UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
Alaska Communications Systems Group, Inc.
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(Name of Issuer)
Common Stock, $0.01 Par Value Per Share
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(Title of Class of Securities)
01167P 10 1
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(CUSIP Number)
November 17, 1999
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(Date of Event Which Requires Filing of this Statement)
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)
Page 1 of 20 pages
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- -----------------------------
CUSIP No. 01167P 10 1 13G
- ------------------------------
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1. Name of Reporting Person
I.R.S. Identification No. of Above Person (Entities Only)
Fox Paine & Company, LLC
- --------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [_]
(b) [x]
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3. SEC Use Only
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4. Citizenship or Place of Organization
Delaware
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Number of 5. Sole Voting Power
Shares 0
Beneficially
Owned by -----------------------------------------------------------------
Each 6. Shared Voting Power
Reporting 16,492,802 (See Item 4(a))
Person With:
-----------------------------------------------------------------
7. Sole Dispositive Power
0
-----------------------------------------------------------------
8. Shared Dispositive Power
16,492,802 (See Item 4(a))
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9. Aggregate Amount Beneficially Owned by Each Reporting Person
16,492,802 (See Item 4(A))
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10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions)
[_]
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11. Percent of Class Represented by Amount in Row (9)
50.5% (See Item 4(a))
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12. Type of Person Reporting (See Instructions)
OO
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Page 2 of 20 pages
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CUSIP No. 01167P 10 1 13G
- ------------------------------
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1. Name of Reporting Person
I.R.S. Identification No. of Above Person (Entities Only)
Fox Paine Capital Fund, L.P.
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [_]
(b) [x]
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3. SEC Use Only
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4. Citizenship or Place of Organization
Delaware
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Number of 5. Sole Voting Power
Shares 0
Beneficially
Owned by -----------------------------------------------------------------
Each 6. Shared Voting Power
Reporting 16,251,658 (See Item 4(a))
Person With:
-----------------------------------------------------------------
7. Sole Dispositive Power
0
-----------------------------------------------------------------
8. Shared Dispositive Power
16,251,658 (See Item 4(a))
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9. Aggregate Amount Beneficially Owned by Each Reporting Person
16,251,658 (See Item 4(a))
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10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions)
[_]
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11. Percent of Class Represented by Amount in Row (9)
49.8% (See Item 4(a))
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12. Type of Person Reporting (See Instructions)
PN
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Page 3 of 20 pages
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CUSIP No. 01167P 10 1 13G
- ------------------------------
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1. Name of Reporting Person
I.R.S. Identification No. of Above Person (Entities Only)
Fox Paine Capital, LLC
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [_]
(b) [x]
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3. SEC Use Only
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4. Citizenship or Place of Organization
Delaware
- --------------------------------------------------------------------------------
Number of 5. Sole Voting Power
Shares 0
Beneficially
Owned by -----------------------------------------------------------------
Each 6. Shared Voting Power
Reporting 19,555,751 (See Item 4(a))
Person With:
-----------------------------------------------------------------
7. Sole Dispositive Power
0
-----------------------------------------------------------------
8. Shared Dispositive Power
19,555,751 (See Item 4(a))
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9. Aggregate Amount Beneficially Owned by Each Reporting Person
19,555,751 (See Item 4(a))
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10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions)
[_]
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11. Percent of Class Represented by Amount in Row (9)
59.9% (See Item 4(a))
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12. Type of Person Reporting (See Instructions)
OO
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Page 4 of 20 pages
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CUSIP No. 01167P 10 1 13G
- ------------------------------
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1. Name of Reporting Person
I.R.S. Identification No. of Above Person (Entities Only)
FPC Investors, L.P.
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [_]
(b) [x]
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3. SEC Use Only
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4. Citizenship or Place of Organization
Delaware
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Number of 5. Sole Voting Power
Shares 0
Beneficially
Owned by -----------------------------------------------------------------
Each 6. Shared Voting Power
Reporting 241,144 (See Item 4(a))
Person With:
-----------------------------------------------------------------
7. Sole Dispositive Power
0
-----------------------------------------------------------------
8. Shared Dispositive Power
241,144 (See Item 4(a))
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9. Aggregate Amount Beneficially Owned by Each Reporting Person
241,144 (See Item 4(a))
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10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions)
[_]
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11. Percent of Class Represented by Amount in Row (9)
0.7% (See Item 4(a))
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12. Type of Person Reporting (See Instructions)
PN
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Page 5 of 20 pages
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- -----------------------------
CUSIP No. 01167P 10 1 13G
- ------------------------------
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1. Name of Reporting Person
I.R.S. Identification No. of Above Person (Entities Only)
ALEC Coinvestment Fund I, LLC
- --------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [_]
(b) [x]
- --------------------------------------------------------------------------------
3. SEC Use Only
- --------------------------------------------------------------------------------
4. Citizenship or Place of Organization
Delaware
- --------------------------------------------------------------------------------
Number of 5. Sole Voting Power
Shares 0
Beneficially
Owned by -----------------------------------------------------------------
Each 6. Shared Voting Power
Reporting 812,453 (See Item 4(a))
Person With:
-----------------------------------------------------------------
7. Sole Dispositive Power
0
-----------------------------------------------------------------
8. Shared Dispositive Power
812,453 (See Item 4(a))
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9. Aggregate Amount Beneficially Owned by Each Reporting Person
812,453 (See Item 4(a))
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10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions)
[_]
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11. Percent of Class Represented by Amount in Row (9)
2.5% (See Item 4(a))
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12. Type of Person Reporting (See Instructions)
OO
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Page 6 of 20 pages
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- -----------------------------
CUSIP No. 01167P 10 1 13G
- ------------------------------
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1. Name of Reporting Person
I.R.S. Identification No. of Above Person (Entities Only)
ALEC Coinvestment Fund II, LLC
- --------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [_]
(b) [x]
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3. SEC Use Only
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4. Citizenship or Place of Organization
Delaware
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Number of 5. Sole Voting Power
Shares 0
Beneficially
Owned by -----------------------------------------------------------------
Each 6. Shared Voting Power
Reporting 406,227 (See Item 4(a))
Person With:
-----------------------------------------------------------------
7. Sole Dispositive Power
0
-----------------------------------------------------------------
8. Shared Dispositive Power
406,227 (See Item 4(a))
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9. Aggregate Amount Beneficially Owned by Each Reporting Person
406,227 (See Item 4(a))
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10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions)
[_]
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11. Percent of Class Represented by Amount in Row (9)
1.2% (See Item 4(a))
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12. Type of Person Reporting (See Instructions)
OO
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Page 7 of 20 pages
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- -----------------------------
CUSIP No. 01167P 10 1 13G
- ------------------------------
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1. Name of Reporting Person
I.R.S. Identification No. of Above Person (Entities Only)
ALEC Coinvestment Fund III, LLC
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2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [_]
(b) [x]
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3. SEC Use Only
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4. Citizenship or Place of Organization
Delaware
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Number of 5. Sole Voting Power
Shares 0
Beneficially
Owned by -----------------------------------------------------------------
Each 6. Shared Voting Power
Reporting 487,472 (See Item 4(a))
Person With:
-----------------------------------------------------------------
7. Sole Dispositive Power
0
-----------------------------------------------------------------
8. Shared Dispositive Power
487,472 (See Item 4(a))
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9. Aggregate Amount Beneficially Owned by Each Reporting Person
487,472 (See Item 4(a))
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10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions)
[_]
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11. Percent of Class Represented by Amount in Row (9)
1.5% (See Item 4(a))
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12. Type of Person Reporting (See Instructions)
OO
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Page 8 of 20 pages
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CUSIP No. 01167P 10 1 13G
- ------------------------------
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1. Name of Reporting Person
I.R.S. Identification No. of Above Person (Entities Only)
ALEC Coinvestment Fund IV, LLC
- --------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [_]
(b) [x]
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3. SEC Use Only
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4. Citizenship or Place of Organization
Delaware
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Number of 5. Sole Voting Power
Shares 0
Beneficially
Owned by -----------------------------------------------------------------
Each 6. Shared Voting Power
Reporting 487,472 (See Item 4(a))
Person With:
-----------------------------------------------------------------
7. Sole Dispositive Power
0
-----------------------------------------------------------------
8. Shared Dispositive Power
487,472 (See Item 4(a))
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9. Aggregate Amount Beneficially Owned by Each Reporting Person
487,472 (See Item 4(a))
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10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions)
[_]
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11. Percent of Class Represented by Amount in Row (9)
1.5% (See Item 4(a))
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12. Type of Person Reporting (See Instructions)
OO
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Page 9 of 20 pages
<PAGE>
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CUSIP No. 01167P 10 1 13G
- ------------------------------
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1. Name of Reporting Person
I.R.S. Identification No. of Above Person (Entities Only)
ALEC Coinvestment Fund V, LC
- --------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [_]
(b) [x]
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3. SEC Use Only
- --------------------------------------------------------------------------------
4. Citizenship or Place of Organization
Delaware
- --------------------------------------------------------------------------------
Number of 5. Sole Voting Power
Shares 0
Beneficially
Owned by -----------------------------------------------------------------
Each 6. Shared Voting Power
Reporting 812,453 (See Item 4(a))
Person With:
-----------------------------------------------------------------
7. Sole Dispositive Power
0
-----------------------------------------------------------------
8. Shared Dispositive Power
812,453 (See Item 4(a))
- --------------------------------------------------------------------------------
9. Aggregate Amount Beneficially Owned by Each Reporting Person
812,453 (See Item 4(a))
- --------------------------------------------------------------------------------
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions)
[_]
- --------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row (9)
2.5% (See Item 4(a))
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12. Type of Person Reporting (See Instructions)
OO
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Page 10 of 20 pages
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CUSIP No. 01167P 10 1 13G
- ------------------------------
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1. Name of Reporting Person
I.R.S. Identification No. of Above Person (Entities Only)
ALEC Coinvestment Fund VI, LLC
- --------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group (See Instructions)
(a) [_]
(b) [x]
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3. SEC Use Only
- --------------------------------------------------------------------------------
4. Citizenship or Place of Organization
Delaware
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Number of 5. Sole Voting Power
Shares 0
Beneficially
Owned by -----------------------------------------------------------------
Each 6. Shared Voting Power
Reporting 56,872 (See Item 4(a))
Person With:
-----------------------------------------------------------------
7. Sole Dispositive Power
0
-----------------------------------------------------------------
8. Shared Dispositive Power
56,872 (See Item 4(a))
- --------------------------------------------------------------------------------
9. Aggregate Amount Beneficially Owned by Each Reporting Person
56,872 (See Item 4(a))
- --------------------------------------------------------------------------------
10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See
Instructions)
[_]
- --------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row (9)
0.2% (See Item 4(a))
- --------------------------------------------------------------------------------
12. Type of Person Reporting (See Instructions)
OO
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Page 11 of 20 pages
<PAGE>
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Item 1(a). Name of Issuer:
Alaska Communications Systems Group, Inc.
Item 1(b). Address of Issuer's Principal Executive Offices:
510 L. Street
Anchorage, Alaska 99501
Item 2(a). Name of Person Filing:*
Fox Paine & Company, LLC
Fox Paine Capital Fund, L.P.
Fox Paine Capital, LLC
FPC Investors, L.P.
ALEC Coinvestment Fund I, LLC
ALEC Coinvestment Fund II, LLC
ALEC Coinvestment Fund III, LLC
ALEC Coinvestment Fund IV, LLC
ALEC Coinvestment Fund V, LLC
ALEC Coinvestment Fund VI, LLC
(*) A joint filing agreement is attached hereto as Exhibit 1.
Item 2(b). Address of Principal Business Office or, if none, Residence:
c/o Fox Paine & Company, LLC
950 Tower Lane
Suite 1150
Foster City, CA 94404-2131
Item 2(c). Citizenship:
Delaware
Item 2(d). Title of Class of Securities:
Common Stock, $0.01 par value per share
Item 2(e). CUSIP Number:
01167P 10 1
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 (15 U.S.C.
78o).
(b). [_] Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c).
(c). [_] Insurance company as defined in Section 3(a)(19) of the
Act (15 U.S.C. 78c).
(d). [_] Investment company registered under Section 8 of the
Investment
Page 12 of 20 pages
<PAGE>
Company Act of 1940 (15 U.S.C. 80a-8).
(e). [_] An investment adviser in accordance with Section 240.13d-1(b)(1)
(ii)(E);
(f). [_] An employee benefit plan or endowment fund in accordance with
Section 240.13d-1(b)(1)(ii)(F);
(g). [_] A parent holding company or control person in accordance with
Section 240.13d-1(b)(1)(ii)(G);
(h). [_] A savings association as defined in Section 3(b) of the
Federal Deposit Insurance Act (12 U.S.C. 1813);
(i). [_] A church plan that is excluded from the definition of an
investment company under Section 3(c)(14) of the Investment
Company Act of 1940 (15 U.S.C. 80a-3);
(j). [_] Group, in accordance with Section 240.13d-1(b)(1)(ii)(J).
Not Applicable
Item 4. Ownership.
(a). Amount beneficially owned:
Fox Paine & Company, LLC ("Company LLC") is the manager of
(i) Fox Paine Capital Fund, L.P. ("LP1"), which may be deemed to
own beneficially and directly 16,251,658 shares, or approximately
49.8%, of Common Stock of Alaska Communications Systems Group,
Inc. (the "Issuer") and (ii) FPC Investors, L.P. ("LP2" and,
together with LP1, the "LPs"), which may be deemed to own
beneficially and directly 241,144 shares, or approximately 0.7%,
of Common Stock of the Issuer. Fox Paine Capital, LLC ("Capital
LLC") is the General Partner of each of the LPs and the Managing
Member of each of ALEC Coinvestment Fund I, LLC, ALEC
Coinvestment Fund II, LLC, ALEC Coinvestment Fund III, LLC, ALEC
Coinvestment Fund IV, LLC, ALEC Coinvestment Fund V, LLC and ALEC
Coinvestment Fund VI, LLC (collectively, the "Funds"), which
Funds in the aggregate may be deemed to own beneficially and
directly 3,062,949 shares, or approximately 9.4%, of Common Stock
of the Issuer (812,453 shares, or approximately 2.5%, owned by
ALEC Coinvestment Fund I, LLC, 406,227 shares, or approximately
1.2%, owned by ALEC Coinvestment Fund II, LLC, 487,472 shares, or
approximately 1.5%, owned by ALEC Coinvestment Fund III, LLC,
487,472 shares, or approximately 1.5%, owned by ALEC Coinvestment
Fund IV, LLC, 812,453 shares, or approximately 2.5%, owned by
ALEC Coinvestment Fund V, LLC, and 56,872, or approximately 0.2%,
owned by ALEC
Page 13 of 20 pages
<PAGE>
Coinvestment Fund VI, LLC).
Company LLC, as the manager of the LPs, may be deemed to be
the indirect beneficial owner in the aggregate of 16,492,802
shares, or approximately 50.5%, of the Common Stock of the Issuer
owned by the LPs, and Capital LLC, as the General Partner of the
LPs and Managing Member of the Funds, may be deemed to be the
indirect beneficial owner in the aggregate of 19,555,751 shares,
or approximately 59.9%, of the Common Stock of the Issuer owned
by the LPs and the Funds. Each of Company LLC and Capital LLC
disclaims ownership of the shares of Common Stock beneficially
owned by the LPs and the Funds to the extent of the partnership
or limited liability company interests in the LPs and the Funds
held by persons other than Company LLC and Capital LLC,
respectively.
Saul A. Fox and W. Dexter Paine, III are the sole members of
Company LLC and members of Capital LLC. In such capacities, Mr.
Fox and Mr. Paine may be deemed to share beneficial ownership of
the Common Stock beneficially owned by Company LLC and Capital
LLC, but they disclaim any such beneficial ownership.
(b). Percent of Class:
See the response(s) to Item 11 on the attached
cover page(s). See Item 4(a).
(c). Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote: See the
response(s) to Item 5 on the attached cover
page(s).
(ii) Shared power to vote or to direct the vote: See
the response(s) to Item 6 on the attached cover
page(s).
(iii) Sole power to dispose or to direct the
disposition of: See the response(s) to Item 7 on
the attached cover page(s).
(iv) Shared power to dispose or to direct the
disposition of: See the response(s) to Item 8 on
the attached cover page(s).
Item 5. Ownership of Five Percent or Less of a Class.
Not appicable
Item 6. Ownership of More Than Five Percent on Behalf of Another Person.
Page 14 of 20 pages
<PAGE>
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.
See Item 4.
Item 9. Notice of Dissolution of Group.
Not Applicable
Item 10. Certifications.
Not Appicable
Page 15 of 20 pages
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of the undersigned's knowledge and
belief, the undersigned certify that the information set forth in this statement
is true, complete and correct.
FOX PAINE & COMPANY, LLC,
By: /s/ W. Dexter Paine, III
--------------------------------------
Name: W. Dexter Paine, III
Title: Member
FOX PAINE CAPITAL FUND, L.P.,
By: Fox Paine Capital, LLC, its
General Partner
By: /s/ W. Dexter Paine, III
--------------------------------------
Name: W. Dexter Paine, III
Title: Member
FOX PAINE CAPITAL, LLC
By: /s/ W. Dexter Paine, III
--------------------------------------
Name: W. Dexter Paine, III
Title: Member
FPC INVESTORS, L.P.,
By: Fox Paine Capital, LLC, its
General Partner
By: /s/ W. Dexter Paine, III
--------------------------------------
Name: W. Dexter Paine, III
Title: Member
ALEC COINVESTMENT FUND I, LLC,
By: Fox Paine Capital, LLC, its Manager
By: /s/ W. Dexter Paine, III
--------------------------------------
Name: W. Dexter Paine, III
Title: Member
Page 16 of 20 pages
<PAGE>
ALEC COINVESTMENT FUND II, LLC,
By: Fox Paine Capital, LLC, its Manager
By: /s/ W. Dexter Paine, III
--------------------------------------
Name: W. Dexter Paine, III
Title: Member
ALEC COINVESTMENT FUND III, LLC,
By: Fox Paine Capital, LLC, its Manager
By: /s/ W. Dexter Paine, III
--------------------------------------
Name: W. Dexter Paine, III
Title: Member
ALEC COINVESTMENT FUND IV, LLC,
By: Fox Paine Capital, LLC, its Manager
By: /s/ W. Dexter Paine, III
--------------------------------------
Name: W. Dexter Paine, III
Title: Member
ALEC COINVESTMENT FUND V, LLC,
By: Fox Paine Capital, LLC, its Manager
By: /s/ W. Dexter Paine, III
--------------------------------------
Name: W. Dexter Paine, III
Title: Member
ALEC COINVESTMENT FUND VI, LLC,
By: Fox Paine Capital, LLC, its Manager
By: /s/ W. Dexter Paine, III
--------------------------------------
Name: W. Dexter Paine, III
Title: Member
Dated: February 7, 2000
Page 17 of 20 pages
<PAGE>
EXHIBIT 1
JOINT FILING AGREEMENT
In accordance with Rule 13d-1(k)(1) promulgated under the Securities
Exchange Act of 1934, as amended, the undersigned agree to the joint filing of a
Statement on Schedule 13G (including any and all amendments thereto) (the
"Statement") with respect to the shares of Alaska Communications Systems Group,
Inc. and further agree to the filing of this agreement as an Exhibit thereto. In
addition, each party to this Agreement expressly authorizes each other party to
this Agreement to file on its behalf any and all amendments to the Statement.
Dated: February 7, 2000.
FOX PAINE & COMPANY, LLC,
By: /s/ W. Dexter Paine, III
-------------------------------------
Name: W. Dexter Paine, III
Title: Member
FOX PAINE CAPITAL FUND, L.P.,
By: Fox Paine Capital, LLC,
its General Partner
By: /s/ W. Dexter Paine, III
-------------------------------------
Name: W. Dexter Paine, III
Title: Member
FOX PAINE CAPITAL, LLC
By: /s/ W. Dexter Paine, III
-------------------------------------
Name: W. Dexter Paine, III
Title: Member
FPC INVESTORS, L.P.,
By: Fox Paine Capital, LLC,
its General Partner
By: /s/ W. Dexter Paine, III
-------------------------------------
Name: W. Dexter Paine, III
Title: Member
Page 18 of 20 pages
<PAGE>
ALEC COINVESTMENT FUND I, LLC,
By: Fox Paine Capital, LLC, its Manager
By: /s/ W. Dexter Paine, III
-------------------------------------
Name: W. Dexter Paine, III
Title: Member
ALEC COINVESTMENT FUND II, LLC,
By: Fox Paine Capital, LLC, its Manager
By: /s/ W. Dexter Paine, III
-------------------------------------
Name: W. Dexter Paine, III
Title: Member
ALEC COINVESTMENT FUND III, LLC,
By: Fox Paine Capital, LLC, its Manager
By: /s/ W. Dexter Paine, III
-------------------------------------
Name: W. Dexter Paine, III
Title: Member
ALEC COINVESTMENT FUND IV, LLC,
By: Fox Paine Capital, LLC, its Manager
By: /s/ W. Dexter Paine, III
-------------------------------------
Name: W. Dexter Paine, III
Title: Member
ALEC COINVESTMENT FUND V, LLC,
By: Fox Paine Capital, LLC, its Manager
By: /s/ W. Dexter Paine, III
-------------------------------------
Name: W. Dexter Paine, III
Title: Member
Page 19 of 20 pages
<PAGE>
ALEC COINVESTMENT FUND VI, LLC,
By: Fox Paine Capital, LLC, its Manager
By: /s/ W. Dexter Paine, III
-------------------------------------
Name: W. Dexter Paine, III
Title: Member
Page 20 of 20 pages
