SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D/A
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
BITSTREAM INC.
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(Name of Issuer)
Class A Common Stock, par value $.01 per share
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(Title of Class of Securities)
091736 10 8
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(CUSIP Number)
Paul A. Gajer, Esq.
Rubin Baum Levin Constant & Friedman
30 Rockefeller Plaza, 29th Floor
New York, New York 10112
(212) 698-7700
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(Name, Address and Telephone Number of Person Authorized to Receive Notices
and Communications)
December 13, 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 Schedule 13D, and is filing this
schedule because of " 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the
following box. 9
NOTE: Schedules filed in paper format shall include a signed original and five
copies of this schedule, including all exhibits. See Rule 13d-7(b) for other
parties to whom copies are to be sent.
1 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).
(Continued on following page(s))
Page 1 of 7
<PAGE>
CUSIP No. 091736 10 8 13D Page 2 of 7 Pages
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1 NAME OF REPORTING PERSONS
Gesfid S.A.
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
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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*
None
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) G
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6 CITIZENSHIP OR PLACE OF ORGANIZATION Switzerland
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7 SOLE VOTING POWER
913,161 shares 12.0%
Number of -----------------------------------------------------------
Shares 8 SHARED VOTING POWER
Beneficially -----------------------------------------------------------
Owned By 9 SOLE DISPOSITIVE POWER
Each 913,161 shares 12.0%
Reporting -----------------------------------------------------------
Person 10 SHARED DISPOSITIVE POWER
With
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
913,161 shares
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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)
12.0%
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14 TYPE OF REPORTING PERSON*
CO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. 091736 10 8 13D Page 3 of 7 Pages
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1 NAME OF REPORTING PERSONS
Antonio Saladino
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
- --------------------------------------------------------------------------------
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*
None
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e) G
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION Switzerland
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
913,161 shares 12.0%
Number of -----------------------------------------------------------
Shares 8 SHARED VOTING POWER
Beneficially -----------------------------------------------------------
Owned By 9 SOLE DISPOSITIVE POWER
Each 913,161 shares 12.0%
Reporting -----------------------------------------------------------
Person 10 SHARED DISPOSITIVE POWER
With
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
913,161 shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
12.0%
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14 TYPE OF REPORTING PERSON*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
ITEM 1. SECURITY AND ISSUER
This statement, dated December 15, 1999, constitutes Amendment No. 1 to
the Schedule 13D dated December 10, 1999 (the "Schedule"), regarding the
Reporting Persons' ownership of the Common Stock of Bitstream Inc., a Delaware
corporation ("Bitstream").
Capitalized terms not otherwise defined herein shall have the meaning
ascribed to them in the Schedule.
This Amendment No. 1 to the Schedule is filed in accordance with Rule
13d-2 of the Securities Exchange Act of 1934, as amended, by the Reporting
Person. It shall refer only to information which has materially changed since
the filing of the Schedule.
ITEM 4. PURPOSE OF TRANSACTION
On December 13, 1999, December 14, 1999 and December 15, 1999, the
Reporting Persons sold shares of Common Stock in a series of open market
transactions.
The Reporting Persons may sell additional shares of Common Stock from
time to time in open market or in privately negotiated transactions. In
addition, the Reporting Persons may take other actions with respect to the
shares of Common Stock. All of the transactions with respect to the shares of
Common Stock may be effected from time to time based upon the capital
requirements of any of the Reporting Persons and the market price of the shares.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
(a) The following list sets forth the aggregate number and percentage
(based on 7,397,049 shares of Common Stock shares of Common Stock outstanding
plus such number of warrants included in the Reporting Persons' beneficial
ownership) of outstanding shares of Common Stock owned beneficially by the
Reporting Persons, as of December 1, 1999:
Shares of Percentage of Shares
Common Stock of Common Stock
Name Beneficially Owned Beneficially Owned
- ---- ------------------ ------------------
Gesfid S.A. 913,161 shares 12.0%
Antonio Saladino 913,161 shares 12.0%
(b) The Reporting Persons have sole power to vote and dispose of
913,161 shares of Common Stock (which amount includes warrants to purchase an
aggregate of 228,886 shares of Common Stock), representing approximately 12.0%
of the outstanding Common Stock.
(c) The following is a description of all transactions in shares of
Common Stock by the reporting person effected from December 10, 1999 through
December 15, 1999, inclusive.
Page 4 of 7
<PAGE>
<TABLE>
<CAPTION>
Number of Shares
Name of Shareholder Date of Disposition Beneficially Disposed of Price per Share
- ------------------- ------------------- ------------------------ ---------------
<S> <C> <C> <C>
Gesfid S.A. December 13, 1999 50,000 $7.2182
Gesfid S.A. December 13, 1999 15,600 $7.125
Gesfid S.A. December 14, 1999 50,000 $5.6394
Gesfid S.A. December 14, 1999 14,000 $5.9844
Gesfid S.A. December 15, 1999 50,000 $7.6123
Gesfid S.A. December 15, 1999 50,000 $7.311
Gesfid S.A. December 15, 1999 50,000 $7.8532
Gesfid S.A. December 15, 1999 50,000 $6.1247
Gesfid S.A. December 15, 1999 50,000 $7.1731
Gesfid S.A. December 15, 1999 40,900 $7.509
</TABLE>
(d) Not Applicable.
(e) Not Applicable.
Page 5 of 7
<PAGE>
SIGNATURES
After reasonable inquiry and to the best of the undersigned's knowledge
and belief, the undersigned certifies that the information set forth in this
statement is true, complete and correct.
Dated: December 15, 1999
GESFID, S.A.
By: /s/ Giovanni Saladino
-----------------------------
Name: Giovanni Saladino
Title: Director of the Executive Board
By: /s/ Antonio Berti
-----------------------------
Name: Antonio Berti
Title: Member of the Executive Board
Page 6 of 7
<PAGE>
SIGNATURES
After reasonable inquiry and to the best of the undersigned's knowledge
and belief, the undersigned certifies that the information set forth in this
statement is true, complete and correct.
Dated: December 15, 1999
/s/ Antonio Saladino
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ANTONIO SALADINO
