Amendment to General Statement of Beneficial Ownership — Schedule 13D
Filing Table of Contents
Document/Exhibit Description Pages Size
1: SC 13D/A Schedule 13D/A - Amendment No. 3 11 43K
2: EX-2 Plan of Acquisition, Reorganization, Arrangement, 1 8K
Liquidation or Succession
3: EX-3 Articles of Incorporation/Organization or By-Laws 1 8K
4: EX-4 Instrument Defining the Rights of Security Holders 1 8K
5: EX-5 Opinion re: Legality 1 8K
6: EX-6 Opinion re: Discount on Capital Shares 1 8K
7: EX-7 Opinion re: Liquidation Preference 1 8K
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
-----------------------
SCHEDULE 13D
(Amendment No. 3)
Under the Securities Exchange Act of 1934
-----------------------
Priceline.com Incorporated
(Name of Issuer)
Common Stock, par value $0.008 per share
(Title of Class of Securities)
741503106
(CUSIP Number)
William E. Ford
c/o General Atlantic Service Corporation
3 Pickwick Plaza
Greenwich, Connecticut 06830
Tel. No.: (203) 629-8600
(Name, Address and Telephone Number of
Person Authorized to Receive Notices
and Communications)
-----------------------
February 8, 2000
(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 which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(e), 1(f) or 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 Rule 13d-1(a) for other
parties to whom copies are to be sent.
*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).
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Page 1 of 17 Pages
------------------------ -------------------------
741503106 Page 2 of 17 Pages
------------------------ -------------------------
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
General Atlantic Partners, LLC
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)[X]
(b)[_]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
OO
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [_]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF -0-
SHARES ------------------------------------------------
BENEFICIALLY OWNED 8 SHARED VOTING POWER
BY EACH REPORTING
PERSON 17,418,079
WITH ------------------------------------------------
9 SOLE DISPOSITIVE POWER
-0-
------------------------------------------------
10 SHARED DISPOSITIVE POWER
17,418,079
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
17,418,079
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[_]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
11.9%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
--------------------------------------------------------------------------------
------------------------ -------------------------
741503106 Page 3 of 17 Pages
------------------------ -------------------------
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
General Atlantic Partners 48, L.P.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)[X]
(b)[_]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
OO
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [_]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF -0-
SHARES ------------------------------------------------
BENEFICIALLY OWNED 8 SHARED VOTING POWER
BY EACH REPORTING
PERSON 17,418,079
WITH ------------------------------------------------
9 SOLE DISPOSITIVE POWER
-0-
------------------------------------------------
10 SHARED DISPOSITIVE POWER
17,418,079
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
17,418,079
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[_]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
11.9%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
--------------------------------------------------------------------------------
------------------------ -------------------------
741503106 Page 4 of 17 Pages
------------------------ -------------------------
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
General Atlantic Partners 50, L.P.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)[X]
(b)[_]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
OO
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [_]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF -0-
SHARES ------------------------------------------------
BENEFICIALLY OWNED 8 SHARED VOTING POWER
BY EACH REPORTING
PERSON 17,418,079
WITH ------------------------------------------------
9 SOLE DISPOSITIVE POWER
-0-
------------------------------------------------
10 SHARED DISPOSITIVE POWER
17,418,079
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
17,418,079
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[_]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
11.9%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
--------------------------------------------------------------------------------
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741503106 Page 5 of 17 Pages
------------------------ -------------------------
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
GAP Coinvestment Partners, L.P.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)[X]
(b)[_]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
OO
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [_]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF -0-
SHARES ------------------------------------------------
BENEFICIALLY OWNED 8 SHARED VOTING POWER
BY EACH REPORTING
PERSON 17,418,079
WITH ------------------------------------------------
9 SOLE DISPOSITIVE POWER
-0-
------------------------------------------------
10 SHARED DISPOSITIVE POWER
17,418,079
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
17,418,079
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[_]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
11.9%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
--------------------------------------------------------------------------------
741503106 Page 6 of 17 Pages
AMENDMENT NO. 3 TO SCHEDULE 13D
This Amendment No. 3 to Schedule 13D ("Amendment No. 3") is filed
by the undersigned to amend and supplement the Schedule 13D, dated as of April
1, 1999 (the "Original 13D"), as amended by Amendment No. 1 thereto, dated as of
August 17, 1999 ("Amendment No. 1"), and Amendment No. 2 thereto, dated as of
January 14, 2000 ("Amendment No. 2"), with respect to the shares of common
stock, par value $ 0.008 per share (the "Common Stock"), of Priceline.com
Incorporated, a Delaware Corporation (the "Company").
Item 1. Security and Issuer.
The title of the class of equity securities of Priceline.com
Incorporated, a Delaware corporation (the "Company"), to which this Amendment
No. 3 relates is the Company's Common Stock, par value $0.008 per share (the
"Common Stock"). The address of the principal executive office of the Company is
Five High Ridge Park, Stamford, Connecticut 06905.
Item 2. Identity and Background.
This Amendment No. 3 is being filed by a group, as defined in Rule
13d-5 of the General Rules and Regulations under the Securities Exchange Act of
1934, as amended. The members of the group are General Atlantic Partners, LLC, a
Delaware limited liability company ("GAP"), General Atlantic Partners 48, L.P.,
a Delaware limited partnership ("GAP 48"), General Atlantic Partners 50, L.P., a
Delaware limited partnership ("GAP 50"), and GAP Coinvestment Partners, L.P., a
New York limited partnership ("GAPCO" and, collectively with GAP, GAP 48 and GAP
50, the "Reporting Persons"), all of which are located at 3 Pickwick Plaza,
Greenwich, Connecticut 06830. Each of the
741503106 Page 7 of 17 Pages
Reporting Persons is engaged in acquiring, holding and disposing of interests in
various companies for investment purposes. The general partner of each of GAP 48
and GAP 50 is GAP. The managing members of GAP are Steven A. Denning, Peter L.
Bloom, William E. Ford, William O. Grabe, David C. Hodgson, Matthew Nimetz,
Clifton S. Robbins and Franchon M. Smithson (collectively, the "GAP Managing
Members"). The GAP Managing Members are also the general partners of GAPCO. The
business address of each of the GAP Managing Members is 3 Pickwick Plaza,
Greenwich, Connecticut 06830, and the present principal occupation or employment
of each of the GAP Managing Members is as a managing member of GAP. Each of the
GAP Managing Members is a citizen of the United States.
None of the Reporting Persons and none of the above individuals
has, during the last five years, been (i) convicted in a criminal proceeding
(excluding traffic violations or similar misdemeanors) or (ii) a party to a
civil proceeding of a judicial or administrative body of competent jurisdiction
or subject to any judgment, decree or final order finding any violation of
federal or state securities laws or enjoining future violations of, or
prohibiting or mandating activities subject to, such laws.
Item 3. Source and Amount of Funds or Other Consideration.
This Amendment No. 3 is being filed as a result of recent sales of
shares of Common Stock by GAP 48, GAP 50 and GAPCO, as described in Item 5(c).
Item 4. Purpose of Transaction.
The Reporting Persons have no present intention to sell any of the
remaining shares of Common Stock owned by them, although in the future they may,
from time to time, determine to dispose of some or all of such shares or to
acquire additional
741503106 Page 8 of 17 Pages
shares of Common Stock. None of the Reporting Persons has any other plans which
relate to or would result in any of the items listed in paragraphs (a) through
(j) of Item 4.
Item 5. Interest in Securities of the Issuer.
Item 5 is hereby amended and restated in its entirety as follows:
(a) As of the date hereof, GAP, GAP 48, GAP 50 and GAPCO each own
of record no shares of Common Stock, 12,315,252 shares of Common Stock, 982,666
shares of Common Stock and 4,120,161 shares of Common Stock, respectively, or
0%, 8.4%, 0.7% and 2.8%, respectively, of the Company's issue and outstanding
shares of Common Stock.
By virtue of the fact that the GAP Managing Members are also the
general partners authorized and empowered to vote and dispose of the securities
held by GAPCO, and that GAP is the general partner of GAP 48 and GAP 50, the
Reporting Persons may be deemed to share voting power and the power to direct
the disposition of the shares of Common Stock which each owns of record.
Accordingly, as of the date hereof, each of the Reporting Persons may be deemed
to own beneficially an aggregate of 17,418,079 shares of Common Stock or 11.9%
of the Company's issued and outstanding shares of Common Stock.
(b) Each of the Reporting Persons has the shared power to direct
the vote and the shared power to direct the disposition of the 17,418,079 shares
of Common Stock that may be deemed to be owned beneficially by each of them.
(c) On February 8, 2000, (i) GAP 48 sold an aggregate of 2,378,899
shares of Common Stock, at a net price per share of $56.3075, for an aggregate
purchase price of $133,949,855, (ii) GAP 50 sold an aggregate of 188,231 shares
of Common Stock, at a net price per share of $56.3075, for an aggregate purchase
price of
741503106 Page 9 of 17 Pages
$10,598,817 and (iii) GAPCO sold an aggregate of 447,957 shares of Common Stock,
at a net price per share of $56.3075, for an aggregate net purchase price of
$25,223,339, and distributed 58,668 shares of Common Stock to partners.
(d) No person other than the persons listed is known to have the
right to receive or the power to direct the receipt of dividends from, or the
proceeds from the sale of, any securities owned by any member of the group.
(e) Not Applicable.
Item 6. Contracts, Arrangements, Understandings or Relationship
with Respect to the Issuer.
GAP 48, GAP 50 and GAPCO are each party to a letter agreement with
Morgan Stanley Dean Witter ("Morgan Stanley"), dated January 10, 2000 (the
"Lock- Up Letters"), which extend to May 8, 2000 the restrictions on sale,
disposition and certain other transactions imposed by the Underwriting
Agreement, dated August 9, 1999 (the "Underwriting Agreement") and otherwise
imposed in connection with the Company's public offering of shares of Common
Stock in August of 1999. Notwithstanding the extension of such restrictions, the
Lock-Up Letters also permit up to 15% of the shares of Common Stock held by each
of GAP 48, GAP 50 and GAPCO (the "Released Shares") to be released from such
restrictions described above, commencing February 8, 2000. The Lock-Up Letters
are attached hereto as Exhibits 4, 5 and 6, respectively. The Underwriting
Agreement is incorporated by reference on Exhibit 8 hereto.
In addition, on February 7, 2000, GAP 48, GAP 50 and GAPCO received
a letter from Morgan Stanley which permits GAP 48, GAP 50 and GAPCO to
re-allocate the Released Shares among themselves, without changing the aggregate
number of such Released Shares. Such letter is attached as Exhibit 7 hereto.
741503106 Page 10 of 17 Pages
Item 7. Materials to be Filed as Exhibits.
Exhibit 1: Incorporate by reference the Agreement relating
to the filing of joint acquisition statements as
required by Rule 13d-1(f)(1) under the
Securities Exchange Act of 1934, as amended,
filed as Exhibit 1 to the Schedule 13D, dated as
of April 1, 1999.
Exhibit 2: Power of attorney dated December 22, 1999
appointing Thomas J. Murphy Attorney-In -Fact
for GAP.
Exhibit 3: Power of attorney dated December 22, 1999
appointing Thomas J. Murphy Attorney-In-Fact for
GAPCO.
Exhibit 4: Lock-Up Letter, dated January 10, 2000, between
GAP 48 and Morgan Stanley.
Exhibit 5: Lock-Up Letter, dated January 10, 2000, between
GAP 50 and Morgan Stanley.
Exhibit 6: Lock-Up Letter, dated January 10, 2000, between
GAPCO and Morgan Stanley.
Exhibit 7: Letter agreement, dated February 7, 2000, among
GAP 48, GAP 50, GAPCO and Morgan Stanley.
Exhibit 8: Incorporate by reference the form of
Underwriting Agreement among Priceline.com
Incorporated, General Atlantic Partners, LLC,
GAP 48, GAP 50, GAPCO, certain underwriting
named therein and certain other selling
stockholders named therein filed as Exhibit 1.1
to the Company's S-1 Amendment No. 3 dated
August 11, 1999 (Reg. No. 333-83513).
741503106 Page 11 of 17 Pages
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.
Dated as of February 9, 2000.
GENERAL ATLANTIC PARTNERS, LLC
By: /s/ Thomas J. Murphy
--------------------
Name: Thomas J. Murphy
Title: Attorney-In-Fact
GENERAL ATLANTIC PARTNERS 48, L.P.
By: General Atlantic Partners, LLC,
Its general partner
By: /s/ Thomas J. Murphy
--------------------
Name: Thomas J. Murphy
Title: Attorney-In-Fact
GENERAL ATLANTIC PARTNERS 50, L.P.
By: General Atlantic Partners, LLC,
Its general partner
By: /s/ Thomas J. Murphy
--------------------
Name: Thomas J. Murphy
Title: Attorney-In-Fact
Dates Referenced Herein and Documents Incorporated by Reference
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