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OMB APPROVAL
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OMB Number 3235-0104
Expires: April 30, 1997
Estimated average burden
hours per response ....... 0.5
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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 3
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
Halis Jeffrey S.
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(Last) (First) (Middle)
500 Park Avenue, 5th Floor
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(Street)
New York New York 10022
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(City) (State) (Zip)
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2. Date of Event Requiring Statement (Month/Day/Year)
11/14/97
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3. IRS or Social Security Number of Reporting Person (Voluntary)
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4. Issuer Name and Ticker or Trading Symbol
PriceSmart, Inc. (PSMT)
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5 Relationship of Reporting Person to Issuer
(Check all applicable)
[X ] Director [ ] 10% Owner
[ ] Officer (give title below) [ ] Other (specify below)
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6. If Amendment, Date of Original (Month/Year)
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7. Individual or Joint/Group Filing (Check applicable line)
X* Form Filed by One Reporting Person
___ Form Filed by More Than One Reporting Person
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Table I -- Non-Derivative Securities Beneficially Owned
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<TABLE>
<CAPTION>
3. Ownership Form:
2. Amount of Securities Direct (D) or
1. Title of Security Beneficially Owned Indirect (I) 4. Nature of Indirect Beneficial Ownership
(Instr. 4) (Instr. 4) (Instr. 5) (Instr.5)
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<S> <C> <C> <C>
Common Stock 516,875* I* By partnerships and corporations*
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Common Stock 1,250 D
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</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
(Print or Type Responses)
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FORM 3 (continued)
Table II -- Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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<TABLE>
<CAPTION>
5. Owner-
3. Title and Amount of Securities ship
Underlying Derivative Security Form of
2. Date Exercisable (Instr. 4) Derivative
and Expiration Date --------------------------------- 4. Conver- Security:
(Month/Day/Year) Amount sion or Direct 6. Nature of
---------------------- or Exercise (D) or Indirect
Date Expira- Number Price of Indirect Beneficial
1. Title of Security Exer- tion of Derivative (I) Ownership
(Instr. 4) cisable Date Title Shares Security (Instr.5) (Instr. 5)
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<S> <C> <C> <C> <C> <C> <C> <C>
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</TABLE>
Explanation of Responses: *308,525 of the shares reported herein are owned by
Tyndall Partners, L.P., a Delaware limited partnership. 128,925 of the shares
reported herein are owned by Tyndall Institutional Partners, L.P., a Delaware
limited partnership. 49,625 of the shares reported herein are owned by Madison
Avenue Partners, L.P., a Delaware limited partnership. 29,800 of the shares
reported herein are owned by Halo International, Ltd., a company organized under
the laws of the Cayman Islands. Jeffrey S. Halis possesses sole voting and
investment control over all securities owned by Tyndall Partners, L.P., Tyndall
Institutional Partners, L.P., Madison Avenue Partners, L.P. and Halo
International, Ltd., respectively. In addition, Jeffrey S. Halis possesses sole
voting and investment control over the securities owned by him individually.
/s/ Jeffrey S. Halis 11/21/97
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**Signature of Reporting Person Date
Intentional misstatements or omissions of facts constitute Federal Criminal
Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient. See Instruction 6 for procedure.