<PAGE> 1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D/A
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
Builders Warehouse Association, Inc.
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
119916401
-----------------------------------------
(CUSIP Number)
William Shimanek, 440 S. LaSalle Street, Suite 1900, Chicago, Illinois 60605,
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(Name, Address and Telephone Number of Person Authorized to Receive Notices
(312) 362-4774
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and Communications)
September 3, 1996
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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. / /
Check the following box if a fee is being paid with the statement. / /
(A fee is not required only if the reporting person: (1) has a previous
statement on file reporting beneficial ownership of more than five percent of
the class of securities described in Item 1; and (2) has filed no amendment
subsequent thereto reporting beneficial ownership of five percent or less of
such class.) (See Rule 13d-7.)
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 shall 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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SCHEDULE 13D/A
CUSIP NO. 119916401 PAGE 2 OF 6 PAGES
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================================================================================
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Eligrant, Inc.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
WC
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5 CHECK BOX 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
IL
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NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 264,456
OWNED BY ---------------------------------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING
PERSON WITH 0
---------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
264,456
---------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
264,456
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) / /
EXCLUDES CERTAIN SHARES*
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.64%
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14 TYPE OF REPORTING PERSON*
CO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 3
SCHEDULE 13D/A
CUSIP NO. 119916401 PAGE 3 OF 6 PAGES
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Daniel Asher
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) / /
(b) / /
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
WC (see item 3)
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5 CHECK BOX
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
USA
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NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 264,456
OWNED BY ---------------------------------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING
PERSON WITH 0
---------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
264,456
---------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
264,456
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) / /
EXCLUDES CERTAIN SHARES*
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.64%
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14 TYPE OF REPORTING PERSON*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE> 4
ITEM 1. SECURITY AND ISSUER
This Schedule 13D/A relates to the common stock (the "Common Stock") of
Builders Warehouse Association, Inc. (the "Issuer"). The Issuer's principal
executive offices are located at 2800 28th Street, Suite 100, Santa Monica,
California 90405.
ITEM 3. SOURCE AND AMOUNT OF FUNDS
From August 30, 1996 through September 6, 1996, Eligrant, Inc.
("Eligrant") acquired 41,000 shares of the Common Stock of the Issuer in a
series of transactions. The source of capital for all acquisitions of the
Issuer's Common Stock was Eligrant's working capital. The price for such
shares ranged between $9 1/2 and $10 7/16. On September 6, 1996, Eligrant
acquired 22,315 shares of Common Stock of the Issuer through a privately
negotiated transaction with an entity in which Mr. Asher has an ownership
interest, at the prevailing market price of $9 3/4 for an aggregate price of
$217,571.25.
For purposes of this report on Schedule 13D/A only, all of the shares of
the Issuer's Common Stock acquired by Eligrant (264,456 shares of which are
owned by Eligrant as of September 6, 1996) are attributed to Mr. Asher. On
September 6, 1996, Eligrant acquired 22,315 shares from an entity in which Mr.
Asher has an ownership interest. The entity had acquired the shares on August
30, 1996 through conversion of 200,000 convertible debentures at an effective
conversion price of $8.96; the source of capital for this acquisition was the
entity's working capital.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
(a) and (b): Set forth in the table below are the number and percentage
of Common Stock of the Issuer beneficially owned, as well as the nature of the
ownership, for each of Eligrant and Mr. Asher (collectively, the "Reporting
Persons") as of the date hereof:
<TABLE>
<CAPTION>
Number of Shares Number of Shares Number of Shares Number of Shares
Beneficially Owned Beneficially Owned Beneficially Owned Beneficially Owned Aggregate Number of
With Sole Voting With Shared Voting with Sole with Shared Shares Beneficially
Name Power Power Dispositive Power Dispositive Power Owned
- -------------- -------------------- -------------------- -------------------- -------------------- --------------------
<S> <C> <C> <C> <C> <C>
Eligrant, Inc. 264,456 0 264,456 0 264,456
Daniel Asher 264,456 0 264,456 0 264,456
<CAPTION>
Percentage of
Shares Beneficially
Name Owned
- -------------- --------------------
<S> <C>
Eligrant, Inc. 6.64%
Daniel Asher 6.64%
</TABLE>
(c): All transactions in shares of Common Stock effected by the Reporting
Persons during the 60 days preceding the Event Date reported on page 1 not
previously reported in a Report on Schedule 13D, and all transactions in shares
of Common Stock effected by the Reporting Persons since that date are set forth
below. Unless otherwise noted, all such shares were acquired through open
market transactions.
A. Transactions of Eligrant, Inc.
<TABLE>
<CAPTION>
Trade Date Number of Shares Price Per Share
- ---------- ---------------- ---------------
<S> <C> <C>
8/30/96 4000 $ 10
8/30/96 2000 $ 10
8/30/96 2000 $ 10
8/30/96 1000 $ 10 1/4
9/3/96 1500 $ 9 1/2
9/3/96 2500 $ 9 3/4
9/3/96 2000 $ 9 3/4
9/3/96 1000 $ 9 3/4
9/3/96 1000 $ 9 3/4
9/3/96 1000 $ 9 3/4
9/3/96 1000 $ 9 3/4
9/5/96 1000 $ 9 5/8
9/5/96 1000 $ 9 3/4
9/5/96 1000 $ 9 3/4
</TABLE>
<PAGE> 5
<TABLE>
<CAPTION>
Trade Date Number of Shares Price Per Share
- ---------- ---------------- ---------------
<S> <C> <C>
9/5/96 1000 $ 9 7/8
9/5/96 2000 $ 9 3/4
9/5/96 1000 $ 9 7/8
9/5/96 1000 $ 9 7/8
9/5/96 1000 $ 10
9/5/96 1000 $ 10 1/8
9/5/96 1000 $ 10 1/4
9/5/96 1000 $ 10 3/8
9/5/96 800 $ 10 3/8
9/5/96 200 $ 10 7/16
9/5/96 1000 $ 10 1/2
9/5/96 1000 $ 10 1/2
9/5/96 1000 $ 10 5/8
9/5/96 1000 $ 10 5/8
9/6/96 2000 $ 9 3/8
9/6/96 3000 $ 9 1/2
*9/6/96 22315 $ 9 3/4
</TABLE>
B. Transactions of Mr. Asher
Mr. Asher has not acquired or sold any shares of Common Stock of the
Issuer in his individual capacity. However, Mr. Asher is the sole director and
sole shareholder of Eligrant. Therefore, for purposes of reporting on this
Schedule 13D/A, the shares of Common Stock owned by Eligrant are attributed to
Mr. Asher. Accordingly, the information set forth above for Eligrant is
applicable for Mr. Asher as well. For all other purposes, Mr. Asher disclaims
the beneficial ownership of the 264,456 shares of common stock of the Issuer
owned by Eligrant.
On August 30, 1996, an entity in which Mr. Asher has an ownership interest
converted 200,000 convertible debentures into 22,315 shares of the Issuer's
Common Stock at an effective price of $8.96 per share. On September 6, the
affiliate sold the shares to Eligrant at the prevailing market price of 9 3/4,
in a privately negotiated transaction.
(d): Not applicable.
(e): Not applicable.
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*These shares were acquired from an entity in which Mr. Asher has an ownership
interest through a privately negotiated transaction at the prevailing market
price.
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SIGNATURES
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.
Dated: September 10, 1996 ELIGRANT, INC.
By: /s/ William Shimanek
-------------------------
President
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.
Dated: September 10, 1996 DANIEL ASHER
/s/ Daniel Asher
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