<PAGE> 1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON D.C. 20549
SCHEDULE 13D/A
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 4)
SEAMAN FURNITURE COMPANY, INC.
(Name of Issuer)
COMMON STOCK, PAR VALUE $.01 PER SHARE
(Title of Class of Securities)
812163-30-1
(CUSIP Number)
JEFFREY B. COBB, ESQ.
COBB & EISENBERG LLC
315 POST ROAD WEST
WESTPORT, CT 06881
(203) 222-9560
(Name, Address and Telephone Number of
Person Authorized to Receive Notices and Communications)
JULY 8, 1997
(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/A, 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 / /. (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.)
Page 1 of 10 pages
<PAGE> 2
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CUSIP NO. 812163-30-1 PAGE 2 OF 10 PAGES
- --------------------- ------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Carl Marks Strategic Investments, L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X/
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
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
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 623,512 shares**
SHARES -------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH -0-
REPORTING -------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
623,512 shares**
-------------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
623,512 shares**
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13.7%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
** Includes shares owned beneficially by other registered persons but omits
certain shares owned by certain group members. See Item 5.
<PAGE> 3
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CUSIP NO. 812163-30-1 PAGE 3 OF 10 PAGES
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- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Carl Marks Strategic Investments II, L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X/
(b) / /
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3 SEC USE ONLY
- --------------------------------------------------------------------------------
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
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 267,738 shares**
SHARES -------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH -0-
REPORTING -------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
267,738 shares**
-------------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
267,738 shares**
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.9%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
** Includes shares owned beneficially by other registered persons but omits
certain shares owned by certain group members. See Item 5.
<PAGE> 4
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CUSIP NO. 812163-30-1 PAGE 4 OF 10 PAGES
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- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Carl Marks Management Company, L.P.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X/
(b) / /
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
AF
- --------------------------------------------------------------------------------
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
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 891,250 shares**
SHARES -------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED
BY -0-
EACH -------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
AGENCY
891,250 shares**
-------------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
891,250 shares**
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
19.6%
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14 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
** Includes shares owned beneficially by other registered persons but omits
certain shares owned by certain group members. See Item 5.
<PAGE> 5
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CUSIP NO. 812163-30-1 PAGE 5 OF 10 PAGES
- --------------------- ------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Andrew M. Boas
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X/
(b) / /
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
AF
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(E) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF -0-
SHARES -------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED
BY EACH 938,050 shares**
REPORTING -------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH
-0-
-------------------------------------------------------
10 SHARED DISPOSITIVE POWER
938,050 shares**
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
938,050 shares**
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
20.7%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
** Includes shares owned beneficially by other registered persons but omits
certain shares owned by certain group members. See Item 5.
<PAGE> 6
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CUSIP NO. 812163-30-1 PAGE 6 OF 10 PAGES
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Robert C. Ruocco
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X/
(b) / /
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3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
AF
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(E) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF -0-
SHARES ----------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED
BY 938,050 shares**
EACH ----------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
AGENCY
-0-
----------------------------------------------------------
10 SHARED DISPOSITIVE POWER
938,050 shares**
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
938,050 shares**
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
20.7%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
** Includes shares owned beneficially by other registered persons but omits
certain shares owned by certain group members. See Item 5.
<PAGE> 7
ITEM 1. SECURITY AND ISSUER
This Amendment No. 4 to Schedule 13D relates to the Common Stock, par
value $.01 per share (the "Common Stock"), issued by Seaman Furniture Company,
Inc., a Delaware corporation (the "Company").
This Amendment to Schedule 13D is being filed pursuant to Section 13(d)
of the Securities Exchange Act of 1934, as amended, and the rules and
regulations promulgated thereunder (the "Exchange Act"). This Amendment further
amends a Schedule 13D, dated April 22, 1993, as previously amended by Amendment
No. 1, dated January 4, 1994, Amendment No. 2, dated May 18, 1994, and Amendment
No. 3, dated June 14, 1996(the "Original Schedule 13D").
Except as amended hereby, the responses in the Original Schedule 13D
remain unchanged.
ITEM 2. IDENTITY AND BACKGROUND
(a) Whitman is no longer a general partner of the General Partner and
an executive officer of the Manager. As Whitman accordingly may no longer be
deemed to own beneficially the shares of Common Stock owned beneficially by the
General Partner or the Manager, he has ceased to be a Reporting Person
hereunder.
ITEM 4. PURPOSE OF TRANSACTION
As previously reported, the Reporting Persons continue to be among the
largest shareholders of the Company. The Reporting Persons might be deemed to
share in the control of the Company, although the existence of such control has
been and continues to be disclaimed hereby. Also as previously reported, one of
the Reporting Persons, Mr. Ruocco, is a director of the Company and as such may
be deemed to participate, together with other members of the Board of Directors
and management, in the control of the Company.
The Reporting Persons, together with M.D. Sass Associates Inc. and
affiliated entities and T. Rowe Price Associates Inc. and affiliated funds
(collectively, the "Participating Funds") and members of senior management of
the Company, including Alan Rosenberg, Steven Halper and Peter McGeogh (the
"Participating Executives"), presented a proposal to the Company's Board of
Directors on July 8, 1997 to acquire,
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through a merger transaction, the approximately 20% of the Company's outstanding
Common Stock not already owned by the foregoing persons for $24.00 per share in
cash (the "Merger Proposal"). The Merger Proposal is subject to certain
conditions, including, among other things, approval by a special committee of
the Company's Board of Directors, obtaining acceptable financing and the
negotiation of a mutually acceptable merger agreement. Accordingly, there can be
no assurance as to whether the proposed transaction will be consummated or as to
the possible timing or terms thereof.
The Reporting Persons, acting independently or in concert with other
persons, may at any time acquire additional shares of Common Stock, or take
other action with respect to the Company or any of its securities (including
possible dispositions of shares of Common Stock) in any manner permitted by law.
There can be no assurance as to whether any such transaction or action will be
consummated or taken or as to the possible timing or terms thereof.
Except for the Merger Proposal, none of the Reporting Persons presently
has any plans or proposals which relate to or would result in any of the matters
enumerated in clauses (a) through (j), inclusive, of Schedule 13D. However, in
his capacity as a director of the Company, Mr. Ruocco will necessarily consider
proposals from time to time regarding the business and affairs of the Company,
including matters of the nature referred to above. If any such matter is
presented to the Board of Directors, Mr. Ruocco intends to act thereon in
accordance with his judgment at the time.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
(a) As of the date hereof, the Partnership owned beneficially 623,512
shares of Common Stock, constituting approximately 13.7% of the 4,537,041
outstanding shares. In its capacity as general partner of the Partnership, such
shares may be deemed also owned beneficially by the General Partner and, in
their capacity as general partners of the General Partner, by Messrs. Boas and
Ruocco.
As of the date hereof, Partnership II owned beneficially 267,738
shares of Common Stock, constituting approximately 5.9% of the outstanding
shares. In its capacity as general partner of Partnership II, such shares may be
deemed also owned beneficially by the General Partner and, in their capacity as
general partners of the General Partner, by Messrs. Boas and Ruocco.
As of the date hereof, the Account owned beneficially 46,800 shares
of Common Stock, constituting approximately 1.0% of the outstanding shares,
which shares may be deemed also owned beneficially by the Manager in its
capacity as investment manager
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for the Account and, in their capacity as executive officers of the Manager, by
Messrs. Boas and Ruocco.
By reason of the foregoing (and ownership previously reported in the
Original Schedule 13D), as of the date hereof the Reporting Persons owned
beneficially the following respective aggregate amounts and approximate
percentages of the outstanding shares of Common Stock:(i) the Partnership,
623,512 shares (13.7%); (ii) Partnership II, 267,738 shares (5.9%); (iii) the
General Partner, 891,250 shares (19.6%); and (iv) each of Messrs. Boas and
Ruocco, 938,050 shares (20.7%).
By reason of the Merger Proposal, the Reporting Persons may be deemed
to be a "group", within the meaning of Rule 13d-5 under the Exchange Act, with
the Participating Funds and the Participating Executives and therefore to share
beneficial ownership, within the meaning of Rule 13d-1 under the Exchange Act,
of the shares of Common Stock beneficially owned by such persons. To the
knowledge of the Reporting Persons, based upon Schedule 13D or 13G filings (with
respect to the Participating Funds) and information furnished by the Company
(with respect to the Participating Executives), on the date hereof such persons
beneficially owned the amounts of Common Stock respectively indicated below:
<TABLE>
<CAPTION>
Party(ies) No. of Shares
---------- -------------
<S> <C>
M.D. Sass Associates, Inc. 1,726,361 shares
And Affiliates
T. Rowe Price Associates, Inc. 967,900 shares
And Affiliates
Participating Executives 705,752 shares
(including shares subject to
stock options)
</TABLE>
The Reporting Persons disclaim the existence of a "group" with the foregoing
persons with regard to any matter other than the Merger Proposal. This Schedule
13D is filed solely on behalf of the Reporting Persons and not with respect to
any of the Participating Funds or Participating Executives.
(c) By reason of the Merger Proposal, the Reporting Persons may be
deemed to have acquired shared beneficial ownership of the shares of Common
Stock owned by the Participating Funds and the Participating Executives on or
about July 8, 1997. Except as aforesaid, there were no transactions in the
Common Stock by any of the Reporting Persons during the past sixty (60) days.
9
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ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
TO SECURITIES OF THE ISSUER
Reference is made to Item 4 hereof for a description of the Merger
Proposal involving the Reporting Persons. Pursuant to a letter agreement,
certain of the Reporting Persons, together with the Participating Funds and
Participating Executives, have retained Wheat First Butcher Singer as a
financial advisor in connection with such Proposal.
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: July 14, 1997
CARL MARKS STRATEGIC INVESTMENTS, L.P.
By: Carl Marks Management Company, L.P.,
General Partner
By:________________________________________
, a General Partner
CARL MARKS STRATEGIC INVESTMENTS II, L.P.
By: Carl Marks Management Company, L.P.,
General Partner
By:________________________________________
, a General Partner
CARL MARKS MANAGEMENT COMPANY, L.P.
By:________________________________________
, a General Partner
________________________________________
ANDREW M. BOAS
________________________________________
ROBERT C. RUOCCO
10
