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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES AND EXCHANGE ACT OF 1934
(AMENDMENT NO. 2)
PremiumWear, Inc.
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(Name of Issuer)
Common Stock, par value $.01 per share
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(Title of Class of Securities)
740909106
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(CUSIP Number)
Francisco A. Lorenzo
333 Clay Street
Suite 4040
Houston, Texas 77002
(713) 658-9594
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(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
March 14, 1997
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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 this statement [ ].
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SCHEDULE 13D
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CUSIP NO. 740909106 PAGE 2 OF 13 PAGES
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1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Francisco A. Lorenzo
(Intentionally Omitted)
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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
------------------------------------------------------------------------------
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS
IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
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6) CITIZENSHIP OR PLACE OF ORGANIZATION United States
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7) SOLE VOTING
POWER
-----------------------------------------------------------
NUMBER OF 8) SHARED VOTING
SHARES POWER 184,100 shares
BENEFICIALLY
OWNED BY -----------------------------------------------------------
EACH 9) SOLE DISPOSITIVE
REPORTING POWER
PERSON
WITH -----------------------------------------------------------
10) SHARED DISPOSITIVE
POWER 184,100 shares
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11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON 184,100 shares
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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) 7.9%
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14) TYPE OF REPORTING PERSON* IN
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<PAGE>
SCHEDULE 13D
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CUSIP NO. 740909106 PAGE 3 OF 13 PAGES
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1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Savoy Partners, Inc.
(Intentionally Omitted)
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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 WC
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5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS
IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
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6) CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
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7) SOLE VOTING
POWER
-----------------------------------------------------------
NUMBER OF 8) SHARED VOTING
SHARES POWER 116,900 shares
BENEFICIALLY
OWNED BY -----------------------------------------------------------
EACH 9) SOLE DISPOSITIVE
REPORTING POWER
PERSON
WITH -----------------------------------------------------------
10) SHARED DISPOSITIVE
POWER 116,900 shares
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11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON 116,900 shares
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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) 5.0%
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14) TYPE OF REPORTING PERSON* CO
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<PAGE>
SCHEDULE 13D
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CUSIP NO. 740909106 PAGE 4 OF 13 PAGES
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1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Jet Capital Corporation
(Intentionally Omitted)
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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 WC
------------------------------------------------------------------------------
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS
IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
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6) CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
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7) SOLE VOTING
POWER
-----------------------------------------------------------
NUMBER OF 8) SHARED VOTING
SHARES POWER 47,200 shares
BENEFICIALLY
OWNED BY -----------------------------------------------------------
EACH 9) SOLE DISPOSITIVE
REPORTING POWER
PERSON
WITH -----------------------------------------------------------
10) SHARED DISPOSITIVE
POWER 47,200 shares
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11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON 47,200 shares
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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) 2.0%
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14) TYPE OF REPORTING PERSON* CO
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<PAGE>
SCHEDULE 13D
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CUSIP NO. 740909106 PAGE 5 OF 13 PAGES
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1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Trust for Benefit of Nicole Patricia Lorenzo - 1992 Trust
(Intentionally Omitted)
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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 OO
------------------------------------------------------------------------------
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS
IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
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6) CITIZENSHIP OR PLACE OF ORGANIZATION United States
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7) SOLE VOTING
POWER
-----------------------------------------------------------
NUMBER OF 8) SHARED VOTING
SHARES POWER 5,000 shares
BENEFICIALLY
OWNED BY -----------------------------------------------------------
EACH 9) SOLE DISPOSITIVE
REPORTING POWER
PERSON
WITH -----------------------------------------------------------
10) SHARED DISPOSITIVE
POWER 5,000 shares
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11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON 5,000 shares
- ------------------------------------------------------------------------------
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) 0.2%
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14) TYPE OF REPORTING PERSON* OO
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<PAGE>
SCHEDULE 13D
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CUSIP NO. 740909106 PAGE 6 OF 13 PAGES
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1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Francisco A. Lorenzo, As Custodian for Mercedes Ana Lorenzo
(Intentionally Omitted)
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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 OO
------------------------------------------------------------------------------
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 8) SHARED VOTING
SHARES POWER 5,000 shares
BENEFICIALLY
OWNED BY -----------------------------------------------------------
EACH 9) SOLE DISPOSITIVE
REPORTING POWER
PERSON
WITH -----------------------------------------------------------
10) SHARED DISPOSITIVE
POWER 5,000 shares
- ------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON 5,000 shares
- ------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES [ ]
- ------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11) 0.2%
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14) TYPE OF REPORTING PERSON* IN
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<PAGE>
SCHEDULE 13D
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CUSIP NO. 740909106 PAGE 7 OF 13 PAGES
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1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Francisco A. Lorenzo, As Custodian for Carolina Grace Lorenzo
(Intentionally Omitted)
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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 OO
------------------------------------------------------------------------------
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 8) SHARED VOTING
SHARES POWER 5,000 shares
BENEFICIALLY
OWNED BY -----------------------------------------------------------
EACH 9) SOLE DISPOSITIVE
REPORTING POWER
PERSON
WITH -----------------------------------------------------------
10) SHARED DISPOSITIVE
POWER 5,000 shares
- ------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON 5,000 shares
- ------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES [ ]
- ------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11) 0.2%
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14) TYPE OF REPORTING PERSON* IN
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<PAGE>
SCHEDULE 13D
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CUSIP NO. 740909106 PAGE 8 OF 13 PAGES
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1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Francisco A. Lorenzo, As Custodian for Timon Francis Lorenzo
(Intentionally Omitted)
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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 OO
------------------------------------------------------------------------------
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 8) SHARED VOTING
SHARES POWER 5,000 shares
BENEFICIALLY
OWNED BY -----------------------------------------------------------
EACH 9) SOLE DISPOSITIVE
REPORTING POWER
PERSON
WITH -----------------------------------------------------------
10) SHARED DISPOSITIVE
POWER 5,000 shares
- ------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON 5,000 shares
- ------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES [ ]
- ------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11) 0.2%
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14) TYPE OF REPORTING PERSON* IN
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<PAGE>
PAGE 9 OF 13 PAGES
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This Amendment No. 2 amends the Schedule 13D filed on January 15, 1996 (the
"Schedule 13D"), as amended, on behalf of Francisco A. Lorenzo, Savoy Partners,
Inc., Jet Capital Corporation, Trust for Benefit of Nicole Patricia Lorenzo -
1992 Trust, Francisco A. Lorenzo, As Custodian for Mercedes Ana Lorenzo,
Francisco A. Lorenzo, As Custodian for Carolina Grace Lorenzo and Francisco A.
Lorenzo, As Custodian for Timon Francis Lorenzo (collectively, the "Reporting
Persons"), with respect to the Common Stock, par value $0.01 per share, of
PremiumWear, Inc. (formerly known as Munsingwear, Inc.). Items not included in
this Amendment are either not amended or not applicable. All capitalized terms
used herein and not otherwise defined herein have the meaning ascribed to such
terms in the Schedule 13D.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
The Response to Item 3 is hereby amended by deleting the entire text
thereof and inserting the following in lieu thereof.
The source and amount of funds (excluding commissions) used by the
Reporting Persons to purchase the shares of Common Stock reported in Item 5
below were as follows:
Name Source of Funds Amount
- ---- --------------- --------
Savoy Partners, Inc. Working Capital $838,237
Jet Capital Corporation Working Capital $377,333
Trust for Benefit of Nicole
Patricia Lorenzo - 1992 Trust Trust Funds $ 40,000
Francisco A. Lorenzo, As Custodian
for Mercedes Ana Lorenzo Custodial Funds $ 38,875
Francisco A. Lorenzo, As Custodian
for Carolina Grace Lorenzo Custodial Funds $ 38,875
Francisco A. Lorenzo, As Custodian
for Timon Francis Lorenzo Custodial Funds $ 39,662
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
The Response to Item 5(a) and (b) is hereby amended by deleting the entire
text thereof and inserting the following in lieu thereof.
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PAGE 10 OF 13 PAGES
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(a) and (b) The aggregate number of shares and percentage of the
outstanding shares of Common Stock (based on the number of shares reported by
the Issuer to be outstanding at February 19, 1997) owned by each of the
Reporting Persons is as follows:
Name Number of Shares Percentage
- ---- ------------------ -----------
Savoy Partners, Inc. 116,900 shares (1) 5.0% (1)
Jet Capital Corporation 47,200 shares (1) 2.0% (1)
Trust for Benefit of Nicole
Patricia Lorenzo - 1992 Trust 5,000 shares (1) 0.2% (1)
Francisco A. Lorenzo, As Custodian
for Mercedes Ana Lorenzo 5,000 shares 0.2%
Francisco A. Lorenzo, As Custodian
for Carolina Grace Lorenzo 5,000 shares 0.2%
Francisco A. Lorenzo, As Custodian
for Timon Francis Lorenzo 5,000 shares 0.2%
(1) Francisco A. Lorenzo shares voting and dispositive power with respect to
the shares of Common Stock owned by Savoy Partners, Inc., Jet Capital
Corporation and the Trust for Benefit of Nicole Patricia Lorenzo - 1992
Trust. Accordingly, Mr. Lorenzo may be deemed to be the beneficial owner
of all of the 184,100 shares owned by the Reporting Persons, representing
7.9% of the outstanding shares of Common Stock. Schedule B annexed hereto
and incorporated herein by reference sets forth certain information as to
the person with whom Mr. Lorenzo shares voting or dispositive power with
respect to the shares of Common Stock owned by the Trust for Benefit of
Nicole Patricia Lorenzo - 1992 Trust. Except as set forth above, neither
any Reporting Person nor (to the knowledge of the Reporting Persons) any
person referred to on Schedule B beneficially owns any shares of Common
Stock.
(c) The Response to Item 5(c) is hereby amended by adding the following
thereto.
Certain information concerning the transactions in the Common Stock
effected since January 14, 1997 (60 days prior to March 14, 1997) by the
Reporting Persons is as follows:
<PAGE>
PAGE 11 OF 13 PAGES
-------------------
Number Purchase Price
Name Date of Shares or Sale per Share
---- -------- --------- -------- ---------
Savoy Partners, Inc. 02/13/97 2,200 Purchase 8.875
Savoy Partners, Inc. 02/21/97 7,800 Purchase 8.875
Savoy Partners, Inc. 02/24/97 5,000 Purchase 8.750
Savoy Partners, Inc. 03/03/97 2,500 Purchase 8.625
Savoy Partners, Inc. 03/13/97 10,000 Purchase 3.375
Savoy Partners, Inc. 03/14/97 9,500 Purchase 3.250
Savoy Partners, Inc. 03/17/97 1,500 Purchase 3.125
All of such transactions were effected on the New York Stock Exchange.
(d) No other person has the right to receive or the power to direct the
receipt of dividends from, or the profits from the sale of, the shares of Common
Stock owned by the Reporting Persons.
SCHEDULE B.
Schedule B attached to the Schedule 13D is hereby amended by deleting the
first paragraph thereof and inserting the following in lieu thereof.
Philip L. Vest is Vice President and Director of each of Savoy Partners,
Inc. and Jet Capital Corporation. Mr. Vest, whose principal occupation is
Managing Director of Savoy Capital, Inc., is a U.S. citizen, and his address is
333 Clay Street, Suite 4040, Houston, Texas 77002.
<PAGE>
PAGE 12 OF 13 PAGES
-------------------
SIGNATURES
After reasonable inquiry and to the best knowledge of each person or entity
set forth below, each such person or entity certifies that the information set
forth in this Statement is true, complete, and correct.
Dated: March 25, 1997
/s/ Francisco A. Lorenzo
- -----------------------------
Francisco A. Lorenzo
SAVOY PARTNERS, INC.
By /s/ Francisco A. Lorenzo
----------------------------
Francisco A. Lorenzo
President
JET CAPITAL CORPORATION
By /s/ Francisco A. Lorenzo
----------------------------
Francisco A. Lorenzo
President
TRUST FOR BENEFIT OF NICOLE
PATRICIA LORENZO - 1992 TRUST
By /s/ Francisco A. Lorenzo
----------------------------
Francisco A. Lorenzo
Trustee
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PAGE 13 OF 13 PAGES
-------------------
FRANCISCO A. LORENZO, AS CUSTODIAN
FOR MERCEDES ANA LORENZO
By /s/ Francisco A. Lorenzo
----------------------------
Francisco A. Lorenzo
FRANCISCO A. LORENZO, AS CUSTODIAN
FOR CAROLINA GRACE LORENZO
By /s/ Francisco A. Lorenzo
----------------------------
Francisco A. Lorenzo
FRANCISCO A. LORENZO, AS CUSTODIAN
FOR TIMON FRANCIS LORENZO
By /s/ Francisco A. Lorenzo
----------------------------
Francisco A. Lorenzo
