FORM 3
U.S. SECURITIES AND EXCHANGE COMMISSION x---------------------------x
WASHINGTON, D.C. 20549 | OMB APPROVAL |
INITIAL STATEMENT OF |---------------------------|
BENEFICIAL OWNERSHIP OF SECURITIES |OMB NUMBER: 3235-0104 |
|EXPIRES: DECEMBER 31, 2001 |
|ESTIMATED AVERAGE |
Filed pursuant to Section 16(a) of the |BURDEN HOURS PER |
Securities Exchange Act of 1934, |RESPONSE 0.5 |
Section 17(a) of the Public Utility x---------------------------x
Holding Company Act of 1935
Section 30(f) of the Investment
Company Act of 1940
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1. Name and Address of Reporting Person
Gold Irwin
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(Last) (First) (Middle)
685 Third Avenue, 15th Floor
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(Street)
New York NY 10017
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(City) (State) (Zip)
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2. Date of Event Requiring Statement (Month/Day/Year)
August 9, 2000
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3. IRS OR SOCIAL SECURITY NUMBER OF REPORTING PERSON (VOLUNTARY)
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4. Issuer Name and Ticker or Trading Symbol
WPI Group, Inc. (WPIC: OTC)
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5. RELATIONSHIP OF REPORTING PERSON(S) TO ISSUER (CHECK ALL APPLICABLE)
(X ) DIRECTOR
( ) 10% OWNER
( ) OFFICER (GIVE TITLE BELOW)
( ) OTHER (SPECIFY TITLE BELOW)
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6. IF AMENDMENT, DATE OF ORIGINAL (MONTH/DAY/YEAR)
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7. INDIVIDUAL OR JOINT/GROUP FILING (CHECK APPLICABLE LINE)
X FORM FILED BY ONE REPORTING PERSON
__ FORM FILED BY MORE THAN ONE REPORTING PERSON
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TABLE I - NON-DERIVATIVE SECURITIES BENEFICIALLY OWNED
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1.TITLE OF SECURITY 2. AMOUNT OF 3. OWNERSHIP 4. NATURE OF
(INSTR. 4) SECURITIES FORM DIRECT INDIRECT
BENEFICIALLY DIRECT (D) OR BENEFICIAL
OWNED INDIRECT (I) OWNERSHIP
(INSTR. 4) (INSTR. 5) (INSTR. 5)
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Common Stock 0 See Footnote (1)
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TABLE II - DERIVATIVE SECURITIES BENEFICIALLY OWNED
(E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
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1a. Title of Derivative Security (Instr. 4)
Common Stock Purchase Warrant
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1b. Date Exercisable and Expiration Date (Month/Day/Year)
8/9/00 8/9/05
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Date Exercisable Expiration Date
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1c. Title and Amount of Securities Underlying Derivative Security (Instr.
4)
Common Stock 0
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Title Amount of Number of Shares
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1d. Conversion or Exercise Price of Derivative Security
$1.75
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1e. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)
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1f. Nature of Indirect Beneficial Ownership (Instr. 5)
See Footnote (1)
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2a. Title of Derivative Security (Instr. 4)
Convertible Subordinated Note due 2003
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2b. Date Exercisable and Expiration Date (Month/Day/Year)
8/9/00 8/9/03
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Date Exercisable Expiration Date
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2c. Title and Amount of Securities Underlying Derivative Security (Instr.
4)
Common Stock 0
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Title Amount of Number of Shares
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2d. Conversion or Exercise Price of Derivative Security
$1.75
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2e. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)
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2f. Nature of Indirect Beneficial Ownership (Instr. 5)
See Footnote (1)
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EXPLANATION OF RESPONSES:
(1) Mr. Gold is a Principal of Sunrise Advisors, LLC, the general partner
of Sunrise Capital Partners, L.P., a Delaware limited partnership
("Sunrise"). Sunrise is the direct beneficial owner of 1,534,900
shares of Common Stock. Sunrise is also the direct beneficial owner
of derivative securities (in the form of Common Stock Purchase
Warrants and Convertible Subordinated Promissory Notes) which are
exercisable for, or convertible into, 7,980,044 shares of Common Stock
in the aggregate. Mr. Gold disclaims any pecuniary interest, direct
or indirect, in the shares beneficially owned by Sunrise for purposes
of Rule 16a-1 of the Exchange Act.
Dated: August 19, 2000 /s/ Irwin Gold
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Name: Irwin Gold
** SIGNATURE OF REPORTING PERSON
** 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
PROCEDURE
POTENTIAL PERSONS WHO ARE TO RESPOND TO THE COLLECTION OF INFORMATION
CONTAINED IN THIS FORM ARE NOT REQUIRED TO RESPOND UNLESS THE FORM
DISPLAYS A CURRENTLY VALID OMB NUMBER.
