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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
-------------------
SCHEDULE 13D
Under the Securities Exchange Act of 1934
-------------
(Amendment No. ____)
HALLMARK HEALTHCARE CORP.
- --------------------------------------------------------------------------
(Name of Issuer)
Common Stock 40624G304
- ----------------------------------- -----------------------------------
(Title of class of securities) (CUSIP number)
Richard W. Granahan
Bear, Stearns & Co. Inc.
115 South Jefferson Road
Whippany, NJ 07981
(201) 952-2201
- --------------------------------------------------------------------------
(Name, address and telephone number of person authorized to receive
notices and communications)
September 7, 1994
- --------------------------------------------------------------------------
(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 [x].
(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: When filing this statement in paper format, six copies of this
statement, including exhibits, should be filed with the Commission. See
Rule 13d-1(a) for other parties to whom copies are to be sent.
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CUSIP No. 40624G304 13D
1 NAME OF REPORTING PERSON: Bear, Stearns & Co. Inc.
S.S. OR I.R.S. IDENTIFICATION NO. 13-3299429
OF ABOVE PERSON:
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (a) [_]
(b) [_]
3 SEC USE ONLY
4 SOURCE OF FUNDS: WC
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS [x]
REQUIRED PURSUANT TO ITEM 2(d) OR 2(e):
6 CITIZENSHIP OR PLACE OF Delaware
ORGANIZATION:
NUMBER OF 7 SOLE VOTING POWER: 163,455
SHARES
BENEFICIALLY 8 SHARED VOTING POWER:
OWNED BY
EACH 9 SOLE DISPOSITIVE POWER: 163,455
REPORTING
PERSON WITH 10 SHARED DISPOSITIVE
POWER:
11 AGGREGATE AMOUNT BENEFICIALLY 163,455
OWNED BY REPORTING PERSON:
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) [_]
EXCLUDES CERTAIN SHARES:
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 5.1
14 TYPE OF REPORTING PERSON: BD
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SCHEDULE 13D
------------
Item 1. Security and Issuer
-------------------
(a) Title and Class: Common Stock
(b) Name and Address: Hallmark Healthcare Corp.
300 Galleria Parkway, Suite 650
Atlanta, GA 30339
Item 2. Identity and Background
-----------------------
(a) Name: Bear, Stearns & Co. Inc. ("Bear Stearns")
(b) Place of Organization: Delaware
(c) (i) Principal Business: Securities Broker-Dealer
(ii) Address: 245 Park Avenue
New York, NY 10167
The following information with respect to each executive officer
and director of Bear Stearns is set forth on Appendix I hereto: (i)
name, (ii) business address, and (iii) principal occupation or
employment.
(d) None
(e) See Appendix II
(f) See Appendix I
Item 3. Source and Amount of Funds or Other Consideration
-------------------------------------------------
Working capital of Bear Stearns. The aggregate purchase price of
the 163,455 shares of Common Stock beneficially owned was
approximately $3,357,360.
Item 4. Purpose of Transaction
----------------------
Bear Stearns has acquired the common stock of Hallmark Healthcare
Corp. in the ordinary course of its business as a broker dealer in
connection with its trading and investment activities. Bear Stearns
may acquire additional securities of the Issuer or dispose of
securities of the Issuer in connection with such trading and
investment activities. Although the foregoing represents the range of
activities presently contemplated by Bear Stearns with respect to the
Issuer, it should be noted that the possible activities of Bear
Stearns are subject to change at any time.
Except as set forth above, Bear Stearns has no present plans or
intentions which relate to or would result in any of the
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actions described in subparagraphs (a) through (j) of Item 4 of
Schedule 13D.
Item 5. Interest in Securities of the Issuer
------------------------------------
(a) Number: 163,455
Percentage: 5.1%
(b) 1. Sole power to vote or to direct the vote: 163,455
2. Shared power to vote or to direct the vote: 0
3. Sole power to dispose or to direct the
disposition: 163,455
4. Shared power to dispose or to direct the disposition: 0
(c) Information concerning transactions in the common stock
effected by Bear Stearns is set forth on Appendix III hereto.
(d) Inapplicable
(e) Inapplicable
Item 6. Contracts, Arrangements, Understandings or Relationships
--------------------------------------------------------
with Respect to Securities of the Issuer
----------------------------------------
None
Item 7. Material to be filed as Exhibits
--------------------------------
None
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Signature
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: September 16, 1994
BEAR, STEARNS & CO. INC.
By: BARRY COHEN
-------------------------
Barry Cohen
Senior Managing Director
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APPENDIX I
DIRECTORS AND EXECUTIVE OFFICERS OF BEAR, STEARNS & CO. INC.
------------------------------------------------------------
Principal Occupation
Name and Business Address or Employment
------------------------- --------------------
Alan C. Greenberg Chairman of the Board
James E. Cayne President and Chief
Executive Officer
Vincent J. Mattone Executive Vice President
and Director
John C. Sites Executive Vice President
and Director
Alan D. Schwartz Executive Vice President
and Director
Warren Spector Executive Vice President
and Director
Michael L. Tarnopol Executive Vice President
and Director
Douglas P.C. Nation Director
John H. Slade Director Emeritus
Kenneth L. Edlow Secretary
William J. Montgoris Chief Financial Officer
and Chief Operating Officer
Michael Abatemarco Controller and Assistant
Secretary
Michael Minikes Treasurer
Frederick B. Casey Assistant Treasurer
Mark E. Lehman Senior Vice President -
General Counsel
Samuel L. Molinaro Senior Vice President -
Finance
Douglas P.C. Nation is a citizen of the United Kingdom and
his business address is One Canada Square London E14 5AD England. All
other Directors and Executive Officers are citizens of the United
States and their business address is 245 Park Avenue, New York, New
York 10167. Bear Stearns is a wholly owned subsidiary of The Bear
Stearns Companies Inc. and of the persons named, all but Douglas P.C.
Nation and Mark E. Lehman hold similar office in the parent company.
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APPENDIX II
REGULATORY
January 17, 1992
In the Matter of the Distribution of Securities Issued by
---------------------------------------------------------
Certain Government Sponsored Enterprises: We, along with most of the
----------------------------------------
other major dealers and banks, have settled an SEC administrative
proceeding relating to our participation in the primary distributions
of certain unsecured debt securities issued by GSE's (such as Fannie
Mae, Freddie Mac, Federal Home Bank) by agreeing to a $100,000 fine,
an order that we cease and desist from any further recordkeeping
violations in connection with the distribution of the securities and
undertaking to develop, implement and maintain policies reasonably
designed to assure our future compliance with proper recordkeeping
rules.
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APPENDIX III
BEAR, STEARNS & CO. INC.
------------------------
HALLMARK HEALTHCARE CORP.
-------------------------
Trades from 7/8/94 through 9/7/94
<TABLE>
<CAPTION>
QUANTITY
PURCHASED/(SOLD) DESCRIPTION PRICE/ENTRY AMOUNT
---------------- ------------------ ----------- ----------
***09/07***
<C> <S> <C> <C>
1,000 HALLMARK HEALTHCARE CORP. NEW 24 3/8 24,375.00
2,000 HALLMARK HEALTHCARE CORP. NEW 24 3/8 48,750.00
2,000 HALLMARK HEALTHCARE CORP. NEW 24 1/2 49,000.00
***09/02***
100 HALLMARK HEALTHCARE CORP. NEW 23 1/2 2,350.00
***09/01***
60 HALLMARK HEALTHCARE CORP. NEW 21 3/4 1,305.00
***08/31***
2,000 HALLMARK HEALTHCARE CORP. NEW 21 7/8 43,750.00
(2,000) HALLMARK HEALTHCARE CORP. NEW 22 1/8 (44,250.00)
***08/30***
3,000 HALLMARK HEALTHCARE CORP. NEW 22 66,000.00
***08/29***
20 HALLMARK HEALTHCARE CORP. NEW 22 440.00
***08/26***
1,000 HALLMARK HEALTHCARE CORP. NEW 22 5/8 22,625.00
2,000 HALLMARK HEALTHCARE CORP. NEW 22 7/8 45,750.00
2,500 HALLMARK HEALTHCARE CORP. NEW 22 7/8 57,187.50
***08/24***
1,000 HALLMARK HEALTHCARE CORP. NEW 22 1/2 22,500.00
1,000 HALLMARK HEALTHCARE CORP. NEW 23 1/8 23,125.00
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***08/23***
1,000 HALLMARK HEALTHCARE CORP. NEW 21 1/2 21,500.00
1,000 HALLMARK HEALTHCARE CORP. NEW 21 1/2 21,500.00
1,000 HALLMARK HEALTHCARE CORP. NEW 21 5/8 21,625.00
1,000 HALLMARK HEALTHCARE CORP. NEW 22 1/4 22,250.00
1,000 HALLMARK HEALTHCARE CORP. NEW 22 1/4 22,250.00
2,100 HALLMARK HEALTHCARE CORP. NEW 21 5/8 45,412.50
2,500 HALLMARK HEALTHCARE CORP. NEW 21 1/2 53,750.00
3,000 HALLMARK HEALTHCARE CORP. NEW 21 3/8 64,125.00
5,000 HALLMARK HEALTHCARE CORP. NEW 22 110,000.00
***08/22***
500 HALLMARK HEALTHCARE CORP. NEW 21 3/8 10,687.50
700 HALLMARK HEALTHCARE CORP. NEW 20 3/4 14,525.00
1,000 HALLMARK HEALTHCARE CORP. NEW 21 21,000.00
1,000 HALLMARK HEALTHCARE CORP. NEW 21 1/8 21,125.00
***08/19***
50 HALLMARK HEALTHCARE CORP. NEW 20 1/4 1,012.50
***08/18***
5,000 HALLMARK HEALTHCARE CORP. NEW 20 3/4 103,750.00
***08/17***
200 HALLMARK HEALTHCARE CORP. NEW 21 4,200.00
1,000 HALLMARK HEALTHCARE CORP. NEW 20 3/4 20,750.00
2,000 HALLMARK HEALTHCARE CORP. NEW 20 3/4 41,500.00
7,000 HALLMARK HEALTHCARE CORP. NEW 21 147,000.00
***08/16***
90 HALLMARK HEALTHCARE CORP. NEW 19 3/4 1,777.50
***08/15***
10,000 HALLMARK HEALTHCARE CORP. NEW 20 200,000.00
***08/12***
5,000 HALLMARK HEALTHCARE CORP. NEW 19 3/4 98,750.00
***08/03***
700 HALLMARK HEALTHCARE CORP. NEW 20 14,000.00
3,935 HALLMARK HEALTHCARE CORP. NEW 19 7/8 78,208.13
***08/01***
2,000 HALLMARK HEALTHCARE CORP. NEW 19 7/8 39,750.00
***07/28***
300 HALLMARK HEALTHCARE CORP. NEW 19 3/4 5,925.00
700 HALLMARK HEALTHCARE CORP. NEW 19 3/4 13,825.00
***07/27***
3,000 HALLMARK HEALTHCARE CORP. NEW 20 1/2 61,500.00
AS OF 7/26/94
***07/25***
1,000 HALLMARK HEALTHCARE CORP. NEW 20 1/2 20,500.00
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***07/22***
2,500 HALLMARK HEALTHCARE CORP. NEW 20 3/4 51,875.00
***07/19***
8,000 HALLMARK HEALTHCARE CORP. NEW 21 3056 170,444.80
AVG PRICE: DETAILS ON REQUEST
***07/18***
1,000 HALLMARK HEALTHCARE CORP. NEW 21 1/4 21,250.00
1,000 HALLMARK HEALTHCARE CORP. NEW 21 1/4 21,250.00
1,000 HALLMARK HEALTHCARE CORP. NEW 21 1/4 21,250.00
2,000 HALLMARK HEALTHCARE CORP. NEW 21 1/4 42,500.00
2,500 HALLMARK HEALTHCARE CORP. NEW 21 1/2 53,750.00
5,000 HALLMARK HEALTHCARE CORP. NEW 21 1/4 106,250.00
6,000 HALLMARK HEALTHCARE CORP. NEW 21 1/4 127,500.00
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