UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
Xpedite Sytems, Inc.
(Name of Issuer)
Common Stock, $0.01 par value
(Title of Class of Securities)
CUSIP No. 983929100
(CUSIP Number)
Thomas F. Steyer
Farallon Capital Management, L.L.C.
One Maritime Plaza, Suite 1325
San Francisco, California
94111
(415)421-2132
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
February 27, 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-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 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 that Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
Page 1 of 34 Pages
SCHEDULE 13D
===============================
CUSIP No. 983929100
===============================
- ---------======================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Farallon Capital Partners, L.P.
- ---------======================================================================
2 Check the Appropriate Box if a Member of a Group*
(a) [ ]
(b) [ X ]
- ---------======================================================================
3 SEC Use Only
- ---------======================================================================
4 Source of Funds*
WC, 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
California
- ----------------------=========================================================
7 Sole Voting Power
-0-
------=========================================================
Number of 8 Shared Voting Power
Shares
Beneficially -0-
Owned By Each
Reporting
Person With
------=========================================================
9 Sole Dispositive Power
-0-
------=========================================================
10 Shared Dispositive Power
-0-
- ---------======================================================================
11 Aggregate Amount Beneficially Owned By Each Reporting Person
-0-
- ---------======================================================================
12 Check Box if the Aggregate Amount in Row (11)
Excludes Certain Shares*
[ ]
- ---------======================================================================
13 Percent of Class Represented by Amount in Row (11)
0.0%
- ---------======================================================================
14 Type of Reporting Person*
PN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 2 of 34 Pages
<PAGE>
SCHEDULE 13D
===============================
CUSIP No. 983929100
===============================
- ---------======================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Farallon Capital Institutional Partners, L.P.
- ---------======================================================================
2 Check the Appropriate Box if a Member of a Group*
(a) [ ]
(b) [ X ]
- ---------======================================================================
3 SEC Use Only
- ---------======================================================================
4 Source of Funds*
N/A
- ---------======================================================================
5 Check Box if Disclosure of Legal Proceedings is
Required Pursuant to Items 2(d) or 2(e)
[ ]
- ---------======================================================================
6 Citizenship or Place of Organization
California
- ----------------------=========================================================
7 Sole Voting Power
-0-
------=========================================================
Number of 8 Shared Voting Power
Shares
Beneficially -0-
Owned By Each
Reporting
Person With
------=========================================================
9 Sole Dispositive Power
-0-
------=========================================================
10 Shared Dispositive Power
-0-
- ---------======================================================================
11 Aggregate Amount Beneficially Owned By Each Reporting Person
-0-
- ---------======================================================================
12 Check Box if the Aggregate Amount in Row (11)
Excludes Certain Shares*
[ ]
- ---------======================================================================
13 Percent of Class Represented by Amount in Row (11)
0.0%
- ---------======================================================================
14 Type of Reporting Person*
PN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 3 of 34 Pages
<PAGE>
SCHEDULE 13D
===============================
CUSIP No. 983929100
===============================
- ---------======================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Farallon Capital Institutional Partners II, L.P.
- ---------======================================================================
2 Check the Appropriate Box if a Member of a Group*
(a) [ ]
(b) [ X ]
- ---------======================================================================
3 SEC Use Only
- ---------======================================================================
4 Source of Funds*
N/A
- ---------======================================================================
5 Check Box if Disclosure of Legal Proceedings is
Required Pursuant to Items 2(d) or 2(e)
[ ]
- ---------======================================================================
6 Citizenship or Place of Organization
California
- ----------------------=========================================================
7 Sole Voting Power
-0-
------=========================================================
Number of 8 Shared Voting Power
Shares
Beneficially -0-
Owned By Each
Reporting
Person With
------=========================================================
9 Sole Dispositive Power
-0-
------=========================================================
10 Shared Dispositive Power
-0-
- ---------======================================================================
11 Aggregate Amount Beneficially Owned By Each Reporting Person
-0-
- ---------======================================================================
12 Check Box if the Aggregate Amount in Row (11)
Excludes Certain Shares*
[ ]
- ---------======================================================================
13 Percent of Class Represented by Amount in Row (11)
0.0%
- ---------======================================================================
14 Type of Reporting Person*
PN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 4 of 34 Pages
<PAGE>
SCHEDULE 13D
===============================
CUSIP No. 983929100
===============================
- ---------======================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Farallon Capital Institutional Partners III, L.P.
- ---------======================================================================
2 Check the Appropriate Box if a Member of a Group*
(a) [ ]
(b) [ X ]
- ---------======================================================================
3 SEC Use Only
- ---------======================================================================
4 Source of Funds*
WC
- ---------======================================================================
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
-0-
------=========================================================
Number of 8 Shared Voting Power
Shares
Beneficially -0-
Owned By Each
Reporting
Person With
------=========================================================
9 Sole Dispositive Power
-0-
------=========================================================
10 Shared Dispositive Power
-0-
- ---------======================================================================
11 Aggregate Amount Beneficially Owned By Each Reporting Person
-0-
- ---------======================================================================
12 Check Box if the Aggregate Amount in Row (11)
Excludes Certain Shares*
[ ]
- ---------======================================================================
13 Percent of Class Represented by Amount in Row (11)
0.0%
- ---------======================================================================
14 Type of Reporting Person*
PN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 5 of 34 Pages
<PAGE>
SCHEDULE 13D
===============================
CUSIP No. 983929100
===============================
- ---------======================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Tinicum Partners, L.P.
- ---------======================================================================
2 Check the Appropriate Box if a Member of a Group*
(a) [ ]
(b) [ X ]
- ---------======================================================================
3 SEC Use Only
- ---------======================================================================
4 Source of Funds*
N/A
- ---------======================================================================
5 Check Box if Disclosure of Legal Proceedings is
Required Pursuant to Items 2(d) or 2(e)
[ ]
- ---------======================================================================
6 Citizenship or Place of Organization
New York
- ----------------------=========================================================
7 Sole Voting Power
-0-
------=========================================================
Number of 8 Shared Voting Power
Shares
Beneficially -0-
Owned By Each
Reporting
Person With
------=========================================================
9 Sole Dispositive Power
-0-
------=========================================================
10 Shared Dispositive Power
-0-
- ---------======================================================================
11 Aggregate Amount Beneficially Owned By Each Reporting Person
-0-
- ---------======================================================================
12 Check Box if the Aggregate Amount in Row (11)
Excludes Certain Shares*
[ ]
- ---------======================================================================
13 Percent of Class Represented by Amount in Row (11)
0.0%
- ---------======================================================================
14 Type of Reporting Person*
PN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 6 of 34 Pages
<PAGE>
SCHEDULE 13D
===============================
CUSIP No. 983929100
===============================
- ---------======================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Farallon Capital Management, L.L.C.
- ---------======================================================================
2 Check the Appropriate Box if a Member of a Group*
(a) [ ]
(b) [ X ]
- ---------======================================================================
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
-0-
------=========================================================
Number of 8 Shared Voting Power
Shares
Beneficially -0-
Owned By Each
Reporting
Person With
------=========================================================
9 Sole Dispositive Power
-0-
------=========================================================
10 Shared Dispositive Power
-0-
- ---------======================================================================
11 Aggregate Amount Beneficially Owned By Each Reporting Person
-0-
- ---------======================================================================
12 Check Box if the Aggregate Amount in Row (11)
Excludes Certain Shares*
[ ]
- ---------======================================================================
13 Percent of Class Represented by Amount in Row (11)
0.0%
- ---------======================================================================
14 Type of Reporting Person*
IA, OO
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 7 of 34 Pages
<PAGE>
SCHEDULE 13D
===============================
CUSIP No. 983929100
===============================
- ---------======================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Farallon Partners, L.L.C.
- ---------======================================================================
2 Check the Appropriate Box if a Member of a Group*
(a) [ ]
(b) [ X ]
- ---------======================================================================
3 SEC Use Only
- ---------======================================================================
4 Source of Funds*
AF
- ---------======================================================================
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
-0-
------=========================================================
Number of 8 Shared Voting Power
Shares
Beneficially -0-
Owned By Each
Reporting
Person With
------=========================================================
9 Sole Dispositive Power
-0-
------=========================================================
10 Shared Dispositive Power
-0-
- ---------======================================================================
11 Aggregate Amount Beneficially Owned By Each Reporting Person
-0-
- ---------======================================================================
12 Check Box if the Aggregate Amount in Row (11)
Excludes Certain Shares*
[ ]
- ---------======================================================================
13 Percent of Class Represented by Amount in Row (11)
0.0%
- ---------======================================================================
14 Type of Reporting Person*
OO
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 8 of 34 Pages
<PAGE>
SCHEDULE 13D
===============================
CUSIP No. 983929100
===============================
- ---------======================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Enrique H. Boilini
- ---------======================================================================
2 Check the Appropriate Box if a Member of a Group*
(a) [ ]
(b) [ X ]
- ---------======================================================================
3 SEC Use Only
- ---------======================================================================
4 Source of Funds*
AF, 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
Argentina
- ----------------------=========================================================
7 Sole Voting Power
-0-
------=========================================================
Number of 8 Shared Voting Power
Shares
Beneficially -0-
Owned By Each
Reporting
Person With
------=========================================================
9 Sole Dispositive Power
-0-
------=========================================================
10 Shared Dispositive Power
-0-
- ---------======================================================================
11 Aggregate Amount Beneficially Owned By Each Reporting Person
-0-
- ---------======================================================================
12 Check Box if the Aggregate Amount in Row (11)
Excludes Certain Shares*
[ ]
- ---------======================================================================
13 Percent of Class Represented by Amount in Row (11)
0.0%
- ---------======================================================================
14 Type of Reporting Person*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 9 of 34 Pages
<PAGE>
SCHEDULE 13D
===============================
CUSIP No. 983929100
===============================
- ---------======================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
David I. Cohen
- ---------======================================================================
2 Check the Appropriate Box if a Member of a Group*
(a) [ ]
(b) [ X ]
- ---------======================================================================
3 SEC Use Only
- ---------======================================================================
4 Source of Funds*
AF, 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
South Africa
- ----------------------=========================================================
7 Sole Voting Power
-0-
------=========================================================
Number of 8 Shared Voting Power
Shares
Beneficially -0-
Owned By Each
Reporting
Person With
------=========================================================
9 Sole Dispositive Power
-0-
------=========================================================
10 Shared Dispositive Power
-0-
- ---------======================================================================
11 Aggregate Amount Beneficially Owned By Each Reporting Person
-0-
- ---------======================================================================
12 Check Box if the Aggregate Amount in Row (11)
Excludes Certain Shares*
[ ]
- ---------======================================================================
13 Percent of Class Represented by Amount in Row (11)
0.0%
- ---------======================================================================
14 Type of Reporting Person*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 10 of 34 Pages
<PAGE>
SCHEDULE 13D
===============================
CUSIP No. 983929100
===============================
- ---------======================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Joseph F. Downes
- ---------======================================================================
2 Check the Appropriate Box if a Member of a Group*
(a) [ ]
(b) [ X ]
- ---------======================================================================
3 SEC Use Only
- ---------======================================================================
4 Source of Funds*
AF, 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
-0-
------=========================================================
Number of 8 Shared Voting Power
Shares
Beneficially -0-
Owned By Each
Reporting
Person With
------=========================================================
9 Sole Dispositive Power
-0-
------=========================================================
10 Shared Dispositive Power
-0-
- ---------======================================================================
11 Aggregate Amount Beneficially Owned By Each Reporting Person
-0-
- ---------======================================================================
12 Check Box if the Aggregate Amount in Row (11)
Excludes Certain Shares*
[ ]
- ---------======================================================================
13 Percent of Class Represented by Amount in Row (11)
0.0%
- ---------======================================================================
14 Type of Reporting Person*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 11 of 34 Pages
<PAGE>
SCHEDULE 13D
===============================
CUSIP No. 983929100
===============================
- ---------======================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Fleur E. Fairman
- ---------======================================================================
2 Check the Appropriate Box if a Member of a Group*
(a) [ ]
(b) [ X ]
- ---------======================================================================
3 SEC Use Only
- ---------======================================================================
4 Source of Funds*
AF
- ---------======================================================================
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
-0-
------=========================================================
Number of 8 Shared Voting Power
Shares
Beneficially -0-
Owned By Each
Reporting
Person With
------=========================================================
9 Sole Dispositive Power
-0-
------=========================================================
10 Shared Dispositive Power
-0-
- ---------======================================================================
11 Aggregate Amount Beneficially Owned By Each Reporting Person
-0-
- ---------======================================================================
12 Check Box if the Aggregate Amount in Row (11)
Excludes Certain Shares*
[ ]
- ---------======================================================================
13 Percent of Class Represented by Amount in Row (11)
0.0%
- ---------======================================================================
14 Type of Reporting Person*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 12 of 34 Pages
<PAGE>
SCHEDULE 13D
===============================
CUSIP No. 983929100
===============================
- ---------======================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Jason M. Fish
- ---------======================================================================
2 Check the Appropriate Box if a Member of a Group*
(a) [ ]
(b) [ X ]
- ---------======================================================================
3 SEC Use Only
- ---------======================================================================
4 Source of Funds*
AF, 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
-0-
------=========================================================
Number of 8 Shared Voting Power
Shares
Beneficially -0-
Owned By Each
Reporting
Person With
------=========================================================
9 Sole Dispositive Power
-0-
------=========================================================
10 Shared Dispositive Power
-0-
- ---------======================================================================
11 Aggregate Amount Beneficially Owned By Each Reporting Person
-0-
- ---------======================================================================
12 Check Box if the Aggregate Amount in Row (11)
Excludes Certain Shares*
[ ]
- ---------======================================================================
13 Percent of Class Represented by Amount in Row (11)
0.0%
- ---------======================================================================
14 Type of Reporting Person*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 13 of 34 Pages
<PAGE>
SCHEDULE 13D
===============================
CUSIP No. 983929100
===============================
- ---------======================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Andrew B. Fremder
- ---------======================================================================
2 Check the Appropriate Box if a Member of a Group*
(a) [ ]
(b) [ X ]
- ---------======================================================================
3 SEC Use Only
- ---------======================================================================
4 Source of Funds*
AF, 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
-0-
------=========================================================
Number of 8 Shared Voting Power
Shares
Beneficially -0-
Owned By Each
Reporting
Person With
------=========================================================
9 Sole Dispositive Power
-0-
------=========================================================
10 Shared Dispositive Power
-0-
- ---------======================================================================
11 Aggregate Amount Beneficially Owned By Each Reporting Person
-0-
- ---------======================================================================
12 Check Box if the Aggregate Amount in Row (11)
Excludes Certain Shares*
[ ]
- ---------======================================================================
13 Percent of Class Represented by Amount in Row (11)
0.0%
- ---------======================================================================
14 Type of Reporting Person*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 14 of 34 Pages
<PAGE>
SCHEDULE 13D
===============================
CUSIP No. 983929100
===============================
- ---------======================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
William F. Mellin
- ---------======================================================================
2 Check the Appropriate Box if a Member of a Group*
(a) [ ]
(b) [ X ]
- ---------======================================================================
3 SEC Use Only
- ---------======================================================================
4 Source of Funds*
AF, 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
-0-
------=========================================================
Number of 8 Shared Voting Power
Shares
Beneficially -0-
Owned By Each
Reporting
Person With
------=========================================================
9 Sole Dispositive Power
-0-
------=========================================================
10 Shared Dispositive Power
-0-
- ---------======================================================================
11 Aggregate Amount Beneficially Owned By Each Reporting Person
-0-
- ---------======================================================================
12 Check Box if the Aggregate Amount in Row (11)
Excludes Certain Shares*
[ ]
- ---------======================================================================
13 Percent of Class Represented by Amount in Row (11)
0.0%
- ---------======================================================================
14 Type of Reporting Person*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 15 of 34 Pages
<PAGE>
SCHEDULE 13D
===============================
CUSIP No. 983929100
===============================
- ---------======================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Stephen L. Millham
- ---------======================================================================
2 Check the Appropriate Box if a Member of a Group*
(a) [ ]
(b) [ X ]
- ---------======================================================================
3 SEC Use Only
- ---------======================================================================
4 Source of Funds*
AF, 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
-0-
------=========================================================
Number of 8 Shared Voting Power
Shares
Beneficially -0-
Owned By Each
Reporting
Person With
------=========================================================
9 Sole Dispositive Power
-0-
------=========================================================
10 Shared Dispositive Power
-0-
- ---------======================================================================
11 Aggregate Amount Beneficially Owned By Each Reporting Person
-0-
- ---------======================================================================
12 Check Box if the Aggregate Amount in Row (11)
Excludes Certain Shares*
[ ]
- ---------======================================================================
13 Percent of Class Represented by Amount in Row (11)
0.0%
- ---------======================================================================
14 Type of Reporting Person*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 16 of 34 Pages
<PAGE>
SCHEDULE 13D
===============================
CUSIP No. 983929100
===============================
- ---------======================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Meridee A. Moore
- ---------======================================================================
2 Check the Appropriate Box if a Member of a Group*
(a) [ ]
(b) [ X ]
- ---------======================================================================
3 SEC Use Only
- ---------======================================================================
4 Source of Funds*
AF, 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
-0-
------=========================================================
Number of 8 Shared Voting Power
Shares
Beneficially -0-
Owned By Each
Reporting
Person With
------=========================================================
9 Sole Dispositive Power
-0-
------=========================================================
10 Shared Dispositive Power
-0-
- ---------======================================================================
11 Aggregate Amount Beneficially Owned By Each Reporting Person
-0-
- ---------======================================================================
12 Check Box if the Aggregate Amount in Row (11)
Excludes Certain Shares*
[ ]
- ---------======================================================================
13 Percent of Class Represented by Amount in Row (11)
0.0%
- ---------======================================================================
14 Type of Reporting Person*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 17 of 34 Pages
<PAGE>
SCHEDULE 13D
===============================
CUSIP No. 983929100
===============================
- ---------======================================================================
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Thomas F. Steyer
- ---------======================================================================
2 Check the Appropriate Box if a Member of a Group*
(a) [ ]
(b) [ X ]
- ---------======================================================================
3 SEC Use Only
- ---------======================================================================
4 Source of Funds*
AF, 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
-0-
------=========================================================
Number of 8 Shared Voting Power
Shares
Beneficially -0-
Owned By Each
Reporting
Person With
------=========================================================
9 Sole Dispositive Power
-0-
------=========================================================
10 Shared Dispositive Power
-0-
- ---------======================================================================
11 Aggregate Amount Beneficially Owned By Each Reporting Person
-0-
- ---------======================================================================
12 Check Box if the Aggregate Amount in Row (11)
Excludes Certain Shares*
[ ]
- ---------======================================================================
13 Percent of Class Represented by Amount in Row (11)
0.0%
- ---------======================================================================
14 Type of Reporting Person*
IN
- ---------======================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 18 of 34 Pages
<PAGE>
This Amendment No. 1 to Schedule 13D amends the Schedule 13D initially
filed on February 17, 1998 (collectively, with all amendments thereto, the
"Schedule 13D"). The Schedule 13D is being filed to reflect the conversion of
all of the Reporting Persons' Shares into shares of common stock of Premiere
Technologies, Inc., pursuant to the Agreement and Plan of Merger, dated as of
November 13, 1997, among Premiere Technologies, Inc., Nets Acquisition Corp. and
the Company. For a copy of the Agreement and Plan of Merger, see the Form 8-K or
Form 8-K/A each filed by the Company with the SEC on November 25, 1997 or the
Form 8-K filed by Premiere Technologies, Inc. with the SEC on March 13, 1998.
Item 2. Identity and Background.
The footnote to Item 2(a) of the Schedule 13D is amended and restated in
its entirety as follows:
1 Of the Shares reported by FCMLLC on behalf of the Managed Accounts, 0
Shares (equal to 0.0% of the total Shares currently outstanding) are held
by the Absolute Return Fund of The Common Fund, a non-profit corporation
whose principal address is 450 Post Road East, Westport, Connecticut 06881.
Item 3. Source and Amount of Funds and Other Consideration.
Item 3 of the Schedule 13D is amended and supplemented by the following:
The net investment cost (including commissions) is $131,067 for the 3,800
Shares acquired by FCP since the filing of the prior Schedule 13D, $10,347 for
the 300 Shares acquired by FCIP III since the filing of the prior Schedule 13D,
and $203,499 for the 5,900 Shares acquired by the Managed Accounts since the
filing of the prior Schedule 13D.
The consideration for such acquisitions was obtained as follows: (i) with
respect to FCIP III, from working capital; (ii) with respect to the Managed
Accounts, from the working capital of each
Page 19 of 34 Pages
<PAGE>
Managed Account and/or from borrowings pursuant to margin accounts maintained by
some of the Managed Accounts at Goldman, Sachs & Co.; and (iii) with respect to
FCP, from working capital, and/or from borrowings pursuant to a margin account
maintained by FCP at Goldman, Sachs & Co. FCP and some of the Managed Accounts
hold certain securities in their respective margin accounts at Goldman, Sachs &
Co., and the accounts may from time to time have debit balances. It is not
possible to determine the amount of borrowings, if any, used to acquire the
Shares.
Item 5. Interest in Securities of the Issuer.
Item 5 of the Schedule 13D is amended and restated in its entirety as
follows:
A. Farallon Capital Partners, L.P.
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of the
cover page hereto for FCP is incorporated herein by reference.
The percentage amount set forth in Row 13 of such cover page and
of each other cover page filed herewith as well as Footnote One
hereto is calculated based upon the 9,083,473 Shares outstanding
as of January 23, 1998, as reported by Premiere Technologies,
Inc., the parent to Nets Acquisition Corp., the
successor-by-merger to the Company, in its Form 8-K filed on
March 13, 1998.
(c) The transaction dates, number of Shares purchased or transferred and
the price per Share for all purchases of the Shares since the filing
of the prior Schedule 13D are set forth on Schedule A hereto and are
incorporated herein by reference. All of such transactions were
open-market transactions or reflect the conversion of each Share into
1.165 shares of common stock of Premiere Technologies, Inc., pursuant
to the Agreement and Plan of Merger, dated as of November 13, 1997,
among Premiere Technologies, Inc., Nets Acquisition Corp. and the
Company.
(d) FPLLC as General Partner has the power to direct the affairs of FCP,
including the disposition of the proceeds of the sale of the Shares.
Steyer is the senior managing member of FPLLC, and Boilini, Cohen,
Downes, Fairman, Fish, Fremder, Mellin, Millham and Moore are managing
members of FPLLC.
(e) As of February 27, 1998, the Reporting Person is not the beneficial
owner of any Shares.
Page 20 of 34 Pages
<PAGE>
B. Farallon Capital Institutional Partners, L.P.
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of the
cover page hereto for FCIP is incorporated herein by reference.
(c) The transactions dates and number of Shares transferred since the
filing of the prior Schedule 13D are set forth on Schedule B hereto
and are incorporated herein by reference. All of such transactions
reflect the conversion of each Share into 1.165 shares of common stock
of Premiere Technologies, Inc., pursuant to the Agreement and Plan of
Merger, dated as of November 13, 1997, among Premiere Technologies,
Inc., Nets Acquisition Corp. and the Company.
(d) FPLLC as General Partner has the power to direct the affairs of FCIP,
including the disposition of the proceeds of the sale of the Shares.
Steyer is the senior managing member of FPLLC and Boilini, Cohen,
Downes, Fairman, Fish, Fremder, Mellin, Millham and Moore are managing
members of FPLLC.
(e) As of February 27, 1998, the Reporting Person is not the beneficial
owner of any Shares.
C. Farallon Capital Institutional Partners II, L.P.
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of the
cover page hereto for FCIP II is incorporated herein by
reference.
(c) The transaction dates and number of Shares transferred since the
filing of the prior Schedule 13D are set forth on Schedule C hereto
and are incorporated herein by reference. All of such transactions
reflect the conversion of each Share into 1.165 shares of common stock
of Premiere Technologies, Inc., pursuant to the Agreement and Plan of
Merger, dated as of November 13, 1997, among Premiere Technologies,
Inc., Nets Acquisition Corp. and the Company.
(d) FPLLC as General Partner has the power to direct the affairs of FCIP
II, including the disposition of the proceeds of the sale of the
Shares. Steyer is the senior managing member of FPLLC and Boilini,
Cohen, Downes, Fairman, Fish, Fremder, Mellin, Millham and Moore are
managing members of FPLLC.
(e) As of February 27, 1998, the Reporting Person is not the beneficial
owner of any Shares.
D. Farallon Capital Institutional Partners III, L.P.
Page 21 of 34 Pages
<PAGE>
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of the
cover page hereto for FCIP III is incorporated herein by
reference.
(c) The transaction dates, number of Shares purchased or transferred and
the price per Share for all purchases of the Shares since the filing
of the prior Schedule 13D are set forth on Schedule D hereto and are
incorporated herein by reference. All of such transactions were
open-market transactions or reflect the conversion of each Share into
1.165 shares of common stock of Premiere Technologies, Inc., pursuant
to the Agreement and Plan of Merger, dated as of November 13, 1997,
among Premiere Technologies, Inc., Nets Acquisition Corp. and the
Company.
(d) FPLLC as General Partner has the power to direct the affairs of FCIP
III, including the disposition of the proceeds of the sale of the
Shares. Steyer is the senior managing member of FPLLC and Boilini,
Cohen, Downes, Fairman, Fish, Fremder, Mellin, Millham and Moore are
managing members of FPLLC.
(e) As of February 27, 1998, the Reporting Person is not the beneficial
owner of any Shares.
E. Tinicum Partners, L.P.
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of the
cover page hereto for Tinicum is incorporated herein by
reference.
(c) The transaction dates and number of Shares transferred since the
filing of the prior Schedule 13D are set forth on Schedule E hereto
and are incorporated herein by reference. All of such transactions
reflect the conversion of each Share into 1.165 shares of common stock
of Premiere Technologies, Inc., pursuant to the Agreement and Plan of
Merger, dated as of November 13, 1997, among Premiere Technologies,
Inc., Nets Acquisition Corp. and the Company.
(d) FPLLC as General Partner has the power to direct the affairs of
Tinicum, including the disposition of the proceeds of the sale of the
Shares. Steyer is the senior managing member of FPLLC and Boilini,
Cohen, Downes, Fairman, Fish, Fremder, Mellin, Millham and Moore are
managing members of FPLLC.
(e) As of February 27, 1998, the Reporting Person is not the beneficial
owner of any Shares.
F. Farallon Capital Management, L.L.C.
Page 22 of 34 Pages
<PAGE>
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of the
cover page hereto for FCMLLC is incorporated herein by reference.
(c) The transactions dates, number of Shares purchased or transferred and
the price per Share for all purchases of the Shares by the Managed
Accounts since the filing of the prior Schedule 13D are set forth on
Schedule F hereto and are incorporated herein by reference. All of
such transactions were open-market transactions or reflect the
conversion of each Share into 1.165 shares of common stock of Premiere
Technologies, Inc., pursuant to the Agreement and Plan of Merger,
dated as of November 13, 1997, among Premiere Technologies, Inc., Nets
Acquisition Corp. and the Company.
(d) FCMLLC, as an investment adviser, has the power to direct the
disposition of the proceeds of the sale of the Shares held by the
Managed Accounts. Steyer is the senior managing member of FCMLLC and
Boilini, Cohen, Downes, Fish, Fremder, Mellin, Millham and Moore are
managing members of FCMLLC.
(e) As of February 27, 1998, the Reporting Person is not the beneficial
owner of any Shares.
G. Farallon Partners, L.L.C.
(a), (b) The information set forth in rows 7, 8, 9, 10, 11, and 13 of the
cover page hereto for FPLLC is incorporated herein by reference.
(c) None.
(d) FPLLC as General Partner has the power to direct the affairs of the
Partnerships, including the disposition of the proceeds of the sale of
the Shares. Steyer is the senior managing member of FPLLC and Boilini,
Cohen, Downes, Fairman, Fish, Fremder, Mellin, Millham and Moore are
managing members of FPLLC.
(e) As of February 27, 1998, the Reporting Person is not the beneficial
owner of any Shares.
H. Enrique H. Boilini
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of the
cover page hereto for Boilini is incorporated herein by
reference.
(c) None.
Page 23 of 34 Pages
<PAGE>
(d) FPLLC as General Partner has the power to direct the affairs of the
Partnerships, including the disposition of the proceeds of the sale of
the Shares. FCMLLC, as an investment adviser, has the power to direct
the disposition of the proceeds of the sale of the Shares held by the
Managed Accounts. Boilini is a managing member of FCMLLC and FPLLC.
(e) As of February 27, 1998, the Reporting Person is not the beneficial
owner of any Shares.
I. David I. Cohen
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of the
cover page hereto for Cohen is incorporated herein by reference.
(c) None.
(d) FPLLC as General Partner has the power to direct the affairs of the
Partnerships, including the disposition of the proceeds of the sale of
the Shares. FCMLLC, as an investment adviser, has the power to direct
the disposition of the proceeds of the sale of the Shares held by the
Managed Accounts. Cohen is a managing member of FCMLLC and FPLLC.
(e) As of February 27, 1998, the Reporting Person is not the beneficial
owner of any Shares.
J. Joseph F. Downes
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of the
cover page hereto for Downes is incorporated herein by reference.
(c) None.
(d) FPLLC as General Partner has the power to direct the affairs of the
Partnerships, including the disposition of the proceeds of the sale of
the Shares. FCMLLC, as an investment adviser, has the power to direct
the disposition of the proceeds of the sale of the Shares held by the
Managed Accounts. Downes is a managing member of FCMLLC and FPLLC.
(e) As of February 27, 1998, the Reporting Person is not the beneficial
owner of any Shares.
K. Fleur E. Fairman
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of the
cover page hereto for Fairman is incorporated herein by
reference.
Page 24 of 34 Pages
<PAGE>
(c) None.
(d) FPLLC as General Partner has the power to direct the affairs of the
Partnerships, including the disposition of the proceeds of the sale of
the Shares. Fairman is a managing member of FPLLC.
(e) As of February 27, 1998, the Reporting Person is not the beneficial
owner of any Shares.
L. Jason M. Fish
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of the
cover page hereto for Fish is incorporated herein by reference.
(c) None.
(d) FPLLC as General Partner has the power to direct the affairs of the
Partnerships, including the disposition of the proceeds of the sale of
the Shares. FCMLLC, as an investment adviser, has the power to direct
the disposition of the proceeds of the sale of the Shares held by the
Managed Accounts. Fish is a managing member of FCMLLC and FPLLC.
(e) As of February 27, 1998, the Reporting Person is not the beneficial
owner of any Shares.
M. Andrew B. Fremder
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of the
cover page hereto for Fremder is incorporated herein by
reference.
(c) None.
(d) FPLLC as General Partner has the power to direct the affairs of the
Partnerships, including the disposition of the proceeds of the sale of
the Shares. FCMLLC, as an investment adviser, has the power to direct
the disposition of the proceeds of the sale of the Shares held by the
Managed Accounts. Fremder is a managing member of FCMLLC and FPLLC.
(e) As of February 27, 1998, the Reporting Person is not the beneficial
owner of any Shares.
N. William F. Mellin
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of the
cover page hereto for Mellin is incorporated herein by reference.
Page 25 of 34 Pages
<PAGE>
(c) None.
(d) FPLLC as General Partner has the power to direct the affairs of the
Partnerships, including the disposition of the proceeds of the sale of
the Shares. FCMLLC, as an investment adviser, has the power to direct
the disposition of the proceeds of the sale of the Shares held by the
Managed Accounts. Mellin is a managing member of FCMLLC and FPLLC.
(e) As of February 27, 1998, the Reporting Person is not the beneficial
owner of any Shares.
O. Stephen L. Millham
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of the
cover page hereto for Millham is incorporated herein by
reference.
(c) None.
(d) FPLLC as General Partner has the power to direct the affairs of the
Partnerships, including the disposition of the proceeds of the sale of
the Shares. FCMLLC, as an investment adviser, has the power to direct
the disposition of the proceeds of the sale of the Shares held by the
Managed Accounts. Millham is a managing member of FCMLLC and FPLLC.
(e) As of February 27, 1998, the Reporting Person is not the beneficial
owner of any Shares.
P. Meridee A. Moore
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of the
cover page hereto for Moore is incorporated herein by reference.
(c) None.
(d) FPLLC as General Partner has the power to direct the affairs of the
Partnerships, including the disposition of the proceeds of the sale of
the Shares. FCMLLC, as an investment adviser, has the power to direct
the disposition of the proceeds of the sale of the Shares held by the
Managed Accounts. Moore is a managing member of FCMLLC and FPLLC.
(e) As of February 27, 1998, the Reporting Person is not the beneficial
owner of any Shares.
Page 26 of 34 Pages
<PAGE>
Q. Thomas F. Steyer
(a), (b) The information set forth in Rows 7, 8, 9, 10, 11 and 13 of the
cover page hereto for Steyer is incorporated herein by reference.
(c) None.
(d) FPLLC as General Partner has the power to direct the affairs of the
Partnerships, including the disposition of the proceeds of the sale of
the Shares. FCMLLC, as an investment adviser, has the power to direct
the disposition of the proceeds of the sale of the Shares held by the
Managed Accounts. Steyer is the senior managing member of FCMLLC and
FPLLC.
(e) As of February 27, 1998, the Reporting Person is not the beneficial
owner of any Shares.
The Shares reported hereby for the Partnerships are owned directly by the
Partnerships and those reported by FCMLLC on behalf of the Managed Accounts are
owned directly by the Managed Accounts. Each of Boilini, Cohen, Downes, Fish,
Fremder, Mellin, Millham, Moore and Steyer may be deemed, as managing members of
FPLLC and FCMLLC, to be the beneficial owner of all such Shares. Each of FPLLC
and Fairman, as a managing member of FPLLC, may be deemed to be the beneficial
owner of all such Shares owned by the Partnerships. FCMLLC may be deemed to be
the beneficial owner of all such Shares owned by the Managed Accounts. Each of
FCMLLC, FPLLC, Boilini, Cohen, Downes, Fairman, Fish, Fremder, Mellin, Millham,
Moore and Steyer hereby disclaim any beneficial ownership of any such Shares.
Page 27 of 34 Pages
<PAGE>
SIGNATURES
After reasonable inquiry and to the best of our knowledge and belief, the
undersigned certify that the information set forth in this statement is true,
complete and correct.
Dated: April 2, 1998
/s/ David I. Cohen
FARALLON PARTNERS, L.L.C., on its own behalf and as
General Partner of FARALLON CAPITAL PARTNERS, L.P.,
FARALLON CAPITAL INSTITUTIONAL PARTNERS, L.P.,
FARALLON CAPITAL INSTITUTIONAL PARTNERS II, L.P.,
FARALLON CAPITAL INSTITUTIONAL PARTNERS III, L.P. and
TINICUM PARTNERS, L.P.
By David I. Cohen,
Managing Member
/s/ David I. Cohen
FARALLON CAPITAL MANAGEMENT, L.L.C.
By David I. Cohen,
Managing Member
/s/ David I. Cohen
David I. Cohen, individually and as
attorney-in-fact for each of Enrique H. Boilini,
Joseph F. Downes, Fleur E. Fairman, Jason M. Fish,
Andrew B. Fremder, William F. Mellin,
Stephen L. Millham, Meridee A. Moore, and
Thomas F. Steyer.
The Powers of Attorney each executed by Boilini, Downes, Fairman, Fish,
Fremder, Mellin, Millham, Moore and Steyer authorizing Cohen to sign and file
this Schedule 13D on each person's behalf was filed with Amendment No. 5 to the
Schedule 13D filed with the SEC on February 2, 1998, by such Reporting Persons
with respect to the Units of Axogen Limited are hereby incorporated by
reference.
Page 28 of 34 Pages
<PAGE>
SCHEDULE A
FARALLON CAPITAL PARTNERS, L.P.
NO. OF SHARES
PURCHASED (P) OR PRICE
TRANSACTION DATE TRANSFERRED (T) PER SHARE
(including commission)
02/20/98 3,800 (P) $34.49
02/27/98 160,400 (T) N/A(1)
- --------
1 All of such transfers reflect the conversion of each Share into 1.165
shares of common stock of Premiere Technologies, Inc., pursuant to the
Agreement and Plan of Merger, dated as of November 13, 1997, among Premiere
Technologies, Inc., Nets Acquisition Corp. and the Company.
Page 29 of 34 Pages
<PAGE>
SCHEDULE B
FARALLON CAPITAL INSTITUTIONAL PARTNERS, L.P.
NO. OF SHARES PRICE
TRANSACTION DATE TRANSFERRED (T) PER SHARE
(including commission)
02/27/98 137,700 (T) N/A(1)
- --------
1 All of such transfers reflect the conversion of each Share into 1.165
shares of common stock of Premiere Technologies, Inc., pursuant to the
Agreement and Plan of Merger, dated as of November 13, 1997, among Premiere
Technologies, Inc., Nets Acquisition Corp. and the Company.
Page 30 of 34 Pages
<PAGE>
SCHEDULE C
FARALLON CAPITAL INSTITUTIONAL PARTNERS II, L.P.
NO. OF SHARES PRICE
TRANSACTION DATE TRANSFERRED (T) PER SHARE
(including commission)
02/27/98 44,600 (T) N/A(1)
- --------
1 All of such transfers reflect the conversion of each Share into 1.165
shares of common stock of Premiere Technologies, Inc., pursuant to the
Agreement and Plan of Merger, dated as of November 13, 1997, among Premiere
Technologies, Inc., Nets Acquisition Corp. and the Company.
Page 31 of 34 Pages
<PAGE>
SCHEDULE D
FARALLON CAPITAL INSTITUTIONAL PARTNERS III, L.P.
NO. OF SHARES
PURCHASED (P) OR PRICE
TRANSACTION DATE TRANSFERRED (T) PER SHARE
(including commission)
02/20/98 300 (P) $34.49
02/27/98 18,000 (T) N/A(1)
- --------
1 All of such transfers reflect the conversion of each Share into 1.165
shares of common stock of Premiere Technologies, Inc., pursuant to the
Agreement and Plan of Merger, dated as of November 13, 1997, among Premiere
Technologies, Inc., Nets Acquisition Corp. and the Company.
Page 32 of 34 Pages
<PAGE>
SCHEDULE E
TINICUM PARTNERS, L.P.
NO. OF SHARES PRICE
TRANSACTION DATE TRANSFERRED (T) PER SHARE
(including commission)
02/27/98 20,500 (T) N/A(1)
- --------
1 All of such transfers reflect the conversion of each Share into 1.165
shares of common stock of Premiere Technologies, Inc., pursuant to the
Agreement and Plan of Merger, dated as of November 13, 1997, among Premiere
Technologies, Inc., Nets Acquisition Corp. and the Company.
Page 33 of 34 Pages
<PAGE>
SCHEDULE F
FARALLON CAPITAL MANAGEMENT, L.L.C.
NO. OF SHARES
PURCHASED (P) OR PRICE
TRANSACTION DATE TRANSFERRED (T) PER SHARE
(including commission)
02/20/98 5,400 (P) $34.49
02/27/98 146,800 (T) N/A(1)
02/20/98 100 (P) $34.49
02/27/98 9,000 (T) N/A(1)
02/20/98 400 (P) $34.49
02/27/98 32,700 (T) N/A(1)
- --------
1 All of such transfers reflect the conversion of each Share into 1.165
shares of common stock of Premiere Technologies, Inc., pursuant to the
Agreement and Plan of Merger, dated as of November 13, 1997, among Premiere
Technologies, Inc., Nets Acquisition Corp. and the Company.
Page 34 of 34 Pages
