<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 3)*
Aames Financial Corporation
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Shares, par value $0.001
- --------------------------------------------------------------------------------
(Title of Class of Securities)
00253A 2
- --------------------------------------------------------------------------------
(CUSIP Number of Class of Securities)
Capital Z Management, LLC
54 Thompson Street
New York, NY 10012
Attention: Mr. David A. Spuria
Tel. No. (212) 965-0800
Copy to :
Thomas M. Cerabino, Esq.
Willkie Farr & Gallagher
787 Seventh Avenue
New York, New York 10019
(212) 728-8000
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
September 24, 1999 and October 27, 1999
- --------------------------------------------------------------------------------
(Date of Event which Requires
Filing of this Schedule)
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: [ ]
<PAGE>
SCHEDULE 13D
- ------------------ ------------------
CUSIP No. 00253A 2 Page 2 of 19 Pages
- ------------------ ------------------
- ----------- --------------------------------------------------------------------
1 NAME OF REPORT PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Specialty Finance Partners
- ----------- --------------------------------------------------------------------
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 PROCEEDING IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
- ----------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Bermuda
- --------------------- --------- ------------------------------------------------
7 SOLE VOTING POWER
-0-
--------- ------------------------------------------------
NUMBER OF SHARES 8 SHARED VOTING POWER
BENEFICIALLY OWNED
BY EACH REPORTING 122,090,734
PERSON WITH
--------- ------------------------------------------------
9 SOLE DISPOSITIVE POWER
-0-
--------- ------------------------------------------------
10 SHARED DISPOSITIVE POWER
122,090,734
- ----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
122,090,734
- ----------- --------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
- ----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
79.72%
- ----------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- ----------- --------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION
<PAGE>
SCHEDULE 13D
- ------------------ ------------------
CUSIP No. 00253A 2 Page 3 of 19 Pages
- ------------------ ------------------
- ----------- --------------------------------------------------------------------
1 NAME OF REPORT PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Capital Z Financial Services Fund II, 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 PROCEEDING IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
- ----------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Bermuda
- --------------------- --------- ------------------------------------------------
7 SOLE VOTING POWER
-0-
--------- ------------------------------------------------
NUMBER OF SHARES 8 SHARED VOTING POWER
BENEFICIALLY OWNED
BY EACH REPORTING 122,090,734(1)
PERSON WITH
--------- ------------------------------------------------
9 SOLE DISPOSITIVE POWER
-0-
--------- ------------------------------------------------
10 SHARED DISPOSITIVE POWER
122,090,734(1)
- ----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
122,090,734
- ----------- --------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
- ----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
79.72%
- ----------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- ----------- --------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
1(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
- ----------
(1) Solely in its capacity as a general partner of Specialty Finance Partners.
<PAGE>
SCHEDULE 13D
- ------------------ ------------------
CUSIP No. 00253A 2 Page 4 of 19 Pages
- ------------------ ------------------
- ----------- --------------------------------------------------------------------
1 NAME OF REPORT PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Capital Z Financial Services Private Fund II, 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 PROCEEDING IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
- ----------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Bermuda
- --------------------- --------- ------------------------------------------------
7 SOLE VOTING POWER
-0-
--------- ------------------------------------------------
NUMBER OF SHARES 8 SHARED VOTING POWER
BENEFICIALLY OWNED
BY EACH REPORTING 122,090,734(2)
PERSON WITH
--------- ------------------------------------------------
9 SOLE DISPOSITIVE POWER
-0-
--------- ------------------------------------------------
10 SHARED DISPOSITIVE POWER
122,090,734(2)
- ----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
122,090,734
- ----------- --------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
- ----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
79.72%
- ----------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- ----------- --------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
1(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
- ----------
(2) Solely in its capacity as a general partner of Specialty Finance Partners.
<PAGE>
SCHEDULE 13D
- ------------------ ------------------
CUSIP No. 00253A 2 Page 5 of 19 Pages
- ------------------ ------------------
- ----------- --------------------------------------------------------------------
1 NAME OF REPORT PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Equifin Capital Partners, Ltd.
- ----------- --------------------------------------------------------------------
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 PROCEEDING IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
- ----------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
- --------------------- --------- ------------------------------------------------
7 SOLE VOTING POWER
-0-
--------- ------------------------------------------------
NUMBER OF SHARES 8 SHARED VOTING POWER
BENEFICIALLY OWNED
BY EACH REPORTING 122,090,734(3)
PERSON WITH
--------- ------------------------------------------------
9 SOLE DISPOSITIVE POWER
-0-
--------- ------------------------------------------------
10 SHARED DISPOSITIVE POWER
122,090,734(3)
- ----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
122,090,734
- ----------- --------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
- ----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
79.72%
- ----------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- ----------- --------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
1(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
- ----------
(3) Solely in its capacity as a general partner of Specialty Finance Partners.
<PAGE>
SCHEDULE 13D
- ------------------ ------------------
CUSIP No. 00253A 2 Page 6 of 19 Pages
- ------------------ ------------------
- ----------- --------------------------------------------------------------------
1 NAME OF REPORT PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Capital Z 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*
Not Applicable
- ----------- --------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
- ----------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Bermuda
- --------------------- --------- ------------------------------------------------
7 SOLE VOTING POWER
-0-
--------- ------------------------------------------------
NUMBER OF SHARES 8 SHARED VOTING POWER
BENEFICIALLY OWNED
BY EACH REPORTING 122,090,734(4)
PERSON WITH
--------- ------------------------------------------------
9 SOLE DISPOSITIVE POWER
-0-
--------- ------------------------------------------------
10 SHARED DISPOSITIVE POWER
122,090,734(4)
- ----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
122,090,734
- ----------- --------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
- ----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
79.72%
- ----------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- ----------- --------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION
- ----------
(4) Solely in its capacity as the sole general partner of Capital Z Financial
Services Fund II, L.P. and Capital Z Financial Services Private Fund II,
L.P.
<PAGE>
SCHEDULE 13D
- ------------------ ------------------
CUSIP No. 00253A 2 Page 7 of 19 Pages
- ------------------ ------------------
- ----------- --------------------------------------------------------------------
1 NAME OF REPORT PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Capital Z Partners, Ltd.
- ----------- --------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [X]
- ----------- --------------------------------------------------------------------
3 SEC USE ONLY
- ----------- --------------------------------------------------------------------
4 SOURCE OF FUNDS*
Not Applicable
- ----------- --------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
- ----------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Bermuda
- --------------------- --------- ------------------------------------------------
7 SOLE VOTING POWER
-0-
--------- ------------------------------------------------
NUMBER OF SHARES 8 SHARED VOTING POWER
BENEFICIALLY OWNED
BY EACH REPORTING 122,090,734(5)
PERSON WITH
--------- ------------------------------------------------
9 SOLE DISPOSITIVE POWER
-0-
--------- ------------------------------------------------
10 SHARED DISPOSITIVE POWER
122,090,734(5)
- ----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
122,090,734
- ----------- --------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
- ----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
79.72%
- ----------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- ----------- --------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION
- ----------
(5) Solely in its capacity as the sole general partner of Capital Z Partners,
L.P., which is the sole general partner of Capital Z Financial Services
Fund II, L.P. and Capital Z Financial Services Private Fund II, L.P.
<PAGE>
SCHEDULE 13D
- ------------------ ------------------
CUSIP No. 00253A 2 Page 8 of 19 Pages
- ------------------ ------------------
- ----------- --------------------------------------------------------------------
1 NAME OF REPORT PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Capital Z Management, LLC
- ----------- --------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [X]
- ----------- --------------------------------------------------------------------
3 SEC USE ONLY
- ----------- --------------------------------------------------------------------
4 SOURCE OF FUNDS*
Not Applicable
- ----------- --------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
- ----------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------- --------- ------------------------------------------------
7 SOLE VOTING POWER
1,250,000
--------- ------------------------------------------------
NUMBER OF SHARES 8 SHARED VOTING POWER
BENEFICIALLY OWNED
BY EACH REPORTING -0-
PERSON WITH
--------- ------------------------------------------------
9 SOLE DISPOSITIVE POWER
1,250,000
--------- ------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
- ----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
1,250,000
- ----------- --------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
- ----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.9%
- ----------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO
- ----------- --------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION
<PAGE>
This Amendment No. 3 to Schedule 13D with respect to Aames Financial
Corporation is being filed by Capital Z Financial Services Fund II, L.P.,
Capital Z Partners, L.P., Capital Z Partners, Ltd., Capital Z Management, LLC,
Specialty Finance Partners, Capital Z Financial Services Private Fund II, L.P.,
and Equifin Capital Partners, Ltd. (collectively, the "Reporting Persons") to
amend the Schedule 13D (the "Schedule 13D") originally filed by certain of the
Reporting Persons on December 23, 1998, as amended February 19, 1999 and August
11, 1999. Capitalized terms used but not defined herein have the meanings
assigned to such terms in the Schedule 13D.
Item 3. Source and Amount of Funds or Other Consideration.
Item 3 of Schedule 13D is hereby amended by adding the before the last
paragraph thereof:
All purchases of Preferred Stock of the Company (as defined in Item 4)
pursuant to the Preferred Stock Purchase Agreement, as amended, as described
more fully in Item 4 below were made with funds representing capital
contributions from Capital Z, Cap Z Private Fund and Equifin.
Item 4. Purpose of Transaction.
Item 4 of Schedule 13D is hereby amended by adding before the last
paragraph thereof the following:
On September 24, 1999 the Recapitalization was consummated pursuant to
which all of the outstanding shares of Series B Convertible Preferred Stock and
Series C Convertible Preferred
Page 9 of 19
<PAGE>
Stock of the Company (the "Preferred Stock") were split 1,000-for-1.
On September 10, 1999 the Rights Offering was consummated. On October 27,
1999, pursuant to its standby commitment with respect to the Rights Offering,
SFP purchased 20,840,734 shares of Series C Preferred Stock of the Company for
$1.00 per share (the "Standby Commitment Purchase").
As a result of the completion of these transactions, SFP holds Preferred
Stock representing 79.72% of the combined voting power of the Company (including
1,250,000 shares relating to the Warrant).
Item 5. Interest in Securities of the Issuer.
Item 5(a) and (b) of Schedule 13D is hereby amended and restated in its
entirety by substituting the following in lieu thereof:
(a) SFP
As a result of the Recapitalization and the Standby Commitment Purchase,
SFP has the right to acquire pursuant to Rule 13d-3 of the Exchange Act, and may
be deemed to be the beneficial owner of, 122,090,734 shares of Common Stock,
which, based on calculations made in accordance with Rule 13d-3(d) of the
Exchange Act and there being 31,063,820 shares of Common Stock outstanding (as
represented by the Company to the Reporting
Page 10 of 19
<PAGE>
Persons plus the 1,250,000 shares relating to the Warrant), represents
approximately 79.72% of the outstanding shares of Common Stock (assuming
conversion of all of the shares of Preferred Stock).
CAPITAL Z
In its capacity as a general partner of SFP, Capital Z may, pursuant to
Rule 13d-3 of the Exchange Act, be deemed to be the beneficial owner of
122,090,734 shares of Common Stock, which, based on calculations made in
accordance with Rule 13d-3(d) of the Exchange Act and there being 31,063,820
shares of Common Stock outstanding (as represented by the Company to the
Reporting Persons plus the 1,250,000 shares relating to the Warrant), represents
approximately 79.72% of the outstanding shares of Common Stock(assuming
conversion of all of the shares of Preferred Stock).
CAPITAL Z PRIVATE FUND
In its capacity as a general partner of SFP, Capital Z Private Fund may,
pursuant to Rule 13d-3 of the Exchange Act, be deemed to be the beneficial owner
of 122,090,734 shares of Common Stock, which, based on calculations made in
accordance with Rule 13d-3(d) of the Exchange Act and there being 31,063,820
shares of Common Stock outstanding (as represented by the Company to the
Reporting Persons plus the 1,250,000 shares relating to the Warrant), represents
approximately 79.72% of the outstanding shares of Common Stock(assuming
conversion of all of the shares of Preferred Stock).
Page 11 of 19
<PAGE>
EQUIFIN
In its capacity as a general partner of SFP, Equifin may, pursuant to Rule
13d-3 of the Exchange Act, be deemed to be the beneficial owner of 122,090,734
shares of Common Stock, which, based on calculations made in accordance with
Rule 13d-3(d) of the Exchange Act and there being 31,063,820 shares of Common
Stock outstanding as represented by the Company to the Reporting Persons plus
the 1,250,000 shares relating to the Warrant), represents approximately 79.72%
of the outstanding shares of Common Stock(assuming conversion of all of the
shares of Preferred Stock).
Page 12 of 19
<PAGE>
CAP Z L.P.
In its capacity as the sole general partner of Capital Z and Capital Z
Private Fund, Cap Z L.P. may, pursuant to Rule 13d-3 of the Exchange Act, be
deemed to be the beneficial owner of 122,090,734 shares of Common Stock, which,
based on calculations made in accordance with Rule 13d-3(d) of the Exchange Act
and there being 31,063,820 shares of Common Stock outstanding (as represented by
the Company to the Reporting Persons plus the 1,250,000 shares relating to the
Warrant), represents approximately 79.72% of the outstanding shares of Common
Stock(assuming conversion of all of the shares of Preferred Stock).
CAP Z LTD.
In its capacity as the sole general partner of Cap Z L.P., which is the
general partner of Capital Z and Capital Z Private Fund, Cap Z Ltd. may,
pursuant to Rule 13d-3 of the Exchange Act, be deemed to be the beneficial owner
of 122,090,734 shares of Common Stock, which, based on calculations made in
accordance with Rule 13d-3(d) of the Exchange Act and there being 31,063,820
shares of Common Stock outstanding (as represented by the Company to the
Reporting Persons plus the 1,250,000 shares relating to the Warrant), represents
approximately 79.72% of the outstanding shares of Common Stock(assuming
conversion of all of the shares of Preferred Stock).
Page 13 of 19
<PAGE>
CAP Z MANAGEMENT
Capital Z Management may, pursuant to Rule 13d-3 of the Exchange Act, be
deemed to be the beneficial owner of 1,250,000 shares of Common Stock, which
based on calculations made in accordance with Rule 13d-3(d) of the Exchange Act
and there being 31,063,820 shares of Common Stock outstanding (as represented by
the Company to the Reporting Persons plus the 1,250,000 shares relating to the
Warrant), represents approximately 0.008% of the outstanding shares of Common
Stock(assuming conversion of all of the shares of Preferred Stock).
(b)
SFP
1. Sole power to vote or to direct -0-
the vote
2. Shared power to vote or to direct 122,090,734
the vote
3. Sole power to dispose or to direct -0-
the disposition
4. Shared power to dispose of or to 122,090,734
direct the disposition
CAPITAL Z
1. Sole power to vote or to direct -0-
the vote
2. Shared power to vote or to direct 122,090,734
the vote
3. Sole power to dispose or to direct -0-
the disposition
4. Shared power to dispose of or to 122,090,734
direct the disposition
Page 14 of 19
<PAGE>
CAP Z PRIVATE FUND
1. Sole power to vote or to direct -0-
the vote
2. Shared power to vote or to direct 122,090,734
the vote
3. Sole power to dispose or to direct -0-
the disposition
4. Shared power to dispose of or to 122,090,734
direct the disposition
EQUIFIN
1. Sole power to vote or to direct -0-
the vote
2. Shared power to vote or to direct 122,090,734
the vote
3. Sole power to dispose or to direct -0-
the disposition
4. Shared power to dispose of or to 122,090,734
direct the disposition
CAP Z L.P.
1. Sole power to vote or to direct -0-
the vote
2. Shared power to vote or to direct 122,090,734
the vote
3. Sole power to dispose or to direct -0-
the disposition
4. Shared power to dispose of or to 122,090,734
direct the disposition
Page 15 of 19
<PAGE>
CAP Z LTD.
1. Sole power to vote or to direct -0-
the vote
2. Shared power to vote or to direct 122,090,734
the vote
3. Sole power to dispose or to direct -0-
the disposition
4. Shared power to dispose of or to 122,090,734
direct the disposition
CAP Z MANAGEMENT
1. Sole power to vote or to direct -0-
the vote
2. Shared power to vote or to direct 122,090,734
the vote
3. Sole power to dispose or to direct -0-
the disposition
4. Shared power to dispose of or to 122,090,734
direct the disposition
Item 7. Material to be Filed as Exhibits.
None.
Page 16 of 19
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of its knowledge and belief, the
undersigned certifies that the information set forth in this statement is true,
complete and correct.
Dated: April 12, 2000
CAPITAL Z FINANCIAL SERVICES
FUND II, L.P., a Bermuda limited partnership
By: Capital Z Partners, L.P., its General Partner
By: Capital Z Partners, Ltd., its General Partner
By: /s/ David A. Spuria
------------------------------
Name: David A. Spuria
Title: General Counsel
CAPITAL Z PARTNERS, L.P.,
a Bermuda limited partnership
By: Capital Z Partners, Ltd., its General Partner
By: /s/ David A. Spuria
------------------------------
Name: David A. Spuria
Title: General Counsel
CAPITAL Z PARTNERS, LTD.,
a Bermuda corporation
By: /s/ David A. Spuria
------------------------------
Name: David A. Spuria
Title: General Counsel
CAPITAL Z MANAGEMENT, LLC,
a Delaware limited liability company
By: /s/ David A. Spuria
------------------------------
Name: David A. Spuria
Title: General Counsel
Page 17 of 19
<PAGE>
SPECIALTY FINANCE PARTNERS,
a Bermuda general partnership
By: Capital Z Financial Services Fund II, L.P.,
its General Partner
By: Capital Z Partners, L.P., its General Partner
By: Capital Z Partners, Ltd., its General Partner
By: /s/ David A. Spuria
------------------------------
Name: David A. Spuria
Title: General Counsel
CAPITAL Z FINANCIAL SERVICES PRIVATE FUND II, L.P.,
a Bermuda limited partnership
By: Capital Z Partners, L.P., its General Partner
By: Capital Z Partners, Ltd., its General Partner
By: /s/ David A. Spuria
------------------------------
Name: David A. Spuria
Title: General Counsel
EQUIFIN CAPITAL PARTNERS, LTD.,
a Cayman Islands corporation
By: /s/ Mani A. Sadeghi
------------------------------
Name: Mani A. Sadeghi
Title: President, Chief Executive
Officer and Director
Page 18 of 19
