UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 3)*
Marvel Enterprises, Inc.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock
- --------------------------------------------------------------------------------
(Title of Class of Securities)
57383M-10-8
- --------------------------------------------------------------------------------
(CUSIP Number)
John N. Turitzin
Battle Fowler LLP
75 East 55th Street
New York, New York 10022
(212) 856-6873
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to Receive
Notices and Communications)
November 2, 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 / /.
Note: Six copies of this statement, including all exhibits, should be filed with
the Commission. See Rule 13d-1(a) for other parties to whom copies are to be
sent.
* 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.
888926.1
<PAGE>
- -----------------------
CUSIP No. 57383M-10-8 SCHEDULE 13D
- -----------------------
- -------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Biobright Corporation
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X/
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e)
/ /
- -------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- -------------------------------------------------------------------------------
NUMBER OF SHARES BENEFICIALLY
OWNED BY EACH REPORTING
PERSON WITH 7 SOLE VOTING POWER
None
-----------------------------------------------
8 SHARED VOTING POWER
30,898,523 (See Item 5)
-----------------------------------------------
9 SOLE DISPOSITIVE POWER
259,750
-----------------------------------------------
10 SHARED DISPOSITIVE POWER
None
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
30,898,523 (See Item 5)
- -------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
- -------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
58.8%
- -------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- -------------------------------------------------------------------------------
*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.
888926.1
<PAGE>
- -----------------------
CUSIP No. 57383M-10-8 SCHEDULE 13D
- -----------------------
- -------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Classic Heroes, Inc.
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X/
(b) / /
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e)
/ /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- -------------------------------------------------------------------------------
NUMBER OF SHARES BENEFICIALLY
OWNED BY EACH REPORTING
PERSON WITH 7 SOLE VOTING POWER
None
-----------------------------------------------
8 SHARED VOTING POWER
30,898,523 (See Item 5)
-----------------------------------------------
9 SOLE DISPOSITIVE POWER
259,750
-----------------------------------------------
10 SHARED DISPOSITIVE POWER
None
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
30,898,523 (See Item 5)
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
58.8%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
*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.
888926.1
<PAGE>
- -------------------------
CUSIP No. 57383M-10-8 SCHEDULE 13D
- -------------------------
- -------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Isaac Perlmutter T.A.
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X/
(b) / /
- -------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO
- -------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e)
/ /
- -------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Florida
- -------------------------------------------------------------------------------
NUMBER OF SHARES BENEFICIALLY
OWNED BY EACH REPORTING
PERSON WITH 7 SOLE VOTING POWER
None
-----------------------------------------------
8 SHARED VOTING POWER
30,898,523 (See Item 5)
-----------------------------------------------
9 SOLE DISPOSITIVE POWER
9,582,977
-----------------------------------------------
10 SHARED DISPOSITIVE POWER
None
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
30,898,523 (See Item 5)
- -------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
- -------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
58.8%
- -------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO
- -------------------------------------------------------------------------------
*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.
888926.1
<PAGE>
- -------------------------
CUSIP No. 57383M-10-8 SCHEDULE 13D
- -------------------------
- -------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Isaac Perlmutter
- -------------------------------------------------------------------------------
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
U.S.A.
- -------------------------------------------------------------------------------
NUMBER OF SHARES BENEFICIALLY
OWNED BY EACH REPORTING
PERSON WITH 7 SOLE VOTING POWER
None
-----------------------------------------------
8 SHARED VOTING POWER
30,898,523 (See Item 5)
-----------------------------------------------
9 SOLE DISPOSITIVE POWER
14,324,202
-----------------------------------------------
10 SHARED DISPOSITIVE POWER
None
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
30,898,523 (See Item 5)
- -------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
- -------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
58.8%
- -------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- -------------------------------------------------------------------------------
*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.
888926.1
<PAGE>
- ------------------------
CUSIP No. 57383M-10-8 SCHEDULE 13D
- ------------------------
This Amendment No. 3 to Schedule 13D amends and supplements the
original Schedule 13D and Amendments No. 1 and No. 2 thereto, dated October 13,
1998, October 20, 1998 and December 21, 1998, respectively, which were filed
with the Securities and Exchange Commission (the "Commission") on October 13,
1998, October 21, 1998 and December 22, 1998, respectively, on behalf of (1) Zib
Inc., a Delaware corporation, (2) the Isaac Perlmutter T.A., a Florida trust,
(3) Object Trading Corp., a Delaware corporation, (4) the Laura & Isaac
Perlmutter Foundation Inc., a Florida not-for-profit corporation, and (5) Isaac
Perlmutter with respect to the ownership of Common Stock of Marvel Enterprises,
Inc. (the "Company"). Each capitalized term not defined in this amendment has
the same meaning here as in the original 13D.
Item 2. Identity and Background.
Item 2 is hereby amended and supplemented by adding the following:
This Statement is also filed by Biobright Corporation ("Biobright"),
a Delaware corporation whose sole stockholder is Mr. Perlmutter, and Classic
Heroes, Inc. ("Classic Heroes"), a Delaware corporation whose sole stockholder
is Mr. Perlmutter. The previously defined term "Reporting Persons" shall
hereinafter include Biobright and Classic Heroes. The business address and the
principal executive office of Biobright is P.O. Box 1028, Lake Worth, Florida
33460. Biobright's principal business is the manufacturing and distribution of
toothbrushes. The business address and the principal executive office of Classic
Heroes is 685 Third Avenue, New York, New York 10017. Classic Heroes' principal
business is the manufacture and distribution of apparel.
Item 3. Source and Amount of Funds or Other Consideration.
Item 3 is hereby amended and supplemented by adding the following:
The Trust, Biobright and Classic Heroes obtained the funds to make
their respective purchases on November 2, 1999 from capital contributions by Mr.
Perlmutter. Mr. Perlmutter's personal funds were used to make those capital
contributions.
Item 5. Interest in Securities of the Issuer.
Item 5 is hereby amended and supplemented by adding the following:
(a) As of November 3, 1999, the Reporting Persons may be deemed to
beneficially own, to the best of their knowledge, an aggregate of 30,898,523
shares of Common Stock, representing approximately 58.8% of the outstanding
shares of Common Stock. The Reporting Persons are the direct owners of an
aggregate of 9,549,500 shares of Common Stock, or 28.5% of the outstanding
shares of Common Stock; 4,595,479 shares of 8% Preferred Stock, or 25.1% of the
outstanding shares of 8% Preferred Stock; and, on a
888926.1
<PAGE>
- ------------------------
CUSIP No. 57383M-10-8 SCHEDULE 13D
- ------------------------
converted basis, 14,324,202 shares of Common Stock, or 27.3% of the outstanding
shares of Common Stock on a converted basis.
(b) Mr. Perlmutter may be deemed to possess the power to vote and
dispose of the shares of 8% Preferred Stock owned by the Trust, Biobright and
Classic Heroes. The Trust, Biobright and Classic Heroes have the power to vote
and dispose of the shares of the 8% Preferred Stock they respectively own.
(c) On November 2, 1999, the Trust, Biobright and Classic Heroes
purchased an aggregate of 814,704 shares of 8% Preferred Stock, in each case at
a price of $6 3/8 per share, in a privately negotiated transaction as follows:
Biobright Corporation 250,000 shares, Classic Heroes, Inc. 250,000 shares and
the Trust 314,704 shares.
Item 6. Contracts, Arrangements, Understandings or Relationships With Respect
to Securities of the Issuer.
Item 6 is hereby amended and supplemented by adding the following:
The 814,704 shares of 8% Preferred Stock purchased by the Trust,
Biobright and Classic Heroes on November 2, 1999 were purchased from Dickstein &
Co., L.P., Dickstein International Limited and Elyssa Dickstein, each of whom is
a signatory to the Stockholders' Agreement. Those shares, in the hands of the
Trust, Biobright and Classic Heroes, will continue to be subject to the
Stockholders' Agreement.
In connection with the November 2, 1999 purchase of 814,704 shares of
8% Preferred Stock, the buyers and certain Dickstein Entities entered into an
agreement (the "Letter Agreement") pursuant to which, among other things,
effective upon the sale of the shares, each of the Dickstein Entities signatory
to the Letter Agreement and Mark Dickstein as Dickstein Designator (as defined
in the Stockholders' Agreement) (i) waive their rights under the Stockholders'
Agreement to have a Dickstein Designee (as defined in the Stockholders'
Agreement) nominated and/or elected as a director of the Company and (ii)
relinquish all other rights under the Stockholders' Agreement. A copy of the
Letter Agreement is annexed hereto as Exhibit 4.
Under the Stockholders' Ageement, the Dickstein Entities had the
right to designate one individual to serve as a director of the Company. The
Reporting Persons anticipate that Peter Cuneo, the Company's President and Chief
Executive Officer, will be appointed to fill the board seat previously held by a
designee of the Dickstein Entities.
888926.1
<PAGE>
- ------------------------
CUSIP No. 57383M-10-8 SCHEDULE 13D
- ------------------------
Item 7. Material to Be Filed as Exhibits.
Item 7 is hereby amended and supplemented by adding the following:
4 -- Letter Agreement dated November 2, 1999 in the form of letter
from Classic Heroes, Inc., Biobright Corporation, and Isaac
Perlmutter T.A. to Mark Dickstein, Dickstein & Co., L.P.,
Dickstein Focus Fund L.P., Dickstein International Limited,
Elyssa Dickstein, Jeffrey Schwarz and Alan Cooper as Trustees
U/T/A/D 12/27/88, Mark Dickstein, Grantor, and Mark Dickstein
and Elyssa Dickstein, as trustees of the Mark and Elyssa
Dickstein Foundation.
888926.1
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of its knowledge and belief, each
of the undersigned certifies that the information set forth in this statement is
true, complete and correct.
Dated: November 3, 1999
BIOBRIGHT CORPORATION
By: /s/ Isaac Perlmutter
--------------------------
Name: Isaac Perlmutter
Title: President
CLASSIC HEROES, INC.
By: /s/ Isaac Perlmutter
--------------------------
Name: Isaac Perlmutter
Title: President
ISAAC PERLMUTTER T.A.
By: /s/ Isaac Perlmutter
--------------------------
Isaac Perlmutter, Trustee
/s/ Isaac Perlmutter
------------------------------
Isaac Perlmutter
888926.1
CLASSIC HEROES, INC.
BIOBRIGHT CORPORATION
ISAAC PERLMUTTER T.A.
P.O. Box 1028
Lake Worth, Florida 33460-1028
November 2, 1999
Mark Dickstein
Dickstein & Co., L.P.
Dickstein Focus Fund L.P.
Dickstein International Limited
Elyssa Dickstein, Jeffrey Schwarz and Alan Cooper as Trustees U/T/A/D 12/27/88,
Mark Dickstein, Grantor
Mark Dickstein and Elyssa Dickstein, as trustees of the Mark and Elyssa
Dickstein Foundation
c/o Dickstein Partners Inc.
660 Madison Avenue, 16th Floor
Ladies and Gentlemen:
We have discussed with Dickstein & Co., L.P., Dickstein International
Limited and Elyssa Dickstein (the "Sellers") our proposed purchase from the
Sellers of an aggregate of 814,704 shares (the "Shares") of 8% cumulative
convertible exchangeable preferred stock, par value $0.01 per share, of Marvel
Enterprises, Inc., a Delaware corporation (the "Company").
You are members of the Investor Group under the Stockholders'
Agreement dated as of October 1, 1998 by and among the Company, Avi Arad, you,
the Perlmutter Entities, Chase, Morgan Stanley, and Whippoorwill (the
"Stockholders' Agreement"). Capitalized terms not defined in this letter have
the same meanings here as they do in the Stockholders' Agreement. You have
informed us that, effective upon the Sellers' sale to us of the Shares, each of
you, as Dickstein Entities, and Mark Dickstein, as Dickstein Designator, waive
your rights under the Stockholders' Agreement to have a Dickstein Designee
nominated and/or elected as a Director. You have also informed us that,
effective upon the Sellers' sale to us of the Shares, you relinquish all your
other rights under the Stockholders' Agreement.
Mark Dickstein, as Dickstein Designator, agrees that if any part of
the foregoing waiver and relinquishment is ineffective, then he shall, at any
time when permitted to make designations under the Stockholders' Agreement,
designate an individual named by the Investor Group Designator as the Dickstein
Designee.
We are relying, in purchasing the Shares from the Sellers, on the
waiver and relinquishment referred to above. With respect to those of you who
are Sellers, we are also relying upon your acknowledgment of the following: (i)
that, until Mark Dickstein's resignation as a member of the Company's Board of
Directors, you had, or had access to, information about the Company as a result
of Mr. Dickstein's service on the Company's Board of Directors and otherwise
that was the equivalent of the information about the Company which we have, or
to which we have access, as a result of Isaac Perlmutter's service on the
Company's Board of Directors and otherwise; (ii) that your decision to sell
888086.4
<PAGE>
us the Shares has been made without reliance on, or solicitation by, us, our
representatives or the Company; (iii) that the price at which you intend to sell
us the Shares is a price at which you would sell the shares, on the same terms,
to any willing buyer at this time (regardless of whether we believe the shares
are worth more than the sales price); and (iv) that, except for the payment of
the purchase price for the Shares, we will have no liability to you arising from
your sale to us of the Shares.
We acknowledge that you will have no liability to us arising from the
Sellers' sale to us of the Shares, other than your obligations under this letter
and the Sellers' obligation to deliver the Shares to us free and clear of any
encumbrances or adverse claims.
Please indicate your agreement to the foregoing by signing below.
Very truly yours,
CLASSIC HEROES, INC.
By: /s/ Isaac Perlmutter
-----------------------------------
Name: Isaac Perlmutter
Title: President
BIOBRIGHT CORPORATION
By: /s/ Isaac Perlmutter
-----------------------------------
Name: Isaac Perlmutter
Title: President
ISAAC PERLMUTTER T.A.
By: /s/ Isaac Perlmutter
-----------------------------------
Name: Isaac Perlmutter
Title: Trustee
888086.4
-2-
<PAGE>
AGREED:
/s/ Mark Dickstein
- -----------------------------------
Mark Dickstein, in his individual capacity and as the Dickstein Designator
DICKSTEIN & CO., L.P.
By: Dickstein Partners, L.P.
By: Dickstein Partners Inc.
By: /s/ Alan S. Cooper
-----------------------------------
Name: Alan S. Cooper
Title: Vice President
DICKSTEIN FOCUS FUND L.P.
By: Dickstein Partners, L.P.
By: Dickstein Partners Inc.
By: /s/ Alan S. Cooper
-----------------------------------
Name: Alan S. Cooper
Title: Vice President
DICKSTEIN INTERNATIONAL LIMITED
By: Dickstein Partners Inc.
By: /s/ Alan S. Cooper
-----------------------------------
Name: Alan S. Cooper
Title: Vice President
ELYSSA DICKSTEIN, JEFFREY SCHWARZ AND ALAN COOPER AS TRUSTEES
U/T/A/D 12/27/88, MARK DICKSTEIN, GRANTOR
By: /s/ Alan S. Cooper
-----------------------------------
Alan S. Cooper
Trustee
MARK DICKSTEIN AND ELYSSA DICKSTEIN, AS TRUSTEES OF THE
MARK AND ELYSSA DICKSTEIN FOUNDATION
By: /s/ Mark Dickstein
-----------------------------------
Mark Dickstein
Trustee
888086.4
-3-
