U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 3
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
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
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1. Name and Address of Reporting Person*
GERALD B. CRAMER
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(Last) (First) (Middle)
C/O CRAMER ROSENTHAL MCGLYNN LLC
707 WESTCHESTER AVENUE
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(Street)
WHITE PLAINS, NEW YORK 10604
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(City) (State) (Zip)
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2. Date of Event Requiring Statement (Month/Day/Year)
10/21/98
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3. IRS or Social Security Number of Reporting Person (Voluntary)
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4. Issuer Name and Ticker or Trading Symbol
LOGIMETRICS, INC. (LGMTA)
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5. Relationship of Reporting Person to Issuer
(Check all applicable)
[ ] Director [X] 10% Owner
[ ] Officer (give title below) [ ] Other (specify below)
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6. If Amendment, Date of Original (Month/Day/Year)
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7. Individual or joint/Group Filing (Check applicable line)
|X| Form filed by One Reporting Person
|_| Form filed by More than One Reporting Person
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Table I -- Non-Derivative Securities Beneficially Owned
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<TABLE>
<CAPTION>
3. Ownership Form:
2. Amount of Securities Direct (D) or
1. Title of Security Beneficially Owned Indirect (I) 4. Nature of Indirect Beneficial Ownership
(Instr. 4) (Instr. 4) (Instr. 5) (Instr. 5)
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<S> <C> <C> <C>
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COMMON STOCK, PAR VALUE 218,372 (D)
$0.01 PER SHARE
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</TABLE>
* If the Form is filed by more than one Reporting Person see instruction
5(b)(v).
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
Page 1 of 2
<PAGE>
Table II -- Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
<TABLE>
<CAPTION>
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5. Owner-
3. Title and Amount of Securities ship
Underlying Derivative Security Form of
2. Date Exercisable (Instr. 4) Derivative
and Expiration Date --------------------------------- 4. Conver- Security:
(Month/Day/Year) Amount sion or Direct 7. Nature of
---------------------- or Exercise (D) or Indirect
Date Expira- Number Price of Indirect Beneficial
1. Title of Derivative Exer- tion of Derivative (I) Ownership
cisable Date Title Shares Security (Instr. 5) (Instr. 5)
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<S> <C> <C> <C> <C> <C> <C> <C>
CLASS A 13% CONVERTIBLE IMMED. (1) COMMON STOCK 1,195,634 $0.41667 (D)
SENIOR SUBORDINATED
DEBENTURES
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SERIES G WARRANTS IMMED. 7/29/04 COMMON STOCK 967,742 $0.50 (D)
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SERIES H WARRANTS IMMED. 7/29/04 COMMON STOCK 51,772 $0.60 (D)
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SERIES I WARRANTS IMMED. 7/29/04 COMMON STOCK 25,886 $1.125 (D)
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CLASS C 13% CONVERTIBLE (2) (2) COMMON STOCK 782,692(3) (2) (D)
SENIOR SUBORDINATED
DEBENTURES
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</TABLE>
Explanation of Responses:
(1) The Class A Debentures are convertible at any time during which the
principal amount of such debentures is outstanding. The maturity date for
the Class A Debentures is on July 29, 1999.
(2) From and after the earliest of (i) January 31, 1999, (ii) the consummation
of the public or private sale by the issuer of debt or equity securities
resulting in net proceeds to the Issuer (after deduction for all necessary
and customary expenses payable by the issuer in connection therewith) of
at least $15 million (a "Qualifying Offering"), or (iii) the date of any
repayment notice given by the issuer pursuant to Section 2(d) of the Class
C Debentures, any holder of the Class C Debentures has the right,
exercisable at his, her or its option at any time during which the
principal amount of such Class C Debenture is outstanding, to convert the
Class C Debentures, into a number of fully paid and non-assessable shares
equal to (i) the result obtained by dividing the stated principal amount
of the Class C Debenture by the conversion rate established for any equity
security issued in a Qualifying Offering, if the Class C Debenture is
converted on or after the consummation of a Qualifying Offering, or (ii)
if no Qualifying Offering has occurred on or prior to such conversion, the
result obtained by dividing the stated principal amount of the Class C
Debenture by (x) $0.52 per share if the Class C Debenture is converted on
or prior to January 31, 1999, (y) $0.45 per share if the Class C Debenture
is converted on or after February 1, 1999 and on or prior to April 30,
1999, or (z) $0.31 per share if the Class C Debentures are converted on or
after May 1, 1999. The respective conversion prices set forth above are
subject to adjustment in certain circumstances as provided in the Class C
Debentures. The maturity date for the Class C Debentures is on September
30, 1999.
(3) Assumes a $0.31 conversion price.
/s/ Gerald B. Cramer 11/12/98
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** Signature of Reporting Person Date
** 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 provided is insufficient, See Instruction 6 for procedure.
