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FORM 4
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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 this box if no longer subject to Section 16. Form 4 or Form 5
obligations may continue. See Instruction 1(b).
(Print or Type Responses)
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1. Name and Address of Reporting Person*
TANDEM PCS INVESTMENTS, L.P.
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(Last) (First) (Middle)
c/o CAPITAL COMMUNICATIONS CDPQ
1981 McGILL COLLEGE AVENUE
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(Street)
MONTREAL, QUEBEC H3A 3C7, CANADA
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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 or Social Security Number of Reporting Person, if an entity (Voluntary)
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4. Statement for Month/Year
DECEMBER 1999
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5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person(s) 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)
[X] Form filed by One Reporting Person
[_] 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>
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) (Month/Day/Year) 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 2,145,465 A $.01506477 2,145,465 (1) (1)
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</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction
4(b)(v).
(Over)
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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 F Senior
Convertible Common
Preferred Stock $.01506477 12/10/99 C 1,908,133 Immed. Stock 1,908,133 (1) (1)
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Series G Senior
Convertible Common
Preferred Stock $.01506477 12/10/99 C 237,332 Immed. Stock 237,332 (1) (1)
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</TABLE>
Explanation of Responses:
(1) The securities are owned directly by Tandem PCS Investments, L.P.,
a ten percent owner of the issuer, and indirectly by Live Cycles Holding Co.
("Live Cycles"), general partner of Tandem PCS Investments, L.P. Live Cycles
disclaims beneficial ownership of these securities except to the extent of its
pecuniary interest therein.
TANDEM PCS INVESTMENTS, L.P.
/s/ Pierre Belanger, President 1/10/2000
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**Signature of Reporting Person Date
/s/ Lynn McDonald, Vice
President and Secretary
** 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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Live Cycles Holding Co.
c/o Capital Communications CDPQ
1981 McGill College Avenue
Montreal, Quebec H3A 3C7, Canada
TANDEM PCS INVESTMENTS, L.P.
AirNet Communications Corporation (ANCC)
December 1999
Live Cycles Holding Co.
/s/ Pierre Belanger
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Pierre Belanger, President
/s/ Lynn McDonald
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Lynn McDonald, Vice President and Secretary
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