SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FINAL AMENDMENT
(AMENDMENT NO.2)
TO
SCHEDULE 13D
Under the Securities Exchange Act of 1934
CAI Wireless Systems, Inc.
(Name of Issuer)
Common Stock, $.01 par value
(Title of Class of Securities)
12476P20
(CUSIP Number)
Resurgence Asset Management, LLC
10 New King Street
Suite 107
White Plains, New York 10604
Attn: James Rubin
(914) 288-8600
(Name, Address and Telephone Number of
Person Authorized to Receive Notices
and Communications)
August 24, 1999
(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: |_|
Page 1 of 26 Pages
<PAGE>
- ----------------------
CUSIP No. 12476P20 SCHEDULE 13D Page 2 of 26 Pages
- ----------------------
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
James B. Rubin /1/
Resurgence Asset Management, L.L.C.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)[ ] (b)[ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEM 2(d) or 2(e)
[ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES None /1/
--------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY None
--------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING None /1/
--------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH None
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
None /1/
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO
- --------------------------------------------------------------------------------
- --------------
/1/ Mr. James B. Rubin serves as Chief Investment Officer of and is responsible
for the day to day investment activities of Resurgence Asset Management, L.L.C.
("RAM"). Voting and dispositive power is exercised solely in its capacity as
sole general partner and sole investment advisor of M.D. Sass Corporate
Resurgence Partners, L.P. Accordingly, RAM may be deemed to share voting and
dispositive power.
<PAGE>
- ----------------------
CUSIP No. 12476P20 SCHEDULE 13D Page 3 of 26 Pages
- ----------------------
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
James B. Rubin /2/
Resurgence Asset Management International, L.L.C.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)[ ] (b)[ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEM 2(d) or 2(e)
[ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES None /2/
--------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY None
--------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING None /2/
--------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH None
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
None /2/
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO
- --------------------------------------------------------------------------------
- --------
/2/ Mr. James B. Rubin serves as Chief Investment Officer of and is responsible
for the day to day investment activities of Resurgence Asset Management
International, L.L.C. ("RAMI"). Voting and dispositive power is exercised (i)
solely in its capacity as sole special shareholder of and sole investment
advisor of M.D. Sass Corporate Resurgence International, Ltd. and (ii) pursuant
to a Subadvisory Agreement with M.D. Sass Management, Inc. with respect to M.D.
Sass Re/Enterprise International Ltd. Accordingly, in each case, RAMI may be
deemed to share voting and dispositive power.
<PAGE>
- ----------------------
CUSIP No. 12476P20 SCHEDULE 13D Page 4 of 26 Pages
- ----------------------
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
James B. Rubin /3/
Re/Enterprise Asset Management, L.L.C.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)[ ] (b)[ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEM 2(d) or 2(e)
[ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES None /3/
--------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY None
--------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING None /3/
--------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH None
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
None /3/
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO
- --------------------------------------------------------------------------------
- --------
/3/ Mr. James B. Rubin serves as Manager of and is responsible for the day to
day investment activities of Re/Enterprise Asset Management, L.L.C. ("REAM").
Voting and dispositive power is exercised pursuant to a Subadvisory Services
Agreement with M.D. Sass Management, Inc., M.D. Sass Investors Services, Inc.
and M.D. Sass Associates, Inc. with respect to two employee benefit or
retirement plans, M.D. Sass Re/Enterprise Partners, L.P., and M.D. Sass
Re/Enterprise - II, L.P. Accordingly, REAM may be deemed to share voting and
dispositive power.
<PAGE>
- ----------------------
CUSIP No. 12476P20 SCHEDULE 13D Page 5 of 26 Pages
- ----------------------
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Kingstreet Ltd.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)[ ] (b)[ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEM 2(d) or 2(e)
[ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
British Virgin Islands
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES None /4/
--------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY None
--------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING None /4/
--------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH None
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
None /4/
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
- --------
/4/ Voting and dispositive power is exercised through its sole director, CTC
Corporation Ltd. Kingstreet Ltd. is a wholly-owned subsidiary of The M.D. Sass
Re/Enterprise International Irrevocable Trust II.
<PAGE>
- ----------------------
CUSIP No. 12476P20 SCHEDULE 13D Page 6 of 26 Pages
- ----------------------
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
James B. Rubin /5/
M.D. Sass Corporate Resurgence Partners, L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)[ ] (b)[ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEM 2(d) or 2(e)
[ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES None /5/
--------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY None
--------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING None /5/
--------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH None
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
None /5/
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
- --------
/5/ Mr. James B. Rubin serves as Chief Investment Officer of and is responsible
for the day to day investment activities of Resurgence Asset Management, L.L.C.
("RAM"). Voting and dispositive power is exercised through its sole general
partner and sole investment advisor, RAM. Accordingly, M.D. Sass Corporate
Resurgence Partners, L.P. may be deemed to share voting and dispositive power.
<PAGE>
- ----------------------
CUSIP No. 12476P20 SCHEDULE 13D Page 7 of 26 Pages
- ----------------------
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
James B. Rubin /6/
M.D. Sass Corporate Resurgence International, Ltd.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)[ ] (b)[ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEM 2(d) or 2(e)
[ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
British Virgin Islands
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES None /6/
--------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY None
--------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING None /6/
--------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH None
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
None /6/
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
- --------
/6/ Mr. James B. Rubin serves as Chief Investment Officer of and is responsible
for the day to day investment activities of Resurgence Asset Management
International, L.L.C. ("RAMI"). Voting and dispositive power is exercised
through its sole special shareholder and investment advisor, RAMI. Accordingly,
M.D. Sass Corporate Resurgence International, Ltd. may be deemed to share voting
and dispositive power.
<PAGE>
- ----------------------
CUSIP No. 12476P20 SCHEDULE 13D Page 8 of 26 Pages
- ----------------------
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
James B. Rubin /7/
M.D. Sass Re/Enterprise Partners, L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)[ ] (b)[ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEM 2(d) or 2(e)
[ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES None /7/
--------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY None
--------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING None /7/
--------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH None
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
None /7/
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
- --------
/7/ Mr. James B. Rubin serves as Manager of and is responsible for the day to
day investment activities of Re/Enterprise Asset Management, L.L.C. ("REAM").
Voting and dispositive power is exercised through REAM pursuant to a Subadvisory
Services Agreement with M.D. Sass Associates, Inc., the managing general partner
of M.D. Sass Re/Enterprise Partners, L.P. Accordingly, M.D. Sass Re/Enterprise
Partners, L.P. may be deemed to share voting and dispositive power.
<PAGE>
- ----------------------
CUSIP No. 12476P20 SCHEDULE 13D Page 9 of 26 Pages
- ----------------------
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
James B. Rubin /8/
M.D. Sass Re/Enterprise - II, L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)[ ] (b)[ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEM 2(d) or 2(e)
[ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES None /8/
--------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY None
--------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING None /8/
--------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH None
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
None /8/
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
- --------
/8/ Mr. James B. Rubin serves as Manager of and is responsible for the day to
day investment activities of Re/Enterprise Asset Management, L.L.C. ("REAM").
Voting and dispositive power is exercised through REAM pursuant to a Subadvisory
Services Agreement with M.D. Sass Investors Services, Inc., the managing general
partner of M.D. Sass Re/Enterprise - II, L.P. Accordingly, M.D. Sass
Re/Enterprise - II, L.P. may be deemed to share voting and dispositive power.
<PAGE>
- ----------------------
CUSIP No. 12476P20 SCHEDULE 13D Page 10 of 26 Pages
- ----------------------
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
James B. Rubin /9/
M.D. Sass Re/Enterprise International, Ltd.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)[ ] (b)[ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEM 2(d) or 2(e)
[ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
British Virgin Islands
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES None /9/
--------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY None
--------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING None /9/
--------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH None
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
None /9/
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
- --------
/9/ Mr. James B. Rubin serves as Manager of and is responsible for the day to
day investment activities of Resurgence Asset Management International, L.L.C.
("RAMI"). Voting and dispositive power is exercised through RAMI pursuant to a
Subadvisory Services Agreement with M.D. Sass Management Inc., the investment
manager of M.D. Sass Re/Enterprise International Ltd. Accordingly, M.D. Sass
Re/Enterprise International, Ltd. may be deemed to share voting and dispositive
power.
<PAGE>
- ----------------------
CUSIP No. 12476P20 SCHEDULE 13D Page 11 of 26 Pages
- ----------------------
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
James B. Rubin /10/
M.D. Sass Associates, Inc.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)[ ] (b)[ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEM 2(d) or 2(e)
[ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES None /10/
--------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY None
--------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING None /10/
--------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH None
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
None /10/
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
- --------
/10/ Mr. James B. Rubin serves as Manager of and is responsible for the day to
day investment activities of Re/Enterprise Asset Management L.L.C. ("REAM").
Pursuant to a Subadvisory Services Agreement M.D. Sass Associates, Inc. has
entered into with REAM, REAM exercises sole voting and dispositive power over
such shares. Voting and dispositive power is exercised by M.D. Sass Associates,
Inc. solely in its capacity as general partner of M.D. Sass Re/Enterprise
Partners, L.P. Accordingly, M.D. Associates, Inc. may be deemed to share voting
and dispositive power.
<PAGE>
- ----------------------
CUSIP No. 12476P20 SCHEDULE 13D Page 12 of 26 Pages
- ----------------------
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
James B. Rubin /11/
M.D. Sass Management, Inc.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)[ ] (b)[ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEM 2(d) or 2(e)
[ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES None /11/
--------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY None
--------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING None /11/
--------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH None
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
None /11/
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
- --------
/11/ Mr. James B. Rubin serves as Chief Investment Officer and is responsible
for the day to day investment activities of Resurgence Asset Management
International, L.L.C. ("RAMI"). Voting and dispositive power is exercised
through M.D. Sass Re/Enterprise International, Ltd. Pursuant to a Subadvisory
Services Agreement it has entered into with RAMI, RAMI exercises sole voting and
dispositive power over such shares. Accordingly, M.D. Sass Management, Inc. may
be deemed to share voting and dispositive power.
<PAGE>
- ----------------------
CUSIP No. 12476P20 SCHEDULE 13D Page 13 of 26 Pages
- ----------------------
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
James B. Rubin /12/
M.D. Sass Investors Services, Inc.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)[ ] (b)[ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEM 2(d) or 2(e)
[ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES None /12/
--------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY None
--------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING None /12/
--------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH None
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
None /12/
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
- --------
/12/ Mr. James B. Rubin serves as Manager and is responsible for the day to day
investment activities of Re/Enterprise Asset Management, L.L.C. ("REAM"). Voting
and dispositive power is exercised solely in its capacity as general partner of
M.D. Sass Re/Enterprise - II, L.P. and investment advisor to two employee
benefit or retirement plans. Pursuant to a Subadvisory Services Agreement it has
entered into with REAM, REAM exercises sole voting and dispositive power over
such shares. Accordingly, M.D. Sass Investor Services, Inc. may be deemed to
share voting and dispositive power.
<PAGE>
- ----------------------
CUSIP No. 12476P20 SCHEDULE 13D Page 14 of 26 Pages
- ----------------------
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Resurgence Parallel Fund LLC
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)[ ] (b)[ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEM 2(d) or 2(e)
[ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES None
--------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY None
--------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING None
--------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH None
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
None
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
<PAGE>
- ----------------------
CUSIP No. 12476P20 SCHEDULE 13D Page 15 of 26 Pages
- ----------------------
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
The M.D. Sass Re/Enterprise International Irrevocable Trust II
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)[ ] (b)[ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEM 2(d) or 2(e)
[ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
British Virgin Islands
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES None /13/
--------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY None
--------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING None /13/
--------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH None
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
None /13/
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
00
- --------------------------------------------------------------------------------
- --------
/13/ The M.D. Sass Re/Enterprise International Irrevocable Trust II (the
"Trust") owns 100% of Kingstreet Ltd. and accordingly may be deemed to share
voting and dispositive power. Voting and dispositive power on behalf of the
Trust is exercised through its trustees, A. Charles Levene and CITCO
International Trust Company, Ltd.
<PAGE>
- ----------------------
CUSIP No. 12476P20 SCHEDULE 13D Page 16 of 26 Pages
- ----------------------
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
M.D. Sass Associates, Inc. Employees Profit Sharing Plan
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)[ ] (b)[ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEM 2(d) or 2(e)
[ ]
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES None
--------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY None
--------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING None
--------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH None
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
None
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES*
[ ]
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
EP
- --------------------------------------------------------------------------------
<PAGE>
Schedule 13D
Item 1 of the Schedule 13D, "Security and Issuer," is amended and restated in
its entirety as follows:
This Statement amends the Schedule 13D dated June 15, 1999 (the
"Schedule 13D"), relating to the Common Shares, $.01 par value (the "Shares"),
of CAI Wireless Systems, Inc., a corporation organized under the laws of
Connecticut (the "Issuer"). The principal executive offices of the Issuer are
located at 18 Corporate Woods Boulevard, Albany, New York, 12211.
Item 3 of the Schedule 13D, "Source and Amount of Funds or Other Consideration,"
is amended to amend and restate the first paragraph therof in its entirety as
follows:
As of August 24, 1999 the Reporting Persons no longer beneficially own
any shares of Common Stock.
Item 3 of the Schedule 13D, "Source and Amount of Funds or Other Consideration,"
is amended to amend and restate the third paragraph therof in its entirety as
follows:
Share amounts and prices of all sales of the Shares in the past sixty
days are set forth on Exhibit B attached hereto.
Item 4 of the Schedule 13D, "Purpose of the Transaction," is amended to add the
following:
On August 24, 1999 the Reporting Persons sold all Shares in a private
transaction.
<PAGE>
SIGNATURES
After reasonable inquiry and to the best knowledge and belief of the
undersigned, the undersigned certify that the information set forth in this
Statement is true, complete and correct.
Dated: September 9, 1999
RESURGENCE ASSET MANAGEMENT, L.L.C.
By: /s/James B. Rubin
---------------------
Name: James B. Rubin
Title: Manager
RESURGENCE ASSET MANAGEMENT
INTERNATIONAL, L.L.C.
By: /s/James B. Rubin
---------------------
Name: James B. Rubin
Title: Manager
RE/ENTERPRISE ASSET MANAGEMENT, L.L.C.
By: /s/James B. Rubin
---------------------
Name: James B. Rubin
Title: Manager
KINGSTREET LTD.
By: CTC Corporation, Ltd.,
its director
By: /s/A. Charles Levene
------------------------
Name: A. Charles Levene
Title: Authorized Signatory
M.D. SASS CORPORATE
RESURGENCE PARTNERS, L.P.
By: Resurgence Asset Management,
L.L.C., its General Partner
By: /s/James B. Rubin
---------------------
Name: James B. Rubin
Title: Chief Investment Officer
<PAGE>
M.D. SASS CORPORATE
RESURGENCE PARTNERS INTERNATIONAL, LTD.
By: Resurgence Asset Management
International, L.L.C.,
its Special Shareholders
By: /s/James B. Rubin
---------------------
Name: James B. Rubin
Title: Chief Investment Officer
M.D. SASS RE/ENTERPRISE PARTNERS, L.P.
By: M.D. Sass Associates, Inc., its
General Partner
By: /s/Martin E. Winter
---------------------
Name: Martin E. Winter
Title: Senior Vice President
M.D. SASS RE/ENTERPRISE - II, L.P.
By: M.D. Sass Investors Services, its
General Partner
By: /s/Martin E. Winter
---------------------
Name: Martin E. Winter
Title: Senior Vice President
M.D. SASS RE/ENTERPRISE INTERNATIONAL,
LTD.
By: M.D. Sass Management, Inc., as
investment manager
By: /s/Martin E. Winter
---------------------
Name: Martin E. Winter
Title: Senior Vice President
M.D. SASS ASSOCIATES, INC.
By: /s/Martin E. Winter
---------------------
Name: Martin E. Winter
Title: Senior Vice President
<PAGE>
M.D. SASS MANAGMENT, INC.
By: /s/Martin E. Winter
---------------------
Name: Martin E. Winter
Title: Senior Vice President
M.D. SASS INVESTORS SERVICES, INC.
By: /s/Martin E. Winter
---------------------
Name: Martin E. Winter
Title: Senior Vice President
RESURGENCE PARALLEL FUND LLC
By: /s/Martin D. Sass
---------------------
Name: Martin D. Sass
Title: Manager
By: /s/Martin E. Winter
---------------------
Name: Martin E. Winter
Title: Manager
M.D. SASS RE/ENTERPRISE INTERNATIONAL
IRREVOCABLE TRUST II
By: /s/A. Charles Levene
---------------------
Name: A. Charles Levene
Title: Trustee
M.D. SASS ASSOCIATES, INC. EMPLOYEES
PROFIT SHARING PLAN
By: /s/Martin E. Winter
---------------------
Name: Martin E. Winter
Title: Trustee
<PAGE>
EXHIBIT A
Agreement of Joint Filing
Pursuant to 13d-1(f) promulgated under the Securities Exchange Act of
1934, as amended, the undersigned persons hereby agree to file with the
Securities and Exchange Commission the Statement on Schedule 13D (the
"Statement") to which this Agreement is attached as an exhibit, and agree that
such Statement, as so filed, is filed on behalf of each of them.
IN WITNESS WHEREOF, the undersigned have executed this Agreement.
Dated: September 9, 1999
RESURGENCE ASSET MANAGEMENT, L.L.C.
By: /s/James B. Rubin
---------------------
Name: James B. Rubin
Title: Manager
RESURGENCE ASSET MANAGEMENT
INTERNATIONAL, L.L.C.
By: /s/James B. Rubin
---------------------
Name: James B. Rubin
Title: Manager
RE/ENTERPRISE ASSET MANAGEMENT, L.L.C.
By: /s/James B. Rubin
---------------------
Name: James B. Rubin
Title: Manager
KINGSTREET LTD.
By: CTC Corporation, Ltd.,
its director
By: /s/A. Charles Levene
------------------------
Name: A. Charles Levene
Title: Authorized Signatory
M.D. SASS CORPORATE
RESURGENCE PARTNERS, L.P.
By: Resurgence Asset Management,
L.L.C., its General Partner
By: /s/James B. Rubin
---------------------
Name: James B. Rubin
Title: Chief Investment Officer
<PAGE>
M.D. SASS CORPORATE
RESURGENCE PARTNERS INTERNATIONAL, LTD.
By: Resurgence Asset Management
International, L.L.C.,
its Special Shareholders
By: /s/James B. Rubin
---------------------
Name: James B. Rubin
Title: Chief Investment Officer
M.D. SASS RE/ENTERPRISE PARTNERS, L.P.
By: M.D. Sass Associates, Inc., its
General Partner
By: /s/Martin E. Winter
---------------------
Name: Martin E. Winter
Title: Senior Vice President
M.D. SASS RE/ENTERPRISE - II, L.P.
By: M.D. Sass Investors Services, its
General Partner
By: /s/Martin E. Winter
---------------------
Name: Martin E. Winter
Title: Senior Vice President
M.D. SASS RE/ENTERPRISE INTERNATIONAL,
LTD.
By: M.D. Sass Management, Inc., as
investment manager
By: /s/Martin E. Winter
---------------------
Name: Martin E. Winter
Title: Senior Vice President
M.D. SASS ASSOCIATES, INC.
By: /s/Martin E. Winter
---------------------
Name: Martin E. Winter
Title: Senior Vice President
<PAGE>
M.D. SASS MANAGMENT, INC.
By: /s/Martin E. Winter
---------------------
Name: Martin E. Winter
Title: Senior Vice President
M.D. SASS INVESTORS SERVICES, INC.
By: /s/Martin E. Winter
---------------------
Name: Martin E. Winter
Title: Senior Vice President
RESURGENCE PARALLEL FUND LLC
By: /s/Martin D. Sass
---------------------
Name: Martin D. Sass
Title: Manager
By: /s/Martin E. Winter
---------------------
Name: Martin E. Winter
Title: Manager
M.D. SASS RE/ENTERPRISE INTERNATIONAL
IRREVOCABLE TRUST II
By: /s/A. Charles Levene
---------------------
Name: A. Charles Levene
Title: Trustee
M.D. SASS ASSOCIATES, INC. EMPLOYEES
PROFIT SHARING PLAN
By: /s/Martin E. Winter
---------------------
Name: Martin E. Winter
Title: Trustee
<PAGE>
EXHIBIT B
TRANSACTIONS IN COMMON
STOCK OF CAI WIRELESS SYSTEMS
DURING THE PRECEDING 60 DAYS
Shares Sold by Resurgence Asset Management, L.L.C.
Number of
Shares
Date Sold Total Cost
- ---- --------- ----------
8/24/99 582,947 $16,322,516
Shares Sold by Resurgence Asset Management International, L.L.C.
Number of
Shares
Date Sold Total Cost
- ---- --------- ----------
8/24/99 386,687 $10,827,236
Shares Sold by Re/Enterprise Asset Management, L.L.C.
Number of
Shares
Date Sold Total Cost
- ---- --------- ----------
8/24/99 628,206 $17,589,768
Shares Sold by M.D. Sass Re/Enterprise International, Ltd.
Number of
Shares
Date Sold Total Cost
- ---- --------- ----------
8/24/99 87,684 $2,455,152
Shares Sold by Kingstreet Limited
Number of
Shares
Date Sold Total Cost
- ---- --------- ----------
8/24/99 7,792 $218,176
<PAGE>
Shares Sold by M.D. Sass Corporate Resurgence Partners, L.P.
Number of
Shares
Date Sold Total Cost
- ---- --------- ----------
8/24/99 582,947 $16,322,516
Shares Sold by M.D. Sass Corporate Resurgence International, Ltd.
Number of
Shares
Date Sold Total Cost
- ---- --------- ----------
8/24/99 299,003 $8,372,084
Shares Sold by M.D. Sass Re/Enterprise Partners, L.P.
Number of
Shares
Date Sold Total Cost
- ---- --------- ----------
8/24/99 140,459 $3,932,852
Shares Sold by M.D. Sass Re/Enterprise - II, L.P.
Number of
Shares
Date Sold Total Cost
- ---- --------- ----------
8/24/99 32,806 $918,568
Shares Sold by M.D. Sass Associates, Iac.
Number of
Shares
Date Sold Total Cost
- ---- --------- ----------
8/24/99 628,206 $17,589,768
Shares Sold by M.D. Sass Management, Inc.
Number of
Shares
Date Sold Total Cost
- ---- --------- ----------
8/24/99 87,684 $2,455,152
Shares Sold by M.D. Sass Investors Services, Inc.
Number of
Shares
Date Sold Total Cost
- ---- --------- ----------
8/24/99 454,941 $12,738,348
<PAGE>
Shares Sold by M.D. Sass Associates, Inc. Employee Profit
Sharing Plan
Number of
Shares
Date Sold Total Cost
- ---- --------- ----------
8/24/99 6,526 $182,728
Shares Sold by the Resurgence Parallel Fund, LLC.
Number of
Shares
Date Sold Total Cost
- ---- --------- ----------
8/24/99 20,356 $569,968
Shares Sold by the M.D. Sass Re/Enterprise International
Irrevocable Trust II
Number of
Shares
Date Sold Total Cost
- ---- --------- ----------
8/24/99 7,792 $218,716
