SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
----------------------
AMENDMENT NO. 3 TO
SCHEDULE 13D
(RULE 13D-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULE 13D-1(A) AND AMENDMENTS THERETO FILED PURSUANT TO
RULE 13D-2(A)
LENDINGTREE, INC.
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(Name of Issuer)
COMMON STOCK, PAR VALUE $0.01 PER SHARE
--------------------------------------------------------------------------------
(Title of Class of Securities)
526020-10-5
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(CUSIP Number)
Capital Z Management, LLC
54 Thompson Street
New York, New York 10012
Attention: David A. Spuria, Esq.
(212) 965-0800
--------------------------------------------------------------------------------
(Name, address and telephone number of person
authorized to receive notices and communications)
May 24, 2001
--------------------------------------------------------------------------------
(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 Rule 13d-1(e), (f) or (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 Rule 13d-7(b) for other
parties to whom copies are to be sent.
NY2:\1051675\01\MJH701!.DOC\33560.0073
========== ======================================================================================================
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (entities only)
SPECIALTY FINANCE PARTNERS
---------- ------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X]
---------- ------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
---------- ------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
00 - CONTRIBUTIONS FROM PARTNERS
---------- ------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEM 2(d) or 2(e) [ ]
---------- ------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
BERMUDA
--------------------------------------------------- --------- ---------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
SHARES 7,956,420*
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
--------------------------------------------------- --------- ---------------------------------------------------
8 SHARED VOTING POWER
--------------------------------------------------- --------- ---------------------------------------------------
9 SOLE DISPOSITIVE POWER
7,956,420*
--------------------------------------------------- --------- ---------------------------------------------------
10 SHARED DISPOSITIVE POWER
---------- ------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,956,420*
---------- ------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11
EXCLUDES CERTAIN SHARES [ ]
---------- ------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
35.0%
---------- ------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
---------- ------------------------------------------------------------------------------------------------------
* Assumes conversion of 4,000,000 shares of Series A 8% Convertible Preferred
Stock beneficially owned by such Reporting Person. See Item 5.
2
========== ======================================================================================================
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (entities only)
CAPITAL Z FINANCIAL SERVICES FUND II, L.P.*
---------- ------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
---------- ------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
---------- ------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
NOT APPLICABLE
---------- ------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEM 2(d) or 2(e) [ ]
---------- ------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
BERMUDA
--------------------------------------------------- --------- ---------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
--------------------------------------------------- --------- ---------------------------------------------------
8 SHARED VOTING POWER
7,956,420*
--------------------------------------------------- --------- ---------------------------------------------------
9 SOLE DISPOSITIVE POWER
--------------------------------------------------- --------- ---------------------------------------------------
10 SHARED DISPOSITIVE POWER
7,956,420*
---------- ------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,956,420*
---------- ------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11
EXCLUDES CERTAIN SHARES [ ]
---------- ------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
35.0%
---------- ------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
---------- ------------------------------------------------------------------------------------------------------
* Solely in its capacity as a general partner of Specialty Finance Partners.
3
========== ======================================================================================================
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (entities only)
CAPITAL Z PARTNERS, L.P.*
---------- ------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
---------- ------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
---------- ------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
NOT APPLICABLE
---------- ------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEM 2(d) or 2(e) [ ]
---------- ------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
BERMUDA
--------------------------------------------------- --------- ---------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
--------------------------------------------------- --------- ---------------------------------------------------
8 SHARED VOTING POWER
7,956,420*
--------------------------------------------------- --------- ---------------------------------------------------
9 SOLE DISPOSITIVE POWER
--------------------------------------------------- --------- ---------------------------------------------------
10 SHARED DISPOSITIVE POWER
7,956,420*
---------- ------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,956,420*
---------- ------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11
EXCLUDES CERTAIN SHARES [ ]
---------- ------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
35.0%
---------- ------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
---------- ------------------------------------------------------------------------------------------------------
* Solely in its capacity as the sole general partner of Capital Z Financial
Services Fund II, L.P.
4
========== ======================================================================================================
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (entities only)
CAPITAL Z PARTNERS, LTD.*
---------- ------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
---------- ------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
---------- ------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
NOT APPLICABLE
---------- ------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEM 2(d) or 2(e) [ ]
---------- ------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
BERMUDA
--------------------------------------------------- --------- ---------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
--------------------------------------------------- --------- ---------------------------------------------------
8 SHARED VOTING POWER
7,956,420*
--------------------------------------------------- --------- ---------------------------------------------------
9 SOLE DISPOSITIVE POWER
--------------------------------------------------- --------- ---------------------------------------------------
10 SHARED DISPOSITIVE POWER
7,956,420*
---------- ------------------------------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,956,420*
---------- ------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11
EXCLUDES CERTAIN SHARES [ ]
---------- ------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
35.0%
---------- ------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
---------- ------------------------------------------------------------------------------------------------------
* Solely in its capacity as the sole general partner of Capital Z Partners, L.P.
5
This Amendment No. 3 amends the statement on Schedule 13D, dated
October 10, 2000 (the "Initial Schedule 13D"), as amended in
certain respects by Amendment No. 1 thereto ("Amendment No. 1")
and Amendment No. 2 thereto ("Amendment No. 2" and together with
the Initial Schedule 13D and Amendment No. 1, the "Schedule
13D"), and is filed jointly on behalf of Specialty Finance
Partners, a Bermuda general partnership ("Specialty Finance
Partners"), Capital Z Financial Services Fund II, L.P., a
Bermuda limited partnership ("Capital Z Fund II"), Capital Z
Partners, L.P., a Bermuda limited partnership ("Capital Z
L.P."), and Capital Z Partners, Ltd., a Bermuda corporation
("Capital Z Ltd.") (each, a "Reporting Person" and together, the
"Reporting Persons"), with respect to the shares of Common
Stock, $0.01 par value per share (the "Common Stock") of
LendingTree, Inc. (the "Company").
The Schedule 13D is hereby amended as follows:
ITEM 5. INTEREST IN SECURITIES OF ISSUER.
The information contained in Item 5(a) -(b) of Amendment No. 2
is hereby amended and restated in its entirety as follows:
Specialty Finance Partners may be deemed to beneficially own in
the aggregate 7,956,420 shares of Common Stock by virtue of the
fact that it is the holder of record of 3,956,420 shares of
Common Stock and of its expected ability to initially convert
(as discussed in Item 6 of Amendment No. 1) 4,000,000 shares of
Series A 8% Convertible Preferred Stock, $0.01 par value per
share (the "Series A Preferred Stock") into 4,000,000 shares of
Common Stock. Specialty Finance Partners has the sole power to
vote or direct the vote, or to dispose or to direct the
disposition, of such shares.
Capital Z Fund II, Capital Z L.P. and Capital Z Ltd. may be
deemed to beneficially own in the aggregate 7,956,420 shares of
the Common Stock of the Company by virtue of Specialty Finance
Partners' ownership of shares of Common Stock and its expected
ability to convert the shares of Series A Preferred Stock owned
by it into shares of Common Stock. Each of Capital Z Fund II,
Capital Z L.P. and Capital Z Ltd. has the shared power to vote
or to direct the vote, and to dispose or to direct the
disposition, of such shares.
On an as-converted-to-Common Stock basis, the Reporting Persons'
total beneficial ownership of Common Stock of the Company is
approximately 35.0% (based on calculations made in accordance
with Rule 13d-3(d) of the Securities Exchange Act of 1934, as
amended (the "Exchange Act"), and based on the number of shares
of Common Stock outstanding as of April 30, 2001, and assuming
the shares of Series A Preferred Stock owned by the Reporting
Persons are converted into Common Stock). Each of the Reporting
Persons disclaims beneficial ownership of all securities covered
by this Amendment not owned of record by it.
6
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH
RESPECT TO SECURITIES OF ISSUER.
The information contained in Item 6 of Amendment No.1 is hereby
incorporated by reference herein.
On March 7, 2001, Specialty Finance Partners entered into a
voting agreement (the "Voting Agreement") with the Company and
certain other shareholders in the Company. As a result of having
entered into the Voting Agreement, and only for such time as the
Voting Agreement was in effect, Specialty Finance Partners and
such other shareholders may have been deemed to constitute a
"group" within the meaning of Rule 13d-5 under the Exchange Act.
A copy of the Voting Agreement was filed as an exhibit to
Amendment No. 1 to Schedule 13D filed by the reporting persons
on March 27, 2001. As a result of the matters contemplated
therein being approved by the Company's shareholders, the Voting
Agreement terminated by its terms on May 24, 2001 and, as a
result, any such deemed "group" terminated on that date.
7
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.
Date: June 8, 2001.
SPECIALTY FINANCE PARTNERS
By: /s/ David A. Spuria
---------------------------------------------
David A. Spuria
General Counsel, Vice President of
Administration and Secretary
CAPITAL Z FINANCIAL SERVICES FUND II, L.P.
By: /s/ David A. Spuria
---------------------------------------------
David A. Spuria
General Counsel, Vice President of
Administration and Secretary
CAPITAL Z PARTNERS, L.P.
By: /s/ David A. Spuria
---------------------------------------------
David A. Spuria
General Counsel, Vice President of
Administration and Secretary
CAPITAL Z PARTNERS, LTD.
By: /s/ David A. Spuria
---------------------------------------------
David A. Spuria
General Counsel, Vice President of
Administration and Secretary
8