sec document
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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. 2)1
FALCONSTOR SOFTWARE, INC.
--------------------------------------------------------------------------------
(Name of issuer)
COMMON STOCK, $.01 PAR VALUE PER SHARE
--------------------------------------------------------------------------------
(Title of class of securities)
306137 10 0
--------------------------------------------------------------------------------
(CUSIP number)
STEVEN WOLOSKY, ESQ.
OLSHAN GRUNDMAN FROME ROSENZWEIG & WOLOSKY LLP
505 Park Avenue
New York, New York 10022
(212) 753-7200
--------------------------------------------------------------------------------
(Name, address and telephone number of person
authorized to receive notices and communications)
August 22, 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), 13d-1(f) or 13d-1(g), check the
following box / /.
NOTE. The 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.
(Continued on following pages)
(Page 1 of 33 Pages)
--------
1 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 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).
----------------------------- -----------------------------
CUSIP No. 306137 10 0 13D Page 2 of 33 Pages
----------------------------- -----------------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Wheatley 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, OO
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 484,051 shares
OWNED BY EACH
REPORTING
PERSON WITH -----------------------------------------------------------------
8 SHARED VOTING POWER
41,008 shares
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
484,051 shares
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
41,008 shares
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
525,059 shares
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.2%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
----------------------------- -----------------------------
CUSIP No. 306137 10 0 13D Page 3 of 33 Pages
----------------------------- -----------------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Wheatley Foreign 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, OO
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 41,008 shares
OWNED BY EACH
REPORTING
PERSON WITH -----------------------------------------------------------------
8 SHARED VOTING POWER
484,051 shares
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
41,008 shares
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
484,051 shares
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
525,059 shares
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.2%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
----------------------------- -----------------------------
CUSIP No. 306137 10 0 13D Page 4 of 33 Pages
----------------------------- -----------------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Wheatley Partners II, L.P.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |_|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC, OO
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 180,089 shares
OWNED BY EACH
REPORTING
PERSON WITH -----------------------------------------------------------------
8 SHARED VOTING POWER
0 shares
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
180,089 shares
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0 shares
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
180,089 shares
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.4%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
----------------------------- -----------------------------
CUSIP No. 306137 10 0 13D Page 5 of 33 Pages
----------------------------- -----------------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Wheatley Partners III, L.P.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |_|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC, OO
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 1,370,015 shares
OWNED BY EACH
REPORTING
PERSON WITH -----------------------------------------------------------------
8 SHARED VOTING POWER
592,821 shares
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
1,370,015 shares
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
592,821 shares
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,962,836 shares
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.4%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
----------------------------- -----------------------------
CUSIP No. 306137 10 0 13D Page 6 of 33 Pages
----------------------------- -----------------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Wheatley Foreign Partners III, L.P.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |_|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC, OO
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 293,012 shares
OWNED BY EACH
REPORTING
PERSON WITH -----------------------------------------------------------------
8 SHARED VOTING POWER
1,669,824 shares
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
293,012 shares
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,669,824 shares
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,962,836 shares
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.4%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
----------------------------- -----------------------------
CUSIP No. 306137 10 0 13D Page 7 of 33 Pages
----------------------------- -----------------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Wheatley Associates III, L.P.
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |_|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC, OO
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 299,809 shares
OWNED BY EACH
REPORTING
PERSON WITH -----------------------------------------------------------------
8 SHARED VOTING POWER
1,663,027 shares
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
299,809 shares
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
1,663,027 shares
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,962,836 shares
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.4%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
----------------------------- -----------------------------
CUSIP No. 306137 10 0 13D Page 8 of 33 Pages
----------------------------- -----------------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Irwin Lieber
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |_|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF, OO
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 1,934,705 shares
OWNED BY EACH
REPORTING
PERSON WITH -----------------------------------------------------------------
8 SHARED VOTING POWER
2,667,984 shares
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
1,934,705 shares
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
2,667,984 shares
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
4,602,689 shares
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
10.3%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
----------------------------- -----------------------------
CUSIP No. 306137 10 0 13D Page 9 of 33 Pages
----------------------------- -----------------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Barry Fingerhut
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |_|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF, OO
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 322,180 shares
OWNED BY EACH
REPORTING
PERSON WITH -----------------------------------------------------------------
8 SHARED VOTING POWER
2,667,984 shares
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
322,180 shares
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
2,667,984 shares
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,000,164 shares
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.7%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
----------------------------- -----------------------------
CUSIP No. 306137 10 0 13D Page 10 of 33 Pages
----------------------------- -----------------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Nancy Casey
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |_|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF, OO
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 0 shares
OWNED BY EACH
REPORTING
PERSON WITH -----------------------------------------------------------------
8 SHARED VOTING POWER
2,089,161 shares
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0 shares
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
2,089,161 shares
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,089,161 shares
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.7%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
----------------------------- -----------------------------
CUSIP No. 306137 10 0 13D Page 11 of 33 Pages
----------------------------- -----------------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Applegreen Partners
--------------------------------------------------------------------------------
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 ITEM 2(d) OR 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 346,491 shares
OWNED BY EACH
REPORTING
PERSON WITH -----------------------------------------------------------------
8 SHARED VOTING POWER
0 shares
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
346,491 shares
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0 shares
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
346,491 shares
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.8%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
----------------------------- -----------------------------
CUSIP No. 306137 10 0 13D Page 12 of 33 Pages
----------------------------- -----------------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Seth Lieber
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |_|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF, OO
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 115,497 shares
OWNED BY EACH
REPORTING
PERSON WITH -----------------------------------------------------------------
8 SHARED VOTING POWER
3,014,475 shares
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
115,497 shares
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
3,014,475 shares
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,129,972 shares
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.0%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
----------------------------- -----------------------------
CUSIP No. 306137 10 0 13D Page 13 of 33 Pages
----------------------------- -----------------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Jonathan Lieber
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |_|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF, OO
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 25,265 shares
OWNED BY EACH
REPORTING
PERSON WITH -----------------------------------------------------------------
8 SHARED VOTING POWER
3,014,475 shares
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
25,265 shares
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
3,014,475 shares
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
3,039,740 shares
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.8%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
----------------------------- -----------------------------
CUSIP No. 306137 10 0 13D Page 14 of 33 Pages
----------------------------- -----------------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Seneca Ventures
--------------------------------------------------------------------------------
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 ITEM 2(d) OR 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 642,453 shares
OWNED BY EACH
REPORTING
PERSON WITH -----------------------------------------------------------------
8 SHARED VOTING POWER
0 shares
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
642,453 shares
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0 shares
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
642,435 shares
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.4%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
----------------------------- -----------------------------
CUSIP No. 306137 10 0 13D Page 15 of 33 Pages
----------------------------- -----------------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Woodland Venture Fund
--------------------------------------------------------------------------------
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 ITEM 2(d) OR 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 743,513 shares
OWNED BY EACH
REPORTING
PERSON WITH -----------------------------------------------------------------
8 SHARED VOTING POWER
0 shares
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
743,513 shares
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0 shares
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
743,513 shares
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.7%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
----------------------------- -----------------------------
CUSIP No. 306137 10 0 13D Page 16 of 33 Pages
----------------------------- -----------------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Woodland Partners
--------------------------------------------------------------------------------
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 ITEM 2(d) OR 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 692,983 shares
OWNED BY EACH
REPORTING
PERSON WITH -----------------------------------------------------------------
8 SHARED VOTING POWER
0 shares
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
692,983 shares
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0 shares
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
692,983 shares
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.6%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
----------------------------- -----------------------------
CUSIP No. 306137 10 0 13D Page 17 of 33 Pages
----------------------------- -----------------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Brookwood 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 ITEM 2(d) OR 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 526,956 shares
OWNED BY EACH
REPORTING
PERSON WITH -----------------------------------------------------------------
8 SHARED VOTING POWER
0 shares
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
526,956 shares
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0 shares
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
526,956 shares
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.2%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
----------------------------- -----------------------------
CUSIP No. 306137 10 0 13D Page 18 of 33 Pages
----------------------------- -----------------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Barry Rubenstein
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |_|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF, OO
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 2,077,403 shares
OWNED BY EACH
REPORTING
PERSON WITH -----------------------------------------------------------------
8 SHARED VOTING POWER
5,282,147 shares
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
2,077,403 shares
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
5,282,147 shares
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,359,550 shares
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
16.5%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
----------------------------- -----------------------------
CUSIP No. 306137 10 0 13D Page 19 of 33 Pages
----------------------------- -----------------------------
================================================================================
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Marilyn Rubenstein
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |_|
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF, OO
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) OR 2(e) |_|
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
--------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 8,258 shares
OWNED BY EACH
REPORTING
PERSON WITH -----------------------------------------------------------------
8 SHARED VOTING POWER
2,605,905 shares
-----------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
8,258 shares
-----------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
2,605,905 shares
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,614,163 shares
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.9%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
----------------------------- -----------------------------
CUSIP No. 306137 10 0 13D Page 20 of 33 Pages
----------------------------- -----------------------------
The following constitutes Amendment No. 2 to the Schedule 13D filed
by the undersigned (the "Schedule 13D"). Except as specifically amended by this
Amendment No. 2, the Schedule 13D remains in full force and effect. Capitalized
terms used in this Amendment No.2 but not defined herein shall have the meaning
set forth in the Schedule 13D.
Item 1 is amended and restated to read in its entirety as follows:
Item 1. Security and Issuer.
-------------------
This statement relates to shares of the common stock, $.01 par value per share
("Common Stock"), of FalconStor Software, Inc. f/k/a Network Peripherals Inc.
(the "Issuer"). The principal executive offices of the Issuer are located at 125
Baylis Road, Melville, NY 11747.
Item 2 is amended and restated to read in its entirety as follows:
Item 2. Identity and Background.
-----------------------
Items 2(a), 2(b), 2(c) and 2(f) This Statement is jointly filed by the
following entities (collectively referred to as the "Reporting Persons"):
o Wheatley Partners, L.P., a Delaware limited partnership
("Wheatley");
o Wheatley Foreign Partners, L.P., a Delaware limited partnership
("Wheatley Foreign");
o Wheatley Partners II, L.P., a New York limited partnership
("Wheatley II");
o Wheatley Partners III, L.P. a Delaware limited partnership
(Wheatley III");
o Wheatley Foreign Partners III, L.P., a Delaware limited
partnership ("Wheatley Foreign III");
o Wheatley Associates III, L.P., a Delaware limited partnership
("Wheatley Associates");
o Irwin Lieber, a United States citizen;
o Barry Fingerhut, a United States citizen;
o Nancy Casey, a United States citizen;
o Applegreen Partners, a New York general partnership
("Applegreen");
o Seth Lieber, a United States citizen;
o Jonathan Lieber, a United States citizen;
o Seneca Ventures, a New York limited partnership ("Seneca");
o Woodland Venture Fund, a New York limited partnership ("Woodland
Venture");
o Woodland Partners, a New York general partnership ("Woodland
Partners");
o Brookwood Partners, L.P., a New York limited partnership
("Brookwood");
o Barry Rubenstein, a United States citizen; and
o Marilyn Rubenstein, a United States citizen.
The principal business of each of Wheatley, Wheatley Foreign,
Wheatley II, Wheatley III, Wheatley Foreign III, Wheatley Associates, Seneca
Ventures, Woodland Venture, Woodland Partners, Brookwood and Applegreen is
investing.
Wheatley Partners LLC ("Wheatley LLC") is the general partner of
Wheatley and a general partner in Wheatley Foreign. Wheatley Partners III LLC
("Wheatley III LLC") is the general partner in Wheatley III, Wheatley Foreign
III and Wheatley Associates. Messrs. Barry Rubenstein, Irwin Lieber, Seth
Lieber, Jonathan Lieber and Barry Fingerhut are members and officers of Wheatley
LLC and Wheatley III LLC and are general partners of Wheatley II. Nancy Casey is
a member and officer of Wheatley III LLC. The principal place of business of
Wheatley, Wheatley Foreign, Wheatley II, Wheatley III, Wheatley Foreign III,
Wheatley Associates III, Wheatley LLC, Wheatley III LLC, Messrs. Irwin Lieber,
Seth Lieber, Jonathan Lieber and Barry Fingerhut and Ms. Nancy Casey is 80
Cuttermill Road, Suite 311, Great Neck, New York, 11021.
Barry Rubenstein is a general partner of each of Seneca, Woodland
Venture, Woodland Partners and Brookwood. Woodland Services Corp., a New York
corporation ("Woodland Services"), is a general partner of Seneca and Woodland
Venture. Marilyn Rubenstein is a general partner of Woodland Partners, an
officer of Woodland Services Corp. and the spouse of Mr. Rubenstein. The
principal place of
----------------------------- -----------------------------
CUSIP No. 306137 10 0 13D Page 21 of 33 Pages
----------------------------- -----------------------------
business of each of Seneca, Woodland Venture, Woodland Partners, Brookwood, Mr.
Rubenstein, Mrs. Rubenstein and Woodland Services is 68 Wheatley Road,
Brookville, New York 11545.
Jonathan Lieber is the managing general partner and Seth Lieber is a
general partner of Applegreen. The principal place of business of Applegreen is
8 Applegreen Drive, Old Westbury, New York 11568.
Item 2(d) During the last five years, none of the Reporting Persons nor Wheatley
LLC, Wheatley III LLC nor Woodland Services has been convicted in a criminal
proceeding (excluding traffic violations or similar misdemeanors).
Item 2(e) During the last five years, none of the Reporting Persons nor Wheatley
LLC, Wheatley III LLC nor Woodland Services has been party to a civil proceeding
of a judicial or administrative body of competent jurisdiction and as a result
of such proceeding 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 or finding any violation with respect to
such laws.
Item 3 is amended to add the following:
Item 3. Source and Amount of Funds or Other Consideration.
-------------------------------------------------
On August 22, 2001, the Reporting Persons became the beneficial
owners of the shares of Common Stock set forth in Section 5(c) as a result of
the closing of the merger of FalconStor and Merger Sub, as contemplated by the
Merger Agreement, as the Reporting Persons were beneficial owners of shares of
common stock of FalconStor.
Item 4 is hereby amended to read in its entirety as follows:
Item 4. Purpose of Transaction.
----------------------
Except as set forth herein, the Reporting Persons presently have no
plans or proposals which would relate to or result in any of the matters set
forth in subparagraphs (a) - (j) of Item 4 of Schedule 13D.
Items 5(a) and (b) are hereby amended to read in their entirety as
follows:
Item 5. Interest in Securities of the Issuer.
------------------------------------
(a) The following table sets forth the aggregate number and
percentage (based on 13,353,755 shares of Common Stock outstanding as of August
22, 2001, as reported by the Issuer's transfer agent, and the shares of common
stock issued in connection with the Merger) of beneficial ownership for each of
the Reporting Persons.
Percentage of
Shares of Common Shares of Common
Stock Stock
Name Beneficially Owned Beneficially Owned
---- ------------------ ------------------
Wheatley Partners, L.P.(1) 525,059 1.2%
Wheatley Foreign Partners, L.P.(2) 525,059 1.2%
Wheatley Partners II, L.P. 180,089 0.4%
Wheatley Partners III, L.P.(3) 1,962,836 4.4%
Wheatley Foreign Partners III, L.P.(4) 1,962,836 4.4%
Wheatley Associates III, L.P.(5) 1,962,836 4.4%
Wheatley Partners LLC (6) 525,059 1.2%
----------------------------- -----------------------------
CUSIP No. 306137 10 0 13D Page 22 of 33 Pages
----------------------------- -----------------------------
Wheatley Partners III LLC(7) 1,962,836 4.4%
Irwin Lieber(8) 4,602,689 10.3%
Barry Fingerhut(9) 3,000,164 6.7%
Nancy Casey(10) 2,089,161 4.7%
Applegreen Partners 346,491 0.8%
Seth Lieber(11) 3,129,972 7.0%
Jonathan Lieber(12) 3,039,740 6.8%
Seneca Ventures 642,453 1.4%
Woodland Venture Fund 743,513 1.7%
Woodland Partners 692,983 1.6%
Brookwood Partners, L.P. 526,956 1.2%
Woodland Services Corp.(13) 1,385,966 3.1%
Barry Rubenstein(14) 7,359,550 16.5%
Marilyn Rubenstein(15) 2,614,163 5.9%
----------------------
(1) Consists of (a) 484,051 shares of Common Stock held by Wheatley and (b)
41,008 shares of Common Stock held by Wheatley Foreign. Wheatley
disclaims beneficial ownership of the securities held by Wheatley
Foreign.
(2) Consists of (a) 41,008 shares of Common Stock held by Wheatley Foreign
and (b) 484,051 shares of Common Stock held by Wheatley. Wheatley
Foreign disclaims beneficial ownership of the securities held by
Wheatley.
(3) Consists of (a) 1,370,015 shares of Common Stock held by Wheatley III,
(b) 293,012 shares of Common Stock held by Wheatley Foreign III and (c)
299,809 shares of Common Stock held by Wheatley Associates. Wheatley
III disclaims beneficial ownership of the securities held by Wheatley
Foreign III and Wheatley Associates.
(4) Consists of (a) 293,012 shares of Common Stock held by Wheatley Foreign
III, (b) 1,370,015 shares of Common Stock held by Wheatley III and (c)
299,809 shares of Common Stock held by Wheatley Associates. Wheatley
Foreign III disclaims beneficial ownership of the securities held by
Wheatley III and Wheatley Associates.
(5) Consists of (a) 299,809 shares of Common Stock held by Wheatley
Associates, (b) 1,370,015 shares of Common Stock held by Wheatley III
and (c) 293,012 shares of Common Stock held by Wheatley Foreign III.
Wheatley Associates disclaims beneficial ownership of the securities
held by Wheatley III and Wheatley Foreign III.
(6) Consists of (a) 484,051 shares of Common Stock held by Wheatley and (b)
41,008 shares of Common Stock held by Wheatley Foreign. Wheatley LLC
disclaims beneficial ownership of the securities held by Wheatley and
Wheatley Foreign, except to the extent of its respective equity
interests therein.
(7) Consists of (a) 1,370,015 shares of Common Stock held by Wheatley III,
(b) 293,012 shares of Common Stock held by Wheatley Foreign III and (c)
299,809 shares of Common Stock held by Wheatley Associates. Wheatley
III LLC disclaims beneficial ownership of the securities held by
Wheatley III, Wheatley Foreign III and Wheatley Associates, except to
the extent of its respective equity interests therein.
(8) Consists of (a) 1,934,705 shares of Common Stock held by Irwin Lieber,
(b) 484,051 shares of Common Stock held by Wheatley, (c) 41,008 shares
of Common Stock held by Wheatley Foreign, (d) 180,089 shares of Common
----------------------------- -----------------------------
CUSIP No. 306137 10 0 13D Page 23 of 33 Pages
----------------------------- -----------------------------
Stock held by Wheatley II, (e) 1,370,015 shares of Common Stock held by
Wheatley III, (f) 293,012 shares of Common Stock held by Wheatley
Foreign III, and (g) 299,809 shares of Common Stock held by Wheatley
Associates. Mr. Lieber disclaims beneficial ownership of the securities
held by Wheatley, Wheatley Foreign, Wheatley II, Wheatley III, Wheatley
Foreign III and Wheatley Associates, except to the extent of his
respective equity interests therein.
(9) Consists of (a) 322,180 shares of Common Stock held by Barry Fingerhut,
(b) 484,051 shares of Common Stock held by Wheatley, (c) 41,008 shares
of Common Stock held by Wheatley Foreign, (d) 180,089 shares of Common
Stock held by Wheatley II, (e) 1,370,015 shares of Common Stock held by
Wheatley III, (f) 293,012 shares of Common Stock held by Wheatley
Foreign III, and (g) 299,809 shares of Common Stock held by Wheatley
Associates. Mr. Fingerhut disclaims beneficial ownership of the
securities held by Wheatley, Wheatley Foreign, Wheatley II, Wheatley
III, Wheatley Foreign III and Wheatley Associates, except to the extent
of his respective equity interests therein.
(10) Consists of (a) 126,325 shares of Common Stock held by Nancy Casey and
her husband, as joint tenants, (b) 1,370,015 shares of Common Stock
held by Wheatley III, (c) 293,012 shares of Common Stock held by
Wheatley Foreign III, and (d) 299,809 shares of Common Stock held by
Wheatley Associates. Ms. Casey disclaims beneficial ownership of the
securities held by Wheatley III, Wheatley Foreign III and Wheatley
Associates, except to the extent of her respective equity interests
therein.
(11) Consists of (a) 115,497 shares of Common Stock held by Seth Lieber, (b)
484,051 shares of Common Stock held by Wheatley, (c) 41,008 shares of
Common Stock held by Wheatley Foreign, (d) 180,089 shares of Common
Stock held by Wheatley II, (e) 1,370,015 shares of Common Stock held by
Wheatley III, (f) 293,012 shares of Common Stock held by Wheatley
Foreign III, and (g) 299,809 shares of Common Stock held by Wheatley
Associates and (h) 346,491 shares of Common Stock held by Applegreen.
Mr. Lieber disclaims beneficial ownership of the securities held by
Wheatley, Wheatley Foreign, Wheatley II, Wheatley III, Wheatley Foreign
III, Wheatley Associates and Applegreen, except to the extent of his
respective equity interests therein.
(12) Consists of (a) 25,265 shares of Common Stock held by Jonathan Lieber,
(b) 484,051 shares of Common Stock held by Wheatley, (c) 41,008 shares
of Common Stock held by Wheatley Foreign, (d) 180,089 shares of Common
Stock held by Wheatley II, (e) 1,370,015 shares of Common Stock held by
Wheatley III, (f) 293,012 shares of Common Stock held by Wheatley
Foreign III, (g) 299,809 shares of Common Stock held by Wheatley
Associates and (h) 346,491 shares of Common Stock held by Applegreen.
Mr. Lieber disclaims beneficial ownership of the securities held by
Wheatley, Wheatley Foreign, Wheatley II, Wheatley III, Wheatley Foreign
III, Wheatley Associates and Applegreen, except to the extent of his
respective equity interests therein.
(13) Consists of (a) 642,453 shares of Common Stock held by Seneca and (b)
743,513 shares of Common Stock held by Woodland Venture. Woodland
Services disclaims beneficial ownership of the securities held by
Seneca and Woodland Venture, except to the extent of its respective
equity interests therein.
(14) Consists of (a) 2,077,403 shares of Common Stock held by Barry
Rubenstein, (b) 484,051 shares of Common Stock held by Wheatley, (c)
41,008 shares of Common Stock held by Wheatley Foreign, (d) 180,089
shares of Common Stock held by Wheatley II, (e) 1,370,015 shares of
Common Stock held by Wheatley III, (f) 293,012 shares of Common Stock
held by Wheatley Foreign III, (g) 299,809 shares of Common Stock held
by Wheatley Associates, (h) 642,453 shares of Common Stock held by
Seneca, (i) 743,513 shares of Common Stock held by Woodland Venture,
(j) 692,983 shares of Common Stock held by Woodland Partners and (k)
526,956 shares of Common Stock held by Brookwood. Mr. Rubenstein
disclaims beneficial ownership of the securities held by Wheatley,
Wheatley Foreign, Wheatley II, Wheatley III, Wheatley Foreign III,
Wheatley Associates, Seneca, Woodland Venture, Woodland Partners and
Brookwood, except to the extent of his respective equity interests
therein.
(15) Consists of (a) 8,258 shares of Common Stock held by Marilyn
Rubenstein, (b) 642,453 shares of Common Stock held by Seneca, (c)
743,513 shares of Common Stock held by Woodland Venture, (d) 692,983
shares of Common Stock held by Woodland Partners and (e) 526,956 shares
----------------------------- -----------------------------
CUSIP No. 306137 10 0 13D Page 24 of 33 Pages
----------------------------- -----------------------------
of Common Stock held by Brookwood. Mrs. Rubenstein disclaims beneficial
ownership of the securities held by Seneca, Woodland Venture, Woodland
Partners and Brookwood, except to the extent of her respective equity
interests therein.
(b) Wheatley has sole power to vote and dispose of 484,051 shares of
Common Stock, representing approximately 1.1% of the outstanding shares of
Common Stock and may be deemed to have shared power to vote and dispose of
41,008 shares of Common Stock, representing approximately 0.1% of the
outstanding shares of Common Stock.
Wheatley Foreign has sole power to vote and dispose of 41,008 shares
of Common Stock, representing approximately 0.1% of the outstanding shares of
Common Stock and may be deemed to have shared power to vote and dispose of
484,051 shares of Common Stock, representing approximately 1.1% of the
outstanding shares of Common Stock.
By virtue of being the general partner of Wheatley and a general
partner in Wheatley Foreign, Wheatley LLC may be deemed to have shared power to
vote and dispose of 525,059 shares of Common Stock, representing approximately
1.2% of the outstanding shares of Common Stock.
Wheatley II has sole power to vote and dispose of 180,089 shares of
Common Stock, representing approximately 0.4% of the outstanding shares of
Common Stock.
Wheatley III has sole power to vote and dispose of 1,370,015 shares
of Common Stock, representing approximately 3.1% of the outstanding shares of
Common Stock and may be deemed to have shared power to vote and dispose of
592,281 shares of Common Stock, representing approximately 1.3% of the
outstanding shares of Common Stock.
Wheatley Foreign III has sole power to vote and dispose of 293,012
shares of Common Stock, representing approximately 0.7% of the outstanding
shares of Common Stock and may be deemed to have shared power to vote and
dispose of 1,669,824 shares of Common Stock, representing approximately 3.7% of
the outstanding shares of Common Stock.
Wheatley Associates has sole power to vote and dispose of 299,809
shares of Common Stock, representing approximately 0.7% of the outstanding
shares of Common Stock and may be deemed to have shared power to vote and
dispose of 1,663,027 shares of Common Stock, representing approximately 3.7% of
the outstanding shares of Common Stock.
By virtue of being the general partner of Wheatley III, Wheatley
Foreign III and Wheatley Associates, Wheatley III LLC may be deemed to have
shared power to vote and dispose of 1,962,836 shares of Common Stock,
representing approximately 4.4% of the outstanding shares of Common Stock.
Irwin Lieber has sole power to vote and dispose of 1,934,705 shares
of Common Stock, representing approximately 4.3% of the outstanding shares of
Common Stock. By virtue of being a member and an officer of Wheatley LLC and
Wheatley III LLC and a general partner of Wheatley II, Irwin Lieber may be
deemed to have shared power to vote and dispose of 2,667,984 shares of Common
Stock, representing approximately 6.0% of the outstanding shares of Common
Stock.
Barry Fingerhut has sole power to vote and dispose of 332,180 shares
of Common Stock, representing approximately 0.7% of the outstanding shares of
Common Stock. By virtue of being a member and an officer of Wheatley LLC and
Wheatley III LLC and a general partner of Wheatley II, Mr. Fingerhut may be
deemed to have shared power to vote and dispose of 2,667,984 shares of Common
Stock, representing approximately 6.0% of the outstanding shares of Common
Stock.
Nancy Casey has shared power to vote and dispose of 126,325 shares
of Common Stock, representing approximately 0.3% of the outstanding shares of
Common Stock. By virtue of being a member and an officer of Wheatley III LLC,
Ms. Casey may also be deemed to have shared power to vote and dispose of
1,962,836 shares of Common Stock, representing approximately 4.4% of the
outstanding shares of Common Stock.
----------------------------- -----------------------------
CUSIP No. 306137 10 0 13D Page 25 of 33 Pages
----------------------------- -----------------------------
Applegreen has sole power to vote and dispose of 346,491 shares of
Common Stock, representing approximately 0.8% of the outstanding shares of
Common Stock.
Seth Lieber has sole power to vote and dispose of 115,497 shares of
Common Stock, each representing 0.3% of the outstanding shares of Common Stock.
By virtue of being a member and an officer of Wheatley LLC and Wheatley III LLC
and a general partner of Wheatley II and Applegreen, Seth Lieber may be deemed
to have shared power to vote and dispose of 3,014,475 shares of Common Stock,
representing approximately 6.7% of the outstanding shares of Common Stock.
Jonathan Lieber has sole power to vote and dispose of 25,265 shares
of Common Stock, each representing 0.1% of the outstanding shares of Common
Stock. By virtue of being a member and an officer of Wheatley LLC and Wheatley
III LLC, a general partner of Wheatley II and the managing general partner of
Applegreen, Jonathan Lieber may be deemed to have shared power to vote and
dispose of 3,014,475 shares of Common Stock, representing approximately 6.7% of
the outstanding shares of Common Stock.
Seneca has sole power to vote and dispose of 642,453 shares of
Common Stock, representing approximately 1.4% of the outstanding shares of
Common Stock.
Woodland Venture has sole power to vote and dispose of 743,513
shares of Common Stock, representing approximately 1.7% of the outstanding
shares of Common Stock.
Woodland Partners has sole power to vote and dispose of 692,983
shares of Common Stock, representing 1.6% of the outstanding shares of Common
Stock.
Brookwood has sole power to vote and dispose of 526,956 shares of
Common Stock, representing 1.2% of the outstanding shares of Common Stock.
By virtue of being a general partner of Seneca and Woodland Venture,
Woodland Services may be deemed to have shared power to vote and dispose of
1,385,966 shares of Common Stock, representing approximately 3.1% of the
outstanding shares of Common Stock.
Barry Rubenstein has sole power to vote and dispose of 2,077,403
shares of Common Stock, representing approximately 4.7% of the outstanding
shares of Common Stock. By virtue of being a member and an officer of Wheatley
LLC and Wheatley III LLC and a general partner of Wheatley II, Seneca, Woodland
Venture, Woodland Partners and Brookwood, Mr. Rubenstein may be deemed to have
shared power to vote and dispose of 5,282,147 shares of Common Stock,
representing approximately 11.8% of the outstanding shares of Common Stock. Does
not include securities held by Marilyn Rubenstein, the wife of Mr. Rubenstein.
Marilyn Rubenstein has sole power to vote and dispose of 8,258
shares of Common Stock, representing less than one percent of the outstanding
shares of Common Stock. By virtue of being a general partner of Woodland
Partners and Brookwood and an officer of Woodland Services, Mrs. Rubenstein may
be deemed to have shared power to vote and dispose of 2,605,905 shares of Common
Stock, representing approximately 5.8% of the outstanding shares of Common
Stock. Does not include securities held by Barry Rubenstein, the husband of Mrs.
Rubenstein.
Item 5(c) is supplemented as follows:
(c) The following table sets forth a description of all transactions
in shares of Common Stock of the Issuer by the Reporting Persons identified in
Item 2 of this Schedule 13D effected during the past sixty days.
----------------------------- -----------------------------
CUSIP No. 306137 10 0 13D Page 26 of 33 Pages
----------------------------- -----------------------------
Number of
Acquisition/ Shares Sales
Sell/ Sale Purchased/ Price per
Name of Stockholder Acquire Date Acquired Share($)
------------------- ------- ---- --------- --------
Seneca Ventures Sell(1) 6/29/01 70,300 11.60
Woodland Venture Sell(1) 6/29/01 74,100 11.60
Woodland Venture Sell(1) 7/19/01 25,000 10.51
Woodland Venture Sell(1) 7/19/01 25,000 10.52
Woodland Venture Sell(1) 7/20/01 21,400 11.06
Woodland Venture Sell(1) 7/20/01 20,000 11.07
Woodland Partners Sell(1) 7/20/01 42,500 11.12
Woodland Partners Sell(1) 8/7/01 45,000 9.56
Woodland Partners Sell(1) 8/7/01 45,000 9.60
Wheatley Partners, L.P. Acquire 8/22/01 484,051 (2)
Wheatley Foreign Partners, L.P. Acquire 8/22/01 41,008 (2)
Wheatley Partners II, L.P. Acquire 8/22/01 180,089 (2)
Wheatley Partners III, L.P. Acquire 8/22/01 1,370,015 (2)
Wheatley Foreign Partners III, L.P. Acquire 8/22/01 293,012 (2)
Wheatley Associates III, L.P. Acquire 8/22/01 299,809 (2)
Irwin Lieber Acquire 8/22/01 1,905,705 (2)
Barry Fingerhut Acquire 8/22/01 303,180 (2)
Nancy Casey Acquire 8/22/01 126,325 (2)
Applegreen Partners Acquire 8/22/01 346,491 (2)
Seth Lieber Acquire 8/22/01 115,497 (2)
Jonathan Lieber Acquire 8/22/01 25,265 (2)
Seneca Ventures Acquire 8/22/01 642,453 (2)
Woodland Venture Fund Acquire 8/22/01 743,513 (2)
Woodland Partners Acquire 8/22/01 692,983 (2)
Brookwood Partners, L.P. Acquire 8/22/01 526,956 (2)
----------------------------- -----------------------------
CUSIP No. 306137 10 0 13D Page 27 of 33 Pages
----------------------------- -----------------------------
Barry Rubenstein Acquire 8/22/01 1,812,903 (2)
Marilyn Rubenstein Acquire 8/22/01 8,258 (2)
------------------------
(1) Sold in the open market.
(2) Each share of common stock of FalconStor held by the reporting persons
was exchanged for 0.721858 shares of Common Stock of the Issuer as a
result of the closing of the merger of FalconStor and Merger Sub, as
contemplated by the Merger Agreement.
Item 7 is amended to include the following:
Item 7. Materials to be Filed as Exhibits.
---------------------------------
The following documents are filed herewith:
(a) Joint Filing Agreement dated as of September 6, 2001 among
Wheatley Partners, L.P., Wheatley Foreign Partners, L.P.,
Wheatley Partners II, L.P., Wheatley Partners III, L.P.,
Wheatley Foreign Partners III, L.P., Wheatley Associates III,
L.P., Seneca Ventures, Woodland Venture Fund, Woodland Partners,
Brookwood Partners, L.P., Applegreen Partners, Barry Rubenstein,
Marilyn Rubenstein, Irwin Lieber, Seth Lieber, Jonathan Lieber,
Barry Fingerhut and Nancy Casey.
(b) Power of Attorney, dated September 6, 2001, appointing Barry
Rubenstein as attorney-in-fact for Marilyn Rubenstein.
----------------------------- -----------------------------
CUSIP No. 306137 10 0 13D Page 28 of 33 Pages
----------------------------- -----------------------------
SIGNATURES
After reasonable inquiry and to the best of his knowledge and
belief, each of the undersigned certifies that the information set forth in this
statement is true, complete and correct.
Dated: September 6, 2001 WHEATLEY PARTNERS, L.P.
By: Wheatley Partners LLC,
the General Partner
By:/s/ Irwin Lieber, President
-----------------------------------------
Irwin Lieber, President
WHEATLEY FOREIGN PARTNERS, L.P.
By: Wheatley Partners LLC, a General
Partner
By:/s/ Irwin Lieber, President
-----------------------------------------
Irwin Lieber, President
WHEATLEY PARTNERS II, L.P.
By:/s/ Irwin Lieber, President
-----------------------------------------
Irwin Lieber, a General Partner
WHEATLEY PARTNERS III, L.P.
By: Wheatley Partners III LLC,
the General Partner
By:/s/ Irwin Lieber, President
-----------------------------------------
Irwin Lieber, President
WHEATLEY FOREIGN PARTNERS III, L.P.
By: Wheatley Partners III LLC,
the General Partner
By:/s/ Irwin Lieber, President
-----------------------------------------
Irwin Lieber, President
WHEATLEY ASSOCIATES III, L.P.
By: Wheatley Partners III LLC,
the General Partner
By:/s/ Irwin Lieber, President
-----------------------------------------
Irwin Lieber, President
/s/ Irwin Lieber, President
--------------------------------------------
Irwin Lieber
----------------------------- -----------------------------
CUSIP No. 306137 10 0 13D Page 29 of 33 Pages
----------------------------- -----------------------------
/s/ Barry Fingerhut
--------------------------------------------
Barry Fingerhut
/s/ Nancy Casey
--------------------------------------------
Nancy Casey
/s/ Seth Lieber
--------------------------------------------
Seth Lieber
APPLEGREEN PARTNERS
By:/s/ Jonathan Lieber
-----------------------------------------
Jonathan Lieber,
Managing General Partner
/s/ Jonathan Lieber
--------------------------------------------
Jonathan Lieber
SENECA VENTURES
By: /s/ Barry Rubenstein
-----------------------------------------
Barry Rubenstein, a General Partner
WOODLAND VENTURE FUND
By:/s/ Barry Rubenstein
-----------------------------------------
Barry Rubenstein, a General Partner
WOODLAND PARTNERS
By:/s/ Barry Rubenstein
-----------------------------------------
Barry Rubenstein, a General Partner
BROOKWOOD PARTNERS, L.P.
By:/s/ Barry Rubenstein
-----------------------------------------
Barry Rubenstein, a General Partner
/s/ Barry Rubenstein
--------------------------------------------
Barry Rubenstein
/s/ Marilyn Rubenstein
--------------------------------------------
Marilyn Rubenstein
----------------------------- -----------------------------
CUSIP No. 306137 10 0 13D Page 30 of 33 Pages
----------------------------- -----------------------------
EXHIBIT INDEX
The following document is filed herewith:
(a) Joint Filing Agreement dated as of September 6, 2001 among
Wheatley Partners, L.P., Wheatley Foreign Partners, L.P.,
Wheatley Partners II, L.P. Wheatley Partners III, L.P.,
Wheatley Foreign Partners III, L.P., Wheatley Associates III,
L.P., Seneca Ventures, Woodland Venture Fund, Woodland
Partners, Brookwood Partners, L.P., Applegreen Partners,
Barry Rubenstein, Marilyn Rubenstein, Irwin Lieber, Seth
Lieber, Jonathan Lieber, Barry Fingerhut and Nancy Casey.
(b) Power of Attorney, dated September 6, 2001, appointing Barry
Rubenstein as attorney-in-fact for Marilyn Rubenstein.
----------------------------- -----------------------------
CUSIP No. 306137 10 0 13D Page 31 of 33 Pages
----------------------------- -----------------------------
EXHBIT A
JOINT FILING AGREEMENT
The undersigned hereby agree that the Statement on Schedule 13D,
Amendment No. 2 dated September 6, 2001 with respect to the shares of common
stock, $0.01 par value, of Falconstor Software, Inc. and any further amendments
thereto executed by each or any of us shall be filed on behalf of each of us
pursuant to and in accordance with the provisions of Rule 13d-1(f) under the
Securities Exchange Act of 1934, as amended.
This Agreement may be executed in separate counterparts, each of
which shall be deemed an original, but all of which shall constitute one and the
same instrument.
Dated: September 6, 2001 WHEATLEY PARTNERS, L.P.
By: Wheatley Partners LLC,
the General Partner
By:/s/ Irwin Lieber, President
-----------------------------------------
Irwin Lieber, President
WHEATLEY FOREIGN PARTNERS, L.P.
By: Wheatley Partners LLC, a General
Partner
By:/s/ Irwin Lieber, President
-----------------------------------------
Irwin Lieber, President
WHEATLEY PARTNERS II, L.P.
By:/s/ Irwin Lieber, President
-----------------------------------------
Irwin Lieber, a General Partner
WHEATLEY PARTNERS III, L.P.
By: Wheatley Partners III LLC,
the General Partner
By:/s/ Irwin Lieber, President
-----------------------------------------
Irwin Lieber, President
WHEATLEY FOREIGN PARTNERS III, L.P.
By: Wheatley Partners III LLC,
the General Partner
By:/s/ Irwin Lieber, President
-----------------------------------------
Irwin Lieber, President
WHEATLEY ASSOCIATES III, L.P.
By: Wheatley Partners III LLC,
the General Partner
By:/s/ Irwin Lieber, President
-----------------------------------------
Irwin Lieber, President
/s/ Irwin Lieber, President
--------------------------------------------
Irwin Lieber
----------------------------- -----------------------------
CUSIP No. 306137 10 0 13D Page 32 of 33 Pages
----------------------------- -----------------------------
/s/ Barry Fingerhut
--------------------------------------------
Barry Fingerhut
/s/ Nancy Casey
--------------------------------------------
Nancy Casey
/s/ Seth Lieber
--------------------------------------------
Seth Lieber
APPLEGREEN PARTNERS
By:/s/ Jonathan Lieber
-----------------------------------------
Jonathan Lieber,
Managing General Partner
/s/ Jonathan Lieber
--------------------------------------------
Jonathan Lieber
SENECA VENTURES
By: /s/ Barry Rubenstein
-----------------------------------------
Barry Rubenstein, a General Partner
WOODLAND VENTURE FUND
By:/s/ Barry Rubenstein
-----------------------------------------
Barry Rubenstein, a General Partner
WOODLAND PARTNERS
By:/s/ Barry Rubenstein
-----------------------------------------
Barry Rubenstein, a General Partner
BROOKWOOD PARTNERS, L.P.
By:/s/ Barry Rubenstein
-----------------------------------------
Barry Rubenstein, a General Partner
/s/ Barry Rubenstein
--------------------------------------------
Barry Rubenstein
/s/ Marilyn Rubenstein
--------------------------------------------
Marilyn Rubenstein
----------------------------- -----------------------------
CUSIP No. 306137 10 0 13D Page 33 of 33 Pages
----------------------------- -----------------------------
EXHIBIT B
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS, that the person whose signature
appears below constitutes and appoints BARRY RUBENSTEIN, his true and lawful
attorney-in-fact and agent, with full power of substitution and resubstitution,
for him and in his name, place and stead, in any and all capacities, to sign any
and all statements and reports required under Section 13(d) of the Securities
Exchange Act of 1934, as amended, including, without limitation, Schedule 13D
and all amendments of all such statements and/or reports, and to file the same,
with all exhibits thereto, and other documents in connection therewith, with the
Securities and Exchange Commission and with such other parties as may be
required, granting unto said attorney-in-fact and agent, and each of them, full
power and authority to do and perform each and every act and thing requisite and
necessary to be done in and doubt the premises, as fully to all intents and
purposes as he might or could do in person, hereby ratifying and confirming all
that said attorney-in-fact and agent or any of them, or their or his substitute
or substitutes, may lawfully do or cause to be done by virtue thereof.
IN WITNESS WHEREOF, I have hereunto set my hand this 6th day of
September, 2001.
/s/ Marilyn Rubenstein
-------------------------
Marilyn Rubenstein