SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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(Amendment No. 3)
SCHEDULE 14D-1/A
Tender Offer Statement
Pursuant to Section 14(d)(1)of the Securities Exchange Act of 1934
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GLOBAL MOTORSPORT GROUP, INC.
(Name of Subject Company)
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GOLDEN CYCLE, LLC
ALEXANDER GRASS
ROGER GRASS
(Bidders)
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COMMON STOCK, PAR VALUE $.001 PER SHARE
(INCLUDING THE ASSOCIATED PREFERRED SHARE PURCHASE RIGHTS)
(Title of Class of Securities)
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378937106
(CUSIP Number of Class of Securities)
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ROGER GRASS
GOLDEN CYCLE, LLC
ONE WYNNEWOOD ROAD, SUITE 100
WYNNEWOOD, PA 19096
(610) 642-8600
(Name, Address and Telephone Number of Persons Authorized to
Receive Notices and Communications on Behalf of Bidder)
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COPY TO:
HERBERT HENRYSON II, ESQ.
WOLF, BLOCK, SCHORR AND SOLIS-COHEN LLP
111 SOUTH 15TH STREET
PHILADELPHIA, PA 19102
(215) 977-2000
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CUSIP No. 378937106 14D-1- Page 2
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1 NAME OF REPORTING PERSON: Golden Cycle, LLC
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (entities only): 23-294-3669
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS: WC, AF, BK, OO
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS
IS REQUIRED PURSUANT TO ITEMS 2(e) or 2(f) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION Pennsylvania
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7 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:
528,100
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8 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES [ ]
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9 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 10.4%
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10 TYPE OF REPORTING PERSON: OO
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<PAGE>
CUSIP No. 378937106 14D-1-Page 3
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1 NAME OF REPORTING PERSON: Alexander Grass
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (entities only):
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS: PF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS
IS REQUIRED PURSUANT TO ITEMS 2(e) or 2(f) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION United States
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7 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:
0
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8 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES [ ]
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9 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 0.0%
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10 TYPE OF REPORTING PERSON: IN
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<PAGE>
CUSIP No. 378937106 14D-1- Page 4
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1 NAME OF REPORTING PERSON: Roger Grass
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (entities only):
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS: PF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS
IS REQUIRED PURSUANT TO ITEMS 2(e) or 2(f) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION United States
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7 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:
0
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8 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES [ ]
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9 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 0.0%
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10 TYPE OF REPORTING PERSON: IN
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<PAGE>
This Amendment No. 3 amends and supplements the Tender Offer Statement on
Schedule 14D-1 dated April 7, 1998 filed by Golden Cycle, LLC, a Pennsylvania
limited liability company, to purchase all outstanding shares of Common Stock,
par value $0.001 per share (the "Shares"), of Global Motorsport Group, Inc., a
Delaware corporation (the "Company"), including the associated Preferred Share
Purchase Rights (the "Rights") issued pursuant to the Rights Agreement dated as
of November 13, 1996 between the Company and American Stock Transfer and Trust
Company, as Rights Agent, at $18.00 per Share and associate Right, net to the
seller in cash, upon the terms and subject to the conditions set forth in the
Offer to Purchase dated April 7, 1998 and the related Letter of Transmittal.
The Schedule 14D-1 is hereby amended by adding Alexander Grass and Roger Grass
as signatories thereto.
ITEM 3. PAST CONTACTS, TRANSACTIONS OR NEGOTIATIONS WITH THE SUBJECT COMPANY.
Item 3(b) is hereby amended by adding the following:
On March 27, 1998, Alexander Grass, on behalf of the Purchaser, sent a
letter to Mr. Piazza reiterating the Purchaser=s willingness to negotiate all
aspects of its offer and requesting that the Purchaser be provided with all
non-public information concerning the Company which is given to third parties
considering an acquisition of the Company or used by the Company=s financial
advisors in developing strategic alternatives for maximizing value for the
Company=s stockholders.
ITEM 9. FINANCIAL STATEMENTS OF CERTAIN BIDDERS.
Item 9 is hereby amended by replacing Item 9 to read in its entirety as
follows:
Since the Purchaser has not engaged in any business since its organization
other than in connection with the acquisition of the Company, the Consent
Solicitation and the Offer, there are no financial statements available
regarding the Purchaser. Messrs. Alexander Grass and Roger Grass have sufficient
liquid net assets to satisfy their commitment to purchase an aggregate of $50
million in equity securities of the Purchaser to the extent that institutional
and other investors do not purchase such securities.
Item 11(a) is hereby amended by adding the following:
(a)(10) Press Release, issued by the Purchaser, dated April 17, 1998.
Item 11(f) is hereby amended by adding the following:
Notwithstanding any other term or provision of the Offer, the Purchaser
will not be required to accept for payment or, subject to any applicable rules
and regulations of the Commission, including Rule 14e-1(c) under the Exchange
Act (relating to a bidder=s obligation to pay for or return tendered securities
promptly after the termination or withdrawal of such bidder=s offer), to pay for
any Shares not theretofore accepted for payment or paid for, unless, prior to
the Expiration Date, (1) the Minimum Tender Condition shall have been satisfied,
(2) the Rights Condition shall have been satisfied, (3) the Business Combination
Condition shall have been satisfied, (4) the Financing Condition shall have been
<PAGE>
satisfied and (5) any waiting period under the HSR Act applicable to the
purchase of Shares pursuant to the Offer shall have expired or been terminated.
Furthermore, notwithstanding any other term or provision of the Offer, the
Purchaser will not be required to accept for payment or, subject as aforesaid,
to pay for any Shares not theretofore accepted for payment or paid for, and may
terminate or amend the Offer if, at any time on or after April 6, 1998, and
before the Expiration Date, any of the events or facts set forth in paragraphs
(a) through (h) set forth in Section 14 of the Offer to Purchase shall have
occurred.
If the Purchaser makes a material change in the terms of the Offer or the
information concerning the Offer or waives a material condition of the Offer,
the Purchaser will disseminate additional tender offer materials and extend the
Offer to the extent required by Rules 14d-4(c), 14d-6(d) and 14e-1 under the
Exchange Act. The Offer will remain open for a minimum period of 5 business days
following the waiver of a material condition of the Offer.
<PAGE>
SIGNATURE
After due 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: April 17, 1998
GOLDEN CYCLE, LLC
By: /s/ ROGER GRASS
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Name: Roger Grass
Title: Vice President
/s/ ALEXANDER GRASS
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Alexander Grass
/s/ ROGER GRASS
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Roger Grass
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INDEX TO EXHIBITS
<TABLE>
<CAPTION>
EXHIBIT
NUMBER EXHIBIT
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<S> <C>
(a)(1) Offer to Purchase, dated April 7, 1998.
(2) Letter of Transmittal with respect to the Shares and Rights.
(3) Letter, dated April 7, 1998, from Jefferies & Company, Inc. to
brokers, dealers, banks, trust companies and nominees.
(4) Letter to be sent by brokers, dealers, banks, trust companies and
nominees to their clients.
(5) Notice of Guaranteed Delivery.
(6) IRS Guidelines for Certification of Taxpayer Identification Number on
Substitute Form W-9.
(7) Press Release, dated April 6, 1998.
(8) Form of summary advertisement, dated April 7, 1998.
(9) Letter dated April 14, 1998 from Alexander Grass to Mr. Joseph F. Keenan
*(10) Press Release, issued by the Purchaser, dated April 17, 1998
(b) None.
(c) Letter agreement, dated March 6, 1998, between Jeffries &
Company, Inc. and the Purchaser.
(d) None.
(e) Not Applicable.
(f) None.
(g) Complaint filed by the Purchaser on April 2, 1998 in the Court
of Chancery of the State of Delaware.
(h) Complaint filed by the Purchaser on April 6, 1998 in the
United States District Court in and for the District of
Delaware.
(i) Complaint filed by the Purchaser on April 7, 1998 in the Court
of Chancery of the State of Delaware.
</TABLE>
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* Filed herewith.
Exhibit (a)(10)
GOLDEN CYCLE TO DELIVER CONSENT TO GLOBAL MOTORSPORT GROUP
WYNNEWOOD, PA, April 16, 1998 -- Golden Cycle, LLC today announced that it
intends to deliver a written consent to Global Motorsport Group, Inc.
(NASDAQ:CSTM) on Monday, April 20 in connection with its consent solicitation.
Golden Cycle believes that the delivery of the consent to the company will
establish the record date for holders of Global Motorsport common stock entitled
to vote on its proposals to, among other things, remove the current Board of
Directors of the company. Golden Cycle believes that consents must be delivered
by June 19 in order to be effective. Global Motorsport purports to have set
March 30 as the record date for the solicitation and has contended that consents
must be delivered by May 29. Golden Cycle believes that the record date and
expiration date issues will be resolved by the Delaware court.
