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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D/A
Under the Securities Exchange Act of 1934
(Amendment No. 3)
Golden Books Family Entertainment, Inc.
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(Name of Issuer)
Common Stock, par value
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(Title of Class of Securities)
380804104
(CUSIP Number)
Reuben S. Leibowitz
E.M. Warburg Pincus & Co., Inc.
466 Lexington Avenue
New York, New York 10017
(212) 878-0600
- -------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
- with a copy to -
Laurence D. Weltman, Esq.
Willkie Farr & Gallagher
153 East 53rd Street
New York, New York 10022
March 10, 1998
- -------------------------------------------------------------------------------
(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 |_| .
Note: Schedules filed in paper format shall include a signed original and
five copies of the schedule, including all exhibits. See ss. 240.13d-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).
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SCHEDULE 13D
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CUSIP No. 380804104
- ---------------------------------------------------------------------------
- ----------- ---------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Warburg, Pincus Ventures, L.P. I.D. # 13-3784037
- ----------- ---------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [X]
- ----------- ---------------------------------------------------------------
3 SEC USE ONLY
- ----------- ---------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
- ----------- ---------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e)
[ ]
- ----------- ---------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------- --------- -------------------------------------------
7 SOLE VOTING POWER
0
NUMBER OF
SHARES --------- -------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 15,019,771
EACH --------- -------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 0
WITH --------- -------------------------------------------
10 SHARED DISPOSITIVE POWER
11,115,000
- ----------- ---------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
15,019,771
- ----------- ---------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
- ---------- ----------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
41.2%
- ----------- ---------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- ----------- ---------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE,
RESPONSES TO ITEMS 1-7 (INCLUDING EXHIBITS) OF
THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
2
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SCHEDULE 13D
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CUSIP No 380804104
- ---------------------------------------------------------------------------
- ----------- ---------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Warburg, Pincus & Co. I.D. # 13-6358475
- ----------- ---------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [X]
- ----------- ---------------------------------------------------------------
3 SEC USE ONLY
- ----------- ---------------------------------------------------------------
4 SOURCE OF FUNDS*
AF
- ----------- ---------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- ----------- ---------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- --------------------- --------- -------------------------------------------
7 SOLE VOTING POWER
0
NUMBER OF --------- ------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY 15,019,771
OWNED BY --------- ------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 0
PERSON --------- ------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
11,115,000
- ----------- --------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
15,019,771
- ----------- --------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- ----------- --------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
41.2%
- ----------- --------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- ----------- --------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE
ATTESTATION.
3
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SCHEDULE 13D
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CUSIP No 380804104
- --------------------------------------------------------------------------
- ----------- --------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Golden Press Holding, L.L.C.
- ----------- --------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [X]
- ----------- --------------------------------------------------------------
3 SEC USE ONLY
- ----------- --------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
- ----------- --------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- ----------- --------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------- --------- -------------------------------------------
7 SOLE VOTING POWER
0
NUMBER OF
SHARES --------- -------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 15,019,771
EACH --------- -------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH --------- -------------------------------------------
10 SHARED DISPOSITIVE POWER
11,115,000
- ----------- ---------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
15,019,771
- ----------- ---------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
- ----------- ---------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
41.2%
- ----------- ---------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- ----------- ---------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE
ATTESTATION.
4
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SCHEDULE 13D
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CUSIP No. 380804104
- --------------------------------------------------------------------------
- ----------- --------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
E.M. Warburg, Pincus & Co., LLC I.D. # 13-3536050
- ----------- --------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [X]
- ----------- --------------------------------------------------------------
3 SEC USE ONLY
- ----------- --------------------------------------------------------------
4 SOURCE OF FUNDS*
AF
- ----------- --------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- ----------- --------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- --------------------- --------- ------------------------------------------
7 SOLE VOTING POWER
0
NUMBER OF
SHARES --------- -------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 15,019,771
EACH --------- -------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 0
WITH --------- -------------------------------------------
10 SHARED DISPOSITIVE POWER
11,115,000
- ----------- ---------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
15,019,771
- ----------- ---------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
- ----------- ---------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
41.2%
- ----------- ---------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- ----------- ---------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE
ATTESTATION.
5
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Introductory Note.
-----------------
This Amendment No. 3 amends the Schedule 13D filed by the Reporting
Entities on February 13, 1996, as amended by Amendment No. 1 filed by the
Reporting Entities on May 16, 1996 and Amendment No. 2 filed by the Reporting
Entities on March 7, 1997 (together, the "Schedule 13D"), relating to the Common
Stock, par value $0.01 per share (the "Common Stock"), of Golden Books Family
Entertainment, Inc., a Delaware corporation, and is being filed pursuant to Rule
13d-2 of the General Rules and Regulations under the Securities Exchange Act of
1934, as amended (the "Exchange Act"). Unless otherwise indicated, all
capitalized terms used but not defined herein shall have the same meaning as set
forth in the Schedule 13D.
The Reporting Entities are hereby reporting a change in their
beneficial ownership of the Common Stock caused by (i) the fact that the Warrant
owned by GP Holding to purchase 3,250,000 shares of Common Stock will become
exercisable on May 8, 1998 in accordance with the terms of the Warrant; (ii) the
receipt by GP Holding of quarterly dividends of Common Stock pursuant to the
terms of the Certificate of Designation relating to the Preferred Shares; and
(iii) a decrease in the number of shares to which the Irrevocable Proxies relate
caused by the sale of certain of such shares by the holders of such shares. As a
result of such transactions, the percentage of Common Stock that may be deemed
to be beneficially owned by the Reporting Entities has increased from 34.7% to
41.2%.
Item 5. Interest in Securities of the Issuer
------------------------------------
Item 5 of the Schedule 13D is hereby amended by deleting subparagraphs
(a) and (b) therein and replacing them with the following:
(a) and (b). GP Holding may be deemed to beneficially own the
3,904,771 shares of Common Stock to which the Irrevocable Proxies relate. This
number is expected to decrease, as such shares are entitled to be transferred to
third parties pursuant to the terms of the Irrevocable Proxies. Each of the
Reporting Entities may be deemed to share the power to vote or direct the voting
of such shares and therefore to beneficially own such shares. To the knowledge
of the Reporting Entities, the power to direct the disposition of such shares is
held by Richard Bernstein and certain of his affiliates. Additionally, on the
date hereof, GP Holding owns of record 1,365,000 shares of Common Stock received
as dividends on the Preferred Shares held by GP Holding. GP Holding may also
6
<PAGE>
be deemed to beneficially own the 6,500,000 shares of Common Stock issuable upon
conversion of the Preferred Shares and the 3,250,000 shares issuable upon
exercise of the Warrant. Each of the Reporting Entities may be deemed to share
the power to vote and dispose of such shares and therefore to beneficially own
such shares. Based on the 26,887,313 shares of Common Stock outstanding on
November 7, 1997 (as reported by the Company in its Quarterly Report on Form
10-Q dated November 12, 1997 and treating as outstanding the shares of Common
Stock issuable upon conversion of the Preferred Shares and exercise of the
Warrant), the Reporting Entities beneficially own approximately 41.2% of the
voting power relating to the Common Stock. In addition, GP Holding will continue
to receive 780,000 shares of Common Stock annually as a dividend on the
Preferred Shares through May 8, 2000, subject to adjustment, as described in
Item 6.
7
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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: March 20, 1998
GOLDEN PRESS HOLDING, L.L.C.
By: Warburg, Pincus Ventures, L.P.,
Member
By: Warburg, Pincus & Co.,
General Partner
By: /s/ Stephen M. Distler
---------------------
Name: Stephen M. Distler
Title: Partner
WARBURG, PINCUS VENTURES, L.P.
By: Warburg, Pincus & Co.,
General Partner
By: /s/ Stephen M. Distler
---------------------
Name: Stephen M. Distler
Title: Partner
WARBURG, PINCUS & CO.
By: /s/ Stephen M. Distler
---------------------
Name: Stephen M. Distler
Title: Partner
E.M. WARBURG, PINCUS & CO., LLC
By: /s/ Stephen M. Distler
---------------------
Name: Stephen M. Distler
Title: Managing Director
8
<PAGE>
SCHEDULE I
----------
Set forth below is the name, position and present principal occupation
of each of the general partners of Warburg, Pincus & Co. ("WP") and each of
the members of E.M. Warburg, Pincus & Co., LLC ("EMW"). The sole general
partner of Warburg, Pincus Ventures, L.P. ("Ventures") is WP. WP, EMW and
Ventures are hereinafter collectively referred to as the "Reporting
Entities." Except as otherwise indicated, the business address of each of
such persons is 466 Lexington Avenue, New York, New York 10017, and each of
such persons is a citizen of the United States.
General Partners of WP
----------------------
Present Principal Occupation
in Addition to Position with
WP, and Positions with the
Name Reporting Entities
- ---- ----------------------------
Joel Ackerman Managing Director and Member,
EMW
Susan Black Managing Director and Member,
EMW
Christopher W. Brody Managing Director and Member
EMW
Harold Brown Senior Managing Director and
Member, EMW
Errol M. Cook Managing Director and Member,
EMW
W. Bowman Cutter Managing Director and Member,
EMW
Elizabeth B. Dater Managing Director and Member,
EMW
Stephen Distler Managing Director, Member and
Treasurer, EMW
Harold W. Ehrlich Managing Director and Member,
EMW
Louis G. Elson Managing Director and Member,
EMW
John L. Furth Vice Chairman of the Board
and Member, EMW
<PAGE>
Stewart K.P. Gross Managing Director and Member,
EMW
Patrick T. Hackett Managing Director and Member,
EMW
Jeffrey A. Harris Managing Director and Member,
EMW
A. Michael Hoffman Managing Director and Member,
EMW
William H. Janeway Managing Director and Member,
EMW
Douglas M. Karp Managing Director and Member,
EMW
Charles R. Kaye Managing Director and Member,
EMW
Henry Kressel Managing Director and Member,
EMW
Joseph P. Landy Managing Director and Member,
EMW
Sidney Lapidus Managing Director and Member,
EMW
Kewsong Lee Managing Director and Member,
EMW
Reuben S. Leibowitz Managing Director and Member,
EMW
S. Joshua Lewis Managing Director and Member,
EMW
David E. Libowitz Managing Director and Member,
EMW
Brady T. Lipp Managing Director and Member,
EMW
Stephen J. Lurito Managing Director and Member,
EMW
Spencer S. Marsh III Managing Director and Member,
EMW
<PAGE>
Lynn S. Martin Managing Director and Member,
EMW
Edward J. McKinley Managing Director and Member,
EMW
Rodman W. Moorhead III Senior Managing Director and
Member, EMW
Maryanne Mullarkey Managing Director and Member,
EMW
Howard H. Newman Managing Director and Member,
` EMW
Gary D. Nusbaum Managing Director and Member,
EMW
Sharon B. Parente Managing Director and Member,
EMW
Dalip Pathak Managing Director and Member,
EMW
Daphne D. Philipson Managing Director and Member,
EMW
Lionel I. Pincus Chairman of the Board, CEO,
and Managing Member, EMW;
and Managing Partner, Pincus
& Co.
Eugene L. Podsiadlo Managing Director and Member,
EMW
Ernest H. Pomerantz Managing Director and Member,
EMW
Brian S. Posner Managing Director and Member,
EMW
Arnold M. Reichman Managing Director and Member,
EMW
Roger Reinlieb Managing Director and Member,
EMW
John D. Santoleri Managing Director and Member,
EMW
<PAGE>
Steven G. Schneider Managing Director and Member,
EMW
Sheila N. Scott Managing Director and Member,
EMW
Eugene J. Siembieda Managing Director and Member,
EMW
James E. Thomas Managing Director and Member,
EMW
John L. Vogelstein Vice Chairman of the Board
and Member, EMW
Elizabeth H. Weatherman Managing Director and Member,
EMW
Pincus & Co.*
NL & Co.**
- ------------------------
* New York limited partnership; its primary activity is ownership in WP and
EMW.
** New York limited partnership; its primary activity is
ownership in WP.
<PAGE>
Members of EMW
Present Principal Occupation
in Addition to Position with
EMW, and Positions with the
Name Reporting Entities
- ----- ----------------------------
Joel Ackerman Partner, WP
Susan Black Partner, WP
Christopher W. Brody Partner, WP
Harold Brown Partner, WP
Dale C. Christensen(1)
Errol M. Cook Partner, WP
W. Bowman Cutter Partner, WP
Elizabeth B. Dater Partner, WP
Stephen Distler Partner, WP
P. Nicholas Edwards(2) Partner, WP
Harold W. Ehrlich Partner, WP
Louis G. Elson Partner, WP
John L. Furth Partner, WP
Stewart K.P. Gross Partner, WP
Patrick T. Hackett Partner, WP
Jeffrey A. Harris Partner, WP
A. Michael Hoffman Partner, WP
William H. Janeway Partner, WP
Douglas M. Karp Partner, WP
Charles R. Kaye Partner, WP
Richard H. King(2)
Henry Kressel Partner, WP
Joseph P. Landy Partner, WP
<PAGE>
Sidney Lapidus Partner, WP
Kewsong Lee Partner, WP
Reuben S. Leibowitz Partner, WP
S. Joshua Lewis Partner, WP
David E. Libowitz Partner, WP
Brady T. Lipp Partner, WP
Stephen J. Lurito Partner, WP
Spencer S. Marsh III Partner, WP
Lynn S. Martin Partner, WP
Edward J. McKinley Partner, WP
Rodman W. Moorhead III Partner, WP
Maryanne Mullarkey Partner, WP
Howard H. Newman Partner, WP
Gary D. Nusbaum Partner, WP
Sharon B. Parente Partner, WP
Dalip Pathak Partner, WP
Daphine D. Philipson Partner, WP
Lionel I. Pincus Managing Partner, WP;
Chairman of the Board and
CEO, EMW; Managing Partner,
Pincus & Co.
Eugene L. Podsiadlo Partner, WP
Ernest H. Pomerantz Partner, WP
Brian S. Posner Partner, WP
Arnold M. Reichman Partner, WP
Roger Reinlieb Partner, WP
John D. Santoleri Partner, WP
<PAGE>
Steven G. Schneider Partner, WP
Sheila N. Scott Partner, WP
Eugene J. Siembieda Partner, WP
Dominic H. Shorthouse(2)
Chang Q. Sun(3)
James E. Thomas Partner, WP
John L. Vogelstein Partner, WP
Elizabeth H. Weathermen Partner, WP
Pincus & Co.*
- -----------------------
(1) Citizen of Canada
(2) Citizen of United Kingdom
(3) Citizen of People's Republic of China
* New York limited partnership; its primary activity is ownership in WP.
