UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
(Amendment No.8)
Mercom, Inc.
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(Name of Issuer)
Common Stock, Par Value $1.00 Per Share
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(Title of Class of Securities)
589935D-10-9
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(CUSIP Number)
Lawrence B. Lappin, Lappin Capital Management, Inc.
767 Third Avenue, 16th Floor, New York, New York 10017, (212) 755-5694
and
Jesse R. Meer, Esq.
Berlack, Israels & Liberman, LLP, 120 West 45th Street,
New York, N.Y. 10036, (212) 704-0100
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
July 17, 1998
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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 the 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 this statement [X]. (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.)
Page 1 of 3 Pages
<PAGE>
AMENDMENT NO. 8 TO SCHEDULE 13D
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CUSIP No. 589935D-10-9 Page 2 of 3 Pages
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1 NAME OF REPORTING PERSON: LAPPIN CAPITAL MANAGEMENT, L.P.
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON: 13-3641120
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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
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
Delaware
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NUMBER OF 7 SOLE VOTING POWER
SHARES 371,387
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH None
REPORTING --------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 371,387
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10 SHARED DISPOSITIVE POWER
None
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
371,387 shares
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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)
7.76
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14 TYPE OF REPORTING PERSON
PN
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Page 2 of 3 Pages
<PAGE>
AMENDMENT NO. 8 TO SCHEDULE 13D
The purpose of this Amendment is to set forth a material change in Item 5
of the Statement on Schedule 13D as previously amended. No other changes in the
Statement are being made at this time, and so none of the other items of
Schedule 13D as heretofore amended is restated herein.
Item 5. Interest in Securities of the Issuer.
Prior to June 26, 1998, the Partnership and Mr. Lappin (as custodian for
his minor children) owned a total of 478,419 shares of the common stock of the
Issuer, and such shares represented approximately 9.994% of the 4,787,060 shares
of the common stock of the Issuer reported as outstanding.
On and after June 26 through July 17, 1998, the Partnership sold the
following shares:
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Date of Sale Number of Shares Sold Sale Price
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June 26, 1998 15,000 $162,199.56
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June 30, 1998 9,564 103,880.35
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July 6, 1998 18,500 198,192.08
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July 16, 1998 38,500 412,753.52
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July 17, 1998 25,000 266,721.04
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TOTALS 106,564 1,143,746.55
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In addition, on June 30, 1998, Mr. Lappin sold 468 shares (as custodian for
his minor children) for $5,118.75.
As a result of such sales, the Partnership beneficially owns 371,387 shares
(representing 7.76%) of the common stock of the Issuer currently outstanding. As
previously reported, Lappin Capital Management. Inc. ("LCMI') and Mr. Lappin,
the general partners of the Partnership, have the sole power to vote, or to
direct the vote, or to direct the sale or other disposition of the shares owned
by the Partnership. LCMI and Mr. Lappin, as the general partners of the
Partnership, have the sole power to receive or to direct the receipt of the
proceeds from the sale of such shares, or any dividends paid with respect to
such shares.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, we
certify that the information set forth in this amendment is true, complete and
correct.
July 24, 1998
(Date)
LAPPIN CAPITAL MANAGEMENT. L.P.
By: /S/ Lawrence B. Lappin
--------------------------
(Signature)
Lawrence B. Lappin, General Partner
(Name) (Title)
/S/ Lawrence B. Lappin
-------------------------------
Lawrence B. Lappin, as Custodian
for his minor children
Page 3 of 3 Pages
