SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
S C H E D U L E 13D
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULE 13d -1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
RULE 13d-2(a).
(Amendment No. 1)(1)
PRICE COMMUNICATIONS CORPORATION
(Name of Issuer)
COMMON STOCK, $0.01 PAR VALUE
(Title of Class of Securities)
741437305
(CUSIP Number)
Copy to:
Mr. Edward Grinacoff
21st Century Communications Morrison Cohen Singer & Weinstein, LLP
Partners, L.P. 750 Lexington Avenue
767 Fifth Avenue, 45th Floor New York, New York 10022
New York, New York 10153 Telephone (212) 735-8600
Telephone (212) 754-8100
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
December 4, 1997
(Date of Event which Requires Filing this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition that is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(e), 13d-1(f) or 13d-(g), check the following box
|_|.
NOTE: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See Rule 13d-7(b) for other
parties to whom copies are to be sent.
(Continued on following page(s))
- --------
(1) 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 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).
- 1 of 26 -
<PAGE>
CUSIP
No. 741437305 13D
================================================================================
1 Name of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
21st Century Communications Partners, 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
________________________________________________________________________________
7 Sole Voting Power
Number of 247,480 shares 4.5%
Shares _________________________________________________________________
8 Shared Voting Power
Beneficially
117,520 shares 2.1%
Owned by
_________________________________________________________________
Each 9 Sole Dispositive Power
Reporting 247,480 shares 4.5%
Person _________________________________________________________________
10 Shared Dispositive Power
With
117,520 shares 2.1%
________________________________________________________________________________
11 Aggregate Amount Beneficially Owned by Each Reporting Person
365,000 shares
________________________________________________________________________________
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares*
[_]
________________________________________________________________________________
13 Percent of Class Represented by Amount in Row (11)
6.7%
________________________________________________________________________________
14 Type of Reporting Person*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- 2 of 26 -
<PAGE>
CUSIP
No. 741437305 13D
================================================================================
1 Name of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
21st Century Communications T-E Partners, 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
________________________________________________________________________________
7 Sole Voting Power
Number of 84,202 shares 1.5%
Shares _________________________________________________________________
8 Shared Voting Power
Beneficially
280,798 shares 5.1%
Owned by
_________________________________________________________________
Each 9 Sole Dispositive Power
Reporting 84,202 shares 1.5%
Person _________________________________________________________________
10 Shared Dispositive Power
With
280,798 shares 5.1%
________________________________________________________________________________
11 Aggregate Amount Beneficially Owned by Each Reporting Person
365,000 shares
________________________________________________________________________________
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares*
[_]
________________________________________________________________________________
13 Percent of Class Represented by Amount in Row (11)
6.7%
________________________________________________________________________________
14 Type of Reporting Person*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- 3 of 26 -
<PAGE>
CUSIP
No. 741437305 13D
================================================================================
1 Name of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
21st Century Communications Foreign Partners, 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
________________________________________________________________________________
7 Sole Voting Power
Number of 33,318 shares .6%
Shares _________________________________________________________________
8 Shared Voting Power
Beneficially
331,682 shares 6.0%
Owned by
_________________________________________________________________
Each 9 Sole Dispositive Power
Reporting 33,318 shares .6%
Person _________________________________________________________________
10 Shared Dispositive Power
With
331,682 shares 6.0%
________________________________________________________________________________
11 Aggregate Amount Beneficially Owned by Each Reporting Person
365,000 shares
________________________________________________________________________________
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares*
[_]
________________________________________________________________________________
13 Percent of Class Represented by Amount in Row (11)
6.7%
________________________________________________________________________________
14 Type of Reporting Person*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- 4 of 26 -
<PAGE>
CUSIP
No. 741437305 13D
================================================================================
1 Name of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
Sandler Capital Management
________________________________________________________________________________
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
New York
________________________________________________________________________________
7 Sole Voting Power
Number of 273,760 shares 5.0%
Shares _________________________________________________________________
8 Shared Voting Power
Beneficially
365,000 shares 6.7%
Owned by
_________________________________________________________________
Each 9 Sole Dispositive Power
Reporting 273,760 shares 5.0%
Person _________________________________________________________________
10 Shared Dispositive Power
With
365,000 shares 6.7%
________________________________________________________________________________
11 Aggregate Amount Beneficially Owned by Each Reporting Person
638,760 shares
________________________________________________________________________________
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares*
[_]
________________________________________________________________________________
13 Percent of Class Represented by Amount in Row (11)
11.6%
________________________________________________________________________________
14 Type of Reporting Person*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- 5 of 26 -
<PAGE>
CUSIP
No. 74147305 13D
================================================================================
1 Name of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
Michael J. Marocco
________________________________________________________________________________
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
United States
________________________________________________________________________________
7 Sole Voting Power
Number of 0 shares 0%
Shares _________________________________________________________________
8 Shared Voting Power
Beneficially
818,760 shares 14.9%
Owned by
_________________________________________________________________
Each 9 Sole Dispositive Power
Reporting 0 shares 0%
Person _________________________________________________________________
10 Shared Dispositive Power
With
818,760 shares 14.9%
________________________________________________________________________________
11 Aggregate Amount Beneficially Owned by Each Reporting Person
818,760 shares
________________________________________________________________________________
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares*
[_]
________________________________________________________________________________
13 Percent of Class Represented by Amount in Row (11)
14.9%
________________________________________________________________________________
14 Type of Reporting Person*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- 6 of 26 -
<PAGE>
CUSIP
No. 74147305 13D
================================================================================
1 Name of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
John Kornreich
________________________________________________________________________________
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
United States
________________________________________________________________________________
7 Sole Voting Power
Number of 0 shares 0%
Shares _________________________________________________________________
8 Shared Voting Power
Beneficially
818,760 shares 14.9%
Owned by
_________________________________________________________________
Each 9 Sole Dispositive Power
Reporting 0 shares 0%
Person _________________________________________________________________
10 Shared Dispositive Power
With
818,760 shares 14.9%
________________________________________________________________________________
11 Aggregate Amount Beneficially Owned by Each Reporting Person
818,760 shares
________________________________________________________________________________
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares*
[_]
________________________________________________________________________________
13 Percent of Class Represented by Amount in Row (11)
14.9%
________________________________________________________________________________
14 Type of Reporting Person*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- 7 of 26 -
<PAGE>
CUSIP
No. 74147305 13D
================================================================================
1 Name of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
Harvey Sandler
________________________________________________________________________________
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
United States
________________________________________________________________________________
7 Sole Voting Power
Number of 109,200 shares 2.0%
Shares _________________________________________________________________
8 Shared Voting Power
Beneficially
829,760 shares 15.1%
Owned by
_________________________________________________________________
Each 9 Sole Dispositive Power
Reporting 109,200 shares 2.0%
Person _________________________________________________________________
10 Shared Dispositive Power
With
829,760 shares 15.1%
________________________________________________________________________________
11 Aggregate Amount Beneficially Owned by Each Reporting Person
938,960 shares
________________________________________________________________________________
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares*
[_]
________________________________________________________________________________
13 Percent of Class Represented by Amount in Row (11)
17.1%
________________________________________________________________________________
14 Type of Reporting Person*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- 8 of 26 -
<PAGE>
CUSIP
No. 74147305 13D
================================================================================
1 Name of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
Andrew Sandler
________________________________________________________________________________
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
United States
________________________________________________________________________________
7 Sole Voting Power
Number of 0 shares 0%
Shares _________________________________________________________________
8 Shared Voting Power
Beneficially
818,760 shares 14.9%
Owned by
_________________________________________________________________
Each 9 Sole Dispositive Power
Reporting 0 shares 0%
Person _________________________________________________________________
10 Shared Dispositive Power
With
818,760 shares 14.9%
________________________________________________________________________________
11 Aggregate Amount Beneficially Owned by Each Reporting Person
818,760 shares
________________________________________________________________________________
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares*
[_]
________________________________________________________________________________
13 Percent of Class Represented by Amount in Row (11)
14.9%
________________________________________________________________________________
14 Type of Reporting Person*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- 9 of 26 -
<PAGE>
CUSIP
No. 74147305 13D
================================================================================
1 Name of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
Barry Rubenstein
________________________________________________________________________________
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
United States
________________________________________________________________________________
7 Sole Voting Power
Number of 0 shares 0%
Shares _________________________________________________________________
8 Shared Voting Power
Beneficially
365,000 shares 6.7%
Owned by
_________________________________________________________________
Each 9 Sole Dispositive Power
Reporting 0 shares 0%
Person _________________________________________________________________
10 Shared Dispositive Power
With
365,000 shares 6.7%
________________________________________________________________________________
11 Aggregate Amount Beneficially Owned by Each Reporting Person
365,000 shares
________________________________________________________________________________
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares*
[_]
________________________________________________________________________________
13 Percent of Class Represented by Amount in Row (11)
6.7%
________________________________________________________________________________
14 Type of Reporting Person*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- 10 of 26 -
<PAGE>
CUSIP
No. 74147305 13D
================================================================================
1 Name of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
Barry Fingerhut
________________________________________________________________________________
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
United States
________________________________________________________________________________
7 Sole Voting Power
Number of 0 shares 0%
Shares _________________________________________________________________
8 Shared Voting Power
Beneficially
365,000 shares 6.7%
Owned by
_________________________________________________________________
Each 9 Sole Dispositive Power
Reporting 0 shares 0%
Person _________________________________________________________________
10 Shared Dispositive Power
With
365,000 shares 6.7%
________________________________________________________________________________
11 Aggregate Amount Beneficially Owned by Each Reporting Person
365,000 shares
________________________________________________________________________________
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares*
[_]
________________________________________________________________________________
13 Percent of Class Represented by Amount in Row (11)
6.7%
________________________________________________________________________________
14 Type of Reporting Person*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- 11 of 26 -
<PAGE>
CUSIP
No. 74147305 13D
================================================================================
1 Name of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
Irwin Lieber
________________________________________________________________________________
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
United States
________________________________________________________________________________
7 Sole Voting Power
Number of 0 shares 0%
Shares _________________________________________________________________
8 Shared Voting Power
Beneficially
365,000 shares 6.7%
Owned by
_________________________________________________________________
Each 9 Sole Dispositive Power
Reporting 0 shares 0%
Person _________________________________________________________________
10 Shared Dispositive Power
With
365,000 shares 6.7%
________________________________________________________________________________
11 Aggregate Amount Beneficially Owned by Each Reporting Person
365,000 shares
________________________________________________________________________________
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares*
[_]
________________________________________________________________________________
13 Percent of Class Represented by Amount in Row (11)
6.7%
________________________________________________________________________________
14 Type of Reporting Person*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- 12 of 26 -
<PAGE>
CUSIP
No. 74147305 13D
================================================================================
1 Name of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
Phyllis Sandler
________________________________________________________________________________
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
United States
________________________________________________________________________________
7 Sole Voting Power
Number of 11,000 shares 0.2%
Shares _________________________________________________________________
8 Shared Voting Power
Beneficially
109,200 shares 2.0%
Owned by
_________________________________________________________________
Each 9 Sole Dispositive Power
Reporting 11,000 shares 0.2%
Person _________________________________________________________________
10 Shared Dispositive Power
With
109,200 shares 2.0%
________________________________________________________________________________
11 Aggregate Amount Beneficially Owned by Each Reporting Person
120,200 shares
________________________________________________________________________________
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares*
[_]
________________________________________________________________________________
13 Percent of Class Represented by Amount in Row (11)
2.2%
________________________________________________________________________________
14 Type of Reporting Person*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- 13 of 26 -
<PAGE>
CUSIP
No. 74147305 13D
================================================================================
1 Name of Reporting Persons
I.R.S. Identification Nos. of Above Persons (Entities Only)
Sandler Associates
________________________________________________________________________________
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
New York
________________________________________________________________________________
7 Sole Voting Power
Number of 180,000 shares 3.3%
Shares _________________________________________________________________
8 Shared Voting Power
Beneficially
0 shares 0%
Owned by
_________________________________________________________________
Each 9 Sole Dispositive Power
Reporting 180,000 shares 3.3%
Person _________________________________________________________________
10 Shared Dispositive Power
With
0 shares 0%
________________________________________________________________________________
11 Aggregate Amount Beneficially Owned by Each Reporting Person
180,000 shares
________________________________________________________________________________
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares*
[_]
________________________________________________________________________________
13 Percent of Class Represented by Amount in Row (11)
3.3%
________________________________________________________________________________
14 Type of Reporting Person*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
- 14 of 26 -
<PAGE>
This statement, dated December 4, 1997, constitutes Amendment No. 1 to the
Schedule 13D, dated October 6, 1997, regarding the reporting persons ownership
of certain securities of Price Communications Corporation (the "Issuer").
This Schedule 13D is hereinafter referred to as the "Schedule". All
capitalized terms used herein and otherwise undefined shall have the meanings
ascribed in the Schedule.
This Amendment No. 1 to the Schedule is filed in accordance with Rule 13d-2
of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), by the
reporting persons. It shall refer only to information which has materially
changed since the filing of the Schedule.
ITEM 2. Identity and Background.
13. (a) Sandler Associates, a limited partnership organized under the laws
of the State of New York.
(b) Address:
767 Fifth Avenue, 45th Floor
New York, New York 10153
(c) Principal Occupation: Investments.
(d) No.
(e) No.
Each of Harvey Sandler, John Kornreich, Michael Marocco and Andrew Sandler
is a general partner of Sandler Associates.
ITEM 3. Source and Amount of Funds or Other Consideration.
The source of funds for the acquisition of the additional securities was
the working capital in the personal investment accounts of Harvey Sandler and
Phyllis Sandler.
The amount of funds used in acquiring the additional shares of Common Stock
are set forth below:
- 15 of 26 -
<PAGE>
Number of Purchase
Shares Price
----------------- -------------------
Harvey Sandler 53,200 $379,497
Phyllis Sandler 4,000 $34,000
ITEM 4. Purpose of Transaction.
The reporting persons acquired their securities for the purposes of
investment.
Other than the reporting persons purchase or sale of additional securities
of the Issuer, no reporting person has any present plans or proposals which
would relate to or result in any of the matters set forth in subparagraphs (a)
through (j) of Item 4 of Schedule 13D, except as set forth herein.
ITEM 5. Interests in Securities of the Issuer.
(a) The following list sets forth the aggregate number and percentage
(based on 5,483,881 shares of Common Stock outstanding as reported by the Issuer
as of October 29, 1997 in its Form 10-Q for the quarter ended September 30,
1997) of outstanding shares of Common Stock owned beneficially by each reporting
person named in Item 2, as of December 4, 1997:
<TABLE>
<CAPTION>
Shares of Percentage of Shares
Common Stock of Common Stock
Name Beneficially Owned(2) Beneficially Owned(2)
- ---- ------------------- -------------------
<S> <C> <C>
21st Century Communications 365,000(3) 6.7%
Partners, L.P.
21st Century Communications T-E 365,000(4) 6.7%
Partners, L.P.
21st Century Communications Foreign 365,000(5) 6.7%
Partners, L.P.
</TABLE>
- --------
(2) Includes shares of Common Stock issuable upon the exercise of the Warrants.
(3) Includes 247,480 shares of Common Stock owned by 21st Century. 21st Century
disclaims beneficial ownership of 84,202 shares of Common Stock owned by
T-E and 33,318 shares of Common Stock owned by Foreign.
(4) Includes 84,202 shares of Common Stock owned by T-E. T-E disclaims
beneficial ownership of 247, 480 shares of Common Stock owned by 21st
Century and 33,318 shares of Common Stock owned by Foreign.
(5) Includes 33,318 shares of Common Stock owned by Foreign. Foreign disclaims
beneficial ownership of 247,480 shares of Common Stock owned by 21st
Century and 84,202 shares of Common Stock owned by T-E.
- 16 of 26 -
<PAGE>
Shares of Percentage of Shares of
Common Stock Common Stock
Name Beneficially Owned(2) Beneficially Owned(2)
- ---- -------------------- ---------------------
Sandler Capital Management 638,760(6) 11.6%
Michael J. Marocco 818,760(7,8) 14.9%
John Kornreich 818,760(7,8) 14.9%
Harvey Sandler 938,960(7,8,9,11) 17.1%
Andrew Sandler 818,760(7,8) 14.9%
Barry Rubenstein 365,000(7,10) 6.7%
Barry Fingerhut 365,000(7,10) 6.7%
Irwin Lieber 365,000(7,10) 6.7%
Phyllis Sandler 121,600(7,9,11) 2.2%
Sandler Associates 180,000(12) 3.3%
(b) 21st Century has sole power to vote and to dispose of 247,480 shares of
Common Stock, representing approximately 4.5% of the outstanding Common Stock.
21st Century may be deemed to have shared power to vote and to dispose of
117,520 shares of Common Stock, representing approximately 2.1% of the
outstanding Common Stock.
T-E has sole power to vote and to dispose of 84,202 shares of Common Stock,
representing approximately 1.5% of the outstanding Common Stock. T-E may be
deemed to have shared power
- --------
(6) Includes 247,480 shares of Common Stock owned by 21st Century, 84,202
shares of Common Stock owned by T-E and 33,318 shares of Common Stock owned
by Foreign. SCM disclaims beneficial ownership of 260,000 shares of Common
Stock and 13,760 shares of Common Stock issuable upon the exercise of the
Warrants held in accounts managed by SCM.
(7) The reporting person disclaims beneficial ownership of these securities,
except to the extent of his/her equity interest therein.
(8) Includes 247,480 shares of Common Stock owned by 21st Century, 84,202
shares of Common Stock owned by T-E, 33,318 shares of Common Stock owned by
Foreign and 180,000 shares of Common Stock owned by Sandler Associates. The
reporting person disclaims beneficial ownership of 260,000 shares of Common
Stock and 13,760 shares of Common Stock issuable upon the exercise of the
Warrants held in accounts managed by SCM.
(9) Includes 109,200 shares of Common Stock owned by Harvey Sandler.
(10) Includes 247,480 shares of Common Stock owned by 21st Century, 84,202
shares of Common Stock owned by T-E and 33,318 shares of Common Stock owned
by Foreign.
(11) Includes 11,000 shares of Common Stock owned by Phyllis Sandler.
(12) Includes 180,000 shares of Common Stock owned by Sandler Associates.
- 17 of 26 -
<PAGE>
to vote and to dispose of 280,798 shares of Common Stock, representing
approximately 5.1% of the outstanding Common Stock.
Foreign has sole power to vote and to dispose of 33,318 shares of Common
Stock, representing approximately .6% of the outstanding Common Stock. Foreign
may be deemed to have shared power to vote and to dispose of 331,682 shares of
Common Stock, representing approximately 6.0% of the outstanding Common Stock.
By virtue of being the general partner of SIP and the manager of certain
accounts owning shares of Common Stock and Warrants with respect to which SCM
exercises investment discretion, SCM may be deemed to have shared power to vote
and to dispose of 638,760 shares of Common Stock (which includes shares of
Common Stock issuable upon the exercise of the Warrants), representing
approximately 11.6% of the outstanding Common Stock.
By virtue of being the sole shareholder of MJDM Corp. and a general partner
of Sandler Associates, Michael J. Marocco may be deemed to have shared power to
vote and to dispose of 818,760 shares of Common Stock (which includes shares of
Common Stock issuable upon the exercise of the Warrants), representing
approximately 14.9% of the outstanding Common Stock.
By virtue of being the sole shareholder of Four JK Corp. and a general
partner of Sandler Associates, John Kornreich may be deemed to have shared power
to vote and to dispose of 818,760 shares of Common Stock (which includes shares
of Common Stock issuable upon the exercise of the Warrants), representing
approximately 14.9% of the outstanding Common Stock.
By virtue of being the sole shareholder of ARH Corp., a general partner of
Sandler Associates, and the husband of Phyllis Sandler, Harvey Sandler may be
deemed to have shared power to vote and to dispose of 829,760 shares of Common
Stock (which includes shares of Common Stock issuable upon the exercise of the
Warrants), representing approximately 15.1% of the outstanding Common Stock.
Harvey Sandler has sole power to vote and to dispose of 109,200 shares of Common
Stock, representing approximately 2.0% of the outstanding Common Stock.
By virtue of being a majority member of ALSI, LLC and a general partner of
Sandler Associates, Andrew Sandler may be deemed to have shared power to vote
and to dispose of 818,760 shares of Common Stock (which includes shares of
Common Stock issuable upon the exercise of the Warrants), representing
approximately 14.9% of the outstanding Common Stock.
By virtue of being a shareholder, officer and director of Infomedia, Barry
Rubenstein may be deemed to have shared power to vote and to dispose of 365,000
shares of Common Stock, representing approximately 6.7% of the outstanding
Common Stock.
By virtue of being a shareholder, officer and director of Infomedia, Irwin
Lieber may be deemed to have shared power to vote and to dispose of 365,000
shares of Common Stock, representing approximately 6.7% of the outstanding
Common Stock.
- 18 of 26 -
<PAGE>
By virtue of being a shareholder, officer and director of Infomedia, Barry
Fingerhut may be deemed to have shared power to vote and to dispose of 365,000
shares of Common Stock, representing approximately 6.7% of the outstanding
Common Stock.
By virtue of being the wife of Harvey Sandler, Phyllis Sandler may be
deemed to have shared power to vote and to dispose of 109,200 shares of Common
Stock, representing approximately 2.0% of the outstanding Common Stock. Phyllis
Sandler has sole power to vote and to dispose of 11,000 shares of Common Stock,
representing approximately 0.2% of the outstanding Common Stock.
Sandler Associates has sole power to vote and to dispose of 180,000 shares
of Common Stock, representing approximately 3.3% of the outstanding Common
Stock.
(c) The following is a description of all transactions in the shares of
Common Stock and the Warrants by the persons identified in Item 2 of this
Schedule 13D effected from October 9, 1997 through December 4, 1997, inclusive:
Number of Shares
Purchase or of Common Stock Purchase or
Name of Shareholder Sale Date Purchased or (Sold) Sale Price
- -------------------- --------- ------------------- -----------
Harvey Sandler 10/14/97 5,000 $ 8.75
10/29/97 5,000 $ 8.625
10/30/97 5,000 $ 8.375
10/30/97 5,000 $ 8.437
11/13/97 3,000 $ 8.4375
11/14/97 4,000 $ 8.4387
11/28/97 4,000 $10.50
11/28/97 2,300 $10.375
11/28/97 5,000 $10.75
11/28/97 3,200 $10.875
12/01/97 2,400 $10.625
12/01/97 300 $10.375
12/04/97 6,000 $10.62
12/04/97 3,000 $10.50
Phyllis Sandler 10/29/97 2,000 $ 8.625
10/31/97 2,000 $ 8.375
All purchases of Common Stock were effected in open market transactions on
the American Stock Exchange.
(d) No other person has the right to receive or the power to direct the
receipt of dividends from, or the proceeds from the sale of such securities.
(e) Not applicable.
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<PAGE>
ITEM 7. Material to be filed as Exhibits.
Exhibit 7.01 Agreement effective as of December 4, 1997, among the
reporting persons by which they have agreed to file this
Schedule 13D and all necessary amendments, as required by
Rule 13d-1(f).
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<PAGE>
Signature
After reasonable inquiry and to the best of their knowledge and belief,
each of the undersigned hereby certifies that the information set forth in this
Schedule is true, complete, and correct.
Date: April 30, 1999
21ST CENTURY COMMUNICATIONS PARTNERS, L.P.
By: Sandler Investment Partners, L.P., general partner
By: Sandler Capital Management, general partner
By: ARH Corp., general partner
By: Edward Grinacoff
---------------------------------------
Name: Edward Grinacoff
Title: Secretary and Treasurer
21ST CENTURY COMMUNICATIONS T-E PARTNERS L.P.
By: Sandler Investment Partners, L.P., general partner
By: Sandler Capital Management, general partner
By: ARH Corp., general partner
By: Edward Grinacoff
---------------------------------------
Name: Edward Grinacoff
Title: Secretary and Treasurer
21ST CENTURY COMMUNICATIONS FOREIGN PARTNERS, L.P.
By: Sandler Investment Partners, L.P.,
general partner
By: Sandler Capital Management, general partner
By: ARH Corp., general partner
By: Edward Grinacoff
---------------------------------------
Name: Edward Grinacoff
Title: Secretary and Treasurer
- 21 of 26 -
<PAGE>
Michael J. Marocco
---------------------------------------
Michael J. Marocco
John Kornreich
---------------------------------------
John Kornreich
Harvey Sandler
---------------------------------------
Harvey Sandler
Andrew Sandler
---------------------------------------
Andrew Sandler
Barry Rubenstein
---------------------------------------
Barry Rubenstein
Irwin Lieber
---------------------------------------
Irwin Lieber
Barry Fingerhut
---------------------------------------
Barry Fingerhut
SANDLER ASSOCIATES
By: Andrew Sandler
---------------------------------------
Name: Andrew Sandler
Title: General Partner
- 22 of 26 -
<PAGE>
SANDLER CAPITAL MANAGEMENT
By: ARH Corp.
By: Edward Grinacoff
---------------------------------------
Name: Edward Grinacoff
Title: Secretary and Treasurer
Phyllis Sandler
---------------------------------------
Phyllis Sandler
ATTENTION: INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACT CONSTITUTE FEDERAL
CRIMINAL VIOLATIONS (SEE 18 U.S.C. 1001).
- 23 of 26 -
<PAGE>
Exhibit 7.01
JOINT FILING AGREEMENT
In accordance with Rule 13d-1(f) under the Securities Exchange Act of 1934,
as amended, the undersigned hereby agree to the joint filing on behalf of each
of them of a statement on Schedule 13D (including amendments thereto) with
respect to the Common Stock, par value $.01 per share, of Price Communications
Corporation and that this Agreement be filed as an Exhibit to such statement on
Schedule 13D.
IN WITNESS WHEREOF, the undersigned hereby execute this Agreement effective
as of the 4th day of December, 1997.
21ST CENTURY COMMUNICATIONS PARTNERS, L.P.
By: Sandler Investment Partners, L.P., general partner
By: Sandler Capital Management, general partner
By: ARH Corp., general partner
By: Edward Grinacoff
--------------------------------------
Name: Edward Grinacoff
Title: Secretary and Treasurer
21ST CENTURY COMMUNICATIONS T-E PARTNERS, L.P.
By: Sandler Investment Partners, L.P., general partner
By: Sandler Capital Management, general partner
By: ARH Corp., general partner
By: Edward Grinacoff
--------------------------------------
Name: Edward Grinacoff
Title: Secretary and Treasurer
21ST CENTURY COMMUNICATIONS FOREIGN PARTNERS, L.P.
By: Sandler Investment Partners, L.P., general partner
By: Sandler Capital Management, general partner
By: ARH Corp., general partner
By: Edward Grinacoff
--------------------------------------
Name: Edward Grinacoff
Title: Secretary and Treasurer
- 25 of 26 -
<PAGE>
Michael J. Marocco
--------------------------------------
Michael J. Marocco
John Kornreich
--------------------------------------
John Kornreich
Harvey Sandler
--------------------------------------
Harvey Sandler
Andrew Sandler
--------------------------------------
Andrew Sandler
Barry Rubenstein
--------------------------------------
Barry Rubenstein
Irwin Lieber
--------------------------------------
Irwin Lieber
Barry Fingerhut
--------------------------------------
Barry Fingerhut
SANDLER ASSOCIATES
By: Andrew Sandler
--------------------------------------
Name: Andrew Sandler
Title: General Partner
- 25 of 26 -
<PAGE>
SANDLER CAPITAL MANAGEMENT
By: ARH Corp.
By: Edward Grinacoff
--------------------------------------
Name: Edward Grinacoff
Title: Secretary and Treasurer
Phyllis Sandler
--------------------------------------
Phyllis Sandler
- 26 of 26 -
