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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1)
CDNOW, INC.
(Name of Issuer)
Common Stock,
No Par Value
(Title of Class of Securities)
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125086
(CUSIP Number)
BERTELSMANN, INC.
BINC ACQUISITION CORP.
(Names of Persons Filing Statement)
Robert J. Sorrentino
Bertelsmann, Inc.
1540 Broadway
New York, NY 10036
Tel. No.: (212) 787-1130
(Name, Address and Telephone Number of
Person Authorized to Receive Notices
and Communications)
August 23, 2000
(Date of Event which Requires Filing of
this Statement)
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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 statement because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the
following box: [ ]
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SCHEDULE 13D
CUSIP No. 125086 Page 2 of 5 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
BERTELSMANN, INC.
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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*
OO
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
DE
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7 SOLE VOTING POWER
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NUMBER OF SHARES 8 SHARED VOTING POWER
BENEFICIALLY OWNED BY EACH
REPORTING PERSON WITH 29,239,784
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9 SOLE DISPOSITIVE POWER
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10 SHARED DISPOSITIVE POWER
29,239,784
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
29,239,784
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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)
80.0%
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14 TYPE OF REPORTING PERSON*
CO
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SCHEDULE 13D
CUSIP No. 125086 Page 3 of 5 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
BINC ACQUISITION CORP.
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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
-------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
-------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
PA
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7 SOLE VOTING POWER
------------------------------------
NUMBER OF SHARES 8 SHARED VOTING POWER
BENEFICIALLY OWNED BY EACH
REPORTING PERSON WITH 29,239,784
------------------------------------
9 SOLE DISPOSITIVE POWER
------------------------------------
10 SHARED DISPOSITIVE POWER
29,239,784
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
29,239,784
-------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
-------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
80.0%
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14 TYPE OF REPORTING PERSON*
CO
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<PAGE>
This Amendment No. 1 ("Amendment No. 1") amends and supplements the
Statement on Schedule 13D (the "Schedule 13D") originally filed on July 28,
2000, by BINC Acquisition Corp., a Pennsylvania corporation ("BINC"), and
Bertelsmann, Inc., a Delaware corporation ("Bertelsmann")(Bertelsmann and BINC
together, the "Reporting Persons"), relating to the shares (the "Shares") of
Common Stock, no par value, of CDnow, Inc. (the "Issuer").
All capitalized terms used in this Amendment No. 1 without definition have
the meanings attributed to them in the Schedule 13D.
The items of the Schedule 13D set forth below are hereby amended and
supplemented as follows:
Item 4. Purpose of Transaction.
Item 4 is amended by adding the following two paragraphs immediately after
the final paragraph thereof:
The Offer expired at 12:00 midnight, New York City time, on Tuesday,
August 22, 2000 (the "Expiration Time"). Pursuant to the Offer, 25,573,117
Shares were validly tendered, representing approximately 77.7% of the
then-outstanding Shares. On August 23, 2000, BINC accepted for payment all such
tendered Shares.
On August 31, 2000, pursuant to the terms of the Convertible Loan
Agreement, Bertelsmann converted $5,500,000 of the amount outstanding under the
Convertible Loan Agreement into 3,666,667 Shares. Such Shares were issued in
the name of BINC Acquisition Corp. Such Shares, together with the Shares
accepted for payment in the Offer, represent approximately 80.0% of the total
Shares now outstanding.
Item 5. Interest in Securities of the Issuer.
Item 5 is amended by amending and restating subsections (a)(i), (a)(ii),
(b)(i) and (b)(ii) in their entirety as follows:
(a)(i) Bertelsmann has acquired and, for the purpose of Rule 13d-3
promulgated under the Exchange Act, beneficially owns 29,239,784 Shares,
representing approximately 80.0% of the outstanding Shares of the Issuer.
(a)(ii) BINC has acquired and, for purposes of Rule 13d-3 promulgated
under the Exchange Act, beneficially owns 29,239,784 Shares, representing
approximately 80.0% of the outstanding Shares of the Issuer.
Except as set forth in this Item 5(a), neither of the Reporting Persons,
nor any other person controlling any Reporting Person nor, to the best
knowledge of any Reporting Person, any persons named in Schedule A or Schedule
B to the 13D originally filed on July 28, 2000, owns beneficially any Shares.
(b)(i) Bertelsmann has shared power to vote and dispose of 29,239,784
Shares.
(b)(ii) BINC has shared power to vote and dispose of 29,239,784 Shares.
4
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SIGNATURES
After reasonable inquiry and to the best knowledge and belief of the
undersigned, the undersigned certifies that the information set forth in this
statement is true, complete and correct.
Date: September 1, 2000
BERTELSMANN, INC.
By: /s/ Jacqueline Chasey
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Name: Jacqueline Chasey
Title: Vice President
BINC ACQUISITION CORP.
By: /s/ Jacqueline Chasey
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Name: Jacqueline Chasey
Title: Vice President
