UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
Amendment No. 6
PACE HEALTH MANAGEMENT SYSTEMS, INC.
(Name of Issuer)
Convertible Preferred Stock, Series A
(Title Class of Securities)
693723108
(CUSIP Number)
Mr. John Pappajohn
Equity Dynamics, Inc.
2116 Financial Center
Des Moines, Iowa 50309
515-244-5746
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
December 30, 1997
(Date of Event which Requires Filing of this Statement)
Check the following box if a fee is being paid with this
statement: / /
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
John Pappajohn ###-##-####
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) / /
(b) / /
(3) SEC USE ONLY
(4) SOURCE OF FUNDS
PF
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e)
/ /
(6) CITIZENSHIP OR PLACE OR ORGANIZATION
U.S.A.
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING
PERSON WITH:
(7) SOLE VOTING POWER
1,719,186
(8) SHARED VOTING POWER
0
(9) SOLE DISPOSITIVE POWER
1,719,186
(10) SHARED DISPOSITIVE POWER
0
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
1,719,186
(12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
/ /
(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
16.32%
(14) TYPE OF REPORTING PERSON
IN
SCHEDULE 13D
This amends and supplements the Statement on Schedule 13D filed
with the Commission by John Pappajohn (the "Purchaser") with
respect to his ownership of Common Stock (the "Common Stock"), no
par value per share, Convertible Preferred Stock, Series A, no par
value per share ("Series A Preferred Stock") and Warrants to
purchase shares of Common Stock (the "Warrants") of PACE Health
Management Systems, Inc., an Iowa Corporation (the "Company").
Unless otherwise defined herein, all capitalized items used herein
shall have the meaning ascribed to them in the Statement.
Item 5. Interest in Securities of the Issuer
(a) As of the date of this Statement, the Purchaser
beneficially owned an aggregate of 508,519 shares of Common Stock,
500,000 shares of Series A Preferred Stock and Warrants to
purchase another 710,667 shares of Common Stock. Such shares of
Common Stock and the Warrants represent 16.32% of the outstanding
Common Stock of the Company based upon 10,532,451 shares of Common
Stock actually outstanding as of December 30, 1997, assuming
conversion of all of the Series A Preferred Stock and the
Purchaser's Warrants into Common Stock.
b) The Purchaser has sole power to vote or direct the vote
and sole power to dispose or direct the disposition of all shares
of Common Stock and Series A Preferred Stock that he owns.
(c) On December 30, 1997 the Purchaser bought 125,000 shares
of Series A Preferred Stock in a private placement of the Company
for an aggregate purchase price of $125,000 at an average price of
$1.00 per share. In connection with this purchase, the Purchaser
received Warrants to purchase 62,500 shares of Common Stock at
$0.50 per share.
On December 30, 1997 the Purchaser received an
additional 160,714 shares of Series A Preferred Stock when the
Company's Board of Directors adopted a resolution reducing the
price per share for all prior Series A Preferred Stock purchased
from $1.75 to $1.00. In addition, the resolution stated that each
share of Series A Preferred Stock would be convertible into 2
shares of Common Stock.
On December 30, 1997, an additional 437,501 shares
of Common Stock are purchasable as a result of anti-dilution
adjustments to warrants previously granted to the Purchaser. The
anti-dilution adjustments occurred in connection with the
resolution by the Company's Board of Directors that reduced the
subscription price and conversion terms of the Company's Series A
Preferred Stock.
(d - e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or
Relationships with Respect to Securities of Issuer
Not applicable.
Item 7. Material to be Filed as Exhibits
Not applicable.
Item 8. Certification and Signature:
After reasonable inquiry and to the best of my knowledge and
belief, the undersigned certifies that the information set forth
in this Statement is true, complete and correct.
Dated: January 9, 1997
/s/ John Pappajohn
- - - -------------------
John Pappajohn
