SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
------------------------------------
SCHEDULE 14D-1
TENDER OFFER STATEMENT PURSUANT TO SECTION 14(D)(1)
OF THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 1)
------------------------------------
HIGH EQUITY PARTNERS L.P. - SERIES 88
(Name of Subject Company)
MILLENNIUM FUNDING IV LLC
PRESIDIO CAPITAL INVESTMENT COMPANY, LLC
----------------------------------------
(Bidders)
UNITS OF LIMITED PARTNERSHIP INTEREST
(Title of Class of Securities)
NONE
(Cusip Number of Class of Securities)
------------------------------------
David G. King, Jr.
Presidio Capital Investment Company, LLC
527 Madison Avenue
New York, New York 10022
(212) 319-3400
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications on Behalf of Bidders)
Copy to:
Mark I. Fisher
Rosenman & Colin LLP
575 Madison Avenue
New York, New York 10022
(212) 940-8877
------------------------------------
CALCULATION OF FILING FEE
================================================================================
Transaction Valuation*: $2,832,597 Amount of Filing Fee: $566.52
================================================================================
* For purposes of calculating the fee only. This amount assumes the purchase of
25,034 units of limited partnership interest ("Units") of the subject
partnership for $113.15 per Unit. The amount of the filing fee, calculated in
accordance with Section 14(g)(3) and Rule 0-11(d) under the Securities Exchange
Act of 1934, as amended, equals 1/50th of one percent of the aggregate of the
cash offered by the bidders.
<PAGE>
(cover page 2 of 2)
|x| Check box if any part of the fee is offset as provided by Rule 0-11(a)(2)
and identify the filing with which the offsetting fee was previously paid.
Identify the previous filing by registration statement number, or the form or
schedule and the date of its filing.
Amount Previously Paid: $566.52
Form or Registration No.: 14D-1
Filing Party: Bighorn Associates LLC
Date Filed: November 24, 1999
<PAGE>
CUSIP No. NONE 14D-1/A Page 3
================================================================================
1. Name of Reporting Persons; I.R.S. Identification Nos. of Above Persons
Millennium Funding IV LLC
11-3516771
- --------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group
(a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3. SEC Use Only
- --------------------------------------------------------------------------------
4 Sources of Funds
AF
- --------------------------------------------------------------------------------
5. Check if Disclosure of Legal Proceedings is Required Pursuant
to Items 2(e) or 2(f) |_|
- --------------------------------------------------------------------------------
6. Citizenship or Place of Organization
Delaware
- --------------------------------------------------------------------------------
7. Aggregate Amount Beneficially Owned by Each Reporting Person
None
- --------------------------------------------------------------------------------
8. Check if the Aggregate Amount in Row 7 Excludes Certain Shares |_|
- --------------------------------------------------------------------------------
9. Percent of Class Represented by Amount in Row 7
0
- --------------------------------------------------------------------------------
10. Type of Reporting Person
OO
================================================================================
<PAGE>
CUSIP No. NONE 14D-1 Page 4
================================================================================
1. Name of Reporting Persons; I.R.S. Identification Nos. of Above Persons
Presidio Capital Investment Company, LLC
06-1509220
- --------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group
(a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3. SEC Use Only
- --------------------------------------------------------------------------------
4 Sources of Funds
N/A
- --------------------------------------------------------------------------------
5. Check if Disclosure of Legal Proceedings is Required Pursuant
to Items 2(e) or 2(f) |_|
- --------------------------------------------------------------------------------
6. Citizenship or Place of Organization
Delaware
- --------------------------------------------------------------------------------
7. Aggregate Amount Beneficially Owned by Each Reporting Person
80,079*
- --------------------------------------------------------------------------------
8. Check if the Aggregate Amount in Row 7 Excludes Certain Shares |_|
- --------------------------------------------------------------------------------
9. Percent of Class Represented by Amount in Row 7
21.54%
- --------------------------------------------------------------------------------
10. Type of Reporting Person
OO
================================================================================
* 59 Units are owned by Millennium Funding Corp., 67,072 Units are owned by
Millennium Funding IV Corp. and 5,470 Units are owned by Millennium
Funding I LLC. In addition, Presidio Capital Corp. has the right to
acquire an additional 7,478 Units. All such entities are directly or
indirectly 100% owned by Presidio Capital Investment Company, LLC
<PAGE>
SCHEDULE 14D-1
This Amendment No. 1 amends the Tender Offer Statement on Schedule 14D-1
(the "Statement") filed with the Securities and Exchange Commission on November
24, 1999, by Millennium Funding IV LLC, a Delaware limited liability company
(the "Purchaser"), and Presidio Capital Investment Company, LLC, relating to the
tender offer by the Purchaser to purchase up to 25,034 outstanding units of
limited partnership interest ("Units") of High Equity Partners L.P. - Series 88
(the "Partnership"), at a purchase price of $113.15 per Unit, net to the seller
in cash, upon the terms and subject to the conditions set forth in the Offer to
Purchase dated November 24, 1999 (the "Offer to Purchase") and the related
Letter of Transmittal (which, together with any supplements or amendments,
collectively constitute the "Offer").
Item 10. ADDITIONAL INFORMATION.
Item 10(f) is hereby supplemented as follows:
The information set forth in the press release attached hereto as Exhibit
(a)(4) and the letter to limited partners attached hereto as Exhibit
(a)(5) is incorporated by reference herein.
ITEM 11. MATERIALS TO BE FILED AS EXHIBITS.
Item 11 is hereby supplemented by adding the following, a copy of which is
attached hereto as Exhibit:
(a)(4) Press Release dated December 21, 1999
(a)(5) Letter to Limited Partners dated December 22, 1999
<PAGE>
SIGNATURE
After due 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.
MILLENNIUM FUNDING IV LLC
By: Presidio Capital Investment
Company, LLC, member
By /s/ David G. King, Jr.
--------------------------
David G. King, Jr.
President
PRESIDIO CAPITAL INVESTMENT COMPANY, LLC
By /s/ David G. King, Jr.
-------------------------
David G. King, Jr.
President
Dated: December 22, 1999
6
Exhibit (a)(4)
December 21, 1999
New York, New York
FOR IMMEDIATE RELEASE ....
Millennium Funding IV LLC has extended the expiration date of its
offer to purchase units of limited partnership interest in High Equity Partners
L.P. - Series 88 until 12:00 Midnight, New York City time, on January 5, 2000.
Approximately 11,808 Units had been validly tendered pursuant to the offer as of
the close of business on December 20, 1999.
For additional information, contact Georgeson Shareholder
Communications Inc., the Information Agent for the offer, at (800) 223-2064.
Exhibit (a)(5)
Millennium Funding IV LLC
c/o Georgeson Shareholder Communications Inc.
17 State Street
New York, New York 10004
December 22, 1999
Re: Offer to Purchase Units of Limited Partnership Interest in High Equity
Partners L.P. - Series 88
Dear Limited Partners:
We have extended the expiration date of our offer to purchase units of limited
partnership interest in High Equity Partners L.P. - Series 88 until 12:00
Midnight, New York City time, on January 5, 2000. Accordingly, if you sell us
your units pursuant to the offer, the sale will be treated as a year 2000
transaction.
For additional information, contact Georgeson Shareholder Communications Inc.,
the Information Agent for the offer, at (800) 223-2064.
Sincerely,
Millennium Funding IV LLC
