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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
AMENDMENT NO. 2
The Seibels Bruce Group, Inc.
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(Name of Issuer)
Common Stock, $1.00 par value
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(Title of Class of Securities)
816006-20
(CUSIP Number)
James L. Zech
Steven J. Tynan
High Ridge Capital, LLC
107 Elm Street
Four Stamford Plaza
P.O. Box 120043
Stamford, CT 06912-0043
(203) 705-2750
with a copy to:
James A. FitzPatrick, Jr.
Dewey Ballantine LLP
1301 Avenue of the Americas
New York, NY 10019-6092
(212) 259-8000
----------------------------------------
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
December 31, 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 [_].
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 five percent or less of such class.)
(See Rule 13d-7.)
Page 1 of 16
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SCHEDULE 13D
CUSIP No. 816006-20
---------
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1 NAME OF REPORTING PERSON: High Ridge Capital, LLC
-----------------------
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: 06-1459537
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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
NA
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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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NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
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7 SOLE VOTING POWER
703,124*
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8 SHARED VOTING POWER
0
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9 SOLE DISPOSITIVE POWER
703,124*
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10 SHARED DISPOSITIVE POWER
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
703,124*
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [_]
Not Applicable
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.5%
-----
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14 TYPE OF REPORTING PERSON
CO
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* Includes (a) 351,562 shares issuable upon exercise of options held by the
Reporting Person at any time before December 31, 2000, and (b) 351,562 shares
issuable upon the exercise of options held by High Ridge Capital Partners
Limited Partnership at any time before December 31, 2000, as described in Items
3 and 4 herein.
Page 2 of 16
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SCHEDULE 13D
CUSIP No. 816006-20
---------
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1 NAME OF REPORTING PERSON: High Ridge Capital Partners Limited Partnership
-----------------------------------------------
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: 06-1459533
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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
NA
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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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NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
703,124*
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8 SHARED VOTING POWER
0
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9 SOLE DISPOSITIVE POWER
703,124*
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10 SHARED DISPOSITIVE POWER
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
703,124*
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [_]
Not Applicable
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.5%
------
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14 TYPE OF REPORTING PERSON
PN
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* Includes (a) 351,562 shares issuable upon exercise of options held by High
Ridge Capital, LLC at any time before December 31, 2000, and (b) 351,562 shares
issuable upon exercise of options held by the Reporting Person at any time
before December 31, 2000.
Page 3 of 16
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SCHEDULE 13D
CUSIP No. 816006-20
---------
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1 NAME OF REPORTING PERSON: HRC General Partner Limited Partnership
---------------------------------------
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: 06-459536
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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
NA
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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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NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
703,124*
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8 SHARED VOTING POWER
0
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9 SOLE DISPOSITIVE POWER
703,124*
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10 SHARED DISPOSITIVE POWER
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
703,124*
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [_]
Not Applicable
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.5%
------
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14 TYPE OF REPORTING PERSON
PN
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* Includes (a) 351,562 shares issuable upon exercise of options held by High
Ridge Capital, LLC at any time before December 31, 2000, and (b) 351,562 shares
issuable upon exercise of options held by High Ridge Capital Partners Limited
Partnership at any time before December 31, 2000, as described in Items 3 and 4
herein.
Page 4 of 16
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SCHEDULE 13D
CUSIP No. 816006-20
---------
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1 NAME OF REPORTING PERSON: James L. Zech
-------------
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: ###-##-####
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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
NA
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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
U.S.
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NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
703,124*
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8 SHARED VOTING POWER
0
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9 SOLE DISPOSITIVE POWER
703,124*
- --------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
703,124*
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [_]
Not Applicable
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.5%
------
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14 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
* Includes (a) 351,562 shares issuable upon exercise of options held by High
Ridge Capital, LLC at any time before December 31, 2000, and (b) 351,562 shares
issuable upon exercise of options held by High Ridge Capital Partners Limited
Partnership at any time before December 31, 2000, as described in Items 3 and 4
herein.
Page 5 of 16
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SCHEDULE 13D
CUSIP No. 816006-20
---------
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1 NAME OF REPORTING PERSON: Steven J. Tynan
---------------
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: ###-##-####
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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
NA
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or 2(e) [_]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.
- --------------------------------------------------------------------------------
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
703,124*
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8 SHARED VOTING POWER
0
- --------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
703,124*
- --------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
703,124*
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [_]
Not Applicable
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.5%
------
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14 TYPE OF REPORTING PERSON
IN
- --------------------------------------------------------------------------------
* Includes (a) 351,562 shares issuable upon exercise of options held by High
Ridge Capital, LLC at any time before December 31, 2000 and (b) 351,562 shares
issuable upon exercise of options held by High Ridge Capital Partners Limited
Partnership at any time before December 31, 2000, as described in Items 3 and 4
herein.
Page 6 of 16
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This Amendment No. 2 amends and supplements the Statement on Schedule 13D
filed on November 20, 1997 (the "Original Statement"), as amended on July 7,
1998 ("Amendment No. 1"), with respect to the common stock, par value $1.00 per
share ("Common Stock"), of The Seibels Bruce Group, Inc., a South Carolina
corporation ("SBGI"). The address of the principal executive offices of SBGI is
1501 Lady Street, Columbia, South Carolina 29201. Unless otherwise indicated,
each capitalized term used but not defined herein shall have the meaning
assigned to such term in the Original Statement.
The Reporting Persons have entered into a Joint Filing Agreement dated
November 24, 1997, which is attached hereto as Schedule I.
Page 7 of 16
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ITEM 4. PURPOSE OF THE TRANSACTION.
The response set forth in Item 4 of the Original Statement, as
previously amended and supplemented, is hereby incorporated herein by reference
and is amended and supplemented by the following: The 1998 LLC Options and the
1998 Partnership Options, none of which have been exercised, have expired.
Page 8 of 16
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ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
The response set forth in Item 5 of the Original Statement, as previously
amended and supplemented, is hereby incorporated herein by reference and is
amended and supplemented by the following:
(a)-(b) According to SBGI, as of December 31, 1998, there were 10,776,984
shares of SBGI Common Stock issued and outstanding on a fully diluted basis
("Total Outstanding Shares").
Page 9 of 16
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On December 31, 1998, the 1998 LLC Options and the 1998 Partnership
Options expired. These options represented, in the aggregate, the right to
purchase 703,124 shares of SBGI Common Stock. As a result of such expiration,
the Reporting Persons now own, in the aggregate, options representing the right
to acquire 703,124 shares of SBGI Common Stock, or 6.5% of the Total Outstanding
Shares on a fully diluted basis.
(c) None of the Reporting Persons has effected any transaction in SBGI
Common Stock during the past 60 days, except as disclosed herein.
Page 10 of 16
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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.
Date: January 28, 1999
HIGH RIDGE CAPITAL, LLC
By: /s/ James L. Zech
-----------------
Name: James L. Zech
Title: President
Page 11 of 16
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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.
Date: January 28, 1999
HRC GENERAL PARTNER LIMITED PARTNERSHIP
By: High Ridge Capital, LLC
-----------------------
Its: General Partner
By: /s/ James L. Zech
--------------------
Name: James L. Zech
Title: President
Page 12 of 16
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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.
Date: January 28, 1999
HIGH RIDGE CAPITAL PARTNERS
LIMITED PARTNERSHIP
By: HRC General Partner Limited Partnership
-----------------------------------------
Its: General Partner
By: High Ridge Capital, LLC
Its: General Partner
By: /s/ James L. Zech
--------------------
Name: James L. Zech
Title: President
Page 13 of 16
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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.
Date: January 28, 1999
/s/ James L. Zech
-----------------
James L. Zech
Page 14 of 16
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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.
Date: January 28, 1999
/s/ Steven J. Tynan
-------------------
Steven J. Tynan
Page 15 of 16
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Schedule I
JOINT FILING AGREEMENT
----------------------
The undersigned parties hereby agree that the Schedule 13D filed
herewith (and any amendments thereto) relating to the stock of The Seibels Bruce
Group, Inc. is being filed jointly with the Securities and Exchange Commission
pursuant to Rule 13d-1(f) under the Securities Exchange Act of 1934, as amended,
on behalf of each such person.
Dated: November 25, 1997
HIGH RIDGE CAPITAL, LLC
By: /s/ James L. Zech
----------------------
Name: James L. Zech
Title: President
HRC GENERAL PARTNER LIMITED PARTNERSHIP
By: High Ridge Capital, LLC
-----------------------
Its: General Partner
By: /s/ James L. Zech
---------------------
Name: James L. Zech
Title: President
HIGH RIDGE CAPITAL PARTNERS
LIMITED PARTNERSHIP
By: HRC General Partner Limited Partnership
---------------------------------------
Its: General Partner
By: High Ridge Capital, LLC
-----------------------
Its: General Partner
By: /s/ James L. Zech
---------------------
Name: James L. Zech
Title: President
/s/ James L. Zech
------------------
James L. Zech
/s/ Steven J. Tynan
-------------------
Steven J. Tynan
Page 16 of 16
