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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. 3)
Z-TEL TECHNOLOGIES, INC.
(Name of Issuer)
Common Stock
------------
(Title of Class of Securities)
988792107
(CUSIP Number)
LAWRENCE C. TUCKER
Brown Brothers Harriman & Co.
140 Broadway
New York, New York
(212) 483-1818
(Name, Address and Telephone Number of
Person Authorized to Receive Notices
and Communications)
November 29, 2004
(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(b)(3) or (4), check the following box [_].
*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 ("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).
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2
CUSIP No. 988792107
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1 NAME OF REPORTING PERSON
THE 1818 FUND III, L.P.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X]
(b) [_]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
OO
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(D) OR 2(E) [_]
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6 CITIZENSHIP OR PLACE OR ORGANIZATION
DELAWARE
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7 SOLE VOTING POWER
NUMBER OF
SHARES -0-
BENEFICIALLY ---------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING 26,993,948
PERSON ---------------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
-0-
---------------------------------------------
10 SHARED DISPOSITIVE POWER
26,993,948
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
See Item 5.
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[_]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
48.9%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
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3
CUSIP No. 988792107
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1 NAME OF REPORTING PERSON
BROWN BROTHERS HARRIMAN & CO.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X]
(b) [_]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS
OO
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(D) OR 2(E) [_]
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6 CITIZENSHIP OR PLACE OR ORGANIZATION
NEW YORK
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7 SOLE VOTING POWER
NUMBER OF
SHARES -0-
BENEFICIALLY ---------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING 26,993,948
PERSON ---------------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
-0-
---------------------------------------------
10 SHARED DISPOSITIVE POWER
26,993,948
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
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)
48.9%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
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4
CUSIP No. 988792107
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
T. MICHAEL LONG
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X]
(b) [_]
--------------------------------------------------------------------------------
3 SEC USE ONLY
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4 SOURCE OF FUNDS
OO
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(D) OR 2(E) [_]
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6 CITIZENSHIP OR PLACE OR ORGANIZATION
UNITED STATES
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF
SHARES -0-
BENEFICIALLY ---------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING 26,993,948
PERSON ---------------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
-0-
---------------------------------------------
10 SHARED DISPOSITIVE POWER
26,993,948
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
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)
48.9%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
--------------------------------------------------------------------------------
5
CUSIP No. 988792107
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
LAWRENCE C. TUCKER
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [X]
(b) [_]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
OO
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(D) OR 2(E) [_]
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6 CITIZENSHIP OR PLACE OR ORGANIZATION
UNITED STATES
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7 SOLE VOTING POWER
NUMBER OF
SHARES 16,772
BENEFICIALLY ---------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH
REPORTING 26,993,948
PERSON ---------------------------------------------
WITH 9 SOLE DISPOSITIVE POWER
16,772
---------------------------------------------
10 SHARED DISPOSITIVE POWER
26,993,948
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
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)
48.9%
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
--------------------------------------------------------------------------------
6
EXPLANATORY NOTE
----------------
This Amendment No. 4 ("Amendment No. 4") to Schedule 13D is filed by
the undersigned to amend and supplement the Schedule 13D filed on November 20,
2000 (the "Original 13D"), as amended by Amendment No. 1 to Schedule 13D filed
on July 12, 2001 ("Amendment No. 1"), Amendment No. 2 to Schedule 13D filed on
August 9, 2001 ("Amendment No. 2") and Amendment No. 2 to Schedule 13D filed on
August 26, 2004 ("Amendment No. 3"), relating to the common stock (the "Common
Stock"), par value $.01 per share, issued by Z-Tel Technologies, Inc., a
Delaware corporation (the "Company"). Unless otherwise indicated, all of the
common stock covered by Amendment No. 4 reflect a 1-for-5 reverse stock split
of the Company's Common Stock (the "Stock Split") following the Exchange Offer,
as if such split occurred prior to the dates of the events reported herein.
Unless otherwise indicated, all capitalized terms shall have the same meaning as
provided in the Original 13D.
Item 1. SECURITY AND ISSUER.
No Change.
Item 2. IDENTITY AND BACKGROUND.
No Change.
Item 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
Item 3 is hereby amended and supplemented by the addition of the
following:
On November 29, 2004, the Company consummated the exchange offer
commenced on September 30, 2004, as amended (the "Exchange Offer"), to holders
of its Series D Convertible Preferred Stock, 8% Convertible Preferred Stock,
Series E (the
7
"Series E Preferred") and 12% Junior Redeemable Stock, Series G (the "Series G
Preferred" and together with the Series E Preferred, the "Preferred Stock").
Prior to the Stock Split and pursuant to the Exchange Offer, the
Fund tendered 4,166,667 shares of the Series E Preferred at the exchange ratio
of one share of Series E Preferred for 25.24216 shares of Common Stock and 125
shares of the Series G Preferred at the exchange ratio of one share of Series G
Preferred for 161,469.40 shares of Common Stock. Under the Exchange Offer the
Fund received, in exchange for the Preferred Stock tendered, 25,071,870 shares
of Common Stock.
No funds were used by the Fund to effect the tender of the Preferred
Stock.
Item 4. PURPOSE OF TRANSACTION.
Item 4 is hereby amended and supplemented by the addition of the
following: Pursuant to the Exchange Offer, the Fund tendered all of the
Preferred Stock it holds in the Company in exchange for Common Stock.
Item 5. INTEREST IN SECURITIES OF THE ISSUER.
Item 5 is hereby amended and supplemented by the addition of the
following: On October 28, 2004, the Fund exercised the Series G Warrant
according to its terms into 428,572 shares of Common Stock at a price of $.01
per share.
Prior to the Stock Split and pursuant to the Exchange Offer, the
Fund tendered 4,166,667 shares of the Series E Preferred and 125 shares of the
Series G Preferred. Under the Exchange Offer the Fund received, in exchange for
the Preferred Stock tendered, 21,035,135 shares of
8
Common Stock for the Series E Preferred and 4,036,735 shares of Common Stock for
the Series G Preferred for a total of 25,071,870 shares of Common Stock.
As of the date hereof, based on calculations made in accordance with
Rule 13d-3 promulgated under the Exchange Act and there being 55,251,640 shares
of Common Stock outstanding (as disclosed to the Fund by the Company on
December 1, 2004), the number of shares of Common Stock the Fund, BBH, Long and
Tucker are deemed to own and the percent of the outstanding shares of Common
Stock are as follows:
SHARES PERCENTAGE
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Fund 26,993,948 48.9%
BBH 26,993,948 48.9%
Long 26,993,948 48.9%
Tucker 27,010,720 48.9%
Item 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH
RESPECT TO THE COMMON STOCK OF THE ISSUER.
No Change.
Item 7. MATERIAL TO BE FILED AS EXHIBITS.
None.
SIGNATURE
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After reasonable inquiry and to the best of its knowledge and
belief, each of the undersigned certifies that the information set forth in this
statement is true, complete and correct.
Dated: December 2, 2004
THE 1818 FUND III, L.P.
By: Brown Brothers Harriman & Co.,
General Partner
By: /s/ Lawrence C. Tucker
---------------------------------------
Name: Lawrence C. Tucker
Title: Partner
BROWN BROTHERS HARRIMAN & CO.
By: /s/ Lawrence C. Tucker
---------------------------------------
Name: Lawrence C. Tucker
Title: Partner
/s/ T. Michael Long
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T. Michael Long
/s/ Lawrence C. Tucker
--------------------------------------------
Lawrence C. Tucker