SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D/A
Under the Securities Exchange Act of 1934
(Amendment No. 2)*
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)
January 5, 2000
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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 ss.ss. 240.13d-1(e), 240.13d- 1(f) or 240.13d-1(g), check
the following box. |_|
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) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION Switzerland
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7 SOLE VOTING POWER
736,561 shares 9.9%
Number of -----------------------------------------------------------
Shares 8 SHARED VOTING POWER
Beneficially
Owned By -----------------------------------------------------------
Each 9 SOLE DISPOSITIVE POWER
Reporting 736,561 shares 9.9%
Person
With -----------------------------------------------------------
10 SHARED DISPOSITIVE POWER
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
736,561 shares
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.9%
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14 TYPE OF REPORTING PERSON*
CO
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. 091736 10 8 13D Page 3 of 7 Pages
================================================================================
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) [ ]
- --------------------------------------------------------------------------------
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) [ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION Switzerland
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
736,561 shares 9.9%
Number of -----------------------------------------------------------
Shares 8 SHARED VOTING POWER
Beneficially
Owned By -----------------------------------------------------------
Each 9 SOLE DISPOSITIVE POWER
Reporting 736,561 shares 9.9%
Person ----------------------------------------------------------
With 10 SHARED DISPOSITIVE POWER
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
736,561 shares
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.9%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
ITEM 1. SECURITY AND ISSUER
This statement, dated January 19, 2000, constitutes Amendment No. 2 to
the Schedule 13D dated December 10, 1999, as amended by Amendment No. 1 tp the
Schedule 13D (collectively, 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. 2 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 20, 1999, December 21, 1999 , December 30, 1999, January 5,
2000 and January 6, 2000 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 January 6, 2000:
Shares of Percentage of Shares
Common Stock of Common Stock
Name Beneficially Owned Beneficially Owned
- ---- ------------------ ------------------
Gesfid S.A. 736,561 shares 9.9%
Antonio Saladino 736,561 shares 9.9%
(b) The Reporting Persons have sole power to vote and dispose of
736,561 shares of Common Stock (which amount includes warrants to purchase an
aggregate of 28,886 shares of Common Stock), representing approximately 9.9% 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 15, 1999 through
January 6, 2000, 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 20, 1999 3,000 $6.00
Gesfid S.A. December 21, 1999 15,400 $6.00
Gesfid S.A. December 30, 1999 19,700 $6.0156
Gesfid S.A. January 5, 2000 88,500 $6.1644
Gesfid S.A. January 6, 2000 50,000 $6.6541
</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: January 19, 2000
GESFID, S.A.
By: /s/Giovanni Saladino
----------------------------------------
Name: Giovanni Saladino
Title: Director of the Executive Board
By: /s/ Gianmarco Colombo
----------------------------------------
Name: Gianmarco Colombo
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: January 19, 2000
/s/Antonio Saladino
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ANTONIO SALADINO
Page 7 of 7
