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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. )*
ACRODYNE COMMUNICATIONS, INC.
(Name of Issuer)
COMMON STOCK, PAR VALUE $0.01 PER SHARE
(Title of Class of Securities)
00500E 10 4
(CUSIP Number)
Robert F. Raucci, Newlight Management, LLC, 505 Park Avenue, NY, NY 10022
(212) 935-3999
(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
NOVEMBER 7, 1997
(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 [ ].
Page 1 of 6 Pages
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SCHEDULE 13D
CUSIP NO. 00500E10 4 PAGE 2 OF 6 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Newlight Associates, L.P.
13-3965176
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or 2(e) [ ]
Not Applicable
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF SHARES
BENEFICIALLY Not Applicable
OWNED BY EACH
REPORTING PERSON
WITH
-------------------------------------------------------------
8 SHARED VOTING POWER
495,000 shares of Common Stock (includes Warrants to
purchase 135,000 shares of Common Stock)
-------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
Not Applicable
-------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
495,000 shares of Common Stock (includes Warrants to
purchase 135,000 shares of Common Stock)
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
495,000 shares of Common Stock (includes Warrants to purchase 135,000
shares of Common Stock)
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
Not Applicable
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.3% (includes Warrants to purchase 135,000 shares of Common Stock)
- --------------------------------------------------------------------------------
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 2 of 6 Pages
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SCHEDULE 13D
CUSIP NO. 00500E10 4 PAGE 3 OF 6 PAGES
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Newlight Associates (BVI), L.P.
98-0173563
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) or 2(e) [ ]
Not Applicable
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
British Virgin Islands
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF SHARES
BENEFICIALLY Not Applicable
OWNED BY EACH
REPORTING PERSON
WITH
-------------------------------------------------------------
8 SHARED VOTING POWER
495,000 shares of Common Stock (includes Warrants to
purchase 135,000 shares of Common Stock)
-------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
Not Applicable
-------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
495,000 shares of Common Stock (includes Warrants to
purchase 135,000 shares of Common Stock)
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
495,000 shares of Common Stock (includes Warrants to purchase 135,000
shares of Common Stock)
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
Not Applicable
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.3% (includes Warrants to purchase 135,000 shares of Common Stock)
- --------------------------------------------------------------------------------
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 3 of 6 Pages
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ITEM 1. SECURITY AND ISSUER
Common Stock, par value $0.01 per share
Acrodyne Communications, Inc.
516 Township Line Road
Blue Bell, PA 19422
ITEM 2. IDENTITY AND BACKGROUND
Newlight Associates, L.P., a Delaware limited partnership Newlight
Associates (BVI), L.P., a British Virgin Islands limited partnership
c/o Newlight Management, LLC
505 Park Avenue
New York, New York 10022
The principal business of Newlight Associates, L.P., and Newlight
Associates (BVI), L.P., is investing.
During the last five years, neither Newlight Associates, L.P., nor
Newlight Associates (BVI), L.P., was convicted in a criminal
proceeding (excluding traffic violations or similar misdemeanors),
has been a party to a civil proceeding of a judicial or
administrative body of competent jurisdiction and as a result of
such proceeding was or is 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 violation with respect to such laws.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
The amount of funds used in making the purchases was $900,000. The
source of such funds was working capital. No portion of these funds
was borrowed.
ITEM 4. PURPOSE OF TRANSACTION
Newlight Associates, L.P., and Newlight Associates (BVI), L.P.,
acquired the shares of Common Stock for investment purposes only and
do not have any plans or proposals that relate to or would result in
any of the actions enumerated in Item 4 of Schedule 13D under the
Act. Notwithstanding the foregoing, Newlight Associates, L.P., and
Newlight Associates (BVI), L.P., may, based on continuing review of
their investments in the Common Stock, acquire additional shares of
Common Stock or dispose of shares of Common Stock and/or otherwise
modify or change their intentions.
ITEM 5. INTEREST IN SECURITIES OR THE ISSUER
Newlight Associates, L.P., and Newlight Associates (BVI), L.P., own
360,000 shares of Common Stock, par value $0.01 per share, of
Acrodyne Communications, Inc., which represents 6.8% of the Class.
Newlight Associates, L.P., and Newlight Associates (BVI), L.P., also
own Warrants to purchase 135,000 shares of Common Stock. If such
Warrants were exercised, Newlight Associates, L.P., and Newlight
Associates (BVI), L.P., would own a total of
Page 4 of 6 Pages
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495,000 shares of Common Stock, which represents 9.3% of the Class.
Newlight Associates, L.P., and Newlight Associates (BVI), L.P., have
shared power to direct the vote and shared power to direct the
disposition of such shares. The shares of Common Stock and Warrants
were acquired directly from the issuer.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH
RESPECT TO SECURITIES OF THE ISSUER
NONE.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
Joint Filing Agreement, dated December 22, 1997 between Newlight
Associates, L.P., and Newlight Associates (BVI), L.P., relating to
the filing of this Schedule 13D, and any amendments thereto, as
required by Rule 13d-1(f).
SIGNATURE
After reasonable 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.
NEWLIGHT ASSOCIATES, L.P.
By: NEWLIGHT PARTNERS, LLC.,
General Partner
By: /s/ Robert F. Raucci
---------------------------------
Name: Robert F. Raucci
Date: December 22, 1997
NEWLIGHT ASSOCIATES (BVI), L.P.
By: NEWLIGHT PARTNERS, LTD.,
General Partner
By: /s/ Robert F. Raucci
---------------------------------
Name: Robert F. Raucci
Date: December 22, 1997
Page 5 of 6 Pages
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EXHIBIT A
JOINT FILING AGREEMENT
The undersigned parties hereby agree that the Schedule 13D filed
herewith (and any amendments thereto) is being filed jointly with the Securities
and Exchange Commission pursuant to Section 13d-1(f) on behalf of each such
person.
Dated: December 22, 1997
NEWLIGHT ASSOCIATES, L.P.
By: NEWLIGHT PARTNERS, LLC,
General Partner
By: /s/ Robert F. Raucci
---------------------------------
Name: Robert F. Raucci
NEWLIGHT ASSOCIATES, (BVI), L.P.
By: NEWLIGHT PARTNERS, LTD.,
General Partner
By: /s/ Robert F. Raucci
---------------------------------
Name: Robert F. Raucci
Page 6 of 6 Pages
