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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935
or Section 30(f) of the Investment Company Act of 1940
/X/ Check this box if no longer subject to Section 16. Form 4 or Form 5
obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person
Marshall Donald R.A.
(Last) (First) (Middle)
927 Mohawk Road
(Street)
Franklin Lakes New Jersey 07417
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
Maxcor Financial Group Inc. (formerly Financial Services Acquisition
Corporation) (Common Stock: "MAXF")
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
11/97
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
/ / Director /X/ 10% Owner
/ / Officer (give title below) / / Other (specify below)
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7. Individual or Joint/Group Filing (Check applicable line)
/X/ Form filed by One Reporting Person
/ / Form filed by More than One Reporting Person
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Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
5. Amount
of Secu-
rities
4. Securities Acquired (A) Bene- 6. Ownership
2. Trans- 3. Trans- or Disposed of (D) ficially Form:
action action (Instr. 3, 4 and 5) Owned at Direct 7. Nature of
Date Code ----------------------------- End of (D) or Indirect
(Month/ (Instr. 8) (A) Month Indirect Beneficial
1. Title of Security Day/ ------------- Amount or Price (Instr. (I) Ownership
(Instr. 3) Year) Code V (D) 3 and 4) (Instr. 4) (Instr. 4)
- ----------------------------- ---------- ------ ----- ------------ --- ---------- ----------- ------------- ---------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
a. Common Stock, par value 11/17/97 J 149,301 A (1) 682,616 D
$.001
b.
c.
d.
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<TABLE>
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Table II--Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
2. Conver- 5. Number of Deriv- 6. Date Exercisable
sion or 3. Trans- ative Securities and Expiration Date
Exercise action 4. Transac- Acquired (A) or (Month/Day/Year)
Price of Date tion Code Disposed of (D) ----------------------
Deriv- (Month/ (Instr. 8) (Instr. 3, 4, and 5) Date
1. Title of Derivative ative Day/ ------------- -------------------------- Exercis- Expiration
Security (Instr. 3) Security Year) Code V (A) (D) able Date
- ------------------------------ ----------- ---------- ------ ----- ------------ ------------ ---------- ----------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
a. Series B Redeemable $5.00 11/17/97 J 895,632 Immediate 11/30/01
Common Stock Purchase
Warrants
b.
c.
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9. Number of
Derivative 10. Ownership
Securities Form of
7. Title and Amount of Underlying Benefi- Derivative
Securities (Instr. 3 and 4) cially Security: 11. Nature of
---------------------------------------- 8. Price of Owned at Direct Indirect
Amount or Derivative End of (D) or Beneficial
1. Title of Derivative Title Number of Security Month Indirect Ownership
Security (Instr. 3) Shares (Instr. 5) (Instr. 4) (I) (Instr. 4)
- --------------------------- --------------------------- ----------- ------------- ------------- -------------- ---------------
<S> <C> <C> <C> <C> <C> <C>
a. Series B Redeemable Common Stock, 895,632 (1) 0 D
Common Stock Purchase par value $.001
Warrants
b.
c.
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Explanation of Responses:
(1) On October 16, 1997, the Issuer commenced an exchange offer (the "Offer")
pursuant to which it offered to exchange 0.1667 of a share of its Common
Stock for each and every of its outstanding Redeemable Common Stock
Purchase Warrants (regardless of whether Series A or Series B), with cash
paid in lieu of issuing fractional shares. The Issuer consummated the
Offer on November 17, 1997. Pursuant to the Offer, the Reporting Person
tendered all 895,632 Warrants held by him and received in exchange
therefor 149,301 shares of Common Stock.
/s/ Donald R.A. Marshall December 10, 1997
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**Signature of Reporting Person Date
** Intentional misstatements or omissions of facts constitute Federal Criminal
Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note. File three copies of this form, one of which must be manually signed.
If space provided is insufficient, see Instruction 6 for procedure.
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