SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
----------------------
AMENDMENT NO. 4 TO
SCHEDULE 13D
(RULE 13D-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
RULE 13d-2(a)
LENDINGTREE, INC.
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(Name of Issuer)
COMMON STOCK, PAR VALUE $0.01 PER SHARE
--------------------------------------------------------------------------------
(Title of Class of Securities)
526020-10-5
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(CUSIP Number)
Capital Z Management, LLC
54 Thompson Street
New York, New York 10012
Attention: David A. Spuria, Esq.
(212) 965-0800
--------------------------------------------------------------------------------
(Name, address and telephone number of person
authorized to receive notices and communications)
March 27, 2002
--------------------------------------------------------------------------------
(Date of event which requires filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition that is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(e), (f) or (g), check the following box. [ ]
Note: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See Rule 13d-7(b) for other
parties to whom copies are to be sent.
========= =============================================================================================================
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (entities only)
Specialty Finance Partners
--------- -------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X]
--------- -------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
--------- -------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
00 - Contributions from Partners
--------- -------------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEM 2(d) or 2(e) [ ]
--------- -------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Bermuda
-------------------------------------------- ------- ------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
SHARES 6,444,265*
BENEFICIALLY ------- ------------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING
PERSON ------- ------------------------------------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
6,444,265*
------- ------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
-------------------------------------------- ------- ------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
6,444,265*
--------- -------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11
EXCLUDES CERTAIN SHARES
[ ]
--------- -------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
27.3%*
--------- -------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
--------- -------------------------------------------------------------------------------------------------------------
*Assumes conversion of 4,000,000 shares of Series A 8% Convertible Preferred
Stock beneficially owned by such Reporting Person. See Item 5.
2
========= =============================================================================================================
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (entities only)
Capital Z Financial Services Fund II, L.P.*
--------- -------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
--------- -------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
--------- -------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
Not Applicable
--------- -------------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEM 2(d) or 2(e) [ ]
--------- -------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Bermuda
-------------------------------------------- ------- ------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
SHARES ------- ------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 6,444,265*
REPORTING ------- ------------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH
------- ------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
6,444,265*
-------------------------------------------- ------- ------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
6,444,265*
--------- -------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11
EXCLUDES CERTAIN SHARES
[ ]
--------- -------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
27.3%
--------- -------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
--------- -------------------------------------------------------------------------------------------------------------
*Solely in its capacity as a general partner of Specialty Finance Partners.
3
========= =============================================================================================================
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (entities only)
Capital Z Partners, L.P.*
--------- -------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
--------- -------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
--------- -------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
Not Applicable
--------- -------------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEM 2(d) or 2(e) [ ]
--------- -------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Bermuda
-------------------------------------------- ------- ------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
SHARES ------- ------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 6,444,265*
REPORTING ------- ------------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH
------- ------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
6,444,265*
-------------------------------------------- ------- ------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
6,444,265*
--------- -------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11
EXCLUDES CERTAIN SHARES
[ ]
--------- -------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
27.3%
--------- -------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
--------- -------------------------------------------------------------------------------------------------------------
*Solely in its capacity as the sole general partner of Capital Z Financial
Services Fund II, L.P.
4
========= =============================================================================================================
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (entities only)
Capital Z Partners, Ltd.*
--------- -------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
--------- -------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
--------- -------------------------------------------------------------------------------------------------------------
4 SOURCE OF FUNDS
Not Applicable
--------- -------------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEM 2(d) or 2(e) [ ]
--------- -------------------------------------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Bermuda
-------------------------------------------- ------- ------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
SHARES ------- ------------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY
EACH 6,444,265*
REPORTING ------- ------------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH
------- ------------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
6,444,265*
-------------------------------------------- ------- ------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
6,444,265*
--------- -------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11
EXCLUDES CERTAIN SHARES
[ ]
--------- -------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
27.3%
--------- -------------------------------------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
--------- -------------------------------------------------------------------------------------------------------------
*Solely in its capacity as the sole general partner of Capital Z Partners, L.P.
5
This Amendment No. 4 amends the statement on Schedule 13D, dated
October 10, 2000 (the "Initial Schedule 13D"), as amended in
certain respects by Amendment No. 1 thereto ("Amendment No. 1"),
Amendment No. 2 thereto ("Amendment No. 2") and Amendment No. 3
thereto ("Amendment No. 3 and together with the Initial Schedule
13D, Amendment No. 1 and Amendment No. 2, the "Schedule 13D"), and
is filed jointly on behalf of Specialty Finance Partners, a
Bermuda general partnership ("Specialty Finance Partners"),
Capital Z Financial Services Fund II, L.P., a Bermuda limited
partnership ("Capital Z Fund II"), Capital Z Partners, L.P., a
Bermuda limited partnership ("Capital Z L.P."), and Capital Z
Partners, Ltd., a Bermuda corporation ("Capital Z Ltd.") (each, a
"Reporting Person" and together, the "Reporting Persons"), with
respect to the shares of Common Stock, $0.01 par value per share
(the "Common Stock") of LendingTree, Inc. (the "Company").
The Schedule 13D is hereby amended as follows:
Item 5. Interest in Securities of Issuer.
The information contained in Item 5(a) -(b) of Amendment No. 3 and
the information contained in Item 5(c) of Amendment No. 1 is
hereby amended and restated in its entirety as follows:
(a)-(b)
Specialty Finance Partners beneficially owns in the aggregate
6,444,265 shares of Common Stock by virtue of the fact that it is
the holder of record of 2,096,420 shares of Common Stock and of
its expected current ability to convert (as discussed in Item 6 of
Amendment No. 1) 4,000,000 shares of Series A 8% Convertible
Preferred Stock, $0.01 par value per share (the "Series A
Preferred Stock"), into 4,347,845 shares of Common Stock.
Specialty Finance Partners has the sole power to vote or direct
the vote, or to dispose or to direct the disposition, of such
shares.
Capital Z Fund II (the general partner of Specialty Finance
Partners), Capital Z L.P. (the sole general partner of Capital Z
Fund II) and Capital Z Ltd. (the sole general partner of Capital Z
L.P.) may be deemed to beneficially own in the aggregate 6,444,265
shares of the Common Stock of the Company by virtue of Specialty
Finance Partners' ownership of shares of Common Stock and its
expected ability to convert the shares of Series A Preferred Stock
owned by it into shares of Common Stock. Each of Capital Z Fund
II, Capital Z L.P. and Capital Z Ltd. has the shared power to vote
or to direct the vote, and to dispose or to direct the
disposition, of such shares.
On an as-converted-to-Common Stock basis, the Reporting Persons'
total beneficial ownership of Common Stock of the Company is
approximately 27.3% (based on calculations made in accordance with
6
Rule 13d-3(d) of the Securities Exchange Act of 1934, as amended
(the "Exchange Act"), and based on the number of shares of Common
Stock outstanding as of December 31, 2001, and assuming the shares
of Series A Preferred Stock owned by the Reporting Persons are
converted into Common Stock). Each of the Reporting Persons
disclaims beneficial ownership of all securities covered by this
Amendment not owned of record by it.
(c) Except for the transactions described below effected through
broker/dealers pursuant to Rule 144 under the Securities Act of
1933, none of the Reporting Persons has effected any transactions
in shares of Common Stock or Series A Preferred Stock during the
past 60 days:
--------------------------- ------------------------- ----------------------------------- ------------------------
Reporting Person with Number of Shares
Direct Beneficial Date of Sale of Common Stock Sold Price Per Share
Ownership ------------ -------------------- ---------------
---------
--------------------------- ------------------------- ----------------------------------- ------------------------
Specialty Finance Partners 2/14/02 25,000 $8.08
--------------------------- ------------------------- ----------------------------------- ------------------------
Specialty Finance Partners 2/14/02 50,000 $8.15
--------------------------- ------------------------- ----------------------------------- ------------------------
Specialty Finance Partners 2/20/02 35,000 $8.0343
--------------------------- ------------------------- ----------------------------------- ------------------------
Specialty Finance Partners 3/27/02 1,750,000 $11.75
--------------------------- ------------------------- ----------------------------------- ------------------------
Item 6. Contracts, Arrangements, Understandings or Relationships With
Respect to Securities of Issuer.
The information contained in Item 6 of Amendment No. 3 is hereby
incorporated by reference herein.
On March 27, 2002, Specialty Finance Partners entered into a
lock-up agreement (the "Lock-Up Agreement") with the Company in
which it agreed not to sell any additional shares of stock of the
Company prior to August 9, 2002 without the Company's consent,
subject to certain exceptions.
7
Item 7. Material to Be Filed as Exhibits.
Exhibit 1. Lock-Up Agreement, dated as of March 27, 2002, by and between
Specialty Finance Partners and the Company.
8
SIGNATURES
After reasonable inquiry and to the best of my knowledge and belief,
each of the undersigned certifies that the information set forth in this
Statement is true, complete, and correct.
Date: April 3, 2002
SPECIALTY FINANCE PARTNERS
By: /s/ David A. Spuria
-----------------------------------------------
David A. Spuria
General Counsel, Vice President of
Administration and Secretary
CAPITAL Z FINANCIAL SERVICES
FUND II, L.P.
By: /s/ David A. Spuria
-----------------------------------------------
David A. Spuria
General Counsel, Vice President of
Administration and Secretary
CAPITAL Z PARTNERS, L.P.
By: /s/ David A. Spuria
-----------------------------------------------
David A. Spuria
General Counsel, Vice President of
Administration and Secretary
CAPITAL Z PARTNERS, LTD.
By: /s/ David A. Spuria
-----------------------------------------------
David A. Spuria
General Counsel, Vice President of
Administration and Secretary
9
EXHIBIT INDEX
-------------
Exhibit 1. Lock-up Agreement, dated as of March 27, 2002, by and
between Specialty Finance Partners and the Company.
10