-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Rtj4CReG7hQZ2KnaEzpUYvGmGDLdK0uvH4WPXslJ0Cu6kYidbMZyrMYCO8/FPZYB oUE1+mmBzqSJAz1clX6H6w== 0000950131-00-006951.txt : 20001229 0000950131-00-006951.hdr.sgml : 20001229 ACCESSION NUMBER: 0000950131-00-006951 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20001228 GROUP MEMBERS: FUJI AMERICA HOLDINGS, INC. GROUP MEMBERS: HELLER EQUITY CAPITAL CORPORATION GROUP MEMBERS: HELLER FINANCIAL INC GROUP MEMBERS: HELLER FINANCIAL, INC. GROUP MEMBERS: THE FUJI BANK, LIMITED SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: CAREER EDUCATION CORP CENTRAL INDEX KEY: 0001046568 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-EDUCATIONAL SERVICES [8200] IRS NUMBER: 393932190 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: SEC FILE NUMBER: 005-53623 FILM NUMBER: 797346 BUSINESS ADDRESS: STREET 1: 2895 GREENSPOINT STREET 2: SUITE 600 CITY: HOFFMAN ESTATES STATE: IL ZIP: 60195 BUSINESS PHONE: 8477813600 MAIL ADDRESS: STREET 1: 2800 WEST HIGGINS ROAD STREET 2: SUITE 790 CITY: HOFFMAN ESTATES STATE: IL ZIP: 60195 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: HELLER FINANCIAL INC CENTRAL INDEX KEY: 0000046738 STANDARD INDUSTRIAL CLASSIFICATION: SHORT-TERM BUSINESS CREDIT INSTITUTIONS [6153] IRS NUMBER: 361208070 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 500 W MONROE ST CITY: CHICAGO STATE: IL ZIP: 60661 BUSINESS PHONE: 3124417000 MAIL ADDRESS: STREET 1: 500 W MONROE ST CITY: CHICAGO STATE: IL ZIP: 60661 FORMER COMPANY: FORMER CONFORMED NAME: HELLER WALTER E & CO /NEW/ DATE OF NAME CHANGE: 19850503 SC 13D/A 1 0001.txt SCHEDULE 13D/A ----------------------------- OMB APPROVAL OMB Number: 3235-0145 Expires: October 31, 2002 Estimated average burden hours per response .... 14.90 ----------------------------- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. 7)* Career Education Corporation ________________________________________________________________________________ (Name of Issuer) common stock, par value $.01 per share ________________________________________________________________________________ (Title of Class of Securities) 141665 10 9 _______________________________________________________________ (CUSIP Number) Charles P. Brissman (312/441-6798) Heller Equity Capital Corporation, 500 W. Monroe St., Suite 1900, Chicago, Illinois 60661 ________________________________________________________________________________ (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) December 18, 2000 _______________________________________________________________ (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 that is the subject of this Schedule 13D, and is filing this schedule because of (S)(S)240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box [_]. Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See (S)240.13d-7 for other parties to whom copies are to be sent. * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. 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 ("Act") 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). Page 1 of 11 Pages No Exhibits CUSIP No. 141665 10 9 Page 2 of 11 - ------------------------------------------------------------------------------ NAMES OF REPORTING PERSONS. 1 I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only). The Fuji Bank, Limited - ------------------------------------------------------------------------------ CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) 2 (a) [_] (b) [X] - ------------------------------------------------------------------------------ SEC USE ONLY 3 - ------------------------------------------------------------------------------ SOURCE OF FUNDS (See Instructions) 4 not applicable - ------------------------------------------------------------------------------ CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) 5 not applicable - ------------------------------------------------------------------------------ CITIZENSHIP OR PLACE OF ORGANIZATION 6 Japan - ------------------------------------------------------------------------------ SOLE VOTING POWER 7 NUMBER OF none SHARES ----------------------------------------------------------- SHARED VOTING POWER BENEFICIALLY 8 none OWNED BY ----------------------------------------------------------- EACH SOLE DISPOSITIVE POWER 9 REPORTING none PERSON ----------------------------------------------------------- SHARED DISPOSITIVE POWER WITH 10 none - ------------------------------------------------------------------------------ AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 11 none - ------------------------------------------------------------------------------ CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES 12 (See Instructions) X - ------------------------------------------------------------------------------ PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 13 0% - ------------------------------------------------------------------------------ TYPE OF REPORTING PERSON (See Instructions) 14 BK - ------------------------------------------------------------------------------ CUSIP No. 141665 10 9 Page 3 of 11 - ------------------------------------------------------------------------------ NAMES OF REPORTING PERSONS. 1 I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only). Fuji America Holdings, Inc. (36-4200926) - ------------------------------------------------------------------------------ CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) 2 (a) [_] (b) [X] - ------------------------------------------------------------------------------ SEC USE ONLY 3 - ------------------------------------------------------------------------------ SOURCE OF FUNDS (See Instructions) 4 not applicable - ------------------------------------------------------------------------------ CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) 5 not applicable - ------------------------------------------------------------------------------ CITIZENSHIP OR PLACE OF ORGANIZATION 6 Delaware, United States of America - ------------------------------------------------------------------------------ SOLE VOTING POWER 7 NUMBER OF none SHARES ----------------------------------------------------------- SHARED VOTING POWER BENEFICIALLY 8 none OWNED BY ----------------------------------------------------------- EACH SOLE DISPOSITIVE POWER 9 REPORTING none PERSON ----------------------------------------------------------- SHARED DISPOSITIVE POWER WITH 10 none - ------------------------------------------------------------------------------ AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 11 none - ------------------------------------------------------------------------------ CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES 12 (See Instructions) X - ------------------------------------------------------------------------------ PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 13 0% - ------------------------------------------------------------------------------ TYPE OF REPORTING PERSON (See Instructions) 14 HC, CO - ------------------------------------------------------------------------------ CUSIP No. 141665 10 9 Page 4 of 11 - ------------------------------------------------------------------------------ NAMES OF REPORTING PERSONS. 1 I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only). Heller Financial, Inc. (36-1208070) - ------------------------------------------------------------------------------ CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) 2 (a) [_] (b) [X] - ------------------------------------------------------------------------------ SEC USE ONLY 3 - ------------------------------------------------------------------------------ SOURCE OF FUNDS (See Instructions) 4 not applicable - ------------------------------------------------------------------------------ CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) 5 not applicable - ------------------------------------------------------------------------------ CITIZENSHIP OR PLACE OF ORGANIZATION 6 Delaware, United States of America - ------------------------------------------------------------------------------ SOLE VOTING POWER 7 NUMBER OF none SHARES ----------------------------------------------------------- SHARED VOTING POWER BENEFICIALLY 8 none OWNED BY ----------------------------------------------------------- EACH SOLE DISPOSITIVE POWER 9 REPORTING none PERSON ----------------------------------------------------------- SHARED DISPOSITIVE POWER WITH 10 none - ------------------------------------------------------------------------------ AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 11 none - ------------------------------------------------------------------------------ CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES 12 (See Instructions) X - ------------------------------------------------------------------------------ PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 13 0% - ------------------------------------------------------------------------------ TYPE OF REPORTING PERSON (See Instructions) 14 CO - ------------------------------------------------------------------------------ CUSIP No. 141665 10 9 Page 5 of 11 - ------------------------------------------------------------------------------ NAMES OF REPORTING PERSONS. 1 I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only). Heller Equity Capital Corporation (13-3055750) - ------------------------------------------------------------------------------ CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) 2 (a) [_] (b) [X] - ------------------------------------------------------------------------------ SEC USE ONLY 3 - ------------------------------------------------------------------------------ SOURCE OF FUNDS (See Instructions) 4 not applicable - ------------------------------------------------------------------------------ CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) 5 not applicable - ------------------------------------------------------------------------------ CITIZENSHIP OR PLACE OF ORGANIZATION 6 Delaware, United States of America - ------------------------------------------------------------------------------ SOLE VOTING POWER 7 NUMBER OF 1,521,014 SHARES ----------------------------------------------------------- SHARED VOTING POWER BENEFICIALLY 8 none OWNED BY ----------------------------------------------------------- EACH SOLE DISPOSITIVE POWER 9 REPORTING 1,521,014 PERSON ----------------------------------------------------------- SHARED DISPOSITIVE POWER WITH 10 none - ------------------------------------------------------------------------------ AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 11 1,521,014 - ------------------------------------------------------------------------------ CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES 12 (See Instructions) not applicable - ------------------------------------------------------------------------------ PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 13 7.5% - ------------------------------------------------------------------------------ TYPE OF REPORTING PERSON (See Instructions) 14 CO - ------------------------------------------------------------------------------ CUSIP No. 141665 10 9 Page 6 of 11 ADDENDUM TO COVER PAGES ----------------------- This Amendment Number 7 to Schedule 13D (this "Amendment No. 7") is filed by The Fuji Bank, Limited, a Japanese banking corporation ("Fuji"), Fuji America Holdings, Inc., a Delaware corporation which is a wholly-owned subsidiary of Fuji ("FAHI"), Heller Financial, Inc., a Delaware corporation which is a majority-owned subsidiary of FAHI ("HFI"), and Heller Equity Capital Corporation, a Delaware corporation which is a wholly-owned subsidiary of HFI ("HECC"). On February 3, 1998, Career Education Corporation, a Delaware corporation of which HECC was then the majority stockholder (the "Company"), consummated an initial public offering (the "IPO") of its common stock, par value $.01 per share (the "Common Stock"). In connection with the consummation of the IPO, the Company registered the Common Stock under Section 12 of the Securities Exchange Act of 1934, as amended (the "Act"). Consequently, HECC became the owner of in excess of five percent of a class of equity security (the Common Stock) registered under Section 12 of the Act. Accordingly, Fuji, FAHI, HFI and HECC filed a Schedule 13D with respect to the Common Stock (the "Initial Schedule 13D") electronically with the Securities and Exchange Commission (the "Commission") on February 23, 1998. On January 19, 1999, the Company filed with the Commission a Registration Statement on Form S-1 (registration number 333-70747) for a secondary offering (the "1999 Secondary Offering") of the Common Stock in which HECC proposed to sell up to 1,086,937 shares of the Common Stock it then owned. An amendment ("Amendment No. 1") to the Initial Schedule 13D was filed electronically with the Commission on January 17, 1999 in connection with the filing of that registration statement. The registration statement was declared effective by the Commission on March 17, 1999. The Company completed the 1999 Secondary Offering on March 23, 1999, with HECC selling 987,937 shares of Common Stock. An amendment ("Amendment No. 2") to the Initial Schedule 13D (as theretofore amended) was filed electronically with the Commission on March 30, 1999 reflecting that change in HECC's beneficial ownership. On December 8, 1999, HECC awarded 1,500 shares of the Common Stock it then owned to one of its officers as incentive compensation. An amendment ("Amendment No. 3") to the Initial Schedule 13D (as theretofore amended) was filed electronically with the Commission on January 7, 2000 reporting that change in HECC's beneficial ownership. On March 29, 2000, the Company filed with the Commission a Registration Statement on Form S-3 (registration number 333-33550) for a secondary offering (the "2000 Secondary Offering") of the Common Stock in which HECC proposed to sell up to 500,000 shares of the Common Stock it then owned. An amendment ("Amendment No. 4") to the Initial Schedule 13D (as theretofore amended) was filed electronically with the Commission on April 4, 2000 in connection with the filing of that registration statement. The registration statement was declared effective by the Commission on May 4, 2000. The Company completed the 2000 Secondary Offering on May 10, 2000, with HECC selling 500,000 shares of Common Stock. An amendment ("Amendment No. 5") to the initial Schedule 13D (as theretofore amended) was filed electronically with the Commission on May 16, 2000 reporting that change in HECC's beneficial ownership. CUSIP No. 141665 10 9 Page 7 of 11 An amendment ("Amendment No. 6") to the Initial Schedule 13D (as theretofore amended) was filed electronically with the Commission on December 8, 2000 to reflect changes in HECC's beneficial ownership as a result of sales by HECC of 477,500 shares of Common Stock in open market transactions in November and December 2000. This Amendment No. 7 is being filed to reflect changes in HECC's beneficial ownership as a result of sales by HECC of an additional 122,500 shares of Common Stock in open market transactions in December 2000. As was the case with the Initial Schedule 13D and Amendment Nos. 1, 2, 3, 4, 5 and 6, Fuji, FAHI and HFI join HECC in filing this Amendment No. 7 solely because of their status as indirect parent companies (in the cases of Fuji and FAHI) and direct parent company (in the case of HFI) of HECC. Fuji, FAHI and HFI declare that the filing of this Amendment No. 7 is not an admission by Fuji, FAHI or HFI that it is the beneficial owner of any of the Company's securities for purposes of Sections 13(d) or 13(g) of the Act, and Fuji, FAHI and HFI expressly disclaim beneficial ownership of any of the Company's securities. Item 1. Security and Issuer ------------------- Item 1 is not amended or supplemented. Item 2. Identity and Background ----------------------- Item 2 is not amended or supplemented. Item 3. Source and Amount of Funds or Other Consideration ------------------------------------------------- Item 3 is amended to read in its entirety as follows: Prior to the consummation of the IPO, the Company's authorized capital stock consisted of four classes of common stock and three classes of preferred stock. None of these classes of was registered under Section 12 of the Act. HECC owned shares of two classes of the Company's common stock (as well as warrants to purchase shares of a third class of the Company's common stock) and two classes of the Company's preferred stock. In connection with the consummation of the IPO on February 3, 1998, (a) the Company amended its Amended and Restated Certificate of Incorporation to provide, among other things, for: (i) only two classes of authorized capital stock, the Common Stock and a new class of preferred stock; (ii) the conversion of all outstanding shares of the Company's common stock into shares of Common Stock at the rate of 9.376061 shares of Common Stock for each share of previously-outstanding common stock; and CUSIP No. 141665 10 9 Page 8 of 11 (iii) the conversion of all outstanding shares of the Company's preferred stock (including any cumulated or accrued paid-in-kind dividends thereon) into shares of Common Stock at a rate determined by dividing the liquidation value of such shares of preferred stock (including the liquidation value of any cumulated or accrued paid-in- kind dividends thereon) by $16.00 (the initial public offering price of Common Stock), (b) all outstanding warrants (other than warrants held by a former lender to the Company) to purchase shares of the Company's previously-existing classes of common stock were exercised for shares of Common Stock and (c) HECC transferred 147,383 shares of Common Stock to certain of its former employees (the transactions described in (a), (b) and (c), collectively, the "Transactions"). The Transactions resulted in HECC's owning 2,549,944 shares of Common Stock. HECC paid no separate consideration for these shares of Common Stock. In connection with the consummation of the 1999 Secondary Offering, HECC sold 987,937 shares of the Common Stock it then owned and received net proceeds of $27,074,413.48 in cash. HECC paid a total of $1,575,760.00 in discounts and commissions to the underwriters of the 1999 Secondary Offering. In December 1999, HECC awarded 1,500 shares of the Common Stock it then owned to one of its employees as incentive compensation. The employee did not pay, and HECC did not receive, any monetary consideration for the award. In connection with the consummation of the 2000 Secondary Offering, HECC sold 500,000 shares of the Common Stock it then owned and received net proceeds of $15,355,000.00. HECC paid a total of $895,000.00 in discounts and commissions to the underwriters of the 2000 Secondary Offering. The Company effected a 2-for-1 stock split in August 2000. As reported in Amendment No. 6, HECC sold a total of 477,500 shares of Common Stock in open market transactions between November 6 and December 6, 2000, which yielded $15,698,909.36 in gross proceeds to HECC. HECC paid a total of $7,470.34 in brokerage commissions in connection with these transactions. Since December 6, 2000, HECC has sold an additional 122,500 shares of Common Stock, which yielded an additional $4,509,554.50 in gross proceeds to HECC. He paid an additional $150.39 in brokerage commissions in connection with these latest transactions. Item 4. Purpose of Transaction ---------------------- Item 4 is not amended or supplemented. CUSIP No. 141665 10 9 Page 9 of 11 Item 5. Interest in Securities of the Issuer ------------------------------------ Subparagraphs (a), (b) and (c) of Item 5 are amended to read in their entirety as follows: (a) According to the Company's Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2000, the Company had 20,304,992 outstanding shares of Common Stock on November 3, 2000. HECC beneficially owns 1,521,014 shares of Common Stock, or 7.5% of the outstanding Common Stock. (b) HECC has the sole power to vote or to direct the vote of, and the sole power to dispose of or to direct the disposition of, 1,521,014 shares of Common Stock. (c) Since December 6, 2000 (the date of the last sale reported in Amendment No. 6), HECC has sold a total of 122,500 shares of Common Stock in open market transactions on the Nasdaq National Market pursuant to Rule 144 under the Securities Act of 1933, as amended. The individual sale transactions are summarized below:
- ----------------------------------------------------------------------------------------- DATE SHARES SOLD SALE PRICE - ----------------------------------------------------------------------------------------- 12/08/00 5,000 $ 37.00 - ----------------------------------------------------------------------------------------- 12/08/00 5,000 $ 37.125 - ----------------------------------------------------------------------------------------- 12/11/00 12,500 $ 36.875 - ----------------------------------------------------------------------------------------- 12/11/00 2,500 $ 37.00 - ----------------------------------------------------------------------------------------- 12/11/00 10,000 $ 37.125 - ----------------------------------------------------------------------------------------- 12/11/00 5,000 $ 37.50 - ----------------------------------------------------------------------------------------- 12/11/00 5,000 $ 38.00 - ----------------------------------------------------------------------------------------- 12/12/00 5,000 $38.1875 - ----------------------------------------------------------------------------------------- 12/12/00 7,500 $ 37.875 - ----------------------------------------------------------------------------------------- 12/12/00 2,500 $ 37.00 - ----------------------------------------------------------------------------------------- 12/12/00 5,000 $ 36.875 - ----------------------------------------------------------------------------------------- 12/12/00 10,000 $ 36.75 - ----------------------------------------------------------------------------------------- 12/13/00 2,500 $36.5625 - ----------------------------------------------------------------------------------------- 12/13/00 2,500 $ 36.375 - ----------------------------------------------------------------------------------------- 12/13/00 2,500 $36.0625 - ----------------------------------------------------------------------------------------- 12/13/00 2,500 $ 36.125 - ----------------------------------------------------------------------------------------- 12/13/00 5,000 $ 36.00 - ----------------------------------------------------------------------------------------- 12/14/00 2,500 $35.9375 - ----------------------------------------------------------------------------------------- 12/14/00 5,000 $ 35.875 - ----------------------------------------------------------------------------------------- 12/15/00 5,000 $ 35.50 - ----------------------------------------------------------------------------------------- 12/15/00 5,000 $ 35.625 - ----------------------------------------------------------------------------------------- 12/15/00 5,000 $ 36.00 - ----------------------------------------------------------------------------------------- 12/15/00 5,000 $ 36.75 - ----------------------------------------------------------------------------------------- 12/18/00 3,000 $37.4375 - ----------------------------------------------------------------------------------------- 12/18/00 2,000 $ 37.25 - -----------------------------------------------------------------------------------------
CUSIP No. 141665 10 9 Page 10 of 11 Item 6. Contracts, Arrangements, Understandings or Relationship With Respect to Securities of the Issuer ----------------------------------------------------------------------- Item 6 not amended or supplemented. Item 7. Material to be Filed as Exhibits -------------------------------- Item 7 is not amended or supplemented. [signature page follows] CUSIP No. 141665 10 9 Page 11 of 11 SIGNATURES ---------- After reasonable inquiry, and to the best of our knowledge and belief, we certify that the information set forth in this statement is true, complete and correct. December 28, 2000 THE FUJI BANK, LIMITED By: /s/ ----------------------------- Charles P. Brissman Attorney-in-Fact (under Power of Attorney filed as Exhibit 5 to the Initial Schedule 13D) FUJI AMERICA HOLDINGS, INC. By: /s/ ----------------------------- Kristin M. Deering Assistant Secretary HELLER FINANCIAL, INC. By: /s/ ----------------------------- Renee M. Rempe Vice President HELLER EQUITY CAPITAL CORPORATION By: /s/ ----------------------------- Renee M. Rempe Assistant Vice President -----END PRIVACY-ENHANCED MESSAGE-----