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OMB APPROVAL
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OMB Number 3235-0104
Expires: April 30, 1997
Estimated average burden
hours per response ....... 0.5
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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 3
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
Feinberg Stephen
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(Last) (First) (Middle)
c/o Cerberus Partners, L.P.
950 Third Avenue, 20th Floor
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(Street)
New York, NY 10022
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(City) (State) (Zip)
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2. Date of Event Requiring Statement (Month/Day/Year)
3/15/96
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3. IRS or Social Security Number of Reporting Person (Voluntary)
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4. Issuer Name and Ticker or Trading Symbol
PhoneTel Technologies, Inc. (PNTL)
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5 Relationship of Reporting Person to Issuer
(Check all applicable)
[ ] Director [X]*** 10% Owner
[ ] Officer (give title below) [ ] Other (specify below)
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6. If Amendment, Date of Original (Month/Year)
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Table I -- Non-Derivative Securities Beneficially Owned
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<TABLE>
<CAPTION>
3. Ownership Form:
2. Amount of Securities Direct (D) or
1. Title of Security Beneficially Owned Indirect (I) 4. Nature of Indirect Beneficial Ownership
(Instr. 4) (Instr. 4) (Instr. 5) (Instr.5)
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<S> <C> <C> <C>
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Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
(Print or Type Responses)
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FORM 3 (continued)
Table II -- Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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<TABLE>
<CAPTION>
5. Owner-
3. Title and Amount of Securities ship
Underlying Derivative Security Form of
2. Date Exercisable (Instr. 4) Derivative
and Expiration Date ------------------------------- 4. Conver- Security:
(Month/Day/Year) Amount sion or Direct 6. Nature of
---------------------- or Exercise (D) or Indirect
Date Expira- Number Price of Indirect Beneficial
1. Title of Security Exer- tion of Derivative (I) Ownership
(Instr. 4) cisable Date Title Shares Security (Instr.5) (Instr. 5)
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<S> <C> <C> <C> <C> <C> <C> <C>
Term Note Immed. due Common Stock 2,398,462** ** I By partnerships
6/30/99 and corporations
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Warrant Immed. 4/1/2006 Common Stock 2,032,810* $.01 I By partnerships
per share* and corporations
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</TABLE>
Explanation of Responses:
*Cerberus Partners, L.P., a Delaware limited partnership ("Cerberus"), is the
record holder of 102,412 warrants (the "Warrants") of PhoneTel Technologies,
Inc. ("PhoneTel"), each Warrant entitling the holder thereof, at its option, to
purchase either (i) one (1) share of PhoneTel Series A Special Convertible
Preferred Stock (which is convertible by the holder thereof into twenty (20)
shares of PhoneTel common stock) or (ii) twenty (20) shares of PhoneTel common
stock. Pursuant to participation agreements entered into with Cerberus, (a) Styx
Partners, L.P., a Delaware limited partnership ("Styx"), is the beneficial owner
of 16,772 Warrants, (b) Long Horizons Fund, L.P., a Delaware limited partnership
("Horizons"), is the beneficial owner of 16,772 Warrants, (c) Cerberus
International, Ltd., a corporation organized under the laws of Bahamas
("International"), is the beneficial owner of 10,734 Warrants and (d) Ultra
Cerberus Fund, Ltd., a corporation organized under the laws of the Bahamas
("Ultra"), is the beneficial owner of 1,342 Warrants. Cerberus is the beneficial
owner of 23,696 Warrants.
** Cerberus Partners is the record holder of a term note (the "Note") payable by
PhoneTel in the principal amount of Fourteen Million Five Hundred Thousand
Dollars ($14,500,000), which Note may, at the option of the holder thereof, be
converted into either (i) 833.333 shares of PhoneTel Series B Preferred Stock
(each of which is convertible by the holder thereof into twenty (20) shares of
PhoneTel common stock) for each $100,000 converted or (ii) 16,666.667 shares of
PhoneTel common stock for each $100,000 converted. Pursuant to participation
agreements entered into with Cerberus, (w) Styx is the beneficial owner of
2,374,639 principal amount of the Note, (x) Horizons is the beneficial owner of
$2,374,639 principal amount of the Note, (y) International is the beneficial
owner of $1,519,769 principal amount of the Note and (z) Ultra is the beneficial
owner of $189,971 principal amount of the Note. Cerberus is the beneficial owner
of $3,354,998 principal amount of the Note.
*/** Stephen Feinberg possesses voting and investment control over all
securities owned by Cerberus, Styx, Horizons, International and Ultra. In
addition, pursuant to participation agreements entered into with Cererbus, (i)
32,325 Warrants and $4,576,750 principal amount of the Note are beneficially
owned by various other persons and entities for which Stephen Feinberg possesses
certain investment authority and (ii) 772 Warrants and $109,233 principal amount
of the Note are beneficially owned by a partnership for which Stephen Feinberg
possesses no voting or investment authority. To the extent small variances exist
in the totals provided herein, such variances are due solely to rounding.
***The reporting person's interest is limited to the extent of his pecuniary
interest in Cerberus, Styx, Horizons, International, Ultra and the Funds, if
any.
/s/ Stephen Feinberg 3/25/96
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**Signature of Reporting Person Date
** Intentional misstatements or omissions of facts constitute Federal Criminal
Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient. See Instruction 6 for procedure.
