SECURITIES AND EXCHANGE COMMISSION
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Washington, D.C. 20549
SCHEDULE 13D/A
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(AMENDMENT NO. 8)
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(Rule 13d-101)
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First Priority Group, Inc.
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(Name of Issuer)
Common Stock, $0.015 par value
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(Title of Class of Securities)
335914206
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(CUSIP Number)
Alan B. Perper
Point West Ventures, L.P.
1700 Montgomery Street, Suite 250
San Francisco, CA 94111
(415) 394-9467
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
December 17, 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 which is the subject of this Amended and Restated
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
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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 (the "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).
(Continued on following pages)
(Page 1 of 9 Pages)
<PAGE>
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CUSIP No. 335914206 13D Page 2 of 9 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Point West Ventures, L.P.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
WC
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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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7 SOLE VOTING POWER
NUMBER OF 304,225 shares of Common Stock
SHARES ---------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH -0-
REPORTING ---------------------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
304,225 shares of Common Stock
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10 SHARED DISPOSITIVE POWER
-0-
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
304,225 shares of Common Stock
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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)
3.7%
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14 TYPE OF REPORTING PERSON*
PN
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*SEE INSTRUCTION BEFORE FILLING OUT!
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<PAGE>
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CUSIP No. 335914206 13D Page 3 of 9 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Point West Venture Management, LLC
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
Not applicable
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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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7 SOLE VOTING POWER
NUMBER OF -0-
SHARES ---------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 304,225 shares of Common Stock
REPORTING ---------------------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
-0-
---------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
304,225 shares of Common Stock
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
304,225 shares of Common Stock
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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)
3.7%
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14 TYPE OF REPORTING PERSON *
OO
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*SEE INSTRUCTION BEFORE FILLING OUT!
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<PAGE>
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CUSIP No. 335914206 13D Page 4 of 9 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Point West Capital Corporation
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
Not applicable
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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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7 SOLE VOTING POWER
NUMBER OF -0-
SHARES ---------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 304,225 shares of Common Stock
REPORTING ---------------------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
-0-
---------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
304,225 shares of Common Stock
- ------------- ------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
304,225 shares of Common Stock
- ------------- ------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
[ ]
- ------------- ------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW(11)
3.7%
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14 TYPE OF REPORTING PERSON *
CO
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*SEE INSTRUCTION BEFORE FILLING OUT!
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<PAGE>
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CUSIP No. 335914206 13D Page 5 of 9 Pages
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This Amendment No. 8 to Schedule 13D amends the Schedule 13D
originally filed on September 5, 1997, as amended and restated by Amendment No.
1 to Schedule 13D filed on October 9, 1998, as amended by Amendment No. 2 to
Schedule 13D filed on December 3, 1998, as amended by Amendment No. 3 to
Schedule 13D filed on May 7, 1999, as amended by Amendment No. 4 to Schedule 13D
filed on June 8, 1999, as amended by Amendment No. 5 to Schedule 13D filed on
September 10, 1999, as amended by Amendment No. 6 to Schedule 13D filed on
October 6, 1999 and as amended by Amendment No. 7 to Schedule 13D filed on
November 3, 1999 (as amended and restated and subsequently amended to the date
hereof, the "Schedule 13D"). This Amendment No. 8 is being filed solely to
report shares of Common Stock sold by the reporting persons and entities with
which it may share beneficial ownership. Capitalized terms used in this
Amendment No. 8 and not defined are used as defined in the Schedule 13D.
Item 5. Interest in Securities of the Issuer.
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Item 5 of the Schedule 13D is hereby amended as follows.
(a) As of the date of this Statement, the Reporting Persons
beneficially owned in the aggregate 304,225 Shares, constituting 3.7% of the
outstanding Shares (based on the most recent Form 10-QSB filed by the issuer) .
Ventures is the direct beneficial owner of 304,225 Shares. Venture Management,
as the general partner of Ventures, may be deemed to own beneficially Shares
owned beneficially by Ventures. Point West, as the sole member of Venture
Management, may be deemed to own beneficially Shares deemed owned beneficially
by Venture Management. Each of Venture Management and Point West disclaim
beneficial ownership of the Shares owned beneficially by Ventures except to the
extent of their respective partnership interests (direct and indirect) in
Ventures. To the best knowledge of the Reporting Persons, except as identified
on Schedule 2, no individual identified on Schedule 1 owns beneficially any
Shares except to the extent any such individual, by virtue of his position as a
director or executive officer of Point West, could be deemed to own beneficially
Shares deemed owned beneficially by Point West. Each individual identified on
Schedule 1 disclaims beneficial ownership of the shares owned beneficially by
Ventures.
(b) Ventures has the direct power to vote or direct the vote
of 304,225 Shares and the direct power to dispose or direct the disposition of
such shares. As a result of the relationships described above, Venture
Management and Point West may be deemed to share indirect power to vote or to
direct the vote and to dispose or to direct the disposition of such Shares. To
the best knowledge of the Reporting Persons, except as identified on Schedule 2,
no individual identified on Schedule 1 has the power to vote or direct the vote
or to dispose or to direct the disposition of any Shares except to the extent
any such individual, by virtue of their position as a director or executive
officer of Point West, could be deemed to have such power over Shares deemed
owned beneficially by Point West.
<PAGE>
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CUSIP No. 335914206 13D Page 6 of 9 Pages
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(c) On August 26, 1997, Ventures purchased from the Company in
a private placement an aggregate of 500,000 Units for $2.00 per Unit. Each unit
consisted of one Share and an option to purchase one Share. On December 26,
1997, the Company issued a redemption notice to Ventures to call the warrants.
On January 26, 1998, Ventures exercised the Warrants for $1,000,000. During
September 1998, Ventures sold 29,000 Shares as detailed on Schedule 2. During
April 1999, Ventures sold 110,700 Shares as detailed on Schedule 2. During May
1999, Ventures sold 5,400 Shares as detailed on Schedule 2. During August 1999,
Ventures sold 15,900 Shares as detailed on Schedule 2. During September 1999,
Ventures sold 6,100 Shares as detailed on Schedule 2. During October 1999,
Ventures sold 77,400 Shares as detailed on Schedule 2. During November 1999,
Ventures sold 16,500 Shares as detailed on Schedule 2. On December 17, 1999 and
December 20, 1999, Ventures sold an aggregate 434,775 shares as detailed on
Schedule 2. All such sales were effected on the Nasdaq Stock Market through
brokers. Bradley Rotter purchased 28,500 Shares in September and October 1997
and 9,300 Shares in February and March 1998 as detailed on Schedule 2. Bradley
Rotter sold 12,700 Shares in April 1999 and 18,400 Shares in May 1999 as
detailed on Schedule 2. All such purchases and sales by Mr. Rotter were effected
on the Nasdaq Stock Market through brokers. Other than such purchases or sales,
none of the Reporting Persons and, to the best knowledge of the Reporting
Persons, no individual identified on Schedule 1 has purchased or sold any Shares
within the last 60 days.
(d) Except as set forth on Schedule 2, no person other than
the Reporting Persons is known to have the right to receive dividends from, or
the proceeds from the sale of, such Shares. Except as set forth on Schedule 2,
no person other than the Reporting Persons (and, by virtue of his position as
director or executive officer of Point West, one or more person identified on
Schedule 1) is known to have the power to direct the receipt of dividends from,
or the proceeds from the sale of, such Shares.
(e) On December 20, 1999, the reporting persons ceased to
beneficially own more than 5% of the outstanding Shares.
<PAGE>
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CUSIP No. 335914206 13D Page 7 of 9 Pages
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SIGNATURE
After reasonable inquiry and to the best of their knowledge
and belief, the undersigned certify that the information set forth in this
statement is true, complete and correct.
Date: December 22, 1999
POINT WEST VENTURES, L.P.
By: Point West Venture Management, LLC,
its general partner
By: /s/ALAN B. PERPER
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Alan B. Perper, its President
POINT WEST VENTURE MANAGEMENT, LLC
By: /s/ALAN B. PERPER
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Alan B. Perper, its President
POINT WEST CAPITAL CORPORATION
By: /s/ALAN B. PERPER
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Alan B. Perper, its President
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CUSIP No. 335914206 13D Page 8 of 9 Pages
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Schedule 2 to Schedule 13D
Schedule 2 of the Schedule 13D is hereby amended and restated to read as
follows.
Information with respect to shares purchased by Bradley Rotter.
Transaction Date Shares Price
---------------- -------- --------
9/8/97 10,000 $2.7125
9/25/97 1,500 $3.1875
10/2/97 7,400 $3.1875
10/6/97 9,600 $3.1250
2/18/98 6,800 $5.8750
3/4/98 2,500 $5.8750
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Total 37,800
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Information with respect to shares sold by Bradley Rotter.
Transaction Date Shares Price
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4/14/99 9,300 $2.0000
4/28/99 3,400 $1.8750
5/14/99 2,900 $1.8750
5/17/99 10,500 $1.8750
5/18/99 3,500 $1.8125
5/19/99 1,500 $1.8125
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Total 31,100
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Mr. Rotter has the sole power to vote and dispose of the 6,700
shares held by him as of May 31, 1999. Mr. Rotter has the right
to receive dividends from or the proceeds from the sale of these
shares.
Information with respect to shares sold by Ventures.
September 1998 Sales
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Transaction Date Shares Price
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9/15/98 1,500 $2.7500
9/16/98 10,000 $2.7500
9/18/98 1,500 $2.7500
9/21/98 6,000 $2.6875
9/23/98 2,500 $3.0625
9/23/98 7,500 $3.0000
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Total 29,000
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<PAGE>
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CUSIP No. 335914206 13D Page 9 of 9 Pages
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April 1999 Sales
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Transaction Date Shares Price
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4/14/99 11,600 $2.0000
4/15/99 3,300 $2.0000
4/16/99 60,000 $2.0010
4/21/99 19,500 $2.0032
4/22/99 13,200 $2.0000
4/23/99 3,100 $2.0000
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Total 110,700
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May 1999 Sales
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Transaction Date Shares Price
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5/18/99 5,400 $1.8750
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Total 5,400
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August 1999 Sales
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Transaction Date Shares Price
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8/6/99 15,900 $1.7500
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Total 15,900
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September 1999 Sales
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Transaction Date Shares Price
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9/13/99 3,500 $1.0000
9/15/99 400 $1.0000
9/16/99 2,200 $1.0000
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Total 6,100
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October 1999 Sales
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Transaction Date Shares Price
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10/7/99 2,000 $1.0000
10/15/99 4,000 $1.0000
10/20/99 60,400 $1.1314
10/21/99 6,000 $1.3125
10/29/99 5,000 $1.2500
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Total 77,400
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November 1999 Sales
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Transaction Date Shares Price
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11/3/99 2,000 $1.0938
11/5/99 5,000 $1.0625
11/11/99 9,500 $1.1250
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Total 16,500
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December 1999 Sales
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Transaction Date Shares Price
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12/17/99 117,500 $2.9139
12/20/99 17,275 $3.0932
12/20/99 300,000 $2.6620
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Total 434,775
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