<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 2)
PROXIMA CORPORATION
(Name of Issuer)
Common Stock, Par Value, $0.001 Per Share
(Title of Class of Securities)
744287103
(CUSIP Number)
Stephen M. Davis, Esq.
Werbel & Carnelutti
A Professional Corporation
711 Fifth Avenue, New York, New York 10022, (212) 832-8300
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
February 19, 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 13-d-
1(b)(3) or (4), check the following box [ ].
The information required on the remainder of this cover page
shall not be deemed to be "filed" for the purposes 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).
Page 1 of 20 Pages<PAGE>
<PAGE>
SCHEDULE 13D
- ------------------- ------------------
CUSIP No. 744287103 Page 2 of 20 Pages
- ------------------- ------------------
=================================================================
1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
The SC Fundamental Value Fund, L.P.
- ----------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [ ]
- ----------------------------------------------------------------
3 SEC USE ONLY
- ----------------------------------------------------------------
4 SOURCE OF FUNDS
WC/OO
- -----------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(E) [ ]
- -----------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- -----------------------------------------------------------------
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
- -----------------------------------------------------------------
7 SOLE VOTING POWER
0
- -----------------------------------------------------------------
8 SHARED VOTING POWER
360,085
- -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
- -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
360,085
- -----------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
360,085
- -----------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- -----------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.0%
- -----------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
=================================================================
<PAGE>
<PAGE>
SCHEDULE 13D
- ------------------- -----------------
CUSIP No. 744287103 Page 3 of 20 Pages
- ------------------- -----------------
=================================================================
1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
SC Fundamental Value BVI, Inc.
- -----------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [ ]
- -----------------------------------------------------------------
3 SEC USE ONLY
- ----------------------------------------------------------------
4 SOURCE OF FUNDS
WC/OO
- -----------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(E) [ ]
- -----------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- -----------------------------------------------------------------
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
- -----------------------------------------------------------------
7 SOLE VOTING POWER
344,515
- -----------------------------------------------------------------
8 SHARED VOTING POWER
0
- ----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
344,515
- ----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- -----------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
344,515
- ----------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- -----------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.8%
- ----------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
=================================================================
<PAGE>
<PAGE>
SCHEDULE 13D
- ------------------- -----------------
CUSIP No. 744287103 Page 4 of 20 Pages
- ------------------- -----------------
=================================================================
1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
SC-BVI Partners
- -----------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [ ]
- -----------------------------------------------------------------
3 SEC USE ONLY
- ----------------------------------------------------------------
4 SOURCE OF FUNDS
OO
- -----------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(E) [ ]
- -----------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- -----------------------------------------------------------------
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
- -----------------------------------------------------------------
7 SOLE VOTING POWER
0
- -----------------------------------------------------------------
8 SHARED VOTING POWER
344,515
- ----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
- ----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
344,515
- -----------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
344,515
- ----------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- -----------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.8%
- ----------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
=================================================================
<PAGE>
<PAGE>
SCHEDULE 13D
- ------------------- -----------------
CUSIP No. 744287103 Page 5 of 20 Pages
- ------------------- -----------------
=================================================================
1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
SC Fundamental Value BVI, Ltd.
- -----------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [ ]
- -----------------------------------------------------------------
3 SEC USE ONLY
- ----------------------------------------------------------------
4 SOURCE OF FUNDS
OO
- -----------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(E) [ ]
- -----------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
British Virgin Islands
- -----------------------------------------------------------------
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
- -----------------------------------------------------------------
7 SOLE VOTING POWER
0
- -----------------------------------------------------------------
8 SHARED VOTING POWER
344,515
- ----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
- ----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
344,515
- -----------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
344,515
- ----------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- -----------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.8%
- ----------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
=================================================================
<PAGE>
<PAGE>
SCHEDULE 13D
- ------------------- -----------------
CUSIP No. 744287103 Page 6 of 20 Pages
- ------------------- -----------------
=================================================================
1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
SC Fundamental Inc.
- -----------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [ ]
- -----------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------
4 SOURCE OF FUNDS
WC/OO
- -----------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(E) [ ]
- -----------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- -----------------------------------------------------------------
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
- -----------------------------------------------------------------
7 SOLE VOTING POWER
0
- -----------------------------------------------------------------
8 SHARED VOTING POWER
360,085
- -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
- -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
360,085
- -----------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
360,085
- -----------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- -----------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.0%
- ----------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
=================================================================
<PAGE>
<PAGE>
SCHEDULE 13D
- ------------------- -----------------
CUSIP No. 744287103 Page 7 of 20 Pages
- ------------------- -----------------
=================================================================
1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
SC Fundamental, LLC
- -----------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [ ]
- -----------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------
4 SOURCE OF FUNDS
OO
- -----------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(E) [ ]
- -----------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- -----------------------------------------------------------------
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
- -----------------------------------------------------------------
7 SOLE VOTING POWER
0
- -----------------------------------------------------------------
8 SHARED VOTING POWER
360,085
- -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
- -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
360,085
- -----------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
360,085
- -----------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- -----------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.0%
- -----------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
=================================================================
<PAGE>
<PAGE>
SCHEDULE 13D
- ------------------- -----------------
CUSIP No. 744287103 Page 8 of 20 Pages
- ------------------- -----------------
=================================================================
1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Gary N. Siegler
- -----------------------------------------------------------------
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 ITEMS 2(d) or 2(E) [ ]
- -----------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- -----------------------------------------------------------------
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
- -----------------------------------------------------------------
7 SOLE VOTING POWER
0
- -----------------------------------------------------------------
8 SHARED VOTING POWER
704,600
- -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
- -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
704,600
- -----------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
704,600
- -----------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- -----------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.8%
- -----------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
=================================================================
<PAGE>
<PAGE>
SCHEDULE 13D
- ------------------- -----------------
CUSIP No. 744287103 Page 9 of 20 Pages
- ------------------- -----------------
=================================================================
1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Peter M. Collery
- -----------------------------------------------------------------
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 ITEMS 2(d) or 2(E) [ ]
- -----------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- -----------------------------------------------------------------
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
- -----------------------------------------------------------------
7 SOLE VOTING POWER
0
- ----------------------------------------------------------------
8 SHARED VOTING POWER
704,600
- -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
- -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
704,600
- -----------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
704,600
- -----------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- -----------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.8%
- -----------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
=================================================================
<PAGE>
<PAGE>
SCHEDULE 13D
- ------------------- -----------------
CUSIP No. 744287103 Page 10 of 20 Pages
- ------------------- -----------------
=================================================================
1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Neil H. Koffler
- -----------------------------------------------------------------
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 ITEMS 2(d) or 2(E) [ ]
- -----------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- -----------------------------------------------------------------
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
- -----------------------------------------------------------------
7 SOLE VOTING POWER
0
- ----------------------------------------------------------------
8 SHARED VOTING POWER
704,600
- -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
- -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
704,600
- -----------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
704,600
- -----------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- -----------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.8%
- -----------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
=================================================================
<PAGE>
<PAGE>
SCHEDULE 13D
- ------------------- -----------------
CUSIP No. 744287103 Page 11 of 20 Pages
- ------------------- -----------------
=================================================================
1 NAME OF REPORTING PERSON - S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Curtis G. Macnguyen
- -----------------------------------------------------------------
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 ITEMS 2(d) or 2(E) [ ]
- -----------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- -----------------------------------------------------------------
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
- -----------------------------------------------------------------
7 SOLE VOTING POWER
0
- ----------------------------------------------------------------
8 SHARED VOTING POWER
704,600
- -----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
- -----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
704,600
- -----------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
704,600
- -----------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
- -----------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.8%
- -----------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
=================================================================
<PAGE>
<PAGE> Page 12 of 20 Pages
AMENDMENT NO. 2
TO THE
SCHEDULE 13D
This statement constitutes Amendment No. 2 to the
Schedule 13D relating to the Common Stock, par value $0.01 per
share ("Common Stock"), of Proxima Corporation (the "Issuer")
filed by SC Fundamental Inc. ("SC"), The SC Fundamental Value
Fund, L.P. ("Fund"), SC Fundamental Value BVI, Inc. ("BVI Inc."),
SC Fundamental, LLC ("SCFLLC"), SC Fundamental Value BVI, Ltd.
("BVI Fund"), SC-BVI Partners, Gary N. Siegler ("Siegler") and
Peter M. Collery ("Collery") and adds Neil H. Koffler ("Koffler")
and Curtis G. Macnguyen ("Macnguyen") as members of a joint
filing group with the foregoing persons (collectively, the
"Reporting Persons").
Item 2. Identity and Background
Koffler is a citizen of the United States having a
business address at c/o SC Fundamental, LLC, 10 East 50th Street,
New York, New York 10022. The principal occupation of Koffler is
acting as an employee member of SCFLLC and as Vice President,
Treasurer and Secretary of 712 Advisory Services, Inc. Koffler
also serves as a director of the Issuer. During the last five
years, Koffler has not been (i) convicted in a criminal
proceeding (excluding traffic violations or similar misdemeanors)
or (ii) a party to a civil proceeding of a judicial or
administrative body of competent jurisdiction and as a result of
such proceeding has been 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.
Macnguyen is a citizen of the United States having a
business address at c/o SC Fundamental, LLC, 712 Fifth Avenue,
New York, New York 10019. The principal occupation of Macnguyen
is acting as an employee member of SCFLLC. During the last five
years, Macnguyen has not been (i) convicted in a criminal
proceeding (excluding traffic violations or similar misdemeanors)
or (ii) a party to a civil proceeding of a judicial or
administrative body of competent jurisdiction and as a result of
such proceeding has been 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.
<PAGE>
<PAGE> Page 13 of 20 Pages
Item 3. Source and Amount of Funds of Other Consideration
As of January 1, 1998, Koffler and Macnguyen became
members of SCFLLC and executed a binding term sheet relating to
the restructuring of the ownership of the entities which control
BVI Fund.
The aggregate purchase prices of the shares of the
Issuer's Common Stock ("Shares") purchased by the Reporting
Persons since the filing of the Amendment No. 1 to Schedule 13D
as reported in Item 5(c) of this Amendment No. 2 to Schedule 13D
were as follows:
Name of Reporting Person Aggregate Purchase Price
------------------------- ------------------------
Fund $ 207,367.89
BVI Inc. on behalf of BVI Ltd. $ 199,189.04
The Reporting Persons listed above purchased the Shares
reported herein as beneficially owned by them with working
capital of Fund and BVI Ltd. or with funds extended by brokerage
firms in connection with margin transactions effected for Fund
and BVI Ltd.
Item 5. Interest in Securities of the Issuer
(a) As of the close of business on February 19, 1998,
the Reporting Persons, by virtue of the language of Rule
13d-3(d)(1)(i), may be deemed to own beneficially in the
aggregate the number and percentage of the Issuer's Common Stock
set forth opposite their names below (based upon the number of
Shares that were reported to be outstanding in the Issuer's Form
10-Q as of December 28, 1997).
<PAGE>
<PAGE> Page 14 of 20 Pages
<TABLE>
<CAPTION>
=================================================================
Name Shares of Common Stock Percentage
- -----------------------------------------------------------------
<S> <C> <C>
SC Fundamental Inc. 360,085 5.0%
- -----------------------------------------------------------------
The SC Fundamental Value Fund, L.P. 360,085 5.0%
- -----------------------------------------------------------------
SC Fundamental Value BVI, Inc. 344,515 4.8%
- -----------------------------------------------------------------
Gary N. Siegler 704,600 9.8%
- -----------------------------------------------------------------
Peter M. Collery 704,600 9.8%
- -----------------------------------------------------------------
SC Fundamental, LLC 360,085 5.0%
- -----------------------------------------------------------------
SC-BVI Partners 344,515 4.8%
- -----------------------------------------------------------------
SC Fundamental Value BVI, Ltd. 344,515 4.8%
- -----------------------------------------------------------------
Neil H. Koffler 704,600 9.8%
- -----------------------------------------------------------------
Curtis Macnguyen 704,600 9.8%
=================================================================
</TABLE>
(b) Siegler and Collery, by virtue of their status as
principal members of SCFLLC, the general partner of Fund, and as
the controlling stockholders, directors and executive officers of
SC, the corporate member and manager of SCFLLC, may be deemed to
share with Fund, SCFLLC and SC the power to vote or direct the
vote and to dispose or to direct the disposition of shares of
Common Stock of which Fund is the direct beneficial owner.
Koffler and Macnguyen, by virtue of their status as employee
members of SCFLLC, the general partner of Fund, may be deemed to
share with Fund and SCFLLC the power to vote or direct the vote
and to dispose or to direct the disposition of shares of Common
Stock of which Fund is the direct beneficial owner.
Siegler and Collery, by virtue of their status as
controlling stockholders, directors and executive officers of BVI
Inc., the managing general partner of SC-BVI Partners, which is
the investment manager of BVI Fund, may be deemed to share with
BVI Inc., SC-BVI Partners and BVI Fund the power to vote or
direct the vote and to dispose or direct the disposition of
shares of Common Stock of which BVI Fund is the direct beneficial
owner. Koffler and Macnguyen, by virtue of their execution of a
binding term sheet relating to the restructuring of the ownership
of the entities which control BVI Fund, may be deemed to share
<PAGE>
<PAGE> Page 15 of 20 Pages
with BVI Fund the power to vote or direct the vote and to dispose
or direct the disposition of shares of Common Stock of which BVI
Fund is the direct beneficial owner. Because BVI Fund and SC-BVI
Partners could be deemed to share with BVI Inc. the power to vote
or direct the vote and the power to dispose or direct the
disposition of such shares of Common Stock (and as to which BVI
Inc. exercises such power), BVI Fund and SC-BVI Partners have
been added as Reporting Persons.
(c) The following table sets forth the transactions
effected by each of the Reporting Persons listed in Item 5(a)
during the past sixty days. Unless otherwise indicated, each of
the transactions set forth below reflects a purchase effected by
means of over-the-counter trading.
<TABLE>
<CAPTION>
=================================================================
BVI, Inc.
Price Per on behalf
Trade Date Share ($) Fund of BVI Ltd.
- -----------------------------------------------------------------
<S> <C> <C> <C>
01/30/98 8.0000 5,100 4,900
- -----------------------------------------------------------------
01/30/98 8.0221 5,200 5,000
- -----------------------------------------------------------------
02/05/98 7.9375 510 490
- -----------------------------------------------------------------
02/18/98 7.9840 9,950 9,550
- -----------------------------------------------------------------
02/19/98 7.9844 5,100 4,900
=================================================================
</TABLE>
As described in Item 3 above, as of January 1, 1998,
Koffler and Macnguyen became members of SCFLLC and executed a
binding term sheet relating to the restructuring of the ownership
of the entities which control BVI Fund and, therefore, have been
added as Reporting Persons.
Item 7. Materials to be Filed as Exhibits.
Exhibit A - Joint Filing Agreement dated February 24, 1998
among the Reporting Persons.
Exhibit B - List of officers and directors for SC
Fundamental, LLC, SC Fundamental BVI, Ltd. and SC-BVI Partners.
<PAGE>
<PAGE> Page 16 of 20 Pages
EXHIBIT INDEX
Exhibit Description
A Joint Filing Agreement dated
February 24, 1998 among the
Reporting Persons
<PAGE>
<PAGE> Page 17 of 20 Pages
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: February 24, 1998
SC FUNDAMENTAL INC.
By: /s/ Peter M. Collery
----------------------------------
Neil H. Koffler as Attorney-
in-Fact for Peter M. Collery
Vice President(*)
THE SC FUNDAMENTAL VALUE FUND, L.P.
By: SC FUNDAMENTAL, LLC, as General Partner
By: /s/ Peter M. Collery
----------------------------------
Neil H. Koffler as Attorney-
in-Fact for Peter M. Collery
Vice President(*)
SC FUNDAMENTAL, LLC
By: SC FUNDAMENTAL INC., as Manager
By: /s/ Peter M. Collery
----------------------------------
Neil H. Koffler as Attorney-
in-Fact for Peter M. Collery
Vice President(*)
SC FUNDAMENTAL VALUE BVI, INC.
By: /s/ Peter M. Collery
----------------------------------
Neil H. Koffler as Attorney-
in-Fact for Peter M. Collery
Vice President(*)
SC-BVI PARTNERS
By: SC FUNDAMENTAL VALUE BVI, INC.,
as Managing General Partner
By: /s/ Peter M. Collery
----------------------------------
Neil H. Koffler as Attorney-
in-Fact for Peter M. Collery
Vice President(*)
<PAGE>
<PAGE> Page 18 of 20 Pages
SC FUNDAMENTAL VALUE BVI, LTD.
BY: SC FUNDAMENTAL VALUE BVI, INC.,
as Managing General Partner
of Investment Manager
By: /s/ Peter M. Collery
----------------------------------
Neil H. Koffler as Attorney-
in-Fact for Peter M. Collery
Vice President(*)
/s/ Gary N. Siegler
- -------------------------------
Neil H. Koffler as Attorney
in-Fact for Gary N. Siegler(*)
/s/ Peter M. Collery
- -------------------------------
Neil H. Koffler as Attorney-
in-Fact for Peter M. Collery(*)
/s/ Neil H. Koffler
- -------------------------------
Neil H. Koffler
/s/ Curtis G. Macnguyen
- -------------------------------
Curtis G. Macnguyen
(*) Executed by Neil H. Koffler as Attorney-In-Fact for Peter M.
Collery and Gary N. Siegler. The Powers of Attorney for
Messrs. Collery and Siegler were filed as Exhibit A to
Amendment No. 5 to Schedule 13D relating to US Facilities
Corporation on August 4, 1995 and is hereby incorporated
herein by reference.
113865<PAGE>
<PAGE> Page 19 of 20 Pages
Exhibit A
JOINT FILING AGREEMENT
In accordance with Rule 13d-1(f) under the Securities
Exchange Act of 1934, as amended, the persons named below agree
to the joint filing on behalf of each of them of a statement on
Schedule 13D (including amendments thereto) with respect to the
Common Stock, par value $0.001 per share, of Proxima Corporation
and further agree that this Joint Filing Agreement be included as
an Exhibit to such joint filing. In evidence thereof, the
undersigned, hereby execute this Agreement this 24th day of
February, 1998.
Dated: February 24, 1998
SC FUNDAMENTAL INC.
By: /s/ Peter M. Collery
- ----------------------------
Neil H. Koffler as Attorney-
in-Fact for Peter M. Collery
Vice President(1)
THE SC FUNDAMENTAL VALUE FUND, L.P.
By: SC FUNDAMENTAL, LLC,
as General Partner
By: /s/ Peter M. Collery
- ------------------------------
Neil H. Koffler as Attorney-
in-Fact for Peter M. Collery
Vice President(1)
SC FUNDAMENTAL VALUE BVI, INC.
By: /s/ Peter M. Collery
- -----------------------------
Neil H. Koffler as Attorney-
in-Fact for Peter M. Collery
Vice President(1)
/s/ Gary N. Siegler
- -----------------------------
Neil H. Koffler as Attorney-in-
Fact for Gary N. Siegler(1)
<PAGE>
<PAGE> Page 20 of 20 Pages
/s/ Peter M. Collery
- -------------------------------
Neil H. Koffler as Attorney-in-
Fact for Peter M. Collery(1)
/s/ Neil H. Koffler
- ----------------------------
Neil H. Koffler
/s/ Curtis G. Macnguyen
- ----------------------------
Curtis G. Macnguyen
SC FUNDAMENTAL, LLC
By: SC Fundamental Inc., as
Manager
By: /s/ Peter M. Collery
- -------------------------
Neil H. Koffler as Attorney-
in-Fact for Peter M. Collery
Vice President(1)
SC FUNDAMENTAL VALUE BVI, LTD. SC-BVI PARTNERS
By: SC Fundamental Value BVI, By: SC Fundamental Value BVI,
Inc., as managing general Inc., as managing general
partner of investment partner
manager
By: /s/ Peter M. Collery By: /s/ Peter M. Collery
- ------------------------------ -----------------------------
Neil H. Koffler as Attorney- Neil H. Koffler as Attorney-
in-Fact for Peter M. Collery, in-Fact for Peter M. Collery,
Vice President(1) Vice President(1)
(1) Executed by Neil H. Koffler as Attorney-in-Fact for Peter M.
Collery and Gary N. Siegler. The Powers of Attorney for
Messrs. Collery and Siegler were filed as Exhibit A to
Amendment No. 5 to the Schedule 13D relating to the US
Facilities Corporation on August 4, 1995 and are hereby
incorporated herein by reference.
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