<PAGE> 1
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. )*
-----------
Actrade International
- --------------------------------------------------------------------------------
(NAME OF ISSUER)
Common
- --------------------------------------------------------------------------------
(TITLE OF CLASS OF SECURITIES)
004931101
------------------------------------
(CUSIP NUMBER)
Check the following box if a fee is being paid with this statement [ ]. (A fee
is not required only if the filing 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 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> 2
CUSIP NO. 004931101 13G PAGE 2 OF 4 PAGES
- ---------------------- -----------------
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Driehaus Capital Management, Inc.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
ILLINOIS, U.S.A.
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF 302,152
SHARES ------------------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY
EACH 0
REPORTING ------------------------------------------------------------------
PERSON 7 SOLE DISPOSITIVE POWER
WITH
796,021
------------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
0
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
796,021
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
9.87%
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IA
- --------------------------------------------------------------------------------
* SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE> 3
Page 3 of 4
Driehaus Capital Management, Inc.
SCHEDULE 13G
Item 1. (a) Name of Issuer: Actrade International
(b) Issuer's Principal Executive Offices:
7 Penn Plaza
New York, NY 10001
Item 2. (a) Person Filing - Driehaus Capital Management, Inc.
(b) Address - 25 East Erie Street
Chicago, IL 60611
(c) Citizenship - U.S.A.
(d) Title of Class of Securities - Common
(e) CUSIP Number - 004931101
Item 3. (e) Investment Adviser Registered under section 203 of the
Investment Advisers Act of 1940.
Item 4. (a) Amount Beneficially Owned - 796,021
(b) Percent of Class - 9.87%
(c) Number of shares as to which reporting person has:
(i) Sole voting power 302,152
(ii) Shared voting power 0
(iii)Sole dispositive power 796,021
(iv) Shared dispositive power 0
Item 5. Not Applicable
Item 6. The reporting person, Driehaus Capital Management, Inc., manages
accounts for numerous clients on a fully discretionary basis.
Securities held in these clients' accounts are included in this
report to reflect the fact that the reporting person may have
voting power or dispositive power. To the best of the reporting
person's knowledge, none of the clients whose securities are
included in this report have an ownership interest in the
subject class of securities which exceeds five percent of the
class.
<PAGE> 4
Driehaus Capital Management, Inc. Page 4 of 4
SCHEDULE 13G
Item 7. Not Applicable
Item 8. Not Applicable
Item 9. Not Applicable
Item 10. Certification
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above are acquired in the
ordinary course of business and were not acquired for the purpose of
and do not have the effect of changing or influencing the control of
the issuer of such securities and were not acquired in connection
with or as a participant in any transaction having such purposes or
effect.
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.
February 10, 1998
------------------------------
Date
/s/ [Signature]
------------------------------
Signature
Mary H. Weiss, Vice President
------------------------------
Name/Title
