 NAME OF REPORT PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
E.M. Warburg, Pincus & Co., LLC I.D. #13-3536050
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
N/A
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
--------------------- --------- ---------------------------------------------
7 SOLE VOTING POWER
9,582,458
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NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY
OWNED BY --------- ---------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON WITH 9,582,458
--------- ---------------------------------------------
10 SHARED DISPOSITIVE POWER
---------- ------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
9,582,458
---------- ------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
---------- ------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
46.6%
---------- ------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE,
RESPONSES TO ITEMS 1-7 (INCLUDING EXHIBITS) OF
THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
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This Amendment No. 1 to Schedule 13D is being filed on behalf of Warburg,
Pincus Equity Partners, L.P., a Delaware limited partnership (together with
three affiliated entities "WPEP"), Warburg, Pincus & Co., a New York general
partnership ("WP"), and E.M. Warburg, Pincus & Co., LLC, a New York limited
liability company ("EMW" and, together with WPEP and WP, the "Reporting
Entities"). This Amendment No. 1 to Schedule 13D relates to the Common Stock of
The Cobalt Group, Inc., a Washington corporation (the "Company"). Capitalized
terms used in this Amendment No. 1 to Schedule 13D but not otherwise defined
have the meanings ascribed to them in Schedule 13D filed on July 7, 2000.
Item 3. Source and Amount of Funds or Other Consideration.
Item 3 is amended by inserting the following paragraph after the first
paragraph thereof:
WPEP has expended an aggregate of $9,252,597 to purchase the 1,401,873
shares of Common Stock that it has purchased since the filing of Schedule 13D.
Such funds were furnished from the working capital of WPEP.
Item 4. Purpose of Transaction.
Item 4 is amended by inserting the following two paragraphs after the
second paragraph thereof:
On October 9, 2000 the Company exercised its option under the Securities
Purchase Agreement to cause WPEP and the other investors that are party to that
agreement to purchase an aggregate of 2,187,289 shares of Common Stock from the
Company at $6.8578 per share. WPEP and the other investors had entered into the
Securities Purchase Agreement with the Company on June 26, 2000. On October 31,
2000, WPEP and the other investors purchased from the Company the shares that
were
5
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subject to that option, with WPEP purchasing 1,312,373 shares of Common
Stock. In consideration for granting that option to the Company, WPEP and the
other investors had received warrants from the Company, exercisable until June
26, 2005, to purchase shares of Common Stock at a purchase price of $6.8578 per
share. The warrants granted to WPEP were warrants to purchase 416,390 shares of
Common Stock.
As reported below in Item 5(c), WPEP has also engaged in open market
purchases of Common Stock. The Reporting Entities may from time to time acquire
additional shares of Common Stock. The Reporting Entities continue to believe
that the Company represents an attractive investment, particularly at current
market prices.
Item 5. Interest in Securities of the Issuer.
Items 5(a) through 5(c) are revised and amended in their entirety as follows:
(a) As of November 1, 2000 WPEP, WP and EMW each beneficially owned
9,582,458 shares of Common Stock. By reason of their respective relationships
with WPEP, each of the Reporting Entities may be deemed under Rule 13d-3 under
the Exchange Act to own beneficially all of the shares of Common Stock which
WPEP beneficially owns.
The 9,582,458 shares of Common Stock represented approximately 46.6% of the
outstanding shares of Common Stock, based on the 20,575,862 shares of Common
Stock outstanding as of close of business on October 31, 2000, as reported by
the Company to the Reporting Entities.
(b) Each of the Reporting Entities has sole power to dispose or to direct
the disposition with respect to the 9,582,458 shares and all shares acquired by
WPEP.
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(c) Except for the purchase of shares under the Securities Purchase
Agreement described in Item 4 and the open market purchases set forth on
Schedule II, during the last sixty days there were no transactions effected by
the Reporting Entities or by any of the persons set forth on Schedule I hereto.
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SIGNATURES
After reasonable inquiry and to the best of our knowledge and belief, the
undersigned certify that the information set forth in this statement is true,
complete and correct.
Dated: November 1, 2000 WARBURG, PINCUS EQUITY
PARTNERS, L.P.
By: Warburg, Pincus & Co.,
General Partner
By: /s/ Stephen Distler
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Stephen Distler
Partner
Dated: November 1, 2000 WARBURG, PINCUS & CO.
By: /s/ Stephen Distler
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Stephen Distler
Partner
Dated: November 1, 2000 E.M. WARBURG, PINCUS & CO., LLC
By: /s/ Stephen Distler
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Stephen Distler
Member
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SCHEDULE II
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OPEN MARKET PURCHASES BY WPEP OF COMMON STOCK
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Date of Purchase Number of Shares Purchased Price Per Share
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October 26, 2000 30,000 $2.65
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October 27, 2000 35,000 $2.75
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October 30, 2000 20,000 $3.12
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November 1, 2000 4,500 $3.19
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