UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 2)*
PriCellular Corporation
(Name of Issuer)
Class A Common Stock, $.01 par value
(Title of Class of Securities)
174150410
(CUSIP Number)
Check the following box if a fee is being paid with this statement [ ]. (A
fee is not required only if the filing person: (1) has a previous statement on
file reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7).
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
<PAGE>
Cusip No.174150410 13G Page 2 of 10 Pages
- ------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Spectrum Equity Investors, L.P.
_______________________________________________________________________________
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [x]
(b) [ ]
_______________________________________________________________________________
3 SEC USE ONLY
_______________________________________________________________________________
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
_______________________________________________________________________________
5 SOLE VOTING POWER
NUMBER OF
- 0 -
SHARES _________________________________________________________
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 1,883,681
_________________________________________________________
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON - 0 -
_________________________________________________________
WITH 8 SHARED DISPOSITIVE POWER
1,883,681
_______________________________________________________________________________
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,883,681
_______________________________________________________________________________
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* []
_______________________________________________________________________________
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
15.17%
_______________________________________________________________________________
12 TYPE OF REPORTING PERSON*
PN
_______________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
Cusip No.174150410 13G Page 3 of 10 Pages
- ------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Spectrum Equity Associates, L.P.
______________________________________________________________________________
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [x]
(b) [ ]
______________________________________________________________________________
3 SEC USE ONLY
______________________________________________________________________________
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
______________________________________________________________________________
5 SOLE VOTING POWER
NUMBER OF
- 0 -
SHARES ________________________________________________________
ENEFICIALLY 6 SHARED VOTING POWER
OWNED BY
1,883,681
EACH ________________________________________________________
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON - 0 -
________________________________________________________
WITH
8 SHARED DISPOSITIVE POWER
1,883,681
_______________________________________________________________________________
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,883,681
_______________________________________________________________________________
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* []
_______________________________________________________________________________
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
15.17%
_______________________________________________________________________________
12 TYPE OF REPORTING PERSON*
PN
_______________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
Cusip No.174150410 13G Page 4 of 10 Pages
- ------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
William P. Collatos
______________________________________________________________________________
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [x]
(b) [ ]
______________________________________________________________________________
3 SEC USE ONLY
______________________________________________________________________________
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
______________________________________________________________________________
5 SOLE VOTING POWER
NUMBER OF
- 0 -
SHARES ________________________________________________________
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY
1,883,681
EACH ________________________________________________________
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON - 0 -
________________________________________________________
WITH
8 SHARED DISPOSITIVE POWER
1,883,681
_______________________________________________________________________________
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,883,681
_______________________________________________________________________________
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* []
_______________________________________________________________________________
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
15.17%
_______________________________________________________________________________
12 TYPE OF REPORTING PERSON*
IN
_______________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
Cusip No.174150410 13G Page 5 of 10 Pages
- ------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Brion B. Applegate
______________________________________________________________________________
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [x]
(b) [ ]
______________________________________________________________________________
3 SEC USE ONLY
______________________________________________________________________________
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
______________________________________________________________________________
5 SOLE VOTING POWER
NUMBER OF
- 0 -
SHARES _______________________________________________________
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY
1,883,681
EACH ________________________________________________________
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON - 0 -
________________________________________________________
WITH
8 SHARED DISPOSITIVE POWER
1,883,681
_______________________________________________________________________________
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,883,681
_______________________________________________________________________________
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* []
_______________________________________________________________________________
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
15.17%
_______________________________________________________________________________
12 TYPE OF REPORTING PERSON*
IN
_______________________________________________________________________________
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
Spectrum Equity Investors, L.P. Page 6 of 10
Schedule 13G
Item 1.
(a) Name of Issuer: PriCellular Corporation
(b) Address of Issuer's Principal Executive Offices: 45 Rockefeller
Plaza, New York, New York 10020
Item 2.
(a) Name of Person Filing: See Statement I attached
(b) Address of Principal Business Office or, if none, Residence: See
Statement I attached
(c) Citizenship: See Statement I attached
(d) Title of Class of Securities: Class A Common Stock, $.01 par
value
(e) CUSIP Number: 174150410
Item 3.
(a) Not Applicable
Item 4. Ownership
(a) Amount beneficially owned: 1,883,681 shares of Class A Common
Stock are beneficially owned by the Reporting Persons (of such
amount, 1,315,833 shares of Class A Common Stock are issuable
upon conversion of the Class B Common Stock beneficially owned by
the Reporting Persons and 376,813 shares of Class A Common Stock
are issuable upon conversion of the Series A Cumulative
Convertible Preferred Stock, $.01 par value (the "Series A
Preferred") held by the Reporting Persons). The number of shares
of Class A Common Stock issuable upon conversion of the Series A
Preferred assumes the occurrence of a voluntary conversion on
December 28, 1995, the date the Reporting Persons acquired
beneficial ownership of the shares of Series A Preferred.
(b) Percent of Class: 15.17% of Class A Common Stock (assumes
issuance of 1,315,833 shares of Class A Common Stock upon
conversion of the outstanding Class B Common Stock beneficially
owned by the Reporting Persons plus issuance of 376,813 shares of
Class A Common Stock upon conversion of the Series A Preferred
held by the Reporting Persons assuming further that the voluntary
conversion of Series A Preferred occurred on December 28, 1995).
The Reporting Persons believe that approximately 10,726,432
shares of Class A Common Stock were outstanding on December 31,
1995 and the percentage of ownership has been computed utilizing
such number of shares.
<PAGE>
Spectrum Equity Investors, L.P. Page 7 of 10
Schedule 13G
(c) Number of shares as to which Reporting Person has:
(i) sole power to vote or to direct the vote: -0-
(ii) shared power to vote or to direct the vote: 1,883,681 shares
of Class A Common Stock
(iii) sole power to dispose or to direct the disposition: -0-
(iv) shared power to dispose or to direct the disposition:
1,883,681 shares of Class A Common Stock
Item 5. Ownership of Five Percent or Less of a Class: Not
Applicable
Item 6. Ownership of More than Five Percent on Behalf of Another
Person:
The persons identified on Statement I attached hereto have the
right to receive or the power to direct the receipt of
dividends from the sale of securities owned of record by
Spectrum Equity Investors, L.P.
Item 7. Identification and Classification of the Subsidiary Which
Acquired the Security Being Reported on by the Parent
Holding Company:
Not Applicable
Item 8. Identification and Classification of Members of the
Group: See Statement I attached hereto for identification of
persons filing this Schedule as a group.
Item 9. Notice of Dissolution of Group: See Statement I attached
hereto for identification of persons filing this Schedule as
a group
Item 10. Certification: Not Applicable
<PAGE>
Spectrum Equity Investors, L.P. Page 8 of 10
Schedule 13G
Statement I
Name of Citizenship Type of
Reporting or place of Reporting
Person Address Organization Person
- ------ ------- ------------ ------
Spectrum Equity 125 High St. Delaware PN
Investors L.P. Boston, MA
02110
Spectrum Equity 125 High St. Delaware PN
Associates, L.P. Boston, MA
02110
William P. Collatos 125 High St. USA IN
Boston, MA
02110
Brion B. Applegate 300 Drakes USA IN
Landing
Suite 251
Greenbrae, CA
94904
<PAGE>
Spectrum Equity Investors, L.P. Page 9 of 10
Schedule 13G
After reasonable inquiry and to the best knowledge and belief of the
undersigned, the undersigned certifies that the information set forth in this
statement is true, complete and correct.
SPECTRUM EQUITY INVESTORS, L.P.
By: Spectrum Equity Associates,
L.P., its general partner
Date: March 7, 1996 By: /s/ William P. Collatos
------------------------
William P. Collatos, General Partner
Date: March 7, 1996 SPECTRUM EQUITY ASSOCIATES, L.P.
Date: March 7, 1996 By: /s/ William P. Collatos
------------------------
William P. Collatos, General Partner
Date: March 7, 1996 By: /s/Brion B. Applegate
----------------------
Brion B. Applegate, General Partner
Date: March 7, 1996 By: /s/ William P. Collatos
------------------------
William P. Collatos
Date: March 7, 1996 By: /s/Brion B. Applegate
----------------------
Brion B. Applegate
<PAGE>
Page 10 of 10
JOINT FILING AGREEMENT
Pursuant to Rule 13d-1(f) promulgated under the Securities Exchange Act
of 1934, as amended, each of the undersigned hereby respectively represents that
the undersigned is eligible to use Schedule 13G as amended by Amendment No. 1
being filed herewith, to report the undersigned's beneficial ownership of Class
A Common Stock of PriCellular Corporation. Additionally, each of the undersigned
acknowledges that this Amendment No. 2 to Schedule 13G is filed on behalf of
each of the undersigned.
SPECTRUM EQUITY INVESTORS, L.P.
By: Spectrum Equity Associates, L.P.
By/s/ William P. Collatos
William P. Collatos
General Partner
Date: March 7, 1996
SPECTRUM EQUITY ASSOCIATES, L.P.
By/s/ William P. Collatos
William P. Collatos
General Partner
Date: March _7, 1996
By/s/ Brion B. Applegate
Brion B. Applegate
General Partner
Date: March 7, 1996
/s/ William P. Collatos
William P. Collatos, individually
Date: March 7, 1996
/s/ Brion B. Applegate
Brion B. Applegate, individually
Date: March 7, 1996
