-----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, BiCHuTjzifCihC+G5jxST+k9s9PQY65wx1WpTNC/ekO+Ika3QUc5tS/wqLReTi31 m8tFWU/Ih3YkWm8hQj9SVA== 0000889812-99-003634.txt : 19991213 0000889812-99-003634.hdr.sgml : 19991213 ACCESSION NUMBER: 0000889812-99-003634 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19991210 GROUP MEMBERS: JOHN F. BARRY GROUP MEMBERS: PROSPECT STREET CO-INVESTMENT FUND, LLC GROUP MEMBERS: PROSPECT STREET DISCOVERY FUND, INC. GROUP MEMBERS: PROSPECT STREET NYC CO-INVESTMENT FUND, L.P. GROUP MEMBERS: PROSPECT STREET NYC DISCOVERY FUND LP SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: 24/7 MEDIA INC CENTRAL INDEX KEY: 0001062195 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-ADVERTISING [7310] IRS NUMBER: 133995672 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G SEC ACT: SEC FILE NUMBER: 005-54665 FILM NUMBER: 99771897 BUSINESS ADDRESS: STREET 1: 1250 BROADWAY STREET 2: 27TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10001 BUSINESS PHONE: 2122317100 MAIL ADDRESS: STREET 1: 1250 BROADWAY CITY: NEW YORK STATE: NY ZIP: 10001 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: PROSPECT STREET NYC DISCOVERY FUND LP CENTRAL INDEX KEY: 0001026687 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] IRS NUMBER: 133879548 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: 10 EAST 40TH STREET STREET 2: 44TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10116 BUSINESS PHONE: 2124480702124480702 MAIL ADDRESS: STREET 1: 10 EAST 40TH STREET STREET 2: 44TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10116 SC 13G 1 STATEMENT OF BENEFICIAL OWNERSHIP CUSIP No. 901314 10 4 ------------------------------ OMB APPROVAL ------------------------------ OMB Number: 3235-0145 Expires: August 31, 1999 Estimated average burden hours per response......14.90 ------------------------------ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. ____)* 24/7 Media Inc. - ------------------------------------------------------------------------------- (Name of Issuer) Common Stock, $.01 par value - ------------------------------------------------------------------------------- (Title of Class of Securities) 901314 10 4 ---------------------------------------- (CUSIP Number) December 31, 1998 - ------------------------------------------------------------------------------- (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: / / Rule 13d-1(b) /X/ Rule 13d-1(c) / / Rule 13d-1(d) *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 the disclosures provided in a prior cover page. The information required in 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 14 CUSIP No. 901314 10 4 1. Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only). Prospect Street Discovery Fund, Inc. ; 13-3879550 - ------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) (b) X - Joint Filing - ------------------------------------------------------------------------------- 3. SEC Use Only - ------------------------------------------------------------------------------- 4. Citizenship or Place of Organization DE Corporation - ------------------------------------------------------------------------------- Number of Shares 5. Sole Voting Power Beneficially Owned ---------------------------------------------------- by Each Reporting 6. Shared Voting Power 1,313,027 Person With: ---------------------------------------------------- 7. Sole Dispositive Power ---------------------------------------------------- 8. Shared Dispositive Power 1,313,027 - ------------------------------------------------------------------------------- 9. Aggregate Amount Beneficially Owned by Each Reporting Person 1,313,027 - ------------------------------------------------------------------------------- 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) - ------------------------------------------------------------------------------- 11. Percent of Class Represented by Amount in Row (9) 5.9% - ------------------------------------------------------------------------------- 12. Type of Reporting Person (See Instructions) CO - ------------------------------------------------------------------------------- - ------------------------------------------------------------------------------- - ------------------------------------------------------------------------------- - ------------------------------------------------------------------------------- - ------------------------------------------------------------------------------- - ------------------------------------------------------------------------------- - ------------------------------------------------------------------------------- - ------------------------------------------------------------------------------- Page 2 of 14 pages - ------------------------------------------------------------------------------- 1. Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only). Prospect Street NYC Discovery Fund, L.P.; 13-3879548 - ------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) (b) X - Joint Filing - ------------------------------------------------------------------------------- 3. SEC Use Only - ------------------------------------------------------------------------------- 4. Citizenship or Place of Organization DE Limited Partnership - ------------------------------------------------------------------------------- Number of Shares 5. Sole Voting Power 1,313,027 Beneficially Owned ---------------------------------------------------- by Each Reporting 6. Shared Voting Power Person With: ---------------------------------------------------- 7. Sole Dispositive Power 1,313,027 ---------------------------------------------------- 8. Shared Dispositive Power - ------------------------------------------------------------------------------- 9. Aggregate Amount Beneficially Owned by Each Reporting Person 1,313,027 - ------------------------------------------------------------------------------- 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) - ------------------------------------------------------------------------------- 11. Percent of Class Represented by Amount in Row (9) 5.9% - ------------------------------------------------------------------------------- 12. Type of Reporting Person (See Instructions) PN - ------------------------------------------------------------------------------- - ------------------------------------------------------------------------------- - ------------------------------------------------------------------------------- - ------------------------------------------------------------------------------- - ------------------------------------------------------------------------------- - ------------------------------------------------------------------------------- - ------------------------------------------------------------------------------- - ------------------------------------------------------------------------------- Page 3 of 14 pages - ------------------------------------------------------------------------------- 1. Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only). Prospect Street NYC Co-Investment Fund, L.P.; 13-3968153 - ------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) (b) X - Joint Filing - ------------------------------------------------------------------------------- 3. SEC Use Only - ------------------------------------------------------------------------------- 4. Citizenship or Place of Organization DE Limited Partnership - ------------------------------------------------------------------------------- Number of Shares 5. Sole Voting Power 437,676 Beneficially Owned ---------------------------------------------------- by Each Reporting 6. Shared Voting Power Person With: ---------------------------------------------------- 7. Sole Dispositive Power 437,676 ---------------------------------------------------- 8. Shared Dispositive Power - ------------------------------------------------------------------------------- 9. Aggregate Amount Beneficially Owned by Each Reporting Person 437,676 - ------------------------------------------------------------------------------- 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) - ------------------------------------------------------------------------------- 11. Percent of Class Represented by Amount in Row (9) 2.0% - ------------------------------------------------------------------------------- 12. Type of Reporting Person (See Instructions) PN - ------------------------------------------------------------------------------- - ------------------------------------------------------------------------------- - ------------------------------------------------------------------------------- - ------------------------------------------------------------------------------- - ------------------------------------------------------------------------------- - ------------------------------------------------------------------------------- - ------------------------------------------------------------------------------- - ------------------------------------------------------------------------------- Page 4 of 14 pages - ------------------------------------------------------------------------------- 1. Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only). Prospect Street Co-Investment Fund, LLC; 04-3416259 - ------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) (b) X - Joint Filing - ------------------------------------------------------------------------------- 3. SEC Use Only - ------------------------------------------------------------------------------- 4. Citizenship or Place of Organization DE Limited Liability Company - ------------------------------------------------------------------------------- Number of Shares 5. Sole Voting Power Beneficially Owned ---------------------------------------------------- by Each Reporting 6. Shared Voting Power 437,676 Person With: ---------------------------------------------------- 7. Sole Dispositive Power ---------------------------------------------------- 8. Shared Dispositive Power 437,676 - ------------------------------------------------------------------------------- 9. Aggregate Amount Beneficially Owned by Each Reporting Person 437,676 - ------------------------------------------------------------------------------- 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) - ------------------------------------------------------------------------------- 11. Percent of Class Represented by Amount in Row (9) 2.0% - ------------------------------------------------------------------------------- 12. Type of Reporting Person (See Instructions) OO - ------------------------------------------------------------------------------- - ------------------------------------------------------------------------------- - ------------------------------------------------------------------------------- - ------------------------------------------------------------------------------- - ------------------------------------------------------------------------------- - ------------------------------------------------------------------------------- - ------------------------------------------------------------------------------- - ------------------------------------------------------------------------------- Page 5 of 14 pages - ------------------------------------------------------------------------------- 1. Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only). John F. Barry - ------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) (b) X - Joint Filing - ------------------------------------------------------------------------------- 3. SEC Use Only - ------------------------------------------------------------------------------- 4. Citizenship or Place of Organization United States - ------------------------------------------------------------------------------- Number of Shares 5. Sole Voting Power 4,688 Beneficially Owned ---------------------------------------------------- by Each Reporting 6. Shared Voting Power 1,750,703 Person With: ---------------------------------------------------- 7. Sole Dispositive Power 4,688 ---------------------------------------------------- 8. Shared Dispositive Power 1,750,703 - ------------------------------------------------------------------------------- 9. Aggregate Amount Beneficially Owned by Each Reporting Person 1,755,391 - ------------------------------------------------------------------------------- 10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) - ------------------------------------------------------------------------------- 11. Percent of Class Represented by Amount in Row (9) 7.9% - ------------------------------------------------------------------------------- 12. Type of Reporting Person (See Instructions) IN - ------------------------------------------------------------------------------- - ------------------------------------------------------------------------------- - ------------------------------------------------------------------------------- - ------------------------------------------------------------------------------- - ------------------------------------------------------------------------------- - ------------------------------------------------------------------------------- - ------------------------------------------------------------------------------- - ------------------------------------------------------------------------------- - ------------------------------------------------------------------------------- Page 6 of 14 pages CUSIP No. 901314 10 4 Item 1(a): Name of Issuer:... 24/7 Media, Inc. Item 1(b): Address of Issuer's Principal Executive Offices: 1250 Broadway New York, NY 10001 Item 2(a): Name of Persons Filing: Prospect Street Discovery Fund, Inc. Prospect Street Co-Investment Fund, LLC Prospect Street NYC Discovery Fund, L.P. Prospect Street NYC Co-Investment Fund, L.P. John F. Barry Item 2(b): Address of Principal Business Office: The principal business offices of Prospect Street Discovery Fund, Inc., Prospect Street Co-Investment Fund, LLC, Prospect Street NYC Discovery Fund, L.P., Prospect Street NYC Co-Investment Fund, L.P. and John F. Barry are located at 10 E. 40th Street, 44th Floor, New York, New York 10016. Item 2(c): Citizenship: See Item 4 of Cover Pages Item 2(d): Title of Class of Securities: Common Stock, $.01 par value Item 2(e): Cusip Number: 901314-10-4 Item 3: Information if statement filed pursuant to Rules 13d-1(b) or 13d-2(b): Not Applicable Item 4(a): Amount Beneficially Owned as of December 31, 1998: John F. Barry directly holds 4,688 shares. Mr. Barry is the sole shareholder of Prospect Street Discovery Fund, Inc. Prospect Street Discovery Fund, Inc. is the general partner of Prospect Street NYC Discovery Fund, L.P., which holds 1,313,027 shares. Mr. Barry is the sole member of Prospect Street Co-Investment Fund, LLC. Prospect Street Co-Investment Fund, LLC is the general partner of Prospect Street NYC Co-Investment Fund, L.P., which holds 437,676 shares. Mr. Barry disclaims beneficial ownership of the shares held by any of these entities. Page 7 of 14 pages CUSIP No. 901314 10 4 Item 4(b): Percent of Class: See Item 11 of Cover Pages Item 4(c): Number of Shares to which such person has: (i) Sole power to vote or to direct the vote: See Item 5 of Cover Pages (ii) Shared power to vote or direct the vote: See Item 6 of Cover Pages (iii) Sole power to dispose or to direct the See Item 7 of Cover Pages disposition of: (iv) Shared power to dispose or to direct the See Item 8 of Cover Pages disposition of:
Item 5: Ownership of 5% or Less of a Class: Not Applicable If this statement is being filed to report the fact as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following: ( ). Item 6: Ownership of more than 5% on Behalf of Another Person. Not Applicable Item 7: Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company: Not Applicable Item 8: Identification and Classification of Members of the Group: Not Applicable Item 9: Notice of Dissolution of Group: Not Applicable * * * * * Page 8 of 14 pages CUSIP No. 901314 10 4 By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. 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: December 9, 1999 Prospect Street NYC Discovery Fund, L.P. BY: Prospect Street Discovery Fund, its Inc., general partner By: -------------------------------------------- John F. Barry President Prospect Street Co-Investment Fund, LLC By: -------------------------------------------- John F. Barry Managing Member Prospect Street Discovery Fund, Inc. By: -------------------------------------------- John F. Barry President Prospect Street NYC Co-Investment Fund, L.P. By: Prospect Street Co-Investment Fund, LLC, its general partner By: -------------------------------------------- John F. Barry Managing Member -------------------------------------------- John F. Barry Page 9 of 14 pages CUSIP No. 901314 10 4 Exhibit Index ------------- Exhibit I Statement of Prospect Street Co-Investment Fund, LLC. Exhibit II Statement of Prospect Street Discovery Fund, Inc. Exhibit III Statement of Prospect Street NYC Co-Investment Fund, L.P. Exhibit IV Statement of John F. Barry disclaiming beneficial ownership to shares held by Prospect Street Discovery Fund, Inc., Prospect Street Co-Investment Fund, LLC, Prospect Street NYC Discovery Fund, L.P. and Prospect Street NYC Co-Investment Fund, L.P. Page 10 of 14 pages CUSIP No. 901314 10 4 Exhibit I to Schedule 13G Under the Securities Exchange Act of 1934 Pursuant to Rule 13d-1(f)(1), Prospect Street Co-Investment Fund, LLC affirms it is individually eligible to use Schedule 13G and agrees that this Schedule is filed on its behalf. Prospect Street Co-Investment Fund, LLC By: ------------------------------------ John F. Barry Managing Member Dated: December 9, 1999 Page 11 of 14 pages CUSIP No. 901314 10 4 Exhibit II to Schedule 13G Under the Securities Exchange Act of 1934 Pursuant to Rule 13d-1(f)(1), Prospect Street Discovery Fund, Inc. affirms it is individually eligible to use Schedule 13G and agrees that this Schedule is filed on its behalf. Prospect Street Discovery Fund, Inc. By: ------------------------------------- John F. Barry President Dated: December 9, 1999 Page 12 of 14 pages CUSIP No. 901314 10 4 Exhibit III to Schedule 13G Under the Securities Exchange Act of 1934 Pursuant to Rule 13d-1(f)(1), Prospect Street NYC Co-Investment Fund, L.P. affirms it is individually eligible to use Schedule 13G and agrees that this Schedule is filed on its behalf. Prospect Street NYC Co-Investment Fund, L.P. By: Prospect Street Co-Investment Fund, LLC, its general partner By: ----------------------------------------- John F. Barry Managing Member Dated: December 9, 1999 Page 13 of 14 pages CUSIP No. 901314 10 4 Exhibit IV to Schedule 13G Under the Securities Exchange Act of 1934 John F. Barry disclaims beneficial ownership to the common shares of 24/7 Media, Inc. held by the following entities: Prospect Street Discovery Fund, Inc. Prospect Street Co-Investment Fund, LLC Prospect Street NYC Discovery Fund, L.P. Prospect Street NYC Co-Investment Fund, L.P. The filing of this Schedule 13G shall not be construed as an admission that John F. Barry is, for the purpose of Section 13(d) or 13(g) of the Securities Exchange Act of 1934, as amended, the beneficial owner of any securities covered by this Schedule 13G. Pursuant to Rule 13d-1(f)(1) and subject to the preceding disclaimer, John F. Barry affirms he is individually eligible to use Schedule 13G and agrees that this Schedule is filed on his behalf. ---------------------------------- John F. Barry Dated: December 9, 1999 Page 14 of 14 pages -----END PRIVACY-ENHANCED MESSAGE-----