<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENT FILED
PURSUANT TO RULE 13d-1(a) AND AMENDMENTS THERETO
FILED PURSUANT TO RULE 13d-2(a)
Original Filing*
GYRODYNE COMPANY OF AMERICA, INC
- - - - - - - - - - - - - - - - - - - - - --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock
- - - - - - - - - - - - - - - - - - - - - --------------------------------------------------------------------------------
(Title of Class of Securities)
403820103
-----------------------------------
(CUSIP NUMBER)
Donald J. Savage, K Capital Partners, LLC
441 Stuart Street, 6th Floor
Boston, Massachusetts 02116
- - - - - - - - - - - - - - - - - - - - - --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
June 3, 1999
-------------------------------------------------------
(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(e), 13d-1(f) or 13d-1(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.
*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 and 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>
<TABLE>
<CAPTION>
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CUSIP No. 403820103 Page 2 of 15 Pages
- - - - - - - - - - - - - - - - - - - - - -------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
K Capital Partners, LLC
- - - - - - - - - - - - - - - - - - - - - -------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / /
(b) / /
- - - - - - - - - - - - - - - - - - - - - -------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- - - - - - - - - - - - - - - - - - - - - -------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
AF
- - - - - - - - - - - - - - - - - - - - - -------------------------------------------------------------------------------------------------------------------
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 SHARES 7 SOLE VOTING POWER
BENEFICIALLY OWNED BY
EACH REPORTING PERSON 55,996
WITH
----------------------------------------------------------------------------------------
8 SHARED VOTING POWER
0
----------------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
55,996
----------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- - - - - - - - - - - - - - - - - - - - - -------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
55,996
- - - - - - - - - - - - - - - - - - - - - -------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
- - - - - - - - - - - - - - - - - - - - - -------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.15%
- - - - - - - - - - - - - - - - - - - - - -------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
00
- - - - - - - - - - - - - - - - - - - - - -------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
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CUSIP No. 403820103 Page 3 of 15 Pages
- - - - - - - - - - - - - - - - - - - - - -------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
K Capital I, 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 SHARES 7 SOLE VOTING POWER
BENEFICIALLY OWNED BY
EACH REPORTING PERSON 1,286
WITH
----------------------------------------------------------------------------------------
8 SHARED VOTING POWER
0
----------------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
1,286
----------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- - - - - - - - - - - - - - - - - - - - - -------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,286
- - - - - - - - - - - - - - - - - - - - - -------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
- - - - - - - - - - - - - - - - - - - - - -------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.12%
- - - - - - - - - - - - - - - - - - - - - -------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- - - - - - - - - - - - - - - - - - - - - -------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
- - - - - - - - - - - - - - - - - - - - - -------------------------------------------------------------------------------------------------------------------
CUSIP No. 403820103 Page 4 of 15 Pages
- - - - - - - - - - - - - - - - - - - - - -------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
K Capital II, 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 SHARES 7 SOLE VOTING POWER
BENEFICIALLY OWNED BY
EACH REPORTING PERSON 54,710
WITH
----------------------------------------------------------------------------------------
8 SHARED VOTING POWER
0
----------------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
54,710
----------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- - - - - - - - - - - - - - - - - - - - - -------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
54,710
- - - - - - - - - - - - - - - - - - - - - -------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
- - - - - - - - - - - - - - - - - - - - - -------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.03%
- - - - - - - - - - - - - - - - - - - - - -------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- - - - - - - - - - - - - - - - - - - - - -------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
- - - - - - - - - - - - - - - - - - - - - -------------------------------------------------------------------------------------------------------------------
CUSIP No. 403820103 Page 5 of 15 Pages
- - - - - - - - - - - - - - - - - - - - - -------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Harwich Capital Partners, LLC
- - - - - - - - - - - - - - - - - - - - - -------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / /
(b) / /
- - - - - - - - - - - - - - - - - - - - - -------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- - - - - - - - - - - - - - - - - - - - - -------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
AF
- - - - - - - - - - - - - - - - - - - - - -------------------------------------------------------------------------------------------------------------------
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 SHARES 7 SOLE VOTING POWER
BENEFICIALLY OWNED BY
EACH REPORTING PERSON 55,996
WITH
----------------------------------------------------------------------------------------
8 SHARED VOTING POWER
0
----------------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
55,996
----------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- - - - - - - - - - - - - - - - - - - - - -------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
55,996
- - - - - - - - - - - - - - - - - - - - - -------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
- - - - - - - - - - - - - - - - - - - - - -------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.15%
- - - - - - - - - - - - - - - - - - - - - -------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
00
- - - - - - - - - - - - - - - - - - - - - -------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
- - - - - - - - - - - - - - - - - - - - - -------------------------------------------------------------------------------------------------------------------
CUSIP No. 403820103 Page 6 of 15 Pages
- - - - - - - - - - - - - - - - - - - - - -------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Thomas Knott
- - - - - - - - - - - - - - - - - - - - - -------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / /
(b) / /
- - - - - - - - - - - - - - - - - - - - - -------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- - - - - - - - - - - - - - - - - - - - - -------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
AF
- - - - - - - - - - - - - - - - - - - - - -------------------------------------------------------------------------------------------------------------------
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. Citizen
- - - - - - - - - - - - - - - - - - - - - -------------------------------------------------------------------------------------------------------------------
NUMBER OF SHARES 7 SOLE VOTING POWER
BENEFICIALLY OWNED BY
EACH REPORTING PERSON 55,996
WITH
----------------------------------------------------------------------------------------
8 SHARED VOTING POWER
0
----------------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
55,996
----------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- - - - - - - - - - - - - - - - - - - - - -------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
55,996
- - - - - - - - - - - - - - - - - - - - - -------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
- - - - - - - - - - - - - - - - - - - - - -------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.15%
- - - - - - - - - - - - - - - - - - - - - -------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- - - - - - - - - - - - - - - - - - - - - -------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
- - - - - - - - - - - - - - - - - - - - - -------------------------------------------------------------------------------------------------------------------
CUSIP No. 403820103 Page 7 of 15 Pages
- - - - - - - - - - - - - - - - - - - - - -------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Abner Kurtin
- - - - - - - - - - - - - - - - - - - - - -------------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) / /
(b) / /
- - - - - - - - - - - - - - - - - - - - - -------------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- - - - - - - - - - - - - - - - - - - - - -------------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
AF
- - - - - - - - - - - - - - - - - - - - - -------------------------------------------------------------------------------------------------------------------
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. Citizen
- - - - - - - - - - - - - - - - - - - - - -------------------------------------------------------------------------------------------------------------------
NUMBER OF SHARES 7 SOLE VOTING POWER
BENEFICIALLY OWNED BY
EACH REPORTING PERSON 55,996
WITH
----------------------------------------------------------------------------------------
8 SHARED VOTING POWER
0
----------------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
55,996
----------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- - - - - - - - - - - - - - - - - - - - - -------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
55,996
- - - - - - - - - - - - - - - - - - - - - -------------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
- - - - - - - - - - - - - - - - - - - - - -------------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.15%
- - - - - - - - - - - - - - - - - - - - - -------------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- - - - - - - - - - - - - - - - - - - - - -------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
ITEM 1. SECURITY AND ISSUER
This Report on Schedule 13D relates to shares of common stock, par
value $1.00 per share (the "Common Stock"), of GYRODYNE Company of America, Inc.
(the "Company"), whose principal executive offices are located at 17 Flowerfield
Street, Suite 15, St. James, New York 11780.
ITEM 2. IDENTITY AND BACKGROUND
This Report is filed by K Capital Partners I, L.P. and K Capital
Partners II, L.P., each a Delaware limited partnership (collectively the
"Partnership"), having its principal place of business and executive offices at
c/o K Capital Partners, LLC, 441 Stuart Street, 6th Floor, Boston, MA 02116; and
K Capital Partners, LLC, a Delaware limited liability company and the sole
General Partner of the Partnership (the "General Partner") having its principal
place of business and executive offices at 441 Stuart Street, 6th Floor, Boston,
MA 02116; Harwich Capital Partners, LLC, a Delaware limited liability company
and the Managing Member of the General Partner having its principal place of
business at 441 Stuart Street, 6th floor, Boston, Massachusetts 02116; and
Thomas Knott and Abner Kurtin, each of whom are the Managing Members of Harwich
Capital Partners, LLC, having its principal business address c/o K Capital
Partner, LLC, 441 Stuart Street, 6th floor, Boston, Massachusetts 02116
(collectively, the "Reporting Persons"). The principal business of each
Reporting Person is to administer, promote, manage and advise private investment
pools and any business related thereto or useful in connection therewith.
K Capital Partners, LLC is the sole general partner of the Partnership.
During the past five years or since their inception, the Reporting
Persons have not been convicted in a criminal proceeding (excluding traffic
violations or similar misdemeanors), and have not been a party to a civil
proceeding of a judicial or administrative body of competent jurisdiction and
are not, as a result of any such proceeding, 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.
Mr. Knott and Mr. Kurtin are United States citizens.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
The source of funds for the transactions described in Item 5(c) were
assets of the Partnership.
ITEM 4. PURPOSE OF TRANSACTION
The Partnership acquired the Common Stock described in Item 5(c) for
investment purposes. None of the Reporting Persons have any current plans or
proposals which relate to or would result in:
a. The acquisition by any person of additional securities of the
issuer, or the disposition of securities of the issuer;
8
<PAGE>
b. An extraordinary corporate transaction, such as a merger,
reorganization or liquidation, involving the issuer or any of
its subsidiaries;
c. A sale or transfer of a material amount of assets of the
issuer or any of its subsidiaries;
d. Any change in the present board of directors or management of
the issuer, including any plans or proposals to change the
number or term of directors or to fill any existing vacancies
on the board;
e. Any material change in the present capitalization or dividend
policy of the issuer;
f. Any other material change in the issuer's business or
corporate structure including but not limited to, if the
issuer is a registered closed-end investment company, any
plans or proposals to make any change in its investment policy
for which a vote is required by Section 13 of the Investment
Company Act of 1940;
g. Changes in the issuer's charter, bylaws or instruments
corresponding thereto or other actions which may impede the
acquisition of control of the issuer by any person;
h. Causing a class of securities of the issuer to be delisted
from a national securities exchange or to cease to be
authorized to be quoted in an inter-dealer quotation system of
a registered national securities association;
i. A class of equity securities of the issuer becoming eligible
for termination of registration pursuant to Section 1(g)(4) of
the Securities Exchange Act of 1934; or
j. Any action similar to any of those enumerated above.
The Reporting Persons believe that the market price of the
Company's common stock does not fully reflect the potential
value of such shares. Depending upon the market price, it is
possible that the Reporting Persons will acquire additional
shares of the Company's common stock. The Reporting Persons
are evaluating alternatives that may be proposed by the
Reporting Persons to the Company's management or shareholders
in order to realize this potential value. The Reporting
Persons currently have no specific plans or proposals. There
can be no assurance that any specific plans or proposals will
be identified or proposed and if identified or proposed, will
be successful in realizing such potential value.
9
<PAGE>
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
a. As of June 3, 1999, the Partnership may be deemed to
beneficially own 55,996 shares of Common Stock of the Company.
Based upon their being 1,086,989 shares of Common Stock
outstanding, the shares of Common Stock which the Partnership
may be deemed to beneficially own represents approximately
5.15% of the outstanding shares of Common Stock of the
Company.
b. In accordance with the Agreement of Limited Partnership, the
General partner has the sole power to vote and the sole power
to dispose of the shares of Common Stock of the Company held
by the Partnership.
c. The Partnership has made the following purchases of shares of
Common Stock:
<TABLE>
<CAPTION>
-------------------------------------------------------------------------------
K Capital I, L.P.
-------------------------------------------------------------------------------
Aggregate
Transaction Date # of Shares Price Per Share Purchase Price
-------------------------------------------------------------------------------
<S> <C> <C> <C>
6/2/99 654 14.00 9,156
-------------------------------------------------------------------------------
6/3/99 632 14.00 8,848
-------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
-------------------------------------------------------------------------------
K Capital II, L.P.
-------------------------------------------------------------------------------
Aggregate
Transaction Date # of Shares Price Per Share Purchase Price
-------------------------------------------------------------------------------
<S> <C> <C> <C>
4/6/99 2,560 14.00 35,840
-------------------------------------------------------------------------------
4/6/99 740 14.00 10,360
-------------------------------------------------------------------------------
6/2/99 26,142 14.00 365,988
-------------------------------------------------------------------------------
6/3/99 26,268 14.00 367,752
-------------------------------------------------------------------------------
</TABLE>
All transactions were made in the open market on NASDAQ.
d. Each Partnership is a limited partnerships. Each Member of the
Partnership is entitled to receive certain distributions from
the Partnership's assets as specified in the Partnership's
governing documents.
10
<PAGE>
e. Not Applicable.
The filing of this statement shall not be construed as an admission
that any of the Reporting Persons are, for the purposes of Sections 13(d) or
13(g) of the Securities Exchange Act of 1934, the beneficial owners of any
securities covered by this statement.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH
RESPECT TO SECURITIES OF THE ISSUER
There are no contracts, arrangements, understandings or relationships
(legal or otherwise) between or among any of the Reporting Persons and any other
person with respect to any securities of the Company other than the governing
documents of the Partnership.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
Exhibit 1 - Agreement regarding filing of joint Schedule 13D.
11
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of the knowledge and belief of
the undersigned, each of the undersigned hereby certifies that the information
set forth in this statement is true, complete and correct.
EXECUTED as a sealed instrument this 14th day of June, 1999.
K Capital I, L.P.
By: /s/ Thomas Knott
-----------------------------------------
K Capital Partners, LLC, General
Partner by: Harwich Capital
Partners LLC, its Managing
Member, by Thomas Knott, its
Managing Member
K Capital II, L.P.
By: /s/Thomas Knott
-----------------------------------------
K Capital Partners, LLC, General
Partner by: Harwich Capital
Partners LLC, its Managing
Member, by Thomas Knott, its
Manager Member
K Capital Partners, LLC
By: /s/ Thomas Knott
-----------------------------------------
Harwich Capital Partners, LLC
by Thomas Knott, its Managing
Member
Harwich Capital Partners, LLC
By: /s/ Thomas Knott
-----------------------------------------
Thomas Knott, its Managing
Member
/s/ Thomas Knott
---------------------------------------------
Thomas Knott
/s/ Abner Kurtin
---------------------------------------------
Abner Kurtin
12
<PAGE>
EXHIBIT 1
AGREEMENT
Pursuant to Rule 13d-1(f)(1) under the Securities Exchange Act of 1934,
as amended, the undersigned hereby agree that only one statement containing the
information required by Schedule 13D need be filed with respect to the ownership
by each of the undersigned of the shares of Common Stock of GYRODYNE Company of
America, Inc.
EXECUTED as a sealed instrument this 14th day of June, 1999.
K Capital I, L.P.
By: /s/ Thomas Knott
-----------------------------------------
K Capital Partners, LLC, General
Partner by: Harwich Capital
Partners LLC, its Managing
Member, by Thomas Knott, its
Managing Member
K Capital II, L.P.
By: /s/Thomas Knott
-----------------------------------------
K Capital Partners, LLC, General
Partner by: Harwich Capital
Partners LLC, its Managing
Member, by Thomas Knott, its
Manager Member
K Capital Partners, LLC
By: /s/ Thomas Knott
-----------------------------------------
Harwich Capital Partners, LLC
by Thomas Knott, its Managing
Member
<PAGE>
Harwich Capital Partners, LLC
By: /s/ Thomas Knott
-----------------------------------------
Thomas Knott, its Managing
Member
/s/ Thomas Knott
---------------------------------------------
Thomas Knott
/s/ Abner Kurtin
---------------------------------------------
Abner Kurtin
