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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. 1)*
BRIO INDUSTRIES, INC.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, no par value per share
- --------------------------------------------------------------------------------
(Title of Class of Securities)
10970E104
-----------------------------------------------------------
(CUSIP Number)
David J. Schwartz, Esq., c/o Anderson Kill & Olick, P.C.
1251 Avenue of the Americas, New York, New York 10020 (212) 278-1000
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
October 10, 1996
-----------------------------------------------------------
(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-I(b)(3) or (4), check the following box [ ].
Check the following box if a fee is being paid with the statement.[ ] (A fee is
not required only if the reporting 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 five percent or less 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
disclosures provided in a prior 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).
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SCHEDULE 13D
- ------------------------ -----------------------
CUSIP NO. 10970E104 PAGE 2 OF _______ PAGES
- ------------------------ -----------------------
<TABLE>
<C> <S> <C>
- -----------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Ernest P. Werlin
- -----------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
- -----------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
- -----------------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- -----------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OR ORGANIZATION
- -----------------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF ---------------------------------------------------------------------------------------------
SHARES
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 836,500(1)
REPORTING ---------------------------------------------------------------------------------------------
PERSON
WITH 9 SOLE DISPOSITIVE POWER
---------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
836,500(1)
- -----------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
- -----------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
- -----------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
- -----------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
- -----------------------------------------------------------------------------------------------------------------
</TABLE>
- --------
(1) Ernest P. Werlin disclaims beneficial ownership of all shares owned by
other persons.
<PAGE>
<PAGE>
SCHEDULE 13D
- ------------------------ -----------------------
CUSIP NO. 10970E104 PAGE 3 OF _______ PAGES
- ------------------------ -----------------------
<TABLE>
<C> <S> <C>
- -----------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
The High View Fund, L.P.
- -----------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
- -----------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
- -----------------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) |_|
- -----------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OR ORGANIZATION
- -----------------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 315,000(1)
SHARES
BENEFICIALLY -----------------------------------------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING 836,500(1)
PERSON
WITH -----------------------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
315,000(1)
-----------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
836,500(1)
- -------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
315,000(1)
- -----------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
- -----------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.73%
- -----------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
- -----------------------------------------------------------------------------------------------------------------
</TABLE>
- --------
(1) The High View Fund, L.P. disclaims beneficial ownership of all shares owned
by other persons.
<PAGE>
<PAGE>
SCHEDULE 13D
- ----------------------- ----------------------------
CUSIP NO. 10970E104 PAGE 4 OF _______ PAGES
- ----------------------- ----------------------------
<TABLE>
<S> <C> <C>
- -----------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
The High View Fund
- -----------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
- -----------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
- -----------------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- -----------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OR ORGANIZATION
- -----------------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 315,000(1)
SHARES
BENEFICIALLY -----------------------------------------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING 836,500(1)
PERSON
WITH -----------------------------------------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
315,000(1)
-----------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
836,500(1)
- -------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
315,000(1)
- -----------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
- -----------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.73%
- -----------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
- -----------------------------------------------------------------------------------------------------------------
</TABLE>
- --------
(1) The High View Fund disclaims beneficial ownership of all shares owned by
other persons.
<PAGE>
<PAGE>
SCHEDULE 13D
- ---------------------- -------------------------
CUSIP NO. 10970E104 PAGE 5 OF _______ PAGES
- ---------------------- -------------------------
<TABLE>
<S> <C> <C>
- -----------------------------------------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Andrew M. Brown
- -----------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
- -----------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
- -----------------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ]
- -----------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OR ORGANIZATION
- -----------------------------------------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
SHARES -----------------------------------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 836,500(1)
REPORTING
PERSON -----------------------------------------------------------------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
-----------------------------------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
836,500(1)
- -------------------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
- -----------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
- -----------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
- -----------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
- -----------------------------------------------------------------------------------------------------------------
</TABLE>
- --------
(1) Andrew M. Brown disclaims beneficial ownership of all shares owned by other
persons.
<PAGE>
<PAGE>
BRIO INDUSTRIES, INC.
(CUSIP No. 10970E104)
This Amendment relates to the Schedule 13D dated September 20,
1996 ("Original Schedule 13D") filed by The High View Fund ("Cayman Fund"), The
High View Fund, L.P. ("Delaware Fund"), Ernest P. Werlin and Andrew M. Brown
relating to the common stock, no par value per share ("Common Stock") of Brio
Industries, Inc. ("Issuer"). All capitalized terms used but not otherwise
defined in this Amendment shall have the meanings given to them in the original
Schedule 13D.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
Item 3 of the Original Schedule 13D is amended by replacing the first paragraph
thereof with the following paragraph:
The Delaware Fund and the Cayman Fund each acquired 227,500
shares of Common Stock in a series of open market transactions over the period
from August 30, 1996 to September 19, 1996. The Delaware Fund and the Cayman
Fund each acquired an additional 87,500 shares of Common Stock in a series of
open market transactions over the period from October 9, 1996 to October 22,
1996. The aggregate amount of funds required by the Delaware Fund to purchase
the 227,500 shares beneficially owned by it as of September 19, 1996 was
$630,156. The aggregate amount of funds required by the Delaware Fund to
purchase the 87,500 shares acquired by it over the period from October 9, 1996
to October 22, 1996 was $289,610.45. The aggregate amount of funds required by
the Cayman Fund to purchase the 227,500 shares beneficially owned by it as of
September 19, 1996 was $630,156. The aggregate amount of funds required by the
Cayman Fund to purchase the 87,500 shares acquired by it over the period from
October 9, 1996 to October 22, 1996 was $289,610.45. The funds used to purchase
all such Common Stock were obtained from the working capital of the Delaware
Fund and the Cayman Fund, respectively.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
Item 5 of the Original Schedule 13D is amended as follows:
The first paragraph of Item 5 of the Original Schedule 13D is replaced with the
following paragraph:
Mr. Werlin and Mr. Brown may each be deemed to beneficially own
836,500 shares of Common Stock constituting 15.21% of the outstanding class of
Common Stock.
The third sentence of the second paragraph of Item 5 of the Original Schedule
13D is replaced with the following sentence:
The Delaware Fund holds a total of 315,000 shares of Common Stock
which constitutes 5.73% of the outstanding class of Common Stock.
The fourth sentence of the third paragraph of Item 5 of the Original Schedule
13D is replaced with the following sentence:
The Cayman Fund holds a total of 315,000 shares of Common Stock
which constitutes 5.73% of the outstanding class of Common Stock.
The third sentence of the fourth paragraph of Item 5 of the Original Schedule
13D is replaced with the following sentence:
Each of the Delaware Fund and the Cayman Fund beneficially owns
315,000 shares of Common Stock and each such entity has sole voting and
dispositive power with respect to the shares of Common Stock it owns.
[Signature Page To Follow]
<PAGE>
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of our knowledge and
belief, we certify that the information set forth in this statement is true,
complete and correct.
Dated: October 29, 1996 /s/ ERNEST P. WERLIN
-----------------------------------
Ernest P. Werlin
/s/ ANDREW M. BROWN
-----------------------------------
Andrew M. Brown
THE HIGH VIEW FUND, L.P.
By: High View Capital Corporation
By: /s/ ERNEST P. WERLIN
-------------------------------
Ernest P. Werlin
President
THE HIGH VIEW FUND
By: /s/ CEDRIC L. CARROLL
-------------------------------
Cedric L. Carroll
Director
