CITADEL INVESTMENT MANAGEMENT LP /ADV
SC 13D, 1996-10-07
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<PAGE>
 
                                          
                                               -------------------------------
                                               /         OMB APPROVAL        /
                   UNITED STATES               -------------------------------
        SECURITIES AND EXCHANGE COMMISSION     / OMB Number:       3235-0145 / 
               WASHINGTON, D.C. 20549          / Expires:  December 31, 1997 /
                                               / Estimated average burden    /
                                               / hours per response....14.90 /
                                               -------------------------------
                                 
                                 SCHEDULE 13D

                   Under the Securities Exchange Act of 1934
                             (Amendment No. ____)*



                          Omni Multimedia Group, Inc.
- --------------------------------------------------------------------------------
                               (Name of Issuer)


                                 Common Stock
- --------------------------------------------------------------------------------
                         (Title of Class of Securities)


                                   68211K107
- --------------------------------------------------------------------------------
                                (CUSIP Number)

                              Charles H. Winkler
                          Citadel Limited Partnership
                          225 West Washington Street
                                   Suite 900
                               Chicago, Il 60606
                                (312) 696-2102
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to Receive Notices and
                                Communications)

                              September 27, 1996
- --------------------------------------------------------------------------------
            (Date of Event which Requires Filing of this Statement)


If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box [_].

Check the following box if a fee is being paid with the statement [X]. (A fee is
not required only if the reporting 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
disclosures provided in a prior cover page.

The information required on 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 1 of 4 Pages


<PAGE>
 
                                 SCHEDULE 13D
- -----------------------                                  
  CUSIP NO. 68211K107                                    
- -----------------------                                  
 
- ------------------------------------------------------------------------------
  1   NAME OF REPORTING PERSON
      S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

                Citadel Limited Partnership
                FEIN NO.: 36-3754834    
- ------------------------------------------------------------------------------
  2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*                (a) [_]
                                                                       
                                                                       
- ------------------------------------------------------------------------------
  3   SEC USE ONLY
               
 
- ------------------------------------------------------------------------------
  4   SOURCE OF FUNDS*
      
                AE
- ------------------------------------------------------------------------------
  5   CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT 
      TO ITEMS 2(d) or 2(E)                                                [_]
      
- ------------------------------------------------------------------------------
  6   CITIZENSHIP OR PLACE OF ORGANIZATION
           
                U.S.
- ------------------------------------------------------------------------------
                     7    SOLE VOTING POWER

                                Reporting person has voting and dispositive 
     NUMBER OF                  power over shares of Series A Preferred Stock, 
                                which are convertible into 411,540 shares of
                                common stock.

      SHARES       -----------------------------------------------------------
                     8    SHARED VOTING POWER
   BENEFICIALLY           
                                -0-
     OWNED BY                    
                   -----------------------------------------------------------
       EACH          9    SOLE DISPOSITIVE POWER
                           
    REPORTING                   See item 7 above
                         
      PERSON       -----------------------------------------------------------
                    10    SHARED DISPOSITIVE POWER
       WITH                 
                                -0-
- ------------------------------------------------------------------------------
 11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
      
                See item 7 above
      
- ------------------------------------------------------------------------------
 12   CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
                    
                                                                           [_]
- ------------------------------------------------------------------------------
 13   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

                9.57% (Based on 3,890,000 shares of common stock issued and
                outstanding as of August 1, 1996, plus the common stock issuable
                upon the conversion of the securities referred to in item 7
                above.)
- -------------------------------------------------------------------------------
 14   TYPE OF REPORTING PERSON*
                PN
      
- ------------------------------------------------------------------------------

                     *SEE INSTRUCTIONS BEFORE FILLING OUT!
         INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
     (INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.



                                                               Page 2 of 4 Pages

<PAGE>
 
ITEM 1.   SECURITY AND ISSUER

          This Schedule 13D relates to 411,540 shares of common stock (the
"Securities") of Omni Multimedia Group, Inc. (the "Issuer") that are issuable
upon conversion of Series A Preferred Stock. The principal executive offices of
the Issuer are located at 50 Howe Avenue, Millbury, Massachusetts 01527.

ITEM 2.   IDENTITY AND BACKGROUND

          This Schedule 13D is being filed by Citadel Limited Partnership, an
Illinois limited partnership ("Citadel"). Citadel's principal business office is
located at 225 West Washington Street, 9th Floor, Chicago, Illinois 60606.

ITEM 3.   SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION

          Citadel is the trading manager for Olympus Securities, Ltd., a Bermuda
corporation ("Olympus") and is the managing general partner of Nelson Partners,
a Bermuda exempted general partnership ("Nelson"). The funds used for purchases
reported herein are from the accounts of Olympus and Nelson. Citadel has no
beneficial ownership interest in any of the funds or other property of Olympus
or Nelson, except for Citadel's interest as general partner of Nelson.

ITEM 4.   PURPOSE OF TRANSACTION

          The purchases reported herein were made as an investment. Citadel may,
in the future, recommend or make additional purchases or sales of the subject
Securities on behalf of Olympus or Nelson.

          Citadel has no present plans or proposals which would relate to or
result in transactions of the kind described in paragraphs (a) through (j) of
Item 4 of Rule 13D-101 of the Securities and Exchange Commission. However,
Citadel reserves the right to adopt such plans or proposals, subject to
applicable regulatory requirements, if any.

ITEM 5.   INTEREST IN SECURITIES OF THE ISSUER

          (a)  By reason of its serving as trading manager for Olympus and
               managing general partner of Nelson, Citadel may be deemed to be
               the indirect beneficial owner of the Securities, which represent
               a 9.57% interest in the common stock of the Issuer.

          (b)  Citadel has the sole power to vote and the sole power to dispose
               of the Securities on behalf of Olympus and Nelson.

          (c)  This filing is being made as a consequence of Citadel's
               deregistration as of September 27, 1996 as a registered
               investment advisor. Citadel, which changed its name from Citadel
               Investment Management, L.P. in connection with the
               deregistration, may have previously filed a Schedule 13G with
               respect to its investment in the Issuer under such former name.
               No transactions with respect to the Issuer's common stock have
               been effected during the 60-day period ending September 26, 1996.
               
          (d)  Citadel acquired the Securities as agent for Olympus and Nelson.
               Olympus and Nelson, as the direct beneficial and legal owners of
               the Securities, have the right to receive or the power to direct
               the receipt of dividends from, or the proceeds from the sale of
               the Securities. However, Citadel, as trading manager for Olympus
               and managing general partner of Nelson, ultimately has the right
               to direct such activities.

ITEM 6.   CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
          TO SECURITIES OF THE COMPANY.

          Olympus and Nelson own 50% and 50% of the Securities, respectively.
          Olympus and Nelson have the right to receive any dividends from and
          the proceeds from the sale of the Securities. As described in Item 3
          above, Citadel is the trading manager for Olympus and the managing
          general partner of Nelson. As a result, Citadel has the power to vote
          and dispose of the securities held by Olympus and Nelson.



ITEM 7.   MATERIAL TO BE FILED AS EXHIBITS

          No exhibits are required to be filed as part of this Schedule 13D.

                                                               Page 3 of 4 Pages
<PAGE>
 
                                      SIGNATURE

          After reasonable 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.

Date:  October 4, 1996    Citadel Limited Partnership

 
                          By:  GLB Partners, L.P.,
                          its general partner
                          
                          By:  Citadel Investment Group, L.L.C.,
                          its general partner
 
                          By:  /s/Kenneth C. Griffin,
                               ---------------------
                               its manager

                                                               Page 4 of 4 Pages


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