-----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, HrxEX2IPYhf94T1+DImUL8hTybDXbaC3QbNMUGXcl6a+FlkQiFU5eZoD56fDRR3n h3KSDQFfoLl4LgmoRsEmnQ== 0000902664-08-000358.txt : 20080130 0000902664-08-000358.hdr.sgml : 20080130 20080130112609 ACCESSION NUMBER: 0000902664-08-000358 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20080130 DATE AS OF CHANGE: 20080130 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: VELOCITY EXPRESS CORP CENTRAL INDEX KEY: 0001002902 STANDARD INDUSTRIAL CLASSIFICATION: AIR COURIER SERVICES [4513] IRS NUMBER: 870355929 STATE OF INCORPORATION: DE FISCAL YEAR END: 0701 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-46377 FILM NUMBER: 08560170 BUSINESS ADDRESS: STREET 1: ONE MORNINGSIDE DRIVE NORTH STREET 2: BUILDING B SUITE 300 CITY: WESTPORT STATE: X1 ZIP: 06880 BUSINESS PHONE: 203-349-4160 MAIL ADDRESS: STREET 1: ONE MORNINGSIDE DRIVE NORTH STREET 2: BUILDING B SUITE 300 CITY: WESTPORT STATE: X1 ZIP: 06880 FORMER COMPANY: FORMER CONFORMED NAME: UNITED SHIPPING & TECHNOLOGY INC DATE OF NAME CHANGE: 19990512 FORMER COMPANY: FORMER CONFORMED NAME: U SHIP INC DATE OF NAME CHANGE: 19960313 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: CHARTER OAK PARTNERS/CT CENTRAL INDEX KEY: 0000789930 IRS NUMBER: 132869339 STATE OF INCORPORATION: CT FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 10 WRIGH ST BLDG B STREET 2: 4TH FL CITY: WESTPORT STATE: CT ZIP: 06877 MAIL ADDRESS: STREET 1: 10 WRIGHT STREET CITY: WESTPORT STATE: CT ZIP: 06881 FORMER COMPANY: FORMER CONFORMED NAME: FINE JERROLD N DATE OF NAME CHANGE: 19921030 SC 13G/A 1 p08-0147sc13ga.txt VELOCITY EXPRESS CORP. SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ---------------- SCHEDULE 13G/A (Rule 13d-102) Amendment No. 1 ---------------- INFORMATION TO BE INCLUDED IN STATEMENTS PURSUANT TO RULES 13d-1(b), (c) AND (d) AND AMENDMENTS THERETO FILED PURSUANT TO 13d-2 UNDER THE SECURITIES EXCHANGE ACT OF 1934 VELOCITY EXPRESS CORP. (Name of Issuer) COMMON STOCK PAR VALUE $0.004 PER SHARE (Title of Class of Securities) 92257T608 (CUSIP Number) January 7, 2008 (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). Schedule 13G/A CUSIP No. 92257T608 PAGE 2 OF 14 - ------------------------------------------------------------------------------ (1) NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Charter Oak Partners - ------------------------------------------------------------------------------ (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X] (b) [ ] - ------------------------------------------------------------------------------ (3) SEC USE ONLY - ------------------------------------------------------------------------------ (4) CITIZENSHIP OR PLACE OF ORGANIZATION Connecticut - ------------------------------------------------------------------------------ NUMBER OF (5) SOLE VOTING POWER 0 SHARES -------------------------------------------------------------- BENEFICIALLY (6) SHARED VOTING POWER 362,375 OWNED BY -------------------------------------------------------------- EACH (7) SOLE DISPOSITIVE POWER 0 REPORTING -------------------------------------------------------------- PERSON WITH (8) SHARED DISPOSITIVE POWER 362,375 - ------------------------------------------------------------------------------ (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 362,375 - ------------------------------------------------------------------------------ (10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] - ------------------------------------------------------------------------------ (11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 12.6% - ------------------------------------------------------------------------------ (12) TYPE OF REPORTING PERSON PN - ------------------------------------------------------------------------------ Schedule 13G/A CUSIP No. 92257T608 PAGE 3 OF 14 - ------------------------------------------------------------------------------ (1) NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Charter Oak Partners II, L.P. - ------------------------------------------------------------------------------ (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X] (b) [ ] - ------------------------------------------------------------------------------ (3) SEC USE ONLY - ------------------------------------------------------------------------------ (4) CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - ------------------------------------------------------------------------------ NUMBER OF (5) SOLE VOTING POWER 0 SHARES -------------------------------------------------------------- BENEFICIALLY (6) SHARED VOTING POWER 50,395 OWNED BY -------------------------------------------------------------- EACH (7) SOLE DISPOSITIVE POWER 0 REPORTING -------------------------------------------------------------- PERSON WITH (8) SHARED DISPOSITIVE POWER 50,395 - ------------------------------------------------------------------------------ (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 50,395 - ------------------------------------------------------------------------------ (10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] - ------------------------------------------------------------------------------ (11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 1.8% - ------------------------------------------------------------------------------ (12) TYPE OF REPORTING PERSON PN - ------------------------------------------------------------------------------ Schedule 13G/A CUSIP No. 92257T608 PAGE 4 OF 14 - ------------------------------------------------------------------------------ (1) NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Fine Partners, L.P. - ------------------------------------------------------------------------------ (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X] (b) [ ] - ------------------------------------------------------------------------------ (3) SEC USE ONLY - ------------------------------------------------------------------------------ (4) CITIZENSHIP OR PLACE OF ORGANIZATION Connecticut - ------------------------------------------------------------------------------ NUMBER OF (5) SOLE VOTING POWER 0 SHARES -------------------------------------------------------------- BENEFICIALLY (6) SHARED VOTING POWER 412,770 OWNED BY -------------------------------------------------------------- EACH (7) SOLE DISPOSITIVE POWER 0 REPORTING -------------------------------------------------------------- PERSON WITH (8) SHARED DISPOSITIVE POWER 412,770 - ------------------------------------------------------------------------------ (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 412,770 - ------------------------------------------------------------------------------ (10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] - ------------------------------------------------------------------------------ (11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 14.4% - ------------------------------------------------------------------------------ (12) TYPE OF REPORTING PERSON PN - ------------------------------------------------------------------------------ Schedule 13G/A CUSIP No. 92257T608 PAGE 5 OF 14 - ------------------------------------------------------------------------------ (1) NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Charter Oak Management GP LLC - ------------------------------------------------------------------------------ (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X] (b) [ ] - ------------------------------------------------------------------------------ (3) SEC USE ONLY - ------------------------------------------------------------------------------ (4) CITIZENSHIP OR PLACE OF ORGANIZATION United States - ------------------------------------------------------------------------------ NUMBER OF (5) SOLE VOTING POWER 0 SHARES -------------------------------------------------------------- BENEFICIALLY (6) SHARED VOTING POWER 440,373 OWNED BY -------------------------------------------------------------- EACH (7) SOLE DISPOSITIVE POWER 0 REPORTING -------------------------------------------------------------- PERSON WITH (8) SHARED DISPOSITIVE POWER 440,373 - ------------------------------------------------------------------------------ (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 440,373 - ------------------------------------------------------------------------------ (10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] - ------------------------------------------------------------------------------ (11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 15.3% - ------------------------------------------------------------------------------ (12) TYPE OF REPORTING PERSON CO - ------------------------------------------------------------------------------ Schedule 13G/A CUSIP No. 92257T608 PAGE 6 OF 14 - ------------------------------------------------------------------------------ (1) NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Charter Oak Managers, L.P. - ------------------------------------------------------------------------------ (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X] (b) [ ] - ------------------------------------------------------------------------------ (3) SEC USE ONLY - ------------------------------------------------------------------------------ (4) CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - ------------------------------------------------------------------------------ NUMBER OF (5) SOLE VOTING POWER 0 SHARES -------------------------------------------------------------- BENEFICIALLY (6) SHARED VOTING POWER 27,603 OWNED BY -------------------------------------------------------------- EACH (7) SOLE DISPOSITIVE POWER 0 REPORTING -------------------------------------------------------------- PERSON WITH (8) SHARED DISPOSITIVE POWER 27,603 - ------------------------------------------------------------------------------ (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 27,603 - ------------------------------------------------------------------------------ (10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] - ------------------------------------------------------------------------------ (11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 1.0% - ------------------------------------------------------------------------------ (12) TYPE OF REPORTING PERSON PN - ------------------------------------------------------------------------------ Schedule 13G/A CUSIP No. 92257T608 PAGE 7 OF 14 - ------------------------------------------------------------------------------ (1) NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Jerrold Fine - ------------------------------------------------------------------------------ (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X] (b) [ ] - ------------------------------------------------------------------------------ (3) SEC USE ONLY - ------------------------------------------------------------------------------ (4) CITIZENSHIP OR PLACE OF ORGANIZATION United States - ------------------------------------------------------------------------------ NUMBER OF (5) SOLE VOTING POWER 0 SHARES -------------------------------------------------------------- BENEFICIALLY (6) SHARED VOTING POWER 440,373 OWNED BY -------------------------------------------------------------- EACH (7) SOLE DISPOSITIVE POWER 0 REPORTING -------------------------------------------------------------- PERSON WITH (8) SHARED DISPOSITIVE POWER 440,373 - ------------------------------------------------------------------------------ (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 440,373 - ------------------------------------------------------------------------------ (10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] - ------------------------------------------------------------------------------ (11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 15.3% - ------------------------------------------------------------------------------ (12) TYPE OF REPORTING PERSON IN - ------------------------------------------------------------------------------ Schedule 13G/A CUSIP No. 92257T608 PAGE 8 OF 14 ITEM 1(a). NAME OF ISSUER: Velocity Express Corp. (the "Company") ITEM 1(b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES: One Morningside Drive North Building B, Suite 300 Westport, CT 06880 ITEM 2(a). NAME OF PERSON FILING: This Statement is filed by: (i) Charter Oak Partners, a Connecticut limited partnership ("COP"), with respect to the shares of Common Stock (defined in Item 2(d) below) directly owned by it; (ii) Charter Oak Partners II, L.P., a Delaware limited partnership ("COP II"), with respect to the shares of Common Stock directly owned by it; (iii) Fine Partners, L.P., a Connecticut limited partnership ("Fine Partners"), which serves as a general partner and Managing Partner of COP and COP II, with respect to shares of Common Stock directly owned by COP and COP II; (iv) Charter Oak Management GP LLC, a Delaware limited liability company ("Charter Oak Management"), which serves as general partner of COP, COP II and Charter Oak Master Fund, L.P., an exempted limited partnership organized under the laws of the Cayman Islands ("Charter Oak Master"), with respect to shares of Common Stock directly owned by COP, COP II and Charter Oak Master; (v) Charter Oak Managers, L.P., a Delaware limited partnership ("Charter Oak Managers"), which serves as investment manager to Charter Oak Offshore Fund, an exempted company organized under the laws of the Cayman Islands ("Charter Oak Offshore"), with respect to shares of Common Stock owned by Charter Oak Offshore through its interest in Charter Oak Master; and (vi) Jerrold Fine ("Mr. Fine"), who serves as the general partner of Fine Partners, the senior managing member of Charter Oak Management, and the managing member of the general partner of Charter Oak Managers, with respect to shares of Common Stock directly or indirectly owned by COP, COP II, Charter Oak Master and Charter Oak Offshore. The foregoing persons are hereinafter collectively referred to as the "Reporting Persons." Any disclosures herein with respect to persons other than the Reporting Persons are made on information and belief after making inquiry to the appropriate party. ITEM 2(b). ADDRESS OF PRINCIPAL BUSINESS OFFICE: The address of the principal business office of each of the Reporting Persons is 10 Wright Street, 2nd Floor, Suite 210, Westport, Connecticut 06881. ITEM 2(c). CITIZENSHIP: Schedule 13G/A CUSIP No. 92257T608 PAGE 9 OF 14 COP and Fine Partners are Connecticut limited partnerships. COP II and Charter Oak Managers are Delaware limited partnerships. Charter Oak Management is a Delaware limited liability company. Mr. Fine is a United States citizen. ITEM 2(d). TITLE OF CLASS OF SECURITIES: COMMON STOCK PAR VALUE $0.004 PER SHARE ITEM 2(e). CUSIP NUMBER: 92257T608 ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO 13d-1(b) OR 13d-2(b) OR (c), CHECK WHETHER THE PERSON FILING IS A: (a) [ ] Broker or dealer registered under Section 15 of the Act; (b) [ ] Bank as defined in Section 3(a)(6) of the Act; (c) [ ] Insurance Company as defined in Section 3(a)(19) of the Act; (d) [ ] Investment Company registered under Section 8 of the Investment Company Act of 1940; (e) [ ] Investment Adviser registered under Section 203 of the Investment Advisers Act of 1940: see Rule 13d-1(b)(1)(ii)(E); (f) [ ] Employee Benefit Plan, Pension Fund which is subject to the provisions of the Employee Retirement Income Security Act of 1974 or Endowment Fund; see Rule 13d-1(b)(1)(ii)(F); (g) [ ] Parent Holding Company, in accordance with Rule 13d-1(b)(ii)(G); (h) [ ] Savings Associations as defined in Section 3(b) of the Federal Deposit Insurance Act; (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; (j) [ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(J). ITEM 4. OWNERSHIP. A. COP (a) Amount beneficially owned: 362,375 (b) Percent of class: 12.6%. The percentages used herein and in the rest of Item 4 are calculated based upon approximately 2,875,516 shares of Common Stock, which consists of 2,800,000 shares of Common Stock issued and outstanding, as reflected in the Company's Form 8-K filed on December 6, 2007, as well as 64,944 and 10,572 additional shares of Common Stock that would be held by COP and COP II, respectively, pursuant to an exercise of their Series N Convertible Preferred Stock. Schedule 13G/A CUSIP No. 92257T608 PAGE 10 OF 14 (c) Number of shares as to which such person has: (i) sole power to vote or to direct the vote: 0 (ii) shared power to vote or to direct the vote: 362,375 (iii) sole power to dispose or to direct the disposition: 0 (iv) shared power to dispose or to direct the disposition: 362,375 B. COP II (a) Amount beneficially owned: 50,395 (b) Percent of class: 1.8% (c) Number of shares as to which such person has: (i) sole power to vote or to direct the vote: 0 (ii) shared power to vote or to direct the vote: 50,395 (iii) sole power to dispose or to direct the disposition: 0 (iv) shared power to dispose or to direct the disposition: 50,395 C. Fine Partners (a) Amount beneficially owned: 412,770 (b) Percent of class: 14.4% (c) Number of shares as to which such person has: (i) sole power to vote or to direct the vote: 0 (ii) shared power to vote or to direct the vote: 412,770 (iii) sole power to dispose or to direct the disposition: 0 (iv) shared power to dispose or to direct the disposition: 412,770 D. Charter Oak Management (a) Amount beneficially owned: 440,373 (b) Percent of class: 15.3% (c) Number of shares as to which such person has: (i) sole power to vote or to direct the vote: 0 Schedule 13G/A CUSIP No. 92257T608 PAGE 11 OF 14 (ii) shared power to vote or to direct the vote: 440,373 (iii) sole power to dispose or to direct the disposition: 0 (iv) shared power to dispose or to direct the disposition: 440,373 E. Charter Oak Managers (a) Amount beneficially owned: 27,603 (b) Percent of class: 1.0% (c) Number of shares as to which such person has: (i) sole power to vote or to direct the vote: 0 (ii) shared power to vote or to direct the vote: 27,603 (iii) sole power to dispose or to direct the disposition: 0 (iv) shared power to dispose or to direct the disposition: 27,603 F. Mr. Fine (a) Amount beneficially owned: 440,373 (b) Percent of class: 15.3% (c) Number of shares as to which such person has: (i) sole power to vote or to direct the vote: 0 (ii) shared power to vote or to direct the vote: 440,373 (iii) sole power to dispose or to direct the disposition: 0 (iv) shared power to dispose or to direct the disposition: 440,373 ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS. Not applicable. ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON. Not Applicable Schedule 13G/A CUSIP No. 92257T608 PAGE 12 OF 14 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. ITEM 10. CERTIFICATION. (if filing pursuant to Rule 13d-1(c)) Each of the Reporting Persons hereby makes the following 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. Schedule 13G/A CUSIP No. 92257T608 PAGE 13 OF 14 SIGNATURES After reasonable inquiry and to the best of our knowledge and belief, the undersigned certify that the information set forth in this statement is true, complete and correct. DATED: January 30, 2008 /s/ Jerrold N. Fine ------------------------------- Jerrold N. Fine, individually, and as senior managing member of Charter Oak Management GP LLC, for itself and as the general partner of Charter Oak Partners, Charter Oak Partners II, L.P. and Charter Oak Master Fund L.P., as the general partner of Fine Partners, L.P., for itself and as Managing Partner of Charter Oak Partners and Charter Oak Partners II, L.P., and as managing member of the general partner of Charter Oak Managers, L.P., for itself and as investment manager to Charter Oak Offshore Fund. Schedule 13G/A CUSIP No. 92257T608 PAGE 15 OF 14 EXHIBIT 1 JOINT ACQUISITION STATEMENT PURSUANT TO RULE 13d-1(k) The undersigned acknowledge and agree that the foregoing statement on Schedule 13G/A is filed on behalf of each of the undersigned and that all subsequent amendments to this statement on Schedule 13G/A, shall be filed on behalf of each of the undersigned without the necessity of filing additional joint acquisition statements. The undersigned acknowledge that each shall be responsible for the timely filing of such amendments, and for the completeness and accuracy of the information concerning him or it contained therein, but shall not be responsible for the completeness and accuracy of the information concerning the others, except to the extent that he or it knows or has reason to believe that such information is inaccurate. DATED: January 30, 2008 /s/ Jerrold N. Fine ------------------------------- Jerrold N. Fine, individually, and as senior managing member of Charter Oak Management GP LLC, for itself and as the general partner of Charter Oak Partners, Charter Oak Partners II, L.P. and Charter Oak Master Fund L.P., as the general partner of Fine Partners, L.P., for itself and as Managing Partner of Charter Oak Partners and Charter Oak Partners II, L.P., and as managing member of the general partner of Charter Oak Managers, L.P., for itself and as investment manager to Charter Oak Offshore Fund. -----END PRIVACY-ENHANCED MESSAGE-----