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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 8)*
PRICE COMMUNICATIONS CORPORATION
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(Name of Issuer)
COMMON STOCK, $.01 PAR VALUE
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(Title of Class of Securities)
741437305
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(CUSIP Number)
Hilltop Partners, L.P. Gerald Adler
Laifer, Inc. Shereff, Friedman, Hoffman & Goodman, LLP
Lance Laifer 919 Third Avenue, New York, NY 10022
114 West 47th Street, (212) 758-9500
New York, NY 10036
(212) 921-4139
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(Name, Address, and Telephone Number of Person
Authorized to Receive Notices and Communications)
June 27, 1995
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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 [ ].
Check the following box if a fee is being paid with this 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.)
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).
<TABLE>
SCHEDULE 13D
CUSIP NO. 741437305 PAGE 2 OF PAGES
<S> <C> <C>
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Hilltop Partners, L.P.
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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*
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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NUMBER OF 7. SOLE VOTING POWER 578,405
SHARES ------------------------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER 0
OWNED BY ------------------------------------------------------
EACH 9. SOLE DISPOSITIVE POWER 578,405
REPORTING ------------------------------------------------------
PERSON WITH 10. SHARED DISPOSITIVE POWER 0
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 578,405
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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) 5.9%
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14. TYPE OF REPORTING PERSON* PN
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</TABLE>
*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.
<TABLE>
SCHEDULE 13D
CUSIP NO. 741437305 PAGE 3 OF PAGES
<S> <C> <C>
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Laifer Inc.
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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* 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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NUMBER OF 7. SOLE VOTING POWER 786,484
SHARES ------------------------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER 0
OWNED BY ------------------------------------------------------
EACH 9. SOLE DISPOSITIVE POWER 685,532
REPORTING ------------------------------------------------------
PERSON WITH 10. SHARED DISPOSITIVE POWER 501,619
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 1,187,151
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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) 12.0%
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14. TYPE OF REPORTING PERSON* Co, IA
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</TABLE>
*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.
<TABLE>
SCHEDULE 13D
CUSIP NO. 741437305 PAGE 4 OF PAGES
<S> <C> <C>
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Lance Laifer
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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* 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 United States
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NUMBER OF 7. SOLE VOTING POWER 786,484
SHARES ------------------------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER 0
OWNED BY ------------------------------------------------------
EACH 9. SOLE DISPOSITIVE POWER 685,532
REPORTING ------------------------------------------------------
PERSON WITH 10. SHARED DISPOSITIVE POWER 501,619
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 1,187,151
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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) 12.0%
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14. TYPE OF REPORTING PERSON* IN
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</TABLE>
*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.
Schedule 13D Amendment No. 8
Price Communications Corporation
This Amendment No. 8 to the Statement on Schedule 13D (as
defined below) amends and supplements the Statement on Schedule 13D filed
October 29, 1993 (the "Schedule 13D"), the Amendment No. 1 to the Schedule 13D
filed December 17, 1993, the Amendment No. 2 to the Schedule 13D filed February
5, 1994, the Amendment No. 3 to the Schedule 13D filed March 1, 1994, the
Amendment No. 4 to the Schedule 13D filed March 18, 1994, the Amendment No. 5 to
the Schedule 13D filed December 5, 1994, the Amendment No. 6 to the Schedule 13D
filed December 20, 1994 and the Amendment No. 7 to the Schedule 13D filed March
9, 1995 by Hilltop Partners, L.P., Laifer Inc. and Lance Laifer (collectively,
the "Reporting Persons"), each relating to the common stock, par value $.01 per
share (the "Common Stock"), of Price Communications Corporation, a Delaware
corporation (the "Company"). The above-referenced Statement on Schedule 13D and
Amendments No. 1, No. 2, No. 3, No. 4, No. 5, No. 6 and No. 7 are collectively
referred to herein as the "Schedule 13D".
Item 5. Interest in Securities of Issuer.
Item 5 is amended and restated to read in full as follows:
(a) Hilltop Partners, L.P. is the beneficial owner of
578,405 shares (5.9%) of Common Stock.
Laifer Inc. is the beneficial owner of 1,187,151 shares (12.0%)
of Common Stock. The 1,187,151 shares of Common Stock beneficially owned by
Laifer Inc. includes (i) 578,405 shares of Common Stock beneficially owned by
Laifer Inc. in its capacity as General Partner and Investment Advisor to Hilltop
Partners, L.P., which shares have been described in the previous paragraph and
(ii) 608,746 shares of Common Stock beneficially owned by Laifer Inc. in its
capacity as Investment Advisor to various other clients. These clients include:
(a) various Wolfson family entities, with an address at One State Street Plaza,
New York, New York 10004-1505, (b) Grosvenor Multi Strategy Fund, L.P., 333 W.
Wacker Drive, Suite 1610, Chicago, Illinois 60606-1218, (c) Haussman Holdings
N.V., a Netherlands Antilles corporation, (d) various charitable trusts, with an
address at One State Street Plaza, New York, New York 10004-1505 and (e) Hilltop
Offshore Limited ("Offshore"), a Cayman Islands company, with an address c/o
Consolidated Fund Management Limited, P.O. Box HM 2257, Par La Ville Place, 14
Par La Ville Road, Hamilton HMJX, Bermuda (the "Clients").
Lance Laifer, as president and principal stockholder of Laifer
Inc., is deemed to have the same beneficial ownership as Laifer Inc.
Page 5
The number of shares beneficially owned by the Reporting Persons
and the percentage of outstanding shares represented thereby have been computed
in accordance with Rule 13d-3 under the Securities Exchange Act of 1934, as
amended. As of June 26, 1995, there were 9,855,994 shares of Common Stock
outstanding as disclosed to the Reporting Persons by an officer of the Company.
(b) Hilltop Partners, L.P. has the sole power (i) to vote or
to direct the voting of and (ii) to dispose and to direct the disposition of the
578,405 shares of Common Stock beneficially owned by it. Hilltop Partners,
L.P.'s power to vote and dispose of its shares rests with Laifer Inc., in its
capacity as the General Partner of Hilltop Partners, L.P.
Laifer Inc. has the sole power (i) to vote and to direct the
voting of and (ii) to dispose and direct the disposition of the 578,405 shares
of Common Stock beneficially owned by it in its capacity as the General Partner
of Hilltop Partners, L.P. Laifer Inc. (i) has sole power to vote and to direct
the voting of 208,079 shares of Common Stock owned by certain of the Clients,
(ii) has the sole power to dispose and direct the disposition of 107,127 shares
of Common Stock owned by Offshore and (iii) shares with certain of the Clients
the power to dispose and direct the disposition of 501,619 shares of Common
Stock owned by Laifer Inc. in its capacity as Investment Advisor to such
Clients.
(c) All transactions in the Common Stock effected by the
Reporting Persons and the Covered Persons since the filing of Amendment No. 7 to
the Schedule 13D are set forth in Annex A hereto and are incorporated herein by
reference.
(d) Not applicable.
(e) Not applicable.
Page 6
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: July 6, 1995 HILLTOP PARTNERS, L.P.
By: LAIFER INC.,
as General Partner
By: /s/ Lance Laifer
Lance Laifer
President
LAIFER INC.
By: /s/ Lance Laifer
Lance Laifer
President
By: /s/ Lance Laifer
Lance Laifer
Page 7
Annex A
Price Communications Corporation
<TABLE>
<CAPTION>
Laifer Inc. Hilltop Wolfson Offshore Grosvenor Haussman
Broker Price Comm. Net Price # Shares # Shares # Shares # Shares # Shares # Shares
------ ----- ----- --------- --------- -------- -------- -------- --------- --------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
4/28/95
BUYS
NEUB $5.7500 $0.0500 $5.8000 1,000 500 300 100 0 100
5/11/95
BUYS
ABSB $5.8750 $0.0500 $5.9250 1,000 500 200 100 100 100
6/22/95
SELLS
ABSB $7.1500 $0.0500 $7.1000 5,000 2,400 1,700 900 0 0
JEFF $7.2510 $0.0500 $7.2010 30,800 15,000 10,400 3,000 0 2,400
6/23/95
SELLS
JEFF $7.1250 $0.0500 $7.0750 12,600 5,900 4,200 1,100 500 800
6/27/95
SELLS
ABSB $7.5000 $0.0500 $7.4500 5,000 2,400 1,900 700 0 0
</TABLE>
