<PAGE> 1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 5)*
Cambex Corporation
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(Name of Issuer)
Common Stock, $.10 par value
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(Title of Class of Securities)
132008103
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(CUSIP Number)
Associated Capital, L.P. Margery K. Neale, Esq.
A Cap, Inc. Shereff, Friedman, Hoffman & Goodman, LLP
Jay H. Zises 919 Third Avenue
Selig A. Zises New York, New York 10022
Nancy J. Frankel-Zises (212) 758-9500
477 Madison Avenue, 14th Floor New York, NY 10022
(212) 872-9660
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(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
December 11, 1996
--------------------------------------------------------
(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 [ ].
Check the following box if a fee is being paid with the statement [ ]. (A fee
is not required only if the reporting person: (1) has a previous statement on
file reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of less than five percent of such
class.) (See Rule 13d-7.)
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.
*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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SCHEDULE 13D
CUSIP No. 056359102 PAGE 2 OF 10 PAGES
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
ASSOCIATED CAPITAL, L.P.
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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 PROCEEDINGS 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
356,000 shares
NUMBER OF ----------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY ----------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 356,000 shares
PERSON ----------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
356,000 shares
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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)
4.0%
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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.
2
<PAGE> 3
SCHEDULE 13D
CUSIP No. 056359102 PAGE 3 OF 10 PAGES
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
A CAP, 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*
WC
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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
DELAWARE
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7 SOLE VOTING POWER
356,000 shares
NUMBER OF ----------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY ----------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 356,000 shares
PERSON ----------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
356,000 shares
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.0%
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14 TYPE OF REPORTING PERSON*
CO
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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.
3
<PAGE> 4
SCHEDULE 13D
CUSIP No. 056359102 PAGE 4 OF 10 PAGES
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
JAY H. ZISES
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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, PF, 00
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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
UNITED STATES
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7 SOLE VOTING POWER
401,000 shares
NUMBER OF ----------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 14,500 shares
OWNED BY ----------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 401,000 shares
PERSON ----------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
14,500 shares
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
415,500 shares
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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)
4.6%
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14 TYPE OF REPORTING PERSON*
IN
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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.
4
<PAGE> 5
SCHEDULE 13D
CUSIP No. 056359102 PAGE 4 OF 10 PAGES
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
SELIG A. ZISES
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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*
PF, 00
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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
UNITED STATES
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7 SOLE VOTING POWER
0
NUMBER OF ----------------------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 0
OWNED BY ----------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 0
PERSON ----------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
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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)
0.0%
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14 TYPE OF REPORTING PERSON*
IN
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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.
5
<PAGE> 6
SCHEDULE 13D
This Amendment No. 5 amends and supplements the Statement on Schedule
13D filed with the Securities and Exchange Commission on June 28, 1995, as
amended by Amendments No. 1, 2, 3 and 4 thereto (the "Statement") with respect
to the common stock, $.10 par value per share, of Cambex Corporation (the
"Common Stock"). Only those items of the Statement that are amended and
supplemented hereby are included herein. Unless otherwise defined herein, all
capitalized terms shall have the respective meanings ascribed to them in the
Statement.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
(a) and (b) Associated Capital is the beneficial and record
owner of 356,000 shares of Common Stock, or 4.0% of the outstanding shares of
Common Stock.
As the general partner of Associated Capital, A Cap has the sole power
to vote and to direct the voting of and the sole power to dispose and direct
the disposition of the 356,000 shares of Common Stock owned by Associated
Capital. Accordingly, A Cap may be deemed to be the beneficial owner of such
356,000 shares of Common Stock or 4.0% of the outstanding shares of Common
Stock.
Jay Zises, as President of A Cap, has the sole power to vote and to
direct the voting of, and to dispose and to direct the disposition of, the
shares of Common Stock deemed to be beneficially owned by A Cap. Accordingly,
Mr. Zises may be deemed to be the beneficial owner of such 356,000 shares of
Common Stock or 4.0% of the outstanding shares of Common Stock.
Jay Zises is the beneficial and record owner of an aggregate of 45,000
shares of Common Stock or 0.5% of the outstanding in his personal account and
individual retirement account ("IRA"). Mr. Zises also may be deemed to own
beneficially an additional 14,500 shares of Common Stock or 0.2% of the
outstanding in the account of his ex-wife, Susan Zises. In addition, as
described below, Jay Zises also may be deemed to own beneficially any shares of
Common Stock held in an UGMA account for the benefit of his daughter, Meryl
Zises, and in the accounts of his son, Justin Zises, his daughters, Lara Zises
and Samantha Zises, and his mother-in-law, Inge Frankel. Currently, no Common
Stock is held in such accounts.
In addition to the 356,000 shares of Common Stock owned by Associated
Capital, Jay Zises has sole power to vote or direct the vote of, and to dispose
and to direct the disposition of, the 45,000 shares of Common Stock or 0.5% of
the outstanding in Mr. Zises's personal and IRA accounts. In addition, Jay
Zises has shared power to vote or direct the voting of, and shared power to
dispose or direct the disposition of, the 14,500 shares or 0.2% of the
outstanding held in the account of his ex-wife, Susan Zises. Jay Zises has
shared power to vote or direct the voting of, and shared power to dispose or
direct the disposition of, any shares of Common Stock which may hereafter be
held in an UGMA account for the benefit of his daughter, Meryl Zises, and in
the accounts of son, Justin Zises, his daughters, Lara Zises and Samantha
Zises, and his mother-in-law, Inge Frankel.
6
<PAGE> 7
Selig A. Zises is the beneficial and record owner of an aggregate of 0
(zero) shares of Common Stock. In addition, as described below, Mr. Zises also
may be deemed to own beneficially any shares of Common Stock held in the
account of his daughter, Lynn Zises. Currently, no Common Stock is held in the
account of Lynn Zises.
The number of shares beneficially owned by the above persons and the
percentage of outstanding shares represented hereby have been computed in
accordance with Rule 13d-3 under the Securities Exchange Act of 1934, as
amended. The percentages of ownership are based on 8,975,000 outstanding
shares of Common Stock of the Issuer based on the Issuer's Quarterly Report on
Form 10-Q for the quarter ended June 29, 1996.
(c) All transactions in the Common Stock effected by the
above persons since the filing of the previous amendment to the Statement are
set forth in Exhibit C hereto and are incorporated herein by reference. All
such transactions were effected in the open market. There have been no
transactions in the Common Stock effected by the other Reporting Persons since
such time.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
Exhibit C. Transactions in Common Stock of the Issuer.
7
<PAGE> 8
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.
ASSOCIATED CAPITAL, L.P.
By: A CAP, INC., as General Partner
By: /s/ Jay H. Zises
-------------------------------------
Jay H. Zises, President
A CAP, INC.
By: /s/ Jay H. Zises
-------------------------------------
Jay H. Zises, President
/s/ Jay H. Zises
----------------------------------------
JAY H. ZISES
/s/ Selig A. Zises
----------------------------------------
SELIG A. ZISES
Dated: December 13, 1996
8
<PAGE> 1
Exhibit C
Transactions in Common Stock
of
CAMBEX CORPORATION
as of 12/11/96
CAMBEX CORPORATION
<TABLE>
<CAPTION>
- -------------------------------------------------------------------------------------------------------------
Trade Date #of shares Price Net $
- -------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Associated Capital 11/11/96 -11,500 $2.541 ($29,218.05)
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11/11/96 -12,000 $2.677 ($32,124.00)
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11/14/96 -7,500 $2.500 ($18,750.00)
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11/15/96 -2,500 $2.500 ($6,250.00)
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11/20/96 -6,000 $2.625 ($15,750.00)
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11/21/96 -6,000 $2.427 ($14,562.00)
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11/22/96 -20,000 $2.488 ($49,750.00)
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11/27/96 -2,000 $2.500 ($5,000.00)
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12/3/96 -2,000 $2.500 ($5,000.00)
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12/3/96 -2,000 $2.375 ($4,750.00)
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12/10/96 -11,000 $2.250 ($24,750.00)
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SUB TOTAL 356,000 $9.259 $3,296,258.45
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Selig Zises 10/17/96 -1,000 $3.500 ($3,500.00)
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10/18/96 -1,000 $3.295 ($3,295.00)
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</TABLE>
<PAGE> 2
<TABLE>
<CAPTION>
- -------------------------------------------------------------------------------------------------------------
Trade Date #of shares Price Net $
- -------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
10/22/96 -1,000 $3.500 ($3,500.00)
- -------------------------------------------------------------------------------------------------------------
10/23/96 -1,000 $3.500 ($3,500.00)
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10/24/96 -1,000 $3.500 ($3,500.00)
- -------------------------------------------------------------------------------------------------------------
10/25/96 -1,000 $3.500 ($3,500.00)
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10/30/96 -1,000 $3.108 ($3,107.50)
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10/31/96 -1,000 $3.108 ($3,107.50)
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11/1/96 -1,000 $3.045 ($3,045.00)
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11/4/96 -1,000 $2.920 ($2,920.00)
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11/5/96 -1,600 $2.920 ($4,672.00)
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SUB TOTAL 0
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Susan Zises 12/10/96 -500 $2.375 ($1,187.50)
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SUB TOTAL 14,500 $9.220 $133,691.50
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Current Total 420,500
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% ownership 4.69%
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6.74% 604,915
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5.00% 448,750
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4.74% 425,415
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</TABLE>
10
