<PAGE>
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D/A
(Amendment No. 1)
Under the Securities Exchange Act of 1934
U.S. VISION, INC.
_________________
(Name of Issuer)
Common Stock (par value $.01 per share)
_______________________________________
(Title of Class of Securities)
90339M-10-4
___________
(CUSIP Number)
Dennis J. Shaughnessy
Managing Director
Grotech Capital Group, Inc.
9690 Deereco Road
Suite 800
Timonium, Maryland 21092
________________________________________________________________________________
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
(Date of Event which Requires Filing of this Statement)
December 27, 2000
________________________________________________________________________________
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 (S)(S)240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the
following box [ ].
<PAGE>
===============================================================================
CUSIP NO. 90339M-10-4
------------------------------------------------------------------------------
NAMES OF REPORTING PERSON: Grotech Capital Group, Inc.
1 I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only).
52-1525306
------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
2 (a) [X]
(b) [_]
------------------------------------------------------------------------------
SEC USE ONLY
3
------------------------------------------------------------------------------
SOURCE OF FUNDS
4
AF
------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5
------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF 8,188/1/
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
365,383/2/
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING 8,188/1/
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
365,383/2/
------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
374,026/1,2/
------------------------------------------------------------------------------
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
12 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.0%
------------------------------------------------------------------------------
TYPE OF REPORTING PERSON
14
PN
------------------------------------------------------------------------------
--------------
/1/ Includes a warrant to purchase 7,348 shares of Common Stock of the Issuer,
exercisable immediately.
/2/ Includes 311,984 shares of Common Stock held by Grotech Partners III, L.P.,
33,914 shares of Common Stock held by Grotech III Companion Fund, and 19,485
shares of Common Stock held by Grotech III Pennsylvania Fund, L.P., each of
which Grotech Capital Group, Inc. is the general partner.
<PAGE>
===============================================================================
CUSIP NO. 90339M-10-4
------------------------------------------------------------------------------
NAMES OF REPORTING PERSON: Grotech Capital Group IV, LLC
1 I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only).
52-1846256
------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
2 (a) [X]
(b) [_]
------------------------------------------------------------------------------
SEC USE ONLY
3
------------------------------------------------------------------------------
SOURCE OF FUNDS
4
AF
------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5
------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF 34,818/3/
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
1,583,951/4/
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING 34,818/3/
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
1,583,951/4/
------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
1,587,769/3,4/
------------------------------------------------------------------------------
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ]
12
------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
20.4%
------------------------------------------------------------------------------
TYPE OF REPORTING PERSON
14
PN
------------------------------------------------------------------------------
--------------
/3/ Includes a warrant immediately exercisable into 31,652 shares of Common
Stock of the Company.
/4/ Includes 1,583,951 shares of Common Stock held by Grotech Partners IV, L.P.,
of which Grotech Capital Group IV, LLC is the general partner.
<PAGE>
===============================================================================
CUSIP NO. 90339M-10-4
------------------------------------------------------------------------------
NAMES OF REPORTING PERSON: Grotech Partners III, L.P
1 I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only).
52-1620950
------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
2 (a) [X]
(b) [_]
------------------------------------------------------------------------------
SEC USE ONLY
3
------------------------------------------------------------------------------
SOURCE OF FUNDS
4
WC
------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5
------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF 311,984
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING 311,984
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
311,984
------------------------------------------------------------------------------
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ]
12
------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
4.0%
------------------------------------------------------------------------------
TYPE OF REPORTING PERSON
14
PN
------------------------------------------------------------------------------
<PAGE>
===============================================================================
CUSIP NO. 90339M-10-4
------------------------------------------------------------------------------
NAMES OF REPORTING PERSON: Grotech III Companion Fund, L.P.
1 I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only).
52-1642933
------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
2 (a) [X]
(b) [_]
------------------------------------------------------------------------------
SEC USE ONLY
3
------------------------------------------------------------------------------
SOURCE OF FUNDS
4
WC
------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5
------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF 33,914
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING 33,914
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
33,914
------------------------------------------------------------------------------
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ]
12
------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
0.47%
------------------------------------------------------------------------------
TYPE OF REPORTING PERSON
14
PN
------------------------------------------------------------------------------
<PAGE>
===============================================================================
CUSIP NO. 90339M-10-4
------------------------------------------------------------------------------
NAMES OF REPORTING PERSON: Grotech III Pennsylvania Fund, L.P.
1 I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only).
52-1690767
------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
2 (a) [X]
(b) [_]
------------------------------------------------------------------------------
SEC USE ONLY
3
------------------------------------------------------------------------------
SOURCE OF FUNDS
4
WC
------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5
------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Pennsylvania
------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF 19,485
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING 19,485
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
19,485
------------------------------------------------------------------------------
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ]
12
------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
0.25%
------------------------------------------------------------------------------
TYPE OF REPORTING PERSON
14
PN
------------------------------------------------------------------------------
<PAGE>
===============================================================================
CUSIP NO. 90339M-10-4
------------------------------------------------------------------------------
NAMES OF REPORTING PERSON: Grotech Partners IV, L.P
1 I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only).
52-1846258
------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
2 (a) [X]
(b) [_]
------------------------------------------------------------------------------
SEC USE ONLY
3
------------------------------------------------------------------------------
SOURCE OF FUNDS
4
WC
------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5
------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF 1,583,951
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING 1,583,951
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
1,583,951
------------------------------------------------------------------------------
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ]
12
------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
20.3%
------------------------------------------------------------------------------
TYPE OF REPORTING PERSON
14
PN
------------------------------------------------------------------------------
<PAGE>
===============================================================================
CUSIP NO. 90339M-10-4
------------------------------------------------------------------------------
NAMES OF REPORTING PERSON: Stolberg Partners, L.P.
1 I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only).
13-3744985
------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
2 (a) [X]
(b) [_]
------------------------------------------------------------------------------
SEC USE ONLY
3
------------------------------------------------------------------------------
SOURCE OF FUNDS
4
WC
------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5
------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF 1,525,159
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING 1,525,159
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
1,525,159
------------------------------------------------------------------------------
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ]
12
------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
19.6%
------------------------------------------------------------------------------
TYPE OF REPORTING PERSON
14
PN
------------------------------------------------------------------------------
<PAGE>
===============================================================================
CUSIP NO. 90339M-10-4
------------------------------------------------------------------------------
NAMES OF REPORTING PERSON: Constitution Partners I, L.P.
1 I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only).
25-172129
------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
2 (a) [X]
(b) [_]
------------------------------------------------------------------------------
SEC USE ONLY
3
------------------------------------------------------------------------------
SOURCE OF FUNDS
4
WC
------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5
------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF 487,228
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING 487,228
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
487,228
------------------------------------------------------------------------------
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ]
12
------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
6.3%
------------------------------------------------------------------------------
TYPE OF REPORTING PERSON
14
PN
------------------------------------------------------------------------------
<PAGE>
===============================================================================
CUSIP NO. 90339M-10-4
------------------------------------------------------------------------------
NAMES OF REPORTING PERSON: RKM Investment Company
1 I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only).
25-1752120
------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
2 (a) [X]
(b) [_]
------------------------------------------------------------------------------
SEC USE ONLY
3
------------------------------------------------------------------------------
SOURCE OF FUNDS
4
AF
------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5
------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
487,228/5/
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
487,228/5/
------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
487,228/5/
------------------------------------------------------------------------------
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ]
12
------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
6.3%
------------------------------------------------------------------------------
TYPE OF REPORTING PERSON
14
PN
------------------------------------------------------------------------------
--------------
/5/ Includes 487,228 shares of Common Stock held by Constitution Partners, L.P.
of which RKM Investment Company is the general partner.
<PAGE>
===============================================================================
CUSIP NO. 90339M-10-4
------------------------------------------------------------------------------
NAMES OF REPORTING PERSON: M&M General Partnership
1 I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only).
25-1752128
------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
2 (a) [X]
(b) [_]
------------------------------------------------------------------------------
SEC USE ONLY
3
------------------------------------------------------------------------------
SOURCE OF FUNDS
4
WC
------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5
------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF 67,366
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING 67,366
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
67,366
------------------------------------------------------------------------------
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ]
12
------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
0.86%
------------------------------------------------------------------------------
TYPE OF REPORTING PERSON
14
PN
------------------------------------------------------------------------------
<PAGE>
===============================================================================
CUSIP NO. 90339M-10-4
------------------------------------------------------------------------------
NAMES OF REPORTING PERSON: Richard K. McDonald
1 I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only).
###-##-####
------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
2 (a) [X]
(b) [_]
------------------------------------------------------------------------------
SEC USE ONLY
3
------------------------------------------------------------------------------
SOURCE OF FUNDS
4
AF and PF
------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5
------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
United States
------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF 204,388/6/
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
554,594/7/
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING 204,388/6/
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
554,594/7/
------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
204,388/6,7/
------------------------------------------------------------------------------
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ]
12
------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
9.7%
------------------------------------------------------------------------------
TYPE OF REPORTING PERSON
14
IN
------------------------------------------------------------------------------
--------------
/6/ Includes three Warrants immediately exercisable into 1,395; 833; and 19,500,
respectively.
/7/ Includes 67,366 shares of Common Stock held by M&M General Partnership,
of which Mr. McDonald is a general partner, and includes 487,228 shares of
Common Stock held by Constitution Partners I, L.P., of which Mr. McDonald is an
offcier of the general partner.
<PAGE>
Item 1. Security and Issuer.
The class of equity securities to which this Statement on Schedule 13D
relates is Common Stock, par value $.01 per share ("Common Stock"), of U.S.
Vision, Inc., a Delaware corporation (sometimes referred to as the "Company" or
"Issurer"). The principal offices of the Company are located at 1 Harmon Drive,
Glen Oaks Industrial Partk, Glendora, NJ 08029.
Item 2. Identity and Background.
(a) The name of each Filer is as follows:
1. Grotech Capital Group, Inc. ("GCG")
2. Grotech Capital Group IV, LLC ("GCGIV")
3. Grotech Partners III, L.P. ("Grotech III")
4. Grotech III Companion Fund, L.P. ("Companion")
5. Grotech III Pennsylvania Fund, L.P. ("Pennsylvania")
6. Grotech Partners IV, L.P. ("Grotech IV")
GCGIV is the general partner of Grotech IV. The following
individuals are managing directors of GCGIV; Frank A. Adams; Dennis J.
Shaughnessy; Stuart D. Frankel; Patrick J. Kerns; and David G. Bannister.
Shaughnessy and J. Roger Sullivan, an officer of GCG and GCGIV, are also
directors of the Issuer. GCG is the general partner of Grotech III,
Companion and Pennsylvania. The managing directors of GCG are the same as
those of GCGIV. The managing directors of GCGIV and GCG disclaim
beneficial ownership of the shares of the issuer held by the Grotech
entities.
7. Stolberg Partners, L.P.
The general partner of Stolberg Partners, L.P. is SGMS, L.P., a
Delaware limited partnership ("SGMS"). The sole general partner of SGMS
is Stolberg, Meehan & Scano, Inc., a Delaware corporation. The principals
of Stolberg, Meehan & Scano, Inc. are E. Theodore Stolberg, Matthew M.
Meehan and Walter P. Scano.
8. Constitution Partners I, L.P. ("Constitution")
9. M&M General Partnership ("M&M")
10. Richard K. McDonald
11. RKM Investment Company ("RKM")
The general partner of Constitution is RKM. Richard K. McDonald, a
director of Issuer, is the managing director of RKM and M&M. Mr. McDonald
disclaims beneficial ownership of the shares held by Constitution and M&M
pursuant to Rule 13d-4.
(b), (c) The principal occupation, if any, of each Filer who is a
natural person and the residence or business address for each Filer is as
follows:
1. Grotech Capital Group, Inc., 9690 Deereco Road, Timonium,
Maryland 21092
2. Grotech Capital Group IV, LLC, 9690 Deereco Road, Timonium,
Maryland 21092
3. Grotech Partners III, L.P., 9690 Deereco Road, Timonium,
Maryland 21092
4. Grotech III Companion Fund, L.P., 9690 Deereco Road, Timonium,
Maryland 21092
5. Grotech III Pennsylvania Fund, L.P., 9690 Deereco Road, Timonium,
Maryland 21092
6. Grotech Partners IV, L.P., 9690 Deereco Road, Timonium,
Maryland 21092
7. Stolberg Partners, L.P., 370 17th Street, Suite 4240, Denver,
CO 80202
8. Constitution Partners I, L.P., 600 Grant Street, 57th Floor, US
Tower, Pittsburgh, PA 15219
9. M&M General Partnership, 600 Grant Street, 57th Floor, US Tower,
Pittsburgh, PA 15219
<PAGE>
10. RKM Investment Company, 600 Grant Street, 57th Floor, US Tower,
Pittsburgh, PA 15219
11. Richard K. McDonald, venture capitalist, 600 Grant Street, 57th
Floor, US Tower, Pittsburgh, PA 15219
(d), (e) During the past five years, none of the Filers has been
convicted in a criminal proceeding (excluding traffic violations or similar
misdemeanors), nor has any of them been a party to a civil proceeding of a
judicial or administrative body of competent jurisdiction or final order
enjoining future violations of, or prohibiting or mandating activities subject
to, federal or state securities laws or finding any violation with respect to
such laws.
(f) Each of Grotech Capital Group, Inc., Grotech Capital Group IV, LLC,
Grotech Partners III, L.P., Grotech III Companion Fund L.P. and Grotech Partners
IV, L.P. is a Delaware limited partnership. Grotech III Pennsylvania Fund, L.P.
is a Pennsylvania limited partnership. Stolberg Partners, L.P. is a Delaware
Limited partnership. Constitution Partners I, L.P. is a Delaware limited
partnership. M&M General Partnership is a Delaware general partnership. RKM
Investment Company is a Delaware general partnership. All Filers which are
natural persons are citizens of the United States.
Item 3. Source and Amount of Funds or Other Consideration.
Item 4 from pages 2 - 12 of this Schedule 13D are incorporated herein by
reference.
Item 4. Purpose of Transaction.
(a) The Filers acquired the securities herein reported for investment
purposes. Depending on market conditions, general economic conditions, and other
factors that each may deem significant to its respective investment decisions,
the Filers may purchase shares of Common Stock in the open market or in private
transactions or may dispose of all or a portion of the shares of Common Stock
that they or any of them presently own or may hereinafter acquire. The Filers
intend to seek to enhance the value of their investment, which may include
pursuing one or more of the following actions: (a) the acquisition by any person
of additional securities of the Company, or the disposition of securities of the
Company; (b) an extraordinary corporate transaction, such as a merger,
reorganization or liquidation, involving the Company or any of its subsidiaries;
(c) a sale or transfer of a material amount of assets of the Company or any its
subsidiaries; (d) any change in the present board of directors or management of
the Company, including any plans or proposals to change the number or term of
directors or to fill any existing vacancies on the board; (e) any material
change in the present capitalization or dividend policy of the Company; (f) any
other material change to the Company's business or corporate structure; (g)
changes in the Company's charter or bylaws or other actions which may impede the
acquisition of control of the Company by any person; (h) causing the Common
Stock or any other class of securities of the Company to be delisted from the
Nasdaq National Market; (i) the Common Stock or any other class of equity
securities of the Company becoming eligible for termination of registration
pursuant to Section 12(g)(4) of the Securities Exchange Act of 1934, as amended;
or (j) any action similar to any of those enumerated above.
(b) On December 27, 2000, George E. Norcross, III, on behalf of Joseph J.
Roberts, and Phillip A. Norcross (the "Norcross Group") entered into a non-
binding Letter of Intent agreement with the Company and the Filers whereby the
parties agreed to pursue a transaction in which the Norcross Group, either
directly or through an entity to be formed by them, would acquire (i) all of the
outstanding shares of common stock for a purchase price of $4.50 per share and
(ii) certain stock options currently exercisable for shares of common stock of
the Company for a purchase price equal to the difference between $4.50 and the
exercise price of such options. The proposed transaction is subject to the
execution of a definitive agreement on terms consistent with the letter
agreement, as well as the satisfaction of certain other conditions set forth
therein, including without limitation approval by the Company's stockholders,
regulatory approvals, receipt of financing and receipt of third party consents
and approvals. The execution of the definitive acquisition agreement and the
closing thereunder will be subject to the Filers and the Norcross Group agreeing
to vote all of the shares of common stock held or controlled by them in favor of
the proposed transaction, which shares represent, in the aggregate,
approximately 78.7% of the Company's outstanding common stock.
<PAGE>
Item 5. Interest in Securities of the Issuer.
(a)-(b) Items 7, 8, 9, 10, 11 and 13 from pages 2 - 12 of this Schedule
13D are incorporated by reference. The Filers own an aggregate of 4,304,728,
representing 54.5% of the Issuer's outstanding Common Stock.
(c) N/A
(d) N/A
(e) N/A
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect
to Securities of the Issuer.
See Item 4(b) above.
Item 7. Material to be filed as Exhibits.
1. Joint Filing Agreement among the parties listed therein dated as of
January 9, 2001.
2. Letter of Intent dated as of December 27, 2000 by and among George E.
Norcross, III, the Company, Grotech Capital Group, Inc., Grotech Capital Group
IV, LLC, Grotech Partners III, L.P., Grotech III Companion Fund, L.P., Grotech
III Pennsylvania Fund, L.P., Grotech Partners IV, L.P., Stolberg Partners, L.P.,
Constitution Partners I, L.P., M&M General Partnership, Richard K. McDonald, and
RKM Investment Company.
<PAGE>
SIGNATURES
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this Statement is true, complete and
correct.
GROTECH CAPITAL GROUP, INC.
January 9, 2001 BY: /S/ Dennis J. Shaughnessy
--------------------------
Dennis J. Shaughnessy
Managing Director
GROTECH CAPITAL GROUP IV, LLC
January 9, 2001 BY: /S/ Dennis J. Shaughnessy
--------------------------
Dennis J. Shaughnessy
Managing Director
GROTECH PARTNERS III, L.P.
By Grotech Capital Group, Inc., its general
partner
January 9, 2001 BY: /S/ Dennis J. Shaughnessy
--------------------------
Dennis J. Shaughnessy
Managing Director
<PAGE>
GROTECH III COMPANION FUND, L.P.
BY: Grotech Capital Group, Inc., its general
partner
January 9, 2001 BY: /S/ Dennis J. Shaughnessy
--------------------------
Dennis J. Shaughnessy
Managing Director
GROTECH III PENNSYLVANIA FUND, L.P.
BY: Grotech Capital Group, Inc., its general
partner
January 9, 2001 BY: /S/ Dennis J. Shaughnessy
--------------------------
Dennis J. Shaughnessy
Managing Director
GROTECH PARTNERS IV, L.P.
BY: Grotech Capital Group IV, LLC, its general
partner
January 9, 2001 BY: /S/ Dennis J. Shaughnessy
--------------------------
Dennis J. Shaughnessy
Managing Director
STOLBERG PARTNERS, L.P.
BY: SGMS, L.P., its general partner
BY: Stolberg Meehan and Scano Inc.,
its general partner
January 9, 2001 BY: /S/ E. Theodore Stolberg
-------------------------
E. Theodore Stolberg
<PAGE>
CONSTITUTION PARTNERS I, L.P.
BY: RKM Investment Company, its general partner
January 9, 2001 BY: /S/ Richard K. McDonald
------------------------
Richard K. McDonald
Managing Partner
M&M GENERAL PARTNERSHIP
January 9, 2001 BY: /S/ Richard K. McDonald
------------------------
Richard K. McDonald
Managing Partner
January 9, 2001 /S/ Richard K. McDonald
------------------------
Richard K. McDonald
RKM INVESTMENT COMPANY
January 9, 2001 BY: /S/ Richard K. McDonald
------------------------
Richard K. McDonald
Managing Partner
