U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
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
[_] Check box if no longer subject of Section 16. Form 4 or Form 5 obligations
may continue. See Instruction 1(b).
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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. Issuer Name and Ticker or Trading Symbol
AirNet Communications Corporation (ANCC)
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3. IRS Identification Number of Reporting Person, if an Entity (Voluntary)
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4. Statement for Month/Year
12/99
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5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person to Issuer
(Check all applicable)
[_] Director [X] 10% Owner
[_] Officer (give title below) [_] Other (specify below)
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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 Acquired, Disposed of,
or Beneficially Owned
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<TABLE>
<CAPTION>
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6.
4. 5. Owner-
Securities Acquired (A) or Amount of ship
3. Disposed of (D) Securities Form: 7.
Transaction (Instr. 3, 4 and 5) Beneficially Direct Nature of
2. Code ------------------------------- Owned at End (D) or Indirect
1. Transaction (Instr. 8) (A) of Month Indirect Beneficial
Title of Security Date ------------ Amount or Price (Instr. 3 (I) Ownership
(Instr. 3) (mm/dd/yy) Code V (D) and 4) (Instr.4) (Instr. 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Common Stock 12/10/99 C 22,487 A $.00374740 (8) (8)
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Common Stock 12/10/99 C 2,073,666 A $.01506477 (8) (8)
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Common Stock 12/10/99 X 24,535 A $3.67 2,211,078 (1) (1)(8) (1)(8)
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</TABLE>
* If the Form is filed by more than one Reporting Person, see Instruction
4(b)(v).
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
(Print or Type Responses)
(Over)
(Form 4-07/99)
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FORM 4 (continued)
Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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<TABLE>
<CAPTION>
10.
9. Owner-
Number ship
of Form
2. Deriv- of
Conver- 5. 7. ative Deriv- 11.
sion Number of Title and Amount Secur- ative Nature
or Derivative 6. of Underlying 8. ities Secur- of
Exer- 4. Securities Date Securities Price Bene- ity: In-
cise 3. Trans- Acquired (A) Exercisable and (Instr. 3 and 4) of ficially Direct direct
Price Trans- action or Disposed Expiration Date ---------------- Deriv- Owned (D) or Bene-
1. of action Code of(D) (Month/Day/Year) Amount ative at End In- ficial
Title of Deriv- Date (Instr. (Instr. 3, ---------------- or Secur- of direct Owner-
Derivative ative (Month/ 8) 4 and 5) Date Expira- Number ity Month (I) ship
Security Secur- Day/ ------ ------------ Exer- tion of (Instr. (Instr. (Instr. (Instr.
(Instr. 3) ity Year) Code V (A) (D) cisable Date Title Shares 5) 4) 4) 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Series A
Convertible Common
Preferred Stock $.00374740 12/10/99 C 22,487(1) Immed. Stock 22,487(1) 0 (2)(8) (2)(8)
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Series D
Convertible Common
Preferred Stock $.01506477 12/10/99 C 34,238(1) Immed. Stock 34,238(1) 0 (3)(8) (3)(8)
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Series E Senior
Convertible Common
Preferred Stock $.01506477 12/10/99 C 1,268,796(1) Immed. Stock 1,268,796(1) 0 (4)(8) (4)(8)
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Series F Senior
Convertible Common
Preferred Stock $.01506477 12/10/99 C 753,031(1) Immed. Stock 735,031(1) 0 (5)(8) (5)(8)
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Series G Senior
Convertible Common
Preferred Stock $.01506477 12/10/99 C 35,601(1) Immed. Stock 35,601(1) 0 (6)(8) (6)(8)
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Common Stock
Warrant Common
(Right to Buy) $ 3.67 12/10/99 X 24,535(1) Immed. 6/10/09 Stock 24,535(1) 0 (7)(8) (7)(8)
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</TABLE>
Explanation of Responses:
(1) These securities are owned by The P/A Fund (785,700), Coutts & Co.
(378,958), CIN Venture Nominees, Ltd. (52,028) and APA Excelsior III, L.P.
(994,392).
(2) These securities are owned by The P/A Fund (11,243), Coutts & 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), Coutts & 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), Coutts & 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), Coutts & 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), Coutts & 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), Coutts & 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 Coutts & Co. and APA Excelsior III, L.P., are
indirectly held by APA Excelsior III Partners, L.P., the General Partner of
each of Coutts & 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. Cheftiz January 10, 2000
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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.
Page 2
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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)
Statement for
Month/Year: 12/99
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)
Statement for
Month/Year: 12/99
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)
Statement for
Month/Year: 12/99
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)
Statement for
Month/Year: 12/99
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)
Statement for
Month/Year: 12/99
Signature: /s/ George M. Jenkins
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George M. Jenkins
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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)
Statement for
Month/Year: 12/99
Signature: /s/ Robert M. Chefitz
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Robert M. Chefitz
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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)
Statement for
Month/Year: 12/99
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)
Statement for
Month/Year: 12/99
APA Pennsylvania Partners II, L.P.,
Signature: /s/ Robert M. Chefitz
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Robert M. Chefitz, General Partner
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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)
Statement for
Month/Year: 12/99
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)
Statement for
Month/Year: 12/99
Signature: /s/ Salem Shuchman
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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)
Statement for
Month/Year: 12/99
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)
Statement for
Month/Year: 12/99
FOSTIN CAPITAL CORP.
Signature: /s/ Joel P. Adams
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Joel P. Adams, Vice President
<PAGE>
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)
Statement for
Month/Year: 12/99
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)
Statement for
Month/Year: 12/99
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)
Statement for
Month/Year: 12/99
Signature: /s/ Thomas M. Levine
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Thomas M. Levine
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Name: APA Excelsior III Partners, 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)
Statement for
Month/Year: 12/99
APA Excelsior III Partners, L.P.,
Signature: /s/ Robert M. Chefitz
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Robert M. Chefitz, General Partner
<PAGE>
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)
Statement for
Month/Year: 12/99
Patricof & Co. Ventures, Inc.
Signature: /s/ Robert M. Chefitz
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Robert M. Chefitz, Managing Director
