UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
SCHEDULE 13D
(Amendment No. 9)
Under the Securities Exchange Act of 1934
Mercom, Inc.
(Name of Issuer)
Common Stock, Par Value $1.00 Per Share
(Title of Class of Securities)
589935D-10-9
(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
(Name, Address and Telephone Number of Persons Authorized
to Receive Notices and Communications)
August 21, 1998
(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-I(b)(3) or (4), check the following box |_|.
Check the following box if a fee is being paid with the 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. 9 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
- --------------------------------------------------------------------------------
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 (e)|_|
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6
CITIZENSHIP OR PLACE OR ORGANIZATION
Delaware
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7
SOLE VOTING POWER
NUMBER OF 313,419
SHARES
BENEFICIALLY --------------------------------------------------
OWNED BY
EACH 8
REPORTING SHARED VOTING POWER
PERSON
WITH None
--------------------------------------------------
9
SOLE DISPOSITIVE POWER
313,419
--------------------------------------------------
10
SHARED DISPOSITIVE POWER
None
- --------------------------------------------------------------------------------
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
313,419 shares
- --------------------------------------------------------------------------------
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.54%
- --------------------------------------------------------------------------------
14
TYPE OF REPORTING PERSON
PN
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Page 2 of 3 Pages
<PAGE>
AMENDMENT NO. 9 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 August 5, 1998, the Partnership owned a total of 370,919 shares of
the common stock of the Issuer, and such shares represented approximately 7.75%
of the 4,787,060 shares of the common stock of the Issuer reported as
outstanding.
On and after August 5th through August 21, 1998, the Partnership sold the
following shares:
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Date of Sale Number of Shares Sold Sale Price
- --------------------------------------------------------------------------------
August 5, 1998 2,500 $ 26,704.10
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August 12, 1998 5,000 58,328.04
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August 13, 1998 5,568 63,578.86
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August 13, 1998 5,000 57,093.08
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August 13, 1998 3,000 34,255.85
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August 13, 1998 6,432 73,444.54
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August 18, 1998 10,000 114,176.26
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August 21, 1998 20,000 228,372.33
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TOTALS 57,500 $655,952.96
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As a result of such sales, the Partnership beneficially owns 313,419 shares
(representing 6.54%) 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, I
certify that the information set forth in this amendment is true, complete and
correct.
August 27, 1998
(Date)
LAPPIN CAPITAL MANAGEMENT, L.P.
By: /S/ Lawrence B. Lappin
------------------------------
(Signature)
Lawrence B. Lappin, General Partner
(Name) (Title)
Page 3 of 3 Pages
