SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
MERRIMAC INDUSTRIES, INC.
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(Name of Issuer)
COMMON STOCK, $.50 PAR VALUE
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(Title of Class of Securities)
590262101
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(CUSIP Number)
Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:
[_] Rule 13d-1(b)
[X] Rule 13d-1(c)
[_] Rule 13d-1(d)
* 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 the
disclosures provided in a prior cover page.
The information required in 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>
________________________________________________________________________________
1. NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION
NUMBER OF ABOVE PERSON
RICHARD GROSSMAN
________________________________________________________________________________
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [_]
________________________________________________________________________________
3. SEC USE ONLY
________________________________________________________________________________
4. CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED STATES
________________________________________________________________________________
NUMBER OF 5. SOLE VOTING POWER
SHARES
_________________________________________________________________
BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY 238,000
_________________________________________________________________
EACH 7. SOLE DISPOSITIVE POWER
REPORTING
_________________________________________________________________
PERSON 8. SHARED DISPOSITIVE POWER
WITH 238,000
________________________________________________________________________________
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON.
238,000
________________________________________________________________________________
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES*
[_]
________________________________________________________________________________
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9.
9.0%
________________________________________________________________________________
12. TYPE OF REPORTING PERSON*
IN
________________________________________________________________________________
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<PAGE>
________________________________________________________________________________
1. NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION
NUMBER OF ABOVE PERSON
ORIN HIRSCHMAN
________________________________________________________________________________
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [_]
________________________________________________________________________________
3. SEC USE ONLY
________________________________________________________________________________
4. CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED STATES
________________________________________________________________________________
NUMBER OF 5. SOLE VOTING POWER
SHARES 182,400
_________________________________________________________________
BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY 198,000
_________________________________________________________________
EACH 7. SOLE DISPOSITIVE POWER
REPORTING 182,400
_________________________________________________________________
PERSON 8. SHARED DISPOSITIVE POWER
WITH 198,000
________________________________________________________________________________
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON.
380,400
________________________________________________________________________________
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES*
[_]
________________________________________________________________________________
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9.
13.9%
________________________________________________________________________________
12. TYPE OF REPORTING PERSON*
IN
________________________________________________________________________________
-3-
<PAGE>
________________________________________________________________________________
1. NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION
NUMBER OF ABOVE PERSON
ADAM SMITH CAPITAL MANAGEMENT LLC
________________________________________________________________________________
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [_]
________________________________________________________________________________
3. SEC USE ONLY
________________________________________________________________________________
4. CITIZENSHIP OR PLACE OF ORGANIZATION
NEW YORK
________________________________________________________________________________
NUMBER OF 5. SOLE VOTING POWER
SHARES 0
_________________________________________________________________
BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY 165,400
_________________________________________________________________
EACH 7. SOLE DISPOSITIVE POWER
REPORTING 0
_________________________________________________________________
PERSON 8. SHARED DISPOSITIVE POWER
WITH 165,400
________________________________________________________________________________
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON.
165,400
________________________________________________________________________________
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES*
[_]
________________________________________________________________________________
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9.
6.3%
________________________________________________________________________________
12. TYPE OF REPORTING PERSON*
OO
________________________________________________________________________________
-4-
<PAGE>
________________________________________________________________________________
1. NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION
NUMBER OF ABOVE PERSON
ADAM SMITH INVESTMENT PARTNERS, L.P.
________________________________________________________________________________
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [_]
________________________________________________________________________________
3. SEC USE ONLY
________________________________________________________________________________
4. CITIZENSHIP OR PLACE OF ORGANIZATION
NEW YORK
________________________________________________________________________________
NUMBER OF 5. SOLE VOTING POWER
SHARES 0
_________________________________________________________________
BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY 165,400
_________________________________________________________________
EACH 7. SOLE DISPOSITIVE POWER
REPORTING 0
_________________________________________________________________
PERSON 8. SHARED DISPOSITIVE POWER
WITH 165,400
________________________________________________________________________________
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON.
165,400
________________________________________________________________________________
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES*
[_]
________________________________________________________________________________
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9.
6.3%
________________________________________________________________________________
12. TYPE OF REPORTING PERSON*
PN
________________________________________________________________________________
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<PAGE>
________________________________________________________________________________
1. NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION
NUMBER OF ABOVE PERSON
DIAMOND CAPITAL MANAGEMENT INC.
________________________________________________________________________________
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [_]
________________________________________________________________________________
3. SEC USE ONLY
________________________________________________________________________________
4. CITIZENSHIP OR PLACE OF ORGANIZATION
NEW YORK
________________________________________________________________________________
NUMBER OF 5. SOLE VOTING POWER
SHARES 0
_________________________________________________________________
BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY 32,600
_________________________________________________________________
EACH 7. SOLE DISPOSITIVE POWER
REPORTING 0
_________________________________________________________________
PERSON 8. SHARED DISPOSITIVE POWER
WITH 32,600
________________________________________________________________________________
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON.
32,600
________________________________________________________________________________
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES*
[_]
________________________________________________________________________________
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9.
1.3%
________________________________________________________________________________
12. TYPE OF REPORTING PERSON*
CO
________________________________________________________________________________
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<PAGE>
________________________________________________________________________________
1. NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION
NUMBER OF ABOVE PERSON
ADAM SMITH INVESTMENTS, LTD.
________________________________________________________________________________
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [_]
________________________________________________________________________________
3. SEC USE ONLY
________________________________________________________________________________
4. CITIZENSHIP OR PLACE OF ORGANIZATION
BRITISH VIRGIN ISLANDS
________________________________________________________________________________
NUMBER OF 5. SOLE VOTING POWER
SHARES 0
_________________________________________________________________
BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY 32,600
_________________________________________________________________
EACH 7. SOLE DISPOSITIVE POWER
REPORTING 0
_________________________________________________________________
PERSON 8. SHARED DISPOSITIVE POWER
WITH 32,600
________________________________________________________________________________
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON.
32,600
________________________________________________________________________________
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES*
[_]
________________________________________________________________________________
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9.
1.3%
________________________________________________________________________________
12. TYPE OF REPORTING PERSON*
CO
________________________________________________________________________________
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<PAGE>
________________________________________________________________________________
1. NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION
NUMBER OF ABOVE PERSON
RICHARD AND ANA GROSSMAN JTWROS
________________________________________________________________________________
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X]
(b) [_]
________________________________________________________________________________
3. SEC USE ONLY
________________________________________________________________________________
4. CITIZENSHIP OR PLACE OF ORGANIZATION
NEW YORK
________________________________________________________________________________
NUMBER OF 5. SOLE VOTING POWER
SHARES 40,000
_________________________________________________________________
BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY 0
_________________________________________________________________
EACH 7. SOLE DISPOSITIVE POWER
REPORTING 40,000
_________________________________________________________________
PERSON 8. SHARED DISPOSITIVE POWER
WITH 0
________________________________________________________________________________
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON.
40,000
________________________________________________________________________________
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES*
[_]
________________________________________________________________________________
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9.
1.6%
________________________________________________________________________________
12. TYPE OF REPORTING PERSON*
IN
________________________________________________________________________________
-8-
<PAGE>
SCHEDULE 13G
Item 1(a) Name of Issuer:
Merrimac Industries, Inc.
Item 1(b) Address of Issuer's Principal Executive Offices:
41 Fairfield Place, West Caldwell, New Jersey 07006
Item 2(a) Names of Persons Filing:
Richard Grossman, Orin Hirschman, Adam Smith Capital Management LLC
("ASCM"), Diamond Capital Management ("DCM"), Adam Smith Investments,
Ltd. ("ASI"), Adam Smith Investment Partners, L.P. ("ASIP"), Richard
and Ana Grossman JTWROS.
Item 2(b) Addresses of Principal Business Offices:
The principal executive offices of ASCM, ASIP and DCM, and the
business address of each of Richard Grossman and Orin Hirschman, are
located at 101 East 52nd Street, New York, New York 10022. The
principal executive office of ASI is c/o Insinger Trust (BVI) Limited,
Tropic Isle Building, P.O. Box 438, Road Town, Tortola, British Virgin
Islands.
Item 2(c) Citizenship:
ASCM is a New York limited liability company, DCM is a New York
corporation, ASI is a British Virgin Islands corporation, and ASIP is
a New York limited partnership. Richard Grossman, Ana Grossman, and
Orin Hirschman are citizens of the United States.
Item 2(d) Title of Class of Securities:
Common Stock, and warrants exercisable to purchase Common Stock (the
"Shares").
Item 2(e) CUSIP Number:
590262101
Item 3. Type of Reporting Person:
N/A
Item 4. Ownership
a. Amount Beneficially Owned:
420,000 shares
-9-
<PAGE>
b. Percent of class
15.3%
c. Number of shares as to which such person has:
i. Sole power to vote or to direct the vote
0
ii. Shared power to vote or to direct the vote
420,400
iii. Sole power to dispose or to direct the disposition of
0
iv. Shared power to dispose or to direct the disposition of
420,400
Item 5. Ownership of Five Percent or Less of a Class:
If this statement is being filed to report the fact that as of the
date hereof the reporting person has ceased to be the beneficial owner
of more than five percent of the class of securities, check the
following. [ ]
Item 6. Ownership of More than Five Percent on behalf of Another Person.
N/A
Item 7. Identification and Classification of the Subsidiary Which Acquired the
Security Being Reporting on by the Parent Holding Company:
N/A
Item 8. Identification and Classification of Members of the Group.
This Statement is filed by Richard Grossman and Orin Hirschman by
virtue of their beneficial ownership of Shares, directly and
indirectly as the owners of each of ASCM and DCM and as the sole
holders of the common stock of ASI; by DCM by virtue of being the
Investment Manager of ASI; by ASCM, by virtue of being the sole
general partner of ASIP; and by ASI and ASIP by virtue of their direct
beneficial ownership of Shares. By virtue of the relationships
described above, each of Richard Grossman and Orin Hirschman may be
deemed to possess indirect beneficial ownership of the Shares held by
each entity. The directors of ASI are F.M.C. Limited and S.C.S.
Limited, which are subsidiaries of Insinger Trust (BVI) Limited, all
of which are British Virgin Islands corporations. Richard Grossman and
Orin Hirschman are the only
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<PAGE>
officers and directors of ASC and DCM, and the only member-managers of
ASCM. This Statement is filed by Richard and Ana Grossman JTWROS, by
virtue of their direct beneficial ownership of Shares.
Item 9. Notice of Dissolution of Group:
N/A
Item 10. Certification:
By signing below the undersigned certify that to the best of their
knowledge and belief, the securities referred to above were not
acquired and are not held for the purpose of or with the effect of
changing or influencing the control of the issuer of the securities
and are not held in connection with or as a participant in any
transaction having that purpose or effect.
Signature
After reasonable inquiry and to the best of my knowledge and belief, the
undersigned certify that the information set forth in this statement is true,
complete and correct.
Date: November 7, 2000
/s/ Richard Grossman
Richard Grossman
/s/ Orin Hirschman
Orin Hirschman
ADAM SMITH CAPITAL MANAGEMENT, L.L.C.,
By: /s/ Richard Grossman
Richard Grossman, Manager
ADAM SMITH INVESTMENT PARTNERS, L.P.
By: ADAM SMITH CAPITAL MANAGEMENT, L.L.C.,
General Partner
By: /s/ Richard Grossman
Richard Grossman, Manager
DIAMOND CAPITAL MANAGEMENT INC.
By: /s/ Richard Grossman
Richard Grossman, Vice President
-11-
<PAGE>
ADAM SMITH INVESTMENTS, LTD.
By: F.M.C LIMITED, Corporate Directors
By: /s/ Nicholas Lane
By: S.C.S. LIMITED, Corporate Directors
By: /s/ Grant Brown
RICHARD AND ANA GROSSMAN JTWROS
By: /s/ Richard Grossman
Richard Grossman
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<PAGE>
EXHIBIT A
JOINT FILING AGREEMENT
In accordance with Rule 13d-1(k) under the Securities Exchange Act of 1934,
as amended, the persons named below agree to the joint filing on behalf of each
of them of a Statement on Schedule 13D (including amendments thereto) with
respect tot he common stock, no par value, of Isonics Corporation, and further
agree that this Joint Filing Agreement be included as an Exhibit to such joint
filings.
In evidence thereof, the undersigned, being duly authorized, hereby
execute this Joint Filing Agreement as of November 7, 2000.
/s/ Richard Grossman
Richard Grossman
/s/ Orin Hirschman
Orin Hirschman
ADAM SMITH CAPITAL MANAGEMENT, L.L.C.,
By: /s/ Richard Grossman
Richard Grossman, Manager
ADAM SMITH INVESTMENT PARTNERS, L.P.
By: ADAM SMITH CAPITAL MANAGEMENT, L.L.C.,
General Partner
By: /s/ Richard Grossman
Richard Grossman, Manager
DIAMOND CAPITAL MANAGEMENT INC.
By: /s/ Richard Grossman
Richard Grossman, Vice President
ADAM SMITH INVESTMENTS, LTD.
By: F.M.C LIMITED, Corporate Directors
By: /s/ Nicholas Lane
By: S.C.S. LIMITED, Corporate Directors
By: /s/ Grant Brown
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<PAGE>
RICHARD AND ANA GROSSMAN JTWROS
By: /s/ Richard Grossman
Richard Grossman
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