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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 5)*
ARTISOFT, INC.
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(Name of Issuer)
Common Stock, par value $.01 per share
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(Title of Class of Securities)
04314L106
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(CUSIP Number)
Gerald R. Forsythe
1075 Noel Avenue
Wheeling, Illinois 60090
(847) 459-4250
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
Copy to:
Robert A. McWilliams
Freeborn & Peters
311 South Wacker Drive, Suite 3000
Chicago, Illinois 60606-2118
(312) 360-6000
August 31, 1998
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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(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 the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
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CUSIP No. 04314L106 13D
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(1) NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
GERALD R. FORSYTHE
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS):
(a) [_]
(b) [_]
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(3) SEC USE ONLY
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(4) SOURCE OF FUNDS (SEE INSTRUCTIONS)
PF,OO
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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
UNITED STATES
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(7) SOLE VOTING POWER
NUMBER OF 603,570
SHARES -----------------------------------------------------------
(8) SHARED VOTING POWER
BENEFICIALLY
1,480,389
OWNED BY
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EACH (9) SOLE DISPOSITIVE POWER
REPORTING 603,570
PERSON -----------------------------------------------------------
(10) SHARED DISPOSITIVE POWER
WITH
1,480,389
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(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,083,959
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(12) CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES (SEE INSTRUCTIONS) [_]
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(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
14.33%
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(14) TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
IN
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CUSIP No. 04314L106 13D
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(1) NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
INDECK POWER EQUIPMENT COMPANY
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS):
(a) [_]
(b) [_]
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(3) SEC USE ONLY
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(4) SOURCE OF FUNDS (SEE INSTRUCTIONS)
WC,OO
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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
ILLINOIS
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(7) SOLE VOTING POWER
NUMBER OF 0
SHARES -----------------------------------------------------------
(8) SHARED VOTING POWER
BENEFICIALLY
576,369
OWNED BY
-----------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
REPORTING 0
PERSON -----------------------------------------------------------
(10) SHARED DISPOSITIVE POWER
WITH
576,369
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(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
576,369
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(12) CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES (SEE INSTRUCTIONS) [_]
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(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.96%
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(14) TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
CO
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CUSIP No. 04314L106 13D
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(1) NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
INDECK ENERGY SERVICES, INC.
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS):
(a) [_]
(b) [_]
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(3) SEC USE ONLY
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(4) SOURCE OF FUNDS (SEE INSTRUCTIONS)
WC,OO
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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
ILLINOIS
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(7) SOLE VOTING POWER
NUMBER OF 0
SHARES -----------------------------------------------------------
(8) SHARED VOTING POWER
BENEFICIALLY
864,650
OWNED BY
-----------------------------------------------------------
EACH (9) SOLE DISPOSITIVE POWER
REPORTING 0
PERSON -----------------------------------------------------------
(10) SHARED DISPOSITIVE POWER
WITH
864,650
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(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
864,650
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(12) CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES (SEE INSTRUCTIONS) [_]
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(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.95%
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(14) TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
CO
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AMENDMENT NO. 5 TO SCHEDULE 13D
This Amendment No. 5, which is being filed jointly by Gerald R. Forsythe
("Mr. Forsythe"), Indeck Power Equipment Company ("Indeck Power") and Indeck
Energy Services, Inc. ("Indeck Energy") (collectively, the "Reporting
Persons"), supplements and amends the Statement on Schedule 13D relating to
the common stock, par value $.01 per share (the "Common Stock"), of Artisoft,
Inc. (the "Company") originally filed jointly by the Reporting Persons with
the Commission on January 19, 1996, as amended by Amendment No. 1 filed with
the Commission on July 9, 1996, Amendment No. 2 filed with the Commission on
November 6, 1996, Amendment No. 3 filed with the Commission in September 1988
and Amendment No. 4 filed with the Commission on April 9, 1998 (as amended,
the "Statement").
The following items of this Statement are hereby supplemented and/or
amended as indicated:
ITEM 4. PURPOSE OF THE TRANSACTION.
The Reporting Persons have acquired the Common Stock beneficially owned
by them for investment purposes, because they believe that the trading prices
of the Common Stock in the public market do not adequately reflect the
potential value of the Company's underlying businesses and assets.
None of the Reporting Persons presently has any plans or proposals which
relate to or would result in (a) the acquisition by any person of additional
securities of the Company or the disposition of any such securities, (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 management of the Company, (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) any other material change in the Company's charter, bylaws or
instruments corresponding thereto or other actions which may impede the
acquisition of control of the Company 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 in 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 those
enumerated in the foregoing clauses (a) through (i).
However, as substantial shareholders of the Company, the Reporting
Persons expect and intend to explore and be receptive to opportunities to
enhance the value of the Common Stock owned by the Reporting Persons,
including changes to the composition of the Company's board of directors
and/or management and extraordinary transactions involving the Company. In
addition, depending on market conditions and other factors that the Reporting
Persons may deem material to their respective investment decisions, any of the
Reporting Persons may purchase additional shares of Common Stock or rights to
purchase additional shares of Common Stock in the open market, in
1
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privately negotiated transactions or by any other permissible means and, based
on such factors, any of the Reporting Persons may dispose of any or all of the
shares of Common Stock to which this Statement relates or any other shares of
Common Stock that they may hereafter acquire.
The Reporting Persons may encourage the Company to explore strategic
alternatives to increase shareholder value and, depending on the Company's
response, may consider pursuing such alternatives on their own or with third
parties. The Reporting Persons also may seek to have the Company eliminate or
amend its Rights Agreement (poison pill) and, depending on the Company's
response, may seek a shareholder referendum on the issue. However, the
Reporting Persons currently have no specific plans or proposals with respect
to these matters. On August 21, 1998, the Company modified its Rights
Agreement to raise the threshold limit allowing the acquisition of up to 25%
of the Company's Common Stock without triggering the poison pill.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
(a) The Reporting Persons beneficially own an aggregate of 2,055,059
shares of Common Stock, representing approximately 14.135% of the outstanding
shares of Common Stock (based on 14,539,231 shares outstanding as reported by
the Company in its Quarterly Report on Form 10-Q for the quarter ended March
31, 1998).
(b) Mr. Forsythe has the sole power to vote and dispose of 642,940 shares
of Common Stock owned by him personally, except with respect to 39,370 shares
which he and his wife, Jean D. Forsythe, hold as joint tenants; Mr. Forsythe
and Indeck Power share the power to vote and dispose of the 576,369 shares of
Common Stock owned by Indeck Power; and Mr. Forsythe and Indeck Energy share
the power to vote and dispose of the 864,650 shares owned by Indeck Energy.
2
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(c) The Reporting Person acquired, in market transactions, the following
shares of Common Stock during the past 60 days:
<TABLE>
<CAPTION>
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Date Purchaser Shares Price
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<C> <S> <C> <C>
9/14/98 IES, Inc. 28,900 2.27
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8/31/98 Forsythe 8,500 2.00
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8/28/98 Forsythe 1,000 1.75
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8/28/98 Forsythe 3,000 1.875
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8/28/98 Forsythe 2,000 1.813
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8/28/98 Forsythe 100 2.00
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8/28/98 Forsythe 2,900 2.00
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8/28/98 Forsythe 3,000 1.906
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8/28/98 Forsythe 10,000 1.969
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8/28/98 Forsythe 3,000 1.938
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8/28/98 Forsythe 4,000 2.00
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8/28/98 Forsythe 5,000 2.00
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8/28/98 Forsythe 3,000 2.00
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8/28/98 Forsythe 4,000 2.00
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8/28/98 Forsythe 3,000 2.00
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8/28/98 Forsythe 2,500 2.00
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8/28/98 Forsythe 1,500 2.00
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</TABLE>
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
Exhibit 7.8 Agreement of Joint Filing among the Reporting Persons
dated September 17, 1998
3
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SIGNATURES
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.
Dated: September 17, 1998
/s/ Gerald R. Forsythe
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Gerald R. Forsythe
INDECK POWER EQUIPMENT COMPANY
By: /s/ Gerald R. Forsythe
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Gerald R. Forsythe, Chairman and CEO
INDECK ENERGY SERVICES, INC.
By: /s/ Gerald R. Forsythe
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Gerald R. Forsythe, Chairman and CEO
4
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EXHIBIT INDEX
<TABLE>
<CAPTION>
Exhibit Description
<S> <C>
7.8 Agreement of Joint Filing among the Reporting Persons dated
September 17, 1998
</TABLE>
5
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EXHIBIT 7.8
AGREEMENT OF JOINT FILING
Gerald R. Forsythe, Indeck Power Equipment Company and Indeck Energy
Services, Inc. hereby agree that the Amendment No. 5 to the Schedule 13D to
which this Agreement is attached as an exhibit may be filed on behalf of each
such person.
Dated: September 17, 1998
/s/ Gerald R. Forsythe
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Gerald R. Forsythe
INDECK POWER EQUIPMENT COMPANY
By: /s/ Gerald R. Forsythe
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Gerald R. Forsythe, Chairman and CEO
INDECK ENERGY SERVICES, INC.
By: /s/ Gerald R. Forsythe
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Gerald R. Forsythe, Chairman and CEO
