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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
_______________
AMENDMENT NO. 3
TO
SCHEDULE 13E-3
RULE 13E-3 TRANSACTION STATEMENT
(PURSUANT TO SECTION 13(c) OF THE
SECURITIES EXCHANGE ACT OF 1934)
EMERGING COMMUNICATIONS, INC.
(Name of the Issuer)
EMERGING COMMUNICATIONS, INC.
INNOVATIVE COMMUNICATION CORPORATION
INNOVATIVE COMMUNICATION COMPANY, LLC
JEFFREY J. PROSSER
(Name of Person(s) Filing Statement)
COMMON STOCK, PAR VALUE $0.01 PER SHARE
(Title of Class of Securities)
29089K108
(CUSIP Number of Class of Securities)
Jeffrey J. Prosser
Innovative Communication Company, LLC
Chase Financial Center
P.O. Box 1730
St. Croix, U.S. Virgin Islands 00821
(340) 777-7700
(Name, Address and Telephone Number of Person Authorized to Receive
Notices and Communications on Behalf of Person(s) Filing Statement)
Copy to:
Roger Meltzer, Esq.
Cahill Gordon & Reindel
80 Pine Street
New York, New York 10005
(212) 701-3000
This statement is filed in connection with (check the appropriate box):
[ ] (a) The filing of solicitation materials or an information statement
subject to Regulation 14A, Regulation 14C, or Rule 13e-3(c) under the
Securities Exchange Act of 1934.
[ ] (b) The filing of a registration statement under the Securities Exchange
Act of 1933.
[X] (c) A tender offer.
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[ ] (d) None of the above.
Check the following box if the soliciting materials or information statement
referred to in checking box (a) are preliminary copies. [ ]
Calculation of Filing Fee
Transaction Valuation*: Amount of Filing Fee**:
$ 54,860,644.50 $10,973.00
* For purposes of calculating the filing fee only. The filing fee was
calculated, pursuant to Section 13(e)(3) of the Securities Exchange Act of
1934, as amended, and Rule 0-11 thereunder, on the basis of 5,352,258
Shares of Common Stock (the number of Common Stock outstanding on the date
hereof, but excluding 5,606,873 Shares of Common Stock owned by Innovative
Communications Company), multiplied by the proposed acquisition price U.S.
$10.25 per share.
** 1/50 of 1% of Transaction Valuation.
[X] Check box if any part of the fee is offset as provided by Rule 0-11(a)(2)
and identify the filing with which the offsetting fee was previously paid.
Identify the previous filing by registration statement number, or the form
or schedule and the date of its filing.
Amount Previously Paid: $10,973.00
Form of Registration No.: Schedule 14D-1
Filing Parties: Innovative Communication, Corporation
Innovative Communication, Company, LLC
Jeffrey J. Prosser
Date Filed: August 24, 1998
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Cross-Reference Sheet
Item in Location of Item(s)
Schedule 13E-3 in Schedule 14D-1
- -------------- -----------------
1(a)........................................ 1(a)
(b)........................................ 1(b)
(c)........................................ 1(c)
(d)-(f)........................................ *
2(a)-(g)....................................... 2(a)-(g)
3(a)(1)........................................ 3(a)
3(a)(2)........................................ 3(b)
3(b)........................................... *
4(a)........................................... *
(b)............................................ **
5(a)-(g).................................... 5
6(a)........................................ 4(a)
(b)........................................ *
(c)........................................ 4(b)
(d)........................................ **
7(a)........................................ 5
(b)-(d).................................... *
8(a)-(e).................................... *
(f)........................................ **
9........................................... *
10(a)-(b).................................... 6(a)-(b)
11........................................... 7
12........................................... *
13(a)........................................ *
(b)(c)
14(a)........................................ *
(b)........................................ **
15(a)........................................ **
(b)........................................ 8
16 10(f)
17(a) 11(b)
(b)........................................ *
(c)........................................ *
(d)........................................ 11(a)
(e)........................................ *
(f)........................................ **
_______________________
* The Item is not required by Schedule 14D-1 of the Exchange Act.
** The Item is not applicable or the answer thereto is in the negative.
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This Amendment No. 3 to Rule 13E-3 Transaction Statement (the "Schedule
13E-3") is being filed by Emerging Communications, Inc., a Delaware corporation
(the "Company"), Innovative Communication Corporation, a U.S. Virgin Islands
corporation (the "Purchaser") and a wholly owned subsidiary of Innovative
Communication Company, LLC, a Delaware limited liability company ("Parent"), and
by the Parent and Jeffrey J. Prosser, pursuant to Section 13(e) of the
Securities and Exchange Act of 1934, as amended (the "Exchange Act"), and Rule
13e-3 thereunder in connection with the tender offer by the Purchaser for all of
the outstanding shares of Common Stock, par value $0.01 per share (the
"Shares"), of the Company not currently directly or indirectly owned by Parent,
net to the seller in cash, without interest thereon, upon the terms and subject
to the conditions set forth in the Offer to Purchase, dated August 24, 1998 (as
supplemented, the "Offer to Purchase") and in the related Letter of Transmittal
(the "Letter of Transmittal", together with the Offer to Purchase, the "Offer").
This Schedule 13E-3 is intended to satisfy the reporting requirements of Section
13(e) of the Exchange Act. The preceding cross-reference sheet, prepared
pursuant to General Instruction F to Schedule 13E-3 of the Exchange Act, shows
the location in the Schedule 14D-1 and Schedule 13 D/A (as amended, the
"Schedule 14D-1") of the information required to be included in response to the
items of Schedule 13E-3 of the Exchange Act. The Schedule 14D-1 was originally
filed by the Purchaser, the Parent and Jeffrey J. Prosser on August 24, 1998. An
amendment thereto ("Amendment No. 3 to Schedule 14D-1") is being filed
contemporaneously herewith. The information contained in the Schedule 14D-1,
including all exhibits thereto, is expressly and hereby incorporated herein by
reference and the responses to each item are qualified in their entirety by
reference to the information contained in the Schedule 14D-1 and the exhibits
thereto. All cross references in this Schedule 13E-3, other than cross
references to the Schedule 14D-1, are to the Offer to Purchase (as supplemented)
included in the Schedule 14D-1.
Item 16. Additional Information
The information included in Item 10. of Amendment No. 3 to Schedule
14D-1 is incorporated herein by reference.
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SIGNATURE
After due inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement are true, complete and
correct.
Dated: September 22, 1998
INNOVATIVE COMMUNICATION CORPORATION
By: /s/ Jeffrey J. Prosser
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Name:Jeffrey J. Prosser
Title: President
INNOVATIVE COMMUNICATION COMPANY, LLC
By: /s/ Jeffrey J. Prosser
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Name:Jeffrey J. Prosser
Title: Sole Member
/s/ Jeffrey J. Prosser
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Jeffrey J. Prosser
EMERGING COMMUNICATIONS, INC.
By: /s/ Thomas Minnich
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Name: Thomas Minnich
Title: Chief Operating Officer
