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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
(Amendment No. 2)
Under the Securities Exchange Act of 1934*
CAI Wireless Systems, Inc.
--------------------------
(Name of Issuer)
Common Stock, $.01 par value
----------------------------
(Title of Class of Securities)
12476P203
---------
(CUSIP Number)
July 9, 1999
------------
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:
[ ] Rule 13d-1(b)
[X] Rule 13d-1(c)
[ ] Rule 13d-1(d)
*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 the
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).
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- -------------------
CUSIP No. 12476P203 13G
- -------------------
- ---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Louis M. Bacon
- ---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- ---------- ---------------------------------------------------------------------
3 SEC USE ONLY
- ---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- -------------------- ------ ----------------------------------------------------
5 SOLE VOTING POWER
None
------ ----------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 0
OWNED BY
EACH ------ ----------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH None
------ ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
0
- ---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
- ---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
- ---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0%
- ---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN, IA
- ---------- ---------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
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- -------------------
CUSIP No. 12476P203 13G
- -------------------
- ---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Moore Capital Management, Inc.
- ---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- ---------- ---------------------------------------------------------------------
3 SEC USE ONLY
- ---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Connecticut
- -------------------- ------ ----------------------------------------------------
5 SOLE VOTING POWER
None
------ ----------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 0
OWNED BY
EACH ------ ----------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH None
------ ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
0
- ---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
- ---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
- ---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0%
- ---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
CO, IA
- ---------- ---------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
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- -------------------
CUSIP No. 12476P203 13G
- -------------------
- ---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Moore Global Investments, Ltd.
- ---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- ---------- ---------------------------------------------------------------------
3 SEC USE ONLY
- ---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Bahamas
- -------------------- ------ ----------------------------------------------------
5 SOLE VOTING POWER
None
------ ----------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 0
OWNED BY
EACH ------ ----------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH None
------ ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
0
- ---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0
- ---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
- ---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0%
- ---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
CO
- ---------- ---------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
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Item 1(a): Name of Issuer:
- ---------- ---------------
CAI Wireless Systems, Inc. (the "Company").
Item 1(b): Address of Issuer's Principal Executive Offices:
- ---------- ------------------------------------------------
18 Corporate Woods Blvd.
Albany, New York 12211
Items 2(a): Name of Person(s) Filing:
- ----------- -------------------------
The Statement is being filed by (1) Moore Capital
Management, Inc. ("MCM"), (2) Louis M. Bacon ("Mr. Bacon"),
in his capacity as (a) Chairman and Chief Executive Officer,
director and controlling shareholder of MCM and (b) Chairman
and Chief Executive Officer, director and majority interest
holder in Moore Capital Advisors, LLC ("MCA"), and (3) Moore
Global Investments, Ltd. ("MGI").
MCM, a registered commodity trading advisor and member of
the National Futures Association, serves as discretionary
investment manager to MGI, a non-U.S. investment company
incorporated in the Bahamas, and other investment funds.
MCA, a registered commodity trading advisor and commodity
pool operator, serves as general partner and discretionary
investment manager to a U.S. partnership, Remington
Investment Strategies, L.P. ("RIS"). The principal
occupation of Mr. Bacon is the direction of the investment
activities of MCM and MCA, carried out in his capacity of
Chairman and Chief Executive Officer of such entities. In
this capacity, Mr. Bacon may be deemed to be the beneficial
owner of the shares of Common Stock (as defined) which are
the subject of this statement held for the account of MGI
and for the account of RIS.
Item 2(b): Address of Principal Business Office:
- ---------- -------------------------------------
The principal business offices of MCM and Mr.
Bacon are located at 1251 Avenue of the
Americas, New York, New York 10020.
The principal business offices of MGI are located at c/o
Citco Fund Services (Bahamas) Ltd., The Bahamas Financial
Centre, P.O. Box CB-13136, Nassau, Bahamas.
Item 2(c): Citizenship:
- ---------- ------------
Mr. Bacon: United States citizen
MCM: Connecticut corporation
MGI: Bahamas corporation
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<PAGE>
Item 2(d): Title of Class of Securities:
- ---------- -----------------------------
Common stock, par value $.01 per share (the
"Common Stock"), of the Company.
Item 2(e): CUSIP Number:
- ---------- -------------
12476P203
Item 3: If this statement is filed pursuant to
- ------- --------------------------------------
ss. 240.13d-1(b) or 240.13d-2(b) or (c),
----------------------------------------
check whether the person is filing as a:
----------------------------------------
(a)[ ] Broker or dealer registered under section 15 of
the Act (15 U.S.C. 78o).
(b)[ ] Bank as defined in section 3(a)(6) of the Act
(15 U.S.C. 78c).
(c)[ ] Insurance company as defined in section 3(a)(19)
of the Act (15 U.S.C. 78c).
(d)[ ] Investment company registered under section 8 of the
Investment Company Act of 1940 (15 U.S.C. 80a-8).
(e)[ ] An investment adviser in accordance with
ss. 240.13d-1(b)(1)(ii)(E).
(f)[ ] An employee benefit plan or endowment fund in
accordance with ss. 240.13d-1(b)(1)(ii)(F).
(g)[ ] A parent holding company or control person in
accordance with ss. 240.13d-1(b)(1)(ii)(G).
(h)[ ] A savings association as defined in Section 3(b) of
the Federal Deposit Insurance Act (12 U.S.C. 1813).
(i)[ ] A church plan that is excluded from the definition of
an investment company under section 3(c)(14) of the
Investment Company Act of 1940 (15 U.S.C. 80a-3).
(j)[ ] Group, in accordance with ss. 240.13d-1(b)(1)(ii)(J).
If this statement is filed pursuant to s.
240.13d-1(c), check this box [X].
Items 4(a)-(c): Ownership:
- --------------- ----------
On the date of this Statement:
(i) Mr. Bacon is deemed to have beneficial
ownership for purposes of Section 13(d) of
the Securities Exchange Act of 1934
("Beneficial
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<PAGE>
Ownership") of 0 shares of Common Stock by
virtue of his control of MCM and MCA. Such
shares represent 0% of the issued and
outstanding shares of Common Stock. By virtue
of his control of MCM and MCA, Mr. Bacon is
deemed to share voting power and dispositive
power over the shares of Common Stock held by
MGI and RIS.
(ii) MCM is deemed to have Beneficial
Ownership of 0 shares of Common Stock by
virtue of its position as discretionary
investment manager of MGI. Such shares
represent 0% of the issued and outstanding
Common Stock. MCM is vested with the power to
direct disposition of the Common Stock held
by MGI and shares with MGI and Mr. Bacon
voting power over such Common Stock.
(iii) MGI has Beneficial Ownership of 0
shares of Common Stock held by it. Such
shares represent 0% of the issued and
outstanding Common Stock. MGI currently does
not exercise dispositive power over such
shares but could obtain such power within 60
days if MGI exercised its right to terminate
its trading advisory agreement with MCM.
Item 5: Ownership of Five Percent or Less of a Class:
- ------- ---------------------------------------------
If this statement is being filed to report
the fact that as of the date hereof the
reporting person has ceased to be the
beneficial owner of more than five percent of
the class of securities, check the following:
[X].
Item 6: Ownership of More than Five Percent on Behalf of Another
- ------- --------------------------------------------------------
Person:
-------
Mr. Bacon, by virtue of his control of MCM
and MCA, is known to have the right to
receive or the power to direct the receipt of
dividends from, or the proceeds of the sale
of, shares of Common Stock, except that
shareholders of MGI and partners of RIS have
the right to participate in the receipt of
dividends from, or proceeds upon the sale of,
the shares of Common Stock held for their
respective accounts.
Item 7: Identification and Classification of the
- ------- ----------------------------------------
Subsidiary Which Acquired the Security Being
--------------------------------------------
Reported on By the Parent Holding Company:
------------------------------------------
Not Applicable.
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<PAGE>
Item 8: Identification and Classification of
- ------- ------------------------------------
Members of the Group:
---------------------
Incorporated by reference herein is the Joint
Filing Agreement among Mr. Bacon, MCM and
MGI, attached as Exhibit A to the original
Statement, filed October 26, 1998.
Item 9: Notice of Dissolution of Group:
- ------- -------------------------------
Not Applicable.
Item 10: Certification:
- -------- --------------
By signing below each of the undersigned
certifies that, to the best of the
undersigned's knowledge and belief, the
securities referred to above were not
acquired and are not held for the purpose of
or with the effect of changing or influencing
the control of the issuer of the securities
and were not acquired and are not held in
connection with or as a participant in any
transaction having that purpose or effect.
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<PAGE>
SIGNATURE
---------
After reasonable inquiry and to the best of the undersigned's knowledge and
belief, each of the undersigned certifies that the information set forth in this
statement is true, complete and correct.
Dated: July 13, 1999
LOUIS M. BACON
By: /s/ Stephen R. Nelson
------------------------------
Name: Stephen R. Nelson*
Title: Attorney-in-Fact
MOORE CAPITAL MANAGEMENT, INC.
By: /s/ Stephen R. Nelson
------------------------------
Name: Stephen R. Nelson*
Title: Attorney-in-Fact
MOORE GLOBAL INVESTMENTS, LTD.
By: /s/ Stephen R. Nelson
------------------------------
Name: Stephen R. Nelson*
Title: Attorney-in-Fact
- ----------
* Incorporated by reference herein is the Power of Attorney dated November 28,
1997 granted by Louis M. Bacon in favor of M. Elaine Crocker, Kevin F. Shannon
and Stephen R. Nelson, attached as Exhibit B to the original Statement, filed
October 26, 1998.
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