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OMB APPROVAL
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OMB Number 3235-0287
Expires: September 30, 1998
Estimated average burden
hours per response ....... 0.5
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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
[ X ] Check this box if no longer subject to Section 16. Form 4 or Form 5
obligations may continue. See Instruction 1(b).
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1. Name and Address of Reporting Person*
AMERISERVE FOOD DISTRIBUTION, INC.
(SEE ATTACHED PAGES FOR ADDITIONAL REPORTING PERSONS)
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(Last) (First) (Middle)
14841 DALLAS PARKWAY
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(Street)
DALLAS TX 75420
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
PROSOURCE, INC. (NASDAQ: PSDS)
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3. IRS or Social Security Number of Reporting Person (Voluntary)
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4. Statement for Month/Year
MAY 1998
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5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person to Issuer
(Check all applicable)
[ ] Director [ X ] 10% Owner
[ ] Officer (give title below) [ ] Other (specify below)
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7. Individual or Joint/Group Filing (Check applicable line)
[ ] Form filed by one Reporting Person
[ X ] Form filed by more than one Reporting Person
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Table I -- Non-Derivative Securities Acquired, Disposed of,
or Beneficially Owned
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<TABLE>
<CAPTION>
6.
4. 5. Owner-
Securities Acquired (A) or Amount of ship
3. Disposed of (D) Securities Form: 7.
Transaction (Instr. 3, 4 and 5) Beneficially Direct Nature of
2. Code ------------------------------- Owned at End (D) or Indirect
1. Transaction (Instr. 8) (A) of Month Indirect Beneficial
Title of Security Date ------------ Amount or Price (Instr. 3 (I) Ownership
(Instr. 3) (mm/dd/yy) Code V (D) and 4) (Instr.4) (Instr. 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
COMMON STOCK 5/21/98 J 100 A SEE SEE SEE
ATTACHED ATTACHED ATTACHED
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</TABLE>
* If the Form is filed by more than one Reporting Person, see Instruction
4(b)(v).
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
Page 1 of 5
<PAGE>
FORM 4 (continued)
Table II -- Derivative Securities Acquired, Disposed of, or Beneficially
Owned (e.g., puts, calls, warrants, options, convertible securities)
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<TABLE>
<CAPTION>
9. 10.
Number Owner-
of ship
2. Deriv- of
Conver- 5. 7. ative Deriv- 11.
sion Number of Title and Amount Secur- ative Nature
of Derivative 6. of Underlying 8. ities Secur- of
Exer- 4. Securities Date Securities Price Bene- ity: In-
cise 3. Trans- Acquired (A) Exercisable and (Instr. 3 and 4) of ficially Direct direct
Price Trans- action or Disposed Expiration Date ---------------- Deriv- Owned (D) or Bene-
1. of action Code of(D) (Month/Day/Year) Amount ative at End In- ficial
Title of Deriv- Date (Instr. (Instr. 3, ---------------- or Secur- of direct Owner-
Derivative ative (Month/ 8) 4 and 5) Date Expira- Number ity Month (I) ship
Security Secur- Day/ ------ ------------ Exer- tion of (Instr. (Instr. (Instr. (Instr.
(Instr. 3) ity Year) Code V (A) (D) cisable Date Title Shares 5) 4) 4) 4)
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<S> <C> <C> <C> <C> <C><C> <C> <C> <C> <C> <C> <C> <C> <C>
OPTION (SEE AT-
TACHED)(CONTINGENT
RIGHT TO BUY) $15 5/21/98 J 496,583 SEE SEE CLASS A 496,583 0 SEE SEE
ATTACHED ATTACHED COMMON ATTACHED ATTACHED
STOCK
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OPTION (SEE AT-
TACHED)(CONTINGENT
RIGHT TO BUY) $15 5/21/98 J 5,218,072 SEE SEE CLASS A 5,218,072 0 SEE SEE
ATTACHED ATTACHED COMMON ATTACHED ATTACHED
STOCK
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</TABLE>
Explanation of Responses:
See attached.
See Attached See Attached
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**Signature of Reporting Person Date
** Intentional misstatements or omissions of facts constitute Federal
Criminal Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, see Instruction 6 for procedures.
Page 2 of 5
<PAGE>
FORM 4 CONTINUATION SHEET
ITEM 1: AMERISERVE FOOD DISTRIBUTION, INC.
14841 DALLAS PARKWAY
DALLAS, TX 75240
ITEM 2: PROSOURCE, INC. (NASDAQ: PSDS)
ITEM 4: MAY 21, 1998
EXPLANATION OF RESPONSES
This Statement of Changes in Beneficial Ownership on Form 4 (this "Form 4")
is filed by AmeriServe Food Distribution, Inc., a Delaware corporation
("AmeriServe"), Nebco Evans Holding Company, a Delaware corporation ("NEHC"),
Nebco Evans Distributors, Inc. a Delaware corporation ("NED"), Holberg
Industries, Inc., a Delaware corporation ("Holberg Industries"), Holberg
Incorporated. a Delaware corporation ("Holberg"), and John V. Holten ("Holten").
Together AmeriServe, NEHC, NED, Holberg Industries, Holberg and Mr. Holten are
the "Reporting Persons". All of the outstanding common stock of AmeriServe is
owned by NEHC and all of the outstanding common stock of NEHC is owned by NED.
As of the date hereof, Holberg Industries owns approximately 93% of the
outstanding common stock of NED and has an additional interest in the common
stock of NED of approximately 75% through preferred stock convertible into
common stock; Mr. Holten owns all of the outstanding common stock of Holberg,
the corporate parent of Holberg Industries, which entity owns approximately 70%
of the outstanding common stock of Holberg Industries and an additional interest
in the common stock of Holberg Industries of approximately 25% through certain
preferred stock convertible into common stock. The convertible interests
described in this Form 4 have been computed based upon the outstanding common
shares of each of the corporate Reporting Persons without taking into account
any options or convertible interests therein.
As previously reported in an Initial Statement of Beneficial Ownership on
Form 3, filed with the Securities and Exchange Commission (the "Commission") on
February 9, 1998 by the Reporting Persons, AmeriServe and a wholly owned
subsidiary of AmeriServe ("Merger Sub"), and ProSource, Inc., a Delaware
corporation ("ProSource") entered into an Agreement and Plan of Merger (the
"Merger Agreement"), dated as of January 29, 1998. In connection with the Merger
Agreement, Merger Sub and AmeriServe entered into a Voting Agreement (the
"Voting Agreement"), dated as of January 29, 1998, with Onex DHC LLC, a Wyoming
limited liability company, and certain of its affiliates (collectively, the
"Onex Stockholders"). As of the date of the Voting Agreement, the Onex
Stockholders were the beneficial owners of 496,583 shares of the ProSource's
Class A Common Stock, par value $0.01 per share ("Class A Common Stock") and
5,218,072 shares of the ProSource's Class B Common Stock, par value $0.01 per
share ("Class B Common Stock" and together with the Class A Common Stock, the
"Common Stock"). The shares of Common Stock owned by the Onex Stockholders are
referred to as the "Subject Shares". Pursuant to the Voting Agreement, the Onex
Stockholders granted AmeriServe an irrevocable option (the "Option") to acquire
the Subject Shares, in whole and not in part, at a price of $15.00 per share in
cash, subject to certain conditions and exercisable under certain circumstances.
On May 21, 1998 (the "Effective Time"), the Merger was consummated
pursuant to the Merger Agreement, and each share of ProSource's Common Stock
issued and outstanding immediately prior to the Effective Time (other than (i)
shares of Common Stock owned, directly or indirectly, by ProSource, AmeriServe
or any of their respective subsidiaries and (ii) shares of Common Stock subject
to dissenters' rights) were converted into the right to receive $15.00 in cash
without interest. At the Effective Time, each of the 100 outstanding shares of
common stock of Merger Sub were converted into a share of common stock of
ProSource as the surviving corporation in the Merger. As a result, as of the
Effective Time, ProSource became a wholly owned subsidiary of AmeriServe. In
addition, the Voting Agreement, including the Option, terminated according to
its terms upon the consummation of the Merger.
Following the Merger, the Common Stock was delisted from the Nasdaq
National Market and ProSource filed a Form 15 with the Commission suspending
ProSource's duty to file reports under Section 15(d) of the Securities Exchange
Act of 1934, as amended (the "Exchange Act") and seeking to deregister the
Common Stock under the Exchange Act.
Page 3 of 5
<PAGE>
FORM 4 CONTINUATION SHEET
ITEM 1: AMERISERVE FOOD DISTRIBUTION, INC.
14841 DALLAS PARKWAY
DALLAS, TX 75240
ITEM 2: PROSOURCE, INC. (NASDAQ: PSDS)
ITEM 4: MAY 21, 1998
INSTRUCTION 4(b)(v)
LIST OF OTHER REPORTING PERSONS
WITH PRINCIPAL BUSINESS ADDRESSES
Nebco Evans Holding Company
Nebco Evans Distributors, Inc.
Holberg Industries, Inc.
Holberg Incorporated
John V. Holten
545 Steamboat Road
Greenwich, CT 06830
Page 4 of 5
<PAGE>
FORM 4 CONTINUATION SHEET
ITEM 1: AMERISERVE FOOD DISTRIBUTION, INC.
14841 DALLAS PARKWAY
DALLAS, TX 75240
ITEM 2: PROSOURCE, INC. (NASDAQ: PSDS)
ITEM 4: MAY 21, 1998
SIGNATURES OF REPORTING PERSONS
Dated as of: June 2, 1998
AMERISERVE FOOD DISTRIBUTION, INC.
By: /s/ A. Petter 0stberg
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Name: A. Petter 0stberg
Title: Vice President
Page 5 of 5
