UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
SHARED TECHNOLOGIES CELLULAR, INC.
(Name of Issuer)
Common Stock, $.01 par value
(Title of Class of Securities)
819487109
(CUSIP Number)
Nicholas E. Sinacori
International Capital Partners, Inc.
300 First Stamford Place
Stamford, Connecticut 06902
(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
October 1, 1999
(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
[ ]
Page 1 of 9 Pages
<PAGE>
- --------------------------------------------------------------------------------
CUSIP No. 819487109 Page 2 of 9 Pages
- ------------ -------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
International Capital Partners, Inc.
- ------------ -------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
- ------------ -------------------------------------------------------------------
3 SEC USE ONLY
- ------------ -------------------------------------------------------------------
4 SOURCE OF FUNDS*
00
- ------------ -------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
- ------------ -------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Connecticut
- ------------------------- -------- ---------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 739,667
-------- ---------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 0
-------- ---------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 739,667
-------- ---------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
0
- ------------ -------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
739,667
- ------------ -------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
- ------------ -------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
9.0%
- ------------ -------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO, IV
- ------------ -------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
- --------------------------------------------------------------------------------
CUSIP No. 819487109 Page 3 of 9 Pages
- ------------ -------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
International Capital Partners Profit Sharing Trust
- ------------ -------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
- ------------ -------------------------------------------------------------------
3 SEC USE ONLY
- ------------ -------------------------------------------------------------------
4 SOURCE OF FUNDS*
00
- ------------ -------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
- ------------ -------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Connecticut
- ------------------------- -------- ---------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 82,112
-------- ---------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 0
-------- ---------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 82,112
-------- ---------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
0
- ------------ -------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
82,112
- ------------ -------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
- ------------ -------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.9%
- ------------ -------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
EP
- ------------ -------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
- --------------------------------------------------------------------------------
CUSIP No. 819487109 Page 4 of 9 Pages
- ------------ -------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
International Capital Partners, LLC
- ------------ -------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
- ------------ -------------------------------------------------------------------
3 SEC USE ONLY
- ------------ -------------------------------------------------------------------
4 SOURCE OF FUNDS*
00
- ------------ -------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
- ------------ -------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Connecticut
- ------------------------- -------- ---------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 120,000
-------- ---------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 0
-------- ---------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 120,000
-------- ---------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
0
- ------------ -------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
120,000
- ------------ -------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
- ------------ -------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.4%
- ------------ -------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO
- ------------ -------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
- --------------------------------------------------------------------------------
CUSIP No. 819487109 Page 5 of 9 Pages
- ------------ -------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Ajit J. Hutheesing
- ------------ -------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X]
(b) [ ]
- ------------ -------------------------------------------------------------------
3 SEC USE ONLY
- ------------ -------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF
- ------------ -------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
- ------------ -------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Connecticut
- ------------------------- -------- ---------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 10,000
-------- ---------------------------------------------
SHARES 8 SHARED VOTING POWER
BENEFICIALLY
OWNED BY 0
-------- ---------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 10,000
-------- ---------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER
0
- ------------ -------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
10,000
- ------------ -------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
- ------------ -------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.1%
- ------------ -------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- ------------ -------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
Introduction
------------
This Schedule is being filed in order to report the acquisition of a
warrant (the "Warrant") to purchase 120,000 shares of common stock, $.01 par
value (the "Common Stock"), of Shared Technologies Cellular, Inc. (the "Issuer")
by International Capital Partners, LLC, a Connecticut limited liability company
("ICP, LLC"). ICP, LLC is a member of a group (the "ICP Group") consisting of
International Capital Partners, Inc., a Connecticut corporation ("ICP, Inc."),
ICP, LLC, International Capital Partners Profit Sharing Trust ("ICP Trust") and
Ajit J. Hutheesing, the Chairman and Chief Executive Officer of ICP, Inc. and a
director of the Issuer. The Warrant was issued to ICP, LLC on October 1, 1999 as
consideration for placement services rendered by ICP, LLC in connection with a
private placement of securities effected by the Issuer. Prior to issuance of the
Warrant, the ICP Group beneficially owned 831,779 shares of Common Stock (or
securities convertible or exercisable therefor). Upon issuance of the Warrant,
the ICP Group became the beneficial owner of an aggregate 951,779 shares of the
Issuer's Common Stock (or securities convertible or exercisable therefor), an
amount equal to 11.5% of the outstanding shares of the Issuer's Common Stock.
ITEM 1. SECURITY AND ISSUER
The class of equity securities to which this Schedule relates is the
Issuer's Common Stock, $.01 par value. The Issuer is Shared Technologies
Cellular, Inc. and its principal executive offices are located at 100 Great
Meadow Road, Suite 102, Wethersfield, Connecticut 06109.
ITEM 2. IDENTITY AND BACKGROUND
This Schedule is being filed on behalf of the ICP Group. Each member of
the ICP Group has a principal executive office located at 300 First Stamford
Place, Stamford, Connecticut 06902.
During the past five years, no member of the ICP Group has (i) been
convicted in a criminal proceeding (excluding traffic violations and similar
misdemeanors), or (ii) been a party to a civil proceeding of a judicial or
administrative body of competent jurisdiction and as a result of such proceeding
was or is subject to a judgment, decree or final order enjoining future
violations of, or prohibiting or mandating activities subject to, Federal or
State securities laws or finding any violations with respect to such laws.
<PAGE>
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
The Warrant was issued to ICP, LLC as consideration for placement
services rendered by ICP, LLC in connection with a private placement of
securities effected by the Issuer.
ITEM 4. PURPOSE OF TRANSACTION
No member of the ICP Group has a plan or proposal which would result in
any of the consequences listed in paragraphs (a) - (j) of Item 4 of Schedule
13D.
<PAGE>
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
(a) and (b) Set forth in the table below are the number and percentage
of shares of Common Stock of the Issuer beneficially owned by each member of the
ICP Group as of the date hereof:
<TABLE>
<CAPTION>
Number of Shares Number of Shares
Beneficially Owned With Beneficially Owned With Aggregate Number
Sole Voting and Shared Voting and of Shares Percentage of Shares
Name Dispositive Power Dispositive Power Beneficially Owned Beneficially Owned
- ---- ----------------------- ----------------------- ------------------ ------------------
<S> <C> <C> <C> <C>
ICP, Inc. 739,667 0 739,667(1) 9.0%
ICP, Trust 82,112 0 82,112(2) 0.9%
ICP, LLC 120,000 0 120,000(3) 1.4%
Ajit J. Hutheesing 10,000 0 10,000 0.1%
</TABLE>
- -----------------------
(1) Includes options and/or warrants currently exercisable for an aggregate
608,000 shares of Common Stock.
(2) Includes warrants, Series C Convertible Preferred Stock and a
convertible promissory note currently exercisable for an aggregate
82,112 shares of Common Stock.
(3) Includes the Warrant which is currently exercisable for 120,000 shares
of Common Stock.
(c) The issuance of the Warrant is the only transaction which has been
effected within the last 60 days.
(d) None.
(e) Not Applicable.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
TO SECURITIES OF THE ISSUER
None.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
None
<PAGE>
SIGNATURES
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.
Dated: December 1, 1999
By: /s/ Nicholas E. Sinacori
------------------------
Name: Nicholas E. Sinacori
Title: Managing Partner
