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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 4)*
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 | | 3,378,943 |
| OWNED BY |--------|---------------------------------------------------|
| EACH | 7 | SOLE DISPOSITIVE POWER |
| REPORTING | | -0- |
| PERSON |--------|---------------------------------------------------|
| WITH | 8 | SHARED DISPOSITIVE POWER |
| | | 3,378,943 |
|------------------------------------------------------------------------------|
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON |
| | |
| | 3,378,943 |
|--------|---------------------------------------------------------------------|
| 10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN [ ] |
| | SHARES* |
| | |
|--------|---------------------------------------------------------------------|
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) |
| | 13.74% |
|--------|---------------------------------------------------------------------|
| 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 | | 3,378,943 |
| OWNED BY |--------|---------------------------------------------------|
| EACH | 7 | SOLE DISPOSITIVE POWER |
| REPORTING | | -0- |
| PERSON |--------|---------------------------------------------------|
| WITH | 8 | SHARED DISPOSITIVE POWER |
| | | 3,378,943 |
|------------------------------------------------------------------------------|
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON |
| | |
| | 3,378,943 |
|--------|---------------------------------------------------------------------|
| 10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN [ ] |
| | SHARES* |
| | |
|--------|---------------------------------------------------------------------|
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) |
| | 13.74% |
|--------|---------------------------------------------------------------------|
| 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 | | 3,378,943 |
| OWNED BY |--------|---------------------------------------------------|
| EACH | 7 | SOLE DISPOSITIVE POWER |
| REPORTING | | -0- |
| PERSON |--------|---------------------------------------------------|
| WITH | 8 | SHARED DISPOSITIVE POWER |
| | | 3,378,943 |
|------------------------------------------------------------------------------|
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON |
| | |
| | 3,378,943 |
|--------|---------------------------------------------------------------------|
| 10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN [ ] |
| | SHARES* |
| | |
|--------|---------------------------------------------------------------------|
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) |
| | 13.74% |
|--------|---------------------------------------------------------------------|
| 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 | | 3,378,943 |
| OWNED BY |--------|---------------------------------------------------|
| EACH | 7 | SOLE DISPOSITIVE POWER |
| REPORTING | | -0- |
| PERSON |--------|---------------------------------------------------|
| WITH | 8 | SHARED DISPOSITIVE POWER |
| | | 3,378,943 |
|------------------------------------------------------------------------------|
| 9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON |
| | |
| | 3,378,943 |
|--------|---------------------------------------------------------------------|
| 10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN [ ] |
| | SHARES* |
| | |
|--------|---------------------------------------------------------------------|
| 11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) |
| | 13.74% |
|--------|---------------------------------------------------------------------|
| 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 |
| --------- | | --- --- |
- - ------------------------- ---------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
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: 3,378,943 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 724,464 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, 1997.
(b) Percent of Class: 13.74% 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
724,464 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, 1997). The Reporting Persons believe
that approximately 21,803,566 shares of Class A Common Stock
were outstanding on December 31, 1997 and the percentage of
beneficial ownership has been computed utilizing such number
of shares and in accordance with the rules of the Securities
Exchange Commission.
(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: 3,378,943
shares of Class A Common Stock
Page 6 of 11 Pages
<PAGE>
- - ------------------------- ---------------------------
|CUSIP NO. 174150410 | 13G | Page 7 of 11 Pages |
| --------- | | --- --- |
- - ------------------------- ---------------------------
(iii) sole power to dispose or to direct the disposition:
-0-
(iv) shared power to dispose or to direct the disposition:
3,378,943 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 7 of 11 Pages
<PAGE>
- - ------------------------- ---------------------------
|CUSIP NO. 174150410 | 13G | Page 8 of 11 Pages |
| --------- | | --- --- |
- - ------------------------- ---------------------------
Statement I
<TABLE>
<CAPTION>
Name of Reporting Address Citizenship or Type of Reporting
Person place of Person
Organization
<S> <C> <C> <C>
Spectrum Equity 245 Lytton Avenue Delaware PN
Investors L.P. Suite 175
Palo Alto, CA 94301
Spectrum Equity 245 Lytton Avenue Delaware PN
Associates, L.P. Suite 175
Palo Alto, CA 94301
William P. Collatos One International Place USA IN
Boston, MA 02110
Brion B. Applegate 245 Lytton Avenue USA IN
Suite 175
Palo Alto, CA 94301
</TABLE>
Page 8 of 11 Pages
<PAGE>
- - ------------------------- ---------------------------
|CUSIP NO. 174150410 | 13G | Page 9 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 12, 1998 By: /s/ William P. Collatos
---------------------------------
William P. Collatos, General Partner
SPECTRUM EQUITY ASSOCIATES, L.P.
Date: February 12, 1998 By: /s/ William P. Collatos
---------------------------------
William P. Collatos, General Partner
Date: February 12, 1998 By: /s/ Brion B. Applegate
-----------------------------
Brion B. Applegate, General Partner
Date: February 12, 1998 /s/ William P. Collatos
--------------------------------
William P. Collatos
Date: February 12, 1998 /s/ Brion B. Applegate
---------------------------------
Brion B. Applegate
Page 9 of 11 Pages
<PAGE>
- - ------------------------- ---------------------------
|CUSIP NO. 174150410 | 13G | Page 10 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. 4 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. 4 to Schedule 13G is filed on behalf of the
undersigned.
SPECTRUM EQUITY INVESTORS, L.P.
By: Spectrum Equity Associates, L.P.
By: /s/ William P. Collatos
---------------------------------
William P. Collatos
General Partner
Dated: February 12, 1998
SPECTRUM EQUITY ASSOCIATES, L.P.
By: /s/ William P. Collatos
---------------------------------
William P. Collatos
General Partner
Dated: February 12, 1998
By: /s/ Brion B. Applegate
-----------------------------
Brion B. Applegate
General Partner
Dated: February 12, 1998
/s/ William P. Collatos
--------------------------------
William P. Collatos, Individually
Dated: February 12, 1998
/s/ Brion B. Applegate
---------------------------------
Brion B. Applegate, Individually
Dated: February 12, 1998
Page 10 of 11 Pages
<PAGE>
- - ------------------------- ---------------------------
|CUSIP NO. 174150410 | 13G | Page 11 of 11 Pages |
| --------- | | --- --- |
- - ------------------------- ---------------------------
<**************************NO COPY*********************************>
Page 11 of 11 Pages
