SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. _____________ )*
Liberty Technologies, Inc.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, par value $.01 per share
(Title of Class of Securities)
53128 10 3
- --------------------------------------------------------------------------------
(CUSIP Number)
Walter M. Epstein, Esq.
Rubin Baum Levin Constant & Friedman
30 Rockefeller Plaza, 29th Floor
New York, New York 10112
(212) 698-7700
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to Receive
Notices and Communications)
June 26, 1997
- --------------------------------------------------------------------------------
(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: [ ].
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
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).
<PAGE>
- -------------------------------------------------------------------------------
CUSIP NO. 531281 10 3 PAGE 2 of 10
- -------------------------------------------------------------------------------
SCHEDULE 13D
- -------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
Atalanta Selective Fund Number Six Limited Partnership
- -------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ X ]
- -------------------------------------------------------------------------------
3. SEC USE ONLY
- -------------------------------------------------------------------------------
4. SOURCE OF FUNDS*
WC
- -------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED TO
ITEMS 2(D) OR 2(E) [ ]
- -------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Nevada
- -------------------------------------------------------------------------------
NUMBER OF 7. SOLE VOTING POWER 380,200 (1)
SHARES ------------------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER 0
OWNED BY ------------------------------------------------
EACH 9. SOLE DISPOSITIVE POWER 380,200 (1)
REPORTING ------------------------------------------------
PERSON WITH 10. SHARED DISPOSITIVE POWER 0
- -------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
380,200 (1)
- -------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
- -------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.6%
- -------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSONS*
PN
- -------------------------------------------------------------------------------
* 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.
(1) L. MARK NEWMAN IS THE OWNER OF A 70% INTEREST IN, AND THE GENERAL PARTNER
OF, ATALANTA SELECTIVE FUND NUMBER SIX LIMITED PARTNERSHIP.
<PAGE>
- -------------------------------------------------------------------------------
CUSIP NO. 531281 10 3 PAGE 3 of 10
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
L. Mark Newman
- -------------------------------------------------------------------------------
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ X ]
- -------------------------------------------------------------------------------
3. SEC USE ONLY
- -------------------------------------------------------------------------------
4. SOURCE OF FUNDS*
Not Applicable
- -------------------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED TO
ITEMS 2(D) OR 2(E) [ ]
- -------------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- -------------------------------------------------------------------------------
NUMBER OF 7. SOLE VOTING POWER 0
SHARES ------------------------------------------------
BENEFICIALLY 8. SHARED VOTING POWER 380,200 (1)
OWNED BY ------------------------------------------------
EACH 9. SOLE DISPOSITIVE POWER 0
REPORTING ------------------------------------------------
PERSON WITH 10. SHARED DISPOSITIVE POWER 380,200 (1)
- -------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
380,200 (1)
- -------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* [ ]
- -------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.6%
- -------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSONS*
IN
- -------------------------------------------------------------------------------
* 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.
(1) 380,200 SHARES OF COMMON STOCK ARE OWNED BY ATALANTA SELECTIVE FUND NUMBER
SIX LIMITED PARTNERSHIP. L. MARK NEWMAN IS THE OWNER OF A 70% IN, AND THE
GENERAL PARTNER OF, ATALANTA SELECTIVE FUND NUMBER SIX LIMITED
PARTNERSHIP.
<PAGE>
- -------------------------------------------------------------------------------
CUSIP NO. 531281 10 3 PAGE 4 of 10
- -------------------------------------------------------------------------------
ITEM 1. SECURITY AND ISSUER
This statement on Schedule 13D relates to the Common Stock, par value $.01
per share (the "Common Stock"), of Liberty Technologies, Inc., a Pennsylvania
corporation ("Liberty"). The principal executive offices of Liberty are located
at 555 North Lane, Lee Park, Conshohocken, Pennsylvania.
ITEM 2. IDENTITY AND BACKGROUND
The information set forth below is given with respect to (i) Atalanta
Services Fund Number Six Limited Partnership, a Nevada Limited Partnership (the
"Partnership"), and (ii) L. Mark Newman (collectively, the "Reporting Persons")
on Annex A. On Annex A, column (a) indicates the name of each person; column (b)
indicates the address of the principal business and the address of the principal
office of each entity or the business address of each natural person; column (c)
indicates each such entity's principal business or such natural person's present
principal occupation or employment and the name, principal business and address
of any corporation or other organization in which such employment is conducted
as applicable; column (d) indicates whether or not, during the last five years,
such person has been convicted in a criminal proceeding (excluding traffic
violations or similar misdemeanors) and, if so, the dates, nature of conviction,
name and location of court, and penalty imposed, or other disposition of the
case; column (e) indicates whether or not, during the last five years, such
person was a party to a civil proceeding of a judicial or administrative body of
competent jurisdiction and as a result of such proceeding was 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, and, if so, identifies and describes
such proceedings and summarizes the terms of such judgment, decree or final
order; and column (f) indicates, in the case of any natural person, the
citizenship of such person.
The Reporting Persons do not admit they constitute a "group" for purposes
of Section 13(d) under the Securities Exchange Act of 1934, as amended (the
"Exchange Act").
<PAGE>
- -------------------------------------------------------------------------------
CUSIP NO. 531281 10 3 PAGE 5 of 10
- -------------------------------------------------------------------------------
Annex A
<TABLE>
<CAPTION>
=====================================================================================================================
(a) (b) (c) (d) (e) (f)
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Atalanta Selective Call Box 10,001 Investments in equity and convertible No No N/A
Fund Number Six Incline Village, NV 89450 securities.
Limited Partnership
- ---------------------------------------------------------------------------------------------------------------------
L. Mark Newman P.O. Box 5685 Mr. Newman is a private investor who, for No No United
Incline Village, NV 89450 more than the past five years, has been States
Chairman of the Board and Chief Executive
Officer of Atalanta Investment Company,
Inc., a company principally engaged in the
business of providing investment advisory
services. Mr. Newman also owns an
approximately 70% interest in, and is the
General Partner of, Atalanta Selective Fund
Number Six Limited Partnership.
=====================================================================================================================
</TABLE>
<PAGE>
- -------------------------------------------------------------------------------
CUSIP NO. 531281 10 3 PAGE 6 of 10
- -------------------------------------------------------------------------------
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
The Partnership purchased the following shares of Common Stock on the
following dates for the following amounts:
- ------------------------------------------------------------------------------
Shares Date Amount
- ------------------------------------------------------------------------------
1000 11/19/96 2,655.00
- ------------------------------------------------------------------------------
5000 11/22/96 13,125.00
- ------------------------------------------------------------------------------
8000 12/5/96 25,000.00
- ------------------------------------------------------------------------------
6000 12/6/96 16,500.00
- ------------------------------------------------------------------------------
2000 12/10/96 5,935.00
- ------------------------------------------------------------------------------
9000 12/18/96 27,000.00
- ------------------------------------------------------------------------------
11000 1/13/97 35,442.00
- ------------------------------------------------------------------------------
5000 1/24/97 18,125.00
- ------------------------------------------------------------------------------
5000 1/31/97 18,125.00
- ------------------------------------------------------------------------------
10000 5/06/97 26,370.00
- ------------------------------------------------------------------------------
10000 5/07/97 25,825.00
- ------------------------------------------------------------------------------
5000 5/08/97 12,887.50
- ------------------------------------------------------------------------------
16,000 5/15/97 43,175.00
- ------------------------------------------------------------------------------
40,000 5/21/97 108,700.00
- ------------------------------------------------------------------------------
139,200 6/26/97 404,376.00
==============================================================================
The purchase price of these shares of Common Stock were paid for with
Partnership funds. None of these shares of Common Stock were purchased with
borrowed funds.
ITEM 4. PURPOSE OF TRANSACTION
The Reporting Persons acquired the Common Stock reported hereby as an
investment. The Reporting Persons may purchase additional shares of Common Stock
in the open market or in privately negotiated transactions, and may sell shares
of Common Stock from time to time in open market or in privately negotiated
transactions. The Reporting Persons may also enter into short sales or other
hedging transactions with broker-dealers or other financial institutions.
Transactions in respect of the shares of Common Stock may be effected from time
to time based upon the capital requirements of any of the Reporting Persons and
the market price of the shares.
Except as set forth in this Item 4, none of the Reporting Persons have any
present plans or proposals that relate to or would result in: (i) the
acquisition by any person of additional securities of Liberty, or the
disposition of securities of Liberty; (ii) an extraordinary corporate
transaction, such as a merger, reorganization or liquidation, involving Liberty
or any of its subsidiaries; (iii) a sale or transfer of a material amount of
assets of Liberty or any of its subsidiaries; (iv) any change in the present
Board of Directors or management of Liberty, including any plans or proposals to
change the number or term of Director or to fill any vacancies on the Board; (v)
any material change in the present capitalization or dividend policy of Liberty;
(vi) any other material change in Liberty's business or corporate structure;
(vii) changes in
<PAGE>
- -------------------------------------------------------------------------------
CUSIP NO. 531281 10 3 PAGE 7 of 10
- -------------------------------------------------------------------------------
Liberty's Certificate of Incorporation, By-laws or instruments corresponding
thereto or other actions which may impede the acquisition of control of Liberty
by any person; (viii) causing a class of securities 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;
(ix) a class of equity securities of Liberty becoming eligible for termination
of registration pursuant to Section 12(g)(4) of the Exchange Act; or (x) any
action similar to those enumerated above.
Each of the Reporting Persons reserves the right to determine in the future
whether to change the purpose or purposes described above or whether to adopt
plans or proposals of the type specified above.
<PAGE>
- -------------------------------------------------------------------------------
CUSIP NO. 531281 10 3 PAGE 8 of 10
- -------------------------------------------------------------------------------
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
According to Liberty's most recent Quarterly Report on Form 10-Q for the
quarter ended March 31, 1997, as of May 13, 1997, Liberty had 5,004,615 shares
of Common Stock issued and outstanding. The Partnership holds of record and may
be, deemed to "beneficially own," within the meaning of Exchange Act, 380,200
shares of Common Stock representing "beneficial ownership," within the meaning
of the Exchange Act, of approximately 7.6% of the total Common Stock
outstanding.
The Partnership has sole power to vote, dispose of and direct the
disposition of all of the shares of Common Stock held by the Partnership. Mr.
Newman is the owner of a 70% interest in, and the General Partner of, the
Partnership. Accordingly, Mr. Newman may be deemed the "beneficial owner,"
within the meaning of the Exchange Act, of the Common Stock held by the
Partnership. (See Item 2)
During the sixty (60) days prior to the date of this statement was filed,
the Partnership purchased 220,200 shares of Common Stock for $621,333.50. (See
Item 3)
No entity other than the Partnership is known to have the right to receive
or the power to direct the receipt of dividends from or the proceeds from the
sale of the shares of Common Stock covered by this Schedule 13D.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS
WITH RESPECT TO SECURITIES OF THE ISSUER
None.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
The following Exhibits are filed as part of this statement on Schedule 13D:
Exhibit A: Joint Filing Agreement dated July 7, 1997 between Atalanta
Selective Fund Number Six Limited Partnership and L. Mark Newman.
<PAGE>
- -------------------------------------------------------------------------------
CUSIP NO. 531281 10 3 PAGE 9 of 10
- -------------------------------------------------------------------------------
SIGNATURE
After reasonable inquiry and to the best knowledge and belief of the
undersigned, the undersigned does hereby certify that the information set forth
in this statement is true, complete and correct.
Dated: July 7, 1997
ATALANTA SELECTIVE FUND NUMBER SIX LIMITED
PARTNERSHIP
By: /s/ L. Mark Newman
---------------------------------------
L. Mark Newman, General Partner
/s/ L. Mark Newman
------------------------------------------
L. Mark Newman, individually
<PAGE>
- -------------------------------------------------------------------------------
CUSIP NO. 531281 10 3 PAGE 10 of 10
- -------------------------------------------------------------------------------
EXHIBIT A
JOINT FILING AGREEMENT
In accordance with Rule 13d-1(f) under the Securities Exchange Act of 1934,
as amended, the undersigned hereby 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 $0.01 per share, of Liberty Technologies,
Inc. and that this Agreement be included as an Exhibit to such joint filing.
IN WITNESS WHEREOF, the undersigned hereby execute this Agreement this 7th
day of July, 1997.
ATALANTA SELECTIVE FUND NUMBER SIX LIMITED
PARTNERSHIP
By: /s/ L. Mark Newman
----------------------------------------
L. Mark Newman, General Partner
/s/ L. Mark Newman
-------------------------------------------
L. Mark Newman, individually
