<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 7)*
Datakey, Inc.
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
237909106
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(CUSIP Number)
Bruce C. Lueck, President
Okabena Investment Services, Inc.
5140 Norwest Center
90 South Seventh Street, Minneapolis, MN 55402-4139
(612) 339-7151
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(Name, Address and Telephone Number of Person Authorized
to receive Notices and Communications)
August 27, 1998
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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 [ ].
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.
*The remainder of this cover page should 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 ("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).
CUSIP No. 237909106
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Page 1 of 6
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(1) Name of Reporting Person and I.R.S. Identification No.:
Okabena Partnership K, a Minnesota general partnership 41-1642281
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(2) Check the Appropriate Box if a Member of a Group
(a) [ ]
(b) [ X ]
- --------------------------------------------------------------------------------
(3) SEC Use Only
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(4) Source of Funds
WC
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(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e) [ ]
N/A
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(6) Citizenship or Place of Organization
Minnesota
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Number of (7) Sole Voting Power 115,100 shares
Shares Bene-
ficially -------------------------------------------------------------------
Owned by (8) Shared Voting Power -0-
Each Report -------------------------------------------------------------------
ing Person (9) Sole Dispositive Power -0-
With: -------------------------------------------------------------------
(10) Shared Dispositive Power 115,100 shares
- --------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
115,100 shares
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(12) Check if the Aggregate Amount in Row (11) Excludes Certain
Shares [ ]
N/A
- --------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
3.9%
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(14) Type of Reporting Person
PN
Page 2 of 6
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CUSIP No. 237909106
- --------------------------------------------------------------------------------
(1) Name of Reporting Person and I.R.S. Identification No.:
Kohler Capital Management, Inc., a Minnesota corporation 41-1889625
- --------------------------------------------------------------------------------
(2) Check the Appropriate Box if a Member of a Group
(a) [ ]
(b) [ X ]
- --------------------------------------------------------------------------------
(3) SEC Use Only
- --------------------------------------------------------------------------------
(4) Source of Funds
N/A
- --------------------------------------------------------------------------------
(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e) [ ]
N/A
- --------------------------------------------------------------------------------
(6) Citizenship or Place of Organization
Minnesota
- --------------------------------------------------------------------------------
Number of (7) Sole Voting Power -0-
Shares Bene- ----------------------------------------------------------------
ficially (8) Shared Voting Power -0-
Owned by ----------------------------------------------------------------
Each Report- (9) Sole Dispositive Power -0-
ing Person ----------------------------------------------------------------
With: (10) Shared Dispositive Power 115,100 shares
- --------------------------------------------------------------------------------
(11) Aggregate Amount Beneficially Owned by Each Reporting Person
115,100 shares
- --------------------------------------------------------------------------------
(12) Check if the Aggregate Amount in Row (11) Excludes Certain
Shares [ ]
N/A
- --------------------------------------------------------------------------------
(13) Percent of Class Represented by Amount in Row (11)
3.9%
- --------------------------------------------------------------------------------
(14) Type of Reporting Person
CO
Page 3 of 6
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ITEM 1. SECURITY AND ISSUER
This Amendment No. 7 (the "Amendment") is filed with respect to the
common stock of Datakey, Inc. (the "Issuer") and amends the original Schedule
13D filed by Okabena Partnership K ("Partnership K") on October 9, 1991,
Amendment No. 1 on November 21, 1991, Amendment No. 2 on April 12, 1993,
Amendment No. 3 on June 19, 1996, Amendment No. 4 on November 1, 1997, Amendment
No. 5 on May 15, 1998 and Amendment No. 6 on May 15, 1998.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
(a) and (b) See Schedule 13D cover page, rows (7) through (11)
inclusive and (13). In a filing with the Securities and Exchange Commission,
the Issuer indicates that as of August 14, 1998, it had 2,949,735 shares
outstanding.
(c) The sale transactions described in the table below were effected
on behalf of Partnership K by its investment advisor, Kohler Capital Management,
Inc., in Instinet and open market sales resulting in a change in beneficial
ownership by an amount greater than 1% of the Issuer's outstanding common stock
(and a reduction in aggregate beneficial ownership to less than 5%).
<TABLE>
<CAPTION>
Date of Sale No. of Shares Sold Sale Price per Share
------------ ------------------ --------------------
<S> <C> <C>
8/27/98 7,500 $4.500
8/27/98 50,000 4.125
</TABLE>
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
Exhibit A: A copy of the written agreement relating to the filing of
a joint statement as required by Rule 13d-1(f) under the Securities Exchange Act
of 1934, as amended.
Page 4 of 6
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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.
Date: September 3, 1998 OKABENA PARTNERSHIP K
By: Okabena Investment Services, Inc.
Its Managing Partner
By: /s/ Bruce C. Lueck
------------------------------------
Bruce C. Lueck, President
Date: September 3, 1998 KOHLER CAPITAL MANAGEMENT, INC.
By: /s/ Gary S. Kohler
-------------------------------------
Gary S. Kohler, President
Page 5 of 6
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EXHIBIT A
JOINT FILING AGREEMENT
In accordance with Rule 13d-1(f) promulgated under the Securities Exchange
Act of 1934, as amended, the undersigned agree that this Amendment to Schedule
13D dated September 3, 1998, relating to Datakey, Inc. shall be filed jointly on
behalf of each of the undersigned and that this Agreement may be included as an
Exhibit to such joint filing.
Date: September 3, 1998 OKABENA PARTNERSHIP K
By: Okabena Investment Services, Inc.
Its Managing Partner
By: /s/ Bruce C. Lueck
-----------------------------------
Bruce C. Lueck, President
Date: September 3, 1998 KOHLER CAPITAL MANAGEMENT, INC.
By: /s/ Gary S. Kohler
-----------------------------------
Gary S. Kohler, President
Page 6 of 6
