-----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, VL+Pp1ZrsNnlzTraWOjPBTHglGe9w1Iwr6DOlwSTrM4n/pWetUurBebpTfDXtNgt Qp0w59wCzaXLr5VZSdB1yw== 0000950135-00-000757.txt : 20000215 0000950135-00-000757.hdr.sgml : 20000215 ACCESSION NUMBER: 0000950135-00-000757 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20000214 GROUP MEMBERS: ACM CAPITAL PARTNERS II LP GROUP MEMBERS: ADAMS CAPITAL MANAGEMENT L P GROUP MEMBERS: JERRY S SULLIVAN GROUP MEMBERS: JOEL P ADAMS GROUP MEMBERS: WILLIAM A FREZZA GROUP MEMBERS: WILLIAMS C HULLEY SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: AIRNET COMMUNICATIONS CORP CENTRAL INDEX KEY: 0000944163 STANDARD INDUSTRIAL CLASSIFICATION: RADIO & TV BROADCASTING & COMMUNICATIONS EQUIPMENT [3663] IRS NUMBER: 593218138 FILING VALUES: FORM TYPE: SC 13G SEC ACT: SEC FILE NUMBER: 005-57311 FILM NUMBER: 539106 BUSINESS ADDRESS: STREET 1: 100 RIALTO PLACE STREET 2: SUITE 300 CITY: MELBOURNE STATE: FL ZIP: 32901 BUSINESS PHONE: 4079841990 MAIL ADDRESS: STREET 1: 100 RIALTO PLACE STREET 2: SUITE 300 CITY: MELBOURNE STATE: FL ZIP: 32901 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: ADAMS CAPITAL MANAGEMENT L P CENTRAL INDEX KEY: 0001046989 STANDARD INDUSTRIAL CLASSIFICATION: [] FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: 518 BROAD STREET CITY: SEWICKLEY STATE: PA ZIP: 15143 BUSINESS PHONE: 4127499986 MAIL ADDRESS: STREET 1: 518 BROAD STREET CITY: SEWICKLEY STATE: PA ZIP: 15143 SC 13G 1 AIRNET COMMUNICATIONS CORPORATION 1 ------------------------------ OMB APPROVAL ------------------------------ OMB Number: 3235-0145 Expires: November 30, 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. )* Airnet Communications Corporation ------------------------------------------------------- (Name of Issuer) Common Stock, par value $.001 per share ------------------------------------------------------- (Title of Class of Securities) 00941P 10 6 ------------------------------------------------------- (CUSIP Number) December 31, 1999 ------------------------------------------------------- (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) [ ] Rule 13d-1(c) [X] 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). Page 1 of 11 2 SCHEDULE 13G CUSIP NO. 00941P 10 6 PAGE 2 OF 11 PAGES ------------- -- -- - -------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Adams Capital Management, L.P. (23-2922536) - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (A) [ ] (B) [ ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware limited partnership - -------------------------------------------------------------------------------- 5 SOLE VOTING POWER 0 shares NUMBER OF ------------------------------------------------------ SHARES 6 SHARED VOTING POWER BENEFICIALLY OWNED BY 1,641,874 shares EACH ------------------------------------------------------ REPORTING 7 SOLE DISPOSITIVE POWER PERSON WITH 0 shares ------------------------------------------------------ 8 SHARED DISPOSITIVE POWER 1,641,874 shares - -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,641,874 shares - -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) [ ] - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 7.37% - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) PN - -------------------------------------------------------------------------------- Page 2 of 11 3 SCHEDULE 13G CUSIP NO. 00941P 10 6 PAGE 3 OF 11 PAGES ------------- -- -- - -------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) ACM Capital Partners II, L.P. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (A) [ ] (B) [ ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware limited partnership - -------------------------------------------------------------------------------- 5 SOLE VOTING POWER 0 shares NUMBER OF ------------------------------------------------------ SHARES 6 SHARED VOTING POWER BENEFICIALLY OWNED BY 1,641,874 shares EACH ------------------------------------------------------ REPORTING 7 SOLE DISPOSITIVE POWER PERSON WITH 0 shares ------------------------------------------------------ 8 SHARED DISPOSITIVE POWER 1,641,874 shares - -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,641,874 shares - -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) [ ] - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 7.37% - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) PN - -------------------------------------------------------------------------------- Page 3 of 11 4 SCHEDULE 13G CUSIP NO. 00941P 10 6 PAGE 4 OF 11 PAGES ------------- -- -- - -------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Joel P. Adams - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (A) [ ] (B) [ ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION United States - -------------------------------------------------------------------------------- 5 SOLE VOTING POWER 0 shares NUMBER OF ------------------------------------------------------ SHARES 6 SHARED VOTING POWER BENEFICIALLY OWNED BY 1,913,467 shares EACH ------------------------------------------------------ REPORTING 7 SOLE DISPOSITIVE POWER PERSON ------------------------------------------------------ 8 SHARED DISPOSITIVE POWER 1,913,467 shares - -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,913,467 shares - -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) [ ] - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 8.61% - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) IN - -------------------------------------------------------------------------------- Page 4 of 11 5 SCHEDULE 13G CUSIP NO. 00941P 10 6 PAGE 5 OF 11 PAGES ------------- -- -- - -------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) William C. Hulley - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (A) [ ] (B) [ ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION United States - -------------------------------------------------------------------------------- 5 SOLE VOTING POWER 0 shares NUMBER OF ------------------------------------------------------ SHARES 6 SHARED VOTING POWER BENEFICIALLY OWNED BY 1,641,874 shares EACH ------------------------------------------------------ REPORTING 7 SOLE DISPOSITIVE POWER PERSON WITH 0 shares ------------------------------------------------------ 8 SHARED DISPOSITIVE POWER 1,641,874 shares - -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,641,874 shares - -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) [ ] - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 7.37% - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) IN - -------------------------------------------------------------------------------- Page 5 of 11 6 SCHEDULE 13G CUSIP NO. 00941P 10 6 PAGE 6 OF 11 PAGES ------------- -- -- - -------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Jerry S. Sullivan - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (A) [ ] (B) [ ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION United States - -------------------------------------------------------------------------------- 5 SOLE VOTING POWER 0 shares NUMBER OF ------------------------------------------------------ SHARES 6 SHARED VOTING POWER BENEFICIALLY OWNED BY 1,641,874 shares EACH ------------------------------------------------------ REPORTING 7 SOLE DISPOSITIVE POWER PERSON WITH 0 shares ------------------------------------------------------ 8 SHARED DISPOSITIVE POWER 1,641,874 shares - -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,641,874 shares - -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) [ ] - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 7.37% - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) IN - -------------------------------------------------------------------------------- Page 6 of 11 7 SCHEDULE 13G CUSIP NO. 00941P 10 6 PAGE 7 OF 11 PAGES ------------- -- -- - -------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) William A. Frezza - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (A) [ ] (B) [ ] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION United States - -------------------------------------------------------------------------------- 5 SOLE VOTING POWER 0 shares NUMBER OF ------------------------------------------------------ SHARES 6 SHARED VOTING POWER BENEFICIALLY OWNED BY 1,641,874 shares EACH ------------------------------------------------------ REPORTING 7 SOLE DISPOSITIVE POWER PERSON WITH 0 shares ------------------------------------------------------ 8 SHARED DISPOSITIVE POWER 1,641,874 shares - -------------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,641,874 shares - -------------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) [ ] - -------------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 7.37% - -------------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) IN - -------------------------------------------------------------------------------- Page 7 of 11 8 SCHEDULE 13G Item 1(a). NAME OF ISSUER: AirNet Communications Corporation Item 1(b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES: 100 Rialto Place, Suite 300, Melbourne, FL 32901 Item 2(a). NAMES OF PERSONS FILING: Adams Capital Management, L.P., ACM Capital Partners II, L.P., Joel P. Adams, William C. Hulley, Jerry S. Sullivan, and William A. Frezza. ACM Capital Partners II, L.P. is the sole general partner of Adams Capital Management, L.P. Messrs. Adams, Hulley, Sullivan and Frezza are individual general partners of ACM Capital Partners II, L.P. Item 2(b). ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE: The address of the principal business office of Adams Capital Management, L.P., ACM Capital Partners II, L.P., and Messrs. Adams, Hulley, Sullivan and Frezza is 518 Broad Street, Sewickley, PA 15143. Item 2(c). CITIZENSHIP: Each of Adams Capital Management, L.P. and ACM Capital Partners II, L.P. is a limited partnership organized under the laws of the State of Delaware. Each of Messrs. Adams, Hulley, Sullivan and Frezza is a United States citizen. Item 2(d). TITLE OF CLASS OF SECURITIES: Common Stock, $.01 par value per share. Item 2(e). CUSIP NUMBER: 00941P 10 6 Item 3. IF THIS STATEMENT IS FILED PURSUANT TO RULES 13d-1(b), OR 13d- 2(b), CHECK WHETHER THE PERSON FILING IS A: Not Applicable. Item 4. OWNERSHIP. (a) Amount Beneficially Owned: Each of Adams Capital Management, L.P. and ACM Capital Partners II, L.P. (individually an "Entity" and collectively the "Entities") may be deemed to own beneficially 1,641,874 shares of Common Stock as of December 31, 1999. Each of Messrs. Hulley, Sullivan and Frezza may be deemed to own beneficially 1,641,874 shares of Common Stock as of December 31, 1999. Mr. Adams may be deemed to own beneficially 1,913,467 shares of Common Stock as of December 31, 1999 (includes 1,641,874 shares held by Adams Capital Management, L.P. and 271,593 shares held by another entity in which Mr. Adams has shared voting and dispositive powers). Page 8 of 11 9 As of December 31, 1999, Adams Capital Management, L.P. was the record holder of 1,641,874 shares of Common Stock. The shares held of record by Adams Capital Management, L.P. referred to herein as the "Record Shares." In its capacity as sole general partner of Adams Capital Management, L.P., ACM Capital Partners II, L.P. may be deemed to own beneficially 1,641,874 shares of Common Stock. In their capacities as individual general partners of ACM Capital Partners II, L.P., each of Messrs. Hulley, Sullivan and Frezza may be deemed to own beneficially 1,641,874 shares of Common Stock and Mr. Adams may be deemed to own beneficially 1,913,467 shares of Common Stock as of December 31, 1999 (includes 1,641,874 shares held by Adams Capital Management, L.P. and 271,593 shares held by another entity in which Mr. Adams has shared voting and dispositive powers). Each of the reporting persons expressly disclaims beneficial ownership of any shares of Common Stock of AirNet Communications Corporation, except in the case of Adams Capital Management, L.P. for the 1,641,874 shares which it holds of record. (b) Percent of Class: Adams Capital Management, L.P.: 7.37% ACM Capital Partners II, L.P.: 7.37% Joel P. Adams: 8.61% William C. Hulley: 7.37% Jerry S. Sullivan: 7.37% William A. Frezza: 7.37% The foregoing percentages are calculated based on the 22,223,736 shares of Common Stock reported to be outstanding on the Form S-1 Registration Statement, as amended, of AirNet Communications Corporation dated as of November 12, 1999 in addition to warrants exercised on December 9, 1999 by Adams Capital Management, L.P. in the amount of 49,067 shares of Common Stock. (c) Number of shares as to which such person has: (i) sole power to vote or to direct the vote: 0 shares for each reporting person (ii) shared power to vote or to direct the vote: Adams Capital Management, L.P.: 1,641,874 ACM Capital Partners II, L.P.: 1,641,874 Joel P. Adams: 1,913,467 William C. Hulley: 1,641,874 Jerry S. Sullivan: 1,641,874 William A. Frezza: 1,641,874 Page 9 of 11 10 (iii) sole power to dispose or direct the disposition of: 0 shares for each reporting person (iv) shared power to dispose or direct the disposition of: Adams Capital Management, L.P.: 1,641,874 ACM Capital Partners II, L.P.: 1,641,874 Joel P. Adams: 1,913,467 William C. Hulley: 1,641,874 Jerry S. Sullivan: 1,641,874 William A. Frezza: 1,641,874 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. Not Applicable. Item 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP. Not Applicable. The reporting persons expressly disclaim membership in a "group" as defined in Rule 13d-1(b)(ii)(H). Item 9. NOTICE OF DISSOLUTION OF GROUP. Not Applicable. Item 10. CERTIFICATION. Not Applicable. This statement on Schedule 13G is not filed pursuant to Rule 13d-1(b). Page 10 of 11 11 SIGNATURES After reasonable inquiry and to the best of our knowledge and belief, we certify that the information set forth in this statement is true, complete and correct. Dated: February 11, 2000 ADAMS CAPITAL MANAGEMENT, L.P. By: ACM Capital Partners II, L.P. By: /s/ Joel P. Adams -------------------------------- Joel P. Adams General Partner ACM CAPITAL PARTNERS II, L.P. By: /s/ Joel P. Adams -------------------------------- Joel P. Adams General Partner /s/ Joel P. Adams ----------------------------------- Joel P. Adams /s/ William C. Hulley ----------------------------------- William C. Hulley /s/ Jerry S. Sullivan ----------------------------------- Jerry S. Sullivan /s/ William A. Frezza ----------------------------------- William A. Frezza Page 11 of 11 -----END PRIVACY-ENHANCED MESSAGE-----