<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
SCHEDULE 13D
(Rule 13d-101)
(Amendment No. 1)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
RULE 13d-2(a)
AAON, INC.
(Name of Issuer)
COMMON STOCK, $.004 par value per share
(Title of Class of Securities)
000360206
(CUSIP Number)
BAY HARBOUR MANAGEMENT, L.C.
TOWER INVESTMENT GROUP, INC.
STEVEN A. VAN DYKE
777 South Harbour Island Boulevard, Suite 270
Tampa, Florida 33602
(813) 272-1992
DOUGLAS P. TEITELBAUM
885 Third Avenue
34th Floor
New York, New York 10022
(212) 371-2211
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
January 12, 1999
(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(e), 13d-1(f) or 13d-1(g), 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 Rule 13d-7(b) for
other parties to whom copies are to be sent.
(Continued on the following pages)
(Page 1 of 8 Pages)
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- ------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON Steven A. Van Dyke
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON N/A
- ------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [_]
(b) [X]
- ------------------------------------------------------------------------------
3 SEC USE ONLY
- ------------------------------------------------------------------------------
4 SOURCE OF FUNDS OO,PF
- ------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e) [_]
- ------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION United States
- ------------------------------------------------------------------------------
7 SOLE VOTING POWER 0
Number of
Shares -----------------------------------------------------------
8 SHARED VOTING POWER 859,990
Beneficially
Owned by
-----------------------------------------------------------
Each 9 SOLE DISPOSITIVE POWER 0
Reporting
Person -----------------------------------------------------------
10 SHARED DISPOSITIVE POWER 859,990
With
- ------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
859,990
- ------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[_]
- ------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13.84%
- ------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON IN, HC
- ------------------------------------------------------------------------------
<PAGE>
13D
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CUSIP No. 000360206 Page 3 of 8 Pages
- ----------------------- ---------------------
- ------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON Douglas P. Teitelbaum
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON N/A
- ------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [_]
(b) [X]
- ------------------------------------------------------------------------------
3 SEC USE ONLY
- ------------------------------------------------------------------------------
4 SOURCE OF FUNDS OO
- ------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e) [_]
- ------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION United States
- ------------------------------------------------------------------------------
7 SOLE VOTING POWER 0
Number of
Shares -----------------------------------------------------------
8 SHARED VOTING POWER 859,990
Beneficially
Owned By
-----------------------------------------------------------
Each 9 SOLE DISPOSITIVE POWER 0
Reporting
Person -----------------------------------------------------------
10 SHARED DISPOSITIVE POWER 859,990
With
- ------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
859,990
- ------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[_]
- ------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13.84%
- ------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON IN, HC
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<PAGE>
13D
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CUSIP No. 000360206 Page 4 of 8 Pages
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- ------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON Tower Investment Group, Inc.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 59-2924229
- ------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [_]
(b) [X]
- ------------------------------------------------------------------------------
3 SEC USE ONLY
- ------------------------------------------------------------------------------
4 SOURCE OF FUNDS OO
- ------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e) [_]
- ------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION Florida
- ------------------------------------------------------------------------------
7 SOLE VOTING POWER 859,990
Number of
Shares -----------------------------------------------------------
8 SHARED VOTING POWER 0
Beneficially
Owned by
-----------------------------------------------------------
Each 9 SOLE DISPOSITIVE POWER 859,990
Reporting
Person -----------------------------------------------------------
10 SHARED DISPOSITIVE POWER 0
With
- ------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
859,990
- ------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[_]
- ------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13.84%
- ------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON HC
- ------------------------------------------------------------------------------
<PAGE>
13D
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CUSIP No. 000360206 Page 5 of 8 Pages
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- ------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON Bay Harbour Management, L.C.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON 59-3418243
- ------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [_]
(b) [X]
- ------------------------------------------------------------------------------
3 SEC USE ONLY
- ------------------------------------------------------------------------------
4 SOURCE OF FUNDS OO
- ------------------------------------------------------------------------------
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e) [_]
5
- ------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION Florida
6
- ------------------------------------------------------------------------------
7 SOLE VOTING POWER 859,990
Number of
Shares -----------------------------------------------------------
8 SHARED VOTING POWER 0
Beneficially
Owned by
-----------------------------------------------------------
Each 9 SOLE DISPOSITIVE POWER 859,990
Reporting
Person -----------------------------------------------------------
10 SHARED DISPOSITIVE POWER 0
With
- ------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
859,990
- ------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[_]
- ------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13.84%
- ------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON IA
- ------------------------------------------------------------------------------
<PAGE>
13D
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CUSIP No. 000360206 Page 6 of 8 Pages
- ----------------------- ---------------------
This Amendment No. 1 amends and supplements the Statement on Schedule
13D, originally filed with the U.S. Securities and Exchange Commission (the
"SEC") on October 27, 1998 (the "Schedule 13D"), by Bay Harbour Management, L.C.
("Bay Harbour"), Tower Investment Group, Inc. ("Tower"), as the majority
stockholder of Bay Harbour, Steven A. Van Dyke ("Van Dyke"), in his capacity as
a stockholder and President of Tower, and Douglas P. Teitelbaum ("Teitelbaum"),
in his capacity as a stockholder of Tower.
Item 3. Source and Amount of Funds or Other Consideration.
From May 1, 1997 through February 5, 1999, Bay Harbour purchased in
secondary trades on the open-market for certain of its managed accounts, 859,990
shares of Aaon Common Stock (the "Shares"), for an aggregate purchase price of
$8,327,618.60. The source of the funds used by Bay Harbour to purchase the
Shares was investment accounts managed on a discretionary basis by Bay Harbour.
Item 5. Interest in Securities of the Issuer.
Item 5 is hereby amended in its entirety to read as follows:
(a) As of the filing date of this Statement, each Reporting Person
beneficially owns 859,990 shares of Aaon Common Stock, which represent
approximately 13.84% of Aaon Common Stock outstanding based upon 6,211,949
shares of Aaon Common Stock outstanding as set forth in a 10-Q filed on November
12, 1998 with the SEC. For purposes of disclosing the number of shares
beneficially owned by each of the Reporting Persons, (A) Van Dyke and Teitelbaum
are deemed to beneficially own all shares of Aaon Common Stock that are
beneficially owned by Tower and Bay Harbour and (B) Tower is deemed to
beneficially own all shares of Aaon Common Stock that are beneficially owned by
Bay Harbour.
(b) Each Reporting Person has (i) the sole power to vote or direct the
vote of the 859,990 shares of Aaon Common Stock held by Bay Harbour; and (ii)
the sole power to dispose of or to direct the disposition of such 859,990 shares
of Aaon Common Stock; except that Van Dyke and Teitelbaum share with each other
their voting and disposition power.
(c) Information concerning transactions in the Shares of Aaon Common
Stock by the Reporting Persons is set forth in Exhibit II attached hereto, which
is incorporated herein by reference.
(d) The 859,990 shares of Aaon Common Stock held by Bay Harbour
reported in this Statement are beneficially owned by Van Dyke, Teitelbaum, Tower
and Bay Harbour for the benefit of certain investment partnerships and managed
accounts over which Van Dyke, Teitelbaum, Tower and Bay Harbour control the
power to (i) direct the voting of such shares of Aaon Common Stock and (ii)
dispose of such shares of Aaon Common Stock. The limited partners of the
investment partnerships and the investors in the managed accounts for which Bay
Harbour acts as an investment adviser have the right to participate in the
receipt of dividends from, or proceeds from the sale of, securities held by
their funds or accounts, as the case may be. Other than Trophy Hunter
Investments, Ltd., no such fund, single limited partner of any of such funds nor
any investor in a managed account has the right to receive or the power to
direct the receipt of dividends from, or proceeds from the sale of, shares of
Aaon Common Stock reported in this Schedule 13D representing more than five
percent of the outstanding Aaon Common Stock.
(e) Not applicable
<PAGE>
13D
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CUSIP No. 000360206 Page 7 of 8 Pages
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Item 7. Material to be filed as Exhibits.
Item 7 is hereby supplemented as follows:
EXHIBIT II Information concerning transactions in Shares of Aaon Common
----------
Stock effected by the Reporting Persons.
<PAGE>
13D
- ----------------------- ---------------------
CUSIP No. 000360206 Page 8 of 8 Pages
- ----------------------- ---------------------
SIGNATURES
After reasonable inquiry and to the best knowledge and belief of the
undersigned, the undersigned certifies that the information set forth in this
statement is true, complete and correct.
Dated as of: February 18, 1999 TOWER INVESTMENT GROUP, INC.
By: /s/ Steven A. Van Dyke
----------------------
Name: Steven A. Van Dyke
Title: President
BAY HARBOUR MANAGEMENT, L.C.
By: /s/ Steven A. Van Dyke
----------------------
Name: Steven A. Van Dyke
Title: President
/s/ Steven A. Van Dyke
----------------------
Steven A. Van Dyke
/s/ Douglas P. Teitelbaum
-------------------------
Douglas P. Teitelbaum
<PAGE>
EXHIBIT INDEX
-------------
EXHIBIT II Information concerning transactions in Shares of Aaon Common Stock
- ----------
effected by the Reporting Persons.
<PAGE>
Exhibit II
<TABLE>
<CAPTION>
Name of Purchasing Entity Date of Transaction Number of Shares Price Per Share
- ------------------------- ------------------- ----------------- ---------------
<S> <C> <C> <C>
Bay Harbour Management, L.C. 11/02/98 4,000 $ 9.31
Bay Harbour Management, L.C. 11/03/98 5,000 $ 9.31
Bay Harbour Management, L.C. 11/04/98 8,000 $ 9.44
Bay Harbour Management, L.C. 11/12/98 3,000 $ 9.44
Bay Harbour Management, L.C. 11/20/98 2,000 $10.00
Bay Harbour Management, L.C. 11/30/98 1,100 $ 9.30
Bay Harbour Management, L.C. 12/23/98 10,000 $ 9.44
Bay Harbour Management, L.C. 12/29/98 1,700 $ 9.88
Bay Harbour Management, L.C. 12/30/98 2,000 $ 9.62
Bay Harbour Management, L.C. 01/04/99 5,000 $10.03
Bay Harbour Management, L.C. 01/05/99 4,000 $10.06
Bay Harbour Management, L.C. 01/06/99 10,000 $10.00
Bay Harbour Management, L.C. 01/11/99 5,000 $ 9.94
Bay Harbour Management, L.C. 01/12/99 7,500 $10.06
Bay Harbour Management, L.C. 01/13/99 1,890 $ 9.81
Bay Harbour Management, L.C. 01/20/99 1,800 $ 9.81
Bay Harbour Management, L.C. 01/21/99 3,500 $ 9.56
Bay Harbour Management, L.C. 01/26/99 2,000 $ 9.56
Bay Harbour Management, L.C. 01/27/99 10,000 $ 9.24
Bay Harbour Management, L.C. 01/28/99 1,000 $ 9.31
Bay Harbour Management, L.C. 02/05/99 1,000 $ 9.81
</TABLE>
