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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, LP
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(Last) (First) (Middle)
c/o Adams Capital Management, Inc
518 Broad Street
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(Street)
Sewickley PA 15143
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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)
Vice Chairman of the Board
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6. If Amendment, Date of Original (Month/Day/Year)
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7. Individual or Joint/Group Filing (Check Applicable Line)
[X] Form filed by One Reporting Person
[_] Form filed by More than One Reporting Person
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Table I -- Non-Derivative Securities Beneficially Owned
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<TABLE>
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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 45,195 (1) (1)
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* 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)
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<TABLE>
<CAPTION>
5. Owner-
3. Title and Amount of Securities ship
Underlying Derivative Security Form of
2. Date Exercisable (Instr. 4) Derivative
and Expiration Date --------------------------------- 4. Conver- Security:
(Month/Day/Year) Amount sion or Direct 6. Nature of
---------------------- or Exercise (D) or Indirect
Date Expira- Number Price of Indirect Beneficial
1. Title of Derivative Exer- tion of Derivative (I) Ownership
Security (Instr. 4) cisable 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 11,243 $.00374740 (1) (1)
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Series D Convertible
Preferred Stock Immed. Common Stock 13,695 $.01506477 (1) (1)
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Series E Senior
Convertible
Preferred Stock Immed. Common Stock 422,932 $.01506477 (1) (1)
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Series F Senior
Convertible
Preferred Stock Immed. Common Stock 272,590 $.01506477 (1) (1)
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Series G Senior
Convertible
Preferred Stock Immed. Common Stock 11,867 $.01506477 (1) (1)
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Common Stock Warrant
(right to buy) Immed. 6/10/09 Common Stock 8,178 $3.67 (1) (1)
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</TABLE>
Explanation of Responses: (1) These securities are owned directly by The P/A
Fund, L.P. ("P/A"), a ten percent owner of the issuer; and indirectly by APA
Pennsylvania Partners II, L.P. ("APA Pennsylvania") and Fostin Capital Partners
II, L.P. ("Fostin"), General Partners of P/A, and Alan Patricof, George M.
Jenkins, Janet Effland, Robert M. Chefitz, Greg Case and Salem Shuchman, General
Partners of APA Pennsylvania, and Joel P. Adams ("Adams") and William C.
Hulley, the General Partners of Fostin (collectively, the "General Partners").
The General Partners disclaim beneficial ownership of these securities except
to the extent of their respective pecuniary interests therein.
THE P/A FUND, LP
By: APA Pennsylvania Partners II, L.P., General Partner
/s/ Joel P. Adams 12/6/99
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**Signature of Reporting Person Date
Joel P. Adams, 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.
Name: APA Pennsylvania Partners II, 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
APA Pennsylvania Partners II, L.P.
Signature: /s/ Robert M. Chefitz
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Robert M. Chefitz, General Partner
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
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
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George M. Jenkins
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
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
Name: Greg Case
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/ Greg Case
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Greg Case
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
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Salem Shuchman
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
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
Name: William C. Hulley
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 C. Hulley
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William C. Hulley
