-----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, IjEF31N1ZFcKpBXww/1efXMKEcSasGQXBCSFuPOGbxqnKL1F8OBPhvpJ0OQOxJ2/ aX4PGa7sFvZcjZzIPJQA2w== 0000950130-99-000292.txt : 19990121 0000950130-99-000292.hdr.sgml : 19990121 ACCESSION NUMBER: 0000950130-99-000292 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 19990120 GROUP MEMBERS: BERSHAD STEPHEN W GROUP MEMBERS: SWB HOLDING CORPORATION SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: AXSYS TECHNOLOGIES INC CENTRAL INDEX KEY: 0000206030 STANDARD INDUSTRIAL CLASSIFICATION: MOTORS & GENERATORS [3621] IRS NUMBER: 111962029 STATE OF INCORPORATION: DE FISCAL YEAR END: 1228 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: SEC FILE NUMBER: 005-06258 FILM NUMBER: 99508829 BUSINESS ADDRESS: STREET 1: 910 SYLVAN AVE CITY: ENGLEWOOD CLIFFS STATE: NJ ZIP: 07632 BUSINESS PHONE: 2018711500 MAIL ADDRESS: STREET 2: 910 SYLVAN AVE CITY: ENGLEWOOD CLIFFS STATE: NJ ZIP: 07632 FORMER COMPANY: FORMER CONFORMED NAME: VERNITRON CORP DATE OF NAME CHANGE: 19920703 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: BERSHAD STEPHEN W CENTRAL INDEX KEY: 0000923910 STANDARD INDUSTRIAL CLASSIFICATION: [] FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: C/O AXSYS TECHNOLOGIES INC STREET 2: 645 MADISON AVENUE CITY: NEW YORK STATE: NY ZIP: 10022 BUSINESS PHONE: 2125935374 MAIL ADDRESS: STREET 1: C/O AXSYS TECHNOLOGIES INC STREET 2: 645 MADISON AVENUE CITY: NEW YORK STATE: NY ZIP: 10022 SC 13D/A 1 AMENDMENT #4 TO SCHEDULE 13D 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) SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. 4)* Axsys Technologies, Inc. - -------------------------------------------------------------------------------- (Name of Issuer) Common Stock, $.01 par value - -------------------------------------------------------------------------------- (Title of Class of Securities) 054615 10 9 - -------------------------------------------------------------------------------- (CUSIP Number) Stephen W. Bershad Axsys Technologies, Inc. 910 Sylvan Avenue, Suite 180 Englewood Cliffs, NJ 07632 (201) 871-1500 - -------------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) January 13, 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 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. [_] Note. Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7(b) 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).
- ------------------------ ----------------------- CUSIP No. 054615 10 9 13D Page 2 of 5 Pages ------------- --- --- - ------------------------ ----------------------- - ------------------------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS/I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Stephen W. Bershad - ------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_] (SEE INSTRUCTIONS) (b) [X] - ------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS (SEE INSTRUCTIONS) PF, OO - ------------------------------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) [_] - ------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION United States - ------------------------------------------------------------------------------------------------- SOLE VOTING POWER NUMBER OF 7 1,261,791 (See Item 5) SHARES ---------------------------------------------------------------------------- SHARED VOTING POWER BENEFICIALLY 8 -0- (See Item 5) OWNED BY ---------------------------------------------------------------------------- SOLE DISPOSITIVE POWER EACH 9 1,261,791 (See Item 5) REPORTING ---------------------------------------------------------------------------- SHARED DISPOSITIVE POWER PERSON WITH 10 -0- (See Item 5) - ------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,261,791 (See Item 5) - ------------------------------------------------------------------------------------------------- 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [_] (SEE INSTRUCTIONS) - ------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 31.5 (See Item 5) - ------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) IN - -------------------------------------------------------------------------------------------------
- ------------------------ ----------------------- CUSIP No. 054615 10 9 13D Page 3 of 5 Pages ------------- --- --- - ------------------------ ----------------------- - ------------------------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS/I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) SWB Holding Corporation - ------------------------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [_] (SEE INSTRUCTIONS) (b) [X] - ------------------------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------------------------------------------------------------------------------------------- 4 SOURCE OF FUNDS (SEE INSTRUCTIONS) PF, OO - ------------------------------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) [_] - ------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - ------------------------------------------------------------------------------------------------- SOLE VOTING POWER NUMBER OF 7 590,764 (See Item 5) SHARES ---------------------------------------------------------------------------- SHARED VOTING POWER BENEFICIALLY 8 -0- (See Item 5) OWNED BY ---------------------------------------------------------------------------- SOLE DISPOSITIVE POWER EACH 9 590,764 (See Item 5) REPORTING ---------------------------------------------------------------------------- SHARED DISPOSITIVE POWER PERSON WITH 10 -0- (See Item 5) - ------------------------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 590,764 (See Item 5) - ------------------------------------------------------------------------------------------------- 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [_] (SEE INSTRUCTIONS) - ------------------------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 14.8 (See Item 5) - ------------------------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) CO - -------------------------------------------------------------------------------------------------
AMENDMENT NO. 4 TO SCHEDULE 13D The Reporting Persons hereby amend and supplement their statement on Schedule 13D filed on May 17, 1994, as amended (the "Original Statement"), with respect to the Common Stock, par value $.01 per share ("Common Stock"), of Axsys Technologies, Inc. (formerly known as Vernitron Corporation), a Delaware corporation (the "Company"), as set forth in this Amendment No. 4. Unless otherwise indicated herein, each capitalized term used but not defined herein shall have the meaning assigned to such term in the Original Statement. The Cusip Number of the Common Stock is 054615 10 9. Prior to the change in name of the Company from Vernitron Corporation to Axsys Technologies, Inc. and a one- for-five reverse stock split of the Common Stock, the Cusip Number was 924359300. Except as set forth below, there are no changes to the information set forth in the Original Statement. Item 4. Purpose of Transaction. - ------ ---------------------- Item 4 of the Original Statement is hereby amended and supplemented by substituting the following for the last paragraph of Item 4 of the Original Statement: On January 13, 1999, Mr. Bershad withdrew the Proposal after the Company received an unsolicited proposal from an entity seeking to acquire all of the outstanding shares of Common Stock for $20.00 per share in cash. A copy of the press release issued by the Company on January 13, 1999, relating to Mr. Bershad's withdrawal of the Proposal is attached hereto as Exhibit 11. The Reporting Persons own the Common Stock for investment purposes. The Reporting Persons intend continuously to review their investment in the Company. In reaching any decision with respect to such investment, the Reporting Persons will take into consideration various factors, such as the Company's business and prospects, other developments concerning the Company, other investment opportunities available to the Reporting Persons and general economic and market conditions. Depending upon the results of their review of such factors, the Reporting Persons may decide to purchase (on such terms and at such times as they consider desirable) additional equity securities of the Company, or dispose of all or a portion of such securities (whether now or hereafter held). Except the extent the foregoing may be deemed a plan or proposal, the Reporting Persons do not have any plan or proposal which relates to, or could result in, any of the matters referred to in paragraphs (a) through (j), inclusive, of the instructions to Item 4 of Schedule 13D. Item 7. Material To Be Filed as Exhibits. - ------ -------------------------------- The following documents are included in this Statement as Exhibits hereto: 11. Press release issued by the Company, dated January 13, 1998. Page 4 of 5 SIGNATURES After reasonable inquiry and to the best of its knowledge and belief, each of the undersigned certifies that the information set forth in this Statement is true, complete and correct. Dated: January 20, 1999 /s/ Stephen W. Bershad -------------------------------------- Stephen W. Bershad SWB Holding Corporation By: /s/ Stephen W. Bershad ---------------------------------- Stephen W. Bershad President Page 5 of 5 Exhibit Index ------------- Exhibit Description Page No. - ------- ----------- -------- 11. Press release issued by the Company, dated January 13, 1999. EX-11 2 PRESS RELEASE EXHIBIT 11 For immediate release Contact: David L. Concannon General Counsel --------------- Axsys Technologies, Inc. 201/871-7756 dlc@axsys.com ------------- www.axsys.com ------------- Axsys Technologies Receives $20.00 Per Share Acquisition Proposal; Bershad Proposal Withdrawn Englewood Cliffs, NJ, January 13, 1999 -- Axsys Technologies, Inc. (Nasdaq: AXYS) today announced that Stephen W. Bershad, the Chairman and Chief Executive Officer of the Company and the beneficial owner of approximately 30% of the outstanding shares of Common Stock of the Company, has withdrawn his November 20th proposal for the acquisition of all of the outstanding shares of Common Stock of the Company. Mr. Bershad withdrew his proposal after the Company received an unsolicited proposal from an entity that seeks to acquire the Company for $20.00 per share in cash. In light of the withdrawal of Mr. Bershad's proposal, the Company's Board of Directors, at a meeting held on January 13, 1999, dissolved the Special Committee, consisting of Anthony J. Fiorelli, Jr. and Eliot M. Fried, that had been formed for the purpose of evaluating the Bershad proposal. The full Board of Directors has authorized the retention of independent investment banking advisers to explore strategic alternatives for the Company. These strategic alternatives may include a possible business combination, recapitalization, acquisition by the Company or sale of the Company or certain of its assets. There can be no assurance that this process will result in any transaction involving the Company. Axsys Technologies, Inc. supplies micro-positioning and precision optical products for a variety of markets, including defense, space, digital imaging and electronics capital equipment. The company also produces interconnect devices and distributes precision ball bearings for industrial, consumer and other commercial applications. For more information, contact Axsys Technologies, Inc., 910 Sylvan Avenue, Suite 180, Englewood Cliffs, NJ 07632. (201) 871-1500, FAX (201) 871-7750; web: www.axsys.com ------------- -----END PRIVACY-ENHANCED MESSAGE-----