SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Schedule 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
MICROFINANCIAL INCORPORATED
(Name of Issuer)
COMMON STOCK, PAR VALUE $.01 PER SHARE
(Title of Class of Securities)
595072109
(CUSIP Number)
Goodloe M. Partee, Esq.
Kutak Rock LLP
425 West Capitol Avenue, Suite 1100
Little Rock, Arkansas 72201
(501) 975-3000
(Name, Address and Telephone Number of Person Authorized To Receive Notices and
Communications)
January 11, 2000
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to
report the acquisition which is the subject of this Schedule 13D, and is filing
this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g) check the following
box [ ]
CUSIP NO. 595072109
-----------------
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1. NAMES OF REPORTING PERSON Key Colony Fund, L.P.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (entities only).
------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
2 (a) [_]
(b) [_]
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SEC USE ONLY
3
------------------------------------------------------------------------------
SOURCE OF FUNDS (See Instructions)
4
WC
------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5 Not Applicable
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CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
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SOLE VOTING POWER
7
NUMBER OF
495,000
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 0
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
495,000
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
0
------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
495,000
------------------------------------------------------------------------------
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
12
(See Instructions) Not Applicable
------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
3.89%
------------------------------------------------------------------------------
TYPE OF REPORTING PERSON (See Instructions)
14
IC
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CUSIP NO. 595072109
-----------------
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1 NAME OF REPORTING PERSON Lieblong Transport, Inc.
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (entities only).
------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
2 (a) [_]
(b) [_]
------------------------------------------------------------------------------
SEC USE ONLY
3
------------------------------------------------------------------------------
SOURCE OF FUNDS (See Instructions)
4
WC
------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5 Not Applicable
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CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
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SOLE VOTING POWER
7
NUMBER OF
5,000
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 0
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
5,000
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
0
------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
5,000
------------------------------------------------------------------------------
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
12
(See Instructions) Not Applicable
------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
.04%
------------------------------------------------------------------------------
TYPE OF REPORTING PERSON (See Instructions)
14
CO
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CUSIP NO. 595072109
-----------------
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1 NAME OF REPORTING PERSON Alex R. Lieblong IRA
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only).
------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
2 (a) [_]
(b) [_]
------------------------------------------------------------------------------
SEC USE ONLY
3
------------------------------------------------------------------------------
SOURCE OF FUNDS (See Instructions)
4
PF
------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5 Not Applicable
------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Arkansas
------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
4,100
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 0
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
4,100
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
0
------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
4,100
------------------------------------------------------------------------------
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
12
(See Instructions) Not Applicable
------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
.03%
------------------------------------------------------------------------------
TYPE OF REPORTING PERSON (See Instructions)
14
EP
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CUSIP NO. 595072109
-----------------
------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON Key Colony Management LLC
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only).
------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
2 (a) [_]
(b) [_]
------------------------------------------------------------------------------
SEC USE ONLY
3
------------------------------------------------------------------------------
SOURCE OF FUNDS (See Instructions)
4
WC
------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5 Not Applicable
------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF 495,000
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 0
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
495,000
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
0
------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
495,000
------------------------------------------------------------------------------
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
12
(See Instructions) Not Applicable
------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
3.89%
------------------------------------------------------------------------------
TYPE OF REPORTING PERSON (See Instructions)
14
HC
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CUSIP NO. 595072109
-----------------
------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON Alex R. Lieblong
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (entities only).
------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
2 (a) [_]
(b) [_]
------------------------------------------------------------------------------
SEC USE ONLY
3
------------------------------------------------------------------------------
SOURCE OF FUNDS (See Instructions)
4
PF
------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5 Not Applicable
------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
United States
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SOLE VOTING POWER
7
NUMBER OF
591,700
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 37,600
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
591,700
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
37,600
------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
629,300
------------------------------------------------------------------------------
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
12
(See Instructions) Not Applicable
------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
4.95%
------------------------------------------------------------------------------
TYPE OF REPORTING PERSON (See Instructions)
14
IN
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CUSIP NO. 595072109
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------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON Paul Spann
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (entities only).
------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
2 (a) [_]
(b) [_]
------------------------------------------------------------------------------
SEC USE ONLY
3
------------------------------------------------------------------------------
SOURCE OF FUNDS (See Instructions)
4
PF
------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5 Not Applicable
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CITIZENSHIP OR PLACE OF ORGANIZATION
6
United States
------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
8,900
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 0
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
8,900
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
0
------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
8,900
------------------------------------------------------------------------------
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
12
(See Instructions) Not Applicable
------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
.07%
------------------------------------------------------------------------------
TYPE OF REPORTING PERSON (See Instructions)
14
IN
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CUSIP NO. 595072109
-----------------
------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON Jason R. Lieblong
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (entities only).
------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
2 (a) [_]
(b) [_]
------------------------------------------------------------------------------
SEC USE ONLY
3
------------------------------------------------------------------------------
SOURCE OF FUNDS (See Instructions)
4
PF
------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5 Not Applicable
------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
United States
------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
15,300
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 0
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
15,300
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
0
------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
15,300
------------------------------------------------------------------------------
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
12
(See Instructions) Not Applicable
------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
.12%
------------------------------------------------------------------------------
TYPE OF REPORTING PERSON (See Instructions)
14
IN
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ITEM 1. SECURITY AND ISSUER.
This Schedule 13D relates to the Common Stock, par value $.01 per share
(the "Common Stock"), of Microfinancial Incorporated, a Massachusetts
corporation (the "Company"). The principal executive offices of the Company are
located at 950 Winter Street, Waltham, MA 02451.
ITEM 2. IDENTITY AND BACKGROUND.
(a) This statement is filed by the following entities (the "Reporting
Persons"):
(i) Key Colony Fund, LP, a Delaware limited partnership (the "Fund"),
with respect to shares of Common Stock held directly by it;
(ii) Lieblong Transport, Inc., a Delaware corporation ("Transport"), with
respect to shares of Common Stock held directly by it;
(iii) Alex R. Lieblong IRA ("IRA"), with respect to shares of Common Stock
held directly by it;
(iv) Key Colony Management LLC, a Delaware limited liability company (the
"General Partner"), with respect to shares of Common Stock held by the
Fund;
(v) Alex R. Lieblong, an United States citizen, with respect to shares
of Common Stock held directly by him and shares held by the Fund, Transport
and the IRA;
(vi) Jason R. Lieblong, an United States citizen, with respect to shares
of Common Stock held directly by him; and
(vii) Paul Spann, an United States citizen, with respect to shares of
Common Stock held directly by him.
(b) The business address for each of the Reporting Persons is 10825 Financial
Centre Parkway, Suite 100, Little Rock, AR 72211.
(c) The Fund is a private investment partnership, and its general partner is
the General Partner. Transport's business includes investments and the
operation of an airplane, and it is controlled by Mr. Alex Lieblong, who
also serves as its director and officer. The General Partner manages the
Fund, and Mr. Lieblong is the General Partner's sole member. Messrs. Alex
Lieblong, Jason Lieblong and Paul Spann are all employees of Lieblong &
Associates, Inc., which is controlled by Mr. Alex Lieblong. The business
address of Lieblong and Associates, Inc. is 10825 Financial Centre Parkway,
Suite 100, Little Rock, AR 72211.
(d) None of the Reporting Persons has, during the last five years, been
convicted in a criminal proceeding (excluding traffic violations and
similar misdemeanors).
(e) None of the Reporting Persons has, during the last five years, been a 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 maintaining activities subject to,
federal or state securities laws or finding any violation with respect to
such laws.
(f) See (a) above.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
The Reporting Persons purchased an aggregate of 653,500 shares of the
Common Stock of the Company with funds in the amount of $6,907,280. These
funds were from the working capital of the business entities and the personal
funds of the individuals.
ITEM 4. PURPOSE OF TRANSACTION.
The Common Stock of the Company was purchased by the Reporting Persons
primarily for investment purposes. The Reporting Persons will evaluate the
Company's financial condition, business operations and prospects, the market
price of the Common Stock, alternative investment opportunities, conditions in
the securities market generally and other factors on an ongoing basis.
Accordingly, the Reporting Persons reserve the right to change their plans and
intentions at any time. The reporting Persons specifically reserve the right to
purchase additional shares or sell shares of Common Stock of the Company on the
open market or in private transactions, to communicate with other shareholders
of the Company, to seek the election of representation of any of the Reporting
Persons or their associates to the Board of Directors of the Company and to take
other action that could influence or control management of the Company.
ITEM 5. INTEREST IN SECURITIES OF THE COMPANY.
(a) Information with respect to the aggregate number, and percentage, of all
shares of Common Stock beneficially owned as of January 18, 2001 by each of
the Reporting Persons is set forth below. Percentage calculations are
based on an assumed 12,710,946 shares of outstanding Common Stock, as shown
on the Company Form 10-Q for the quarter ended September 30, 2000.
SHARES OF PERCENTAGE OF
--------- -------------
NAME COMMON STOCK OUTSTANDING
---- ------------ -----------
SHARES
------
Key Colony Fund, L.P. 495,000 3.89%
Lieblong Transport, Inc. 5,000 .04%
Alex R. Lieblong IRA 4,100 .03%
Key Colony Management LLC 495,000 3.89%
Alex R. Lieblong 629,300 4.95%
Paul Spann 8,900 .07%
Jason R. Lieblong 15,300 .12%
(b) The Reporting Persons' response to Items 7 through 13 of the cover pages of
this Schedule 13D relating to beneficial ownership of shares of Common
Stock are incorporated herein by reference. Mr. Alex R. Lieblong, as
manager of the General Partner and shareholder and director of Transport,
has the sole power to vote and dispose of the shares of Common Stock
beneficially owned by the Fund, the General Partner, Transport and the IRA.
(c) The Reporting Persons, at the present time, collectively own 653,500 shares
of the Common Stock (constituting approximately 5.14% of all of the
outstanding shares of Common Stock). Transactions in the open market by
the Fund and Mr. Jason R. Lieblong in shares of Common Stock of the Company
in the last sixty days are listed below. No other Reporting Person
effected transactions in the Common Stock in the last 60 days.
KEY COLONY FUND, L.P.
NUMBER PRICE
------ -----
DATE OF SHARES PER SHARE
---- --------- ---------
1/18/01 1,900 12.875
1/12/01 5,000 12.5
1/11/01 2,500 12.5
1/9/01 10,000 12.375
1/8/01 2,700 12.5
1/3/01 1,000 12
1/2/01 2,000 11.75
12/19/00 1,500 11.5
12/18/00 7,900 11.25
12/15/00 500 11.25
12/1/00 1,500 10.5
11/24/00 2,100 10.375
11/24/00 3,000 10.375
11/20/00 10,000 10
11/16/00 3,000 10.125
11/16/00 6,000 10.1875
JASON R. LIEBLONG
NUMBER PRICE
------ -----
DATE OF SHARES PER SHARE
---- --------- ---------
12/18/00 2,500 11.250
NUMBER PRICE
------ -----
DATE OF SHARES PER SHARE
---- --------- ---------
12/18/00 2,000 11.250
12/11/00 1,800 11.375
11/28/00 2,000 10.938
11/28/00 1,000 10.938
11/28/00 1,000 10.813
(d) Except for Ms. JoAnn Lieblong, who shares voting and dispositive power with
Mr. Alex R. Lieblong with respect to 37,600 shares of Common Stock, no
other person other than the Reporting Persons has the right to receive or
the power to direct the receipt of dividends from, or the proceeds of sale
of, any of the Common Stock beneficially owned by the Reporting Persons.
(e) Not applicable.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO
SECURITIES OF THE COMPANY.
None.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
Exhibit A - Agreement as to joint filings pursuant to Regulation Section
240.13d-1(k)(1)(iii).
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Dated: January 18, 2000 KEY COLONY FUND, L.P.
By: Key Colony Management LLC
By: /s/ Alex R. Lieblong
Name: Alex R. Lieblong
Title: Manager
LIEBLONG TRANSPORT, INC.
By: /s/ Alex R. Lieblong
Name: Alex R. Lieblong
Title: President
ALEX R. LIEBLONG IRA
/s/ Alex R. Lieblong
KEY COLONY MANAGEMENT LLC
By: /s/ Alex R. Lieblong
Name: Alex R. Lieblong
Title: Manager
PAUL SPANN
/s/ Paul Spann
ALEX R. LIEBLONG
/s/ Alex R. Lieblong
JASON R. LIEBLONG
/s/ Jason R. Lieblong
EXHIBIT A
---------
AGREEMENT AS TO JOINT FILING
Pursuant to Regulation Section 240.13d-1(k)(1)(iii), the undersigned
acknowledge and agree that the attached Schedule 13D relating to International
Aircraft Investors is being filed on behalf of each of the undersigned.
Dated: January 18, 2000 KEY COLONY FUND, L.P.
By: Key Colony Management LLC
By: /s/ Alex R. Lieblong
Name: Alex R. Lieblong
Title: Manager
LIEBLONG TRANSPORT, INC.
By: /s/ Alex R. Lieblong
Name: Alex R. Lieblong
Title: President
ALEX R. LIEBLONG IRA
/s/ Alex R. Lieblong
KEY COLONY MANAGEMENT LLC
By: /s/ Alex R. Lieblong
Name: Alex R. Lieblong
Title: Manager
PAUL SPANN
/s/ Paul Spann
ALEX R. LIEBLONG
/s/ Alex R. Lieblong
JASON R. LIEBLONG
/s/ Jason R. Lieblong