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Hori Capital Management Inc, et al. – ‘SC 13D/A’ on 11/18/98 re: Modtech Inc

As of:  Wednesday, 11/18/98   ·   Accession #:  1029869-98-1308   ·   File #:  5-41497

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

11/18/98  Hori Capital Management Inc       SC 13D/A               1:21K  Modtech Inc                       Merrill/Daniels/FA
          Calvin G. Hori, Sole Shareholder
          Hori Capital Management Inc
          Platinum Partners, L.P.

Amendment to General Statement of Beneficial Ownership   —   Schedule 13D
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: SC 13D/A    Modtech, Inc. Form SC 13D/A                           10     40K 


Document Table of Contents

Page (sequential) | (alphabetic) Top
 
11st Page   -   Filing Submission
"Common Stock
4Item 1. Security and Issuer
5Item 2. Identity and Background
"Item 3. Source and Amount of Funds or Other Consideration
"Item 4. Purpose of Transaction
6Item 5. Interest in Securities of the Issuer
8Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer
"Item 7. Material to be Filed as Exhibits
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SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 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) (Amendment No. 1)* Modtech, Inc. -------------------------------------------------------------------------------- (Name of Issuer) Common Stock -------------------------------------------------------------------------------- (Title of Class of Securities) 607914108 ----------------------------------------------------- (CUSIP NUMBER) Calvin Hori, Hori Capital Management, Inc., One Washington Mall, Boston, MA 02108 (617) 367-3800 -------------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) September 16, 1998 ------------------------------------------------------- (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), 13d-1(f) or 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 Rule 13d-7(b) 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 and 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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|-----------------------| |--------------------------| |CUSIP No. 607914108 | | Page 2 of 9 Pages | |-----------------------| |--------------------------| |----------------------------------------------------------------------------| | 1 | NAME OF REPORTING PERSON | | | S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON | | | | | | Hori Capital Management, Inc. | |---------|------------------------------------------------------------------| | 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] | | | (b) [ ] | |---------|------------------------------------------------------------------| | 3 | SEC USE ONLY | | | | |---------|------------------------------------------------------------------| | 4 | SOURCE OF FUNDS* | | | | | | WC | |---------|------------------------------------------------------------------| | 5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED | | | PURSUANT TO ITEMS 2(d) or 2(e) [ ] | |---------|------------------------------------------------------------------| | 6 | CITIZENSHIP OR PLACE OF ORGANIZATION | | | | | | Massachusetts | |----------------|-----|-----------------------------------------------------| | | 7 | SOLE VOTING POWER | | | | 80,000 | | NUMBER OF |-----|-----------------------------------------------------| | SHARES | 8 | SHARED VOTING POWER | | BENEFICIALLY | | 20,200 | | OWNED BY EACH |-----|-----------------------------------------------------| | REPORTING | 9 | SOLE DISPOSITIVE POWER | | PERSON | | 80,000 | | WITH |-----|-----------------------------------------------------| | | 10 | SHARED DISPOSITIVE POWER | | | | 20,200 | |----------------------------------------------------------------------------| | 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | | | | | | 100,200 | |---------|------------------------------------------------------------------| | 12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) | | | EXCLUDES CERTAIN SHARES* [ ] | | | | |---------|------------------------------------------------------------------| | 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | | | | | | 1.0% | |---------|------------------------------------------------------------------| | 14 | TYPE OF REPORTING PERSON * | | | | | | CO | |----------------------------------------------------------------------------| 2
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|-----------------------| |--------------------------| |CUSIP No. 607914108 | | Page 3 of 9 Pages | |-----------------------| |--------------------------| |----------------------------------------------------------------------------| | 1 | NAME OF REPORTING PERSON | | | S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON | | | | | | Platinum Partners, L.P. | |---------|------------------------------------------------------------------| | 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] | | | (b) [ ] | |---------|------------------------------------------------------------------| | 3 | SEC USE ONLY | | | | |---------|------------------------------------------------------------------| | 4 | SOURCE OF FUNDS* | | | | | | WC | |---------|------------------------------------------------------------------| | 5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED | | | PURSUANT TO ITEMS 2(d) or 2(e) [ ] | |---------|------------------------------------------------------------------| | 6 | CITIZENSHIP OR PLACE OF ORGANIZATION | | | | | | Massachusetts | |----------------|-----|-----------------------------------------------------| | | 7 | SOLE VOTING POWER | | | | 80,000 | | NUMBER OF |-----|-----------------------------------------------------| | SHARES | 8 | SHARED VOTING POWER | | BENEFICIALLY | | 0 | | OWNED BY EACH |-----|-----------------------------------------------------| | REPORTING | 9 | SOLE DISPOSITIVE POWER | | PERSON | | 80,000 | | WITH |-----|-----------------------------------------------------| | | 10 | SHARED DISPOSITIVE POWER | | | | 0 | |----------------------------------------------------------------------------| | 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | | | | | | 80,000 | |---------|------------------------------------------------------------------| | 12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) | | | EXCLUDES CERTAIN SHARES* [ ] | | | | |---------|------------------------------------------------------------------| | 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | | | | | | .8% | |---------|------------------------------------------------------------------| | 14 | TYPE OF REPORTING PERSON * | | | | | | PN | |----------------------------------------------------------------------------| 3
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|-----------------------| |--------------------------| |CUSIP No. 607914108 | | Page 4 of 9 Pages | |-----------------------| |--------------------------| |----------------------------------------------------------------------------| | 1 | NAME OF REPORTING PERSON | | | S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON | | | | | | Calvin G. Hori, Sole Shareholder | |---------|------------------------------------------------------------------| | 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] | | | (b) [ ] | |---------|------------------------------------------------------------------| | 3 | SEC USE ONLY | | | | |---------|------------------------------------------------------------------| | 4 | SOURCE OF FUNDS* | | | | | | WC | |---------|------------------------------------------------------------------| | 5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED | | | PURSUANT TO ITEMS 2(d) or 2(e) [ ] | |---------|------------------------------------------------------------------| | 6 | CITIZENSHIP OR PLACE OF ORGANIZATION | | | | | | United States Citizen | |----------------|-----|-----------------------------------------------------| | | 7 | SOLE VOTING POWER | | | | 100,200 | | NUMBER OF |-----|-----------------------------------------------------| | SHARES | 8 | SHARED VOTING POWER | | BENEFICIALLY | | 0 | | OWNED BY EACH |-----|-----------------------------------------------------| | REPORTING | 9 | SOLE DISPOSITIVE POWER | | PERSON | | 100,200 | | WITH |-----|-----------------------------------------------------| | | 10 | SHARED DISPOSITIVE POWER | | | | 0 | |----------------------------------------------------------------------------| | 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | | | | | | 100,200 | |---------|------------------------------------------------------------------| | 12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) | | | EXCLUDES CERTAIN SHARES* [ ] | | | | |---------|------------------------------------------------------------------| | 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) | | | | | | 1.0% | |---------|------------------------------------------------------------------| | 14 | TYPE OF REPORTING PERSON * | | | | | | IN | |----------------------------------------------------------------------------| Item 1. Security and Issuer This Report on Schedule 13D relates to shares of common stock, no par value (the "Common Stock"), of Modtech, Inc. (the "Company"), whose principal executive offices are located at 2830 Barrett Ave.; Perris, CA 92572. 4
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Item 2. Identity and Background This Report is filed by Platinum Partners, L.P., a Massachusetts limited partnership (the "Partnership"), having its principal place of business and executive offices at c/o Hori Capital Management, Inc., One Washington Mall, 7th Floor, Boston, MA 02108; and Hori Capital Management, Inc., a Massachusetts corporation and the sole General Partner of the Partnership (the "General Partner") having its principal place of business and executive offices at One Washington Mall, 7th Floor, Boston, MA 02108; and Mr. Calvin G. Hori, the sole shareholder, director and President of the General Partner ("Mr. Hori"), having his business address at c/o Hori Capital Management, Inc., One Washington Mall, 7th Floor, Boston, MA 02108 (collectively, the "Reporting Persons"). The principal business of each Reporting Person is to make, manage, supervise, and dispose of investments in a variety of businesses. Hori Capital Management is the sole General Partner of the Partnership and one of several investment advisers to Micro Cap Partners, Ltd. ("Micro Cap"). During the last five years, the Reporting Persons have not been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors), and have not been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and are not, as a result of any such proceeding, subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws. Mr. Hori is a United States citizen. Item 3. Source and Amount of Funds or Other Consideration The source of funds for the transactions described in Item 5(c) were assets of the Partnership and Micro Cap. Item 4. Purpose of Transaction The Partnership and Micro Cap acquired the Common Stock described in Item 5(c) for investment purposes. None of the Reporting Persons have any plans or proposals which relate to or would result in: a. The acquisition by any person of additional securities of the issuer, or the disposition of securities of the issuer; b. An extraordinary corporate transaction, such as a merger, reorganization or liquidation, involving the issuer or any of its subsidiaries; c. A sale or transfer of a material amount of assets of the issuer or any of its subsidiaries; d. Any change in the present board of directors or management of the issuer, including any plans or proposals to change the 5
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number or term of directors or to fill any existing vacancies on the board; e. Any material change in the present capitalization or dividend policy of the issuer; f. Any other material change in the issuer's business or corporate structure including but not limited to, if the issuer is a registered closed-end investment company, any plans or proposals to make any change in its investment policy for which a vote is required by Section 13 of the Investment Company Act of 1940; g. Changes in the issuer's charter, bylaws or instruments corresponding thereto or other actions which may impede the acquisition of control of the issuer by any person; h. Causing a class of securities of the issuer to be delisted from a national securities exchange or to cease to be authorized to be quoted in an inter-dealer quotation system of a registered national securities association; i. A class of equity securities of the issuer becoming eligible for termination of registration pursuant to Section 1(g)(4) of the Securities Exchange Act of 1934; or j. Any action similar to any of those enumerated above. Item 5. Interest in Securities of the Issuer a. As of November 2, 1998, the Partnership may be deemed to beneficially own 80,000 shares of Common Stock of the Company. Based upon their being 9,856,000 shares of Common Stock outstanding, the shares of Common Stock which the Partnership may be deemed to beneficially own represents approximately .8% of the outstanding shares of Common Stock of the Company. As of November 2, 1998, the General Partner may be deemed to beneficially own 80,000 shares of Common Stock of the Company by virtue of it being the General Partner of the Partnership. Based upon there being 9,856,000 shares of Common Stock outstanding, the shares of Common Stock which the General Partner may be deemed to beneficially own represents approximately .8% of the outstanding shares of Common Stock of the Company. As of November 2, 1998, the General Partner may be deemed to beneficially own 20,200 shares of Common Stock of the Company by virtue of it being one of several investment advisors to Micro Cap. Based upon there being 9,856,000 shares of Common Stock outstanding, the shares of Common Stock which the General Partner may be deemed to beneficially own represents approximately .2% of the 6
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outstanding shares of Common Stock of the Company. As of November 2, 1998, Mr. Hori may be deemed to beneficially own 100,200 shares of Common Stock of the Company by virtue of his being the sole shareholder of the General Partner. Based upon there being 9,856,000 shares of Common Stock outstanding, the shares of Common Stock which Mr. Hori may be deemed to beneficially own represents approximately 1.0% of the outstanding shares of Common Stock of the Company. b. In accordance with the Agreement of Limited Partnership, the General partner has the sole power to vote and the sole power to dispose of the shares of Common Stock of the Company held by the Partnership and Micro Cap. c. The Partnership has made the following sales of shares of Common Stock: [Download Table] -------------------------------------------------------------------------------- Aggregate Transaction Price Per Purchase Date # of Shares Share Price -------------------------------------------------------------------------------- 8/31/98 6,300 17.31 109,072 9/01/98 5,000 16.75 83,750 9/02/98 10,000 17.44 174,380 9/16/98 18.700 17.44 326,091 9/29/98 20,000 17.81 356,260 10/01/98 20,000 17.00 340,000 10/05/98 15,000 15.75 236,250 10/13/98 200,000 13.00 2,600,000 10/29/98 25,000 17.00 425,000 10/30/98 65,000 16.43 1,068,164 11/02/98 25,000 16.05 401,250 -------------------------------------------------------------------------------- Micro Cap has made the following sales of shares of Common Stock: [Download Table] -------------------------------------------------------------------------------- Aggregate Transaction Price Per Purchase Date # of Shares Share Price -------------------------------------------------------------------------------- 09/16/98 11,300 17.44 197,049 09/29/98 5,000 17.81 89,065 10/30/98 10,000 16.43 164,333 -------------------------------------------------------------------------------- 7
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All transactions were made in the open market on NASDAQ. d. The Partnership and Micro Cap are each limited partnerships. Each Member of the Partnership is entitled to receive certain distributions from the Partnership's assets as specified in the Partnership's governing documents. Similarly, each Member of Micro Cap is entitled to receive certain distributions from Micro Cap's assets as specified in Micro Cap's governing documents. These distributions include funds received by the Partnership or Micro Cap from dividends declared with respect to the shares of Common Stock held by the Partnership or Micro Cap or from the sale of such shares of Common Stock. e. September 16, 1998. The filing of this statement shall not be construed as an admission that any of the Reporting Persons are, for the purposes of Sections 13(d) or 13(g) of the Securities Exchange Act of 1934, the beneficial owners of any securities covered by this statement. Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer There are no contracts, arrangements, understandings or relationships (legal or otherwise) between or among any of the Reporting Persons and any other person with respect to any securities of the Company other than (a) the governing documents of the Partnership and Micro Cap and (b) the investment advisory agreement between Hori Capital Management and Micro Cap. Item 7. Material to be Filed as Exhibits Exhibit 1 - Agreement regarding filing of joint Schedule 13D. 8
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Signature After reasonable inquiry and to the best of the knowledge and belief of the undersigned, each of the undersigned hereby certifies that the information set forth in this statement is true, complete and correct. EXECUTED as a sealed instrument this 17th day of November, 1998. PLATINUM PARTNERS, L.P. By: /s/ Calvin G. Hori --------------------------------- Calvin G. Hori, President of Hori Capital Management, Inc., General Partner HORI CAPITAL MANAGEMENT, INC. By: /s/ Calvin G. Hori --------------------------------- Calvin G. Hori, President /s/ Calvin G. Hori ---------------------------------- Calvin G. Hori 9
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Exhibit 1 --------- AGREEMENT Pursuant to Rule 13d-1(f)(1) under the Securities Exchange Act of 1934, as amended, the undersigned hereby agree that only one statement containing the information required by Schedule 13D need be filed with respect to the ownership by each of the undersigned of the shares of Common Stock of Modtech, Inc. EXECUTED as a sealed instrument this 17th day of November, 1998. PLATINUM PARTNERS, L.P. By: /s/ Calvin G. Hori --------------------------------- Calvin G. Hori, President of Hori Capital Management, Inc., General Partner HORI CAPITAL MANAGEMENT, INC. By: /s/ Calvin G. Hori --------------------------------- Calvin G. Hori, President /s/ Calvin G. Hori ---------------------------------- Calvin G. Hori

Dates Referenced Herein   and   Documents Incorporated by Reference

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Filed on:11/18/98SC 13D/A
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