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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 13D
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
RULE 13d-2(a)
(Amendment No. ___)
TELTRONICS, INC.
----------------
(Name of Issuer)
COMMON STOCK, $.001 PAR VALUE
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(Title of Class of Securities)
879698306
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(CUSIP Number)
DAVID M. RESHA
FINOVA MEZZANINE CAPITAL, INC.
500 Church Street
Suite 200
Nashville, TN 37219
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communication)
March 22, 1999
-----------------
(Date of Event Which Requires Filing of This Statement)
If the filing persons has previously filed a statement on Schedule 13G
to report the acquisition that is the subject of this Schedule 13D, and is
filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the
following box [X].
(Continued on following pages)
Page 1 of 5 pages
The information required on the remainder of this cover page shall not
be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the Notes)
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CUSIP No. 879698306 13D Page 2 of 5 Pages
1. NAME OF REPORTING PERSON
SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON
Finova Mezzanine Capital, Inc., formerly known as Sirrom Capital
Corporation. 62-1583116
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
N/A (b) [ ]
3. SEC USE ONLY
4. SOURCE OF FUNDS
WC
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEM 2(d) OR 2(e) [ ]
N/A
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Tennessee
- --------------------------------------------------------------------------------
NUMBER OF 7. SOLE VOTING POWER
SHARES 1,642,491
BENEFICIALLY --------------------------------------------------------------
OWNED BY EACH 8. SHARED VOTING POWER
REPORTING 0
PERSON --------------------------------------------------------------
9. SOLE DISPOSITIVE POWER
1,642,491
--------------------------------------------------------------
10. SHARED DISPOSITIVE POWER
0
- --------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,642,491
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ]
N/A
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
30.39%
14. TYPE OF REPORTING PERSON
CO
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SCHEDULE 13D OF FINOVA MEZZANINE CAPITAL, INC.
WITH RESPECT TO SECURITIES OF TELTRONICS, INC.
Item 1. Security and Issuer
Common stock, par value $0.001 per share
Teltronics, Inc.
2150 Whitfield Industrial Way
Sarasota, FL 34243
Item 2. Identity and Background
This statement is being filed by Finova Mezzanine Capital,
Inc. ("Finova"), formerly known as Sirrom Capital Corporation, a Tennessee
corporation, which is engaged in the business of lending and investing in medium
sized businesses. Finova's principal business and office address is 500 Church
Street, Suite 200, Nashville, TN 37219. Finova has not been convicted of a
criminal proceeding during the last five years, nor has Finova during the last
five years been a party to any civil proceeding of a judicial or administrative
body of competent jurisdiction which resulted in a judgment, decree or final
order enjoining future violations of, or prohibiting or mandating activity
subject to, federal or state securities laws or finding any violation with
respect to such laws.
The executive officers and directors of Finova, and/or any person
controlling Finova, are identified below:
Its directors are Samuel L. Eichenfield, Robert M. Korte and David M.
Resha. Its executive officers are as follows:
Samuel L. Eichenfeld, Chairman and Chief Executive Officer
William J. Hallinan, Senior Vice President- General Counsel and
Secretary
Bruno A. Marszowski, Senior Vice President- Controller and Chief
Financial Officer
Meilee E. Smythe, Senior Vice President- Treasurer
Robert M. Korte, Executive Vice President
David M. Resha, Senior Vice President
Finova is a wholly-owned subsidiary of FINOVA Group, Inc. The executive
officers and principal place of business of FINOVA Group, Inc. are as
follows:
Samuel L. Eichenfeld, Chairman and Chief Executive Officer
Matthew M. Breyne, President
Derek C. Bruns, Senior Vice President- Internal Audit
William J. Hallinan, Senior Vice President- General Counsel and
Secretary
Bruno A. Marszowski, Senior Vice President- Controller and Chief
Financial Officer
William C. Roche, Senior Vice President- Human Resources and Facilities
Planning
Meilee E. Smythe, Senior Vice President- Treasurer
J. Chris Webster, Senior Vice President-Major Accounts Group
John J. Bonano, Executive Vice President- Commercial Finance Group
Jack Fields,III, Executive Vice President - Specialty Finance Group
Robert M.Korte, Executive Vice President - Capital Markets Group
Gregory C. Smalis, Executive Vice President, Portfolio Management
FINOVA Group, Inc.
4800 Scottsdale Road
Scottsdale, Arizona 85251
Page 3 of 5 Pages
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The directors of FINOVA Group,Inc., including their occupations and
businesses addresses are as follows:
Robert H. Clark, Jr.
Case, Pomeroy & Company, Inc.
529 5th Avenue, Suite 1600
New York, New York 10017-4608
Constance R. Curran
President and CEO
CurranCare
7222 West Cermak Road, Suite 200
North Riverside, Illinois 60546
G. Robert Durham
Retired Chairman and Chief Executive Officer
Walter Industries, Inc.
244 Carlyle Lake Drive
Crave Coeur, Missouri 60546
James L. Johnson
Chairman Emeritus and Director
GTE Corporation
1603 Cottonwood Valley Circle North
Irving, TX 75038
Kenneth R. Smith
Professor of Economics
McClelland Hall Room #430MM
The University of Arizona
Tuscon, Arizona 85721
Shoshana B. Tancer
Professor of International Studies
American Graduate School of International Management
5101 North 35th Street
Phoenix, Arizona 85018
John W. Teets
Chairman and CEO
J.W. Teets Enterprises, LLC
18850 N. Central Ave., Suite 600
Phoenix, Arizona 85077
None of the foregoing persons has been convicted in a criminal
proceeding during the last five years nor has any such person during the last
five years been a party to any civil proceeding of a judicial or administrative
body of competent jurisdiction which resulted in a judgment, decree or final
order enjoining future violations of, or prohibiting or mandating activities
subject to, federal or state securities laws or finding any violation with
respect to such laws.
Item 3. Source and Amount of Funds of Other Consideration.
Finova originally acquired shares of the Issuer's Series B Convertible
Preferred Stock (the "Series B Stock") and warrants to acquire shares of Common
Stock on February 26, 1998.
Page 4 of 5 Pages
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Item 4. Purpose of Transaction.
The purpose of the transaction was to provided working capital for the
Issuer. Finova has no present intentions of causing any of the acts or events
described in Item 4 of Schedule 13D. Until March 1999, Sirrom Capital
Corporation was an "Investment Company" under the Investment Company Act of 1940
and had previously filed a Schedule 13G with respect to the transaction
described herein. In connection with its acquisition by The FINOVA Group, Inc.,
Sirrom Capital Corporation changed its name to FINOVA Mezzanine Capital Inc. and
surrendered its Investment Company status.
Item 5. Interest in the Securities of the Issuer.
(a) Finova beneficially owns in the aggregate 1,642,491 shares of the
Issuer's common stock, consisting of (i) 293,400 shares of Common Stock, (ii)
459,091 shares of Common Stock receivable upon conversion of voting Series B
Convertible Preferred Stock and (iii) 890,000 shares of Common Stock receivable
upon exercise of warrants to purchase Common Stock. Finova beneficially owns
approximately 30.39% of the common stock of the Issuer, as determined in
accordance with Rule 13d-3(d)(1). Because the Issuer's Series B Convertible
Preferred Stock votes on an "as converted basis" with the common stock, Finova
has voting power equal to approximately 30.39% of the outstanding voting
securities of the Issuer without regard to any other security that is voted on
an as converted basis.
(b) Finova possesses sole voting and dispositive powers with respect to
all of the securities of the Issuer beneficially owned by it.
(c) not applicable
(d) Not applicable
(e) Not applicable
Item 6. Contracts, Arrangements, Understandings or Relationships with respect to
Securities of the Issuer.
There are no contracts, arrangements, understandings or relationships
among the persons named in Item 2 and between such persons and any person with
respect to any securities of the Issuer.
Item 7. Material to be Filed as Exhibits.
Not applicable.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Dated: February 14, 2000 By: /s/ John B. Burtchaell
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Name: John B. Burtchaell
Title: Vice President
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