<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
______________________
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. )
NetVantage, Inc.
------------------------------------------------
(Name of Issuer)
Class A Common Stock, par value $.001 per share
--------------------------------------------------
(Title of Class of Securities)
64120U104
-------------------
(CUSIP Number)
Andrew S. Paul, Esq.
c/o Tudor Investment Corporation
One Liberty Plaza (51st Floor)
New York, New York 10006
(212) 602-6700
----------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
October 4, 1996
-----------------------------------------------------------
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box [ ].
Check the following box if a fee is being paid with the statement [ ].
Page 1
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- ---------------------
CUSIP NO. 64120U104
- ---------------------
- ------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Tudor Investment Corporation
TIN: 22-2514825
- ------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X ]
- ------------------------------------------------------------
3. SEC USE ONLY
- ------------------------------------------------------------
4. SOURCE OF FUNDS
OO
- ------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
[ ]
- ----------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- ------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES ------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 222,600
EACH ------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 0
WITH ------------------------------------
10 SHARED DISPOSITIVE POWER
222,600
- ------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
222,600
- ------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
[ ]
- ------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.6%
- ------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
- ------------------------------------------------------------
Page 2
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- ---------------------
CUSIP NO. 64120U104
- ---------------------
- ------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Paul Tudor Jones, II
TIN:
- ------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X ]
- ------------------------------------------------------------
3. SEC USE ONLY
- ------------------------------------------------------------
4. SOURCE OF FUNDS
OO
- ------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
[ ]
- --------------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
- --------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES ------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 240,000
EACH ------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 0
WITH ------------------------------------
10 SHARED DISPOSITIVE POWER
240,000
- ------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
240,000
- ------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
[ ]
- ------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.1%
- ------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- ------------------------------------------------------------
Page 3
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- ---------------------
CUSIP NO. 64120U104
- ---------------------
- ------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
The Raptor Global Fund Ltd.
TIN: n/a
- ------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X ]
- ------------------------------------------------------------
3. SEC USE ONLY
- ------------------------------------------------------------
4. SOURCE OF FUNDS
OO
- ------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
[ ]
- ----------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
- ----------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES ------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 80,200
EACH ------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 0
WITH ------------------------------------
10 SHARED DISPOSITIVE POWER
80,200
- ------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
80,200
- ------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
[ ]
- ------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.4%
- ------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
- ------------------------------------------------------------
Page 4
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- ---------------------
CUSIP NO. 64120U104
- ---------------------
- ------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
The Raptor Global Fund L.P.
TIN: 13-3735415
- ------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X ]
- ------------------------------------------------------------
3. SEC USE ONLY
- ------------------------------------------------------------
4. SOURCE OF FUNDS
OO
- ------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
[ ]
- ----------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- ----------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES ------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 35,900
EACH ------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 0
WITH ------------------------------------
10 SHARED DISPOSITIVE POWER
35,900
- ------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
35,900
- ------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
[ ]
- ------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.1%
- ------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
- ------------------------------------------------------------
Page 5
<PAGE>
- ---------------------
CUSIP NO. 64120U104
- ---------------------
- ------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Tudor Arbitrage Partners L.P.
TIN: 13-3496979
- ------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X ]
- ------------------------------------------------------------
3. SEC USE ONLY
- ------------------------------------------------------------
4. SOURCE OF FUNDS
OO
- ------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
[ ]
- ----------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- ----------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES ------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 17,400
EACH ------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 0
WITH ------------------------------------
10 SHARED DISPOSITIVE POWER
17,400
- ------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
17,400
- ------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
[ ]
- ------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.5%
- ------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
- ------------------------------------------------------------
Page 6
<PAGE>
- ---------------------
CUSIP NO. 64120U104
- ---------------------
- ------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Tudor Global Trading LLC
TIN: 13-3862744
- ------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X ]
- ------------------------------------------------------------
3. SEC USE ONLY
- ------------------------------------------------------------
4. SOURCE OF FUNDS
OO
- ------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
[ ]
- ----------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- ----------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES ------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 17,400
EACH ------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 0
WITH ------------------------------------
10 SHARED DISPOSITIVE POWER
17,400
- ------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
17,400
- ------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
[ ]
- ------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.5%
- ------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
- ------------------------------------------------------------
Page 7
<PAGE>
- ---------------------
CUSIP NO. 64120U104
- ---------------------
- ------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Tudor BVI Futures, Ltd.
TIN: n/a
- ------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X ]
- ------------------------------------------------------------
3. SEC USE ONLY
- ------------------------------------------------------------
4. SOURCE OF FUNDS
OO
- ------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
[ ]
- ------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
British Virgin Islands
- ------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES ------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 89,400
EACH ------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 0
WITH ------------------------------------
10 SHARED DISPOSITIVE POWER
89,400
- ------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
89,400
- ------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
[ ]
- ------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.7%
- ------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
Page 8
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- --------------------------------------------------------------------------------
CUSIP NO. 64120U104
- ---------------------
- ------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
The Upper Mill Capital Appreciation Fund Ltd.
TIN: n/a
- ------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X ]
- ------------------------------------------------------------
3. SEC USE ONLY
- ------------------------------------------------------------
4. SOURCE OF FUNDS
OO
- ------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
[ ]
- ----------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
- ----------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES ------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 17,100
EACH ------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 0
WITH ------------------------------------
10 SHARED DISPOSITIVE POWER
17,100
- ------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
17,100
- ------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
[ ]
- ------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.5%
- ------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
- ------------------------------------------------------------
Page 9
<PAGE>
Item 1. Security and Issuer
-------------------
This Schedule 13D, dated October 11, 1996, filed by Tudor Investment
Corporation, a Delaware corporation ("TIC"), Paul Tudor Jones, II, a natural
person and a citizen of the United States ("Mr. Jones"), Tudor Global Trading
LLC, a Delaware limited liability company ("TGT"), The Raptor Global Fund Ltd.,
a company organized under the laws of the Cayman Islands ("Raptor Ltd."), The
Raptor Global Fund L.P., a Delaware limited partnership ("Raptor L.P."), Tudor
Arbitrage Partners L.P., a Delaware limited partnership ("TAP"), Tudor BVI
Futures, Ltd., a company organized under the laws of the British Virgin Islands
("Tudor BVI"), and The Upper Mill Capital Appreciation Fund Ltd., a company
organized under the laws of the Cayman Islands ("Upper Mill", and collectively
with TIC, Mr. Jones, TGT, Raptor Ltd., Raptor L.P., TAP, and Tudor BVI, the
"Reporting Persons") relates to the Class A Common Stock, par value $.001 per
share (the "Common Stock"), of NetVantage, Inc., a Delware corporation (the
"Company") /*/ The summaries of information on schedules attached hereto are
qualified in their entirety by reference to such schedules, which are
incorporated by reference herein.
The Company's principal executive offices are located at 201
Continental Boulevard, Suite 201, El Segundo, CA 90245-4527.
Item 2. Identity and Background.
-----------------------
The Reporting Persons are TIC, Mr. Jones, Raptor Ltd., Raptor L.P.,
TAP, TGT, Tudor BVI, and Upper Mill. The business address of each of TIC, Mr.
Jones, Raptor L.P., TAP, and TGT is c/o Tudor Investment Corporation, 600
Steamboat Road, Greenwich, CT 06830. The business address of each of Raptor
Ltd., Tudor BVI, and Upper Mill is c/o Curacao International Trust Company N.V.,
Kaya Flamboyan 9, Curacao, Netherlands Antilles.
TIC is an international money management firm that engages in
proprietary trading and provides investment advice to Raptor Ltd., Raptor L.P.,
Tudor BVI, and Upper Mill among others.
- ---------------------
/*/ For purposes of this Statement on Schedule 13D the Reporting Persons have
filed as a "group". Nevertheless, the Reporting Persons hereby disclaim that
they are members of a "group" for purposes of Section 13(d) of the Securities
Exchange Act of 1934 or for any other purpose.
Page 10
<PAGE>
Mr. Jones' principal employment is as Chairman and Chief Executive
Officer of TIC of which he owns a majority of the capital stock and voting
securities.
Each of Raptor Ltd., Raptor L.P., TAP, Tudor BVI, and Upper Mill is an
investment fund which principally invests in debt, equity, derivative
securities, and other financial instruments for the benefit of the holders of
its partnership, stock, and other capital securities.
TGT is the sole general partner of TAP and TIC is the sole general
partner of Raptor L.P.
The name, residence or business address, present principal occupation
or employment, the name, principal business, and address of any corporation or
other organization in which such employment is conducted and the citizenship of
each natural person that is a director or executive officer of TIC, TGT, Raptor
Ltd., Tudor BVI, and Upper Mill is set forth on Schedule I hereto and is
incorporated by reference herein.
During the last five years, none of the Reporting Persons, or to the
best knowledge and belief of the Reporting Persons, any of the individuals
listed on Schedule I hereto, has been convicted in a criminal proceeding
(excluding traffic violations or similar misdemeanors) or has been a party to a
civil proceeding of a judicial or administrative body of competent jurisdiction
as a result of which any Reporting Person or any person listed on Schedule I was
or is subject to a judgment, decree or final order enjoining future violations
of, or prohibiting activities subject to, federal or state securities laws or
finding any violation of such law, except as follows:
On September 12, 1996, TIC settled a proceeding with the Securities
and Exchange Commission (the "SEC") relating to alledged violations of the
"uptick rule" in connection with certain sales of stock over a two day period in
March 1994. Without admitting or denying the SEC's findings, TIC paid a civil
penalty of $800,000, and agreed not to violate the uptick rule in the future.
Page 11
<PAGE>
Item 3. Source and Amount of Funds or Other Consideration.
-------------------------------------------------
The shares of Common Stock beneficially owned by each of Raptor Ltd.,
Raptor L.P., TAP, Tudor BVI, and Upper Mill were acquired in open market
purchases for cash on the dates and for the prices set forth on Schedule II
hereto. The sources of the funds used to purchase the shares of Common Stock by
each of the Reporting Persons were (i) capital contributions to such Reporting
Person, (ii) the proceeds of transactions with respect to prior investments held
by such Reporting Persons, and (iii) cash borrowed pursuant to margin loans with
Morgan Stanley & Co. Incorporated, which are secured by all of the shares of
Common Stock held by such Reporting Person.
Item 4. Purpose of Transaction.
----------------------
Each of Raptor Ltd., Raptor L.P., TAP, Tudor BVI, and Upper Mill
initially acquired the Common Stock beneficially owned by such Reporting Person
for investment purposes. Each of such Reporting Persons intends to continue to
evaluate their respective investments in Common Stock based on the Company's
financial condition, results of operations, and prospects as well as other then
existing or anticipated facts and circumstances including general economic,
market, and other financial conditions. Accordingly, each of the Reporting
Persons reserves the right to change its plans and intentions with respect to
its investment in securities of the Company at any time, as it deems
appropriate. In particular, each of the Reporting Persons may at any time and
from time to time (i) acquire additional shares of Common Stock, (ii) dispose of
Common Stock, or (iii) enter into privately negotiated derivative transactions
with institutional counterparties to hedge the market risk of some or all of its
positions in the Common Stock. There can be no assurance that any Reporting
Person will increase or decrease his investment in the Company or as to the
number of shares of Common Stock or derivative securities that may be bought or
sold in any such transactions.
Except as set forth in this Schedule 13D, none of the Reporting
Persons currently has any plans or proposals which relate to or would result in
any of the transactions, actions or events enumerated in paragraphs (a) through
(j) of the instructions to Item 4 of Schedule 13D.
Item 5. Interest in Securities of the Issuer.
------------------------------------
Attached hereto as Schedule II is a list of the transactions by each
of the Reporting Persons in Common Stock since August 7, 1996.
Page 12
<PAGE>
Because TIC is the sole general partner of Raptor L.P. and provides
investment advisory services to Raptor Ltd., Raptor L.P., Tudor BVI, and Upper
Mill, TIC may be deemed to beneficially own the shares of Common Stock owned by
each of such Reporting Persons. TGT, as the sole general partner of TAP, may be
deemed to beneficially own the shares of Common Stock owned by TAP. In
addition, because Mr. Jones owns a majority of the capital stock and voting
securities of TIC, and indirectly owns a majority of the equity interests of
TGT, Mr. Jones may be deemed to beneficially own the shares of Common Stock
deemed beneficially owned by TIC and TGT.
Based on information provided by the Company that there were 3,372,000
shares of Common Stock issued and outstanding as of October 4, 1996, each
Reporting Person beneficially owns (or, with respect to TIC, Mr. Jones, and TGT,
may be deemed to beneficially own) the number and percentage of outstanding
shares of Common Stock listed in the responses to Items 11 and 13, respectively,
of the cover page filed herewith for such Reporting Person. In addition, the
number of shares of Common Stock beneficially owned (or, with respect to TIC,
Mr. Jones, and TGT, which may be deemed beneficially owned) by each Reporting
Person with respect to which such Reporting Person (i) has sole voting power,
(ii) shares voting power, (iii) has sole dispositive power and (iv) shares
dispositive power are listed in the responses to Items 7, 8, 9, and 10,
respectively, of the cover page filed herewith for such Reporting Person. The
voting and dispositive power is reported as shared because each of the Reporting
Persons (other than TIC, Mr. Jones, and TGT) has the power to remove TIC or TGT
as its investment advisor or general partner, as the case may be. Each of
Raptor Ltd., Raptor L.P., TAP, Tudor BVI, and Upper Mill expressly disclaims
beneficial ownership of the shares of Common Stock beneficially owned by any
other Reporting Person and each of TIC, Mr. Jones, and TGT disclaims beneficial
ownership of the Common Stock beneficially owned by Raptor Ltd., Raptor L.P.,
TAP, Tudor BVI, and Upper Mill.
Item 6. Contracts, Arrangements, Understandings
or Relationships with Respect to Securities
of the Issuer
-------------------------------------------
Except as set forth in this Amendment, none of the Reporting Persons
has any contracts, arrangements, understandings or relationships with respect to
the securities of the Company.
Item 7. Material to Be Filed as Exhibits
--------------------------------
(1) Joint Filing Agreement
Page 13
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this Schedule 13D is true, complete,
and correct.
Dated: October 11, 1996
TUDOR INVESTMENT CORPORATION
By: /s/ Andrew S. Paul
-----------------------
Name: Andrew S. Paul
Title: Vice President &
General Counsel
/s/ Paul Tudor Jones, II
-------------------------
Paul Tudor Jones, II
THE RAPTOR GLOBAL FUND LTD.
By: TUDOR INVESTMENT CORPORATION,
Trading Advisor
By: /s/ Andrew S. Paul
--------------------
Name: Andrew S. Paul
Title: Vice President &
General Counsel
THE RAPTOR GLOBAL FUND L.P.
By: TUDOR INVESTMENT CORPORATION,
General Partner
By: /s/ Andrew S. Paul
--------------------
Name: Andrew S. Paul
Title: Vice President &
General Counsel
Page 14
<PAGE>
TUDOR ARBITRAGE PARTNERS L.P.
By: TUDOR GLOBAL TRADING LLC,
General Partner
By: /s/ Andrew S. Paul
--------------------
Name: Andrew S. Paul
Title: Vice President &
General Counsel
By: TUDOR GLOBAL TRADING LLC
By: /s/ Andrew S. Paul
------------------
Name: Andrew S. Paul
Title: Vice President &
General Counsel
TUDOR BVI FUTURES, LTD.
By: TUDOR INVESTMENT CORPORATION,
Trading Advisor
By: /s/ Andrew S. Paul
------------------
Name: Andrew S. Paul
Title: Vice President &
General Counsel
THE UPPER MILL CAPITAL APPRECIATION
FUND LTD.
By: TUDOR INVESTMENT CORPORATION,
Sub-Trading Advisor
By: /s/ Andrew S. Paul
------------------
Name: Andrew S. Paul
Title: Vice President &
General Counsel
Page 15
<PAGE>
Schedule I
EXECUTIVE OFFICERS AND DIRECTORS
OF THE REPORTING PERSONS
I. TIC
The name, residence or business address, present principal occupation
or employment, the name, principal business, and address of any corporation or
other organization in which such employment is conducted and the citizenship of
each executive officer or director of TIC is set forth below. Unless otherwise
indicated (i) the principal occupation or employment of such person is as an
executive officer or director of TIC, (ii) the business address of such person
is c/o TIC at the address of TIC set forth under Item 2 of this Schedule 13D,
(iii) such person is a citizen of the United States, and (iv) to the knowledge
of the Reporting Persons, such person does not beneficially own and has not had
any transactions in the Common Stock.
Principal Occupation/
Name Business Address
- ---- -----------------------------
Paul Tudor Jones, II/*/ Chairman of the Board of Directors, Chief
Executive Officer of TIC.
Mark F. Dalton Director, President, and Chief
Operating Officer of TIC.
Patrick A. Keenan Director, Vice President, and Chief
Financial Officer of TIC.
Mark A. Heffernan Director of TIC. Mr. Heffernan trades
Citizen of United in securities and other financial instruments
Kingdom for Tudor Proprietary Trading L.L.C. and Tudor Capital
(U.K.), L.P., both of which are located at The Upper
Mill, Kingston Road, Ewell, Surrey KT17 2AF, England.
Andrew S. Paul Director, Vice President, General
Counsel, and Corporate Secretary of TIC.
Richard L. Fisher Director of TIC. Mr. Fisher is Senior
Vice President of Dunavant Enterprises, Inc., 3797
Getwell Road, Memphis, TN 38118.
- --------------------------
/*/See Item 5 of this Schedule 13D for a discussion of Mr. Jones' potential
beneficial ownership of Common Stock.
Page 16
<PAGE>
II. RAPTOR LTD.
The name, residence or business address, present principal occupation
or employment, the name, principal business, and address of any corporation or
other organization in which such employment is conducted and the citizenship of
each executive officer or director of Raptor Ltd. is set forth below. Unless
otherwise indicated (i) the principal occupation or employment of such person is
as set forth below, (ii) the business address of such person is c/o Inter
Caribbean Services Ltd., (iii) such person is a citizen of the country set forth
below, and (iv) to the knowledge of the Reporting Persons, such person does not
beneficially own and has not had any transactions in the Common Stock.
Principal Occupation/
Name Business Address
- ---- -------------------------------
Inter Caribbean Services Ltd. Director of Raptor Ltd. The principal
Incorporated in British place of business of Inter Caribbean
Virgin Islands Services Ltd. is c/o Curacao International Trust
Company N.V. ("CITCO"), Kaya Flamboyan 9,
Netherlands Antilles.
Bernard A. Loze Director of Raptor Ltd. Chairman and Chief
Citizen of France Executive Officer of Loze et Associes, 43,
Avenue Marceau, Paris 75116, France, which is a
consulting firm that provides financial and
investment advice to international clients.
Arpad A. Busson Director of Raptor Ltd. Chairman of European
Citizen of France Investment Managers, c/o Harney, Westwood &
Riegels, P.O. Box 71, Road Town, Tortola,
British Virgin Islands, which is a consulting
and money management firm.
Page 17
<PAGE>
III. TUDOR GLOBAL TRADING LLC
The name and present principal occupation or employment of each
executive officer of TGT is set forth below. The business address of such
person is c/o TIC at the address of TIC set forth under Item 2 of this Schedule
13D, each such person is a citizen of the United States and to the knowledge of
the Reporting Persons, such person does not beneficially own and has not had any
transactions in the Common Stock.
Name Principal Occupation
- ---- -------------------------------------
Paul Tudor Jones, II/*/ Chairman of the Board of Directors, Chief
Executive Officer of TIC.
Mark F. Dalton Director, President, and Chief
Operating Officer of TIC.
Patrick A. Keenan Director, Vice President, and Chief
Financial Officer of TIC.
Andrew S. Paul Director, Vice President, General
Counsel, and Corporate Secretary of TIC.
- -------------------------
/*/See Item 5 of this Schedule 13D for a discussion of Mr. Jones' potential
beneficial ownership of Common Stock.
Page 18
<PAGE>
IV. TUDOR BVI
The name, residence or business address, present principal occupation
or employment, the name, principal business, and address of any corporation or
other organization in which such employment is conducted and the citizenship of
each executive officer or director of Tudor BVI is set forth below. To the
knowledge of the Reporting Persons, the below listed persons neither currently
beneficially own nor have had any transactions in the Common Stock.
Principal Occupation/
Name Business Address
- ---- -------------------------------
Inter Caribbean Services Ltd. Director of Tudor BVI. See information under
Raptor Ltd.
David P. d'Abrumenil Director of Tudor BVI.
Citizen of United Kingdom Chairman, Lionspring Enterprises Limited, 36 John
Street, London WC1N 2AT, England, which is a
financial consulting firm.
Jean-Pierre Jacquemoud Director of Tudor BVI. Attorney,
Citizen of Switzerland Jacquemoud & Stanislas, 2, rue Bellow,
Geneva 1206, Switzerland.
Bernard A. Loze Director of Tudor BVI. See information
under Raptor Ltd.
Arpad A. Busson Director of Tudor BVI. See information
under Raptor Ltd.
Page 19
<PAGE>
V. Upper Mill
The name, residence or business address, present principal occupation
or employment, the name, principal business, and address of any corporation or
other organization in which such employment is conducted and the citizenship of
each executive officer or director of Tudor BVI is set forth below. To the
knowledge of the Reporting Persons, the below listed persons neither currently
beneficially own nor have had any transactions in the Common Stock.
Principal Occupation/
Name Business Address
- ---- -------------------------------
Inter Caribbean Services Ltd. Director of Upper Mill. See information under
Raptor Ltd.
Jean-Pierre Jacquemoud Director of Upper Mill. See information
under Tudor BVI.
Anthony J. Stocks Director of Upper Mill. Managing Director of
Citizen of United Kingdom Curacao International Trust Company N.V.
Ben H. Jansen Director of Upper Mill. Managing Director of
Citizen of Netherlands Curacao International Trust Company N.V.
Page 20
<PAGE>
Schedule II
TRANSACTIONS
All shares of Common Stock were purchased or sold in open market
transactions for cash.
<TABLE>
<CAPTION>
Tudor BVI
- ---------
Date Transaction # Shares $/Share
- ---- ----------- -------- ---------
<C> <S> <C> <C>
9/10/96 Purchase 12,500 11.9688
9/11/96 Purchase 4,200 11.9375
9/12/96 Purchase 4,200 11.2348
9/13/96 Purchase 1,300 11.250
9/26/96 Purchase 3,900 12.750
9/27/96 Purchase 3,900 14.125
10/2/96 Purchase 6,500 14.7675
10/3/96 Purchase 7,800 14.9688
10/3/96 Purchase 2,700 14.9811
10/4/96 Purchase 1,400 15.500
10/4/96 Purchase 5,900 15.4583
10/4/96 Purchase 9,800 15.750
10/8/96 Purchase 12,500 15.9167
10/8/96 Purchase 800 16.000
10/9/96 Purchase 6,200 16.4167
10/9/96 Purchase 800 16.750
10/10/96 Purchase 5,000 15.625
</TABLE>
Total Common Stock beneficially owned as of
the date this Schedule 13D: 89,400
Page 21
<PAGE>
<TABLE>
<CAPTION>
Raptor L.P.
- -----------
Date Transaction # Shares $/Share
- ---- ----------- -------- ---------
<C> <S> <C> <C>
9/10/96 Purchase 5,700 11.9688
9/11/96 Purchase 1,700 11.9375
9/12/96 Purchase 1,700 11.2348
9/13/96 Purchase 500 11.250
9/26/96 Purchase 1,600 12.750
9/27/96 Purchase 1,600 14.125
10/2/96 Purchase 2,600 14.7675
10/3/96 Purchase 3,100 14.9688
10/3/96 Purchase 1,100 14.9811
10/4/96 Purchase 600 15.500
10/4/96 Purchase 2,400 15.4583
10/4/96 Purchase 3,900 15.750
10/8/96 Purchase 5,000 15.9167
10/8/96 Purchase 300 16.000
10/9/96 Purchase 2,500 16.4167
10/9/96 Purchase 300 16.750
10/10/96 Purchase 2,000 15.625
</TABLE>
Total Common Stock beneficially owned as of
the date of this Schedule 13D: 35,900
Page 22
<PAGE>
<TABLE>
<CAPTION>
TAP
- ---
Date Transaction # Shares $/Share
- ---- ----------- -------- ---------
<C> <S> <C> <C>
8/7/96 Purchase 3,300 10.500
8/7/96 Purchase 3,300 10.420
9/10/96 Purchase 1,300 11.9688
9/11/96 Purchase 400 11.9375
9/12/96 Purchase 400 11.2348
9/13/96 Purchase 100 11.250
9/26/96 Purchase 600 12.750
9/27/96 Purchase 600 14.125
10/2/96 Purchase 700 14.7675
10/3/96 Purchase 1,100 14.9688
10/3/96 Purchase 300 14.9811
10/4/96 Purchase 200 15.500
10/4/96 Purchase 900 15.4583
10/4/96 Purchase 1,600 15.750
10/8/96 Purchase 1,300 15.9167
10/8/96 Purchase 100 16.000
10/9/96 Purchase 700 16.4167
10/9/96 Purchase 100 16.750
10/10/96 Purchase 500 15.625
</TABLE>
Total Common Stock beneficially owned as of
the date of this Schedule 13D: 17,400
<TABLE>
<CAPTION>
Raptor Ltd.
- -----------
Date Transaction # Shares $/Share
- ---- ----------- -------- ---------
<C> <S> <C> <C>
9/10/96 Purchase 11,200 11.9688
9/11/96 Purchase 3,700 11.9375
9/12/96 Purchase 3,700 11.2348
9/13/96 Purchase 1,100 11.250
9/26/96 Purchase 3,500 12.750
9/27/96 Purchase 3,500 14.125
10/2/96 Purchase 5,900 14.7675
10/3/96 Purchase 7,000 14.9688
10/3/96 Purchase 2,500 14.9811
10/4/96 Purchase 1,300 15.500
10/4/96 Purchase 5,200 15.4583
10/4/96 Purchase 8,700 15.750
10/8/96 Purchase 11,200 15.9167
10/8/96 Purchase 800 16.000
10/9/96 Purchase 5,600 16.4167
10/9/96 Purchase 800 16.750
10/10/96 Purchase 4,500 15.625
</TABLE>
Total Common Stock beneficially owned as of
the date of this Schedule 13D: 80,200
Page 23
<PAGE>
<TABLE>
<CAPTION>
Upper Mill
- ----------
Date Transaction # Shares $/Share
- ---- ----------- -------- ---------
<C> <S> <C> <C>
8/7/96 Purchase 6,700 10.500
8/7/96 Purchase 6,700 10.420
9/26/96 Purchase 400 12.750
9/27/96 Purchase 400 14.125
10/3/96 Purchase 1,000 14.9688
10/4/96 Purchase 200 15.500
10/4/96 Purchase 600 15.4583
10/4/96 Purchase 1,100 15.750
</TABLE>
Total Common Stock beneficially owned as of
the date of this Schedule 13D: 17,100
Page 24
<PAGE>
EXHIBIT 1
JOINT FILING AGREEMENT
Pursuant to Rule 13d-1(f) of the Securities Exchange Act of 1934, as
amended, the undersigned hereby agree to the joint filing of the Schedule 13D
and any amendments thereto, relating to the Class A Common Stock, par value
$.001 per share, of NetVantage, Inc., and the inclusion of this Joint Filing
Agreement as an Exhibit to such Joint Filings. Each party to this Joint Filing
Agreement expressly authorizes each other party to file on its behalf any and
all amendments to such Statement. This Agreement may be executed in any number
of counterparts, each of which shall be deemed an original, and all of which
shall constitute one and the same instrument.
Dated: October 11, 1996
TUDOR INVESTMENT CORPORATION
By: /s/ Andrew S. Paul
-------------------
Name: Andrew S. Paul
Title: Vice President &
General Counsel
/s/ Paul Tudor Jones, II
------------------------
Paul Tudor Jones, II
THE RAPTOR GLOBAL FUND LTD.
By: TUDOR INVESTMENT CORPORATION,
Trading Advisor
By: /s/ Andrew S. Paul
------------------
Name: Andrew S. Paul
Title: Vice President &
General Counsel
Page 25
<PAGE>
THE RAPTOR GLOBAL FUND L.P.
By: TUDOR INVESTMENT CORPORATION,
General Partner
By: /s/ Andrew S. Paul
--------------------
Name: Andrew S. Paul
Title: Vice President &
General Counsel
TUDOR ARBITRAGE PARTNERS L.P.
By: TUDOR GLOBAL TRADING LLC,
General Partner
By: /s/ Andrew S. Paul
--------------------
Name: Andrew S. Paul
Title: Vice President &
General Counsel
By: TUDOR GLOBAL TRADING LLC
By: /s/ Andrew S. Paul
--------------------
Name: Andrew S. Paul
Title: Vice President &
General Counsel
TUDOR BVI FUTURES, LTD.
By: TUDOR INVESTMENT CORPORATION,
Trading Advisor
By: /s/ Andrew S. Paul
--------------------
Name: Andrew S. Paul
Title: Vice President &
General Counsel
Page 26
<PAGE>
THE UPPER MILL CAPITAL APPRECIATION
FUND LTD.
By: TUDOR INVESTMENT CORPORATION,
Sub-Trading Advisor
By: /s/ Andrew S. Paul
------------------
Name: Andrew S. Paul
Title: Vice President &
General Counsel
Page 27
