SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Schedule 13D
Under the Securities Exchange Act of 1934
(Amendment No. 5)*
Transworld Healthcare, Inc.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, $.01 par value per share
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(Title of Class of Securities)
894081 10 8
---------------
(CUSIP Number)
Scott A. Shay, Hyperion Partners II L.P., 50 Charles Lindbergh Blvd.,
Suite 500, Uniondale, NY 11553 (516) 745-6644
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
August 31, 1998
----------------------------
(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 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 disclosure
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).
(Continued on following pages)
Page 1 of 12 Pages
<PAGE>
CUSIP No. 894081 10 8 13D Page 2 of 12 Pages
-------------------- --- --
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Hyperion Partners II L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC, OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) OR 2(e) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF -0-
SHARES
BENEFICIALLY -------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH -10,818,021- (1)(2)
REPORTING
PERSON -------------------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
-0-
-------------------------------------------------
10 SHARED DISPOSITIVE POWER
-10,818,021- (1)(2)
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
-10,818,021- (2)
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* |X|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
61.7% (2)
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
*SEE INSTRUCTIONS BEFORE FILLING OUT!
(1) Power is exercised through its sole general partner, Hyperion Ventures II
L.P.
(2) Excludes 3,000,000 shares issuable upon exercise of Warrants.
<PAGE>
CUSIP No. 894081 10 8 13D Page 3 of 12 Pages
-------------------- --- --
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Hyperion Ventures II L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF -0-
SHARES
BENEFICIALLY ----------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH -10,818,021- (1)(2)
REPORTING
PERSON ----------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
-0-
----------------------------------------
10 SHARED DISPOSITIVE POWER
-10,818,021- (1)(2)
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
-10,818,021- (1)(2)
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* |X|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
61.7%(2)
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
(1) Solely in its capacity as the general partner of Hyperion Partners II L.P.
(2) Excludes 3,000,000 shares issuable upon exercise of Warrants.
<PAGE>
CUSIP No. 894081 10 8 13D Page 4 of 12 Pages
-------------------- --- --
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Hyperion Funding II Corp.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF -0-
SHARES
BENEFICIALLY ----------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH -10,818,021- (1)(2)
REPORTING
PERSON ----------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
-0-
----------------------------------------
10 SHARED DISPOSITIVE POWER
-10,818,021- (1)(2)
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
-10,818,021- (1)(2)
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* |X|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
61.7%(2)
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
(1) Solely in its capacity as the sole general partner, Hyperion Ventures II
L.P., which is the sole general partner of Hyperion Partners II L.P.
(2) Excludes 3,000,000 shares issuable upon exercise of Warrants.
<PAGE>
CUSIP No. 894081 10 8 13D Page 5 of 12 Pages
-------------------- --- --
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Hyperion TW Fund L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC, 00
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF -0-
SHARES
BENEFICIALLY ----------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH -4,148,456- (1)
REPORTING
PERSON ----------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
-0-
----------------------------------------
10 SHARED DISPOSITIVE POWER
-4,148,456- (1)
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
-4,148,456-
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* |X|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
23.7%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
(1) Power is exercised through its sole general partner, Hyperion TW LLC.
<PAGE>
CUSIP No. 894081 10 8 13D Page 6 of 12 Pages
-------------------- --- --
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Hyperion TW LLC
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
00
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF -0-
SHARES
BENEFICIALLY ----------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH -4,148,456- (1)
REPORTING
PERSON ----------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
-0-
----------------------------------------
10 SHARED DISPOSITIVE POWER
-4,148,456- (1)
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
-4,148,456-
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* |X|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
23.7%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
00
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
(1) Solely in its capacity as the general partner of Hyperion TW Fund L.P.
<PAGE>
CUSIP No. 894081 10 8 13D Page 7 of 12 Pages
-------------------- --- --
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Lewis S. Ranieri
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
00
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF -0-
SHARES
BENEFICIALLY ----------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH -10,818,021- (1)(2)
REPORTING
PERSON ----------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
-0-
----------------------------------------
10 SHARED DISPOSITIVE POWER
-10,818,021- (1)(2)
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
-10,818,021- (1)(2)
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* |X|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
61.7% (2)
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
(1) Solely in his capacity as Chairman and President, director and shareholder
of Hyperion Funding II Corp., which is the sole general partner of Hyperion
Ventures II L.P., which is the sole general partner of Hyperion Partners II
L.P., which is the sole managing member of Hyperion TW LLC, which is the
sole general partner of Hyperion TW Fund L.P.
(2) Excludes 3,000,000 shares issuable upon exercise of Warrants.
<PAGE>
CUSIP No. 894081 10 8 13D Page 8 of 12 Pages
-------------------- --- --
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Scott A. Shay
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
00
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF -0-
SHARES
BENEFICIALLY ----------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH -10,818,021- (1)(2)
REPORTING
PERSON ----------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
-0-
----------------------------------------
10 SHARED DISPOSITIVE POWER
-10,818,021- (1)(2)
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
-10,818,021- (1)(2)
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* |X|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
61.7% (2)
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
(1) Solely in his capacity as Executive Vice President and Assistant Secretary,
director and shareholder of Hyperion Funding II Corp., which is the sole
general partner of Hyperion Ventures II L.P., which is the sole general
partner of Hyperion Partners II L.P., which is the sole managing member of
Hyperion TW LLC, which is the sole general partner of Hyperion TW Fund L.P.
(2) Excludes 3,000,000 shares issuable upon exercise of Warrants.
<PAGE>
CUSIP No. 894081 10 8 Page 9 of 12 Pages
-------------------- --- --
The Statement on Schedule 13D, dated June 6, 1996, filed by the
undersigned with the Securities and Exchange Commission on June 7, 1996,
relating to the Common Stock, par value $0.01 per share, of Transworld
Healthcare, Inc., as amended by Amendment No. 1 thereto, dated August 1, 1996,
Amendment No. 2 thereto, dated January 23, 1997, Amendment No. 3 thereto, dated
April 14, 1997 and Amendment No. 4 thereto, dated May 5, 1997 (the "Schedule
13D"), is hereby further amended by adding thereto the information set forth
below. Capitalized terms used and not otherwise defined herein shall have the
meanings ascribed to them in the Schedule 13D, unless the context otherwise
requires.
Item 3. Source and Amount of Funds and Other Consideration.
Item 3 is hereby supplemented by addition of the following:
The funds for the purchase of the March 1997 Fund Shares were obtained
from capital contributed to the Fund by its partners. The funds for the
purchases of shares of Common Stock by the Fund in July and August of 1998 were
obtained from capital contributed to the Fund by its partners. The funds for the
purchases of shares of Common Stock by the TW Fund in July of 1998 were obtained
from capital contributed to the Fund by its partners.
Item 4. Purpose of Transactions.
The shares of Common Stock acquired by the Fund in July and August of
1998 were acquired by the Fund for the purpose of investment. The shares of
Common Stock acquired by the TW Fund in July of 1998 were acquired by the TW
Fund for the purpose of investment. The shares of Common Stock referred to in
the two preceding sentences and any other shares of Common Stock now owned or
hereafter acquired by the Fund and the TW Fund, respectively, or by other
Reporting Persons, may be disposed of at any time or from time to time, in whole
or in part. In addition, the Reporting Persons and their affiliates may in the
future acquire additional shares of Common Stock.
Item 5. Interest in Securities of the Issuer.
Items 5(a)-(c) are hereby supplemented by addition of the following:
<PAGE>
CUSIP No. 894081 10 8 Page 10 of 12 Pages
-------------------- --- --
(a)-(c) Pursuant to the March 1997 Fund Purchase Agreement the Fund
purchased from Transworld 1,159,288 shares of Common Stock. The Fund purchased
211,400 shares of Common Stock on the open market throughout July and August of
1998. The TW Fund purchased 32,000 shares of Common Stock on the open market in
July of 1998. Accordingly, the Fund beneficially owns 10,818,021 shares of
Common Stock (of which 6,669,565 shares are owned directly by the Fund and
4,148,456 shares are owned directly by the TW Fund), constituting approximately
61.7% of the outstanding Common Stock (on the basis of 17,536,076 shares
outstanding as of August 10, 1998). In addition, the Fund owns 3,000,000
Warrants.
As a result of its right to acquire Common Stock upon exercise of the
Warrants, the Fund may be deemed under Rule 13d- 3(d)(1)(i)(A) under the Act, to
own beneficially 13,818,021 shares of Common Stock, constituting approximately
67.3% of the outstanding Common Stock (on the basis of 17,536,076 shares
outstanding as of August 10, 1998).
<PAGE>
CUSIP No. 894081 10 8 Page 11 of 12 Pages
-------------------- --- --
Signature
- ---------
After reasonable inquiry and to the best of each of the undersigned's
knowledge and belief, each of the undersigned certifies that the information set
forth in this statement is true, complete and correct.
Dated: September 10, 1998
HYPERION TW FUND L.P.
By: HYPERION TW LLC,
its General Partner
By: HYPERION PARTNERS II L.P.,
its Managing Member
By: HYPERION VENTURES II L.P.,
its General Partner
By: HYPERION FUNDING II CORP.,
its General Partner
By:/s/Scott A. Shay
Name: Scott A. Shay
Title: Executive Vice President
HYPERION TW LLC,
By: HYPERION PARTNERS II L.P.,
its Managing Member
By: HYPERION VENTURES II L.P.,
its General Partner
By: HYPERION FUNDING II CORP.,
its General Partner
By:/s/Scott A. Shay
Name: Scott A. Shay
Title: Executive Vice President
<PAGE>
CUSIP No. 894081 10 8 Page 12 of 12 Pages
-------------------- --- --
HYPERION PARTNERS II L.P.
By: Hyperion Ventures II L.P.,
its general partner
By: Hyperion Funding II Corp.,
its general partner
By:/s/Scott A. Shay
Name: Scott A. Shay
Title: Executive Vice President
HYPERION VENTURES II L.P.
By: Hyperion Funding II Corp.,
its general partner
By:/s/Scott A. Shay
Name: Scott A. Shay
Title: Executive Vice President
HYPERION FUNDING II CORP.
By:/s/Scott A. Shay
Name: Scott A. Shay
Title: Executive Vice President
/s/Scott A. Shay
Scott A. Shay, as Attorney-in-Fact
for Lewis S. Ranieri
/s/Scott A. Shay
Scott A. Shay
<PAGE>
