SEC Info - DBS Investors LLC, et al. - ‘SC 13G’ on 8/11/03 re: Pegasus Communications Corp

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DBS Investors LLC, et al. – ‘SC 13G’ on 8/11/03 re: Pegasus Communications Corp

On: Monday, 8/11/03, at 12:55pm ET · Accession #: 950142-3-1341 · File #: 5-61381

  As Of                Filer                Filing    For·On·As Docs:Size              Issuer               Agent

 8/11/03  DBS Investors LLC                 SC 13G                 1:19K  Pegasus Communications Corp       Paul Weiss Ri… LLP 01/FA
          DBS Investors, LLC
          Pegasus Capital LLC
          Pegasus Investors II GP, LLC
          Pegasus Investors II, LP
          Pegasus Partners II, L.P.

Statement of Beneficial Ownership — Schedule 13G
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: SC 13G      Statement of Beneficial Ownership                     11     37K

Document Table of Contents

Page	(sequential)	\|	(alphabetic)	Top
			Alternative Formats (Word, et al.) Certification Identification and Classification of Members of the Group Identification and Classification of Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company Name of Issuer Names of Persons Filing Notice of Dissolution of Group Ownership of Five Percent or Less of A Class Ownership of More Than Five Percent on Behalf of Another Person This statement is not filed pursuant to either Rule 13d-1(b) or 13d-2(b) or (c) (c)
1	1st Page - Filing Submission
7	Item 1. (a). Name of Issuer
"	Item 2. (a). Names of Persons Filing
"	Item 3. This statement is not filed pursuant to either Rule 13d-1(b) or 13d-2(b) or (c) (c)
8	Item 5. Ownership of Five Percent or Less of A Class
"	Item 6. Ownership of More Than Five Percent on Behalf of Another Person
"	Item 7. Identification and Classification of Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company
"	Item 8. Identification and Classification of Members of the Group
"	Item 9. Notice of Dissolution of Group
9	Item 10. Certification

SC 13G 1st Page of 11 TOC ↑Top Previous Next ↓Bottom Just 1st
 
 UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

 Information Statement Pursuant to Rules 13d-1 and 13d-2
 Under the Securities Exchange Act of 1934
 (Amendment No. __)*

PEGASUS COMMUNICATIONS CORPORATION
----------------------------------
(Name of Issuer)

 CLASS A COMMON STOCK, PAR VALUE $0.01 PER SHARE
 -----------------------------------------------
(Title of Class of Securities)

 705904 10 0
 -----------
(CUSIP Number)

AUGUST 1, 2003
--------------
 (Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule 
is filed:                                                                       

[_]      Rule 13d-1(b)                                        
[X]      Rule 13d-1(c)                                        
[_]      Rule 13d-1(d)                                        

*The remainder of this cover page shall be filled out for a reporting person's  
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter           
disclosures provided in a prior cover page.                                     

The information required on the reminder 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).                                                                         

SC 13G 2nd Page of 11 TOC 1st Previous Next ↓Bottom Just 2nd
CUSIP NO. 705904 10 0           SCHEDULE 13G                        Page 2 of 11

--------------------------------------------------------------------------------
1.       Name of Reporting Person                                               
S.S. or I.R.S. Identification No. of Above Person             

DBS Investors, LLC                                            
--------------------------------------------------------------------------------
2.       Check the Appropriate Box if a Member of a Group                       
                                                           (a)     [X]
                                                           (b)     [_]
--------------------------------------------------------------------------------
3.       S.E.C. Use Only                                                        

--------------------------------------------------------------------------------
4.       Citizenship or Place of Organization                                   

Delaware                                                      
--------------------------------------------------------------------------------
Number of Shares        (5)     Sole Voting Power                     0         
Beneficially            (6)     Shared Voting Power             550,000         
Owned by Each           (7)     Sole Dispositive Power                0         
Reporting Person        (8)     Shared Dispositive Power        550,000         
--------------------------------------------------------------------------------
9.       Aggregate Amount Beneficially Owned by Each Reporting Person           

550,000 (1)                                                   
--------------------------------------------------------------------------------
10.      Check if the Aggregate Amount in Row (9) Excludes Certain              
Shares                                                        
                                                                   [_]
--------------------------------------------------------------------------------
11.      Percent of Class Represented by Amount in Row (9)                      

10.3% (2)                                                   
--------------------------------------------------------------------------------
12.      Type of Reporting Person                                               

OO                                                            
--------------------------------------------------------------------------------
------------------------                                                        
1    Represents 550,000 shares of Class A Common Stock (as defined in Item 2)   
issuable upon the exchange, on a one-for-one basis and under certain  
     circumstances set forth in the Warrant Agreement (as defined in Item 4), of
     550,000 shares of the Non-Voting Common Stock (as defined in Item 4), which
are in turn issuable upon exercise of 550,000 warrants acquired by the
   Reporting Persons pursuant to the Warrant Agreement. The number of shares
of Non-Voting Common Stock issuable upon exercise of each warrant may 
  increase under certain circumstances set forth in the Warrant Agreement.

2    Based on a total number of 4,777,618 shares of Class A Common Stock        
    outstanding as of August 6, 2003, which number was provided by the Issuer.

SC 13G 3rd Page of 11 TOC 1st Previous Next ↓Bottom Just 3rd
CUSIP NO. 705904 10 0           SCHEDULE 13G                        Page 3 of 11

--------------------------------------------------------------------------------
1.       Name of Reporting Person                                               
S.S. or I.R.S. Identification No. of Above Person             

Pegasus Partners II, L.P.                                     
--------------------------------------------------------------------------------
2.       Check the Appropriate Box if a Member of a Group                       
                                                           (a)     [X]
                                                           (b)     [_]
--------------------------------------------------------------------------------
3.       S.E.C. Use Only                                                        

--------------------------------------------------------------------------------
4.       Citizenship or Place of Organization                                   

Delaware                                                      
--------------------------------------------------------------------------------
Number of Shares        (5)     Sole Voting Power                     0         
Beneficially            (6)     Shared Voting Power             550,000         
Owned by Each           (7)     Sole Dispositive Power                0         
Reporting Person        (8)     Shared Dispositive Power        550,000         
--------------------------------------------------------------------------------
9.       Aggregate Amount Beneficially Owned by Each Reporting Person           

550,000 (3)                                                   
--------------------------------------------------------------------------------
10.      Check if the Aggregate Amount in Row (9) Excludes Certain              
Shares                                                        
                                                                   [_]
--------------------------------------------------------------------------------
11.      Percent of Class Represented by Amount in Row (9)                      

10.3% (4)                                                   
--------------------------------------------------------------------------------
12.      Type of Reporting Person                                               

PN                                                            
--------------------------------------------------------------------------------
------------------------                                                        
3    Represents 550,000 shares of Class A Common Stock (as defined in Item 2)   
issuable upon the exchange, on a one-for-one basis and under certain  
     circumstances set forth in the Warrant Agreement (as defined in Item 4), of
     550,000 shares of the Non-Voting Common Stock (as defined in Item 4), which
are in turn issuable upon exercise of 550,000 warrants acquired by the
   Reporting Persons pursuant to the Warrant Agreement. The number of shares
of Non-Voting Common Stock issuable upon exercise of each warrant may 
  increase under certain circumstances set forth in the Warrant Agreement.

4    Based on a total number of 4,777,618 shares of Class A Common Stock        
    outstanding as of August 6, 2003, which number was provided by the Issuer.

SC 13G 4th Page of 11 TOC 1st Previous Next ↓Bottom Just 4th
CUSIP NO. 705904 10 0           SCHEDULE 13G                        Page 4 of 11

--------------------------------------------------------------------------------
1.       Name of Reporting Person                                               
S.S. or I.R.S. Identification No. of Above Person             

Pegasus Investors II, LP                                      
--------------------------------------------------------------------------------
2.       Check the Appropriate Box if a Member of a Group                       
                                                           (a)     [X]
                                                           (b)     [_]
--------------------------------------------------------------------------------
3.       S.E.C. Use Only                                                        

--------------------------------------------------------------------------------
4.       Citizenship or Place of Organization                                   

Delaware                                                      
--------------------------------------------------------------------------------
Number of Shares        (5)     Sole Voting Power                     0         
Beneficially            (6)     Shared Voting Power             550,000         
Owned by Each           (7)     Sole Dispositive Power                0         
Reporting Person        (8)     Shared Dispositive Power        550,000         
--------------------------------------------------------------------------------
9.       Aggregate Amount Beneficially Owned by Each Reporting Person           

550,000 (5)                                                   
--------------------------------------------------------------------------------
10.      Check if the Aggregate Amount in Row (9) Excludes Certain              
Shares                                                        
                                                                   [_]
--------------------------------------------------------------------------------
11.      Percent of Class Represented by Amount in Row (9)                      

10.3% (6)                                                   
--------------------------------------------------------------------------------
12.      Type of Reporting Person                                               

PN                                                            
--------------------------------------------------------------------------------
------------------------                                                        
5    Represents 550,000 shares of Class A Common Stock (as defined in Item 2)   
issuable upon the exchange, on a one-for-one basis and under certain  
     circumstances set forth in the Warrant Agreement (as defined in Item 4), of
     550,000 shares of the Non-Voting Common Stock (as defined in Item 4), which
are in turn issuable upon exercise of 550,000 warrants acquired by the
   Reporting Persons pursuant to the Warrant Agreement. The number of shares
of Non-Voting Common Stock issuable upon exercise of each warrant may 
  increase under certain circumstances set forth in the Warrant Agreement.

6    Based on a total number of 4,777,618 shares of Class A Common Stock        
    outstanding as of August 6, 2003, which number was provided by the Issuer.

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CUSIP NO. 705904 10 0           SCHEDULE 13G                        Page 5 of 11

--------------------------------------------------------------------------------
1.       Name of Reporting Person                                               
S.S. or I.R.S. Identification No. of Above Person             

Pegasus Investors II GP, LLC                                  
--------------------------------------------------------------------------------
2.       Check the Appropriate Box if a Member of a Group                       
                                                           (a)     [X]
                                                           (b)     [_]
--------------------------------------------------------------------------------
3.       S.E.C. Use Only                                                        

--------------------------------------------------------------------------------
4.       Citizenship or Place of Organization                                   

Delaware                                                      
--------------------------------------------------------------------------------
Number of Shares        (5)     Sole Voting Power                     0         
Beneficially            (6)     Shared Voting Power             550,000         
Owned by Each           (7)     Sole Dispositive Power                0         
Reporting Person        (8)     Shared Dispositive Power        550,000         
--------------------------------------------------------------------------------
9.       Aggregate Amount Beneficially Owned by Each Reporting Person           

550,000 (7)                                                   
--------------------------------------------------------------------------------
10.      Check if the Aggregate Amount in Row (9) Excludes Certain              
Shares                                                        
                                                                   [_]
--------------------------------------------------------------------------------
11.      Percent of Class Represented by Amount in Row (9)                      

10.3% (8)                                                   
--------------------------------------------------------------------------------
12.      Type of Reporting Person                                               

OO                                                            
--------------------------------------------------------------------------------
------------------------                                                        
7    Represents 550,000 shares of Class A Common Stock (as defined in Item 2)   
issuable upon the exchange, on a one-for-one basis and under certain  
     circumstances set forth in the Warrant Agreement (as defined in Item 4), of
     550,000 shares of the Non-Voting Common Stock (as defined in Item 4), which
are in turn issuable upon exercise of 550,000 warrants acquired by the
   Reporting Persons pursuant to the Warrant Agreement. The number of shares
of Non-Voting Common Stock issuable upon exercise of each warrant may 
  increase under certain circumstances set forth in the Warrant Agreement.

8    Based on a total number of 4,777,618 shares of Class A Common Stock        
    outstanding as of August 6, 2003, which number was provided by the Issuer.

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CUSIP NO. 705904 10 0           SCHEDULE 13G                        Page 6 of 11

--------------------------------------------------------------------------------
1.       Name of Reporting Person                                               
S.S. or I.R.S. Identification No. of Above Person             

Pegasus Capital LLC                                           
--------------------------------------------------------------------------------
2.       Check the Appropriate Box if a Member of a Group                       
                                                           (a)     [X]
                                                           (b)     [_]
--------------------------------------------------------------------------------
3.       S.E.C. Use Only                                                        

--------------------------------------------------------------------------------
4.       Citizenship or Place of Organization                                   

Conenecticut                                                  
--------------------------------------------------------------------------------
Number of Shares        (5)     Sole Voting Power                     0         
Beneficially            (6)     Shared Voting Power             550,000         
Owned by Each           (7)     Sole Dispositive Power                0         
Reporting Person        (8)     Shared Dispositive Power        550,000         
--------------------------------------------------------------------------------
9.       Aggregate Amount Beneficially Owned by Each Reporting Person           

550,000 (9)                                                   
--------------------------------------------------------------------------------
10.      Check if the Aggregate Amount in Row (9) Excludes Certain              
Shares                                                        
                                                                   [_]
--------------------------------------------------------------------------------
11.      Percent of Class Represented by Amount in Row (9)                      

10.3% (10)                                                  
--------------------------------------------------------------------------------
12.      Type of Reporting Person                                               

OO                                                            
--------------------------------------------------------------------------------
------------------------                                                        
9    Represents 550,000 shares of Class A Common Stock (as defined in Item 2)   
issuable upon the exchange, on a one-for-one basis and under certain  
     circumstances set forth in the Warrant Agreement (as defined in Item 4), of
     550,000 shares of the Non-Voting Common Stock (as defined in Item 4), which
are in turn issuable upon exercise of 550,000 warrants acquired by the
   Reporting Persons pursuant to the Warrant Agreement. The number of shares
of Non-Voting Common Stock issuable upon exercise of each warrant may 
  increase under certain circumstances set forth in the Warrant Agreement.

10   Based on a total number of 4,777,618 shares of Class A Common Stock        
    outstanding as of August 6, 2003, which number was provided by the Issuer.

SC 13G 7th Page of 11 TOC 1st Previous Next ↓Bottom Just 7th
CUSIP NO. 705904 10 0           SCHEDULE 13G                        Page 7 of 11

Item 1.           (a)      NAME OF ISSUER                                       

Pegasus Communications Corporation          

            (b)      ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES

225 City Line Avenue, Suite 200             
Bala Cynwyd, PA  19004                      

Item 2.           (a)      NAMES OF PERSONS FILING                              

DBS Investors, LLC ("DBS")                  
  Pegasus Partners II, L.P. ("Pegasus Partners")
  Pegasus Investors II, LP ("Pegasus Investors")
Pegasus Investors II GP, LLC ("Pegasus")    
Pegasus Capital LLC ("Pegasus Capital")     

               All the above set forth in this Item 2(a), collectively the
"Reporting Persons".                        

 (b)      ADDRESS OF PRINCIPAL BUSINESS OFFICE

c/o Pegasus Partners II, L.P.               
99 River Road                               
Cos Cob, CT 06807-2514                      

(c)      CITIZENSHIP                        

DBS - Delaware                              
Pegasus Partners - Delaware                 
Pegasus Investors - Delaware                
Pegasus - Delaware                          
Pegasus Capital - Connecticut               

(d)      TITLE OF CLASS OF SECURITIES       

                 Class A Common Stock, par value $0.01 per share (the "Class A
Common Stock")                              

(e)      CUSIP NUMBER                       

705904 10 0                                 

Item 3.           This statement is not filed pursuant to either Rule 13d-1(b)  
or 13d-2(b) or (c) (c).                     

SC 13G 8th Page of 11 TOC 1st Previous Next ↓Bottom Just 8th
CUSIP NO. 705904 10 0           SCHEDULE 13G                        Page 8 of 11

Item 4.           As of August 1, 2003, DBS Investors, LLC directly beneficially
             owned 550,000 warrants, exercisable for 550,000 shares of
               Issuer's Non-Voting Common Stock, par value $0.01 per share
                 (the "Non-Voting Common Stock"), which are exchangeable, on a
                one-for-one basis, into 550,000 shares of the Class A Common
                  Stock (the "Shares"), under certain circumstances set forth in
           the Warrant and Investor Rights Agreement (the "Warrant
                  Agreement"), dated as of April 2, 2003 and amended on July 30,
             2003 and August 1, 2003, among the Issuer and the parties
                named therein, or 10.3% of the issued and outstanding shares
               of Class A Common Stock. The number of shares of Non-Voting
           Common Stock issuable upon exercise of each warrant may
                 increase under certain circumstances set forth in the Warrant
Agreement.                                  

                 Pegasus Partners is the sole member of DBS. Pegasus Investors
              is the general partner of Pegasus Partners. Pegasus is the
                 general partner of Pegasus Investors. Pegasus is wholly owned
              by Pegasus Capital, which is controlled by Craig Cogut. By
                virtue of the foregoing, the Reporting Persons may be deemed
                to share voting power and power to direct the disposition of
                 the Shares. Accordingly, each of the Reporting Persons may be
                deemed to own beneficially all of the Shares or 10.3% of the
          issued and outstanding Shares of Class A Common Stock.

Item 5.           OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS                  

Not applicable.                             

Item 6.           OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER      
PERSON                                      

See Item 4.                                 

Item 7.           IDENTIFICATION AND CLASSIFICATION OF SUBSIDIARY WHICH ACQUIRED
                THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY

Not applicable.                             

Item 8.           IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP     

Not applicable.                             

Item 9.           NOTICE OF DISSOLUTION OF GROUP                                

Not applicable.                             

SC 13G 9th Page of 11 TOC 1st Previous Next ↓Bottom Just 9th
CUSIP NO. 705904 10 0           SCHEDULE 13G                        Page 9 of 11

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.                     

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

SC 13G 10th Page of 11 TOC 1st Previous Next ↓Bottom Just 10th
CUSIP NO. 705904 10 0           SCHEDULE 13G                       Page 10 of 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 as of August 11, 2003                                                     

        DBS INVESTORS, LLC

                 By:  /s/ Jonathan I. Berger
                                       ---------------------------------------
                          Name:   Jonathan I. Berger
                               Title:  President and Secretary

               PEGASUS PARTNERS II, L.P.

                   By:  Pegasus Investors II, LP
                   Its general partner

                       By:  Pegasus Investors II GP, LLC
                   Its general partner

                 By:  /s/ Jonathan I. Berger
                                       ---------------------------------------
                          Name:   Jonathan I. Berger
                      Title:  Vice President

              PEGASUS INVESTORS II, LP

                       By:  Pegasus Investors II GP, LLC
                   Its general partner

                 By:  /s/ Jonathan I. Berger
                                       ---------------------------------------
                          Name:   Jonathan I. Berger
                      Title:  Vice President

                  PEGASUS INVESTORS II GP, LLC

                 By:  /s/ Jonathan I. Berger
                                       ---------------------------------------
                          Name:   Jonathan I. Berger
                      Title:  Vice President

SC 13G Last Page of 11 TOC 1st Previous Next ↓Bottom Just 11th
CUSIP NO. 705904 10 0           SCHEDULE 13G                       Page 11 of 11

         PEGASUS CAPITAL LLC

          By:  /s/ Craig Cogut
                                       ---------------------------------------
                   Name:   Craig Cogut
                       Title:  Managing Member

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Dates Referenced Herein and Documents Incorporated by Reference

		Referenced-On Page
This ‘SC 13G’ Filing	Date	First	Last	Other Filings

Filed on:	8/11/03	10		3, SC 13G
	8/6/03	2	6	8-K
	8/1/03	1	8	3, 8-K
	7/30/03	8
	4/2/03	8		8-K
				List all Filings

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Filing Submission 0000950142-03-001341 – Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

DBS Investors LLC, et al. – ‘SC 13G’ on 8/11/03 re: Pegasus Communications Corp

On: Monday, 8/11/03, at 12:55pm ET · Accession #: 950142-3-1341 · File #: 5-61381

Statement of Beneficial Ownership — Schedule 13GFiling Table of Contents

Document Table of Contents

Dates Referenced Herein and Documents Incorporated by Reference

Statement of Beneficial Ownership — Schedule 13G
Filing Table of Contents