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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D/A
Under the Securities Exchange Act of 1934
(Amendment No. 2)
RADCOM LTD.
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(Name of Issuer)
Ordinary Shares, par value NIS 0.05 per share
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(Title of Class of Securities)
M 81865103
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(CUSIP Number)
David Zigdon
c/o RADCOM Ltd.
24 Raoul Wallenberg Street
Tel Aviv 6719, Israel
972-3-645-5004
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(Name, Address and Telephone Number of Person Authorized to Receive Notices
and Communications)
November 29, 2002
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(Date of Event which Requires Filing of This Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition that is the subject of this Schedule 13D, and is filing this
schedule because of ss.ss. 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the
following box [_]. Note: Schedules filed in paper format shall include a signed
original and five copies of the schedule, including all exhibits. See ss.
240.13d-7(b) for other parties to whom copies are to be sent.
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 (the "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).
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1 NAME OF REPORTING PERSON: Zohar Zisapel
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON (ENTITIES ONLY):
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
(a) [ ]
(b) [x]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS: PF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEM 2(d) OR 2(e): [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION: Israel
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NUMBER OF 7 SOLE VOTING POWER: 2,547,008 (See Item 5)
SHARES ---------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 0
OWNED BY ---------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 2,547,008 (See Item 5)
REPORTING ---------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 0
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY
REPORTING PERSON: 2,547,008 (See Item 5)
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES: [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 24.1%
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14 TYPE OF REPORTING PERSON: IN
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1 NAME OF REPORTING PERSON: Klil & Michael Ltd.
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON (ENTITIES ONLY): Not Applicable.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
(a) [ ]
(b) [x]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS: Not applicable
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEM 2(d) OR 2(e): [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION: Israel
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NUMBER OF 7 SOLE VOTING POWER: 0
SHARES -----------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 2,547,008 (See Item 5)
OWNED BY -----------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING -----------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 2,547,008 (See Item 5)
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY
REPORTING PERSON: 2,547,008 (See Item 5)
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES: [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 24.1%
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14 TYPE OF REPORTING PERSON: CO
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1 NAME OF REPORTING PERSON: RAD Data Communications Ltd.
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON (ENTITIES ONLY): Not Applicable.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP:
(a) [ ]
(b) [x]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS: Not applicable.
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEM 2(d) OR 2(e): [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION: Israel
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NUMBER OF 7 SOLE VOTING POWER: 0
SHARES -----------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 2,547,008 (See Item 5)
OWNED BY -----------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING -----------------------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 2,547,008 (See Item 5)
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY
REPORTING PERSON: 2,547,008 (See Item 5)
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES: [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 24.1%
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14 TYPE OF REPORTING PERSON: CO
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This amendment No. 2 amends and restates the Schedule 13D filed
March 19, 2002 and Amendment No. 1 thereto filed October 7, 2002 (together, the
"Schedule 13D"), and is filed by Zohar Zisapel, for and on behalf of himself,
Klil & Michael Ltd. and RAD Data Communications Ltd. (each a "Reporting Person",
and together the Reporting Persons"), with respect to the ordinary shares, par
value NIS 0.05 per share (the "Ordinary Shares"), of RADCOM Ltd. (the
"Company").
Item 1. Security and Issuer.
This statement of beneficial ownership on Schedule 13D (the
"Schedule 13D") relates to ordinary shares, par value NIS 0.05 per share (the
"Ordinary Shares"), of RADCOM Ltd., an Israeli corporation (the "Company"). The
address of the principal executive offices of the Company is 24 Raoul Wallenberg
Street, Tel Aviv 69719, Israel.
Item 2. Identity and Background.
The names of the persons filing this statement are Zohar Zisapel,
Klil & Michael Ltd. and RAD Data Communications Ltd. (each, a "Reporting
Person" and together, the "Reporting Persons"). A copy of the Joint Filing
Agreement among the Reporting Persons is attached hereto as Exhibit A.
The business address of Zohar Zisapel is 24 Raoul Wallenberg St.,
Tel Aviv 69719, Israel. Zohar Zisapel is the Chairman of the Board of RADCOM
Ltd., which is principally engaged in the business of developing, manufacturing,
marketing and supporting high-performance internetworking test analysis
equipment and quality management for data communications and telecommunications
networks. The address of RADCOM Ltd. is 24 Raoul Wallenberg St., Tel Aviv
69719, Israel. Zohar Zisapel is an Israeli citizen.
Klil & Michael Ltd. is a corporation organized under the laws
of the State of Israel. It is primarily engaged in the business of serving as a
holding company for investments made by Zohar Zisapel, including those in
publicly traded Israeli companies. The address of its principal executive
offices is 24 Raoul Wallenberg St., Tel Aviv 69719, Israel. Zohar Zisapel
beneficially owns 100 ordinary shares, or 99% of all the issued and outstanding
ordinary shares, of Klil & Michael Ltd. Zohar Zisapel is the sole director and
Chairman of the Board of Klil & Michael Ltd.
RAD Data Communications Ltd. is a corporation organized under
the laws of the State of Israel. It is primarily engaged in the business of data
communications. The address of its principal executive offices is 24 Raoul
Wallenberg St., Tel Aviv 69719, Israel. Zohar Zisapel beneficially owns
17,078,654 shares of various classes of its capital stock, or 24% of all the
issued and outstanding shares, of RAD Data Communications Ltd. The name,
business address, present principal occupation or employment and citizenship of
each executive officer, director and controlling person of RAD Data
Communications Ltd. is set forth on Schedule B attached hereto.
During the last five years, none of the Reporting Persons or, to their
knowledge, any of the persons listed on Schedule A or Schedule B attached
hereto, has (i) been convicted in a criminal proceeding (excluding traffic
violations or similar misdemeanors) or (ii) been a party to a civil proceeding
of a judicial or administrative body of competent jurisdiction as a result of
which such person was or is subject to a judgment, decree or final order
enjoining future violations of, or prohibiting or mandating activities subject
to, federal or state securities laws on finding any violation with respect to
such laws.
Item 3 Source and Amount of Funds or Other Consideration.
The aggregate amount of funds used by Zohar Zisapel in making
the purchase of 99,700 Ordinary Shares referred to in Item 5(c) hereof was
approximately $97,841. The source of such funds was the personal funds of Zohar
Zisapel.
Item 4. Purpose of Transaction.
The Reporting Persons acquired the Ordinary Shares for
investment purposes. The Reporting Persons may acquire additional securities of
the Company or dispose of securities of the Company at any time and from time to
time in the open market or otherwise. Although the foregoing represents the
range of activities presently contemplated by the Reporting Persons with respect
to the Company, it should be noted that the possible activities of the Reporting
Persons are subject to change at any time.
Zohar Zisapel is the Chairman of the Board of Directors of the
Company. Accordingly, the Reporting Persons will be in a position to influence
the operations and activities of the Company.
Except as set forth above, none the Reporting Persons or, to
their knowledge, any of the persons listed on Schedule A or Schedule B attached
hereto, have any present plans or intentions which would result in or relate to
any of the transactions described in subparagraphs (a) through (j) of Item 4 of
Schedule 13D.
Item 5 Interest in Securities of the Issuer.
(i) The responses of the Reporting Persons to Rows (11) through (13) of pages 2,
3 and 4 of this Amendment No. 2 are incorporated herein by reference. As of
November 29, 2002, the Reporting Persons beneficially owned 2,547,008 Ordinary
Shares, or 24.1% of the total number of Ordinary Shares issued and outstanding.
Of the 2,547,008 Ordinary Shares, 2,302,896 Ordinary Shares, or 21.8% of the
total number of Ordinary Shares issued and outstanding, were owned of record by
Zohar Zisapel; 61,666, or 0.6% of the total number of Ordinary Shares issued and
outstanding, were options granted to Zohar Zisapel to acquire Ordinary Shares
that vest within 60 days of November 29, 2002; 54,500 of the Ordinary Shares, or
0.5% of the total number of Ordinary Shares issued and outstanding, were owned
of record by Klil & Michael Ltd.; and 127,946 Ordinary Shares, or 1.2% of the
total number of Ordinary Shares issued and outstanding, were owned of record by
RAD Data Communications Ltd.
Except as set forth in this Item 5(a), none of the Reporting
Persons or, to their knowledge, any of the persons listed on Schedule A or
Schedule B attached hereto, except for Yehuda Zisapel, beneficially owns any
Ordinary Shares.
(ii) The responses of the Reporting Persons to (i) Rows (7) through (10) of
pages 2, 3 and 4 of this Amendment No. 1 and (ii) Item 5(a) hereof are
incorporated herein by reference.
(iii) From September 24, 2002, through November 29, 2002, Zohar Zisapel
purchased, through open-market transactions executed on the Nasdaq National
Market, 99,700 Ordinary Shares at an average price per share of $0.981. The
Ordinary Shares were purchased on the following dates, in the amounts and for
the prices as shown in the table below.
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Price per Ordinary
Number of Ordinary Share in U.S. Dollars Total Cost in U.S.
Date of Purchase Shares Dollars
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November 5, 2002 3,000 $0.800 $2,400
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November 6, 2002 12,000 $0.926 $11,110
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November 7, 2002 5,300 $0.976 $5,175
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November 8, 2002 47,500 $1.014 $48,167
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November 11, 2002 6,500 $0.976 $6,343
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November 15, 2002 300 $0.940 $282
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November 18, 2002 5,200 $0.939 $4,882
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November 19, 2002 12,300 $0.959 $11,790
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November 20, 2002 1,600 $1.020 $1,632
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November 29, 2002 6,000 $1.010 $6,060
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Except as set forth above, none of the Reporting Persons or,
to their knowledge, any of the persons listed on Schedule A or Schedule B
attached hereto, has effected any transaction in the Ordinary Shares since
September 24, 2002.
(iv) Not applicable.
(v) Not applicable.
Item 6. Contracts, Agreements, Understandings or Relationships with respect
to Securities of the Issuer.
Not applicable.
Item 7. Material to be Filed as Exhibits.
EXHIBIT NO. DESCRIPTION
1. Joint Filing Agreement by and among Zohar Zisapel,
Klil & Michael Ltd. and RAD Data Communications
Ltd., dated as of December 30, 2002.
SIGNATURES
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement is true,
complete and correct.
/s/ Zohar Zisapel
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Zohar Zisapel
KLIL & MICHAEL LTD.
By: /s/ Zohar Zisapel
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Name: Zohar Zisapel
Title: Sole Director and Manager
RAD DATA COMMUNICATIONS LTD.
By: /s/ Zohar Zisapel
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Name: Zohar Zisapel
Title: Director and Controlling Person
Dated: December 30, 2002
Schedule A
DIRECTORS AND EXECUTIVE OFFICERS OF KLIL & MICHAEL LTD.
Zohar Zisapel is a citizen of the State of Israel.
Name Present Business Address Present Principal Occupation
Executive Officer,
Director and
Controlling Person:
Zohar Zisapel 24 Raoul Wallenberg St., Chairman of the Board of
Tel Aviv 69719, Israel RADCOM Ltd.
Schedule B
DIRECTORS AND EXECUTIVE OFFICERS OF RAD DATA COMMUNICATIONS LTD.
Unless otherwise specified, each person listed below is a
citizen of the State of Israel.
Name Present Business Address Present Principal Occupation
Executive Officers:
Efraim Wachtel 24 Raoul Wallenberg St., President and Chief Executive
Tel Aviv 69719, Israel Officer of RAD Data
Communications Ltd.
Directors and
Controlling
Persons:
Zohar Zisapel 24 Raoul Wallenberg St., Director of RADCOM Ltd.
Tel Aviv 69719, Israel
Yehuda Zisapel 24 Raoul Wallenberg St., Director of various
Tel Aviv 69719, Israel corporations
Nava Zisapel 12 Hanechoshet St., President and Chief Executive
Tel Aviv 69710, Israel Officer of Neurim
Pharmaceuticals (1991) Ltd.;
Professor at Tel Aviv
University
Exhibit 1
JOINT FILING AGREEMENT
In accordance with Rule 13d-1(k) under the Securities Exchange Act of 1934,
as amended, the persons named below each hereby agrees that the Schedule 13D
filed herewith and any amendments thereto relating to the Ordinary shares of the
Company is filed jointly on behalf of each such person.
/s/ Zohar Zisapel
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Zohar Zisapel
KLIL & MICHAEL LTD.
By: /s/ Zohar Zisapel
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Name: Zohar Zisapel
Title: Sole Director and Manager
RAD DATA COMMUNICATIONS LTD.
By: /s/ Zohar Zisapel
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Name: Zohar Zisapel
Title: Director and Controlling Person
Dated: December 30, 2002