-----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, JEyg5En82Wq/DPi5mN+rabKIUvdKp1NTqdKvaY5EWnEqk3X+SxDqah7DRQwTRcy4 i3LsoHNspKDIn38mbo3ZDQ== 0000950116-98-000986.txt : 19980504 0000950116-98-000986.hdr.sgml : 19980504 ACCESSION NUMBER: 0000950116-98-000986 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19980501 SROS: NASD GROUP MEMBERS: HELLER LAWRENCE GROUP MEMBERS: QUADRANGLE OFFSHORE (CAYMAN) LLC SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: KENETECH CORP CENTRAL INDEX KEY: 0000807708 STANDARD INDUSTRIAL CLASSIFICATION: COGENERATION SERVICES & SMALL POWER PRODUCERS [4991] IRS NUMBER: 943009803 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G SEC ACT: SEC FILE NUMBER: 005-43755 FILM NUMBER: 98607853 BUSINESS ADDRESS: STREET 1: 500 SANSOME ST STE 800 CITY: SAN FRANCISCO STATE: CA ZIP: 94111 BUSINESS PHONE: 4153983825 MAIL ADDRESS: STREET 1: 500 SANSOME STREET STREET 2: SUITE 300 CITY: SAN FRANCISCO STATE: CA ZIP: 94111 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: HELLER LAWRENCE CENTRAL INDEX KEY: 0001042355 STANDARD INDUSTRIAL CLASSIFICATION: [] FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: 31 WEST 52ND STREET STREET 2: 17TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10019 SC 13G 1 SCHEDULE 13G ------------------------------- 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. ________________)* Kenetech Corporation - -------------------------------------------------------------------------------- (Name of Issuer) 8.25% Convertible Preferred Stock - -------------------------------------------------------------------------------- (Title of Class of Securities) 488878307 ------------------------------------- (CUSIP Number) April 1, 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). Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. 1 of 6 pages 488878307 CUSIP No. ................................ - -------------------------------------------------------------------------------- 1. Names of Reporting Persons. I.R.S. Identification Nos. of above person (entities only) Lawrence A. Heller ............................................................................... - -------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (See Instructions) X (a) ..................................................................... (b) ..................................................................... - -------------------------------------------------------------------------------- 3. SEC Use Only.............................................................. - -------------------------------------------------------------------------------- United States 4. Citizenship or Place of Organization...................................... - -------------------------------------------------------------------------------- 521,600 (40 votes per share of 8.25% Convertible Preferred Stock. The Reporting Persons own 652,000 depository shares which depository shares represent 13,040 shares of 8.25% Convertible Preferred Stock.) Number of 5. Sole Voting Power...................................... Shares Bene- _________________________________________________________________ ficially by 0 Owned by Each 6. Share Voting Power..................................... Reporting _________________________________________________________________ Person With: 652,000 depository shares which depository shares represent 13,040 shares of 8.25% Convertible Preferred Stock. 7. Sole Dispositive Power................................... ----------------------------------------------------------------- 0 8. Shared Dispositive Power................................. - -------------------------------------------------------------------------------- 652,000 depository shares which depository shares represent 13,040 shares of 8.25% Convertible Preferred Stock. 9. Aggregate Amount Beneficially Owned by Each Reporting Person............... 10. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) ........................................................ 12.7% 11. Percentage of Class Represented by Amount in Row........................... - -------------------------------------------------------------------------------- 12. Type of Reporting Person (See Instructions) IN - -------------------------------------------------------------------------------- ................................................................................ ................................................................................ - -------------------------------------------------------------------------------- 2 of 6 pages 488878307 CUSIP No. ................................ - -------------------------------------------------------------------------------- 1. Names of Reporting Persons. I.R.S. Identification Nos. of above person (entities only) Quadrangle Offshore (Cayman) LLC ................................................................................ - -------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (See Instructions) X (a) ..................................................................... (b) ..................................................................... - -------------------------------------------------------------------------------- 3. SEC Use Only.............................................................. - -------------------------------------------------------------------------------- Cayman Islands, B.W.I. 4. Citizenship or Place of Organization...................................... - -------------------------------------------------------------------------------- 521,600 (40 votes per share of 8.25% Convertible Preferred Stock. The Reporting Persons own 652,000 depository shares which depository shares represent 13,040 shares of 8.25% Convertible Preferred Stock.) Number of 5. Sole Voting Power...................................... Shares Bene- _______________________________________________________________ ficially by 0 Owned by Each 6. Share Voting Power..................................... Reporting _______________________________________________________________ Person With: 652,000 depository shares which depository shares represent 13,040 shares of 8.25% Convertible Preferred Stock. 7. Sole Dispositive Power................................. -------------------------------------------------------------- 0 8. Shared Dispositive Power............................... - -------------------------------------------------------------------------------- 652,000 depository shares which depository shares represent 13,040 shares of 8.25% Convertible Preferred Stock. 9. Aggregate Amount Beneficially Owned by Each Reporting Person.............. 10. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) ....................................................... 12.7% 11. Percentage of Class Represented by Amount in Row.......................... - -------------------------------------------------------------------------------- 12. Type of Reporting Person (See Instructions) CO - -------------------------------------------------------------------------------- ................................................................................ ................................................................................ ................................................................................ - -------------------------------------------------------------------------------- 3 of 6 pages Item 1(a). Name of Issuer: The name of the issuer is Kenetech Corporation (the "Company"). Item 1(b). Address of Issuer's Principal Executive Offices: The principal executive offices of the Company are located at 500 Sansome Street, Suite 300, San Francisco, California 94111. Item 2(a). Name of Person Filing: Pursuant to Rule 13d-1(k)(1) promulgated under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), this Schedule 13G is being filed jointly by Lawrence A. Heller, an individual, and Quadrangle Offshore (Cayman) LLC, a Cayman Islands, B.W.I. company ("Quadrangle LLC"). Mr. Heller and Quadrangle LLC (collectively, the "Reporting Persons") are making this single, joint filing because they may be deemed to constitute a "group" within the meaning of Section 13(d)(3) of the Exchange Act. Item 2(b). Address of Principal Business Office or, if None, Residence: The principal business address of Mr. Heller is 6 East 45th Street, Suite 805, New York, New York 10017. The principal business address of Quadrangle LLC is c/o Goldman Sachs (Cayman) Trust, Ltd., Harbour Centre, 2nd Floor, P.O. Box 896, George Town, Grand Cayman, Cayman Islands, B.W.I. Item 2(c). Citizenship: Mr. Heller is a United States citizen. Quadrangle LLC is a company organized in the Cayman Islands, B.W.I. Item 2(d). Title of Class of Securities: The title of the class of securities is 8.25% Convertible Preferred Stock ("Preferred Stock"). Item 2(e). CUSIP Number: 488878307 Item 3. If This Statement is Filed pursuant to Rule 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 Exchange Act. (b) | | Bank as defined in Section 3(a)(6) of the Exchange Act. (c) | | Insurance company as defined in Section 3(a)(19) of the Exchange Act. (d) | | Investment Company registered under Section 8 of the Investment Company Act. (e) | | An investment advisor in accordance with Rule 13d-1(b) (1)(ii)(E). 4 of 6 pages (f) | | An employee benefit plan or endowment fund in accordance with Rule 13d-1(b)(1)(ii)(F). (g) | | A parent holding company or control person in accordance with Rule 13d-1(b)(1)(ii)(G). (h) | | A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act. (i) | | A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act. (j) | | Group in accordance with Rule 13d-1(b)(1)(ii)(J). If this statement if filed pursuant to Rule 13d-1(c), check this box.| X | Item 4. Ownership. QUADRANGLE LLC Quadrangle LLC is the direct beneficially owner of 652,000 depository shares, which represents 13,040 shares of Preferred Stock. The 13,040 shares of Preferred Stock represent approximately 12.7% of the outstanding shares of Preferred Stock of the Company (based on 102,492 as the number of shares of Preferred Stock issued and outstanding according to the Company's Annual Report on Form 10-K for the year ended December 31, 1997). Quadrangle LLC has the sole power to vote and dispose of all such shares of Preferred Stock. LAWRENCE A. HELLER Lawrence Heller, as the managing member of L. Heller Advisors, LLC, the Portfolio Manager of Quadrangle LLC, is the indirect beneficial owner of 652,000 depository shares, which represents 13,040 shares of Preferred Stock. The 13,040 shares of Preferred Stock represent approximately 12.7% of the outstanding shares of Preferred Stock of the Company (based on 102,492 as the number of shares of Preferred Stock issued and outstanding according to the Company's Annual Report on Form 10-K for the year ended December 31, 1997). Mr. Heller, as the Portfolio Manager of Quadrangle LLC, has the sole power to vote and dispose of all such shares of Preferred Stock. 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. 5 of 6 pages 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. Certifications. By signing below We certify that to the best of our knowledge and belief, the securities referred to above were not acquired and are not held for the purposes 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 our knowledge and belief, the undersigned certify that the information set forth in this statement is true, complete and correct. Dated: April 29, 1998 QUADRANGLE OFFSHORE (CAYMAN) LLC By: N.S. NOMINEES LTD., its Director By: /s/ Clive Harris ------------------------------- Name: Clive Harris Title: Director /s/ Lawrence A. Heller ---------------------- Lawrence A. Heller 6 of 6 pages -----END PRIVACY-ENHANCED MESSAGE-----