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OMB APPROVAL
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OMB Number 3235-0287
Expires: December 31, 2001
Estimated average burden
hours per response ....... 0.5
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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
[_] Check box if no longer subject of Section 16. Form 4 or Form 5 obligations
may continue. See Instruction 1(b).
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1. Name and Address of Reporting Person*
Reservoir Capital Management, L.L.C.
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(Last) (First) (Middle)
650 Madison Avenue, 26th Floor
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(Street)
New York, New York 10022
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
Orange-co, Inc. (OJ)
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3. IRS Identification Number of Reporting Person, if an entity (Voluntary)
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4. Statement for Month/Year
September 1999
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5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
[_] Director [x] 10% Owner
[_] Office (give title below) [_] Other (specify below)
Chairman of the Board and Chief Executive Officer
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7. Individual or Joint/Group Filing (Check Applicable Line)
[_] Form filed by One Reporting Person
[x] Form filed by More than One Reporting Person
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Table I -- Non-Derivative Securities Acquired, Disposed of,
or Beneficially Owned
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<TABLE>
<CAPTION>
6.
4. 5. Owner-
Securities Acquired (A) or Amount of ship
3. Disposed of (D) Securities Form: 7.
Transaction (Instr. 3, 4 and 5) Beneficially Direct Nature of
2. Code ------------------------------- Owned at End (D) or Indirect
1. Transaction (Instr. 8) (A) of Month Indirect Beneficial
Title of Security Date ------------ Amount or Price (Instr. 3 (I) Ownership
(Instr. 3) (mm/dd/yy) Code V (D) and 4) (Instr.4) (Instr. 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Common Stock, par value $0.50 per 9/27/99 P 5,405,660 A $7.00 5,405,660 I By
share (the "Common Shares") Reservoir
Capital
Group
L.L.C.,
Reservoir
Capital
Partners,
L.P.,
Reservoir
Capital
Asso-
ciates,
L.P.,
Reservoir
Capital
Master
Fund,
L.P., and
OJ
Acquisi-
tion
Corp. (1)
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</TABLE>
(1) Of these shares, 5,405,660 are beneficially owned directly by OJ
Acquisition Corp ("OJA"); 4,634,272 shares are beneficially owned indirectly by
Reservoir Capital Partners, L.P. ("RCP"), which owns 85.73% of OJA, 12,433
shares are beneficially owned directly by Reservoir Capital Associates ("RCA"),
which owns 0.23% of OJA, and 758,955 shares are beneficially owned indirectly
by Reservoir Capital Master Fund ("RCMF"), which owns 14.04% of OJA. Both
Reservoir Capital Management, L.L.C., the managing member of Reservoir Capital
Group ("RCG"), the general partner of RCP, RCA and RCMF, and RCG beneficially
own indirectly 5,405,660 shares.
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
* If the Form is filed by more than one reporting person, see Instruction
4(b)(v).
POTENTIAL PERSONS WHO ARE TO RESPOND TO THE COLLECTION OF INFORMATION CONTAINED
IN THIS FORM ARE NOT REQUIRED TO RESPOND UNLESS THE FORM DISPLAYS A CURRENTLY
VALID OMB CONTROL NUMBER.
(Over)
(Form 4-07/98)
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FORM 4 (continued)
Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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<TABLE>
<CAPTION>
5.
Number of
Derivative
Securities 6.
Acquired (A) Date
2. 4. or Disposed Exercisable and
1. Conversion Transaction of (D) Expiration Date
Title of or Exercise 3. Code (Instr. 3, (Month/Day/Year)
Derivative Price of Transaction (Instr. 8) 4 and 5) ---------------------
Security Derivative Date ------------ ------------- Date Expiration
(Instr. 3) Security (Month/Day/Year) Code V (A) (D) Exercisable Date
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<S> <C> <C> <C> <C> <C> <C> <C> <C>
Common Stock, par
value $0.50 per
share $7.00 09/27/99 X(2) 5,405,660(3) 7/15/99 9/27/99
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10.
9. Owner-
Number ship
of Form
Deriv- of
7. ative Deriv- 11.
Title and Amount Secur- ative Nature
of Underlying 8. ities Secur- of
Securities Price Bene- ity: In-
(Instr. 3 and 4) of ficially Direct direct
---------------- Deriv- Owned (D) or Bene-
Amount ative at End In- ficial
or Secur- of direct Owner-
Number ity Month (I) ship
of (Instr. (Instr. (Instr. (Instr.
Title Shares 5) 4) 4) 4)
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<C> <C> <C> <C> <C> <C>
Common
Stock 5,405,660(3) -0-
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</TABLE>
(2) The option to purchase the above referenced shares was granted pursuant to
a letter of intent by and among Reservoir Capital Group, L.L.C. ("RCG"), Ben
Hill Griffin, III and Ben Hill Griffin, Inc., dated as of July 24, 1999 and
amended on August 19, 1999 and September 10, 1999.
(3) Although the option as entered into covered 5,405,160 shares, Ben Hill
Griffin, III informed RCG that he owned an additional 500 shares and such shares
were made subject to the option as exercised.
Reservoir Capital Management, L.L.C.
By: /s/ Daniel H. Stern September 30, 1999
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Name: Daniel H. Stern Date
Title: President
** Intentional misstatements or omissions of facts constitute Federal
Criminal Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space is insufficient, see Instruction 6 for procedure.
Potential persons who are to respond to the collection of Information contained
in this form are not required to respond unless the form displays a currently
valid OMB Number.
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JOINT FILER INFORMATION
Name: Reservoir Capital Group, L.L.C.
Address: 650 Madison Avenue
26th Floor
New York, New York 10022
Designated Filer: Reservoir Capital Management, L.L.C.
Issuer & Ticker Symbol: Orange-co, Inc. (OJ)
Date of Event Requiring Statement: 9/27/99
By: /s/ Daniel H. Stern
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Name: Daniel H. Stern
Title: President
Name: Reservoir Capital Partners, L.P.
Address: 650 Madison Avenue
26th Floor
New York, New York 10022
Designated Filer: Reservoir Capital Management, L.L.C.
Issuer & Ticker Symbol: Orange-co, Inc. (OJ)
Date of Event Requiring Statement: 9/27/99
By: Reservoir Capital Group, L.L.C., General Partner
By: /s/ Daniel H. Stern
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Name: Daniel H. Stern
Title: President
Name: Reservoir Capital Associates, L.P.
Address: 650 Madison Avenue
26th Floor
New York, New York 10022
Designated Filer: Reservoir Capital Management, L.L.C.
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Issuer & Ticker Symbol: Orange-co, Inc. (OJ)
Date of Event Requiring Statement: 9/27/99
By: Reservoir Capital Group, L.L.C., General Partner
By: /s/ Daniel H. Stern
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Name: Daniel H. Stern
Title: President
Name: Reservoir Capital Master Fund, L.P.
Address: 650 Madison Avenue
26th Floor
New York, New York 10022
Designated Filer: Reservoir Capital Management, L.L.C.
Issuer & Ticker Symbol: Orange-co, Inc. (OJ)
Date of Event Requiring Statement: 9/27/99
By: Reservoir Capital Group, L.L.C., General Partner
By: /s/ Daniel H. Stern
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Name: Daniel H. Stern
Title: President
Name: OJ Acquisition Corp.
Address: 650 Madison Avenue
26th Floor
New York, New York 10022
Designated Filer: Reservoir Capital Management, L.L.C.
Issuer & Ticker Symbol: Orange-co, Inc. (OJ)
Date of Event Requiring Statement: 9/27/99
By: /s/ Gregg M. Zeitlin
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Name: Gregg M. Zeitlin
Title: President
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