THERMO ELECTRON CORP
SC 13D/A, 1999-04-29
MEASURING & CONTROLLING DEVICES, NEC
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                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                  SCHEDULE 13D

                    Under the Securities Exchange Act of 1934

                                (Amendment No. 2)

                             ThermoLase Corporation

                                (Name of Issuer)

     Units, each consisting of one share of Common Stock, par value $.01 per
                         share, and one Redemption Right
 ------------------------------------------------------------------------------
                         (Title of Class of Securities)

                                   883624-20-7
                                 (CUSIP Number)

                             Seth H. Hoogasian, Esq.
                                 General Counsel
                                  (781)622-1000

                           Thermo Electron Corporation
                                 81 Wyman Street
                             Waltham, MA 02454-9046
- ------------------------------------------------------------------------------
 (Name, Address and Telephone Number of Person Authorized to Receive Notices
                             and Communications)

                                April 27, 1999
           (Date of Event which Requires Filing of this Statement)

     If the filing  person has  previously  filed a statement on Schedule 13G to
report the acquisition  which 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 [ ].
- ------------------------------------------------------------------------------






<PAGE>


- -------------------------------------------------------------------------------
            1              NAME OF REPORTING PERSON
                           I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
                           Thermo Electron Corporation
                           IRS No. 04-2209186
- ---------------------------
- -------------------------------------------------------------------------------
            2              CHECK THE APPROPRIATE BOX IF A MEMBER OF A
                           GROUP*

- ---------------------------
- ---------------------------
                                                                       (a) [   ]
                                                                       (b) [ x ]
- -------------------------------------------------------------------------------
- ---------------------------
            3              SEC USE ONLY
- -------------------------------------------------------------------------------
            4              SOURCE OF FUNDS*


                           WC
- ---------------------------
- -------------------------------------------------------------------------------
            5              CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS
                           IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
                                                                           [   ]
- -------------------------------------------------------------------------------
- ---------------------------
            6              CITIZENSHIP OR PLACE OF ORGANIZATION


                           State of Delaware
- -------------------------------------------------------------------------------
 NUMBER OF SHARES     7    SOLE VOTING POWER
   BENEFICIALLY
  OWNED BY EACH
 REPORTING PERSON          1,352,793
       WITH
- -------------------------------------------------------------------------------
                      8    SHARED VOTING POWER


                           0
- -------------------------------------------------------------------------------
                      9    SOLE DISPOSITIVE POWER


                           1,352,793
- -------------------------------------------------------------------------------
                     10    SHARED DISPOSITIVE POWER


                           0
- -------------------------------------------------------------------------------


<PAGE>


- -------------------------------------------------------------------------------
            11             AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH 
                           REPORTING PERSON

                           1,352,793
- ---------------------------
- -------------------------------------------------------------------------------
            12             CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11
                           EXCLUDES CERTAIN SHARES*                        [   ]
- -------------------------------------------------------------------------------
- ---------------------------
            13             PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11


                           67.6%
- -------------------------------------------------------------------------------
            14             TYPE OF REPORTING PERSON *

                           CO
- -------------------------------------------------------------------------------


<PAGE>


      Thermo  Electron  Corporation  hereby amends its statement on Schedule 13D
relating  to the units  (the  "Units")  issued by  ThermoLase  Corporation  (the
"Issuer"),  each Unit consisting of one share of the Issuer's common stock,  par
value $0.01 per share (the "Common  Stock"),  and one redemption  right,  as set
forth below.

     Item 2. Identity and Background

     The  first  paragraph  of Item 2 is  hereby  amended  and  restated  in its
entirety as follows:

     This  Amendment  is  being  filed  by  Thermo  Electron   Corporation  (the
"Reporting  Person"),  pursuant to Rule 13d-2, to reflect to reflect an increase
in the Reporting  Person's  holdings of the Units since the  Reporting  Person's
last filing on Schedule 13D, on April 27, 1999.

     Item 3. Source and Amount of Funds or Other Consideration.

     The first two sentences of Item 3 are hereby  amended and restated in their
entirety as follows:

     The Reporting  Person has expended  approximately  $5,389,000 in purchasing
Units since the date of its last filing on Schedule  13D.  These funds were paid
out of the Reporting Person's working capital.

     Item 5. Interest in Securities of the Issuer.

     Items 5(a) and (c) are hereby  amended and  restated  in their  entirety as
follows:

     (a)  The  Reporting   Person   beneficially   owns  1,352,793   Units,   or
approximately  67.6% of the outstanding Units. To the knowledge of the Reporting
Person,  Mr. Robert A. McCabe, a director of the Reporting  Person,  is the sole
executive  officer or director of the  Reporting  Person who  beneficially  owns
Units.  Mr. McCabe owns 831 Units,  or  approximately  0.04% of the  outstanding
Units.  Beneficial  ownership of the Common Stock by the executive  officers and
directors of the Reporting Person is reported separately in Schedule 13D filings
by the Reporting Person relating to its ownership of the Common Stock.

     While certain directors and executive  officers of the Reporting Person are
also directors and officers of the Issuer, all such persons disclaim  beneficial
ownership of the Units owned by the Reporting Person.
<PAGE>

     (b) The  Reporting  Person has effected  the  following  transactions  with
respect to the Units since the date of its last filing on Schedule 13D:

Date              Amount          Price Per           Transfer Type
                                   Unit

04/27/99          32,799           $17.65         Open Market Purchase
04/27/99          34,643           $17.70         Open Market Purchase
04/28/99         235,790           $17.75         Open Market Purchase


To the knowledge of the Reporting Person,  the executive  officers and directors
of the  Reporting  Person have effected no  transactions  in the Units since the
date of the Reporting Person's last filing on Schedule 13D.



<PAGE>


Signature

      After reasonable  inquiry and to the best of its knowledge and belief, the
Reporting  Person  certifies that the information set forth in this statement is
true, complete and correct.


Date: April 29, 1999                         THERMO ELECTRON CORPORATION


                                             By:  /s/ Theo Melas-Kyriazi
                                                  ------------------------------
                                                  Theo Melas-Kyriazi
                                                  Vice President and Chief 
                                                  Financial Officer










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