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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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SCHEDULE 13G
(RULE 13D-102)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULES 13D-1(B), (C) AND (D) AND AMENDMENTS THERETO FILED
PURSUANT TO RULE 13D-2(B)
GALAXY FOODS COMPANY
(Name of Issuer)
Common Stock, Par Value $.01 per Share
(Title of Class of Securities)
363175
(CUSIP Number)
September 30, 1999
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[ ] Rule 13d-1(b)
[X] Rule 13d-1(c)
[ ] Rule 13d-1(d)
(Continued on following pages)
Page 1 of 5 Pages
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CUSIP NO. SCHEDULE 13G
(cover page continued)
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Finova Mezzanine Capital Inc.
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(A) [ ]
(B) [ ]
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Tennessee
NUMBER OF SHARES 5. SOLE VOTING POWER
915,000
BENEFICIALLY 6. SHARED VOTING POWER
None
OWNED BY EACH 7. SOLE DISPOSITIVE POWER
915,000
REPORTING PERSON 8. SHARED DISPOSITIVE POWER
None
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
915,000
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ]
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
9.06%
12. TYPE OF REPORTING PERSON
CO
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SCHEDULE 13G
ITEM 1(A). NAME OF ISSUER: Galaxy Foods Company
ITEM 1(B). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
2441 Viscount Row, Orlando, Florida 32809
ITEM 2(A). NAME OF PERSON FILING: Finova Mezzanine Capital Inc.
ITEM 2(B). ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE:
500 Church Street, Suite 200, Nashville, TN 37219
ITEM 2(C). CITIZENSHIP: United States (Tennessee)
ITEM 2(D). TITLE OF CLASS OF SECURITIES: Common Stock, Par Value $.01 per share
ITEM 2(E). CUSIP NUMBER: NOT APPLICABLE
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULE 13D-1(B) OR 13D-2(B), CHECK
WHETHER THE PERSON FILING IS:
(A) [ ] BROKER OR DEALER REGISTERED UNDER THE ACT
(B) [ ] BANK AS DEFINED IN SECTION 3(A)(6) OF THE ACT
(C) [ ] INSURANCE COMPANY AS DEFINED IN SECTION 3(A)(19) OF THE
ACT
(D) [ ] INVESTMENT COMPANY REGISTERED UNDER SECTION 8 OF THE
INVESTMENT COMPANY ACT
(E) [ ] INVESTMENT ADVISER REGISTERED UNDER SECTION 203 OF THE
INVESTMENT ADVISERS ACT OF 1940
(F) [ ] EMPLOYEE BENEFIT PLAN, PENSION FUND WHICH IS SUBJECT TO
THE PROVISIONS OF THE EMPLOYEE RETIREMENT INCOME SECURITY
ACT OF 1974 OR ENDOWMENT FUND; SEE
SS.240.13D-1(B)(1)(II)(F)
(G) [ ] PARENT HOLDING COMPANY, IN ACCORDANCE WITH
SS.240.13D-1(B)(II)(G); SEE ITEM 7
(H) [ ] GROUP, IN ACCORDANCE WITH SS.240.13D-1(B)(1)(II)(H)
ITEM 4. OWNERSHIP:
(A) AMOUNT BENEFICIALLY OWNED: 915,000
(B) PERCENT OF CLASS: 9.06%
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SCHEDULE 13G
(C) NUMBER OF SHARES AS TO WHICH SUCH PERSON HAS:
(I) SOLE POWER TO VOTE OR TO DIRECT THE VOTE:
915,000
(II) SHARED POWER TO VOTE OR TO DIRECT THE VOTE:
None
(III) SOLE POWER TO DISPOSE OR TO DIRECT THE DISPOSITION OF:
915,000
(IV) SHARED POWER TO DISPOSE OR TO DIRECT THE DISPOSITION OF:
None
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS.
IF THIS STATEMENT IS BEING FILED TO REPORT THE FACT THAT AS OF
THE DATE HEREOF THE REPORTING PERSON HAS CEASED TO BE THE
BENEFICIAL OWNER OF MORE THAN FIVE PERCENT OF THE CLASS OF
SECURITIES, CHECK THE FOLLOWING [ ].
Not Applicable
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON.
Not Applicable
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE
SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY.
Not Applicable
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP.
Not Applicable
ITEM 9. NOTICE OF DISSOLUTION OF GROUP.
Not Applicable
ITEM 10. CERTIFICATION.
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were not acquired and are not
held for the purpose of or with the effect of changing or influencing
the control of the issuer of the securities and were not acquired and
are not held in connection with or as a participant in any transaction
having that purpose or effect.
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SCHEDULE 13G
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.
FINOVA MEZZANINE CAPITAL INC.
By: /s/ Philip S. Clark
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Name: Philip S. Clark
Title: Vice President -- Group Counsel
Date: October 8, 1999
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