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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 4)
Resource America, Inc.
(Name of Issuer)
Common Stock, $.01 par value
(Title of Class of Securities)
761195205
(CUSIP Number)
Orin S. Kramer
Kramer Spellman, L.P.
2050 Center Avenue, Suite 300
Fort Lee, New Jersey
07024
(201) 592-1234
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
July 28, 1997
(Date of Event which Requires Filing 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 [ ].
Page 1 of 11
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SCHEDULE 13D
CUSIP No. 761195205
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Kramer Spellman, L.P.
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
Not Applicable a[ ]
b[ ]
3. SEC USE ONLY
4. SOURCE OF FUNDS*
OO
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
7. SOLE VOTING POWER
None
8. SHARED VOTING POWER
SHARES
BENEFICIALLY 508,500
OWNED BY
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON None
WITH
10. SHARED DISPOSITIVE POWER
508,500
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
508,500
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
11.21%
14. TYPE OF REPORTING PERSON*
PN
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SCHEDULE 13D
CUSIP No. 761195205
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Orin S. Kramer
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
Not Applicable a[ ]
b[ ]
3. SEC USE ONLY
4. SOURCE OF FUNDS*
OO
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
6. CITIZENSHIP OR PLACE OF ORGANIZATION
United States
7. SOLE VOTING POWER
1,800
8. SHARED VOTING POWER
SHARES
BENEFICIALLY 508,500
OWNED BY
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON 1,800
WITH
10. SHARED DISPOSITIVE POWER
508,500
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
510,300
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
11.25%
14. TYPE OF REPORTING PERSON*
IN
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SCHEDULE 13D
CUSIP No. 761195205
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Jay Spellman
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
Not Applicable a[ ]
b[ ]
3. SEC USE ONLY
4. SOURCE OF FUNDS*
OO
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
6. CITIZENSHIP OR PLACE OF ORGANIZATION
United States
7. SOLE VOTING POWER
None
8. SHARED VOTING POWER
SHARES
BENEFICIALLY 508,500
OWNED BY
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON None
WITH
10. SHARED DISPOSITIVE POWER
508,500
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
508,500
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
11.21%
14. TYPE OF REPORTING PERSON*
IN
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SCHEDULE 13D
CUSIP No. 761195205
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Boston Provident Partners, L.P.
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
Not Applicable a[ ]
b[ ]
3. SEC USE ONLY
4. SOURCE OF FUNDS*
OO
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
7. SOLE VOTING POWER
292,200
8. SHARED VOTING POWER
SHARES
BENEFICIALLY None
OWNED BY
REPORTING 9. SOLE DISPOSITIVE POWER
PERSON 292,200
WITH
10. SHARED DISPOSITIVE POWER
None
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
292,200
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.44%
14. TYPE OF REPORTING PERSON*
PN
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This statement amends and supplements the information set forth in the
Schedule 13D filed by the Reporting Persons (as defined therein) with the
Securities and Exchange Commission (the "Commission") on January 6, 1997 as
amended by Amendment No. 1 filed with the Commission on January 16, 1997, as
amended by Amendment No. 2 filed with the Commission on February 14, 1997, as
amended by Amendment No. 3 filed with the Commission on March 5, 1997 and
constitutes Amendment No. 4 to the Schedule 13D. Capitalized terms used herein
without definition shall have the meaning assigned to such terms in the Schedule
13D.
Item 3. Sources and Amounts of Funds or Other Consideration
The first sentence of Item 3 is revised and amended in its entirety as
set forth below:
The Partnerships and Managed Accounts expended an aggregate of
approximately $9,436,136 (including brokerage commissions, if any) to purchase
the 508,500 shares of Common Stock held by them. Mr. Kramer expended an
aggregate of approximately $43,371 to purchase the additional 1,800 shares of
Common Stock held by him and in trust for his minor children.
Item 5. Interest in Securities of the Issuer
Item 5 is revised and amended in its entirety to read as set forth
below:
(a)-(b) On the date of this Statement:
(i) Mr. Kramer has beneficial ownership for purposes
of Section 13(d) of the Securities Exchange Act of 1934 ("Beneficial Ownership")
of 508,500 shares of Common Stock by virtue of his position as one of the two
general partners of KS.
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Such shares represent 11.21% of the issued and outstanding Common Stock. Mr.
Kramer shares voting power and dispositive power over the Common Stock with Mr.
Spellman and KS. In addition, Mr. Kramer has Beneficial Ownership of 1,800
shares of Common Stock that are held in his name as well as in trust for his
minor children. Such shares represent less than an additional 1% of the issued
and outstanding Common Stock.
(ii) Mr. Spellman has Beneficial Ownership of 508,500
shares of Common Stock by virtue of his position as one of the two general
partners of KS. Such shares represent 11.21% of the issued and outstanding
Common Stock. Mr. Spellman shares voting power and dispositive power over the
Common Stock with Mr. Kramer and KS.
(iii) KS has Beneficial Ownership of 508,500 shares
of Common Stock by virtue of its position as general partner of, or
discretionary investment manager to, the Partnerships and Managed Accounts, as
the case the may be, holding such shares of Common Stock. Such shares represent
11.21% of the issued and outstanding Common Stock. KS shares voting power and
dispositive power over such shares with Mr. Kramer and Mr. Spellman.
(iv) Boston Provident Partners, L.P. has Beneficial
Ownership of 292,200 shares of Common Stock by virtue of its sole ownership of
such shares of Common Stock. Such shares represent 6.44% of the issued and
outstanding Common Stock. The percentages used herein are calculated based upon
the 3,553,380 shares of Common Stock stated to be issued and outstanding as
reflected in the Company's Form 10-Q for the
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fiscal quarter ended March 31, 1997 and the issuance of 983,150 shares of Common
Stock upon the exercise of warrants, which was reported by the Company on July
28, 1997.
(c) The trading dates, number of shares purchased or sold and
the average price per share (including commissions, if any) for all transactions
by the Reporting Persons for the past 60 days are set forth in Schedule I
hereto. All such transactions were over-the-counter and effected by Mr. Kramer
for himself and his minor children. The change in the Reporting Persons
ownership percentage primarily results from the issuance by the Company of
shares of Common Stock upon the exercise of warrants. The Reporting Persons have
not sold any shares of Common Stock during the past 60 days.
(d) No person other than each respective record owner referred
to herein of shares of Common Stock is known to have the right to receive or the
power to direct the receipt of dividends from or the proceeds of sale of shares
of Common Stock, except that the respective shareholders, partners or owners as
relevant, of the Partnerships and the Managed Accounts have the right to
participate in the receipt of dividends from or proceeds of the sale of, the
shares of Common Stock held for their respective accounts. Boston Provident
Partners, L.P. is known to have the right to receive or the power to direct the
receipt of dividends from or the proceeds of sale of shares of Common Stock.
(e) Not applicable.
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Item 7. Material to be Filed as Exhibits
Joint Filing Agreement among KS, Mr. Kramer, Mr. Spellman and
Boston Provident Partners, L.P. dated January 15, 1997 (filed as Exhibit 99 to
Amendment No. 1 and incorporated herein by reference).
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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.
July 29, 1997
KRAMER SPELLMAN L.P.
By: /s/ Orin S. Kramer
Name: Orin S. Kramer
Title: a General Partner
By: /s/ Jay Spellman
Name: Jay Spellman
Title: a General Partner
/s/ Orin S. Kramer
Orin S. Kramer
/s/ Jay Spellman
Jay Spellman
BOSTON PROVIDENT PARTNERS, L.P.
By: Kramer Spellman, L.P.
By: /s/ Orin S. Kramer
Name: Orin S. Kramer
Title: a General Partner
By: /s/ Jay Spellman
Name: Jay Spellman
Title: a General Partner
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Schedule I
Date Shares Purchased Price Per Share
6/11/97 1,000 $22.802
6/26/97 800 25.711
