[Federal Register Volume 60, Number 2 (Wednesday, January 4, 1995)]
[Notices]
[Page 521]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-137]



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SMALL BUSINESS ADMINISTRATION
[License No. 02/02-0292]


Winfield Capital Corporation; Notice of Filing of an Application 
for Transfer of Ownership and Control

    Notice is hereby given of the filing of an application with the 
Small Business Administration (SBA) pursuant to Sec. 107.102 of the 
Regulations governing small business investment companies (13 CFR 
107.102 (1994)) by Winfield Capital Corporation, 237 Mamaroneck Avenue, 
White Plains, New York 10605, for transfer of ownership and control of 
its license, under the Small Business Investment Act of 1958, as 
amended, (the Act) (15 U.S.C. et. seq.). Winfield Capital Corporation 
was licensed on April 19, 1972.
    The Applicant currently operates with private capital totaling 
$1,250,000. as part of this application for change of control and 
ownership, new investors (Messrs. Paul A. Perlin and Mr. David 
Greenberg, listed below) have negotiated with existing shareholders of 
the Applicant to purchase through an executed stock purchase agreement, 
all of the outstanding common stock of the Applicant. Simultaneously, 
and with the assistance of one of the new investors, the Applicant 
intends to raise new equity capital in an amount up to $3.0 million 
through a private placement of the company's securities. The proposed 
majority Shareholders of Winfield Capital Corporation subsequent to the 
sale of the company's securities are as follows:

------------------------------------------------------------------------
                                                              Percentage
                            Name                                  of    
                                                              ownership 
------------------------------------------------------------------------
Mr. Paul A. Perlin, 137 East 36th Street, New York, New                 
 York 10016................................................     \1\14.80
Mr. David Greenberg, 7 Stream Court, Owings Mills, Maryland             
 21117.....................................................      \1\8.60
Mr. Stanley M. Pechman, President, Winfield Capital                     
 Corporation, 237 Mamaroneck Avenue, White Plains, New York             
 10605.....................................................         1.90
All Directors and Officers as a Group (5 persons)..........        25.3 
------------------------------------------------------------------------
A\1\These ownership percentages reflect the purchase of all current     
  outstanding shares of Winfield Capital Corporation's common stock and 
  does not assume any investment in the simultaneous private placement  
  of additional securities being offered. It is anticipated however,    
  that Perlin and Greenberg will be investing in the aggregate          
  approximately $400,000 in the offering, thereby increasing both       
  individuals proposed holding to in excess of 10 percent of the        
  Applicant.                                                            

    It is estimated that there will be less than 50 beneficial owners 
of the Applicant's common stock subsequent to the transactions 
contemplated by this application. It is not anticipated that any 
corporation, partnership or other entity except for Mr. Paul A. Perlin 
and Mr. David Greenberg will own 10 percent or more of the outstanding 
shares of the Applicant subsequent to this transaction.
    As part of the change of control there will be change in the 
management and composition of the Board of Directors of the Applicant. 
The new proposed Officers and Directors of Winfield Capital Corporation 
are as follows:

------------------------------------------------------------------------
                 Name                                Title              
------------------------------------------------------------------------
Mr. Paul A. Perlin, 137 East 36th      Chairman, Chief Executive        
 Street, New York, New York 10016.      Officer, Director.              
Mr. Stanley M. Pechman, President,     President and Director.          
 Winfield Capital Corporation, 237                                      
 Mamaroneck Avenue, White Plains, New                                   
 York 10605.                                                            
Mr. Bruce A. Kaufman, 5-15 117th       Secretary and Treasurer.         
 Street, 2F, College, Point, New York                                   
 10017.                                                                 
Mr. David Greenberg, 7 Stream Court,   Director.                        
 Owings Mills, Maryland 21117.                                          
Mr. R. Scott Perlin, 40 East 94th      Director.                        
 Street, New York, New York 10128.                                      
------------------------------------------------------------------------

    The Applicant will continue operations subsequent to the planned 
private placement with private capital net of expenses of approximately 
$4,100,000.
    Matters involved in SBA's consideration of the application include 
the general business reputation and character of the proposed owners 
and management, and the probability of successful operations of the new 
company under their management, including profitability and financial 
soundness in accordance with the Act and Regulations.
    Notice is hereby given that any person may, not later than 30 days 
from the date of publication of this Notice, submit written comments on 
the proposed SBIC to the Associate Administrator for Investment, Small 
Business Administration, 409 3rd Street, SW, Washington, DC 20416.
    A copy of this Notice will be published in a newspaper of general 
circulation in Greater New York Metropolitan Area.

(Catalog of Federal Domestic Assistance Programs No. 59.011, Small 
Business Investment Companies).

    Dated: December 27, 1994.
Darryl K. Hairston,
Deputy Associate Administrator for Investment.
[FR Doc. 95-137 Filed 1-3-95; 8:45 am]
BILLING CODE 8025-01-M