-----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, Rhdam6Qr+/eT+eg9c1duThSp/OIPq+D9rcH9Z8lJJH/BMJy0HIdn4I2l41fnGadx 397Cte8CDz0Y+g9ZseSHkA== 0000950131-99-000006.txt : 19990105 0000950131-99-000006.hdr.sgml : 19990105 ACCESSION NUMBER: 0000950131-99-000006 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19990104 GROUP MEMBERS: CITADEL INVESTMENT GROUP, L.L.C. GROUP MEMBERS: CITADEL LIMITED PARTNERSHIP GROUP MEMBERS: FISHER CAPITAL LTD. GROUP MEMBERS: GLB PARTNERS, L.P. GROUP MEMBERS: KENNETH GRIFFIN GROUP MEMBERS: KENSINGTON GLOBAL STRATEGIES FUND, LTD. GROUP MEMBERS: NP PARTNERS GROUP MEMBERS: OLYMPUS SECURITIES, LTD. GROUP MEMBERS: WELLINGTON PARTNERS LIMITED PARTNERSHIP GROUP MEMBERS: WINGATE CAPITAL LTD. SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: PIXTECH INC /DE/ CENTRAL INDEX KEY: 0000946144 STANDARD INDUSTRIAL CLASSIFICATION: COMPUTER TERMINALS [3575] IRS NUMBER: 043214691 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G SEC ACT: SEC FILE NUMBER: 005-49673 FILM NUMBER: 99500464 BUSINESS ADDRESS: STREET 1: AVENUE VICTOIRE 13790 CITY: ROUSSET FRANCE STATE: I0 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: CITADEL LIMITED PARTNERSHIP CENTRAL INDEX KEY: 0000931939 STANDARD INDUSTRIAL CLASSIFICATION: [] IRS NUMBER: 363754834 STATE OF INCORPORATION: IL FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: 225 WEST WASHINGTON ST STREET 2: 9TH FL CITY: CHICAGO STATE: IL ZIP: 60606 BUSINESS PHONE: 3126962100 MAIL ADDRESS: STREET 1: 225 W WASHINGTON ST STREET 2: STE 900 CITY: CHICAGO STATE: IL ZIP: 60606 FORMER COMPANY: FORMER CONFORMED NAME: CITADEL INVESTMENT MANAGEMENT LP /ADV DATE OF NAME CHANGE: 19960524 FORMER COMPANY: FORMER CONFORMED NAME: CITADEL INVESTMENT MANAGEMENT LP /ADV DATE OF NAME CHANGE: 19960524 SC 13G 1 SCHEDULE 13G UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G (Rule 13d-102) Information Statement Pursuant to Rules 13d-1 and 13d-2 Under the Securities Exchange Act of 1934 (Amendment No. _____)* PixTech, Inc. - -------------------------------------------------------------------------------- (Name of Issuer) Common Stock - -------------------------------------------------------------------------------- (Title of Class of Securities) 72583K 10 9 - -------------------------------------------------------------------------------- (CUSIP Number) December 22, 1998 - -------------------------------------------------------------------------------- Date of Event Which Requires Filing of the 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 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). Page 1 of 24 Pages - -------------------------- --------------------- CUSIP NO. 72583K-10-9 13G Page 2 of 24 Pages - -------------------------- --------------------- - ------------------------------------------------------------------------------ NAME OF REPORTING PERSON. 1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON. Citadel Limited Partnership - ------------------------------------------------------------------------------ CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* 2 (a) [X] (b) [_] - ------------------------------------------------------------------------------ SEC USE ONLY 3 - ------------------------------------------------------------------------------ CITIZENSHIP OR PLACE OF ORGANIZATION 4 Illinois Limited Partnership U.S.A. - ------------------------------------------------------------------------------ SOLE VOTING POWER 5 NUMBER OF 0 SHARES ----------------------------------------------------------- SHARED VOTING POWER BENEFICIALLY 6 336,702 Shares of Common Stock 88,766 Shares of Series E Preferred Stock OWNED BY (convertible into 887,660 Shares of Common Stock)/*/ ----------------------------------------------------------- EACH SOLE DISPOSITIVE POWER 7 REPORTING 0 PERSON ----------------------------------------------------------- SHARED DISPOSITIVE POWER WITH 8 See Item 6 above. - ------------------------------------------------------------------------------ AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 9 See Item 6 above. - ------------------------------------------------------------------------------ CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* 10 CERTAIN SHARES* [_] - ------------------------------------------------------------------------------ PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 11 Up to 7.8% as of the date of filing of this statement. (Based on 14,778,107 Shares of Common Stock issued and outstanding as of December 22, 1998, plus the Common Stock issuable upon the conversion of the preferred stock referred to in item 6 above). - ------------------------------------------------------------------------------ TYPE OF REPORTING PERSON * 12 PN;HC - ------------------------------------------------------------------------------ /*/ Series E Preferred Stock also accrue dividends at a rate of 6-10% per annum, depending on the then-current value of the Issuer's common stock, payable in cash or common stock, at the discretion of the Issuer. Page 2 of 24 Pages - -------------------------- --------------------- CUSIP NO. 72583K-10-9 13G Page 3 of 24 Pages - -------------------------- --------------------- - ------------------------------------------------------------------------------ NAME OF REPORTING PERSON. 1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON. GLB Partners, L.P. - ------------------------------------------------------------------------------ CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* 2 (a) [X] (b) [_] - ------------------------------------------------------------------------------ SEC USE ONLY 3 - ------------------------------------------------------------------------------ CITIZENSHIP OR PLACE OF ORGANIZATION 4 Delaware Limited Partnership U.S.A. - ------------------------------------------------------------------------------ SOLE VOTING POWER 5 NUMBER OF 0 SHARES ----------------------------------------------------------- SHARED VOTING POWER BENEFICIALLY 6 336,702 Shares of Common Stock 88,766 Shares of Series E Preferred Stock OWNED BY (convertible into 887,660 Shares of Common Stock)/*/ ----------------------------------------------------------- EACH SOLE DISPOSITIVE POWER 7 REPORTING 0 PERSON ----------------------------------------------------------- SHARED DISPOSITIVE POWER WITH 8 See Item 6 above. - ------------------------------------------------------------------------------ AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 9 See Item 6 above. - ------------------------------------------------------------------------------ CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* 10 CERTAIN SHARES* [_] - ------------------------------------------------------------------------------ PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 11 Up to 7.8% as of the date of filing of this statement. (Based on 14,778,107 Shares of Common Stock issued and outstanding as of December 22, 1998, plus the Common Stock issuable upon the conversion of the preferred stock referred to in item 6 above). - ------------------------------------------------------------------------------ TYPE OF REPORTING PERSON * 12 PN;HC - ------------------------------------------------------------------------------ /*/ Series E Preferred Stock also accrue dividends at a rate of 6-10% per annum, depending on the then-current value of the Issuer's common stock, payable in cash or common stock, at the discretion of the Issuer. Page 3 of 24 Pages - -------------------------- --------------------- CUSIP NO. 72583K-10-9 13G Page 4 of 24 Pages - -------------------------- --------------------- - ------------------------------------------------------------------------------ NAME OF REPORTING PERSON. 1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON. Citadel Investment Group, L.L.C. - ------------------------------------------------------------------------------ CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* 2 (a) [X] (b) [_] - ------------------------------------------------------------------------------ SEC USE ONLY 3 - ------------------------------------------------------------------------------ CITIZENSHIP OR PLACE OF ORGANIZATION 4 Delaware Limited Liability Company U.S.A. - ------------------------------------------------------------------------------ SOLE VOTING POWER 5 NUMBER OF 0 SHARES ----------------------------------------------------------- SHARED VOTING POWER BENEFICIALLY 6 336,702 Shares of Common Stock 88,766 Shares of Series E Preferred Stock OWNED BY (convertible into 887,660 Shares of Common Stock)/*/ ----------------------------------------------------------- EACH SOLE DISPOSITIVE POWER 7 REPORTING 0 PERSON ----------------------------------------------------------- SHARED DISPOSITIVE POWER WITH 8 See Item 6 above. - ------------------------------------------------------------------------------ AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 9 See Item 6 above. - ------------------------------------------------------------------------------ CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* 10 CERTAIN SHARES* [_] - ------------------------------------------------------------------------------ PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 11 Up to 7.8% as of the date of filing of this statement. (Based on 14,778,107 Shares of Common Stock issued and outstanding as of December 22, 1998, plus the Common Stock issuable upon the conversion of the preferred stock referred to in item 6 above). - ------------------------------------------------------------------------------ TYPE OF REPORTING PERSON * 12 OO;HC - ------------------------------------------------------------------------------ /*/ Series E Preferred Stock also accrue dividends at a rate of 6-10% per annum, depending on the then-current value of the Issuer's common stock, payable in cash or common stock, at the discretion of the Issuer. Page 4 of 24 Pages - -------------------------- --------------------- CUSIP NO. 72583K-10-9 13G Page 5 of 24 Pages - -------------------------- --------------------- - ------------------------------------------------------------------------------ NAME OF REPORTING PERSON. 1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON. Kenneth Griffin - ------------------------------------------------------------------------------ CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* 2 (a) [X] (b) [_] - ------------------------------------------------------------------------------ SEC USE ONLY 3 - ------------------------------------------------------------------------------ CITIZENSHIP OR PLACE OF ORGANIZATION 4 U.S. Citizen U.S.A. - ------------------------------------------------------------------------------ SOLE VOTING POWER 5 NUMBER OF 0 SHARES ----------------------------------------------------------- SHARED VOTING POWER BENEFICIALLY 6 336,702 Shares of Common Stock 88,766 Shares of Series E Preferred Stock OWNED BY (convertible into 887,660 Shares of Common Stock)/*/ ----------------------------------------------------------- EACH SOLE DISPOSITIVE POWER 7 REPORTING 0 PERSON ----------------------------------------------------------- SHARED DISPOSITIVE POWER WITH 8 See Item 6 above. - ------------------------------------------------------------------------------ AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 9 See Item 6 above. - ------------------------------------------------------------------------------ CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* 10 CERTAIN SHARES* [_] - ------------------------------------------------------------------------------ PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 11 Up to 7.8% as of the date of filing of this statement. (Based on 14,778,107 Shares of Common Stock issued and outstanding as of December 22, 1998, plus the Common Stock issuable upon the conversion of the preferred stock referred to in item 6 above). - ------------------------------------------------------------------------------ TYPE OF REPORTING PERSON * 12 IN - ------------------------------------------------------------------------------ /*/ Series E Preferred Stock also accrue dividends at a rate of 6-10% per annum, depending on the then-current value of the Issuer's common stock, payable in cash or common stock, at the discretion of the Issuer. Page 5 of 24 Pages - -------------------------- --------------------- CUSIP NO. 72583K-10-9 13G Page 6 of 24 Pages - -------------------------- --------------------- - ------------------------------------------------------------------------------ NAME OF REPORTING PERSON. 1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON. Wellington Partners Limited Partnership - ------------------------------------------------------------------------------ CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* 2 (a) [X] (b) [_] - ------------------------------------------------------------------------------ SEC USE ONLY 3 - ------------------------------------------------------------------------------ CITIZENSHIP OR PLACE OF ORGANIZATION 4 Illinois Limited Partnership U.S.A. - ------------------------------------------------------------------------------ SOLE VOTING POWER 5 NUMBER OF 0 SHARES ----------------------------------------------------------- SHARED VOTING POWER BENEFICIALLY 6 117,561 Shares of Common Stock 31,068 Shares of Series E Preferred Stock OWNED BY (convertible into 310,680 Shares of Common Stock)/*/ ----------------------------------------------------------- EACH SOLE DISPOSITIVE POWER 7 REPORTING 0 PERSON ----------------------------------------------------------- SHARED DISPOSITIVE POWER WITH 8 See Item 6 above. - ------------------------------------------------------------------------------ AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 9 See Item 6 above. - ------------------------------------------------------------------------------ CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* 10 CERTAIN SHARES* [_] - ------------------------------------------------------------------------------ PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 11 Up to 2.8% as of the date of filing of this statement. (Based on 14,778,107 Shares of Common Stock issued and outstanding as of December 22, 1998, plus the Common Stock issuable upon the conversion of the preferred stock referred to in item 6 above). - ------------------------------------------------------------------------------ TYPE OF REPORTING PERSON * 12 PN;HC - ------------------------------------------------------------------------------ /*/ Series E Preferred Stock also accrue dividends at a rate of 6-10% per annum, depending on the then-current value of the Issuer's common stock, payable in cash or common stock, at the discretion of the Issuer. Page 6 of 24 Pages - -------------------------- --------------------- CUSIP NO. 72583K-10-9 13G Page 7 of 24 Pages - -------------------------- --------------------- - ------------------------------------------------------------------------------ NAME OF REPORTING PERSON. 1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON. Wingate Capital Ltd. - ------------------------------------------------------------------------------ CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* 2 (a) [X] (b) [_] - ------------------------------------------------------------------------------ SEC USE ONLY 3 - ------------------------------------------------------------------------------ CITIZENSHIP OR PLACE OF ORGANIZATION 4 Cayman Islands Company - ------------------------------------------------------------------------------ SOLE VOTING POWER 5 NUMBER OF 0 SHARES ----------------------------------------------------------- SHARED VOTING POWER BENEFICIALLY 6 0 Shares of Common Stock 31,068 Shares of Series E Preferred Stock OWNED BY (convertible into 310,680 Shares of Common Stock)/*/ ----------------------------------------------------------- EACH SOLE DISPOSITIVE POWER 7 REPORTING 0 PERSON ----------------------------------------------------------- SHARED DISPOSITIVE POWER WITH 8 See Item 6 above. - ------------------------------------------------------------------------------ AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 9 See Item 6 above. - ------------------------------------------------------------------------------ CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* 10 CERTAIN SHARES* [_] - ------------------------------------------------------------------------------ PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 11 Up to 2.1% as of the date of filing of this statement. (Based on 14,778,107 Shares of Common Stock issued and outstanding as of December 22, 1998, plus the Common Stock issuable upon the conversion of the preferred stock referred to in item 6 above). - ------------------------------------------------------------------------------ TYPE OF REPORTING PERSON * 12 CO - ------------------------------------------------------------------------------ /*/ Series E Preferred Stock also accrue dividends at a rate of 6-10% per annum, depending on the then-current value of the Issuer's common stock, payable in cash or common stock, at the discretion of the Issuer. Page 7 of 24 Pages - -------------------------- --------------------- CUSIP NO. 72583K-10-9 13G Page 8 of 24 Pages - -------------------------- --------------------- - ------------------------------------------------------------------------------ NAME OF REPORTING PERSON. 1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON. NP Partners - ------------------------------------------------------------------------------ CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* 2 (a) [X] (b) [_] - ------------------------------------------------------------------------------ SEC USE ONLY 3 - ------------------------------------------------------------------------------ CITIZENSHIP OR PLACE OF ORGANIZATION 4 Bermuda General Partnership - ------------------------------------------------------------------------------ SOLE VOTING POWER 5 NUMBER OF 0 SHARES ----------------------------------------------------------- SHARED VOTING POWER BENEFICIALLY 6 117,561 Shares of Common Stock OWNED BY ----------------------------------------------------------- EACH SOLE DISPOSITIVE POWER 7 REPORTING 0 PERSON ----------------------------------------------------------- SHARED DISPOSITIVE POWER WITH 8 See Item 6 above. - ------------------------------------------------------------------------------ AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 9 See Item 6 above. - ------------------------------------------------------------------------------ CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* 10 CERTAIN SHARES* [_] - ------------------------------------------------------------------------------ PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 11 Up to 0.8% as of the date of filing of this statement. (Based on 14,778,107 Shares of Common Stock issued and outstanding as of December 22, 1998.) - ------------------------------------------------------------------------------ TYPE OF REPORTING PERSON * 12 PN - ------------------------------------------------------------------------------ Page 8 of 24 Pages - -------------------------- --------------------- CUSIP NO. 72583K-10-9 13G Page 9 of 24 Pages - -------------------------- --------------------- - ------------------------------------------------------------------------------ NAME OF REPORTING PERSON. 1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON. Kensington Global Strategies Fund, Ltd. - ------------------------------------------------------------------------------ CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* 2 (a) [X] (b) [_] - ------------------------------------------------------------------------------ SEC USE ONLY 3 - ------------------------------------------------------------------------------ CITIZENSHIP OR PLACE OF ORGANIZATION 4 Bermuda Company - ------------------------------------------------------------------------------ SOLE VOTING POWER 5 NUMBER OF 0 SHARES ----------------------------------------------------------- SHARED VOTING POWER BENEFICIALLY 6 219,141 Shares of Common Stock OWNED BY 57,698 Shares of Series E Preferred Stock (convertible into 576,980 Shares of Common Stock)/*/ ----------------------------------------------------------- EACH SOLE DISPOSITIVE POWER 7 REPORTING 0 PERSON ----------------------------------------------------------- SHARED DISPOSITIVE POWER WITH 8 See Item 6 above. - ------------------------------------------------------------------------------ AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 9 See Item 6 above. - ------------------------------------------------------------------------------ CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* 10 CERTAIN SHARES* [_] - ------------------------------------------------------------------------------ PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 11 Up to 5.2% as of the date of filing of this statement. (Based on 14,778,107 Shares of Common Stock issued and outstanding as of December 22, 1998, plus the Common Stock issuable upon the conversion of the preferred stock referred to in item 6 above.) - ------------------------------------------------------------------------------ TYPE OF REPORTING PERSON * 12 CO - ------------------------------------------------------------------------------ /*/ Series E Preferred Stock also accrue dividends at a rate of 6-10% per annum, depending on the then-current value of the Issuer's common stock, payable in cash or common stock, at the discretion of the Issuer. Page 9 of 24 Pages - -------------------------- --------------------- CUSIP NO. 72583K-10-9 13G Page 10 of 24 Pages - -------------------------- --------------------- - ------------------------------------------------------------------------------ NAME OF REPORTING PERSON. 1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON. Fisher Capital Ltd. - ------------------------------------------------------------------------------ CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* 2 (a) [X] (b) [_] - ------------------------------------------------------------------------------ SEC USE ONLY 3 - ------------------------------------------------------------------------------ CITIZENSHIP OR PLACE OF ORGANIZATION 4 Cayman Islands Company - ------------------------------------------------------------------------------ SOLE VOTING POWER 5 NUMBER OF 0 SHARES ----------------------------------------------------------- SHARED VOTING POWER BENEFICIALLY 6 0 Shares of Common Stock OWNED BY 57,698 Shares of Series E Preferred Stock (convertible into 576,980 Shares of Common Stock)/*/ ----------------------------------------------------------- EACH SOLE DISPOSITIVE POWER 7 REPORTING 0 PERSON ----------------------------------------------------------- SHARED DISPOSITIVE POWER WITH 8 See Item 6 above. - ------------------------------------------------------------------------------ AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 9 See Item 6 above. - ------------------------------------------------------------------------------ CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* 10 CERTAIN SHARES* [_] - ------------------------------------------------------------------------------ PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 11 Up to 3.8% as of the date of filing of this statement. (Based on 14,778,107 Shares of Common Stock issued and outstanding as of December 22, 1998, plus the Common Stock issuable upon the conversion of the preferred stock referred to in item 6 above.) - ------------------------------------------------------------------------------ TYPE OF REPORTING PERSON * 12 CO - ------------------------------------------------------------------------------ /*/ Series E Preferred Stock also accrue dividends at a rate of 6-10% per annum, depending on the then-current value of the Issuer's common stock, payable in cash or common stock, at the discretion of the Issuer. Page 10 of 24 Pages - -------------------------- --------------------- CUSIP NO. 72583K-10-9 13G Page 11 of 24 Pages - -------------------------- --------------------- - ------------------------------------------------------------------------------ NAME OF REPORTING PERSON. 1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON. Olympus Securities, Ltd. - ------------------------------------------------------------------------------ CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* 2 (a) [X] (b) [_] - ------------------------------------------------------------------------------ SEC USE ONLY 3 - ------------------------------------------------------------------------------ CITIZENSHIP OR PLACE OF ORGANIZATION 4 Bermuda Company - ------------------------------------------------------------------------------ SOLE VOTING POWER 5 NUMBER OF 0 SHARES ----------------------------------------------------------- SHARED VOTING POWER BENEFICIALLY 6 219,141 Shares of Common Stock OWNED BY ----------------------------------------------------------- EACH SOLE DISPOSITIVE POWER 7 REPORTING 0 PERSON ----------------------------------------------------------- SHARED DISPOSITIVE POWER WITH 8 See Item 6 above. - ------------------------------------------------------------------------------ AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 9 See Item 6 above. - ------------------------------------------------------------------------------ CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* 10 CERTAIN SHARES* [_] - ------------------------------------------------------------------------------ PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 11 Up to 1.5% as of the date of filing of this statement. (Based on 14,778,107 Shares of Common Stock issued and outstanding as of December 22, 1998.) - ------------------------------------------------------------------------------ TYPE OF REPORTING PERSON * 12 CO - ------------------------------------------------------------------------------ Page 11 of 24 Pages - -------------------------- --------------------- CUSIP NO. 72583K-10-9 13G Page 12 of 24 Pages - -------------------------- --------------------- SCHEDULE 13G ------------ Item 1(a) Name of Issuer: PixTech, Inc. 1(b) Address of Issuer's Principal Executive Offices: Avenue Olivier Perroy 13790 Rousset, France Item 2(a) Name of Person Filing Item 2(b) Address of Principal Business Office Item 2(c) Citizenship Citadel Limited Partnership 225 W. Washington 9th Floor Chicago, Illinois 60604 Illinois Limited Partnership GLB Partners, L.P. 225 W. Washington 9th Floor Chicago, Illinois 60604 Delaware Limited Partnership Citadel Investment Group, L.L.C. 225 W. Washington 9th Floor Chicago, Illinois 60604 Delaware Limited Liability Company Kenneth Griffin 225 W. Washington 9th Floor Chicago, Illinois 60604 U.S. Citizen Page 12 of 24 Pages - -------------------------- --------------------- CUSIP NO. 72583K-10-9 13G Page 13 of 24 Pages - -------------------------- --------------------- Wellington Partners Limited Partnership c/o Citadel Investment Group, L.L.C. 225 W. Washington 9th Floor Chicago, Illinois 60604 Illinois limited partnership Wingate Capital Ltd. c/o Citadel Investment Group, L.L.C. 225 W. Washington 9th Floor Chicago, Illinois 60604 Cayman Islands company NP Partners (f/k/a Nelson Partners) c/o Citadel Investment Group, L.L.C. 225 W. Washington 9th Floor Chicago, Illinois 60604 Bermuda general partnership Kensington Global Strategies Fund, Ltd. c/o Citadel Investment Group, L.L.C. 225 W. Washington 9th Floor Chicago, Illinois 60604 Bermuda company Fisher Capital Ltd. c/o Citadel Investment Group, L.L.C. 225 W. Washington 9th Floor Chicago, Illinois 60604 Cayman Islands company Olympus Securities, Ltd. c/o Citadel Investment Group, L.L.C. 225 W. Washington 9th Floor Chicago, Illinois 60604 Bermuda company Page 13 of 24 Pages - -------------------------- --------------------- CUSIP NO. 72583K-10-9 13G Page 14 of 24 Pages - -------------------------- --------------------- 2(d) Title of Class of Securities: Common Stock, par value $0.01 per share 2(e) CUSIP Number: 72583K-10-9 Item 3 If this statement is filed pursuant to Rules 13d-1(b), or 13d-2(b): Not applicable. Item 4 Ownership: CITADEL LIMITED PARTNERSHIP (a) Amount beneficially owned: 336,702 Shares of Common Stock 88,766 Shares of Series E Preferred Stock (convertible into 887,660 Shares of Common Stock)** (b) Percent of Class: Up to 7.8% as of the date of filing of this statement. (Based on 14,778,107 Shares of Common Stock issued and outstanding as of December 22, 1998, plus the Common Stock issuable upon the conversion of the preferred stock referred to in item (a) above.) (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: See item (a) above. (iii) sole power to dispose or to direct the disposition of: 0 (iv) shared power to dispose or to direct the disposition of: Page 14 of 24 Pages - -------------------------- --------------------- CUSIP NO. 72583K-10-9 13G Page 15 of 24 Pages - -------------------------- --------------------- See item (a) above. GLB PARTNERS, L.P. (a) Amount beneficially owned: 336,702 Shares of Common Stock 88,766 Shares of Series E Preferred Stock (convertible into 887,660 Shares of Common Stock)** (b) Percent of Class: Up to 7.8% as of the date of filing of this statement. (Based on 14,778,107 Shares of Common Stock issued and outstanding as of December 22, 1998, plus the Common Stock issuable upon the conversion of the preferred stock referred to in item (a) above.) (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: See item (a) above. (iii) sole power to dispose or to direct the disposition of: 0 (iv) shared power to dispose or to direct the disposition of: See item (a) above. CITADEL INVESTMENT GROUP, L.L.C. (a) Amount beneficially owned: 336,702 Shares of Common Stock 88,766 Shares of Series E Preferred Stock (convertible into 887,660 Shares of Common Stock)** (b) Percent of Class: Page 15 of 24 Pages - -------------------------- --------------------- CUSIP NO. 72583K-10-9 13G Page 16 of 24 Pages - -------------------------- --------------------- Up to 7.8% as of the date of filing of this statement. (Based on 14,778,107 Shares of Common Stock issued and outstanding as of December 22, 1998, plus the Common Stock issuable upon the conversion of the preferred stock referred to in item (a) above.) (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: See item (a) above. (iii) sole power to dispose or to direct the disposition of: 0 (iv) shared power to dispose or to direct the disposition of: See item (a) above. KENNETH GRIFFIN (a) Amount beneficially owned: 336,702 Shares of Common Stock 88,766 Shares of Series E Preferred Stock (convertible into 887,660 Shares of Common Stock)** (b) Percent of Class: Up to 7.8% as of the date of filing of this statement. (Based on 14,778,107 Shares of Common Stock issued and outstanding as of December 22, 1998, plus the Common Stock issuable upon the conversion of the preferred stock referred to in item (a) above.) (c) Number of shares as to which such person has: (i) sole power to vote or to direct the vote: 0 Page 16 of 24 Pages - -------------------------- --------------------- CUSIP NO. 72583K-10-9 13G Page 17 of 24 Pages - -------------------------- --------------------- (ii) shared power to vote or to direct the vote: See item (a) above. (iii) sole power to dispose or to direct the disposition of: 0 (iv) shared power to dispose or to direct the disposition of: See item (a) above. WELLINGTON PARTNERS LIMITED PARTNERSHIP (a) Amount beneficially owned: 117,561 Shares of Common Stock 31,068 Shares of Series E Preferred Stock (convertible into 310,680 Shares of Common Stock)** (b) Percent of Class: Up to 2.8% as of the date of filing of this statement. (Based on 14,778,107 Shares of Common Stock issued and outstanding as of December 22, 1998, plus the Common Stock issuable upon the conversion of the preferred stock referred to in item (a) above.) (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: See item (a) above. (iii) sole power to dispose or to direct the disposition of: 0 (iv) shared power to dispose or to direct the disposition of: Page 17 of 24 Pages - -------------------------- --------------------- CUSIP NO. 72583K-10-9 13G Page 18 of 24 Pages - -------------------------- --------------------- See item (a) above. WINGATE CAPITAL LTD. (a) Amount beneficially owned: 0 Shares of Common Stock 31,068 Shares of Series E Preferred Stock (convertible into 310,680 Shares of Common Stock)/**/ (b) Percent of Class: Up to 2.1% as of the date of filing of this statement. (Based on 14,778,107 Shares of Common Stock issued and outstanding as of December 22, 1998, plus the Common Stock issuable upon the conversion of the preferred stock referred to in item (a) above.) (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: See item (a) above. (iii) sole power to dispose or to direct the disposition of: 0 (iv) shared power to dispose or to direct the disposition of: See item (a) above. NP PARTNERS (a) Amount beneficially owned: 117,561 Shares of Common Stock (b) Percent of Class: Page 18 of 24 Pages - -------------------------- --------------------- CUSIP NO. 72583K-10-9 13G Page 19 of 24 Pages - -------------------------- --------------------- Up to 0.8% as of the date of filing of this statement. (Based on 14,778,107 Shares of Common Stock issued and outstanding as of December 22, 1998.) (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: See item (a) above. (iii) sole power to dispose or to direct the disposition of: 0 (iv) shared power to dispose or to direct the disposition of: See item (a) above. KENSINGTON GLOBAL STRATEGIES FUND, LTD. (a) Amount beneficially owned: 219,141 Shares of Common Stock 57,698 Shares of Series E Preferred Stock (convertible into 576,980 Shares of Common Stock)** (b) Percent of Class: Up to 5.2% as of the date of filing of this statement. (Based on 14,778,107 Shares of Common Stock issued and outstanding as of December 22, 1998, plus the Common Stock issuable upon the conversion of the preferred stock referred to in item (a) above.) (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: Page 19 of 24 Pages - -------------------------- --------------------- CUSIP NO. 72583K-10-9 13G Page 20 of 24 Pages - -------------------------- --------------------- See item (a) above. (iii) sole power to dispose or to direct the disposition of: 0 (iv) shared power to dispose or to direct the disposition of: See item (a) above. FISHER CAPITAL LTD. (a) Amount beneficially owned: 0 Shares of Common Stock 57,698 Shares of Series E Preferred Stock (convertible into 576,980 Shares of Common Stock)** (b) Percent of Class: Up to 3.8% as of the date of filing of this statement. (Based on 14,778,107 Shares of Common Stock issued and outstanding as of December 22, 1998, plus the Common Stock issuable upon the conversion of the preferred stock referred to in item (a) above.) (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: See item (a) above. (iii) sole power to dispose or to direct the disposition of: 0 (iv) shared power to dispose or to direct the disposition of: See item (a) above. Page 20 of 24 Pages - -------------------------- --------------------- CUSIP NO. 72583K-10-9 13G Page 21 of 24 Pages - -------------------------- --------------------- OLYMPUS SECURITIES, LTD. (a) Amount beneficially owned: 219,141 Shares of Common Stock (b) Percent of Class: Up to 1.5% as of the date of filing of this statement. (Based on 14,778,107 Shares of Common Stock issued and outstanding as of December 22, 1998.) (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: See item (a) above. (iii) sole power to dispose or to direct the disposition of: 0 (iv) shared power to dispose or to direct the disposition of: See item (a) above. ** Series E Preferred Stock accrue dividends at a rate of 6-10% per annum, depending on the then-current value of the Issuer's Common Stock, payable in cash or Common Stock, at the discretion of the Issuer. Certain securities reported herein are securities which the holders of such securities may acquire in the future through the conversion of convertible securities for which they paid, in the aggregate, $2,000,000 ("Stated Value") as of December 22, 1998 ("Closing Date"). As of any date after June 22, 1999 ("Conversion Date"), subject to the limitations described below, all or a portion of the Convertible Securities may be converted into a number of shares of Common Stock determined by dividing the Stated Value of such securities (plus, in the Issuer's discretion, an amount equal to any accrued but unpaid dividends due with respect to such securities) by the applicable conversion price ("Conversion Price"). The Conversion Price is equal to the lesser of (i) $2.25313 ("Issue Date Price") and (ii) the average of the closing bid price (as reported on the Nasdaq National Market System) of the Issuer's Common Stock for each of the ten trading days immediately preceding the Conversion Date ("Market Price"). Page 21 of 24 Pages - -------------------------- --------------------- CUSIP NO. 72583K-10-9 13G Page 22 of 24 Pages - -------------------------- --------------------- As a result, if the Market Price is less than the Issue Date Price, the Conversion Price will fluctuate depending upon the closing bid price of the Issuer's Common Stock. As a consequence, the number of shares of Common Stock into which the Convertible Securities may be converted, and consequently the number of shares of such securities which the holders of such securities may be deemed to beneficially own, may fluctuate on a daily basis based solely on the Common Stock's market price and without any action taken by the holders of such securities. None of the holders of Series E Preferred Stock reported herein may convert such securities to the extent that, after giving effect to such conversion, such holder (together with such holder's affiliates) (i) would beneficially own (as defined in Rule 13d-3, but excluding Series E Preferred Stock other than that with respect to which such determination is made) in excess of 10.00% of the outstanding shares of the Common Stock following such conversion, or (ii) would have acquired, through conversion of Series E Preferred Stock or otherwise, a number of shares which, when added to the number of shares of Common Stock beneficially owned (as defined in Rule 13d-3, but excluding Series E Preferred Stock other than that with respect to which such determination is made) at the beginning of the 60-day period ending on and including the date of such conversion, is in excess of 10.00% of the outstanding shares of the Issuer's Common Stock following such conversion during the 60-day period ending on and including such conversion date. Accordingly, the holders of such securities cannot be "beneficial owners" of more than 10.00% of the securities of Issuer within the meaning of Rule 13d-3 to the extent that the prohibitions in the foregoing sentence apply, and this Schedule shall not be construed as an admission that such holders of the securities reported herein are "beneficial owners" to such extent. 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. Item 7 Identification and Classification of the Subsidiary which Acquired the Security Being Reported on by the Parent Holding Company: See Item 2 above. Item 8 Identification and Classification of Members of the Group: Not Applicable. Item 9 Notice of Dissolution of Group: Not Applicable. 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. Page 22 of 24 Pages - -------------------------- --------------------- CUSIP NO. 72583K-10-9 13G Page 23 of 24 Pages - -------------------------- --------------------- After reasonable inquiry and to the best of its knowledge and belief, the undersigned certify that the information set forth in this statement is true, complete and correct. Dated this 4th day of January, 1999 /s/ Kenneth Griffin Kenneth Griffin
CITADEL LIMITED PARTNERSHIP CITADEL INVESTMENT GROUP, L.L.C. By: GLB Partners, L.P., By: /s/ Kenneth Griffin its General Partner President By: Citadel Investment Group, L.L.C., its General Partner By: /s/ Kenneth Griffin President
GLB PARTNERS, L.P. WINGATE CAPITAL LTD. By: Citadel Investment Group, L.L.C., By: Citadel Limited Partnership, its General Partner its Trading Manager By: /s/ Kenneth Griffin By: GLB Partners, L.P., President its General Partner By: Citadel Investment Group, L.L.C., its General Partner By: /s/ Kenneth Griffin President
WELLINGTON PARTNERS LIMITED FISHER CAPITAL LTD. PARTNERSHIP By: Citadel Limited Partnership, By: Citadel Limited Partnership, its General Partner its Trading Manager By: GLB Partners, L.P., By: GLB Partners, L.P., its General Partner its General Partner By: Citadel Investment Group, L.L.C., By: Citadel Investment Group, L.L.C., its General Partner its General Partner By: /s/ Kenneth Griffin By: /s/ Kenneth Griffin President President
Page 23 of 24 Pages - -------------------------- --------------------- CUSIP NO. 72583K-10-9 13G Page 24 of 24 Pages - -------------------------- ---------------------
KENSINGTON GLOBAL STRATEGIES NP PARTNERS FUND, LTD. By: Citadel Limited Partnership, By: Citadel Limited Partnership, its Trading Manager its Managing General Partner By: GLB Partners, L.P., By: GLB Partners, L.P., its General Partner its General Partner By: Citadel Investment Group, L.L.C., By: Citadel Investment Group, L.L.C., its General Partner its General Partner By: /s/ Kenneth Griffin By: /s/ Kenneth Griffin President President
OLYMPUS SECURITIES, LTD. By: Citadel Limited Partnership, its Trading Manager By: GLB Partners, L.P., its General Partner By: Citadel Investment Group, L.L.C., its General Partner By: /s/ Kenneth Griffin President
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