UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
AMENDMENT NO. 1
Under the Securities Exchange Act of 1934
MERIX CORPORATION
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(Name of Issuer)
Common Stock, No Par Value
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(Title of Class of Securities)
590049-10-2
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(CUSIP Number)
Jeffrey E. Schwarz
Metropolitan Capital Advisors, Inc.
660 Madison Avenue
New York, NY 10021
(212) 486-8100
-with copies to-
Joseph F. Mazzella, Esq.
Lane Altman & Owens LLP
101 Federal Street
Boston, Massachusetts 02110
(617) 345-9800
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(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
October 28, 1997
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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 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 13-d(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 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).
SCHEDULE 13D
CUSIP NO. 590049-10-2 PAGE 2 OF 14 PAGES
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1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person Metropolitan Capital
Advisors, Inc.
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2 Check the Appropriate Box if a Member of a Group* (a) |_|
(b) |X|
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3 SEC Use Only
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4 Source of Funds* 00
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5 Check Box if Disclosure of Legal Proceeding is Required Pursuant to
Items 2(d) or 2(e) |_|
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6 Citizenship or Place of Organization NEW YORK
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Number of 7 Sole Voting Power 0
Shares ___________________________________________________________
Beneficially 8 Shared Voting Power 252,900
Owned by ___________________________________________________________
Each 9 Sole Dispositive Power 0
Reporting ___________________________________________________________
Person With 10 Shared Dispositive Power 252,900
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11 Aggregate Amount Beneficially Owned by Each Reporting Person 252,900
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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) 4.08 %
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14 Type of Reporting Person* CO
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*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.
SCHEDULE 13D
CUSIP NO. 590049-10-2 PAGE 3 OF 14 PAGES
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1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Peerson KJ Advisors, Inc.
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2 Check the Appropriate Box if a Member of a Group* (a) |_|
(b) |X|
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3 SEC Use Only
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4 Source of Funds* 00
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5 Check Box if Disclosure of Legal Proceeding is Required Pursuant to
Items 2(d) or 2(e) |_|
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6 Citizenship or Place of Organization NEW YORK
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Number of 7 Sole Voting Power 0
Shares ___________________________________________________________
Beneficially 8 Shared Voting Power 43,400
Owned by ___________________________________________________________
Each 9 Sole Dispositive Power 0
Reporting ___________________________________________________________
Person With 10 Shared Dispositive Power 43,400
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11 Aggregate Amount Beneficially Owned by Each Reporting Person 43,400
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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) 0.70 %
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14 Type of Reporting Person* CO
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*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.
SCHEDULE 13D
CUSIP NO. 590049-10-2 PAGE 4 OF 14 PAGES
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1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Metropolitan Capital III, Inc..
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2 Check the Appropriate Box if a Member of a Group* (a) |_|
(b) |X|
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3 SEC Use Only
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4 Source of Funds* 00
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5 Check Box if Disclosure of Legal Proceeding is Required Pursuant to
Items 2(d) or 2(e) |_|
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6 Citizenship or Place of Organization New York
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Number of 7 Sole Voting Power 0
Shares ___________________________________________________________
Beneficially 8 Shared Voting Power 182,400
Owned by ___________________________________________________________
Each 9 Sole Dispositive Power 0
Reporting ___________________________________________________________
Person With 10 Shared Dispositive Power 182,400
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11 Aggregate Amount Beneficially Owned by Each Reporting Person 182,400
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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) 2.95 %
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14 Type of Reporting Person* CO
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*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.
SCHEDULE 13D
CUSIP NO. 590049-10-2 PAGE 5 OF 14 PAGES
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1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person Jeffrey E. Schwarz
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2 Check the Appropriate Box if a Member of a Group* (a) |_|
(b) |X|
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3 SEC Use Only
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4 Source of Funds* None
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5 Check Box if Disclosure of Legal Proceeding is Required Pursuant to
Items 2(d) or 2(e) |_|
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6 Citizenship or Place of Organization U.S.A.
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Number of 7 Sole Voting Power 0
Shares ___________________________________________________________
Beneficially 8 Shared Voting Power 478,700
Owned by ___________________________________________________________
Each 9 Sole Dispositive Power 0
Reporting ___________________________________________________________
Person With 10 Shared Dispositive Power 478,700
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11 Aggregate Amount Beneficially Owned by Each Reporting Person 478,700
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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) 7.73 %
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14 Type of Reporting Person* IN
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*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.
SCHEDULE 13D
CUSIP NO. 590049-10-2 PAGE 6 OF 14 PAGES
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1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person Karen Finerman
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2 Check the Appropriate Box if a Member of a Group* (a) |_|
(b) |X|
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3 SEC Use Only
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4 Source of Funds* None
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5 Check Box if Disclosure of Legal Proceeding is Required Pursuant to
Items 2(d) or 2(e) |_|
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6 Citizenship or Place of Organization U.S.A.
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Number of 7 Sole Voting Power 0
Shares ___________________________________________________________
Beneficially 8 Shared Voting Power 478,700
Owned by ___________________________________________________________
Each 9 Sole Dispositive Power 0
Reporting ___________________________________________________________
Person With 10 Shared Dispositive Power 478,700
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11 Aggregate Amount Beneficially Owned by Each Reporting Person 478,700
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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) 7.73 %
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14 Type of Reporting Person* IN
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*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.
SCHEDULE 13D
CUSIP NO. 590049-10-2 PAGE 7 OF 14 PAGES
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This Amendment No. 1 relates to the Schedule 13D originally filed on
behalf of the Reporting Persons with the Commission on August 13, 1997. The text
of Items 3 and 5 of said Schedule 13D are hereby amended by the following:
ITEM 3. SOURCE AND AMOUNT OF FUNDS
The sources of the funds used by Metropolitan Capital to purchase
Common Stock on behalf of Bedford Falls Investors, L.P., were working capital
and margin borrowing through brokerage accounts maintained at Bear, Stearns &
Company. The approximate aggregate amount of funds used to purchase such
securities for Bedford Falls Investors, L.P. was $3,971,832. The portion of such
funds provided by margin borrowing is not readily determinable and varies from
time to time as a result of varying margin account availability and other
unrelated, ongoing transactions in such accounts. All such securities were
acquired by open market purchases.
The sources of funds used to purchase Common Stock on behalf of the
Managed Accounts was equity capital in the Managed Accounts and margin borrowing
through a brokerage account maintained at Bear, Stearns & Company. The
approximate aggregate amount of funds used to purchase such securities for the
Managed Accounts was $700,004. The portion of such funds provided by margin
borrowing is not readily determinable and varies from time to time as a result
of varying margin account availability and other unrelated, ongoing transactions
in the Managed Accounts. All such securities were acquired by open market
purchases.
The sources of funds used to purchase Common Stock on behalf of
Metropolitan Capital Advisors International Limited were working capital and
margin borrowing through brokerage accounts maintained at Bear Stearns &
Company. The approximate aggregate amount of funds used to purchase such
securities was $2,895,839. The portion of such funds provided by margin
borrowing is not readily determinable and varies from time to time as a result
of varying margin account availability and other unrelated ongoing transactions
in such accounts. All such securities were acquired by open market purchases.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
(a) (b) The beneficial ownership and voting and dispositive power of
each of the Reporting Persons over Common Stock of the Issuer as of the date
hereof is as follows:
(i) Metropolitan Capital has purchased no shares of Common Stock
of the Issuer solely for its own account. However,
Metropolitan Capital may be deemed to have shared voting and
dispositive power over the 252,900 shares representing 4.08%
of Common Stock of the Issuer beneficially owned by Bedford
Falls Investors, L.P.
(ii) KJ Advisors, Inc. is the owner of shares of Common Stock of
the Issuer solely by reason of its position as General Partner
of Metropolitan Capital Partners II, L.P. which has
discretionary voting and dispositive power over assets held in
the Managed Accounts. Thus, by virtue of being the General
Partner of Metropolitan Capital Partners II, L.P., KJ
Advisors, Inc. may be deemed to have shared voting and
dispositive power over the 43,400 shares representing 0.70% of
Common Stock of the Issuer held in the Managed Accounts.
SCHEDULE 13D
CUSIP NO. 590049-10-2 PAGE 8 OF 14 PAGES
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(iii) Metropolitan Capital III, Inc. has purchased no shares of
Common Stock of the Issuer solely for its own account.
However, by reason of its position as General Partner of
Metropolitan Capital Partners III, L.P. which has
discretionary voting and dispositive power over the assets of
Metropolitan Capital Advisors International Limited,
Metropolitan Capital III, Inc. may be deemed to have shared
voting and dispositive power over the 182,400 shares
representing 2.95% of the Common Stock of the Issuer owned by
Metropolitan Capital Advisors International Limited.
(iv) Jeffrey Schwarz may be deemed the beneficial owner of 478,700
shares representing 7.73% of the Common Stock of the Issuer as
a result of his being a director, executive officer and
controlling stockholder of Metropolitan Capital, KJ Advisors,
Inc. and Metropolitan Capital III, Inc. Jeffrey Schwarz does
not beneficially own any shares of Common Stock of the Issuer
other than through such positions.
(v) Karen Finerman may be deemed the beneficial owner of 478,700
shares representing 7.73% of the Common Stock of the Issuer as
a result of her being a director and executive officer of
Metropolitan Capital, and a director, executive officer and
stockholder of KJ Advisors, Inc. and Metropolitan Capital III,
Inc. Karen Finerman does not beneficially own any shares of
Common Stock of the Issuer other than through such positions.
The number of shares beneficially owned and the percentage of
outstanding shares represented thereby, for each of the Reporting Persons, have
been computed in accordance with Rule 13D-3 under the Securities Exchange Act of
1934, as amended. The percentages of ownership described above are based on the
6,191,623 shares of Common Stock reported outstanding as of September 30, 1997
by the Issuer in its Form 10-Q for quarter ended September 30, 1997.
(c) Transactions in the class of Securities reported on herein effected
within the last 60 days by Metropolitan Capital for and on behalf of Bedford
Falls Investors, L.P. are as follows. All such transactions comprise open market
purchases of Common Stock unless otherwise indicated.
DATE NO. OF SHARES PRICE PER SHARE TOTAL
---- ------------- --------------- -----
10/28/97 41,200 $13.625 $561,365.00
Transactions in the class of securities reported on herein effected
within the last 60 days by KJ Advisors, Inc., for and on behalf of the Managed
Accounts are as follows. All such transactions comprise open market purchases of
Common Stock unless otherwise indicated.
DATE NO. OF SHARES PRICE PER SHARE TOTAL
---- ------------- --------------- -----
10/28/97 6,800 $13.625 $92,680
Transactions in the class of securities reported on herein effected
within the last 60 days by Metropolitan Capital III, Inc., for and on behalf of
Metropolitan Capital Advisors International Limited are as follows. All such
transactions comprise open market purchases of Common Stock unless otherwise
indicated.
SCHEDULE 13D
CUSIP NO. 590049-10-2 PAGE 9 OF 14 PAGES
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DATE NO. OF SHARES PRICE PER SHARE TOTAL
---- ------------- --------------- -----
10/28/97 52,000 $13.625 $708,515.00
(d) Not Applicable
(e) Not Applicable.
SCHEDULE 13D
CUSIP NO. 590049-10-2 PAGE 10 OF 14 PAGES
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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.
This statement may be executed in any number of counterparts, each of which
shall be deemed an original and all of which shall constitute one (1)
instrument.
Metropolitan Capital Advisors, Inc.
By: /s/ Jeffrey E. Schwarz
-------------------------------------------
Jeffrey E. Schwarz, Chief Executive Officer
Dated as of: October 30, 1997
SCHEDULE 13D
CUSIP NO. 590049-10-2 PAGE 11 OF 14 PAGES
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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.
This statement may be executed in any number of counterparts, each of which
shall be deemed an original and all of which shall constitute one (1)
instrument.
KJ Advisors, Inc.
By: /s/ Jeffrey E. Schwarz
-------------------------------------------
Jeffrey E. Schwarz, Chief Executive Officer
Dated as of: October 30, 1997
SCHEDULE 13D
CUSIP NO. 590049-10-2 PAGE 12 OF 14 PAGES
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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.
This statement may be executed in any number of counterparts, each of which
shall be deemed an original and all of which shall constitute one (1)
instrument.
Metropolitan Capital III, Inc.
By: /s/ Jeffrey E. Schwarz
-------------------------------------------
Jeffrey E. Schwarz, Chief Executive Officer
Dated as of: October 30, 1997
SCHEDULE 13D
CUSIP NO. 590049-10-2 PAGE 13 OF 14 PAGES
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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.
This statement may be executed in any number of counterparts, each of which
shall be deemed an original and all of which shall constitute one (1)
instrument.
By: /s/ Jeffrey E. Schwarz
-----------------------------
Jeffrey E. Schwarz
Dated as of: October 30, 1997
SCHEDULE 13D
CUSIP NO. 590049-10-2 PAGE 14 OF 14 PAGES
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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.
This statement may be executed in any number of counterparts, each of which
shall be deemed an original and all of which shall constitute one (1)
instrument.
By: /s/ Karen Finerman
--------------------------
Karen Finerman
Dated as of: October 30, 1997
