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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 3
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
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
(Print or Type Responses)
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1. Name and Address of Reporting Person*
THE P/A FUND, L.P.
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(Last) (First) (Middle)
c/o Patricof & Co.
445 Park Avenue
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(Street)
NEW YORK NY 10022
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(City) (State) (Zip)
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2. Date of Event Requiring Statement (Month/Day/Year)
12/06/99
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3. IRS Identification Number of Reporting Person, if an Entity. (Voluntary)
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4. Issuer Name and Ticker or Trading Symbol
AIRNET COMMUNICATIONS CORPORATION (ANCC)
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5. Relationship of Reporting Person to Issuer
(Check all applicable)
[_] Director [X] 10% Owner
[_] Officer (give title below) [_] Other (specify below)
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6. If Amendment, Date of Original (Month/Day/Year)
________________________________________________________________________________
7. Individual or Joint/Group Filing (Check Applicable Line)
[ ] Form filed by One Reporting Person
[X] Form filed by More than One Reporting Person
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TABLE I -- NON-DERIVATIVE SECURITIES BENEFICIALLY OWNED
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<TABLE>
<CAPTION>
3. Ownership Form:
2. Amount of Securities Direct (D) or
1. Title of Security Beneficially Owned Indirect (I) 4. Nature of Indirect Beneficial Ownership
(Instr. 4) (Instr. 4) (Instr. 5) (Instr. 5)
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<S> <C> <C> <C>
Common Stock 90,390 (1)(8) (1)(8)
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</TABLE>
* If the form is filed by more than one Reporting Person, see Instruction
5(b)(v).
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
(Over)
(Form 3-07/99)
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FORM 3 (continued)
TABLE II - DERIVATIVE SECURITIES BENEFICIALLY OWNED (E.G., PUTS, CALLS,
WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
<TABLE>
<CAPTION>
2. Date Exercisable 3. Title and Amount of 5. Ownership
and Expiration Securities Underlying Form of
Date Derivative Security Derivative
(Month/Day/Year) (Instr. 4) 4. Conversion Security 6. Nature of
------------------- ------------------------ or Exercise Direct (D) Indirect
Date Expira- Amount or Price of or Beneficial
1. Title of Derivative Exercis- tion Number of Derivative Indirect (1) Ownership
Security (Instr. 4) able Date Title Shares Security (Instr. 5) (Instr. 5)
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<S> <C> <C> <C> <C> <C> <C> <C>
Series A Convertible
Preferred Stock Immed. Common Stock 22,487 $.00374740 (2)(8) (2)(8)
Series D Convertible
Preferred Stock Immed. Common Stock 34,238 $.00374740 (3)(8) (3)(8)
Series E Senior
Convertible
Preferred Stock Immed. Common Stock 1,268,796 $.01506477 (4)(8) (4)(8)
Series F Senior
Convertible
Preferred Stock Immed. Common Stock 735,031 $.01506477 (5)(8) (5)(8)
Series G Senior
Convertible
Preferred Stock Immed. Common Stock 35,601 $.01506477 (6)(8) (6)(8)
Common Stock Warrant
(right to buy) Immed. 6/10/09 Common Stock 24,535 $.01506477 (7)(8) (7)(8)
</TABLE>
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Explanation of Responses:
(1) These securities are owned by The P/A Fund (45,195), Coults & Co. (12,025),
CIN Venture Nominees, Ltd. (1,627) and APA Excelsior III, L.P. (31,543).
(2) These securities are owned by The P/A Fund (11,243), Coults & Co. (2,992),
CIN Venture Nominees, Ltd. (405) and APA Excelsior III, L.P. (7,847).
(3) These securities are owned by The P/A Fund (13,695), Coults & Co. (5,464),
CIN Venture Nominees, Ltd. (740) and APA Excelsior III, L.P. (14,339).
(4) These securities are owned by The P/A Fund (422,932), Coults & Co.
(225,000), CIN Venture Nominees, Ltd. (30,451) and APA Excelsior III, L.P.
(590,413).
(5) These securities are owned by The P/A Fund (272,590), Coults & Co.
(122,813), CIN Venture Nominees, Ltd. (17,361) and APA Excelsior III, L.P.
(322,267).
(6) These securities are owned by The P/A Fund (11,867), Coults & Co. (6,313),
CIN Venture Nominees, Ltd. (855) and APA Excelsior III, L.P. (16,566).
(7) These securities are owned by The P/A Fund (8,178), Coults & Co. (4,351),
CIN Venture Nominees, Ltd. (589) and APA Excelsior III, L.P. (11,417).
(8) The securities held directly by The P/A Fund, L.P. ("P/A"), a ten percent
owner of the issuer, are indirectly held by APA Pennsylvania Partners II,
L.P. ("APA Pennsylvania") and Fostin Capital Partners II, L.P. ("Fostin"),
the General Partners of P/A, and by Alan Patricof, George M. Jenkins, Janet
Effland, Robert M. Chefitz, Greg Case and Salem Shuchman, the General
Partners of APA Pennsylvania; and Fostin Capital Corp., Joel P. Adams,
William F. Woods and Thomas M. Levine, the General Partners of Fostin. The
securities held directly by Coults & Co. and APA Excelsior III, L.P., are
indirectly held by APA Excelsior III Partners, L.P., the General Partner of
each of Coults & Co. and APA Excelsior III, L.P., and by Alan Patricof,
George M. Jenkins, Robert M. Chefitz and Janet Effland, the General Partners
of APA Excelsior III Partners, L.P. The securities held directly by CIN
Venture Nominees, Ltd. are indirectly held by Patricof & Co. Ventures, Inc.,
the General Partner of CIN Venture Nominees, Ltd. In each case, the indirect
beneficial owner disclaims beneficial ownership of the respective securities
which he, she or it is deemed to indirectly hold except to the extent of
such owner's pecuniary interest therein.
THE P/A FUND, L.P.
By: APA Pennsylvania Partners II, L.P.
/s/ Robert M. Chefitz 12/6/99
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**Signature of Reporting Person Date
Robert M. Chefitz, General Partner
** 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.
Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a currently
valid OMB Number.
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Name: Coutts & Co. (Jersey), Ltd.,
Custodian for APA Excelsior III/Offshore, L.P.
Address: c/o Patricof & Co.
445 Park Avenue
New York, NY 10022
Designated Filer: The P/A Fund, L.P.
Issuer and Ticker
Symbol: AirNet Communications Corporation (ANCC)
Date of Event
Requiring Statement: 12/06/99
By: APA Excelsior III Partners, L.P., General Partner
Signature: /s/ Robert M. Chefitz
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Robert M. Chefitz, General Partner
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Name: CIN Venture Nominees, Ltd.
Address: c/o Patricof & Co.
445 Park Avenue
New York, NY 10022
Designated Filer: The P/A Fund, L.P.
Issuer and Ticker
Symbol: AirNet Communications Corporation (ANCC)
Date of Event
Requiring Statement: 12/06/99
By: Patricof & Co. Ventures, Inc.,
Investment Advisor
Signature: /s/ Robert M. Chefitz
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Robert M. Chefitz, Managing Director
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Name: APA Excelsior III, L.P.
Address: c/o Patricof & Co.
445 Park Avenue
New York NY 10022
Designated Filer: The P/A Fund, L.P.
Issuer and Ticker
Symbol: AirNet Communications Corporation (ANCC)
Date of Event
Requiring Statement: 12/06/99
By: APA Excelsior III Partners, L.P.,
General Partner
Signature: /s/ Robert M. Chefitz
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Robert M. Chefitz, General Partner
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Name: Alan Patricof
Address: c/o Patricof & Co.
445 Park Avenue
New York, NY 10022
Designated Filer: The P/A Fund, L.P.
Issuer and Ticker
Symbol: AirNet Communications Corporation (ANCC)
Date of Event
Requiring Statement: 12/06/99
Signature: /s/ Alan Patricof
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Alan Patricof
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Name: George M. Jenkins
Address: c/o Patricof & Co.
445 Park Avenue
New York, NY 10022
Designated Filer: The P/A Fund, L.P.
Issuer and Ticker
Symbol: AirNet Communications Corporation (ANCC)
Date of Event
Requiring Statement: 12/06/99
Signature: /s/ George M. Jenkins
---------------------------------
George M. Jenkins
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Name: Janet Effland
Address: c/o Patricof & Co.
445 Park Avenue
New York, NY 10022
Designated Filer: The P/A Fund, L.P.
Issuer and Ticker
Symbol: AirNet Communications Corporation (ANCC)
Date of Event
Requiring Statement: 12/06/99
Signature: /s/ Janet Effland
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Janet Effland
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Name: APA Pennsylvania Partners II, L.P.
Address: c/o Adams Capital Management, Inc.
518 Broad Street
Sewickley, PA 15143
Designated Filer: The P/A Fund, L.P.
Issuer and Ticker
Symbol: AirNet Communications Corporation (ANCC)
Date of Event
Requiring Statement: 12/06/99
APA Pennsylvania Partners II, L.P.,
Signature: /s/ Robert M. Chefitz
----------------------------------------
Robert M. Chefitz, General Partner
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Name: Robert M. Chefitz
Address: c/o Patricof & Co.
445 Park Avenue
New York, NY 10022
Designated Filer: The P/A Fund, L.P.
Issuer and Ticker
Symbol: AirNet Communications Corporation (ANCC)
Date of Event
Requiring Statement: 12/06/99
Signature: /s/ Robert M. Chefitz
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Robert M. Chefitz
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Name: Greg Case
Address: c/o Patricof & Co.
445 Park Avenue
New York, NY 10022
Designated File: The P/A Fund, L.P.
Issuer and Ticker
Symbol: AirNet Communications Corporation (ANCC)
Date of Event
Requiring Statement: 12/06/99
Signature: /s/ Greg Case
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Greg Case
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Name: Salem Shuchman
Address: c/o Patricof & Co.
445 Park Avenue
New York, NY 10022
Designated Filer: The P/A Fund, L.P.
Issuer and Ticker
Symbol: AirNet Communications Corporation (ANCC)
Date of Event
Requiring Statement: 12/06/99
Signature: /s/ Salem Shuchman
---------------------
Salem Shuchman
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Name: Fostin Capital Partners II, L.P.
Address: c/o Adams Capital Management, Inc.
518 Broad Street
Sewickley, PA 15143
Designated Filer: The P/A Fund, L.P.
Issuer and Ticker
Symbol: AirNet Communications Corporation (ANCC)
Date of Event
Requiring Statement: 12/06/99
FOSTIN CAPITAL PARTNERS II, L.P.
Signature: /s/ Joel P. Adams
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Joel P. Adams, General Partner
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Name: Fostin Capital Corp.
Address: c/o Adams Capital Management, Inc.
518 Broad Street
Sewickley, PA 15143
Designated Filer: The P/A Fund, L.P.
Issuer and Ticker
Symbol: AirNet Communications Corporation (ANCC)
Date of Event
Requiring Statement: 12/06/99
FOSTIN CAPITAL CORP.
Signature: /s/ Joel P. Adams
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Joel P. Adams, Vice President
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Name: Joel P. Adams
Address: c/o Adams Capital Management, Inc.
518 Broad Street
Sewickley, PA 15143
Designated Filer: The P/A Fund, L.P.
Issuer and Ticker
Symbol: AirNet Communications Corporation (ANCC)
Date of Event
Requiring Statement: 12/06/99
Signature: /s/ Joel P. Adams
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Joel P. Adams
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Name: William F. Woods
Address: c/o Adams Capital Management, Inc.
518 Broad Street
Sewickley, PA 15143
Designated Filer: The P/A Fund, L.P.
Issuer and Ticker
Symbol: AirNet Communications Corporation (ANCC)
Date of Event
Requiring Statement: 12/06/99
Signature: /s/ William F. Woods
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William F. Woods
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Name: Thomas M. Levine
Address: c/o Adams Capital Management, Inc.
518 Broad Street
Sewickley, PA 15143
Designated Filer: The P/A Fund, L.P.
Issuer and Ticker
Symbol: AirNet Communications Corporation (ANCC)
Date of Event
Requiring Statement: 12/06/99
Signature: /s/ Thomas M. Levine
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Thomas M. Levine
(Page 18 of 20)
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Name: APA Excelsior III Partners, L.P.
Address: c/o Patricof & Co.
445 Part Avenue
New York, NY 10022
Designated Filer: The P/A Fund, L.P.
Issuer and Ticker
Symbol: AirNet Communications Corporation (ANCC)
Date of Event
Requiring Statement: 12/06/99
APA Excelsior III Partners, L.P.,
Signature: /s/ Robert M. Chefitz
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Robert M. Chefitz, General Partner
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Name: Patricof & Co. Ventures, Inc.
Address: c/o Patricof & Co.
445 Park Avenue
New York, NY 10022
Designated Filer: The P/A Fund, L.P.
Issuer and Ticker
Symbol: AirNet Communications Corporation (ANCC)
Date of Event
Requiring Statement: 12/06/99
Patricof & Co. Ventures, Inc.
Signature: /s/ Robert M. Chefitz
----------------------------------------
Robert M. Chefitz, General Partner
