-------------------------------
OMB APPROVAL
-------------------------------
OMB Number: 3235-0145
Expires: December 31, 1997
Estimated average burden
hours per response . . . 14.90
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 3)*
PriCellular Corporation
(Name of Issuer)
Class A Common Stock, $.01 par value
(Title of Class of Securities)
174150410
(CUSIP Number)
*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 11 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
-0-
NUMBER OF
------------------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 2,986,714
------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON -0-
------------------------------------------------------------
WITH 8 SHARED DISPOSITIVE POWER
2,986,714
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,986,714
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
15.73%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON *
PN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 2 of 11 Pages
<PAGE>
- ------------------- -------------------------
CUSIP No. 174150410 13G Page 3 of 11 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
-0-
NUMBER OF
------------------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 2,986,714
------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON -0-
------------------------------------------------------------
WITH 8 SHARED DISPOSITIVE POWER
2,986,714
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,986,714
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
15.73%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON *
PN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 3 of 11 Pages
<PAGE>
- ------------------- -------------------------
CUSIP No. 174150410 13G Page 4 of 11 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
-0-
NUMBER OF
------------------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 2,986,714
------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON -0-
WITH
------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
2,986,714
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,986,714
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
15.73%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON *
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 4 of 11 Pages
<PAGE>
- ------------------- -------------------------
CUSIP No. 174150410 13G Page 5 of 11 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
-0-
NUMBER OF
------------------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 2,986,714
------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON -0-
------------------------------------------------------------
WITH 8 SHARED DISPOSITIVE POWER
2,986,714
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,986,714
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
15.73%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON *
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 5 of 11 Pages
<PAGE>
- ------------------- -------------------------
CUSIP No. 174150410 13G Page 6 of 11 Pages
- ------------------- -------------------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Kevin J. Maroni
- --------------------------------------------------------------------------------
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
-0-
NUMBER OF
------------------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 2,986,714
------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON -0-
------------------------------------------------------------
WITH 8 SHARED DISPOSITIVE POWER
2,986,714
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,986,714
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ]
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
15.73%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON *
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 6 of 11 Pages
<PAGE>
- ------------------- -------------------------
CUSIP No. 174150410 13G Page 7 of 11 Pages
- ------------------- -------------------------
Item 1.
(a) Name of Issuer: PriCellular Corporation
(b) Address of Issuer's Principal Executive Officers: 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: 2,986,714 shares of Class A Common Stock
are beneficially owned by the Reporting Persons (of such amount,
2,055,988 shares of Class A Common Stock are issuable upon
conversion of the Class B Common Stock beneficially owned by the
Reporting Persons and 662,235 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 31, 1996.
(b) Percent of Class: 15.73% of Class A Common Stock (assumes issuance
of 2,055,988 shares of Class A Common Stock upon conversion of the
outstanding Class B Common Stock beneficially owned by the
Reporting Persons plus issuance of 632,235 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 31,
1996). The Reporting Persons believe that approximately
18,989,201 shares of Class A Common Stock were outstanding on
December 31, 1996 and the percentage of ownership has been
computed utilizing such number of shares.
(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: 2,986,714
shares of Class A Common Stock
(iii) sole power to dispose or to direct the disposition: -0-
Page 7 of 11 Pages
<PAGE>
- ------------------- -------------------------
CUSIP No. 174150410 13G Page 8 of 11 Pages
- ------------------- -------------------------
(iv) shared power to dispose or to direct the disposition:
2,986,714 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:
Not Applicable
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 8 of 11 Pages
<PAGE>
- ------------------- -------------------------
CUSIP No. 174150410 13G Page 9 of 11 Pages
- ------------------- -------------------------
Statement I
Name of Address Citizenship or Type of
Reporting Person place of Reporting Person
Organization
Spectrum Equity 125 High Street Delaware PN
Investors L.P. Boston, MA 02110
Spectrum Equity 125 High Street Delaware PN
Associates, L.P. Boston, MA 02110
William P. 125 High Street USA IN
Collatos Boston, MA 02110
Brion B. 300 Drakes Landing USA IN
Applegate Suite 251
Greenbrae, CA 94904
Kevin J. Maroni 125 High Street USA IN
Boston, MA 02110
Page 9 of 11 Pages
<PAGE>
- ------------------- -------------------------
CUSIP No. 174150410 13G Page 10 of 11 Pages
- ------------------- -------------------------
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: February 7, 1997 By: /s/ William P. Collatos
---------------------------------
William P. Collatos, General Partner
SPECTRUM EQUITY ASSOCIATES, L.P.
Date: February 7, 1997 By: /s/ William P. Collatos
---------------------------------
William P. Collatos, General Partner
Date: February 7, 1997 By: /s/ Brion B. Applegate
-----------------------------
Brion B. Applegate, General Partner
Date: February 7, 1997 By: /s/ Kevin J. Maroni
---------------------------------
Kevin J. Maroni, General Partner
Date: February 7, 1997 /s/ William P. Collatos
--------------------------------
William P. Collatos
Date: February 7, 1997 /s/ Brion B. Applegate
---------------------------------
Brion B. Applegate
Date: February 7, 1997 /s/ Kevin J. Maroni
---------------------------------
Kevin J. Maroni
Page 10 of 11 Pages
<PAGE>
- ------------------- -------------------------
CUSIP No. 174150410 13G Page 11 of 11 Pages
- ------------------- -------------------------
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. 3
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. 3 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: February 7, 1997
SPECTRUM EQUITY INVESTORS, L.P.
By: /s/ William P. Collatos
William P. Collatos
General Partner
Date: February 7, 1997
By: /s/ Brion B. Applegate
Brion B. Applegate
General Partner
Date: February 7, 1997
By: /s/ Kevin J. Maroni
Kevin J. Maroni
General Partner
Date: February 7, 1997
/s/ William P. Collatos
William P. Collatos, Individually
Date: February 7, 1997
/s/ Brion B. Applegate
Brion B. Applegate, Individually
Date: February 7, 1997
/s/ Kevin J. Maroni
Kevin J. Maroni, Individually
Date: February 7, 1997
Page 11 of 11 Pages
