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*
Fostin Capital Associates II, L.P.
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(Last) (First) (Middle)
c/o Adams Capital Management
518 Broad Street
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(Street)
Sewickley PA 15143
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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)
[X] Form filed by one Reporting Person
[_] Form filed by more than one Reporting Person
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<PAGE>
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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) (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 252,780 A $.01506477 252,780 (1) (1)
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Common Stock 12/10/99 C 3,748 A $.00374740 3,748 (1) (1)
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Common Stock -- -- -- -- -- 271,593 -- --
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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)
<PAGE>
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 3,748 Immed. Stock 3,748 (1) (1)
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Series D
Convertible Common
Preferred Stock $.01506477 12/10/99 C 3,424 Immed. Stock 3,424 (1) (1)
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Series E Senior
Convertible Common
Preferred Stock $.01506477 12/10/99 C 211,466 Immed. Stock 211,466 (1) (1)
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Series F Senior
Convertible Common
Preferred Stock $.01506477 12/10/99 C 37,890 Immed. Stock 37,890 (1) (1)
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</TABLE>
Explanation of Responses:
(1) These securities are held directly by Fostin Capital Associates II
("Fostin"), a ten percent owner of the issuer, and indirectly by Fostin
Capital Corp. ("Fostin Capital"), Joel P. Adams ("Adams"), William F. Woods
("Woods") and Thomas M. Levine ("Levine"), General Partners of Fostin.
Fostin Capital, Adams, Woods and Levine disclaim beneficial ownership of
these securities except to the extent of their respective pecuniary
interests therein.
FOSTIN CAPITAL ASSOCIATES II, L.P.
/s/ Joel P. Adams January 10, 2000
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**Signature of Reporting Person Date
By: 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.
Page 2
Name: Fostin Capital Corp.
Address: c/o Adams Capital Management, Inc.
518 Broad Street
Sewickley, PA 15143
Designated Filer: Fostin Capital Associates II, 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: Fostin Capital Associates II, 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
<PAGE>
Name: William F. Woods
Address: c/o Adams Capital Management, Inc.
518 Broad Street
Sewickley, PA 15143
Designated Filer: Fostin Capital Associates II, L.P.
Issuer and Ticker
Symbol: AirNet Communications Corporation (ANCC)
Statement for
Month/Year: 12/99
Signature: /s/ William P. Woods
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William F. Woods
<PAGE>
Name: Thomas M. Levine
Address: c/o Adams Capital Management, Inc.
518 Broad Street
Sewickley, PA 15143
Designated Filer: Fostin Capital Associates II, 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
