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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. 2)*
BREED TECHNOLOGIES, INC.
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(Name of Issuer)
Common Stock, $0.01 par value
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(Title of Class of Securities)
106702103
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(CUSIP Number)
Johnnie Cordell Breed
c/o Breed Technologies, Inc.
5300 Allen K. Breed Highway
Lakeland, Florida 33807
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(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
March 24, 2000
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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(e), 13d-1(f), or 13d-1(g), check the following
box [_].
Note. Schedules filed in paper format shall include a signed original and
five copies of the schedule, including all exhibits. See Rule 13d-7 for
other parties to whom copies are to be sent.
* The remainder of this page shall be filled out for a reporting person's
initial filing of 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
"filed" for 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. 106702103 Page 2 of 8 Pages
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NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only).
J. Breed Ltd.
88-0404599
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
2 (a) [X]
(b) [_]
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SEC USE ONLY
3
------------------------------------------------------------------------------
SOURCE OF FUNDS (See Instructions)
4
Not Applicable
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CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5
------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
J. Breed Ltd. is organized as a Nevada limited partnership
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SOLE VOTING POWER
7
NUMBER OF
16,955,500
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY -0-
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
16,955,500
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
-0-
------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
16,955,500
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CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
12
(See Instructions)
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
46.0%
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TYPE OF REPORTING PERSON (See Instructions)
14
PN
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Page 2 of 8 Pages
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SCHEDULE 13D
CUSIP NO. 106702103 Page 3 of 8 Pages
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NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only).
Johnnie Cordell Breed
###-##-####
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
2 (a) [X]
(b) [_]
------------------------------------------------------------------------------
SEC USE ONLY
3
------------------------------------------------------------------------------
SOURCE OF FUNDS (See Instructions)
4
Not Applicable
------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5
------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
United States Citizen
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SOLE VOTING POWER
7
NUMBER OF
16,955,500
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 109,200
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
16,955,500
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
109,200
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
17,064,700
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CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
12
(See Instructions)
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
46.3%
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TYPE OF REPORTING PERSON (See Instructions)
14
IN
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Page 3 of 8 Pages
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SCHEDULE 13D
CUSIP NO. 106702103 Page 4 of 8 Pages
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NAMES OF REPORTING PERSONS
1 I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only).
Johnnie Breed, Inc.
88-0404600
------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
2 (a) [X]
(b) [_]
------------------------------------------------------------------------------
SEC USE ONLY
3
------------------------------------------------------------------------------
SOURCE OF FUNDS (See Instructions)
4
Not Applicable
------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5
------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Johnnie Breed, Inc., is a Nevada corporation
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SOLE VOTING POWER
7
NUMBER OF
16,955,500
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY -0-
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
16,955,500
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
-0-
------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
16,955,500
------------------------------------------------------------------------------
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
12
(See Instructions)
------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
46.0%
------------------------------------------------------------------------------
TYPE OF REPORTING PERSON (See Instructions)
14
CO
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Page 4 of 8 Pages
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Item 1. Security and Issuer.
This Schedule relates to shares of common stock, $0.01 par value per share
("Common Stock"), of BREED Technologies, Inc., a Delaware corporation
("Issuer"), whose principal executive offices are located at 5300 Allen K. Breed
Highway, Lakeland, Florida 33807. (This Amendment No. 2 to Schedule 13D,
together with Amendment No. 1 and the Initial Schedule 13D filed on April 20,
2000 and December 31, 1996, respectively, are referred herein, collectively, as
the "Schedule 13D").
Item 4. Purpose of Transaction
The securities covered by this Schedule 13D were originally held by the
founder of the Issuer, Allen K. Breed, and transferred to the reporting persons
in connection with various estate planning transactions entered into prior to,
and subsequent to, the death of Mr. Breed.
On September 20, 1999, the Issuer and certain of its subsidiaries filed
voluntary petitions in the United States Bankruptcy Court for the District of
Delaware (the "Bankruptcy Court") seeking to reorganize the Issuer under Chapter
11 of the Bankruptcy Code.
The Board of Directors of the Issuer, with the permission of the Bankruptcy
Court, retained the investment banking firm of Wasserstein Perella & Co. to
evaluate the alternatives available to the Issuer and to advise them in
developing a reorganization plan or evaluate other options available to the
Issuer to emerge from its Chapter 11 bankruptcy case, including the potential
sale of the Issuer or substantially all of its assets to a third party.
In connection with the foregoing, an investor group, which includes Johnnie
Cordell Breed, the Issuer's current Chairman of the Board and CEO, submitted a
proposal to the Board of Directors of the Issuer on March 24, 2000 offering to
purchase substantially all of the assets of the Issuer through a corporation to
be formed. The proposal was subsequently withdrawn, however, the investor group
remains interested in pursuing an acquisition of the Issuer. Acceptance of any
proposed transaction is subject to the approval of the Board of Directors of the
Issuer and the Bankruptcy Court.
Page 5 of 8 pages
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Other than as described above, the reporting persons have no plans or
proposals that relate to or would result in (a) the acquisition by any person of
additional securities of the Issuer, or the disposition of securities of the
Issuer; (b) an extraordinary corporate transaction, such as a merger,
reorganization or liquidation, involving the Issuer or any of its subsidiaries;
(c) a sale or transfer of a material amount of assets of the Issuer or any of
its subsidiaries; (d) any change in the present Board of Directors or management
of the Issuer, including any plans or proposals to change the number or term of
directors or to fill any existing vacancies on the board; (e) any material
change in the present capitalization or dividend policy of the Issuer; (f) any
other material change in the Issuer's business or corporate structure, including
but not limited to, if the Issuer is a registered closed-end investment company,
any plans or proposals to make any changes in its investment policy for which a
vote is required by Section 13 of the Investment Company Act of 1940; (g)
changes in the Issuer's charter, bylaws or instruments corresponding thereto or
other actions which may impede the acquisition of control of the Issuer by any
person; (h) causing a class of securities of the Issuer to be delisted from a
national securities exchange or to cease to be authorized to be quoted in an
inter-dealer quotation system of a registered national securities association;
(i) a class of equity securities of the Issuer becoming eligible for termination
of registration pursuant to Section 12(g)(4) of the Act; or (j) any action
similar to any of those enumerated above.
Item 5. Interest in Securities of Issuer
(a)(i) The JB Partnership is the beneficial owner of 16,955,500 shares of
Common Stock, representing approximately 46.0% of the outstanding Common
Stock of the Issuer (the "Partnership Shares").
(ii) Johnnie Breed, Inc., as the sole general partner of JB Partnership, may
be deemed to be the beneficial owner of the Partnership Shares.
Page 6 of 8 Pages
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(iii) Johnnie Cordell Breed is the beneficial owner of 17,064,700 shares of
Common Stock, representing approximately 46.3% of the outstanding Common
Stock of the Issuer, as follows:
Sole officer, director and shareholder
of Johnnie Breed, Inc. .................... 16,955,500
Trustee of Trust ("Trust Shares")............ 109,200
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Total Shares Beneficially Owned.............. 17,064,700
==========
(b) The JB Partnership, Johnnie Breed, Inc., and Johnnie Cordell Breed have the
sole voting and dispositive power over the Partnership Shares, and Johnnie
Cordell Breed also shares voting and dispositive powers over the Trust Shares.
(c) The filing persons have not effected any transactions in the Common Stock
during the past 60 days.
(d) Not applicable.
(e) Not applicable.
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 statement is true, complete and
correct.
Dated: July 20, 2000 J. BREED, LTD.
By: Johnnie Breed, Inc.
its General Partner
/s/ Johnnie Cordell Breed
------------------------------------
Johnnie Cordell Breed,
Sole Director and Executive Officer
Dated: July 20, 2000 JOHNNIE BREED, INC.
/s/ Johnnie Cordell Breed
------------------------------------
Johnnie Cordell Breed,
Sole Director and Executive Officer
Dated: July 20, 2000 /s/ Johnnie Cordell Breed
------------------------------------
Johnnie Cordell Breed (Individually)
Page 8 of 8 Pages
