SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
Jeremy's Microbatch Ice Creams, Inc.
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(Name of Issuer)
Common Stock, $.01 par value
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(Title of Class of Securities)
645 113 100
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(CUSIP Number)
Sandra Horst
122 S. Phillips Avenue
Suite 300
Sioux Falls, S.D. 57104
(605) 331-0091
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
July 14, 2000
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(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(e), 13d-1(f) or 13d-1(g), check the following
box [_]
NOTE: Schedules filed in paper format shall include the signed original and
five copies of the Schedule, , including all exhibits. See Rule 13d-7 for
other parties to whom copies are to be sent.
*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).
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CUSIP NO. 645 113 100
1. NAMES AND I.R.S. IDENTIFICATION NO. OF REPORTING PERSONS
Bluestem Capital Partners II Limited Partnership 46-0446837
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ] - BOX NOT CHECKED
(b) [ ] - BOX NOT CHECKED
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3. SEC USE ONLY
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4. SOURCE OF FUNDS (See Instructions)
WC
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5. CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 3(d)
OR 2(e).
Not Applicable
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6. CITIZENSHIP OR PLACE OF ORGANIZATION
USA (South Dakota)
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NUMBER OF SHARES |7. SOLE VOTING POWER: 1,759,882 SHARES
BENEFICIALLY OWNED BY |---------------------------------------------------------
EACH REPORTING PERSON |8. SHARED VOTING POWER: -0-
WITH: |---------------------------------------------------------
|9. SOLE DISPOSITIVE POWER: 1,759,882 SHARES
|---------------------------------------------------------
|10. SHARED DISPOSITIVE POWER: -0-
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON:
1,759,882 SHARES OF COMMON STOCK
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12. CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(See Instructions)
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
55%
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14.TYPE OF REPORTING PERSON (See Instructions)
PN
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ITEM 1. SECURITY AND ISSUER.
This statement on Schedule 13D (this "Statement") relates to the
common stock, $.01 par value (the "Common Stock") of Jeremy's Microbatch Ice
Creams, Inc., 3401 Market Street, Suite 312, Philadelphia, PA 19104.
ITEM 2. IDENTITY AND BACKGROUND.
(a) - (b) The person filing this statement is Bluestem Capital
Company II Limited Partnership, a South Dakota Limited
Partnership ("Bluestem"). Its address is:
122 S. Phillips Avenue
Suite 300
Sioux Falls, S.D. 57104
(c) The filer is a Small Business Investment Company with a
A principal address at:
122 S. Phillips Avenue
Suite 300
Sioux Falls, South Dakota 57104
(d) None
(e) None
(f) South Dakota
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
Source of Funds ($500,000) for this acquisition was capital previously
invested by Bluestem's partners for the purpose of making investments,
but not this investment specifically.
ITEM 4. PURPOSE OF TRANSACTION.
The purpose of the transaction was to provide funds to the issuer.
Bluestem may purchase additional shares for this purpose. The issuer
proposed to sell, and Bluestem has proposed to purchase, up to an
additional 380,000 shares, for purposes of providing funds to the
issuer. No firm agreements have been entered into with respect to the
additional shares.
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ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
Bluestem's interests in securities of the issuer as of the date of
this Statement are as follows:
(a) Common Stock:
1,759,882 shares owned directly
(b) Bluestem has the sole power to vote and dispose of 1,759,882
shares owned directly, and will have sole power to vote and dispose of all
shares issuable upon the exercise of options.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS
WITH RESPECT TO SECURITIES OF THE ISSUER.
None.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
None.
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.
Bluestem Capital Partners II, L.P.
/s/ Sandy Horst
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Title Chief Financial Officer
of General Partner
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Dated July 19, 2000
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