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OMB APPROVAL
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OMB Number 3235-0287
Expires: September 30, 1998
Estimated average burden
hours per response ....... 0.5
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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 this 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
Feinberg Stephen
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(Last) (First) (Middle)
450 Park Avenue, 28th Floor
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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
Wherehouse Entertainment, Inc.
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3. IRS or Social Security Number of Reporting Person (Voluntary)
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4. Statement for Month/Year
September/1998
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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 Persion
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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>
TRANSACTIONS BY CERBERUS PARTNERS, L.P.*
Common Stock 9/29/98 P 33,000* A $14.00 1,670,222* I* *
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TRANSACTIONS BY CERBERUS INTERNATIONAL, LTD.*
Common Stock 9/29/98 P 38,000* A $14.00 1,962,182* I* *
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TRANSACTIONS BY ULTRA CERBERUS FUND, LTD.
Common Stock 9/29/98 P 3,290* A $14.00 156,583 I* *
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TRANSACTIONS BY THE FUNDS
Common Stock 9/29/98 P 62,000* A $14.00 3,237,608 I* *
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</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly
*If form is filed by more than one reporting person, see Instruction 4(b)(v).
<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>
9. 10.
Number Owner-
of ship
2. Deriv- Form of
Conver- 5. 7. ative Deriv- 11.
sion Number of Title and Amount Secur- ative Nature
of 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>
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TRANSACTIONS BY $11.00 9/29/98 P 1,431* immed. 1/31/04 Common 1,431* $3.00 1,886* I* By
CERBERUS Stock Partner-
PARTNERS, L.P* ships*
TRANCHE C WARRANT
(right to buy)
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TRANSACTIONS BY $11.00 9/29/98 P 9,000* immed. 1/31/04 Common 9,000* $3.00 12,000* I* By cor-
CERBERUS INTER- Stock porations*
NATIONAL, LTD.*
TRANCHE C WARRANT
(right to buy)
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TRANSACTIONS BY $11.00 9/29/98 P 2,000* immed. 1/31/04 Common 2,000* $3.00 2,682* I* By cor-
ULTRA CERBERUS Stock porations*
FUND, LTD.*
TRANCHE C WARRANT
(right to buy)
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TRANSACTIONS BY $11.00 9/29/98 P 7,000* immed. 1/31/04 Common 7,000* $3.00 9,725* I* By part-
THE FUNDS* Stock nerships
TRANCHE C WARRANT and
(right to buy) corpora-
tions*
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</TABLE>
Explanation of Responses:
(*) The reporting person possesses voting and investment control over all
securities of Wherehouse Entertainment, Inc. owned by Cerberus, International,
Ultra and The Funds. The reporting person's interest is limited to the extent of
his pecuniary interest, if any, in Cerberus, International, Ultra and The Funds.
/s/ Stephen Feinberg October 9, 1998
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**Signature of Reporting Person Date
** 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 procedures.
Potential persons who are to respond to the collection of information
contained in this form are not required unless the form displays a
currently valid OMB Number
