SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
THE WMF GROUP, LTD.
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(Name of Issuer)
Common Stock, $.01 par value
----------------------------
(Title of Class of Securities)
929289106
---------------
(CUSIP Number)
James M. Better Drake S. Tempest, Esq.
Capricorn Investors II, L.P. O'Melveny & Myers LLP
c/o Capricorn Holdings, LLC The Citicorp Center
30 East Elm Street 153 East 53rd Street, 54th Floor
Greenwich, Connecticut 06830 New York, New York 10022-4611
(203) 861-6600 (212) 326-2000
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
January 2, 1998
------------------------------------------------------------------
(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
[ ].
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.
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* 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).
CUSIP Number 929289106
---------
Page 1 of 8
<PAGE>
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Winokur Holdings, Inc.
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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 SOURCE OF FUNDS
OO
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5 CHECK BOX 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
Delaware
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NUMBER OF 7 SOLE VOTING POWER
SHARES ----------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 78,925
EACH REPORT- ----------------------------------
ING PERSON 9 SOLE DISPOSITIVE POWER
WITH ----------------------------------
10 SHARED DISPOSITIVE POWER
78,925
----------------------------------
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
78,925
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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)
1.6%*
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14 TYPE OF REPORTING PERSON
CO
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- ----------------
* Assumes 5,042,748 shares of Common Stock issued and outstanding
on January 6, 1998.
Page 2 of 8 Pages
<PAGE>
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Capricorn Investors II, L.P.
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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 SOURCE OF FUNDS
OO
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5 CHECK BOX 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
Delaware
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NUMBER OF 7 SOLE VOTING POWER
SHARES ----------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 697,013
EACH REPORT- ----------------------------------
ING PERSON 9 SOLE DISPOSITIVE POWER
WITH ----------------------------------
10 SHARED DISPOSITIVE POWER
697,013
----------------------------------
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
697,013
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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)
13.8%*
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14 TYPE OF REPORTING PERSON
PN
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- ----------------
* Assumes 5,042,748 shares of Common Stock issued and outstanding
on January 6, 1998.
Page 3 of 8 Pages
<PAGE>
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Capricorn Holdings, LLC
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS
OO
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5 CHECK BOX 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
Delaware
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES ----------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 697,013
EACH REPORT- ----------------------------------
ING PERSON 9 SOLE DISPOSITIVE POWER
WITH ----------------------------------
10 SHARED DISPOSITIVE POWER
697,013
----------------------------------
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
697,013
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13.8%*
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14 TYPE OF REPORTING PERSON
OO
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- ----------------
* Assumes 5,042,748 shares of Common Stock issued and outstanding on
January 6, 1998.
Page 4 of 8 Pages
<PAGE>
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Herbert S. Winokur, Jr.
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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 SOURCE OF FUNDS
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5 CHECK BOX 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
United States of America
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NUMBER OF 7 SOLE VOTING POWER
SHARES ----------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 775,938
EACH REPORT- ----------------------------------
ING PERSON 9 SOLE DISPOSITIVE POWER
WITH ----------------------------------
10 SHARED DISPOSITIVE POWER
775,938
----------------------------------
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
775,938
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
15.4%*
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14 TYPE OF REPORTING PERSON
IN
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* Assumes 5,042,748 shares of Common Stock issued and outstanding
on January 6, 1998.
Page 5 of 8 Pages
<PAGE>
This Amendment No. 1 to Schedule 13D (the "SCHEDULE 13D"), which was
filed on November 25, 1997, by Capricorn Investors, L.P. ("CAPRICORN I"),
Capricorn Holdings, G.P. ("CAPRICORN HOLDINGS, G.P."), Winokur Holdings, Inc.
("WINOKUR HOLDINGS"), Herbert S. Winokur, Jr. ("WINOKUR"), Capricorn Investors
II, L.P. ("CAPRICORN II") and Capricorn Holdings, LLC ("CAPRICORN HOLDINGS,
LLC"), and which relates to shares of Common Stock, par value $.01 per share
("COMMON STOCK"), of The WMF Group, Ltd. (the "COMPANY"), hereby amends Items 3,
4 and 5 of the Schedule 13D. Unless otherwise indicated, all capitalized terms
used but not defined herein shall have the same meaning as set forth in the
Schedule 13D.
This Amendment No. 1 reflects the belief of each of Winokur Holdings,
Winokur, Capricorn II and Capricorn Holdings, LLC that, after giving effect to
the issuance of shares pursuant to certain options exercised on or before
January 6, 1998, the number of shares of Common Stock outstanding on January 6,
1998, was 5,042,748 shares. The belief of each of Winokur Holdings, Winokur,
Capricorn II and Capricorn Holdings, LLC with respect to the number of
outstanding shares of Common Stock is based on information provided to such
persons by the Company on January 6, 1998.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
The information previously furnished in response to this item is
amended to read as follows:
Capricorn I acquired 421,844 shares of Common Stock in the Share
Distribution without the payment of any consideration.
Capricorn II purchased 546,448 shares of Common Stock at a purchase
price of $9.15 per share, or $5,000,000 in the aggregate. The funds were
provided by capital contributed to Capricorn II by its partners.
On January 2, 1998, Capricorn II purchased 60,000 shares of Common
Stock in a transaction effected through the NASDAQ national market at a purchase
price of $13.00 per share, or $780,000 in the aggregate. The funds were provided
by capital contributed to Capricorn II by its partners.
On January 5, 1998, Capricorn II purchased 52,535 shares of Common
Stock in a transaction effected through the NASDAQ national market at a purchase
price of $13.375 per share, or $702,656 in the aggregate. The funds were
provided by capital contributed to Capricorn II by its partners.
Page 6 of 8 Pages
<PAGE>
On January 5, 1998, Capricorn II purchased 13,030 shares of Common
Stock in a transaction effected through the NASDAQ national market at a purchase
price of $13.375 per share, or $174,276 in the aggregate. The funds were
provided by capital contributed to Capricorn II by its partners.
On January 5, 1998, Capricorn II purchased 25,000 shares of Common
Stock in a transaction effected through the NASDAQ national market at a purchase
price of $13.375 per share, or $334,375 in the aggregate. The funds were
provided by capital contributed to Capricorn II by its partners.
ITEM 4. PURPOSE OF TRANSACTION
The information previously furnished in response to this item is
amended to read as follows:
Capricorn I acquired 421,844 shares of Common Stock in the Share
Distribution on December 8, 1997. It distributed all such shares to its partners
on December 22, 1997. Winokur Holdings, as a general partner of Capricorn
Holdings, G.P., which is the general partner of Capricorn I, received 78,925
shares of Common Stock in such distribution.
Pursuant to the Purchase Agreement, Capricorn II acquired 546,448
shares of Common Stock at a purchase price of $9.15 per share, or $5,000,000 in
the aggregate (the "ACQUISITION"). Capricorn II paid the aggregate purchase
price in cash and the closing of the Acquisition occurred on December 8, 1997,
promptly following the consummation of the Share Distribution and prior to the
distribution by Capricorn I to its partners of the shares of Common Stock
acquired by Capricorn I in the Share Distribution.
At the closing of the Acquisition on December 8, 1997, (the "CLOSING
DATE"), the Company and Capricorn II entered into the Registration Rights
Agreement pursuant to which, among other things, Capricorn II will have the
right on one or more occasions (subject to certain exceptions, up to a maximum
of seven times) to cause the Company, on or after the Closing Date and to and
including the date that is the fourth anniversary of the Closing Date, to
register under the Securities Act of 1933, as amended, the sale by Capricorn II
of the shares of Common Stock purchased by Capricorn II in the Acquisition.
Winokur was elected as a director of the Company effective on December
8, 1997.
Page 7 of 8 Pages
<PAGE>
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
Winokur Holdings is the direct beneficial owner, and Winokur is the
indirect beneficial owner, of 78,925 shares of Common Stock. Capricorn II is the
direct beneficial owner, and Capricorn Holdings, LLC and Winokur are the
indirect beneficial owners, of 697,013 shares of Common Stock. Winokur is the
indirect beneficial owner of 775,938 shares of Common Stock. Based upon the
number of shares of Common Stock that Winokur Holdings, Capricorn II, Capricorn
Holdings, LLC and Winokur believe were issued and outstanding on January 6,
1998, determined after giving effect to the issuance of shares pursuant to
certain options exercised on or before January 6, 1998, Winokur Holdings is the
direct beneficial owner of shares equal to approximately 1.6% of the number of
shares of Common Stock that were then outstanding, Capricorn II is the direct
beneficial owner of shares equal to approximately 13.8% of the number of shares
of Common Stock that were then outstanding, Capricorn Holdings, LLC is the
indirect beneficial owner of shares equal to approximately 13.8% of the number
of shares of Common Stock that were then outstanding and Winokur is the indirect
beneficial owner of shares equal to approximately 15.4% of the number of shares
of Common Stock that were then outstanding.
Winokur Holdings and Winokur, on the one part, and Capricorn II,
Capricorn Holdings, LLC and Winokur, on the other part, may be deemed to share
the power to vote and direct the disposition of the shares of Common Stock
acquired in (x) the distribution by Capricorn I to Winokur Holdings of 78,925 of
the shares of Common Stock acquired by Capricorn I in the Share Distribution and
(y) the Acquisition and the acquisitions of shares of Common Stock effected by
Capricorn II on January 2, 1998 and January 5, 1998.
Page 8 of 8 Pages
<PAGE>
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.
January 9, 1998
Date
WINOKUR HOLDINGS, INC.
By: /s/ HERBERT S. WINOKUR, JR.
-----------------------------------
Herbert S. Winokur, Jr., President
S-1
<PAGE>
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.
January 9, 1998
Date
CAPRICORN INVESTORS II, L.P.
By: Capricorn Holdings, LLC,
its General Partner
By: /s/ HERBERT S. WINOKUR, JR.
-------------------------------------
Herbert S. Winokur, Jr., Manager
S-2
<PAGE>
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.
January 9, 1998
Date
CAPRICORN HOLDINGS, LLC
By: /s/ HERBERT S. WINOKUR, JR.
---------------------------------
Herbert S. Winokur, Jr., Manager
S-3
<PAGE>
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.
January 9, 1998
Date
By: /s/ HERBERT S. WINOKUR, JR.
------------------------------
Herbert S. Winokur, Jr.
S-4
