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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
________________
AMENDMENT NO. 4
TO
SCHEDULE 14D-1
Tender Offer Statement Pursuant to
Section 14(d)(1) of the Securities Exchange Act of 1934
and
SCHEDULE 13D/A
(AMENDMENT NO. 5)
Under the Securities Exchange Act of 1934
________________
EMERGING COMMUNICATIONS, INC.
(Name of Subject Company)
________________
INNOVATIVE COMMUNICATION CORPORATION
INNOVATIVE COMMUNICATION COMPANY, LLC
JEFFREY J. PROSSER
(Bidders)
________________
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
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Copy to:
Roger Meltzer, Esq.
Cahill Gordon & Reindel
80 Pine Street
New York, New York 10005
(212) 701-3000
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications on Behalf of Bidders)
________________
Calculation of Filing Fee
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Transaction Valuation* Amount of Filing Fee**
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$54,860,644.50 $10,973
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* 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 shares 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 of U.S. $10.25 per share.
** 1/50 of 1% of Transaction Valuation.
[ ] 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 date of its filing.
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<S> <C> <C>
Amount Previously Paid: $10,973 Filing Parties: Innovative Communication Corporation
Innovative Communication Company
Jeffrey J. Prosser
Form of Registration No.: Schedule 14D-1 Date Filed: August 24, 1998
</TABLE>
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CUSIP No. 29089K108 14D-1 and 13D
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1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
INNOVATIVE COMMUNICATION CORPORATION
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X]
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3. SEC USE ONLY
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4. SOURCES OF FUNDS OO
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS
IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION U.S. VIRGIN ISLANDS
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7. AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON 0 SHARES
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8. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (7)
EXCLUDES CERTAIN SHARES 0
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9. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (7) 0%
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10. TYPE OF REPORTING PERSON CO
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CUSIP No. 29089K108 14D-1 and 13D
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1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
INNOVATIVE COMMUNICATION COMPANY, LLC
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X]
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3. SEC USE ONLY
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4. SOURCES OF FUNDS N.A.
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS
IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION DELAWARE
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7. AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON 5,606,873 SHARES
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8. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (7)
EXCLUDES CERTAIN SHARES [ ]
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9. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (7) 51%
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10. TYPE OF REPORTING PERSON HC,OO (LIMITED LIABILITY
COMPANY)
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CUSIP No. 29089K108 14D-1 and 13D
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1. NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
JEFFREY J. PROSSER
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X]
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3. SEC USE ONLY
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4. SOURCES OF FUNDS N.A.
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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS
IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
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6. CITIZENSHIP OR PLACE OF ORGANIZATION U.S. VIRGIN ISLANDS
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7. AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON 5,730,864 SHARES
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8. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (7)
EXCLUDES CERTAIN SHARES [X]
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9. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (7) 52%
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10. TYPE OF REPORTING PERSON IN
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This Amendment No. 4 to Schedule 14D-1 and Schedule 13D/A (Amendment
No. 5) (the "Schedule 14D-1 and 13D") relates to the offer by 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 (the "Parent"), to purchase all the
outstanding shares of Common Stock, par value $0.01 per share (the "Shares"), of
Emerging Communications, Inc., a Delaware corporation (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 and First Supplement to the Offer
to Purchase dated September 10, 1998 (the "Offer to Purchase") and in the
related Letter of Transmittal (the "Letter of Transmittal", together with the
Offer to Purchase, the "Offer"), each of which have been previously filed as
exhibits this Schedule 14D-1 and 13D as Exhibits (a)(1), (a)(1)(A) and (a)(2),
respectively. This Schedule 14D-1 and Schedule 13D is being filed on behalf of
the Purchaser, the Parent and Jeffrey J. Prosser. The item numbers and responses
thereto below are in accordance with the requirements of Schedule 14D-1 and
Schedule 13D respectively of the Securities Exchange Act of 1934, as amended.
Capitalized terms used herein have the meanings given such terms in the Offer to
Purchase.
ITEM 10. Additional Information.
----------------------
On September 22, 1998, the Purchaser informed the Company that the
Purchaser's officials have had the opportunity to make sufficient
inspection of the damage caused by Hurricane Georges and that the
Purchaser has concluded that it will waive any Material Adverse Change
Condition (as defined in Amendment No. 3 to Schedule 14D-1 and Schedule
13D/A Amendment No. 4) relating to Hurricane Georges. The Offer will
expire at 5 p.m. New York City time on Friday, September 25, 1998.
While the RTFC Committment Letter is subject to the condition that no
material adverse change shall have occurred with regard to the Purchaser,
there is no indication that funding under the RTFC Credit Facility will
become unavailable due to the effect of Hurricane Georges.
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Item 11. Material to Be Filed as Exhibits.
(a)(1) - Offer to Purchase.
(a)(1)(A) - First Supplement to Offer to Purchase
(a)(2) - Letter of Transmittal (including Guidelines for
Certification Taxpayer Identification Number on Form
W-9).
(a)(3) - Letter to brokers, dealers, commercial banks,
trust companies and nominees.
(a)(4) - Letter to clients.
(a)(5) - Notice of Guaranteed Delivery.
(a)(6) - Press Release issued by the Company and the
Purchaser, dated August 18, 1998
(a)(7) - Form of newspaper advertisement, dated August 24,
1998.
(b)(1) - Commitment Letter of the RTFC.
(c)(1) - Agreement and Plan of Merger (the "Merger among the
Purchaser, ICC Merger Sub Agreement"), dated as
of August 17, 1998,Corporation and the Company.
(c)(2) - Non-Competition Agreement dated December 31, 1997
among the Company, ATN and Mr. Prosser.
(c)(3) - Indemnity Agreement dated December 31, 1997 among
the Company, ATN, Mr. Prosser and Mr. Prior.
(c)(4) - Tax Sharing Agreement dated December 31, 1997 among
the Company, ATN, Mr. Prosser and Mr. Prior.
(c)(5) - Employment Agreement dated December 31, 1997 between
Mr. Prosser and the Company.
(d) - Not applicable.
(e) - Not applicable.
(f) - Not applicable.
(g)(1) - Complaint, Brickell Partners v. Jeffrey J. Prosser,
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et al., C.A. No. 16415NC.
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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 is true, complete and
correct.
Dated: September 23, 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
