<PAGE> 1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
___________________
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 3)*
VENTURIAN CORP.
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(Name of Issuer)
Common Stock, $1.00 par value
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(Title of Class of Securities)
1 92330410
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(CUSIP number)
Russell C. Hansen, Esq.
Gibson, Dunn & Crutcher LLP
2029 Century Park East, Suite 4000
Los Angeles, CA 90067
(310) 552-8500
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(Name, address and telephone number of person
authorized to receive notices and communications)
July 23, 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 that is the subject of this Schedule 13D, and is
filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the
following box [ ].
Note. Schedules filed in paper format shall include a signed original
and five copies of the schedule, including all exhibits. See Rule 13d-7(b) for
other parties to whom copies are to be sent.
*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 ("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).
(Page 1 of 8 Pages)
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CUSIP NO. 1 92330410 13D PAGE 2 OF 8 PAGES
1 NAME OF REPORTING PERSONS
S.S OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Quarterdeck Public Equities, LLC
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
N/A
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
AF
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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 OF ORGANIZATION
Delaware
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NUMBER OF 7 SOLE VOTING POWER
SHARES 130,010
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BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY -0-
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EACH 9 SOLE DISPOSITIVE POWER
REPORTING 130,010
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PERSON WITH 10 SHARED DISPOSITIVE POWER
-0-
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
130,010
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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)
10.2%
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14 TYPE OF REPORTING PERSON*
OO
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<PAGE> 3
CUSIP NO. 1 92330410 13D PAGE 3 OF 8 PAGES
1 NAME OF REPORTING PERSONS
S.S OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Quarterdeck Equity Partners, Inc.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
N/A
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
AF
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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 OF ORGANIZATION
Delaware
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NUMBER OF 7 SOLE VOTING POWER
SHARES 130,010
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BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY -0-
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EACH 9 SOLE DISPOSITIVE POWER
REPORTING 130,010
----------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER
-0-
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
130,010
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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)
10.2%
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14 TYPE OF REPORTING PERSON*
CO
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<PAGE> 4
CUSIP NO. 1 92330410 13D PAGE 4 OF 8 PAGES
1 NAME OF REPORTING PERSONS
S.S OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Jon B. Kutler
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
N/A
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
AF
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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 OF ORGANIZATION
United States
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NUMBER OF 7 SOLE VOTING POWER
SHARES 164,010
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BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY -0-
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EACH 9 SOLE DISPOSITIVE POWER
REPORTING 164,010
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PERSON WITH 10 SHARED DISPOSITIVE POWER
-0-
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
164,010
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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)
12.9%
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14 TYPE OF REPORTING PERSON*
IN
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<PAGE> 5
CUSIP No. 1 92330410 Page 5 of 8
ADDENDUM TO SCHEDULE 13D
The persons filing this Amendment No. 3 are (i) Quarterdeck
Equity Partners, Inc., a Delaware corporation ("QEP"), (ii)
Quarterdeck Public Equities, LLC, a Delaware limited liability
company ("Quarterdeck") and (iii) Jon B. Kutler. This
Amendment No. 3 amends a Statement on Schedule 13D filed by
QEP, Quarterdeck and Mr. Kutler on July 10, 1998 (the
"Original Statement"), and subsequent Amendment No. 1 and
Amendment No. 2 to the Original Statement, filed on September
28, 1998 and March 16, 1998, respectively. The filing of this
Amendment No. 3 should not be deemed an admission that QEP,
Quarterdeck and Mr. Kutler comprise a group within the meaning
of Section 13(d)(3) of the Securities Exchange Act of 1934, as
amended.
This Amendment No.3 relates to the common stock, $1.00 par
value (the "Common Stock"), of Venturian Corp., a Minnesota
corporation (the "Issuer").
On April 1, Quarterdeck purchased 400 shares of the Common
Stock on the open market at $6.125 per share. During April and
July, 1999, Mr. Kutler purchased 13,000 shares of the Common
Stock on the open market, at prices between $5.125 and $6.875
per share.
On November 27, 1998, a $504,040 debenture (the "Convertible
Debenture") received by Quarterdeck from the Issuer became
convertible, at $8.00 per share, into shares of Common Stock,
for a total of 63,005 shares (the "Conversion Shares"), at the
option of Quarterdeck. Upon conversion, Quarterdeck will
beneficially own 130,010 out of 1,275,873 outstanding shares,
approximately 10.2%, of Common Stock of the Issuer.
To the best knowledge of QEP, Quarterdeck and Mr. Kutler,
there has been no material change in the information set forth
in response to Items 1, 2, 3, 4, 6 and 7 of the Original
Statement, as amended. Accordingly, those Items are omitted
from this Amendment No. 3.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
(a)-(b) Reference is made to Items 7 through 13 of this
Amendment No. 3 on pages 2-4 hereof, to the Addendum
on page 5 hereof, and to Item 2 on page 6 of the
Original Statement, all of which are incorporated
herein by reference.
As of the date hereof, Quarterdeck may be deemed to
be the beneficial owner, with voting and disposition
power, of an aggregate of 130,010 shares of Common
Stock of the Issuer, which, upon issuance of the
Conversion Shares, will constitute approximately
10.2% of the 1,275,873 outstanding shares of Common
Stock of the Issuer, based upon the Issuer's most
recent available filing with the Securities and
Exchange Commission.
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CUSIP No. 1 92330410 Page 6 of 8
By reason of its position as the sole managing member
of Quarterdeck, QEP, as of the date hereof, may be
deemed to be the beneficial owner, with voting and
disposition power, of an aggregate of 130,010 shares
of Common Stock of the Issuer, which, upon the
issuance of the Conversion Shares to Quarterdeck,
will constitute approximately 10.2% of the 1,275,873
outstanding shares of Common Stock of the Issuer,
based upon the Issuer's most recent available filing
with the Securities and Exchange Commission.
By reason of his position as Chairman, Treasurer,
Director and sole stockholder of QEP, and of open
market purchases of the Issuer's Common Stock as
described in this Amendment No. 3, in Amendment No. 1
and Amendment No. 2 to the Original Statement, and in
Item 2 of the Original Statement, Mr. Kutler, as of
the date hereof, may be deemed to be the beneficial
owner, with voting and disposition power, of an
aggregate of 164,010 shares of Common Stock of the
Issuer, which, upon the issuance of the Conversion
Shares to Quarterdeck, will constitute approximately
12.9% of the 1,275,873 outstanding shares of Common
Stock of the Issuer, based upon the Issuer's most
recent available filing with the Securities and
Exchange Commission.
(c) None of the persons referred to in Item 5(a) has
effected any transactions in the Issuer's Common
Stock during the past 60 days, other than as
described in this Amendment No. 3.
(d) Not applicable.
(e) Not applicable.
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CUSIP No. 1 92330410 Page 7 of 8
SIGNATURES
After reasonable inquiry and to the best of my knowledge and belief,
the undersigned certifies that the information set forth in this statement is
true, complete and correct.
Dated: July 29, 1999
QUARTERDECK PUBLIC EQUITIES, LLC
a limited liability company organized
under the laws of Delaware
By: QUARTERDECK EQUITY PARTNERS, INC.
Its: Managing Member
/s/ JON B. KUTLER
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By: Jon B. Kutler
Its: Chairman
QUARTERDECK EQUITY PARTNERS, INC.
a corporation organized under the laws of Delaware
/s/ JON B. KUTLER
----------------------------
By: Jon B. Kutler
Its: Chairman
JON B. KUTLER
an individual
/s/ JON B. KUTLER
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CUSIP No. 1 92330410 Page 8 of 8
Exhibit Index
Exhibit
Number Exhibit
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1 $1 Million Private Placement Term Sheet, dated June 28,
1998, by and between Venturian Corp. and Quarterdeck
Equity Partners, Inc.*
2 Agreement With Respect to Joint Filing, dated July 10,
1998, by and among Quarterdeck Public Equities, LLC,
Quarterdeck Equity Partners, Inc. and Mr.
Jon B. Kutler.*
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* Previously filed.
