SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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SCHEDULE 13D
(RULE 13d-101)
(AMENDMENT NO. 2)*
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
RULE 13d-2(a)
MAXXIM MEDICAL, INC.
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(Name of Issuer)
COMMON STOCK, $0.001 PAR VALUE
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(Title of Class of Securities)
57777G105
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(CUSIP Number)
SAUL A. FOX
FOX PAINE & COMPANY, LLC
950 TOWER LANE, SUITE 1950
FOSTER CITY, CALIFORNIA 94404
(650) 525-1300
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
JUNE 13, 1999
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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(e), 13d-1(f) or 13d-1(g), check the following box
/ /.
* 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 the
disclosures provided in a prior cover page.
(Continued on following pages)
<PAGE>
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CUSIP NO. 57777G105 13D PAGE 2 OF 8 PAGES
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1 NAME OF REPORTING PERSON
FOX PAINE MEDIC ACQUISITION CORPORATION
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
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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*
OO -- SEE ITEM 3
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5 CHECK 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
TEXAS
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7 SOLE VOTING POWER
NUMBER OF -0-
SHARES -------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 1,158,435 (SEE ITEM 5)
EACH -------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON -0-
WITH -------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,158,435 (SEE ITEM 5)
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,158,435 (SEE ITEM 5)
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12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* /X/
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.1% (SEE ITEM 5)
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14 TYPE OF PERSON REPORTING*
CO
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*SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE>
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CUSIP NO. 57777G105 13D PAGE 3 OF 8 PAGES
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1 NAME OF REPORTING PERSON
FOX PAINE CAPITAL FUND, L.P.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
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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*
OO -- SEE ITEM 3
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5 CHECK 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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7 SOLE VOTING POWER
NUMBER OF -0-
SHARES -------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 1,158,435 (SEE ITEM 5)
EACH -------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON -0-
WITH -------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,158,435 (SEE ITEM 5)
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,158,435 (SEE ITEM 5)
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12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* /X/
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.1% (SEE ITEM 5)
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14 TYPE OF PERSON REPORTING*
PN
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*SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE>
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CUSIP NO. 57777G105 13D PAGE 4 OF 8 PAGES
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1 NAME OF REPORTING PERSON
FOX PAINE CAPITAL, LLC
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
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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*
OO -- SEE ITEM 3
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5 CHECK 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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7 SOLE VOTING POWER
NUMBER OF -0-
SHARES -------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 1,158,435 (SEE ITEM 5)
EACH -------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON -0-
WITH -------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,158,435 (SEE ITEM 5)
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,158,435 (SEE ITEM 5)
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12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* /X/
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.1% (SEE ITEM 5)
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14 TYPE OF PERSON REPORTING*
HC, OO
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*SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE>
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CUSIP NO. 57777G105 13D PAGE 5 OF 8 PAGES
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1 NAME OF REPORTING PERSON
FOX PAINE & COMPANY, LLC
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
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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*
OO -- SEE ITEM 3
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5 CHECK 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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7 SOLE VOTING POWER
NUMBER OF -0-
SHARES -------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 1,158,435 (SEE ITEM 5)
EACH -------------------------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON -0-
WITH -------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,158,435 (SEE ITEM 5)
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,158,435 (SEE ITEM 5)
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12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* /X/
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.1% (SEE ITEM 5)
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14 TYPE OF PERSON REPORTING*
OO
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*SEE INSTRUCTIONS BEFORE FILLING OUT
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This Amendment No. 2 is filed by (i) Fox Paine Capital Fund, L.P., a
Delaware limited partnership ("FPCF"), (ii) Fox Paine Capital, LLC, a Delaware
limited liability company ("FPC") and the general partner of FPCF, (iii) Fox
Paine Medic Acquisition Corporation, a Texas corporation ("FPMAC"), a wholly
owned subsidiary of FPCF, and (iv) Fox Paine & Company, LLC, a Delaware limited
liability company ("Fox Paine", and together with FPMAC, FPCF and FPC, the "Fox
Paine Entities"), and amends Items 3, 4, 5(a) and 5(b) and Annex 2 of the
Statement on Schedule 13D filed by the Fox Paine Entities on June 26, 1999, as
amended on July 9, 1999 (the "Existing Statement"). Capitalized terms used and
not defined herein have the definitions used in the Existing Statement.
Item 3. Source and Amount of Funds or Other Consideration.
Annex 2, which is incorporated by reference into this Item 3, has been
amended and restated.
Item 4. Purpose of Transaction.
The ninth paragraph of Item 4 is amended to read as follows:
To the knowledge of the Fox Paine Entities, the Rollover Shareholders
collectively exercise voting power with respect to approximately 8.1% of the
outstanding shares of Common Stock, excluding shares subject to options
exercisable in the next 60 days. See Item 5.
Item 5. Interest in Securities of the Issuer.
Paragraphs (a) and (b) of Item 5 are amended to replace the first
paragraph thereof as follows:
(a) and (b) 1,158,435 shares of Common Stock, and any shares of Common
Stock as to which any Rollover Shareholder acquires during the term of the
Voting Agreements, are subject to the voting provisions of his or her Voting
Agreement. These 1,158,435 shares of Common Stock beneficially owned by the
Rollover Shareholders represent approximately 8.1% of the outstanding shares of
Common Stock, based on the number of shares of Common Stock outstanding as of
June 9, 1999, as set forth in the Merger Agreement. Based on the share ownership
information disclosed in the preliminary proxy statement filed by Maxxim
Medical, Inc., with the Securities Exchange Commission on July 23, 1999, and
upon information provided by the company, as of June 9, 1999, the Rollover
Shareholders collectively also held options exercisable within 60 days with
respect to 531,840 shares of Common Stock. The Fox Paine Entities do not have
the right to exercise or cause the exercise of these options, and the Fox Paine
Entities expressly disclaim beneficial ownership of the underlying shares. FPMAC
may be deemed, for purposes of Rule 13d-3 promulgated under the Act, to share
with the respective Rollover Shareholders party to the Voting Agreements the
power to vote or dispose of the shares of Common Stock subject to the Voting
Agreements. However, FPMAC (i) is not entitled to any rights as a stockholder of
Maxxim as to such shares, and (ii) disclaims beneficial ownership of all of such
shares. As the sole stockholder of FPMAC, FPCF may be deemed, for purposes of
Rule
<PAGE>
13d-3 under the Act, to beneficially own indirectly the subject shares of Common
Stock that may be deemed to be owned beneficially by FPMAC. As the general
partner of FPCF, FPC may be deemed, for purposes of Rule 13d-3 under the Act, to
beneficially own indirectly the subject shares of Common Stock that may be
deemed to be beneficially owned by FPCF. Fox Paine has the power, by virtue of
certain agreements, to manage the affairs of FPCF, and therefore Fox Paine may
be deemed, for purposes of Rule 13d-3 under the Act, to beneficially own
indirectly the subject shares of Common Stock that may be deemed to be
beneficially owned by FPCF or FPC. FPCF, FPC and Fox Paine disclaim beneficial
ownership of any such shares of Common Stock.
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of the undersigned's knowledge
and belief, the undersigned certify that the information set forth in this
statement is true, complete, and correct.
FOX PAINE MEDIC ACQUISITION
CORPORATION
By: /s/ Saul A. Fox
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Name: Saul A. Fox
Title: Chief Executive Officer
FOX PAINE CAPITAL FUND, L.P.
By: Fox Paine Capital, LLC,
its general partner
By: /s/ Saul A. Fox
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Name: Saul A. Fox
Title: Member
FOX PAINE CAPITAL, LLC
By: /s/ Saul A. Fox
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Name: Saul A. Fox
Title: Member
FOX PAINE & COMPANY, LLC
By: /s/ Saul A. Fox
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Name: Saul A. Fox
Title: Member
August 10, 1999
<PAGE>
EXHIBIT INDEX
SEQUENTIAL
EXHIBIT DESCRIPTION PAGE NO.
Exhibit 1 - Agreement and Plan of Merger, dated as of June 13, 1999,
between Fox Paine Medic Acquisition Corporation and Maxxim
Medical, Inc. (incorporated by reference to Exhibit 2.1 of
Maxxim Medical, Inc.'s Current Report on Form 8-K filed with
the Securities and Exchange Commission on June 16, 1999).
Exhibit 2 - Form of individual Voting Agreement, dated as of June
13, 1999, by and between Fox Paine Medic Acquisition
Corporation and each of 10 shareholders of Maxxim Medical,
Inc. (incorporated by reference to Exhibit 2 of the Schedule
13D filed with the Securities and Exchange Commission by the
Fox Paine Entities on June 26, 1999).
Exhibit 3 - Investor Participation Agreement, dated as of June 13,
1999, by and among Fox Paine Medic Acquisition Corporation
and 10 shareholders of Maxxim Medical, Inc., in their
individual capacities (incorporated by reference to Exhibit
3 of the Schedule 13D filed with the Securities and Exchange
Commission by the Fox Paine Entities on June 26, 1999).
<PAGE>
ANNEX 2
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SHARE OWNERSHIP OF
THE ROLLOVER SHAREHOLDERS
<TABLE>
<CAPTION>
<S> <C> <C> <C>
A B C
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Shares deemed to be beneficially
Shares owned by the Rollover Shareholders
Percentage Beneficially through the ownership of options
Name (1) Owned(2) exercisable within 60 days
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Kenneth W. Davidson 1.7% 241,468 147,000
Peter M. Graham 0.5% 70,500 114,200
David L. Lamont 0.4% 57,250 87,400
Alan S. Blazei 0.3% 44,683 76,400
Henry T. DeHart III 0.3% 39,900 41,200
Joseph D. Dailey 0.2% 28,300 23,400
Jack F. Cahill 0.3% 44,000 35,160
Suzanne R. Garon 0.0% 7,000 2,080
Ernest J. Henley, Ph.D. 2.3% 321,949 5,000
Davis C. Henley 2.1% 303,385 -
</TABLE>
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(1) Does not include shares which may be acquired through the exercise of vested
stock options.
(2) Excludes shares referenced in column "C".
