-----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, Lnk7Ij7s/uYLYTjKkqS8enYp5cWNE+67U+NNehwN8IzrAd85QAMb+oHb6/SrSuDc Unn2pqtOU7NMzj402YG6tw== 0000950131-98-005638.txt : 19981026 0000950131-98-005638.hdr.sgml : 19981026 ACCESSION NUMBER: 0000950131-98-005638 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19981023 SROS: NYSE SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: NOVASTAR FINANCIAL INC CENTRAL INDEX KEY: 0001025953 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] IRS NUMBER: 481190054 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G SEC ACT: SEC FILE NUMBER: 005-52325 FILM NUMBER: 98730052 BUSINESS ADDRESS: STREET 1: 1901 W 47TH PLACE STREET 2: STE 105 CITY: WESTWOOD STATE: KS ZIP: 66205 BUSINESS PHONE: 9133621090 MAIL ADDRESS: STREET 1: 1901 WEST 47TH PLACE CITY: WESTWOOD STATE: KS ZIP: 66205 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: GENERAL MOTORS CORP CENTRAL INDEX KEY: 0000040730 STANDARD INDUSTRIAL CLASSIFICATION: MOTOR VEHICLES & PASSENGER CAR BODIES [3711] IRS NUMBER: 380572515 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: 100 RENAISSANCE CTR CITY: DETROIT STATE: MI ZIP: 48243-7301 BUSINESS PHONE: 3135565000 MAIL ADDRESS: STREET 1: 3044 W GRAND BOULEVARD CITY: DETROIT STATE: MI ZIP: 48202-3091 SC 13G 1 SCHEDULE 13G UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 NovaStar Financial, Inc. - ---------------------------------------------------------------------- (Name of Issuer) Common Stock, par value $0.01 - ---------------------------------------------------------------------- (Title of Class of Securities) 669947-40-0 ----------------------- (CUSIP Number) October 13, 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) Page 1 of 5 pages CUSIP No. 669947-40-0 13G Page 2 of 5 Pages - ---------------------------------------------------------------------- 1 Name of Reporting Person I.R.S. Identification No. of above person (entities only) General Motors Corporation, as Parent Holding Company of Residential Funding Corporation - ---------------------------------------------------------------------- 2 Check the Appropriate Box if a Member of a Group (a) [ ] (b) [ ] - ---------------------------------------------------------------------- 3 SEC Use Only - ---------------------------------------------------------------------- 4 Citizenship or Place of Organization Delaware - ----------------------------------------------------------------------- 5 Sole Voting Power 812,731 shares Number of ----------------------------------------------- Shares 6 Shared Voting Power Beneficially Owned by - 0 - Each ----------------------------------------------- Reporting 7 Sole Dispositive Power Person With 812,731 shares ----------------------------------------------- 8 Shared Dispositive Power - 0 - - ---------------------------------------------------------------------- 9 Aggregate Amount Beneficially Owned by Each Reporting Person 812,731 shares - ---------------------------------------------------------------------- 10 Check if the Aggregate Amount in Row (9) Excludes Certain Shares [ ] - ---------------------------------------------------------------------- 11 Percent of Class Represented by Amount in Row (9) 9.1% - ---------------------------------------------------------------------- 12 Type of Reporting Person CO - ---------------------------------------------------------------------- Item 1. (a) Name of Issuer: NovaStar Financial, Inc. (the "Issuer") (b) Address of Issuer's Principal Executive Offices: 1900 West 47th Place, Suite 105 Westwood, Kansas 66205 Item 2. (a) Name of Person Filing: General Motors Corporation, a Delaware Corporation ("GM"), as Parent Holding Company of Residential Funding Corporation, a Delaware corporation and an indirect subsidiary of GM ("RFC"). (b) Address of Principal Executive Office: 100 Renaissance Center, Detroit, Michigan 48265-1000 (c) Citizenship: Delaware corporation (d) Title of Class of Securities: Common Stock, par value $0.01 (e) CUSIP Number: 669947-40-0 Item 3. If this statement is filed pursuant to sections 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a(n): (a) [ ] Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o); (b) [ ] Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c); (c) [ ] Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c); (d) [ ] Investment company registered under section 8 of the Investment Company Act (15 U.S.C. 80a-8); (e) [ ] Investment adviser in accordance with section 240.13d-1(b)(1)(ii)(E); (f) [ ] Employee benefit plan or endowment fund in accordance with section 240.13d-1(b)(1)(ii)(F); (g) [ ] Parent holding company or control person in accordance with section 240.13d-1(b)(ii)(G); (h) [ ] Savings association as defined in section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); Page 3 of 5 pages (i) [ ] Church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j) [ ] Group, in accordance with Section 240.13d-1(b)(1)(ii)(J) If this statement is filed pursuant to Section 240.13d-1(c), check this box [X] Item 4. Ownership (a) Amount Beneficially Owned: GM, as Parent Holding Company of RFC, may be deemed to beneficially own 812,731 shares of Common Stock, par value $0.01, of the Issuer ("Common Stock"), which shares may be deemed to be beneficially owned by RFC as a result of that certain guaranty, dated October 13, 1998, made by the Issuer to RFC, pursuant to which the Issuer has agreed to issue to RFC a warrant (the "Warrant"), a portion of which will be exercisable into 812,731 shares of Common Stock. The remaining portion of the Warrant, which will cover additional shares of Common Stock, will not be exercisable within 60 days of the date hereof. (b) Percent of Class: 9.1% (as of October 13, 1998, based on information provided to RFC by the Issuer) (c) Number of shares as to which such person has: (i) sole power to vote or to direct the vote: See response to Item 4(a) above. (ii) shared power to vote or to direct the vote: None. (iii) sole power to dispose or to direct the disposition of: See response to Item 4(a) above. (iv) shared power to direct the disposition of: None. Item 5. Ownership of Five Percent or Less of a Class If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the Page 4 of 5 pages beneficial owner of more than five percent of the class of securities, check the following [ ]. Item 6. Ownership of More than Five Percent on Behalf of Another Person N/A Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company See Exhibit I Item 8. Identification and Classification of Members of the Group N/A Item 9. Notice of Dissolution of Group N/A Item 10. Certification 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. Date: October 23, 1998 GENERAL MOTORS CORPORATION, as Parent Holding Company of Residential Funding Corporation By: /s/ Martin I. Darvick ------------------------------- Name: Martin I. Darvick Title: Assistant Secretary Page 5 of 5 pages Exhibit I The Schedule 13G to which this Exhibit I is attached is being filed by General Motors Corporation ("GM") as Parent Holding Company of Residential Funding Corporation, a Delaware corporation ("RFC"). RFC is a subsidiary of GMAC RF, Inc., a Michigan corporation, which is a subsidiary of GMAC Mortgage Group, Inc., a Michigan corporation, which is a subsidiary of General Motors Acceptance Corporation, a Delaware corporation, which is a subsidiary of GM. -----END PRIVACY-ENHANCED MESSAGE-----