UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. ___)*
Kinnard Investments, Inc.
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(Name of Issuer)
Common Stock, $.02 par value
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(Title of Class of Securities)
497059 10 5
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(CUSIP Number)
William F. Farley - (612-370-2700)
920 Second Avenue South
Minneapolis, Minnesota 55402
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(Name, Address and Telephone Number of Person Authorized to Receive Notices
and Communications)
April 7, 1997
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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(b)(3) or (4), check the following box .
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).
<PAGE>
SCHEDULE 13D
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CUSIP No. 497059 10 5 Page 2 of 4 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
William F. Farley
###-##-####
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
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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.A.
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NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 327,500
OWNED BY
EACH 8 SHARED VOTING POWER
REPORTING
PERSON 0
WITH
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9 SOLE DISPOSITIVE POWER
327,500
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10 SHARED DISPOSITIVE POWER
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
327,500
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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)
5.2%
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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.
<PAGE>
ITEM 1. SECURITY AND ISSUER.
This filing relates to Common Stock, $.02 par value, of Kinnard
Investments, Inc. (the "Issuer"), 920 Second Avenue South,
Minneapolis, Minnesota 55402.
ITEM 2. IDENTITY AND BACKGROUND.
(a) William F. Farley
(b) 920 Second Avenue South
Minneapolis, Minnesota 55402
(c) Chief Operating Officer of the Issuer and President and
Chief Executive Officer of the Issuer's subsidiary, John G.
Kinnard and Company, Incorporated.
(d) Mr. Farley has never been convicted in a criminal
proceeding.
(e) Mr. Farley has not been a party to any civil proceeding as a
result of which he 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.
(f) Mr. Farley is a citizen of the United States of America.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
Mr. Farley purchased from the Issuer 325,000 Units, each Unit
consisting of one share of Common Stock and a Warrant to purchase
one share of Common Stock, for a total consideration of
$1,706,250. Personal investment funds were used for such
acquisition.
ITEM 4. PURPOSE OF TRANSACTION.
Mr. Farley acquired the securities of the Issuer for long term
investment and capital appreciation.
Page 3 of 4
<PAGE>
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
(a) Mr. Farley beneficially owns 327,500 shares of the Issuer's
Common Stock, representing 5.2% of the shares of Common
Stock outstanding.
(b) Mr. Farley has sole voting and dispositive power over all of
such securities.
(c) On April 7, 1997, Mr. Farley purchased from the Issuer, for
total consideration of $1,706,250 or $5.25 per Unit, 325,000
Units, each Unit consisting of one share of Common Stock and
a Warrant to purchase one share of Common Stock at an
exercise price of $6.00. The Warrants become exercisable as
to 125,000 shares on December 31, 1997 and as to 200,000
shares on December 31, 1998, and expire on April 6, 2002.
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.
Dated: April 11, 1997
/s/ William F. Farley
William F. Farley
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