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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
AMENDMENT NO. 1
TO
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934*
EXPRESS AMERICA HOLDINGS CORPORATION
(formerly First Western Corporation)
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(NAME OF ISSUER)
Common Stock, $.01 par value
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(TITLE OF CLASS OF SECURITIES)
302174107
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(CUSIP NUMBER)
John M. Holliman, III
6155 North Scottsdale Road, Suite 100
Scottsdale, Arizona 85250
(602) 661-6600
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(NAME, ADDRESS AND TELEPHONE NUMBER OF PERSON
AUTHORIZED TO RECEIVE NOTICES AND COMMUNICATIONS)
September 27, 1996
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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 | |.
Check the following box if a fee is being paid with this statement | |. (A fee
is not required only if the filing person: (1) has a previous statement on file
reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of less than five percent of such class.
See Rule 13d-7.)
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 the
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).
Page 1 of 8 Pages
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CUSIP NO. 302174 10 7
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13D
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1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Arizona Growth Partners, L.P.; EIN #86-0726395
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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
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5. CHECK BOX 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
Delaware, United States
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NUMBER OF 7. SOLE VOTING POWER
SHARES
BENEFICIALLY 308,778
OWNED BY --------------------------------------------
EACH 8. SHARED VOTING POWER
REPORTING
PERSON 0
WITH --------------------------------------------
9. SOLE DISPOSITIVE POWER
308,778
--------------------------------------------
10. SHARED DISPOSITIVE POWER
0
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
308,778
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12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES / /
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.00%
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14. TYPE OF REPORTING PERSON
PN
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Page 2 of 8 Pages
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CUSIP NO. 302174 10 7
13D
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1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
AGP Management, L.P.; EIN #86-0726397
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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
AF
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5. CHECK BOX 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
Delaware, United States
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NUMBER OF 7. SOLE VOTING POWER
SHARES
BENEFICIALLY 308,778
OWNED BY --------------------------------------------
EACH 8. SHARED VOTING POWER
REPORTING
PERSON 0
WITH --------------------------------------------
9. SOLE DISPOSITIVE POWER
308,778
--------------------------------------------
10. SHARED DISPOSITIVE POWER
0
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
308,778
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12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES / /
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.00%
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14. TYPE OF REPORTING PERSON
PN
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Page 3 of 8 Pages
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CUSIP NO. 302174 10 7
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13D
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1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
John M. Holliman, III; SSN ###-##-####
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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
AF
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5. CHECK BOX 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
Delaware, United States
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NUMBER OF 7. SOLE VOTING POWER
SHARES
BENEFICIALLY 308,778
OWNED BY ---------------------------------
EACH 8. SHARED VOTING POWER
REPORTING
PERSON 0
WITH ---------------------------------
9. SOLE DISPOSITIVE POWER
308,778
---------------------------------
10. SHARED DISPOSITIVE POWER
0
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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
308,778
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12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES / /
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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
8.00%
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14. TYPE OF REPORTING PERSON
IN
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Page 4 of 8 Pages
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ITEM 1. SECURITY AND ISSUER.
This Schedule 13D relates to shares of common stock, $.01 par value
(the "Common Stock") of Express America Holdings Corp., a Delaware corporation
("EXAM"), formerly First Western Corporation, whose executive offices are
located at 9060 East Via Linda Street, Scottsdale, Arizona 85258.
ITEM 2. IDENTITY AND BACKGROUND.
This Schedule 13D is filed on behalf of Arizona Growth Partners, L.P.,
a Delaware limited partnership ("AGP"), AGP Management, L.P., a Delaware limited
partnership ("AGP Management"), and John M. Holliman III. Pursuant to
Instruction C to Schedule 13D, the following sets forth the required
information regarding the reporting persons:
Name: Arizona Growth Partners, L.P.
State of Organization: Delaware
Principal Business: Venture capital investments
Address of Principal
Business and Office: 6155 N. Scottsdale Rd., Suite 100
Scottsdale, Arizona 85250
Name: AGP Management, L.P.
State of Organization: Delaware
Principal Business: Management of private venture
capital funds
Address of Principal
Business and Office; 6155 N. Scottsdale Rd., Suite 100
Scottsdale, Arizona 85250
Name: John M. Holliman, III
Principal Occupation: General partner, AGP Management, L.P.
(a manager of private venture capital
funds) and an investment manager.
Mr. Holliman is also a director of EXAM.
Business Address: 6155 N. Scottsdale Rd., Suite 100
Scottsdale, Arizona 85250
Citizenship: United States
During the last five years, the persons mentioned above have not
(i) been convicted in a criminal proceeding, or (ii) been a party to a civil
proceeding of a judicial or administrative body of competent jurisdiction and
as a result of such proceeding been subject to a judgment, decree, or final
order enjoining future violations of, or prohibiting or mandating activities
subject to, federal or state securities laws, or finding any violations with
respect to such laws.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
AGP initially used $2,741,536 of its working capital to purchase the
268,278 shares of Common Stock of EXAM on February 25, 1993. Because the shares
of Common Stock acquired were restricted securities, the purchase
Page 5 of 8 Pages
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price was less than the market price for publicly traded EXAM Common Stock on
the date the parties determined the purchase price. Between December 22, 1994
and January 5, 1996, AGP purchased an additional 40,000 shares of Common Stock
of EXAM at the market price using working capital funds.
On September 27, 1996, EXAM repurchased 1,017,730 shares of its common
stock, thereby increasing the percentage of the shares owned by AGP.
ITEM 4. PURPOSE OF TRANSACTION.
The purpose of the acquisition of the Common Stock of EXAM is for
investment only. Neither AGP, AGP Management, or Mr. Holliman have any present
intention of engaging in any transaction described in Item 4 of Schedule 13D.
The transaction for which this Amendment No. 1 to Schedule 13D is being filed
involved EXAM's repurchase of its own shares and did not involve an acquisition
or disposition of shares by AGP.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
The information set forth below relates to the beneficial ownership by
the reporting persons of the Common Stock of EXAM.
AGP
- ---
(i) Aggregate number of shares: 308,778
(ii) Percentage of class: 8.00%
(iii) Sole voting power: 308,778
(iv) Shared voting power: 0
(v) Sole dispositive power: 308,778
(vi) Shared dispositive power: 0
AGP Management
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(i) Aggregate number of shares: 308,778
(ii) Percentage of class: 8.00%
(iii) Sole voting power: 308,778
(iv) Shared voting power: 0
(v) Sole dispositive power: 308,778
(vi) Shared dispositive power: 0
John M. Holliman, III
- ---------------------
(i) Aggregate number of shares: 308,778
(ii) Percentage of class: 8.00%
(iii) Sole voting power: 308,278
(iv) Shared voting power: 0
(v) Sole dispositive power: 308,278
(vi) Shared dispositive power: 0
Page 6 of 8 Pages
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Pursuant to an Asset Purchase Agreement between AGP and Valley National
Investors, Inc., an Arizona corporation, dated February 23, 1993, AGP purchased
268,778 shares of Common Stock of EXAM. The purchase price in the transaction
was $2,741,536.
On the following dates, AGP purchased shares of EXAM in the following
amounts at the market price: December 22, 1994 (5,000); December 27, 1994
(6,000); December 29, 1994 (5,000); December 30, 1994 (7,000); November 3, 1995
(4,000); January 4, 1996 (3,000); and January 5, 1996 (10,000).
None of the persons identified in Item 2 has effected any transactions
in the Common Stock of EXAM during the last sixty days.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS, OR RELATIONSHIPS WITH
RESPECT TO SECURITIES OF THE ISSUER.
Not applicable.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
Written agreement relating to filing of a joint statement (previously
filed).
Page 7 of 8 Pages
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SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this Amendment No. 1 to Schedule 13D
is true, complete, and correct.
ARIZONA GROWTH PARTNERS, L.P.
By: AGP Management, L.P.
Its: General partner
By: /s/ John M. Holliman, III
--------------------------
John M. Holliman, III
Its: General Partner
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Date: December 9, 1996
AGP MANAGEMENT, L.P.
By: /s/ John M. Holliman, III
--------------------------
John M. Holliman, III
Its: General Partner
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Date: December 9, 1996
By: /s/ John M. Holliman, III
--------------------------
John M. Holliman, III
Date: December 9, 1996
Page 8 of 8 Pages
