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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
Amendment #1
Biofield Corporation
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
090591108
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(CUSIP Number)
David J. Greenwald, Esq.
Goldman, Sachs & Co.
85 Broad Street
New York, New York 10004
(212) 902-1000
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(Name, address and telephone number of person authorized
to receive notices and communications)
June 30, 1996
-----------------------------
(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: ______
Check the following box if a fee is being paid with this statement: ______
Page 1
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CUSIP NO.
090591108
- -----------
- --------------------------------------------------------------------------------
1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Goldman, Sachs & Co.
- --------------------------------------------------------------------------------
2. Check the Appropriate Box if a Member of a Group
(a) X
----
(b) _____
- --------------------------------------------------------------------------------
3. SEC Use Only
- --------------------------------------------------------------------------------
4. Source of Funds
WC
- --------------------------------------------------------------------------------
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 7 Sole Voting Power
Shares
Beneficially -0-
---------------------------
Owned By 8 Shared Voting Power
Each
Reporting 2,160,793
----------------------------
Person With 9 Sole Dispositive Power
-0-
----------------------------
10 Shared Dispositive Power
2,160,793
----------------------------
11. Aggregate Amount Beneficially Owned by Each Reporting Person
2,160,793
- -----------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares
- -----------------------------------------------------------------
13. Percent of Class Representing by Amount in Row (11)
28.7%
- -----------------------------------------------------------------
14. Type of Reporting Person
BD-PN-IA
- -----------------------------------------------------------------
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CUSIP NO.
090591108
- ---------
- --------------------------------------------------------------------------------
1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
The Goldman Sachs Group, 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
- --------------------------------------------------------------------------------
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 7 Sole Voting Power
Shares
Beneficially -0-
--------------------------
Owned By 8 Shared Voting Power
Each
Reporting 2,160,793
Person With --------------------------
9 Sole Dispositive Power
-0-
--------------------------
10 Shared Dispositive Power
2,160,793
--------------------------
11. Aggregate Amount Beneficially Owned by Each Reporting Person
2,160,793
- -----------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares
- ----------------------------------------------------------------- _____
13. Percent of Class Representing by Amount in Row (11)
28.7%
- -----------------------------------------------------------------
14. Type of Reporting Person
HC-PN
- -----------------------------------------------------------------
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- -----------
CUSIP NO.
090591108
- ---------
- --------------------------------------------------------------------------------
1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
GS Advisors, 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
- --------------------------------------------------------------------------------
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 7 Sole Voting Power
Shares
Beneficially -0-
----------------------------
Owned By 8 Shared Voting Power
Each
Reporting 1,944,720
----------------------------
Person With 9 Sole Dispositive Power
-0-
----------------------------
10 Shared Dispositive Power
1,944,720
----------------------------
11. Aggregate Amount Beneficially Owned by Each Reporting Person
1,944,720
- ----------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares
- ------------------------------------------------------------------ ______
13. Percent of Class Representing by Amount in Row (11)
26.2%
- ------------------------------------------------------------------
14. Type of Reporting Person
PN
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- -----------
CUSIP NO.
090591108
- -----------
- --------------------------------------------------------------------------------
1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
GS Capital Partners, L.P.
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2. Check the Appropriate Box if a Member of a Group
(a) X
----
(b)____
- --------------------------------------------------------------------------------
3. SEC Use Only
- --------------------------------------------------------------------------------
4. Source of Funds
WC
- --------------------------------------------------------------------------------
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 7 Sole Voting Power
Shares
Beneficially -0-
Owned By -----------------------
Each 8 Shared Voting Power
Reporting
Person With 1,944,720
-----------------------
9 Sole Dispositive Power
-0-
-----------------------
10 Shared Dispositive Power
1,944,720
-----------------------
11. Aggregate Amount Beneficially Owned by Each Reporting Person
1,944,720
- ------------------------------------------------------------------
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares
------
- ------------------------------------------------------------------
13. Percent of Class Representing by Amount in Row (11)
26.2%
- ------------------------------------------------------------------
14. Type of Reporting Person
PN
- ------------------------------------------------------------------
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Amendment No. 1 to
Schedule 13D
Relating to the Common Stock of
Biofield Corp.
GS Capital Partners, L.P. ("GSCP"), GS Advisors, L.P. ("GS Advisors,
L.P."), Goldman, Sachs & Co. ("Goldman Sachs") and The Goldman Sachs Group, L.P.
("GS Group" and, together with GSCP, GS Advisors, L.P. and Goldman Sachs, the
"Filing Persons")* hereby amend the statement on Schedule 13D (the "Schedule
13D"), dated March 19, 1996, filed with respect to the common stock, par value
$.001 per share (the "Common Stock"), of Biofield Corp., a Delaware corporation
(the "Company"). Unless otherwise indicated, all capitalized terms not
otherwise defined herein shall have the same meanings as those set forth in the
Schedule 13D.
____________________________
* Neither the present filing nor anything contained herein shall be construed as
an admission that any Filing Person constitutes a "person" for any purpose
other than Section 13(d) of the Securities Exchange Act of 1934.
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ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
------------------------------------
Item 5(a) is hereby amended as follows:
(a) As described in Item 3, the Limited Partnerships purchased Securities
Units consisting of an aggregate of 1,777,778 shares of Series C Preferred
Stock, 888,891 Series D Warrants and 888,887 Adjustable Warrants pursuant to the
Purchase Agreement and 200,000 shares of Common Stock in the IPO. The Company
effected a 2.04-for-one reverse stock split as of February 26, 1996. Upon the
completion of the IPO: (i) each share of Series C Preferred Stock automatically
converted into 0.4902 shares of Common Stock and (ii) each Warrant automatically
became exercisable for 0.4902 shares of Common Stock. Under the Purchase
Agreement, the Limited Partnerships had the right, upon the occurrence of
certain events, to receive warrants to purchase an aggregate of 217,865 shares
of Common Stock at an exercise price of $9.18 per share (the "Additional
Adjustable Warrants", and the term "Adjustable Warrants" includes such
Additional Adjustable Warrants). One of those events occurred on June 30, 1996,
and accordingly, the Limited Partnerships acquired the 217,865 Additional
Adjustable Warrants as of that date. As a result, as of June 30, 1996, GSCP
beneficially owned 964,320 shares of Common Stock, Series D Warrants to purchase
392,160 shares of Common Stock at an exercise price of $12.24 per share and
Adjustable Warrants to purchase 588,240 shares of Common Stock at an exercise
price of $9.18 per share. In its Form 10-Q for the quarterly period ended March
31, 1996, the Company disclosed that 6,431,153 shares of Common Stock were
outstanding. Based on the foregoing, GSCP owns approximately 15% of the
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outstanding shares of Common Stock. Assuming GSCP exercises all of its
Warrants, but that no other Warrants are exercised, GSCP would own 26.2% of the
outstanding shares of Common Stock. Assuming that all of the outstanding
Warrants are exercised (including the Warrants owned by GSCP), GSCP would own
approximately 19.5% of the outstanding shares of Common Stock.
Goldman Sachs and GS Group may be deemed to hold through the Limited
Partnerships, for purposes of this Statement, the beneficial ownership of
1,071,464 shares of Common Stock, Series D Warrants to purchase 435,733 shares
of Common Stock at an exercise price of $12.24 per share and Adjustable Warrants
to purchase 653,596 shares of Common Stock at an exercise price of $9.18 per
share. Such number of shares of Common Stock represent approximately 16.7% of
the outstanding shares of Common Stock. Assuming that the Limited Partnerships
exercise all of their Warrants, but that no other Warrants are exercised,
Goldman Sachs and GS Group would beneficially own approximately 28.7% of the
outstanding shares of Common Stock. Assuming that all of the outstanding
Warrants are exercised (including the Warrants owned by the Limited
Partnerships), Goldman Sachs and GS Group would beneficially own 21.7% of the
outstanding shares of Common Stock.
As described in Item 4, under the Purchase Agreement the Other Investors
have agreed to vote all of the shares of Common Stock of the Company owned by
them for the election of GSCP's nominee for Board Member. Based on the
information contained in the registration statement relating to the IPO and
assuming that the Other Investors continue to hold all of the Securities Units
acquired pursuant to the Purchase
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Agreement and do not otherwise beneficially own any shares of Common Stock,
then, as of December 31, 1995, the Other Investors own in the aggregate
approximately 2,644,563 shares of Common Stock (approximately 41.1% of the
outstanding shares of Common Stock) and 696,677 Warrants (including 139,327
Additional Adjustable Warrants acquired by the Other Investors as of June 30,
1996). Assuming the Other Investors exercise all of their Warrants, but that no
other Warrants are exercised, the Other Investors would beneficially own
approximately 46.9% of the outstanding shares of Common Stock. Assuming that all
of the outstanding Warrants are exercised (including the Warrants owned by the
Limited Partnerships and Other Investors), the Other Investors would own
approximately 33.5% of the outstanding shares of Common Stock. Other than as set
forth in the registration statement relating to the IPO, the Filing Persons have
no information regarding the current holdings of the Investors.
None of the Filing Persons and to the knowledge of each of the Filing
Persons, none of the Limited Partnerships that is not a Filing Person
beneficially owns any shares of Common Stock other than as set forth herein.
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SIGNATURE
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After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth is true, complete and correct.
Dated: July 3, 1996
GOLDMAN, SACHS & CO.
By: /s/ Richard A. Friedman
-----------------------------
Name: Richard A. Friedman
Title: General Partner
THE GOLDMAN SACHS GROUP, L.P.
By: /s/ Richard A. Friedman
-----------------------------
Name: Richard A. Friedman
Title: General Partner
GS ADVISORS, L.P.
By: GS Advisors, Inc., its general partner
By: /s/ Richard A. Friedman
-----------------------------
Name: Richard A. Friedman
Title: President
GS CAPITAL PARTNERS, L.P.
By: GS ADVISORS, L.P., its general partner
By: GS Advisors, Inc., its general partner
By: /s/ Richard A. Friedman
-----------------------------
Name: Richard A. Friedman
Title: President
