SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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SCHEDULE 14D-1
TENDER OFFER STATEMENT PURSUANT TO SECTION 14(D)(1)
OF THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 1)
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RESOURCES ACCRUED MORTGAGE INVESTORS L.P.-SERIES 86
(Name of Subject Company)
BIGHORN ASSOCIATES LLC
PRESIDIO CAPITAL INVESTMENT COMPANY, LLC
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(Bidders)
UNITS OF LIMITED PARTNERSHIP INTEREST
(Title of Class of Securities)
NONE
(Cusip Number of Class of Securities)
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David King
Presidio Capital Investment Company, LLC
527 Madison Avenue
New York, New York 10022
(212) 319-3400
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications on Behalf of Bidders)
Copy to:
David J. Heymann
Post & Heymann, LLP
100 Jericho Quadrangle
Jericho, New York 11753
(516) 681-3636
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CALCULATION OF FILING FEE
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Transaction Valuation*: $3,256,000 Amount of Filing Fee: $651.20
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* For purposes of calculating the fee only. This amount assumes the purchase of
148,000 units of limited partnership interest ("Units") of the subject
partnership for $22 per Unit. The amount of the filing fee, calculated in
accordance with Section 14(g)(3) and Rule 0-11(d) under the Securities Exchange
Act of 1934, as amended, equals 1/50th of one percent of the aggregate of the
cash offered by the bidders.
(cover page 1 of 2)
<PAGE>
(cover page 2 of 2)
|x| Check box if any part of the fee is offset as provided by Rule 0-11(a)(2)
and identify the filing with which the offsetting fee was previously paid.
Identify the previous filing by registration statement number, or the form or
schedule and the date of its filing.
Amount Previously Paid: $651.20
Form or Registration No.: 14D-1
Filing Party: Bighorn Associates LLC
Date Filed: November 17, 1999
<PAGE>
CUSIP No. NONE 14D-1/A Page 3
- --------------------------------------------------------------------------------
1. Name of Reporting Persons; I.R.S. Identification Nos. of Above Persons
Bighorn Associates LLC
11-3516771
- --------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group
(a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3. SEC Use Only
- --------------------------------------------------------------------------------
4 Sources of Funds
WC
- --------------------------------------------------------------------------------
5. Check if Disclosure of Legal Proceedings is Required Pursuant to Items
2(e) or 2(f) |_|
- --------------------------------------------------------------------------------
6. Citizenship or Place of Organization
Delaware
- --------------------------------------------------------------------------------
7. Aggregate Amount Beneficially Owned by Each Reporting Person
None
- --------------------------------------------------------------------------------
8. Check if the Aggregate Amount in Row 7 Excludes Certain Shares |_|
- --------------------------------------------------------------------------------
9. Percent of Class Represented by Amount in Row 7
0
- --------------------------------------------------------------------------------
10. Type of Reporting Person
OO
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<PAGE>
CUSIP No. NONE 14D-1 Page 4
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1. Name of Reporting Persons; I.R.S. Identification Nos. of Above Persons
Presidio Capital Investment Company, LLC
06-1509220
- --------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group
(a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3. SEC Use Only
- --------------------------------------------------------------------------------
4 Sources of Funds
N/A
- --------------------------------------------------------------------------------
5. Check if Disclosure of Legal Proceedings is Required Pursuant to Items
2(e) or 2(f) |_|
- --------------------------------------------------------------------------------
6. Citizenship or Place of Organization
Delaware
- --------------------------------------------------------------------------------
7. Aggregate Amount Beneficially Owned by Each Reporting Person
3,199*
- --------------------------------------------------------------------------------
8. Check if the Aggregate Amount in Row 7 Excludes Certain Shares |_|
- --------------------------------------------------------------------------------
9. Percent of Class Represented by Amount in Row 7
.97%
- --------------------------------------------------------------------------------
10. Type of Reporting Person
CO
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* 1,389 units are owned by T-Two Partnership Acquisition Company, L.P. and
1,810 are owned by Presidio Partnership II Corp., both of which are
directly or indirectly 100% owned by Presidio Capital Investment Company,
LLC
<PAGE>
SCHEDULE 14D-1
This Amendment No. 1 amends the Tender Offer Statement on Schedule 14D-1
(the "Statement") filed with the Securities and Exchange Commission on November
17, 1999 by Bighorn Associates LLC, a Delaware limited liability company (the
"Purchaser"), and Presidio Capital Investment Company, LLC, relating to the
tender offer by the Purchaser to purchase up to 148,000 outstanding units of
limited partnership interest ("Units") of Resources Accrued Mortgage Investors
L.P.-Series 86 (the "Partnership"), at a purchase price of $22 per Unit, net to
the seller in cash, upon the terms and subject to the conditions set forth in
the Offer to Purchase dated November 17, 1999 (the "Offer to Purchase") and the
related Letter of Transmittal (which, together with any supplements or
amendments, collectively constitute the "Offer").
ITEM 1. SECURITY AND SUBJECT COMPANY.
Item 1(b) is hereby amended by adding the following:
"The Purchaser is offering to purchase the Units for $22 per Unit. A
tendering Limited Partner will not be required to pay any fees or commissions to
the Bidders in connection with a tender. However, a tendering Limited Partner
will be responsible for fees or commissions imposed by such Limited Partner's
broker, custodian, IRA trustee, or other owner of record for such Limited
Partner's Units. Although the Bidders do not know the fees charged by these
brokers and trustees, the Bidders believe that such fees are typically $25-$50
per transaction.
In addition, Limited Partners should be advised that the offer price was
determined without any arms-length negotiations between the Bidders and the
Partnership.
Finally, Bighorn is making its offer with a view to making a return on our
investment. Accordingly, in establishing the purchase price, Bighorn was
motivated to set the lowest price for the units that might be acceptable to
Limited Partners consistent with Bighorn's objectives. Such objectives and
motivations may conflict with a Limited Partner's interest in receiving the
highest price for their Units."
5
<PAGE>
SIGNATURE
After due 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.
BIGHORN ASSOCIATES LLC
By: Presidio Capital Investment
Company, LLC, member
By /s/ David King
---------------------------------
David King
President
PRESIDIO CAPITAL INVESTMENT
COMPANY, LLC
By /s/ David King
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David King
President
Dated: November 30, 1999
