SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 6)1
UNITED CAPITAL CORP.
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(Name of issuer)
COMMON STOCK, $.10 PAR VALUE
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(Title of class of securities)
909912 10 7
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(CUSIP number)
STEVEN WOLOSKY, ESQ.
OLSHAN GRUNDMAN FROME ROSENZWEIG & WOLOSKY LLP
505 Park Avenue
New York, New York 10022
(212) 753-7200
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(Name, address and telephone number of person
authorized to receive notices and communications)
December 9, 1999
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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 the statement o. (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.
(Continued on following pages)
(Page 1 of 6 Pages)
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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).
<PAGE>
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CUSIP No. 909912 10 7 13D Page 2 of 6 Pages
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================================================================================
1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
A. F. PETROCELLI
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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*
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
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6 CITIZENSHIP OR PLACE OR ORGANIZATION
U.S.A.
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NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 3,015,178**
OWNED BY ------------------------------------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING
PERSON WITH -0-
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9 SOLE DISPOSITIVE POWER
3,015,178**
------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
3,015,178**
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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)
59.9%
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14 TYPE OF REPORTING PERSON*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
**Includes presently exercisable options to purchase an aggregate of 298,254
shares of Common Stock.
<PAGE>
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CUSIP No. 909912 10 7 13D Page 3 of 6 Pages
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================================================================================
1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
BEVERLY PETROCELLI
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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*
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) / /
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6 CITIZENSHIP OR PLACE OR ORGANIZATION
U.S.A.
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NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 500,000
OWNED BY -------------------------------------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING
PERSON WITH -0-
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9 SOLE DISPOSITIVE POWER
500,000
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10 SHARED DISPOSITIVE POWER
-0-
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
500,000
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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)
10.6%
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14 TYPE OF REPORTING PERSON*
IN
================================================================================
<PAGE>
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CUSIP No. 909912 10 7 13D Page 4 of 6 Pages
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SCHEDULE 13D
(Amendment No. 6)
relating to the
Common Stock, $.10 par value
of
United Capital Corp.
This Amendment No. 6 amends the Schedule 13D dated January 20, 1994,
(the "Schedule 13D"), filed by A.F. Petrocelli ("Mr. Petrocelli") and his wife,
Beverly Petrocelli ("Mrs. Petrocelli"). This Amendment No. 6 reflects (i) the
gifting by Mr. Petrocelli of 61,000 shares of Common Stock, $.10 par value (the
"Common Stock") of United Capital Corp. (the "Issuer") in December 1999 and (ii)
the reduction of the number of shares of outstanding Common Stock of the Issuer
as the result of a dutch auction tender offer consummated in October 1999 and
other buy-backs of the Issuer's Common Stock. All capitalized terms not
otherwise defined herein shall have the meanings ascribed thereto in the
Schedule 13D. The items specified below are hereby amended and supplemented as
specified herein.
Item 5. INTEREST IN SECURITIES OF THE ISSUER. Item 5 of the Schedule
13D is hereby amended and supplemented by adding the following:
On December 9, 1999 Mr. Petrocelli gifted an aggregate of 61,000 shares
to his adult children, grandchildren and one other individual.
<PAGE>
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CUSIP No. 909912 10 7 13D Page 5 of 6 Pages
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As a result of this transaction, Mr. Petrocelli is the direct
beneficial owner of 3,015,178 shares of Common Stock including presently
exercisable options to purchase 298,254 shares of Common Stock, representing
approximately 59.9% of the outstanding Common Stock of the Issuer. Such
percentage is based upon the amount of outstanding Common Stock of the Issuer as
reported in its Form 10-Q for the nine months ended September 30, 1999 (the
"10-Q"). Such amount does not include shares held by Mrs. Petrocelli and the
adult children and grandchildren of Mr. Petrocelli. Mrs. Petrocelli is the
direct beneficial owner of 500,000 shares of Common Stock representing
approximately 10.6% of the outstanding Common Stock of the Issuer. Such
percentage is based upon the amount of outstanding Common Stock of the Issuer as
reported in the 10-Q. Such amount does not include shares held by Mr. Petrocelli
and the adult children or grandchildren of Mrs. Petrocelli.
<PAGE>
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CUSIP No. 909912 10 7 13D Page 6 of 6 Pages
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SIGNATURES
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: January 14, 2000
/s/A.F. Petrocelli
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A.F. Petrocelli
/s/Beverly Petrocelli
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Beverly Petrocelli
