-----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, KtnXt/Bfd0lienlbprBCo/GncQoV+RfgREe40VPyOSzSdGH289usxW7vvDKY2Ezo FF9eImfGThh819kMBhOhUQ== 0000912057-02-003193.txt : 20020414 0000912057-02-003193.hdr.sgml : 20020414 ACCESSION NUMBER: 0000912057-02-003193 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20020129 GROUP MEMBERS: JACK W. LASERSOHN GROUP MEMBERS: JOHN E. RUNNELLS GROUP MEMBERS: STEPHEN D. BAKSA GROUP MEMBERS: VERTICAL FUND II, L.P. SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: LIFECORE BIOMEDICAL INC CENTRAL INDEX KEY: 0000028626 STANDARD INDUSTRIAL CLASSIFICATION: BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836] IRS NUMBER: 410948334 STATE OF INCORPORATION: MN FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-35300 FILM NUMBER: 02520918 BUSINESS ADDRESS: STREET 1: 3515 LYMAN BLVD CITY: CHASKA STATE: MN ZIP: 55318-3051 BUSINESS PHONE: 6123684300 FORMER COMPANY: FORMER CONFORMED NAME: AMERICAN MEDICAL RESEARCH INC DATE OF NAME CHANGE: 19691118 FORMER COMPANY: FORMER CONFORMED NAME: DIAGNOSTIC INC DATE OF NAME CHANGE: 19861214 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: VERTICAL FUND I LP CENTRAL INDEX KEY: 0001014478 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 18 BANK STREET CITY: SUMMIT STATE: NJ ZIP: 07901 BUSINESS PHONE: 9082773737 MAIL ADDRESS: STREET 1: 25 DEFOREST AVENUE CITY: SUMMIT STATE: NJ ZIP: 07901 FORMER COMPANY: FORMER CONFORMED NAME: VERTICAL FUND ASSOCIATES L P DATE OF NAME CHANGE: 19960514 SC 13D/A 1 a2069018zsc13da.txt SCHEDULE 13D UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13D UNDER THE SECURITIES EXCHANGE ACT OF 1934 (AMENDMENT NO. 6) LIFECORE BIOMEDICAL, INC. ------------------------- (Name of Issuer) COMMON STOCK, $0.01 PAR VALUE ----------------------------- (Title of Class of Securities) 532187107 --------- (CUSIP Number) John E. Runnells The Vertical Group, L.P. 25 DeForest Avenue Summit, NJ 07901 (908) 277-3737 -------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) JANUARY 17, 2002 ---------------- (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(b)(3) or (4), check the following box / /. NOTE: Schedules filed in paper format shall include a signed original and five copies of the schedule including all exhibits. Six copies of this statement, including all exhibits, should be filed with the Commission. See Rule 13d-1(a) 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). SCHEDULE 13D ================================================================================ CUSIP NO. 532187107 Page 2 of 12 Pages - -------------------------------------------------------------------------------- (1) NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Vertical Fund I, L.P. - ------------------------------------------------------------------------------- (2) CHECK THE APPROPRIATE BOX IF A MEMBER (a) / / OF A GROUP* (b) / / - ------------------------------------------------------------------------------- (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 Delaware - ------------------------------------------------------------------------------- NUMBER OF SHARES (7) SOLE VOTING POWER BENEFICIALLY OWNED 767,008 BY EACH REPORTING -------------------------------------------------- PERSON WITH (8) SHARED VOTING POWER 0 -------------------------------------------------- (9) SOLE DISPOSITIVE POWER 767,008 -------------------------------------------------- (10) SHARED DISPOSITIVE POWER 0 - ------------------------------------------------------------------------------- (11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 767,008 - ------------------------------------------------------------------------------- (12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES / / - ------------------------------------------------------------------------------- (13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 6.0% - ------------------------------------------------------------------------------- (14) TYPE OF REPORTING PERSON* PN - ------------------------------------------------------------------------------- SCHEDULE 13D ================================================================================ CUSIP NO. 532187107 Page 3 of 12 Pages - -------------------------------------------------------------------------------- (1) NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Vertical Fund II, L.P. - ------------------------------------------------------------------------------- (2) CHECK THE APPROPRIATE BOX IF A MEMBER (a) / / OF A GROUP* (b) / / - ------------------------------------------------------------------------------- (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 Delaware - ------------------------------------------------------------------------------- NUMBER OF SHARES (7) SOLE VOTING POWER BENEFICIALLY OWNED 282,492 BY EACH REPORTING -------------------------------------------------- PERSON WITH (8) SHARED VOTING POWER 0 -------------------------------------------------- (9) SOLE DISPOSITIVE POWER 282,492 -------------------------------------------------- (10) SHARED DISPOSITIVE POWER 0 - ------------------------------------------------------------------------------- (11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 282,492 - ------------------------------------------------------------------------------- (12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES / / - ------------------------------------------------------------------------------- (13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 2.2% - ------------------------------------------------------------------------------- (14) TYPE OF REPORTING PERSON* PN - ------------------------------------------------------------------------------- SCHEDULE 13D ================================================================================ CUSIP NO. 532187107 Page 4 of 12 Pages - -------------------------------------------------------------------------------- (1) NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Stephen D. Baksa - ------------------------------------------------------------------------------- (2) CHECK THE APPROPRIATE BOX IF A MEMBER (a) / / OF A GROUP* (b) / / - ------------------------------------------------------------------------------- (3) SEC USE ONLY - ------------------------------------------------------------------------------- (4) SOURCE OF FUNDS* PF - ------------------------------------------------------------------------------- (5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) / / - ------------------------------------------------------------------------------- (6) CITIZENSHIP OR PLACE OF ORGANIZATION U.S.A. - ------------------------------------------------------------------------------- NUMBER OF SHARES (7) SOLE VOTING POWER BENEFICIALLY OWNED 124,000 BY EACH REPORTING -------------------------------------------------- PERSON WITH (8) SHARED VOTING POWER 1,049,500 -------------------------------------------------- (9) SOLE DISPOSITIVE POWER 124,000 -------------------------------------------------- (10) SHARED DISPOSITIVE POWER 1,049,500 - ------------------------------------------------------------------------------- (11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,173,500 - ------------------------------------------------------------------------------- (12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES / / - ------------------------------------------------------------------------------- (13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 9.2% - ------------------------------------------------------------------------------- (14) TYPE OF REPORTING PERSON* IN - ------------------------------------------------------------------------------- SCHEDULE 13D ================================================================================ CUSIP NO. 532187107 Page 5 of 12 Pages - -------------------------------------------------------------------------------- (1) NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Jack W. Lasersohn - ------------------------------------------------------------------------------- (2) CHECK THE APPROPRIATE BOX IF A MEMBER (a) / / OF A GROUP* (b) / / - ------------------------------------------------------------------------------- (3) SEC USE ONLY - ------------------------------------------------------------------------------- (4) SOURCE OF FUNDS* PF - ------------------------------------------------------------------------------- (5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) / / - ------------------------------------------------------------------------------- (6) CITIZENSHIP OR PLACE OF ORGANIZATION U.S.A. - ------------------------------------------------------------------------------- NUMBER OF SHARES (7) SOLE VOTING POWER BENEFICIALLY OWNED 33,700 BY EACH REPORTING -------------------------------------------------- PERSON WITH (8) SHARED VOTING POWER 1,049,500 -------------------------------------------------- (9) SOLE DISPOSITIVE POWER 33,700 -------------------------------------------------- (10) SHARED DISPOSITIVE POWER 1,049,500 - ------------------------------------------------------------------------------- (11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,083,200 - ------------------------------------------------------------------------------- (12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES / / - ------------------------------------------------------------------------------- (13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 8.5% - ------------------------------------------------------------------------------- (14) TYPE OF REPORTING PERSON* IN - ------------------------------------------------------------------------------- SCHEDULE 13D ================================================================================ CUSIP NO. 532187107 Page 6 of 12 Pages - -------------------------------------------------------------------------------- (1) NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON John E. Runnells - ------------------------------------------------------------------------------- (2) CHECK THE APPROPRIATE BOX IF A MEMBER (a) / / OF A GROUP* (b) / / - ------------------------------------------------------------------------------- (3) SEC USE ONLY - ------------------------------------------------------------------------------- (4) SOURCE OF FUNDS* PF - ------------------------------------------------------------------------------- (5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) / / - ------------------------------------------------------------------------------- (6) CITIZENSHIP OR PLACE OF ORGANIZATION U.S.A. - ------------------------------------------------------------------------------- NUMBER OF SHARES (7) SOLE VOTING POWER BENEFICIALLY OWNED 1,800 BY EACH REPORTING -------------------------------------------------- PERSON WITH (8) SHARED VOTING POWER 1,049,500 -------------------------------------------------- (9) SOLE DISPOSITIVE POWER 1,800 -------------------------------------------------- (10) SHARED DISPOSITIVE POWER 1,049,500 - ------------------------------------------------------------------------------- (11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,051,300 - ------------------------------------------------------------------------------- (12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES / / - ------------------------------------------------------------------------------- (13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 8.2% - ------------------------------------------------------------------------------- (14) TYPE OF REPORTING PERSON* IN - ------------------------------------------------------------------------------- Page 7 of 12 Pages This Amendment No. 6 to Statement on Schedule 13-D ("Statement") with respect to the Common Stock, par value $0.01 per share, of Lifecore Biomedical, Inc. (the "Issuer") is filed jointly by Vertical Fund I, L.P. ("VF-I") and Vertical Fund II, L.P. ("VF-II") (collectively, the "Partnerships"), Stephen D. Baksa ("Baksa"), Jack W. Lasersohn ("Lasersohn") and John E. Runnells ("Runnells") (the Partnerships, Baksa, Lasersohn and Runnells are hereinafter sometimes referred to collectively as the "Reporting Persons") in order to amend Item 6 the Statement as set forth below and to amend Item 7 to add an additional exhibit as Exhibit 2. No change is made to the other Items contained in the Statement. ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER. Item 6 of the Statement is hereby amended by adding the following paragraph at the end of such Item 6: "The Partnerships have entered into a Stock Sale Plan dated January 17, 2002 (the "Plan") intended to comply with Rule 10b5-1 under the Securities Exchange Act of 1934 pursuant to which the Partnerships have granted a broker-dealer discretionary authority, subject to certain limitations, to sell shares of LCBM Stock for the account of the Partnerships from time to time. A copy of the Plan is filed as Exhibit 2 to this Statement and is incorporated in this Item 6 by reference as if set forth in full herein. Reference is hereby made to the Plan for the complete terms and conditions thereof." ITEM 7. MATERIAL TO BE FILED AS EXHIBITS. The following exhibit is hereby added to the list of exhibits set forth in Item 7 of the Statement: Exhibit 2 - Stock Sale Plan dated January 17, 2002 Page 8 of 12 Pages SIGNATURE. After reasonable inquiry and to the best of their knowledge and belief, the undersigned certify that the information set forth in this Amendment No. 6 is true, complete and correct. January 29, 2002 VERTICAL FUND I, L.P. BY: THE VERTICAL GROUP, L.P. General Partner By: /s/ John E. Runnells --------------------- John E. Runnells General Partner VERTICAL FUND II, L.P. BY: THE VERTICAL GROUP, L.P. General Partner By: /s/ John E. Runnells --------------------- John E. Runnells General Partner /s/ Stephen D. Baksa -------------------- Stephen D. Baksa /s/ Jack W. Lasersohn --------------------- Jack W. Lasersohn /s/ John E. Runnells -------------------- John E. Runnells EX-2 3 a2069018zex-2.txt EXHIBIT 2 EXHIBIT 2 STOCK SALE PLAN This Stock Sale Plan (this "Plan") is entered into this 17th day of January, 2002 between Vertical Fund I, L.P. and Vertical Fund II, L.P. (the "Participant") and U.S. Bancorp Piper Jaffray Inc. (the "Broker"). RECITALS The Participant desires to establish this Plan to systematically sell shares of common stock (the "Stock") of Lifecore Biomedical, Inc. (the "Issuer"). The Participant desires to engage the Broker to effect sales of shares of the Stock in accordance with this Plan. The Stock is principally traded on the NASD (the "Exchange"). AGREEMENT Therefore, the Participant and the Broker hereby agree as follows: 1. The Broker shall effect a sale (each a "Planned Transaction"), commencing _______________________ of (check one): |_|(_______) shares of Stock at prevailing market prices, [on the ________ day] of each month, or the next trading day if any such specified day is not a trading day,] [each day] on which the Exchange is open and the stock trades regular way trading; |_|(________) shares of Stock, at a price of $ _______ per share or better, [on] the ________ day of each month, or the next trading day if any such specified day is not a trading day,] [each day] on which the Exchange is open and the stock trades regular way trading; or |X|Other (complete) BROKER SHALL SELL SUCH SHARES AS, IN ITS DISCRETION, IT MAY DETERMINE TO BE APPROPRIATE IN LIGHT OF MARKET CONDITIONS, AT A MINIMUM PRICE PER SHARE OF $20, WITHOUT INFLUENCE OR INSTRUCTION BY THE UNDERSIGNED. 2. This Plan shall become effective on the date hereof and shall terminate on the earliest to occur of (check as many as apply): |_| the termination of the Participant's position as a (director) (officer) of the Issuer; |_| aggregate sale proceeds of $________ having been received; |X| 500,000 shares of Stock having been sold; |_| ______________, 20____; or |_| the death of the Participant. Notwithstanding the foregoing provisions of this Paragraph 2, the Participant may terminate this Plan at any time by providing written notice of termination prior to the requested date of termination. 3. The Participant understands that if the Broker is not able to effect part or all of a Planned Transaction consistent with ordinary principles of best execution or due to a market disruption or a legal, regulatory, or contractual restriction applicable to the Broker, the Broker shall effect such Planned Transaction, or part thereof, as promptly as practical consistent with ordinary principles of best execution and after the cessation or termination of any such market disruption, applicable restriction, or other event, provided that no such Planned Transaction shall be effected after the termination of this Plan. 4. The Participant represents and warrants that he or she: (a) is not currently aware of any material nonpublic information with respect to the Issuer or any securities of the Issuer (including the Stock); (b) is not subject to any legal, regulatory, or contractual restriction or undertaking that would prevent the Broker from conducting the Planned Transactions in accordance with this Plan; (c) is entering into this Plan in good faith and not as part of a plan or scheme to evade the prohibitions of SEC Rule 10b5-1; (d) owns free and clear of any liens, claims, encumbrances or other restrictions the shares of Stock to be sold under this Plan subject, in the case of shares of Stock underlying stock options to be exercised pursuant to this Plan, only to the compliance by the Participant with the exercise provisions of such options; (e) is is not an affiliate of the Issuer for purposes of SEC Rule 144; and (f) is currently able to purchase and sell shares of Stock in accordance with the Issuer's insider-trading policies and has obtained the approval of the Issuer's General Counsel (or other appropriate compliance officer) to enter into this Plan at this time which approval is evidenced below by the Issuer's acknowledgement hereof. 5. The Participant shall immediately notify the Broker if the Participant becomes subject to a legal, regulatory, or contractual restriction or undertaking that would prevent the Broker from making Planned Transactions under this Plan, and, in such a case, the Participant and the Broker shall cooperate to amend or otherwise revise this Plan to take account of the restriction or undertaking (but neither party shall be obligated to take any action that would be inconsistent with SEC Rule 10b5-1(c)). 6. It is the parties' intent that this Plan comply with the requirements of SEC Rule 10b5-1(c)(1) and this Plan shall be interpreted to comply with the requirements thereof. Any provision of this Plan that cannot be construed in accordance with Rule 10b5-1(c) shall be void. 7. If the Participant is an "affiliate" of the Issuer for purposes of SEC Rule 144, as represented by the Participant above, then the Broker agrees to conduct all Planned Transactions in accordance with the manner-of-sale requirement of Rule 144, and in no event shall the Broker effect any such Planned Transaction if it would exceed the then-applicable volume limitation under Rule 144, assuming that the sales under this Plan are the only sales subject to that limitation. The Participant agrees not to take, and agrees to cause any person or entity with which he or she would be required to aggregate sales of Stock under paragraph (a)(2) or (e) of Rule 144 not to take, any action that would cause any such sale not to comply with Rule 144. The Participant will be responsible for making all required Form 144 filings. 8. The Participant acknowledges that the Issuer may suspend the Planned Transactions at such times and for such periods as may be advisable to ensure compliance with, among other things, applicable securities laws and regulations, rules of the Exchange, or contractual or accounting requirements in connection with acquisitions or dispositions by the Issuer or the Issuer's purchases or sales of its securities. Any such suspension shall be communicated to the Broker in writing by the Issuer's General Counsel or other appropriate compliance officer and shall contain an acknowledgment that such suspension is being made in accordance with Rule 10b5-1(c). 9. The Broker agrees not to use any information about the Planned Transactions in connection with purchases or sales of, or trading in, any securities of the Issuer, or derivative securities thereof, or provide other people with such information or recommend that other people buy or sell securities based upon such information. 10. The Participant agrees to make, or to assist the Issuer in making, all filings required under Sections 13(d) and 16 of the Securities Exchange Act of 1934 (E.G., Forms 4 and 5) with respect to the Planned Transactions. The Broker shall have no responsibility for any such filings. 11. The Participant agrees that the Issuer, in its discretion, may publicly disclose the existence and terms of this Plan. 12. All share numbers and dollar amounts set forth in this Plan shall automatically be adjusted to reflect stock splits, stock dividends, and similar events occurring after the date hereof. 13. The Participant may trade in securities of the Issuer in addition to the Planned Transaction, provided that the Participant complies with the insider-trading policies of the Issuer and applicable regulatory requirements and the Participant does not enter into or alter a corresponding or hedging transaction or position with respect to the Planned Transactions. The Participant agrees to promptly notify the Broker of any transaction in the Stock by the Participant other than a Planned Transaction pursuant to this Plan. 14. This Plan may be amended only by a writing executed by the Participant and the Broker that is acknowledged by the Issuer. Any such writing shall contain the Participant's representation that he or she knows of no material nonpublic information regarding the Issuer or any of its securities (including the Stock) as of the date thereof. IN WITNESS WHEREOF, the undersigned have signed this Plan as of the date first written above. PARTICIPANT By: /s/ John E. Runnells ----------------------------------- U.S. BANCORP PIPER JAFFRAY INC. By: /s/ G. Richard Ferguson --------------------------------- Its: Managing Director -------------------------------- -----END PRIVACY-ENHANCED MESSAGE-----