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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
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
[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5
obligations may continue. See Instruction 1(b).
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1. Name and Address of Reporting Person*
The Goldman Sachs Group, L.P.
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(Last) (First) (Middle)
85 Broad Street
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(Street)
New York, NY 10004
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
Coram Healthcare Corporation
(CRH)
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3. I.R.S. Identification Number of Reporting Person, if an entity (voluntary)
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4. Statement for Month/Year
December/1998
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5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
[ ] Director [ X ] 10% Owner
[ ] Officer (give title below) [ ] Other (specify below)
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7. Individual or Joint/Group Filing (Check Applicable Line)
[ ] Form filed by One Reporting Person
[ X ] Form filed by More than One Reporting Person
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<TABLE>
<CAPTION>
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Table I -- Non-Derivative Securities Acquired, Disposed of, |
or Beneficially Owned |
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| | | | |6. | |
| | | 4. |5. |Owner- | |
| | | Securities Acquired (A) or |Amount of |ship | |
| | 3. | Disposed of (D) |Securities |Form: |7. |
| | Transaction| (Instr. 3, 4 and 5) |Beneficially |Direct |Nature of |
|2. | Code | -------------------------------|Owned at End |(D) or |Indirect |
1. |Transaction | (Instr. 8) | | (A) | |of Month |Indirect |Beneficial|
Title of Security |Date | -----------| Amount | or | Price |(Instr. 3 |(I) |Ownership |
(Instr. 3) |(mm/dd/yy) | Code | V | | (D) | |and 4) |(Instr.4)|(Instr. 4)|
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
| | | | | | | | | |
| | | | | | | | | |
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| | | | | | | | | |
| | | | | | | | | |
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</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction
4(b)(v).
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FORM 4 (continued)
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<CAPTION>
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Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned |
(e.g., puts, calls, warrants, options, convertible securities) |
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| | | | | | | |9. |10. | |
| | | | | | | |Number |Owner-| |
| | | | | | | |of |ship | |
|2. | | | | | | |Deriv- |of | |
|Conver- | | | 5. | |7. | |ative |Deriv-|11. |
|sion | | | Number of | |Title and Amount | |Secur- |ative |Nature|
|or | | | Derivative |6. |of Underlying |8. |ities |Secur-|of |
|Exer- | |4. | Securities |Date |Securities |Price |Bene- |ity: |In- |
|cise |3. |Trans- | Acquired (A) |Exercisable and |(Instr. 3 and 4) |of |ficially|Direct|direct|
|Price |Trans- |action | or Disposed |Expiration Date |------------------------|Deriv- |Owned |(D) or|Bene- |
1. |of |action |Code | of (D) |(Month/Day/Year) | |Amount |ative |at End |In- |ficial|
Title of |Deriv- |Date |(Instr | (Instr. 3, |-----------------| |or |Secur- |of |direct|Owner-|
Derivative |ative |(Month/ |8) | 4 and 5) |Date |Expira- | |Number |ity |Month |(I) |ship |
Security |Secur- |Day/ |------ | ------------ |Exer- |tion | |of |(Instr. |(Instr. |(Instr|(Instr|
(Instr. 3) |ity |Year) |Code |V| (A) | (D) |cisable |Date |Title |Shares |5) |4) |4) |4) |
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Common Stock | | | | | | | | | | | | | | |
Warrants | | | | | | | | | | | | | | |
(right to buy) |$22.125 |12/21/98| P | | 249 | | Immed. |07/11/99|Common Stock | 249| $.0004 | 249 | 01 | 01 |
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Series B | | | | | | | | | | | | | | |
Convertible | | | | | | | | | | | | | | |
Subordinated | | | | | | | | | | | | | | |
Notes | $3.00 | | | | | | Immed. |04/15/08|Common Stock |13,320,844| | 02 | 02 | 02 |
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Common Stock | | | | | | | | | | | | | | |
Warrants | | | | | | | | | | | | | | |
(right to buy) | $.001 | | | | | | Immed. |10/13/00|Common Stock | 178,427| | 02 | 02 | 02 |
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Common Stock | | | | | | | | | | | | | | |
Warrants (03) | | | | | | | | | | | | | | |
(right to buy) | $.001 | | | | | | Immed. | 03 |Common Stock | 863,588| |02 & 03 |02&03 |02&03 |
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</TABLE>
Instruction 4(b)(v) list of other Reporting Persons:
This statement is being filed by Goldman Sachs Credit Partners, L.P. ("GS Credit
Partners"), Goldman Sachs Global Holdings L.L.C. ("GS Global Holdings"), The
Goldman Sachs Group, L.P. ("GS Group") and Goldman, Sachs & Co. ("Goldman
Sachs", and together with GS Credit Partners, GS Global Holdings and GS Group,
the "Reporting Persons"). The principal business address of each of GS Global
Holdings, GS Group and Goldman Sachs is 85 Broad Street, New York, New York
10004. The principal business address of GS Credit Partners is Conyers, Dill &
Pearman, Church Street, Hamilton HM CX, Bermuda.
Explanation of Responses:
01: On December 21, 1998, Goldman Sachs acquired warrants giving Goldman Sachs
the right to acquire 249 shares of Common Stock of Coram Healthcare Corporation
(the "Company"). These warrants may be deemed to be beneficially owned directly
by Goldman Sachs and may be deemed to be beneficially owned indirectly by GS
Group. Without admitting any legal obligation, Goldman Sachs will remit
appropriate profits, if any, to the Company. GS Group disclaims beneficial
ownership of the securities reported herein except to the extent of its
pecuniary interest therein.
02: Goldman Sachs, GS Group and GS Global Holdings may be deemed to own
beneficially and indirectly in the aggregate 13,320,844 shares of Common Stock
by reason of the ownership by GS Credit Partners of (a) $30,970,375.22 principal
amount of Series B convertible Subordinated Notes of the Company due 2008
("Convertible Notes") issued pursuant to the Securities Exchange Agreement dated
May 6, 1998 (the "Securities Exchange Agreement") which are convertible into
10,323,458 shares of Common Stock and (b) $8,992,158.80 principal amount of
Convertible Notes issued pursuant to the Securities Exchange Agreement and held
subject to a risk participation agreement ("Risk Participation Notes") which are
convertible into 2,997,386 shares of Common Stock. GS Credit Partners and
certain other parties (collectively the "Noteholders") entered into the
Securities Exchange Agreement with the Company and Coram, Inc. GS Group is the
99% owner of GS Global Holdings. GS Global Holdings is the general partner of GS
Credit Partners. GS Group is the general partner of and owns a 99% interest in
Goldman Sachs. Goldman Sachs, GS Group and GS Global Holdings each disclaim
beneficial ownership of the securities reported herein except to the extent of
their pecuniary interest therein.
GS Credit Partners may be deemed to own beneficially and directly $30,970,375.22
principal amount of Convertible Notes issued pursuant to the Securities Exchange
Agreement which are convertible into 10,323,458 shares of Common Stock and
beneficially and indirectly $8,992,158.80 principal amount of Risk Participation
Notes which are convertible into 2,997,386 shares of Common Stock.
Goldman Sachs may be deemed to own beneficially and directly and GS Group may be
deemed to own beneficially and indirectly warrants to purchase 178,427 shares of
Common Stock of the Company and New Warrants (as defined below) to purchase
863,588 shares of Common Stock of the Company. GS Group disclaims beneficial
ownership of the securities reported herein except to the extent of its
pecuniary interest therein.
03: Goldman Sachs may be deemed to own beneficially and directly warrants to
purchase 863,588 shares (subject to antidilution and other adjustments) of
Common Stock of the Company (the "New Warrants"). The New Warrants were issued
pursuant to the warrant agreement dated as of August 26, 1998 to which GS Credit
Partners and the Company were party (the "New Warrant Agreement") in connection
with the senior loan agreement dated as of August 20, 1998 to which GS Credit
Partners and the Company were party (the "Senior Loan Agreement"). The New
Warrants are exercisable on or before the earlier to occur of (i) thirty months
from the closing date of the Senior Loan Agreement and (ii) such earlier date on
which the revolving credit commitments of the Senior Loan Agreement terminate at
an exercise price equal to the par value of such New Warrant Share (i.e., $0.001
per share).
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Signatures:
THE GOLDMAN SACHS GROUP, L.P
By: s/ Hans L. Reich
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Name: Hans L. Reich
Title: Attorney-in-fact
GOLDMAN, SACHS & CO.
By: s/ Hans L. Reich
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Name: Hans L. Reich
Title: Attorney-in-fact
GOLDMAN SACHS CREDIT PARTNERS, L.P.
By: s/ Hans L. Reich
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Name: Hans L. Reich
Title: Attorney-in-fact
GOLDMAN SACHS GLOBAL HOLDINGS L.L.C
By: s/ Hans L. Reich
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Name: Hans L. Reich
Title: Attorney-in-fact
Date: January 11, 1999
** 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 procedures.
Alternatively, this Form is permitted to be submitted to the
Commission in electronic format at the option of the reporting person
pursuant to Rule 101(b)(4) of Regulation S-T.
