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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 1)
RADCOM LTD.
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(Name of Issuer)
ORDINARY SHARES, PAR VALUE NIS 0.05 PER SHARE
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(Title of Class of Securities)
M 81865103
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(CUSIP Number)
DAVID ZIGDON DAVID P. STONE, ESQ.
C/O RADCOM LTD. C/O WEIL, GOTSHAL & MANGES LLP
24 RAOUL WALLENBERG STREET 767 FIFTH AVENUE
TEL AVIV 6719, ISRAEL NEW YORK, NY 10153
972-3-645-5004 (212) 310-8000
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(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
SEPTEMBER 24, 2002
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(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 ss.ss. 240.13d-1(e), 240.13d-1(f) or 240.13d-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 ss. 240.13d-7(b) for other
parties to whom copies are to be sent.
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 "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).
(Continued on following pages)
(Page 1 of 7 Pages)
NY2:\1197220\02\PNS402!.DOC\68918.0003
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CUSIP No. M 81865103 13D Page 2 of 7
----------------------------------- ---------------------------------------------- ---------------------------------
---------------------- ----------------------------------------------------------- ------------------------------------------------
1 NAME OF REPORTING PERSON: ZOHAR ZISAPEL
I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON (ENTITIES ONLY):
---------------------- ------------------------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP: (A) [ ]
(B) [X]
---------------------- ------------------------------------------------------------------------------------------------------------
3 SEC USE ONLY
---------------------- ------------------------------------- ----------------------------------------------------------------------
4 SOURCE OF FUNDS: PF
---------------------- ------------------------------------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e): [ ]
---------------------- ----------------------------------------------------------- ------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION: ISRAEL
----------------------------------- -------- ---------------------------------------------------- ---------------------------------
NUMBER OF 7 SOLE VOTING POWER: 2,433,975 (SEE ITEM 5)
SHARES
-------- ---------------------------------------------------- ---------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 0
OWNED BY
-------- ---------------------------------------------------- ---------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 2,433,975 (SEE ITEM 5)
REPORTING
-------- ---------------------------------------------------- ---------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 0
---------------------- -------------------------------------------------------------------------- ---------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 2,433,975 (SEE ITEM 5)
---------------------- ------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [ ]
---------------------- ------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 23.2%
---------------------- ----------------------------------------------------------- ------------------------------------------------
14 TYPE OF REPORTING PERSON: IN
---------------------- ----------------------------------------------------------- ------------------------------------------------
2
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CUSIP No. M 81865103 13D Page 3 of 7
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---------------------- ----------------------------------------------------------- ------------------------------------------------
1 NAME OF REPORTING PERSON: KLIL & MICHAEL LTD.
I.R.S. IDENTIFICATION NO. NOT APPLICABLE.
OF ABOVE PERSON (ENTITIES ONLY):
---------------------- ------------------------------------------------------------------------------------------------------------
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: ISRAEL
----------------------------------- -------- ---------------------------------------------------- ---------------------------------
NUMBER OF 7 SOLE VOTING POWER: 0
SHARES
-------- ---------------------------------------------------- ---------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 2,433,975 (SEE ITEM 5)
OWNED BY
-------- ---------------------------------------------------- ---------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING
-------- ---------------------------------------------------- ---------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 2,433,975 (SEE ITEM 5)
---------------------- -------------------------------------------------------------------------- ---------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 2,433,975 (SEE ITEM 5)
---------------------- ------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [ ]
---------------------- ------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 23.2%
---------------------- ----------------------------------------------------------- ------------------------------------------------
14 TYPE OF REPORTING PERSON: CO
---------------------- ----------------------------------------------------------- ------------------------------------------------
3
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CUSIP No. M 81865103 13D Page 4 of 7
----------------------------------- ---------------------------------------------- ---------------------------------
---------------------- ----------------------------------------------------------- ------------------------------------------------
1 NAME OF REPORTING PERSON: RAD DATA COMMUNICATIONS LTD.
I.R.S. IDENTIFICATION NO. NOT APPLICABLE.
OF ABOVE PERSON (ENTITIES ONLY):
---------------------- ------------------------------------------------------------------------------------------------------------
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: ISRAEL
----------------------------------- -------- ---------------------------------------------------- ---------------------------------
NUMBER OF 7 SOLE VOTING POWER: 0
SHARES
-------- ---------------------------------------------------- ---------------------------------
BENEFICIALLY 8 SHARED VOTING POWER: 2,433,975 (SEE ITEM 5)
OWNED BY
-------- ---------------------------------------------------- ---------------------------------
EACH 9 SOLE DISPOSITIVE POWER: 0
REPORTING
-------- ---------------------------------------------------- ---------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER: 2,433,975 (SEE ITEM 5)
---------------------- -------------------------------------------------------------------------- ---------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY REPORTING PERSON: 2,433,975 (SEE ITEM 5)
---------------------- ------------------------------------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES: [ ]
---------------------- ------------------------------------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11): 23.2%
---------------------- ----------------------------------------------------------- ------------------------------------------------
14 TYPE OF REPORTING PERSON: CO
---------------------- ----------------------------------------------------------- ------------------------------------------------
4
This amendment No. 1 amends the Schedule 13D dated March 19, 2002,
and is filed by Zohar Zisapel, for and on behalf of himself, Klil & Michael Ltd.
and RAD Data Communications Ltd. (each a "Reporting Person", and together the
Reporting Persons"), with respect to the ordinary shares, par value NIS 0.05 per
share (the "Ordinary Shares"), of RADCOM Ltd. (the "Company").
ITEM 3 SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
The aggregate amount of funds used by Zohar Zisapel in making the
purchase of 195,858 Ordinary Shares referred to in Item 5(c) hereof was
approximately $184,228. The source of such funds was the personal funds of Zohar
Zisapel.
ITEM 5 INTEREST IN SECURITIES OF THE ISSUER.
(a) The responses of the Reporting Persons to Rows (11) through (13)
of pages 2, 3 and 4 of this Amendment No. 1 are incorporated herein by
reference. As of September 24, 2002, the Reporting Persons beneficially owned
2,433,975 Ordinary Shares, or 23.2% of the total number of Ordinary Shares
issued and outstanding. Of the 2,433,975 Ordinary Shares, 2,203,196 Ordinary
Shares, or 21.0% of the total number of Ordinary Shares issued and outstanding,
were owned of record by Zohar Zisapel; 48,333, or 0.5% of the total number of
Ordinary Shares issued and outstanding, were options granted to Zohar Zisapel to
acquire Ordinary Shares that vest within 60 days of September 24, 2002; 54,500
of the Ordinary Shares, or 0.5% of the total number of Ordinary Shares issued
and outstanding, were owned of record by Klil & Michael Ltd.; and 127,946
Ordinary Shares, or 1.2% of the total number of Ordinary Shares issued and
outstanding, were owned of record by RAD Data Communications Ltd.
Except as set forth in this Item 5(a), none of the Reporting Persons
or, to their knowledge, any of the persons listed on Schedule A or Schedule B
attached hereto, except for Yehuda Zisapel, beneficially owns any Ordinary
Shares.
(b) The responses of the Reporting Persons to (i) Rows (7) through
(10) of pages 2, 3 and 4 of this Amendment No. 1 and (ii) Item 5(a) hereof are
incorporated herein by reference.
(c) From March 12, 2002, through September 14, 2002, Zohar Zisapel
purchased, through open-market transactions executed on the Nasdaq National
Market, 54,500 Ordinary Shares at an average price per share of $0.94. The
Ordinary Shares were purchased on the following dates, in the amounts and for
the prices as shown in the table below.
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PRICE PER ORDINARY SHARE
DATE OF PURCHASE NUMBER OF ORDINARY SHARES IN U.S. DOLLARS TOTAL COST IN U.S. DOLLARS
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July 30, 2002 12,614 $0.495 $6,244
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August 1, 2002 9,600 $0.767 $7,326
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August 2, 2002 1,700 $0.840 $1,428
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August 5, 2002 28,000 $0.907 $25,400
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August 6, 2002 14,800 $1.004 $14,865
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August 7, 2002 25,000 $1.020 $25,492
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August 8, 2002 1,800 $1.012 $1,822
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5
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PRICE PER ORDINARY SHARE
DATE OF PURCHASE NUMBER OF ORDINARY SHARES IN U.S. DOLLARS TOTAL COST IN U.S. DOLLARS
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August 9, 2002 1,000 $1.045 $1,045
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August 12, 2002 3,600 $1.050 $3,780
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August 15, 2002 4,000 $1.030 $4,120
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August 16, 2002 100 $1.040 $104
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August 20, 2002 2,000 $1.030 $2,060
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August 21, 2002 1,144 $1.030 $1,178
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August 22, 2002 3,000 $0.995 $2,985
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August 26, 2002 20,000 $1.020 $20,400
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August 27, 2002 3,200 $1.025 $3,280
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September 3, 2002 12,500 $0.920 $11,500
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September 4, 2002 10,200 $0.967 $9,865
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September 5, 2002 26,900 $1.000 $26,900
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September 6, 2002 5,000 $1.030 $5,150
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September 9, 2002 3,800 $1.005 $3,819
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September 14, 2002 5,900 $0.920 $5,428
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Except as set forth above, none of the Reporting Persons or, to their
knowledge, any of the persons listed on Schedule A or Schedule B attached
hereto, has effected any transaction in the Ordinary Shares since March 12,
2002.
(d) Not applicable.
(e) Not applicable.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
EXHIBIT NO. DESCRIPTION
----------- -----------
1. Joint Filing Agreement by and among Zohar Zisapel,
Klil & Michael Ltd. and RAD Data Communications Ltd.,
dated as of September 29, 2002.
6
SIGNATURES
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.
/s/ Zohar Zisapel
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Zohar Zisapel
KLIL & MICHAEL LTD.
By: /s/ Zohar Zisapel
---------------------------------------
Name: Zohar Zisapel
Title: Sole Director and Manager
RAD DATA COMMUNICATIONS LTD.
By: /s/ Zohar Zisapel
---------------------------------------
Name: Zohar Zisapel
Title: Director and Controlling Person
Dated: September 29, 2002
7
SCHEDULE A
DIRECTORS AND EXECUTIVE OFFICERS OF KLIL & MICHAEL LTD.
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Zohar Zisapel is a citizen of the State of Israel.
Name Present Business Address Present Principal Occupation
---- ------------------------ ----------------------------
Executive Officer,
Director and
Controlling Person:
Zohar Zisapel 24 Raoul Wallenberg St., Chairman of the Board of
Tel Aviv 69719, Israel RADCOM Ltd.
SCHEDULE B
DIRECTORS AND EXECUTIVE OFFICERS OF RAD DATA COMMUNICATIONS LTD.
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Unless otherwise specified, each person listed below is a citizen of
the State of Israel.
Name Present Business Address Present Principal Occupation
---- ------------------------ ----------------------------
Executive Officers:
Efraim Wachtel 24 Raoul Wallenberg St., Tel Aviv 69719, Israel President and Chief Executive Officer of RAD
Data Communications Ltd.
Directors and Controlling
Persons:
Zohar Zisapel 24 Raoul Wallenberg St., Tel Aviv 69719, Israel Director of RADCOM Ltd.
Yehuda Zisapel 24 Raoul Wallenberg St., Tel Aviv 69719, Israel Director of various corporations
Nava Zisapel 12 Hanechoshet St., Tel Aviv 69710, Israel President and Chief Executive Officer of
Neurim Pharmaceuticals (1991) Ltd.; Professor
at Tel Aviv University