SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 13D/A
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULE 13d-1(a)
AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(a)
(Amendment No. 1)*
Video Network Communications, Inc.
(Name of Issuer)
Common Stock, $0.01 Par Value
(Title of Class of Securities)
674421201
(CUSIP Number)
Alexander Russo, Esq.
Executive Vice President, Corporate Development
and General Counsel
Moneyline Telerate Holdings
233 Broadway, New York NY 10279
Telephone: 212-553-2500
With copies to:
Joseph A. Coco, Esq.
Skadden, Arps, Slate, Meagher & Flom LLP
Four Times Square
New York, New York 10036
Telephone: 212-735-3000
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
July 9, 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), 13d-1(f) or 13d-1(g), check
the following box [ ].
Note: Schedules filed in paper format shall include a signed original and
five copies of the schedule, including all exhibits. See Rule 13d-7(b) for
other parties to whom copies are to be sent.
*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which
would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities
Exchange Act of 1934 (the "Exchange Act") or otherwise subject to the
liabilities of that section of the Act but shall be subject to all other
provisions of the Act (however, see the Notes).
CUSIP No. 674421201 13D
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Moneyline Networks, LLC ("Moneyline Networks")
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF GROUP
[ ] (a)
[ ] (b)
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3 SEC USE ONLY
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4 SOURCES OF FUNDS
AF
------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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7 SOLE VOTING POWER
NUMBER OF 0
SHARES ---------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY EACH 33,302,863
REPORTING ---------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
0
---------------------------------------------------
10 SHARED DISPOSITIVE POWER
33,302,863
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
33,302,863
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12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
68.4%
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14 TYPE OF REPORTING PERSON
OO-Limited Liability Company
---------- -------------------------------------------------------------------
CUSIP No. 674421201 13D
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Moneyline Telerate Holdings
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF GROUP
[ ] (a)
[ ] (b)
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3 SEC USE ONLY
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4 SOURCES OF FUNDS
WC
------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e) [ ]
------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES ---------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY EACH 33,302,863**
REPORTING ---------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
0
---------------------------------------------------
10 SHARED DISPOSITIVE POWER
33,302,863**
------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
33,302,863**
------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ]
------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
68.4%
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14 TYPE OF REPORTING PERSON
CO
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** Represents shares directly beneficially owned by Moneyline Networks.
CUSIP No. 674421201 13D
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Bank One Investment Corporation
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF GROUP
[ ] (a)
[ ] (b)
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3 SEC USE ONLY
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4 SOURCES OF FUNDS
AF
------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e) [ ]
------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES --------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY EACH 33,302,863**
REPORTING --------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
0
--------------------------------------------------
10 SHARED DISPOSITIVE POWER
33,302,863**
------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
33,302,863**
------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ]
------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
68.4%
------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
------------------------------------------------------------------------------
** Represents shares directly beneficially owned by Moneyline Networks.
CUSIP No. 674421201 13D
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Banc One Capital Corporation
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF GROUP
[ ] (a)
[ ] (b)
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3 SEC USE ONLY
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4 SOURCES OF FUNDS
AF
------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e) [ ]
------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES --------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY EACH 33,302,863**
REPORTING --------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
0
--------------------------------------------------
10 SHARED DISPOSITIVE POWER
33,302,863**
------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ]
------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
68.4%
------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
------------------------------------------------------------------------------
** Represents shares directly beneficially owned by Moneyline Networks.
CUSIP No. 674421201 13D
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1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Banc One Financial Corporation
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF GROUP
[ ] (a)
[ ] (b)
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3 SEC USE ONLY
------------------------------------------------------------------------------
4 SOURCES OF FUNDS
AF
------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e) [ ]
------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES ---------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY EACH 33,302,863**
REPORTING ---------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
0
---------------------------------------------------
10 SHARED DISPOSITIVE POWER
33,302,863**
------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
33,302,863**
------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [
------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
68.4%
------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
------------------------------------------------------------------------------
** Represents shares directly beneficially owned by Moneyline Networks.
CUSIP No. 674421201 13D
-----------------
------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Bank One Corporation
------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF GROUP
[ ] (a)
[ ] (b)
------------------------------------------------------------------------------
3 SEC USE ONLY
------------------------------------------------------------------------------
4 SOURCES OF FUNDS
WC
------------------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e) [ ]
------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES ---------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY EACH 33,302,863**
REPORTING ---------------------------------------------------
PERSON WITH 9 SOLE DISPOSITIVE POWER
0
---------------------------------------------------
10 SHARED DISPOSITIVE POWER
33,302,863**
------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
33,302,863**
------------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ]
------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
68.4%
------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
HC, CO
------------------------------------------------------------------------------
** Represents shares directly beneficially owned by Moneyline Networks.
Schedule 13D
This Amendment No. 1 amends and supplements the Statement on Schedule 13D
filed with the Securities and Exchange Commission on May 28, 2002 (the
"Statement"). Capitalized terms used and not defined herein shall have the
meanings assigned to such terms in the Statement.
Item 1. Security and Issuer.
Item 1 is hereby amended by the following:
This statement on Schedule 13D/A relates to 33,302,863 shares of the common
stock, par value $0.01 per share (the "Common Stock"), of Video Network
Communications, Inc., a Delaware corporation (the "Company"). The Company's
principal executive offices are located at 50 International Drive,
Portsmouth, New Hampshire 03801.
Item 3. Source and Amount of Funds or Other Consideration.
Item 3 is hereby amended by adding the following:
On July 9, 2002, pursuant to the terms of the Warrant Agreement, Moneyline
Networks elected to partially convert the warrant to purchase 11,250,000
shares of Common Stock. As a result of this conversion, Moneyline Networks
received 8,202,863 newly issued shares of Common Stock in exchange for its
conversion of 11,150,000 shares of Common Stock underlying the warrant and
retained the right pursuant to the warrant to purchase up to 100,000 shares
of Common Stock (which shares were not subject to the aforementioned
conversion) at a price of $0.60 per share, subject to adjustment as set
forth in the Warrant Agreement.
Pursuant to the terms of the Warrant Agreement, no funds were paid by
Moneyline Networks to the Company in connection with its exercise of the
conversion right. The number of shares of Common Stock received by
Moneyline Networks upon the conversion was determined by dividing the
"Value" of the warrant by the last reported sale price of the Common Stock
as reported on the OTC Bulletin Board on July 9, 2002 (which was $2.27). As
used in this paragraph, "Value" means the difference between (i) the stated
exercise price of the warrant multiplied by the total number of shares of
Common Stock underlying the portion of the warrant being converted, and
(ii) the last reported sale price of the Common Stock as reported on the
OTC Bulletin Board multiplied by the total number of shares of Common Stock
underlying the portion of the warrant being converted.
Item 4. Purpose of Transaction.
The first two paragraphs of Item 4 are hereby amended by the following:
The purpose of the acquisition of the shares of Common Stock by Moneyline
Networks pursuant to the Stock Purchase Agreement was to acquire a
controlling equity interest in the Company. Upon completion of the
transactions pursuant to the Stock Purchase Agreement and the partial
conversion of the Warrant, Moneyline Networks has a direct beneficial
ownership of 68.4% of the Company.
Upon the consummation of the transactions contemplated by the Stock
Purchase Agreement, the number of directors constituting the entire board
of directors of the Company (the "Board") was fixed at seven and
simultaneously therewith, four of the members of the Board resigned from
the Board and any committees thereof in order to permit the appointment of
David Walsh, Jonathan Robson and Alexander Russo to fill such vacancies,
each of whom was appointed as an initial Moneyline Nominee (as defined
below). The Board also appointed Charles Auster as an initial Moneyline
Nominee to the Board, which appointment became effective upon the
expiration of the ten day period following the filing and transmission to
record holders of the information statement required by Section 14(f) and
Rule 14f-1 of the Exchange Act with the Securities and Exchange Commission.
Such information statement was filed and transmitted on May 22, 2002 and
Mr. Auster's appointment to the Board became effective on June 1, 2002.
Item 5. Interest in Securities of the Issuer.
Item 5 is hereby amended by the following:
(a) Moneyline Networks beneficially owns an aggregate of 33,302,863 shares
of Common Stock, or approximately 68.4% of the Company's outstanding Common
Stock (based on 48,622,931 shares of Common Stock outstanding as of July 9,
2002; an additional 100,000 shares of Common Stock are issuable upon the
exercise of the warrant).
Each Reporting Person expressly declares that the filing of this Schedule
13D shall not be construed as an admission that each such Reporting Person
is, for the purposes of Section 13(d) or 13(g) of the Exchange Act, the
beneficial owner of any securities covered by this Schedule 13D other than
those securities in which such Reporting Person has a pecuniary interest as
set forth in this Item 5.
(b) Moneyline Networks, Moneyline, BOIC, BOCC, BOFC and Bank One may be
deemed to share the voting and dispositive power of the 33,302,863 shares
of Common Stock directly beneficially owned by Moneyline Networks by virtue
of, and this form is being filed by BOIC, BOCC, BOFC and Bank One solely
because of, Moneylines' 100% ownership interest in Moneyline Networks,
BOIC's majority ownership interest in Moneyline, BOCC's 100% ownership
interest in BOIC, BOFC's 100% ownership interest in BOCC and Bank One's
100% ownership interest in BOFC.
(c) Except as described elsewhere in this Schedule 13D, neither the
Reporting Persons nor, to the best knowledge of each Reporting Person, any
of the persons named in Exhibit B to the Statement, has effected a
transaction in shares of Common Stock during the past 60 days (excluding
transactions that may have been effected by certain subsidiaries of Bank
One for managed accounts with funds provided by third party customers).
(d) Except for third party customers of certain subsidiaries of Bank One
who may have the right to receive or the power to direct the receipt of
dividends from, or the proceeds of the sale of, any shares of Common Stock
held in managed accounts with funds provided by such customers, no other
person is known by any Reporting Person to have the right to receive or the
power to direct the receipt of dividends from, or the proceeds from the
dale of, any shares of Common Stock that will be beneficially owned by and
Reporting Person after the Closing Date.
(e) Not applicable.
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.
July 18, 2002
BANK ONE CORPORATION
By: /s/ Michael J. Cavanagh
--------------------------
Name: Michael J. Cavanagh
Title: Treasurer
BANC ONE FINANCIAL CORPORATION
By: /s/ Michael J. Cavanagh
--------------------------
Name: Michael J. Cavanagh
Title: Treasurer
BANC ONE CAPITAL CORPORATION
By: /s/ Richard M. Cashin, Jr.
-----------------------------
Name: Richard M. Cashin, Jr.
Title: President
BANK ONE INVESTMENT CORPORATION
By: /s/ Richard M. Cashin, Jr.
-----------------------------
Name: Richard M. Cashin, Jr.
Title: President
MONEYLINE TELERATE HOLDINGS
By: /s/ Alexander Russo
-------------------------------------
Name: Alexander Russo
Title: Executive Vice President,
Business Development & General
Counsel
MONEYLINE NETWORKS, LLC
By: /s/ Alexander Russo
--------------------------------------
Name: Alexander Russo
Title: Executive Vice President,
Business Development & General
Counsel