<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
Rally's Hamburgers, Inc.
------------------------------------------------------------
(Name of Issuer)
Warrants
------------------------------------------------------------
(Title of Class and Securities)
751 203 156
------------------------------------------------------------
(CUSIP Number)
David K. Ganek
Paul C. Orwicz
G&O Partners, L.P.
430 Park Avenue
New York, New York 10017
(212) 521-5010
------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
Copy to:
Douglas S. Ellenoff, Esq.
Ellenoff Grossman & Schole
200 Madison Avenue, Suite 1900
New York, New York 10016
(212) 481-4141
------------------------------------------------------------
September 20, 1996
------------------------------------------------------------
(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 this statement [ X ].
<PAGE> 2
SCHEDULE 13D
- ---------------------------------- ----------------------------------------
CUSIP NO. 751 203 156 PAGE 2 OF 7 PAGES
--------------- ----- -----
- ---------------------------------- ----------------------------------------
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
G&O 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*
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 Limited Partnership
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER 391,232 See Item 5
SHARES
BENEFICIALLY ----------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER Not Applicable
EACH
REPORTING ----------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER 391,232
WITH
----------------------------------------------------------
10 SHARED DISPOSITIVE POWER Not Applicable
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
471,362
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES* [_]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.77%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
<PAGE> 3
SCHEDULE 13D
- ---------------------------------- ----------------------------------------
CUSIP NO. 751 203 156 PAGE 3 OF 7 PAGES
--------------- ----- -----
- ---------------------------------- ----------------------------------------
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Ganet & Orwicz Partners, Inc.
- --------------------------------------------------------------------------------
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
New York Corporation
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER 80,130 See Item 5
NUMBER OF ----------------------------------------------------------
SHARES 8 SHARED VOTING POWER Not Applicable
BENEFICIALLY
OWNED BY ---------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER 80,130
REPORTING
PERSON ----------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER Not Applicable
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
471,362
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.77%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
<PAGE> 4
ITEM 1. SECURITY AND ISSUER.
This statement relates to warrants (the "Warrants") exercisable into
common stock, par value $.10 per share ("Common Stock") of Rally's Hamburgers,
Inc., a Delaware corporation (the "Company"), 10002 Shelbyville Road, Suite 150,
Louisville, Kentucky 40223.
ITEM 2. IDENTITY AND BACKGROUND.
(a)-(c) The name of the filers are G&O Partners, L.P., a Delaware
partnership, and Ganek & Orwicz Partners, Inc., a New York
Corporation (the "Filers").
The Filers principal business is investing.
The address of the Filers principal business and office is c/o
G&O Partners, L.P., 430 Park Avenue, New York, New York 10017.
(d) During the last five (5) years, the Filers have not been
convicted in a criminal proceeding (excluding traffic
violations or similar misdemeanors).
(e) During the last five (5) years, the Filers were not a
party to a civil proceeding of a judicial or adminis-
trative body of competent jurisdiction which resulted
in the Filers being at any time subject to a judgement,
decree or final order enjoining future violations of,
or prohibiting or mandating activities subject to,
Federal or State securities laws or finding any viola-
tion with respect to such laws.
(f) Not applicable
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
The funds used to purchase the Warrants were from funds generally
available to the Filers, which were raised in private offerings to investors.
The Filers became owner of Warrants by acquiring transferable
subscription rights to purchase units (the "Units") consisting of one share of
the Company's common stock, par value $.10 per share (the "Common Stock") and
one Warrant to purchase an additional share of Common Stock. The Filers
subscribed for Units on September 20, 1996.
4
<PAGE> 5
ITEM 4. PURPOSE OF TRANSACTION.
The Filers intend to monitor the market for the Warrants and may
purchase or sell some or all of the Warrants from time to time, depending on
market conditions. Such purchase or sale could be in one or more public or
private transactions.
The Filers have no current intentions which relate to or would result
in any of the following events:
(a) The acquisition by any person of additional securities of the Company, or
the disposition of securities of the Company, except that the Filers
intend to monitor the market for the Warrants and may purchase or sell
some or all of the Warrants from time to time, depending on market
conditions;
(b) An extraordinary corporate transaction, such as a merger, reorganization
or liquidation, involving the Company or any of its subsidiaries;
(c) A sale or transfer of a material amount of assets of the Company or any
of its subsidiaries;
(d) Any change in the present board of directors or management of the
Company, including any plans or proposals to change the number or term of
directors or to fill any existing vacancies on the board;
(e) Any material change in the present capitalization or dividend policy of
the Company;
(f) Any other material change in the Company's business or corporate
structure;
(g) Changes in the Company's Articles of Incorporation or Bylaws or other
actions which may impede the acquisition of control of the issuer by any
person;
(h) Causing a class of securities of the Company to be delisted from a
national securities exchange or to cease to be authorized to be quoted on
an inter-dealer quotation system of a registered national securities
association;
(i) A class of equity securities of the Company becoming eligible for
termination of registration pursuant to Section 12(g)(4) of the Act; or
(j) Any action similar to any of those enumerated above.
5
<PAGE> 6
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
(a) G&O Partners, L.P. 391,232 Warrants 8.11%
Ganek & Orwicz
Partners, Inc. 80,130 Warrants 1.66%
Total 471,362 Warrants 9.77%
(b) G&O Partners, L.P.
Sole Voting Power 391,232(1)
Shared Voting Power Not Applicable
Sole Dispositive Power 391,232
Shared Dispositive Power Not Applicable
Ganek & Orwicz Partners, Inc.
Sole Voting Power 80,130(2)
Shared Voting Power Not Applicable
Sole Dispositive Power 80,130
Shared Dispositive Power Not Applicable
(c) The Filers became owner of Warrants by acquiring the Units. The Filers
subscribed for Units on September 20, 1996. The Filers have been active
in trading the Warrants and the underlying securities since the
acquisition of the Warrants.
(d) None
(e) Not Applicable
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDING OR
RELATIONSHIPS WITH RESPECT TO SECURITIES OF
THE ISSUER.
Not Applicable
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
1. Joint Filing Statement
- --------
1 The Warrants have no voting rights. However the Warrants are exercisable
into shares of Common Stock which have the right to vote.
2 The Warrants have no voting rights. However the Warrants are exercisable
into shares of Common Stock which have the right to vote.
<PAGE> 7
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.
Date: October 31, 1996
Signature:
G&O PARTNERS, L.P.
By: /s/ Paul C. Orwicz
---------------------
Name: Ganek & Orwicz Partners, Inc.
Title: General Partner
GANEK & ORWICZ PARTNERS, INC.
By: /s/ Paul C. Orwicz
---------------------
Name: Paul C. Orwicz
Title: Corporate Secretary
<PAGE> 8
EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION
99.1 JOINT FILING STATEMENT
<PAGE> 1
EXHIBIT 1
JOINT FILING STATEMENT
This Joint Filing Statement is executed this 31st day of October, 1996
among G&O Partners, L.P., a Delaware limited partnership and Ganek & Orwicz
Partners, Inc., a New York corporation.
G&O Partners, L.P. and Ganek & Orwicz Partners, Inc. do hereby
agree to file jointly with the Securities and Exchange Commission
any Schedules or other filings or amendments thereto pursuant to
Section 13(d) of the Securities Exchange Act of 1934.
G&O PARTNERS, L.P.
By: /s/ Paul C. Orwicz
-------------------------------------
Name: Ganek & Orwicz Partners, Inc.
Title: General Partner
GANEK & ORWICZ PARTNERS, INC.
By: /s/ Paul C. Orwicz
-------------------------------------
Name: Paul C. Orwicz
Title: Corporate Secretary
