SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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SCHEDULE 14D-1
Tender Offer Statement Pursuant to Section 14(d)(1)
of the Securities Exchange Act of 1934
(Amendment No. 1)
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INDEPENDENCE TAX CREDIT PLUS L.P. III
(Name of Subject Company)
LEHIGH TAX CREDIT PARTNERS III L.L.C.
LEHIGH TAX CREDIT PARTNERS, INC.
(Bidders)
BENEFICIAL ASSIGNMENT CERTIFICATES
(Title of Class of Securities)
45378D 10 0
(CUSIP Number of Class of Securities)
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J. Michael Fried
c/o Related Capital Company
625 Madison Avenue
New York, NY 10022
(212) 421-5333
Copy to:
Peter M. Fass
Mark Schonberger
Battle Fowler LLP
75 East 55th Street
New York, NY 10022
(212) 856-7000
(Name, Address and Telephone Numbers of Person Authorized
to Receive Notices and Communications on Behalf of Bidder)
Calculation of Filing Fee
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<TABLE>
<CAPTION>
Transaction Amount of filing fee
valuation*
<S> <C>
$8,145,000 $1629.00
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</TABLE>
* For purposes of calculating the filing fee only. This amount assumes the
purchase of 10,860 Beneficial Assignment Certificates (representing assignments
of limited partnership interests) ("BACs") of the subject company for $750 per
BAC in cash.
[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 date of its filing.
<TABLE>
<S> <C>
Amount Previously Paid: $1629.00
Form or Registration No.: Schedule 14D-1
Filing Party: Lehigh Tax Credit Partners III L.L.C.
Date Filed: October 9, 1998
</TABLE>
(Continued on following pages)
(Page 1 of 6 pages)
<PAGE>
CUSIP No.: 45378D 10 0 14D-1 Page 2 of 6
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1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
LEHIGH TAX CREDIT PARTNERS III L.L.C.
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2. Check the Appropriate Box if a Member of a Group
(See Instructions)
(a) [X]
(b) [ ]
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3. SEC Use Only
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4. Sources of Funds (See Instructions)
BK, WC
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5. Check Box if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(e) or 2(f)
[ ]
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6. Citizenship or Place of Organization
Delaware
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7. Aggregate Amount Beneficially Owned by Each Reporting Person
57 Beneficial Assignment Certificates (representing assignments of limited
partnership interests)
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8. Check Box if the Aggregate Amount in Row (7) Excludes Certain Shares
(See Instructions)
[ ]
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9. Percent of Class Represented by Amount in Row (7)
Less than 1%
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10. Type of Reporting Person (See Instructions)
O0
<PAGE>
CUSIP No.: 45378D 10 0 14D-1 Page 3 of 6
- --------------------------------------------------------------------------------
1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
LEHIGH TAX CREDIT PARTNERS, INC.
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2. Check the Appropriate Box if a Member of a Group
(See Instructions)
(a) [X]
(b) [ ]
- --------------------------------------------------------------------------------
3. SEC Use Only
- --------------------------------------------------------------------------------
4. Sources of Funds (See Instructions)
AF
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5. Check Box if Disclosure of Legal Proceedings is Required Pursuant to
Items 2(e) or 2(f)
[ ]
- --------------------------------------------------------------------------------
6. Citizenship or Place of Organization
Delaware
- --------------------------------------------------------------------------------
7. Aggregate Amount Beneficially Owned by Each Reporting Person
57 Beneficial Assignment Certificates (representing assignments of limited
partnership interests)
- --------------------------------------------------------------------------------
8. Check Box if the Aggregate Amount in Row (7) Excludes Certain Shares
(See Instructions)
[ ]
- --------------------------------------------------------------------------------
9. Percent of Class Represented by Amount in Row (7)
Less than 1%
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10. Type of Reporting Person (See Instructions)
CO
<PAGE>
AMENDMENT NO. 1 TO SCHEDULE 14D-1
This Amendment No. 1 amends the Tender Offer Statement on Schedule
14D-1 (the "Schedule 14D-1") and the Offer to Purchase filed with the 14D-1 as
Exhibit (a)(1) thereto (the "Offer to Purchase") filed with the Securities and
Exchange Commission on October 9, 1998 by Lehigh Tax Credit Partners III L.L.C.,
a Delaware limited liability company (the "Purchaser"), relating to the tender
offer by the Purchaser to purchase up to 10,860 issued and outstanding
Beneficial Assignment Certificates ("BACs") representing assignments of limited
partnership interests ("Limited Partnership Interests") in Independence Tax
Credit Plus L.P. III, a Delaware limited partnership (the "Partnership"), to
include the information set forth below. Terms not otherwise defined herein
shall have the meanings ascribed to them in the Schedule 14D-1 and the Offer to
Purchase.
Item 10. Additional Information
Item 10(f) is hereby supplemented and amended as follows:
The information set forth in the letter to BACs holders and the press
release dated November 9, 1998, copies of which are attached hereto as Exhibits
(a)(5) and (a)(6), respectively, is incorporated herein in its entirety by
reference and amends certain terms and conditions in the Offer to Purchase.
Item 11. Material to be Filed as Exhibits
Item 11 is hereby supplemented and amended by adding the following,
copies of which are attached hereto as exhibits:
(a)(5) Letter, dated November 9, 1998 from Lehigh Tax Credit
Partners III L.L.C. to the holders of BACs.
(a)(6) Press Release dated November 9, 1998.
4
<PAGE>
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: November 9, 1998
LEHIGH TAX CREDIT PARTNERS III L.L.C.
By: Lehigh Tax Credit Partners, Inc., its managing
member
By: /s/ Alan P. Hirmes
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Name: Alan P. Hirmes
Title: Vice President
LEHIGH TAX CREDIT PARTNERS, INC.
By: /s/ Alan P. Hirmes
----------------------------------
Name: Alan P. Hirmes
Title: Vice President
5
<PAGE>
EXHIBIT INDEX
<TABLE>
<CAPTION>
EXHIBIT
NO. TITLE
- ------- -----
<S> <C>
(a)(5) Letter, dated November 9, 1998, from Lehigh Tax Credit Partners III L.L.C.
to the holders of BACs.
(a)(6) Press Release dated November 9, 1998
</TABLE>
6
Exhibit (a)(5)
LEHIGH TAX CREDIT PARTNERS III L.L.C.
625 Madison Avenue
New York, New York 10022
November 9, 1998
OFFER TO PURCHASE EXTENDED TO MONDAY, DECEMBER 7, 1998
AT
$750 PER BAC
To BACs holders in Independence Tax Credit Plus L.P. III:
Lehigh Tax Credit Partners III L.L.C., a Delaware limited liability
company (the "Purchaser"), has extended its offer to purchase up to 10,860 of
the outstanding Beneficial Assignment Certificates ("BACs") representing
assignments of limited partnership interests of Independence Tax Credit Plus
L.P. III (the "Partnership") for a cash purchase price of $750 per BAC, net to
the seller in cash, upon the terms and subject to the conditions in the Offer to
Purchase, dated October 9, 1998, and the related Letter of Transmittal (which
together constitute the "Offer"). UNLESS EXTENDED BY THE PURCHASER, THE OFFER
WILL EXPIRE AT MIDNIGHT, NEW YORK CITY TIME, ON DECEMBER 7, 1998. Except as
described herein, all other terms and conditions of the Offer remain unchanged.
If you have already tendered your BACs pursuant to the Offer, we
appreciate your participation and no further action is required.
If you have not already tendered and wish to do so now, please complete
the enclosed Letter of Transmittal and forward it to the Purchaser in the
business reply envelope provided.
This letter shall be deemed to amend the Offer to Purchase. Should you
have any questions, please contact Denise Bernstein at 1-800-600-6422 (ext.
2030).
LEHIGH TAX CREDIT PARTNERS III L.L.C.
FOR IMMEDIATE RELEASE
Contact: Denise Bernstein
Lehigh Tax Credit Partners III L.L.C.
1-800-600-6422 (ext. 2030)
LEHIGH TAX CREDIT PARTNERS EXTENDS OFFER
NEW YORK, NEW YORK (November 9, 1998) -- LEHIGH TAX CREDIT PARTNERS III
L.L.C. (the "Purchaser") has announced that its offer to purchase Beneficial
Assignment Certificates ("BACs") of Independence Tax Credit Plus L.P. III (the
"Partnership") for $750 per BAC has been extended and is now scheduled to expire
at 12:00 midnight, New York City time, on December 7, 1998. As of the close of
business on November 9, 1998, 2,188.14 BACs had been tendered to the Purchaser
and not withdrawn.
For additional information, contact Denise Bernstein at 1-800-600-6422.
