|
|
|
|
|
|
|
|
|
|
|
|
|
<TABLE>
<CAPTION>
FORM 3 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
<S> <C> <C>
OMB APPROVAL
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES OMB Number:3235-0104
Expires:September 30, 1998
Estimated average burden
hours per response0.5
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
(Print or Type Responses) Section 17(a) of the Public Utility
Holding Company Act of 1935 or Section 30(f) of the Investment
Company Act of 1940
</TABLE>
<TABLE>
<CAPTION>
<S> <C> <C>
1. Name and Address of Reporting Person* 2. Date of 4. Issuer Name AND Ticker or Trading Symbol
Event Re- TearDrop Golf Company TDRP
U.S. Industries, Inc. quiring
Statement
(Month/Day/Year)
3/31/98
</TABLE>
<TABLE>
<CAPTION>
<S> <C> <C>
(Last) (First) (Middle) 5. Relationship of Reporting 6. If
Person(s) to Issuer Amendment,
(check all applicable) Date of
101 Wood Avenue South Original
______ Director __X__ 10% Owner (Month/
______ Officer (give _____ Other (Specify Day/Year)
title below) below)
</TABLE> 11/18/97
<TABLE>
<CAPTION>
<S> <C> <C>
(Street) 3. IRS or 7. Individual or Joint/Group Filing
Social Se- (Check applicable Line)
curity ___ Form filed by One Reporting Person
Iselin NJ 08830 Number of _X_ Form filed by More than One
Reporting Reporting Person
Person
(Voluntary)
</TABLE>
<TABLE>
<S> <C>
(City (State) (Zip) TABLE I -- NON-DERIVATIVE SECURITIES BENEFICIALLY OWNED
</TABLE>
<TABLE>
<CAPTION>
<S> <C> <C> <C>
1. Title of Security 2. Amount of 3. Ownership 4. Nature of Indirect Beneficial Ownership
(Instr. 4) Securities Form: (Instr. 5)
Beneficially Direct
Owner (D) or
(Instr. 4) Indirect
(Instr. 5)
Common Stock 175,000 I By wholly-owned indirect subsidiary TA
Liquidation Corp., f/k/a Tommy Armour
Golf Company
</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
(Over)
*If the form is filed by more than one reporting person, see Instruction
5(b)(v).
SEC 1473 (9-98)
<PAGE>
FORM 3 (CONTINUED) TABLE II -- DERIVATIVE SECURITIES
BENEFICIALLY OWNED (E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE
SECURITIES)
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C>
1. Title of Derivative Security 2. Date 3. Title and Amount of 4. Conversion 5. Ownership 6. Nature of
(Instr. 4) Exercisable and Securities Underlying or Exercise Form of Indirect
Expiration Derivative Security Price of Derivative Beneficial
Date Instr. 4) Derivative Security: Ownership
(Month/Day/Year) Security Direct (D) (Instr. 5)
or Indirect
(I) Instr. 5)
</TABLE>
<TABLE>
<CAPTION>
<S> <C> <C> <C> <C> <C> <C> <C>
Date Expira- Amount
Exer- tion Title or
cisable Date Number
of
Shares
Series A Convertible Preferred Stock 11/10/97 11/10/02 Common Stock 1,333,333 $7.50 I By wholy-owned
indirect sub-
sidiary TA
Liquidation
Corp., f/k/a
Tommy Armour
Golf Company
</TABLE>
This statement is filed on behalf of U.S. Industries, Inc., together with the
wholly-owned subsidiaries through which it beneficially owns the interests
reported herein, namely USI American Holdings, Inc., Jacuzzi Inc., JUSI
Holdings, Inc., and TA Liquidation Corp., formerly known as Tommy Armour Golf
Company (the direct beneficial owner). On November 10, 1997, the reporting
person and its subsidiaries (collectively, the "Reporting Group") consummated
an Asset Purchase Agreement with the issuer, under which the Reporting Group
received 1,000,000 shares of common stock. This transaction was reported on
a Form 3 filed on November 18, 1997. On March 31, 1998, the Reporting Group
agreed to an adjustment of the consideration received under said Asset Purchase
Agreement, in accordance with the terms of said Agreement and the terms of a
Settlement Agreement dated March 31, 1998. Accordingly, the number of shares
of Common Stock received by the Reporting Group was reduced from 1,000,000 to
175,000.
U.S Industries, Inc.
<TABLE>
<CAPTION>
<S> <C> <C>
** Intentional misstatements or omissions
of facts constitute Federal Criminal
Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). /s/ Steven C. Barre 4/06/98
------------------------------- ------------------
**Signature of Reporting Person Date
by: Steven C. Barre
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
SEC 1473 (9-9
</TABLE>
|
|