<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 4)*
------------------
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)
June 7, 2000
--------------------------------------------------------------------------------
(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 17 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 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 70,218,146
OWNED BY EACH
REPORTING --------- ------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
-0-
--------- ------------------------------------------------
10 SHARED DISPOSITIVE POWER
70,218,146
----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
70,218,146
----------- --------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
90.25%
----------- --------------------------------------------------------------------
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 17 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 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 70,218,146(1)
OWNED BY EACH
REPORTING --------- ------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
-0-
--------- ------------------------------------------------
10 SHARED DISPOSITIVE POWER
70,218,146(1)
----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
70,218,146
----------- --------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
90.25%
----------- --------------------------------------------------------------------
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
----------
(1) Solely in its capacity as a general partner of Specialty Finance Partners.
<PAGE>
SCHEDULE 13D
------------------ ------------------
CUSIP No. 00253A 2 Page 4 of 17 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 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 70,218,146(2)
OWNED BY EACH
REPORTING --------- ------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
-0-
--------- ------------------------------------------------
10 SHARED DISPOSITIVE POWER
70,218,146(2)
----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
70,218,146
----------- --------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
90.25%
----------- --------------------------------------------------------------------
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
----------
(2) Solely in its capacity as a general partner of Specialty Finance Partners.
<PAGE>
SCHEDULE 13D
------------------ ------------------
CUSIP No. 00253A 2 Page 5 of 17 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 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 70,218,146(3)
OWNED BY EACH
REPORTING --------- ------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
-0-
--------- ------------------------------------------------
10 SHARED DISPOSITIVE POWER
70,218,146(3)
----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
70,218,146
----------- --------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
90.25%
----------- --------------------------------------------------------------------
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
----------
(3) Solely in its capacity as a general partner of Specialty Finance Partners.
<PAGE>
SCHEDULE 13D
------------------ ------------------
CUSIP No. 00253A 2 Page 6 of 17 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 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 70,218,146(4)
OWNED BY EACH
REPORTING --------- ------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
-0-
--------- ------------------------------------------------
10 SHARED DISPOSITIVE POWER
70,218,146(4)
----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
70,218,146
----------- --------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
90.25%
----------- --------------------------------------------------------------------
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 17 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 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 70,218,146(5)
OWNED BY EACH
REPORTING --------- ------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
-0-
--------- ------------------------------------------------
10 SHARED DISPOSITIVE POWER
70,248,146(5)
----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
70,248,146
----------- --------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
90.25%
----------- --------------------------------------------------------------------
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
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CUSIP No. 00253A 2 Page 8 of 17 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
250,000
--------- ------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY -0-
OWNED BY EACH
REPORTING --------- ------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
250,000
--------- ------------------------------------------------
10 SHARED DISPOSITIVE POWER
-0-
----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
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)
3.2%
----------- --------------------------------------------------------------------
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. 4 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, August 11,
1999, and April 12, 2000. Capitalized terms used but not defined herein have the
meanings assigned to such terms in the Schedule 13D.
Item 4. Purpose of Transaction.
Item 4 of Schedule 13D is hereby amended by adding before the final paragraph of
such item the following:
On June 7, 2000, SFP purchased an additional 40,800,000 shares (the
"Shares") of Series C Convertible Preferred Stock of the Company for the
equivalent of $0.85 per share pursuant to the Preferred Stock Purchase
Agreement, dated as of May 19, 2000, as amended as of May 25, 2000 by the Letter
Agreement, between the Company and SFP (the "Series C Purchase Agreement"). In
addition, in connection with such purchase, the Company issued to SFP warrants
to purchase up to 5,000,000 million shares of Series C Convertible Preferred
Stock at an exercise price of $0.85 per share (the "Series C Warrant"). Pursuant
to the Agreement, SFP has agreed to waive the anti-dilution adjustments that
would occur due to the issuance of Series C Convertible Preferred Stock.
Pursuant to the Series C Purchase Agreement, upon the expiration of all
applicable regulatory waiting periods, SFP intends to exchange each of the
Shares and any shares of Series
Page 9 of 17
<PAGE>
C Convertible Preferred Stock acquired upon exercise of the Series C Warrant for
one share of Series D Convertible Preferred Stock (the Series D Convertible
Preferred Stock has not yet been designated and will be in form substantially
similar to the Series C Convertible Preferred Stock) of the Company (the
"Additional Closing"). In addition, at the Additional Closing, SFP intends to
purchase an additional 18,023,529 shares of Series D Convertible Preferred
Stock. In connection with such purchase, the Series C Warrant will expire and
the Company will issue to SFP warrants to purchase 5,000,000 shares of Series D
Preferred Stock less the amount of shares purchased through exercise of the
Series C Warrant.
The number of shares of Common Stock deemed to be beneficially owned by SFP
has been adjusted to reflect the five-for-one reverse stock-split effected by
the Company on April 14, 2000 with respect to its Common Stock and Series C
Convertible Preferred Stock.
The foregoing descriptions of the Series C Purchase Agreement and the
Series C Warrant are qualified in their entirety by reference to the Series C
Purchase Agreement and the Series C Warrant, which are attached hereto as
Exhibits 1 and 2, and Exhibit 3, respectively, and are incorporated herein by
reference.
Item 5. Interest in Securities of the Issuer.
Item 5(a) and (b) of Schedule 13D are hereby amended and restated in its
entirety by substituting the following in lieu thereof:
(a) SFP
As a result of the Purchase Agreement, 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, 70,218,146 shares of Common Stock, which, based on
calculations made in accordance with Rule 13d-3(d) of the Exchange Act and there
being 77,800,113 shares of Common Stock outstanding (as represented
Page 10 of 17
<PAGE>
by the Company to the Reporting Persons plus the 250,000 shares relating to the
Warrant and 5,000,000 shares relating to the Series C Warrant), represents
approximately 90.25% 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
70,218,146 shares of Common Stock, which, based on calculations made in
accordance with Rule 13d-3(d) of the Exchange Act and there being 77,800,113
shares of Common Stock outstanding (as represented by the Company to the
Reporting Persons plus the 250,000 shares relating to the Warrant and the
5,000,000 shares relating to the Series C Warrant), represents approximately
90.25% 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 70,218,146 shares of Common Stock, which, based on calculations made in
accordance with Rule 13d-3(d) of the Exchange Act and there being 77,800,113
shares of Common Stock outstanding (as represented by the Company to the
Reporting Persons plus the 250,000 shares relating to the Warrant and the
5,000,000 shares relating to the Series C Warrant), represents approximately
90.25% of the outstanding shares of Common Stock(assuming conversion of all of
the shares of Preferred Stock).
Page 11 of 17
<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 70,218,146
shares of Common Stock, which, based on calculations made in accordance with
Rule 13d-3(d) of the Exchange Act and there being 77,800,113 shares of Common
Stock outstanding as represented by the Company to the Reporting Persons plus
the 250,000 shares relating to the Warrant and the 5,000,000 shares relating to
the Series C Warrant), represents approximately 90.25% of the outstanding shares
of Common Stock(assuming conversion of all of the shares of Preferred Stock).
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 70,218,146 shares of Common Stock, which,
based on calculations made in accordance with Rule 13d-3(d) of the Exchange Act
and there being 77,800,113 shares of Common Stock outstanding (as represented by
the Company to the Reporting Persons plus the 250,000 shares relating to the
Warrant and the 5,000,000 shares relating to the Series C Warrant), represents
approximately 90.25% 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 70,218,146 shares of Common Stock, which, based on calculations made in
accordance with Rule 13d-3(d) of the Exchange Act and
Page 12 of 17
<PAGE>
there being 77,800,113 shares of Common Stock outstanding (as represented by the
Company to the Reporting Persons plus the 250,000 shares relating to the Warrant
and 5,000,000 shares relating to the Series C Warrant), represents approximately
90.25% of the outstanding shares of Common Stock(assuming conversion of all of
the shares of Preferred Stock).
CAP Z MANAGEMENT
Capital Z Management may, pursuant to Rule 13d-3 of the Exchange Act, be
deemed to be the beneficial owner of 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 77,800,113 shares of Common Stock outstanding, represents
approximately 3.2% 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 the vote -0-
2. Shared power to vote or to direct the vote 70,218,146
3. Sole power to dispose or to direct the disposition -0-
4. Shared power to dispose of or to direct the disposition 70,218,146
CAPITAL Z
1. Sole power to vote or to direct the vote -0-
2. Shared power to vote or to direct the vote 70,218,146
3. Sole power to dispose or to direct the disposition -0-
4. Shared power to dispose of or to direct the disposition 70,218,146
Page 13 of 17
<PAGE>
CAP Z PRIVATE FUND
1. Sole power to vote or to direct the vote -0-
2. Shared power to vote or to direct the vote 70,218,146
3. Sole power to dispose or to direct the disposition -0-
4. Shared power to dispose of or to direct the disposition 70,218,146
EQUIFIN
1. Sole power to vote or to direct the vote -0-
2. Shared power to vote or to direct the vote 70,218,146
3. Sole power to dispose or to direct the disposition -0-
4. Shared power to dispose of or to direct the disposition 70,218,146
CAP Z L.P.
1. Sole power to vote or to direct the vote -0-
2. Shared power to vote or to direct the vote 70,218,146
3. Sole power to dispose or to direct the disposition -0-
4. Shared power to dispose of or to direct the disposition 70,218,146
Page 14 of 17
<PAGE>
CAP Z LTD.
1. Sole power to vote or to direct the vote -0-
2. Shared power to vote or to direct the vote 70,218,146
3. Sole power to dispose or to direct the disposition -0-
4. Shared power to dispose of or to direct the disposition 70,218,146
CAP Z MANAGEMENT
1. Sole power to vote or to direct the vote 250,000
2. Shared power to vote or to direct the vote -0-
3. Sole power to dispose or to direct the disposition 250,000
4. Shared power to dispose of or to direct the disposition -0-
Item 7. Material to be Filed as Exhibits.
Item 7 of Schedule 13D is hereby amended by inserting the following at the end
thereof:
5. Preferred Stock Purchase Agreement, dated as of May 19, 2000, by and
between Aames Financial Corporation and Specialty Finance Partners.
6. Letter Agreement, dated as of May 25, 2000, by and between Aames Financial
Corporation and Specialty Finance Partners.
7. Form of Series C Warrant
Page 15 of 17
<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: June 30, 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 16 of 17
<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: Mani A. Sadeghi
------------------------------
Name: Mani A. Sadeghi
Title: President, Chief Executive
Officer and Director
Page 17 of 17
<PAGE>
EXHIBIT INDEX
Exhibit No. Title
----------- -----
99.7 Preferred Stock Purchase Agreement, dated as of May 19,
2000, by and between Aames Financial Corporation and
Specialty Finance Partners.
99.8 Letter Agreement, dated as of May 25, 2000, by and between
Aames Financial Corporation and Specialty Finance Partners.
99.8 Form of Series C Warrant.
