<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
Medamicus, Inc.
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
584027-10-6
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(CUSIP Number)
Robert T. Montague
Robins, Kaplan, Miller & Ciresi
800 LaSalle Avenue, Suite 2800
Minneapolis, MN 55408
612-349-8500
(Name, Address and Telephone Number of Person Authorized
to receive Notices and Communications)
December 20, 1999
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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 Rule 13d-1(b)(3) or (4), check the following box [ ].
Note: Six copies of this statement, including all exhibits, should be filed with
the Commission. See Rule 13d-1(a) for other parties to whom copies are to be
sent.
*The remainder of this cover page should 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).
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Page 1 of ___ Pages
CUSIP No. 584027-10-6
(1) Names of Reporting Persons S.S. or I.R.S. Identification Nos. of
Above Persons
Pyramid Trading Limited Partnership 36-3723624
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(2) Check the Appropriate Box if a Member of a Group
(a) [ x ]
(b) [ ]
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(3) SEC Use Only
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(4) Source of Funds
WC
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(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e) [ ]
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(6) Citizenship or Place of Organization
Illinois
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Number of (7) Sole Voting Power 0 shares
Shares Bene- --------------------------------------------------------------
ficially (8) Shared Voting Power 187,400 shares
Owned by --------------------------------------------------------------
Each Report- (9) Sole Dispositive Power 0 shares
ing Person --------------------------------------------------------------
With (10) Shared Dispositive Power 187,400 shares
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(11) Aggregate Amount Beneficially Owned by Each Reporting Person
187,400 shares
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(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares
[ ]
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(13) Percent of Class Represented by Amount in Row (11)
4.5 %
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(14) Type of Reporting Person (See Instructions)
BD, PN, IV
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Page 1 of ___ Pages
CUSIP No. 54027-10-6
(1) Names of Reporting Persons S.S. or I.R.S. Identification Nos. of
Above Persons
Oakmont Investments, LLC 36-3996171
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(2) Check the Appropriate Box if a Member of a Group
(a) [ ]
(b) [ x ]
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(3) SEC Use Only
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(4) Source of Funds
N/A
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(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e) [ ]
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(6) Citizenship or Place of Organization
Illinois
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Number of (7) Sole Voting Power 0 shares
Shares Bene- --------------------------------------------------------------
ficially (8) Shared Voting Power 187,400 shares
Owned by --------------------------------------------------------------
Each Report- (9) Sole Dispositive Power 0 shares
ing Person --------------------------------------------------------------
With (10) Shared Dispositive Power 187,400 shares
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(11) Aggregate Amount Beneficially Owned by Each Reporting Person
187,400 shares
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(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares
[ ]
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(13) Percent of Class Represented by Amount in Row (11)
4.5 %
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(14) Type of Reporting Person (See Instructions)
CO, IV
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Page 1 of ___ Pages
CUSIP No. 584027-10-6
(1) Names of Reporting Persons S.S. or I.R.S. Identification Nos. of
Above Persons
Daniel Asher ###-##-####
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(2) Check the Appropriate Box if a Member of a Group
(a) [ x ]
(b) [ ]
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(3) SEC Use Only
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(4) Source of Funds
N/A
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(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e) [ ]
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(6) Citizenship or Place of Organization
United States
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Number of (7) Sole Voting Power 0 shares
Shares Bene- --------------------------------------------------------------
ficially (8) Shared Voting Power 187,400 shares
Owned by --------------------------------------------------------------
Each Report- (9) Sole Dispositive Power 0 shares
ing Person --------------------------------------------------------------
With (10) Shared Dispositive Power 187,400 shares
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(11) Aggregate Amount Beneficially Owned by Each Reporting Person
187,400 shares
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(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares
[ ]
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(13) Percent of Class Represented by Amount in Row (11)
4.5 %
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(14) Type of Reporting Person (See Instructions)
IN
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<PAGE> 5
Page 1 of ___ Pages
CUSIP No. 584027-10-6
(1) Names of Reporting Persons S.S. or I.R.S. Identification Nos. of
Above Persons
Gary Kohler ###-##-####
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(2) Check the Appropriate Box if a Member of a Group
(a) [ x ]
(b) [ ]
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(3) SEC Use Only
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(4) Source of Funds
PF
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(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e) [ ]
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(6) Citizenship or Place of Organization
United States
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Number of (7) Sole Voting Power 80,500 shares
Shares Bene- --------------------------------------------------------------
ficially (8) Shared Voting Power 0 shares
Owned by --------------------------------------------------------------
Each Report- (9) Sole Dispositive Power 80,500 shares
ing Person --------------------------------------------------------------
With (10) Shared Dispositive Power 0 shares
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(11) Aggregate Amount Beneficially Owned by Each Reporting Person
80,500 shares
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(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares
[ ]
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(13) Percent of Class Represented by Amount in Row (11)
1.9 %
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(14) Type of Reporting Person (See Instructions)
IN
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<PAGE> 6
Page 1 of ___ Pages
CUSIP No. 584027-10-6
(1) Names of Reporting Persons S.S. or I.R.S. Identification Nos. of
Above Persons
Andrew Redleaf ###-##-####
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(2) Check the Appropriate Box if a Member of a Group
(a) [ x ]
(b) [ ]
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(3) SEC Use Only
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(4) Source of Funds
PF
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(5) Check if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(d) or 2(e) [ ]
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(6) Citizenship or Place of Organization
United States
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Number of (7) Sole Voting Power 79,713 shares
Shares Bene- --------------------------------------------------------------
ficially (8) Shared Voting Power 0 shares
Owned by --------------------------------------------------------------
Each Report- (9) Sole Dispositive Power 79,713 shares
ing Person --------------------------------------------------------------
With (10) Shared Dispositive Power 0 shares
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(11) Aggregate Amount Beneficially Owned by Each Reporting Person
79,713 shares
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(12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares
[ ]
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(13) Percent of Class Represented by Amount in Row (11)
1.9 %
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(14) Type of Reporting Person (See Instructions)
IN
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<PAGE> 7
Page 2 of ___ pages
ITEM 1. SECURITY AND ISSUER
The class of equity securities to which this Statement on Schedule 13D
relates is the common stock, par value $.01 per share ( the "Common Stock"), of
Medamicus, Inc., a Minnesota corporation (the "Company"). The principal
executive offices of the Company are located at 15301 Highway 55 West, Plymouth,
MN 55447.
ITEM 2. IDENTITY AND BACKGROUND
This statement is being filed by Pyramid Trading Limited Partnership
("PT"), Oakmont Investments, LLC, the general partner of PT ("OI"), Daniel
Asher, as Manager of OI and individually ("DA"), Gary Kohler ("GK") and Andrew
Redleaf ("AR"). PT, OI, DA, GK and AR are collectively referred to herein as the
"Reporting Persons."
The following information relates to PT:
(i) Name: Pyramid Trading Limited Partnership
(ii) State of Organization: Illinois
(iii) Principal Business: Broker-Dealer registered on CBOE
(iv) Principal Business and Office Address: 440 S. Lasalle Street,
Chicago, Illinois 60605
(v) Information required by clauses (d) and (e) of Item 2 of
Schedule 13D: None
The following information relates to OI:
(i) Name: Oakmont Investments LLC
(ii) State of Organization: Illinois
(iii) Principal Business: Investments
(iv) Principal Business and Office Address: 440 S. LaSalle Street,
Chicago, Illinois 60605
(v) Information required by clauses (d) and (e) of Item 2 of
Schedule 13D: None
The following information relates to DA:
(a) Name: Daniel Asher
(b) Business Address: 440 S. LaSalle Street, Suite 700 Chicago,
IL 60605
(c) Principal Occupation: Private Investor, Manager of Oakmont
Investments, LLC
(d) Criminal Proceedings: None
(e) Civil Proceedings: None
(f) Citizenship: United States
The following information relates to GK:
(a) Name: Gary Kohler
(b) Business Address: 3033 Excelsior Boulevard, Minneapolis, MN
55416
(c) Principal Occupation: Director of Research, Whitebox Advisors,
an investment fund management company located at 3033
Excelsior Blvd., Minneapolis, MN 55416
(d) Criminal Proceedings: None
(e) Civil Proceedings: None
(f) Citizenship: United States
The following information relates to AR:
(a) Name: Andrew Redleaf
(b) Business Address: 3033 Excelsior Boulevard, Minneapolis, MN
55416
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(c) Principal Occupation: President, Whitebox Advisors, an
investment fund management company located at 3033 Excelsior
Blvd., Minneapolis, MN 55416
(d) Criminal Proceedings: None
(e) Civil Proceedings: None
(f) Citizenship: United States
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
From 12/7/99 to 12/13/99, PT purchased an aggregate of 187,400
shares of Common Stock for an aggregate consideration of $284,940 (not including
brokerage commissions). PT acquired such shares using working capital.
From 11/6/98 to 12/2/99, GK purchased an aggregate of 80,500
shares of Common Stock for an aggregate consideration of $94,764 (not including
brokerage commissions). GK acquired such shares using personal funds.
From 7/14/99 to 12/7/99, AR purchased an aggregate of 79,713
shares of Common Stock for an aggregate consideration of $129,115 (not including
brokerage commissions). AR acquired such shares using personal funds.
<PAGE> 9
Page ____ of ______ pages
ITEM 4. PURPOSE OF TRANSACTION
The Reporting Persons have acquired the Common Stock described
herein in order to obtain an equity position in the Company. The Reporting
Persons intend to closely monitor the performance of the Company and its
management, and to evaluate their position in order to determine the
advisability of further action with respect to the Company. GK and AR met with
the Chief Executive and Chairman of the Company on December 21, 1999 to express
their view that the Company's value in the public market is substantially below
the combined private company valuations of its two operating business, and that
the Company should explore restructuring options to address shareholder value.
The Reporting Persons expressed their opinion to management that continuing to
invest the excess cash flow of their Vascular Delivery Systems business to fund
the ongoing losses of its LuMax Fiber Optic business was not in the best
interest of shareholders.
The Reporting Persons will continually evaluate their position to
determine what, if any, actions to take with respect to the Company and their
ownership position. The Reporting Persons may explore the feasibility of, and
strategies for, seeking control and may explore, among other possibilities, (i)
making a proposal to the Company for a merger or business combination; (ii)
nominating individuals selected by the Reporting Persons as candidates for the
Board of Directors of the Company and soliciting proxies from the Company's
shareholders to vote for such nominees at the next meeting of the Company's
shareholders, or otherwise taking action to reconstitute the Board of Directors;
(iii) acquiring additional shares of Common stock (subject to the availability
of Common Stock at prices deemed favorable) from time to time in the open
market, in privately negotiated transactions or otherwise; or (iv) entering into
arrangements with third parties who may be interested in joining with the
Reporting Persons to acquire control of the Company, which arrangements may
contemplate the sale or disposition of portions of the Company's assets to such
third parties after control is obtained.
The Reporting Persons expect to explore these and, potentially, other
alternatives designed to enhance the value of the Common Stock for all of the
shareholders of the Company.
Depending upon the course of action that the Reporting Persons pursue,
the Reporting Persons may attempt to dispose of the Common Stock in the open
market, in privately negotiated transactions or otherwise.
Although the foregoing represents the range of activities presently
contemplated by the Reporting Persons with respect to the Company, it should be
noted that the possible activities of the Reporting Persons are subject to
change at any time and there is no assurance that the Reporting Persons will
actually purchase additional Common Stock or seek to influence or obtain control
of the Company. Except as set forth above, the Reporting Persons have no present
plans or intentions which would result in or relate to any of the transactions
described in Item 4 of Schedule 13D.
<PAGE> 10
Page ____ of _____ pages
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
(a) As of December 22, 199, the Reporting Persons beneficially owned
the amounts of Common Stock respectively set forth below. The percentage set
forth below represents the percentage of the outstanding shares of Common Stock
based on 4,112,274 shares outstanding as of September 30, 1998 as set forth in
the Company's Form 10Q-SB for the quarter ended September 30, 1999.
<TABLE>
<CAPTION>
Reporting Shares of Percent of
Person Common Stock Outstanding Common Stock
--------- ------------ ------------------------
<S> <C> <C>
PT, OI, DA 187,400 4.5%
GK 80,500 1.9
AR 79,713 1.9
</TABLE>
As of December 22, 1999, the Reporting Persons beneficially owned an
aggregate of 347,613 shares of Common Stock.
(b) The information set forth in Items 7 through 11 of the cover pages
hereto is incorporated herein by reference.
(c) The information concerning transactions in the Common Stock
effected by the Reporting Persons during the past sixty (60) days is set forth
in Appendix A hereto and incorporated herein by reference. All of transactions
were open market transactions.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIP
WITH RESPECT TO THE SECURITIES OF THE ISSUER
NONE
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
1. Agreement dated as of December 22, 1999 by and among the
signatories of this Statement on Schedule 13-D with respect to
its filing.
<PAGE> 11
Page ____ of ____ pages
SIGNATURE
After reasonable inquiry and to the best of its knowledge and belief,
the undersigned certifies that the information set forth in this statement is
true, complete and correct.
Date: December 22, 1999 PYRAMID TRADING LIMITED PARTNERSHIP
BY OAKMONT INVESTMENTS, LLC ITS GENERAL PARTNER
BY /S/ Daniel Asher
------------------------------------------
Daniel Asher,
Manager, Oakmont Investments, LLC
OAKMONT INVESTMENTS, LLC
BY /S/ Daniel Asher
------------------------------------------
Daniel Asher, Manager
/s/ Daniel Asher
-----------------------------------------------
DANIEL ASHER
/s/ Gary Kohler
-----------------------------------------------
GARY KOHLER
/s/ Andrew Redleaf
-----------------------------------------------
ANDREW REDLEAF
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Page _____ of _____ pages
APPENDIX A
Transactions By the Reporting Persons in
Medamicus, Inc. Common Stock During the Past 60 Days
PYRAMID TRADING LIMITED PARTNERSHIP
<TABLE>
<CAPTION>
Date # of Shares Bought Price Per Share ($) Total Cost ($)*
- ---- ------------------ ------------------- ---------------
<S> <C> <C> <C>
12/07/99 79,000 1.63 129,115
12/09/99 10,000 1.44 14,375
12/10/99 3,000 1.44 4,313
12/13/99 95,400 1.44 137,137
</TABLE>
GARY KOHLER
<TABLE>
<CAPTION>
Date # of Shares Bought & Sold** Price Per Share ($) Total Cost ($)*
- ---- ------------------------- ------------------- ---------------
<S> <C> <C> <C>
11/24/99 500(s) 1.66 --
11/29/99 1,000(s) 1.69 --
12/2/99 2,000 1.45 2,900
</TABLE>
ANDREW REDLEAF
<TABLE>
<CAPTION>
Date # of Shares Bought & Sold Price Per Share ($) Total Cost ($)*
- ---- ------------------------- ------------------- ---------------
<S> <C> <C> <C>
10/22/99 3,000 1.75 5,282
10/25/99 5,900 1.75 10,337
10/29/99 3,687 1.75 6,464
11/03/99 4,300 1.75 7,537
11/08/99 7,775 1.75 13,618
11/15/99 3,500 1.75 6,137
11/16/99 2,700 1.75 4,737
11/22/99 3,050 1.75 5,350
</TABLE>
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<TABLE>
<S> <C> <C> <C>
11/23/99 4,800 175 8,412
11/23/99 4,400 1.72 7,580
11/29/99 2,678 1.72 4,618
11/30/99 5,000 1.63 8,137
12/02/9 3,400 1.69 5,749
12/03/99 55,815 1.46 81,446
12/06/99 40,000 1.45 58,112
12/07/99 79,000(s) 1.63 --
</TABLE>
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*Commissions not included.
**(s) indicates shares sold.
EXHIBIT INDEX
EXHIBIT NO. DOCUMENT
1 Agreement, dated as of December 22, 1999, by and among the
signatories of this Statement with respect to its filing.
<PAGE> 1
EXHIBIT 1
AGREEMENT
This will confirm the agreement by and among all the undersigned that
the Schedule 13D filed on or about this date with respect to the beneficial
ownership of the undersigned of shares of Common Stock of Medamicus, Inc. is
being filed on behalf of each of the entities names below. This agreement may be
executed in two or more counterparts, each of which shall be deemed an original,
but all of which together shall constitute one and the same instrument.
Date: December 22, 1999 PYRAMID TRADING LIMITED PARTNERSHIP
BY OAKMONT INVESTMENTS, LLC ITS GENERAL PARTNER
BY /S/ Daniel Asher
-----------------------------------------
Daniel Asher,
Manager, Oakmont Investments, LLC
OAKMONT INVESTMENTS, LLC
BY /S/ Daniel Asher
-----------------------------------------
Daniel Asher, Manager
/s/ Gary Kohler
----------------------------------------------
GARY KOHLER
/s/ Andrew Redleaf
----------------------------------------------
ANDREW REDLEAF
