<PAGE>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 4)
LIFECORE BIOMEDICAL, INC.
-------------------------
(Name of Issuer)
COMMON STOCK, $0.01 PAR VALUE
-----------------------------
(Title of Class of Securities)
532187107
---------
(CUSIP Number)
John E. Runnells
The Vertical Group, L.P.
25 DeForest Avenue
Summit, NJ 07901
(908) 277-3737
--------------
(Name, Address and Telephone Number of Person Authorized to Receive
Notices and Communications)
DECEMBER 29, 2000
-----------------
(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 ".
NOTE: Schedules filed in paper format shall include a signed original and five
copies of the schedule including all exhibits. 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).
<PAGE>
SCHEDULE 13D
================================================================================
CUSIP NO. 532187107 Page 2 of 9 Pages
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Vertical Fund Associates, L.P.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS / /
IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 656,500
-------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY -------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
EACH
656,500
REPORTING -------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
PERSON WITH
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
656,500
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES / /
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.2%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
================================================================================
<PAGE>
SCHEDULE 13D
================================================================================
CUSIP NO. 532187107 Page 3 of 9 Pages
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Vertical Life Sciences, L.P.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS / /
IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 393,000
-------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY -------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
EACH
393,000
REPORTING -------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
PERSON WITH
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
393,000
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES / /
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 3.1%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
================================================================================
<PAGE>
SCHEDULE 13D
================================================================================
CUSIP NO. 532187107 Page 4 of 9 Pages
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Stephen D. Baksa
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF
--------------------------------------------------------------------------------
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.A.
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 124,000
-------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 1,049,500
-------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
EACH
393,000
REPORTING -------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
PERSON WITH
1,049,500
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,173,500
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES / /
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 9.3%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
================================================================================
<PAGE>
SCHEDULE 13D
================================================================================
CUSIP NO. 532187107 Page 5 of 9 Pages
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Jack W. Lasersohn
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF
--------------------------------------------------------------------------------
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.A.
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 33,700
-------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 1,049,500
-------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
EACH
33,700
REPORTING -------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
PERSON WITH
1,049,500
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,083,200
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES / /
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 8.6%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
================================================================================
<PAGE>
SCHEDULE 13D
================================================================================
CUSIP NO. 532187107 Page 6 of 9 Pages
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
John E. Runnells
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF
--------------------------------------------------------------------------------
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.A.
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 1,800
-------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 1,049,500
-------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
EACH
1,800
REPORTING -------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
PERSON WITH
1,049,500
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,051,300
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11)
EXCLUDES CERTAIN SHARES / /
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 8.3%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
================================================================================
<PAGE>
Page 7 of 9 Pages
This Amendment No. 4 to Statement on Schedule 13-D ("Statement")
with respect to the Common Stock, par value $0.01 per share, of Lifecore
Biomedical, Inc. (the "Issuer") is filed jointly by Vertical Fund Associates,
L.P. ("Associates") and Vertical Life Sciences, L.P. ("Life Sciences")
(collectively, the "Partnerships"), Stephen D. Baksa ("Baksa"), Jack W.
Lasersohn ("Lasersohn") and John E. Runnells ("Runnells") (the Partnerships,
Baksa, Lasersohn and Runnells are hereinafter sometimes referred to collectively
as the "Reporting Persons") in order to amend Items 2, 3 and 5 of the Statement
to read in their entirety as set forth below. No change is made to the other
Items contained in the Statement.
ITEM 2. IDENTITY AND BACKGROUND.
This Statement is filed jointly by Vertical Fund Associates, L.P.
("Associates") and Vertical Life Sciences, L.P. ("Life Sciences") (collectively,
the "Partnerships"), Stephen D. Baksa ("Baksa"), Jack W. Lasersohn ("Lasersohn")
and John E. Runnells ("Runnells"). (The Partnerships, Baksa, Lasersohn and
Runnells are hereinafter sometimes referred to collectively as the "Reporting
Persons.") Each of the Partnerships is a Delaware limited partnership whose
business address is 25 DeForest Avenue, Summit, New Jersey 07901. The sole
general partner of each of the Partnerships is The Vertical Group, L.P.
("Group"), a Delaware limited partnership whose business address is 25 DeForest
Avenue, Summit, New Jersey 07901. The general partners of Group are Baksa,
Richard B. Emmitt, Yue-The Jang, Lasersohn and Runnells (collectively, the
"Individuals"), each of whom is a United States citizen and has a business
address of 25 DeForest Avenue, Summit, New Jersey 07901. Each of the
Partnerships, Group and the Individuals is engaged principally in the business
of securities investment. During the past five years, neither of the
Partnerships nor Group nor any of the Individuals has been (i) convicted in a
criminal proceeding (excluding traffic violations or similar misdemeanors) or
(ii) a party to a civil proceeding of a judicial or administrative body of
competent jurisdiction as a result of which such person was or is subject to a
judgment, decree or final order enjoining future violations of, or prohibiting
or mandating activities subject to, federal or state securities laws or finding
any violation with respect to such laws.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
As of December 29, 2000, Associates owned 656,500 shares of LCBM
Common Stock, which it acquired at an aggregate cost of $5,077,918; Life
Sciences owned 393,000 shares of LCBM Common Stock, which it acquired at an
aggregate cost of $3,049,013; Baksa owned 124,000 shares of LCBM Common Stock,
which he acquired at an aggregate cost of $1,093,677; Lasersohn owned 33,700
shares of LCBM Common Stock, which he acquired at an aggregate cost of $375,487;
and Runnells owned 1,800 shares of LCBM Common Stock, which he acquired at an
aggregate cost of $17,550. All of the 1,209,000 shares of LCBM Common Stock
collectively owned by the Reporting Persons are hereinafter referred to as the
"Shares". The source of funds used by each Partnership to acquire the Shares
owned by it was such Partnership's internal cash funds and by each of the three
Individuals was such Individual's personal funds.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
(a) and (b) Of the aggregate 1,209,000 Shares beneficially owned by
all the Reporting Persons, 656,500 shares (approximately 5.2% of the total
outstanding) are directly and beneficially owned by Associates; 393,000 shares
(approximately 3.1% of the total outstanding) are directly and beneficially
owned by Life
<PAGE>
Page 8 of 9 Pages
Sciences; 124,000 shares (approximately 1.0% of the total outstanding) are
directly and beneficially owned by Baksa; 33,700 shares (approximately 0.3% of
the total outstanding) are directly and beneficially owned by Lasersohn; and
1,800 shares (less than 0.1% of the total outstanding) are directly and
beneficially owned by Runnells. Subject to the next succeeding paragraph, each
of the Reporting Persons has the sole power to vote or direct the vote and to
dispose or direct the disposition of the Shares directly and beneficially owned
by such person.
In addition, Group may be deemed to be the beneficial owner of all
1,049,500 Shares (approximately 8.3% of the total outstanding) collectively
owned by the two Partnerships because, as the sole general partner of both
Partnerships, Group has the sole power to vote or direct the vote and to dispose
or direct the disposition of such Shares, and each of the Individuals may be
deemed to be the beneficial owner of all 1,049,500 Shares (approximately 8.3% of
the total outstanding) collectively owned by the two Partnerships because as a
general partner of Group (which is the sole general partner of both
Partnerships), each such Individual shares the power (which may be exercised by
any one of such Individuals acting alone) to vote or direct the vote and to
dispose or direct the disposition of such Shares.
(c) The chart below lists all transactions in LCBM Common Stock
during to past 60 days by any of the persons identified in response to paragraph
(a) of this Item 5, all of which transactions were purchases of LCBM Common
Stock effected in the open market:
<TABLE>
<CAPTION>
Person
Effecting Date of Number of Price per
Transaction Transaction Shares Share
----------- ----------- --------- ---------
<S> <C> <C> <C>
Associates December 26, 2000 25,000 $3.75
Associates December 27, 2000 40,000 $3.76
Associates December 28, 2000 17,500 $4.03
Associates December 29, 2000 12,500 $4.44
Life Sciences December 26, 2000 10,000 $3.75
Life Sciences December 27, 2000 10,000 $3.76
Life Sciences December 28, 2000 7,500 $4.03
Life Sciences December 29, 2000 12,500 $4.44
</TABLE>
(d) and (e) Not applicable.
<PAGE>
Page 9 of 9 Pages
SIGNATURE.
After reasonable inquiry and to the best of their knowledge and
belief, the undersigned certify that the information set forth in this Amendment
No. 4 is true, complete and correct.
January 3, 2001 VERTICAL FUND ASSOCIATES, L.P.
BY: THE VERTICAL GROUP, L.P.
General Partner
By: /s/ John E. Runnells
---------------------
John E. Runnells
General Partner
VERTICAL LIFE SCIENCES, L.P.
BY: THE VERTICAL GROUP, L.P.
General Partner
By: /s/ John E. Runnells
---------------------
John E. Runnells
General Partner
/s/ Stephen D. Baksa
--------------------
Stephen D. Baksa
/s/ Jack W. Lasersohn
---------------------
Jack W. Lasersohn
/s/ John E. Runnells
--------------------
John E. Runnells
