PURE CYCLE CORP — Major Shareholding Notification 2005

Feb 7, 2005

SC 13D/A 1 amend7topurecyclefinal.htm AMENDMENT NO. 7 TO SCHEDULE 13D SC 13D/A 1 [if !mso]> <![endif] SC 13D/A [if gte mso 9]> Preferred Customer Normal Preferred Customer 29 617 2004-05-25T19:18:00Z 2004-05-14T19:09:00Z 2004-06-16T15:58:00Z 12 2520 14113 MPC 288 93 17641 9.6926 228174/1/9320.000 <!--[if gte mso 9]> Printew Roman";} p.MsoHeader, li.MsoHeader, div.MsoHeader {margin:0in; margin-bottom:.0001pt; mso-pagination:widow-orphan; tab-stops:center 3.0in right 6.0in; font-size:12.0pt; font-family:"Times New Roman"; mso-fareast-font-family:"Times New Roman";} p.MsoFooter, li.MsoFooter, div.MsoFooter {margin:0in; margin-bottom:.0001pt; mso-pagination:widow-orphan; tab-stops:center 3.0in right 6.0in; font-size:12.0pt; font-family:"Times New Roman"; mso-fareast-font-family:"Times New Roman";} p {margin-right:0in; mso-margin-top-alt:auto; mso-margin-bottom-alt:auto; margin-left:0in; mso-pagination:widow-orphan; font-size:12.0pt; font-family:"Times New Roman"; mso-fareast-font-family:"Times New Roman";} pre {margin:0in; 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SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549

SCHEDULE 13D AMENDMENT NO. 7 (Rule 13d-101) Under the Securities Exchange Act of 1934

| PURE CYCLE
CORPORATION |
| --- |
| (Name
of Issuer) |
| Common
Stock |
| (Title of
Class of Securities) |
| 746228
10 5 |
| (CUSIP
Number) |
| George M.
Middlemas |
| 225 W.
Washington |
| Suite 1500 |
| Chicago,
IL 60606 |
| (312)
857-2800 |
| (Name,
Address and Telephone Number of Person Authorized to Receive Notices and Communications) |
| August 31,
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 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 for other parties to whom copies are to be sent.

CUSIP No. 746228105 — 1	NAME OF REPORTING PERSONS Apex Investment Fund II, L.P. 36-389-8753
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A
GROUP (a)
N/A
(b) X
3	SEC USE ONLY
4	SOURCE OF FUNDS WC
5	CHECK BOX IF DISCLOSURE OF LEGAL
PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) N/A
6	CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
NUMBER OF
SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH	7	SOLE VOTING POWER 971,073
	8	SHARED VOTING POWER 0
	9	SOLE DISPOSITIVE POWER 971,073
	10	SHARED DISPOSITIVE POWER 0
11	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 971,073
12	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW
(11) EXCLUDES CERTAIN SHARES N/A
13	PERCENT OF CLASS REPRESENTED BY AMOUNT IN
ROW (11) 7.26%
14	TYPE OF REPORTING PERSON PN

CUSIP No. 746228105 — 1	NAME OF REPORTING PERSONS Environmental Venture Fund Liquidating Trust 61-6284514
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A
GROUP (a)
N/A
(b) X
3	SEC USE ONLY
4	SOURCE OF FUNDS WC
5	CHECK BOX IF DISCLOSURE OF LEGAL
PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) N/A
6	CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
NUMBER OF
SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH	7	SOLE VOTING POWER 373,193
	8	SHARED VOTING POWER 0
	9	SOLE DISPOSITIVE POWER 373,193
	10	SHARED DISPOSITIVE POWER 0
11	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 373,193
12	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW
(11) EXCLUDES CERTAIN SHARES N/A
13	PERCENT OF CLASS REPRESENTED BY AMOUNT IN
ROW (11) 2.79%
14	TYPE OF REPORTING PERSON OO

CUSIP No. 746228105 — 1	NAME OF REPORTING PERSONS The Productivity Fund II Liquidating Trust 20-6247443
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A
GROUP (a)
N/A
(b) X
3	SEC USE ONLY
4	SOURCE OF FUNDS WC
5	CHECK BOX IF DISCLOSURE OF LEGAL
PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) N/A
6	CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
NUMBER OF
SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH	7	SOLE VOTING POWER 288,383
	8	SHARED VOTING POWER 0
	9	SOLE DISPOSITIVE POWER 288,383
	10	SHARED DISPOSITIVE POWER 0
11	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 288,383
12	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW
(11) EXCLUDES CERTAIN SHARES N/A
13	PERCENT OF CLASS REPRESENTED BY AMOUNT IN
ROW (11) 2.16%
14	TYPE OF REPORTING PERSON PN

CUSIP No. 746228105 — 1	NAME OF REPORTING PERSONS Environmental Private Equity Fund II, L.P. 36-383-0765
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A
GROUP (a)
N/A
(b) X
3	SEC USE ONLY
4	SOURCE OF FUNDS WC
5	CHECK BOX IF DISCLOSURE OF LEGAL
PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) N/A
6	CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
NUMBER OF
SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH	7	SOLE VOTING POWER 478,351
	8	SHARED VOTING POWER 0
	9	SOLE DISPOSITIVE POWER 478,351
	10	SHARED DISPOSITIVE POWER 0
11	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON 478,351
12	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW
(11) EXCLUDES CERTAIN SHARES N/A
13	PERCENT OF CLASS REPRESENTED BY AMOUNT IN
ROW (11) 3.58%
14	TYPE OF REPORTING PERSON PN

THIS SCHEDULE AMENDS A SCHEDULE 13D DATED AUGUST 12, 1992, AS AMENDED BY AMENDMENT NO. 1 DATED MAY 25, 1994, AMENDMENT NO. 2 DATED JULY 29, 1997, AMENDMENT NO. 3 DATED AUGUST 3, 1998, AMENDMENT NO. 4 DATED AUGUST 29, 2000, AMENDMENT NO. 5 DATED AUGUST 29, 2000, AND AMENDMENT NO. 6 DATED JUNE 24, 2004 (AS AMENDED, THE “ORIGINAL 13D”). ALL ITEMS NOT MENTIONED SPECIFICALLY IN THIS AMENDMENT REMAIN AS PROVIDED IN THE ORIGINAL 13D.

Item 2. Identity and Background is hereby amended by the addition of the following paragraph:

In connection with the liquidation of the assets of The Productivity Fund II, L.P., certain of its assets, including all of its shares of Common Stock, were transferred to The Productivity Fund II Liquidating Trust, effective July 15, 2004. For purposes of this Schedule, all references to The Productivity Fund II, L.P. or PF II shall refer to The Productivity Fund II Liquidating Trust.

Item 4. Purpose of Transaction

The securities of the Company held by the Filing Parties were purchased as an investment. Depending on market conditions and such other considerations as it may deem relevant, one or more of the Filing Parties may determine from time to time to dispose of certain of the Common Stock of the Company reported hereunder, in either open market or private transactions.

Except as indicated in this Item 4, none of the Filing Parties has any present plans or proposals that relate to or would result in transactions of the kind described in paragraph (a) through (j) of Item 4 of Rule 13D-101 promulgated under the Securities Exchange Act of 1934, as amended. In the future, however, each of the Filing Parties reserves the right to adopt such plans or proposals, subject to applicable regulatory requirements, if any.

Item 5. Interest in Securities of the Issuer

| FILING
PARTY | COMMON
STOCK | WARRANTS | SERIES A-1
PREFERRED | PERCENTAGE
OF CLASS |
| --- | --- | --- | --- | --- |
| Apex | 971,073 | 0 | 0 | 7.26% |
| EVF | 373,193 | 0 | 0 | 2.79% |
| PF
II | 288,383 | 0 | 0 | 2.16% |
| EPEF | 478,351 | 0 | 0 | 3.58% |
| | In addition, Middlemas holds 33,333 shares
of Common Stock. | | | |
| (a)(ii) | By reason of its status as ultimate general partner or liquidating trustee of the Filing Parties, FAC
may be deemed to be the indirect beneficial owner of 2,111,000 shares of
Common Stock, or 15.79% of such shares. By reason of his status as
stockholder of FAC, F. Oliver Nicklin, Jr. may also be deemed to be
the indirect beneficial owner of such shares. | | | |
| | By reason of their status as ultimate
general partners of Apex, Stellar (and through Stellar, Johnson), Middlemas
and Chartwell (and through Chartwell, Renze) may be deemed to be the indirect
beneficial owners of 971,073 shares of Common Stock, or 7.26% of such
shares. When these shares are combined with the 33,333 shares of Common
Stock he owns individually, Middlemas may be deemed to be the beneficial
owner of 1,004,406 shares of Common Stock, or 7.51% of such shares. | | | |
| | By reason of his status as ultimate general
partner of EPEF and liquidating trustee of PF II, Maxwell may be deemed to be the indirect
beneficial owner of 766,734 shares of Common Stock, or 5.74% of such
shares. | | | |
| (a)(iii) | Each of the Filing Parties disclaims
beneficial ownership of all shares of Common Stock described herein except
those shares that are owned by the Filing Party directly. The Filing
Parties understand that each of the other persons named as officer, director,
partner or other affiliate of any Filing Party herein disclaims beneficial
ownership of all of the shares of Common Stock described herein, except for
Middlemas with respect to 33,333 shares he owns individually. | | | |
| | Each of the Filing Parties disclaims the
existence of a “group” among any or all of them and further disclaims the
existence of a “group” among any or among all of them and any or all of the
other persons named as an officer, director, partner or other affiliate of
any Filing Party, in each case within the meaning of Section 13(d)(3) of the
1934 Act. | | | |
| (b)(i) | Apex has the sole power to dispose of and to vote 971,073 shares of Common Stock. FAC, Stellar, Johnson, Middlemas, Chartwell and Renze may be
deemed to share the power to direct the disposition or vote of the 971,073
shares of Common Stock owned directly by Apex. | | | |
| (b)(ii) | EVF has the sole power to dispose of and to
vote 373,193 shares of Common Stock. FAC may be deemed to share the power to direct the
disposition or vote of the 373,193 shares of Common Stock owned directly by EVF. | | | |
| (b)(iii) | PF II has the sole power to dispose of and
to vote 288,383 shares of Common Stock. FAC and Maxwell may be deemed to share the power to direct
the disposition or vote of the 288,383 shares of Common Stock owned directly by PF II. | | | |
| (b)(iv) | EPEF has the sole power to dispose of and
to vote 478,351 shares of Common Stock. FAC and Maxwell may be deemed to share the power to direct the disposition or
vote of the 478,351 shares of Common Stock owned directly by EPEF. | | | |
| (b)(v) | Middlemas has the sole power to dispose of
and to vote 33,333 shares of Common Stock. | | | |
| (c) | Apex converted 40,800 shares of Series A-1 Preferred into 226,666 shares of the
Common Stock, and EPEF converted 60,000 shares of Series A-1 Preferred into
333,333 shares of the Common Stock, on August 31, 2004. Apex exercised warrants to purchase 850,620 shares of Common Stock and received
661,825 shares of Common Stock from the Company after the Company withheld
188,795 shares in payment of the exercise price. EVF exercised warrants to
purchase 260,981 shares of Common Stock and received 203,057 shares of Common
Stock from the Company after the Company withheld 57,925 shares in payment of
the exercise price. PF II exercised warrants to purchase 178,380 shares of
Common Stock and received 138,789 shares of Common Stock from the Company after
the Company withheld 39,592 shares in payment of the exercise price. EPEF
exercised warrants to purchase 30,143 shares of Common Stock and received 23,453
shares of Common Stock from the Company after the Company withheld 6,690 shares
in payment of the exercise price. Apex sold 50,000 shares of Common Stock at $7.55 per share in the public market
on February 2, 2005, and sold 14,700 shares of Common Stock at $7.36 per share in
the public market on February 3, 2005. EVF sold 19,741 shares of Common Stock at
$7.18 per share in the public market on February 3, 2005. PF II sold 15,255
shares of Common Stock at $7.18 per share in the public market on February 3, 2005.
EPEF sold 25,304 shares of Common Stock at $7.18 per share in the public market on
February 3, 2005. | | | |
| (d) | None | | | |

Item 7. Material to be Filed as Exhibits

Exhibit I— Joint Filing Agreement, dated February 7, 2005.

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 as of the 7th day of February, 2005.

| APEX INVESTMENT FUND II, L.P. — By: | Apex Management Partnership, General
Partner | | |
| --- | --- | --- | --- |
| | By: | | Stellar
Investment Co., General Partner of |
| | | | Apex Management Partnership |
| | | | By:
_____ |
| | | | James A. Johnson, President |
| | By: | | First
Analysis Corporation, General Partner of |
| | | | Apex Management Partnership |
| | | | By:
_____ |
| | | | F. Oliver Nicklin, Jr., President |
| ENVIRONMENTAL PRIVATE EQUITY FUND II, L.P. | | | |
| By: | Environmental Private
Equity Management II, L.P., | | |
| | General Partner | | |
| | By: | First Analysis EPEF
Management Company II, General Partner of Environmental Private | |
| | | Equity Management II, L. P. | |
| | | By: | First Analysis
Corporation, General Partner of |
| | | | First Analysis EPEF
Management Company II |
| | | | By:
_____ |
| | | | F. Oliver Nicklin, Jr., President |
| | | By: | _______ |
| | | | Bret R. Maxwell, General Partner of First
Analysis |
| | | | EPEF Management Company II |
| THE PRODUCTIVITY FUND II LIQUIDATING TRUST | | | |
| By: | First Analysis Management Company II,
General Partner | | |
| | By: | | First Analysis Corporation, Liquidating Trustee |
| | | | By:
_____ |
| | | | F. Oliver Nicklin, Jr., President |
| | | | _________ |
| | | | Bret R. Maxwell, Liquidating Trustee |

SIGNATURE (CONTINUED)

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 as of the 7th day of February, 2005.

| THE ENVIRONMENTAL VENTURE FUND LIQUIDATING
TRUST | |
| --- | --- |
| By: | First Analysis Corporation, Liquidating
Trustee |
| | By:
_____ |
| | F. Oliver Nicklin,
Jr., President |

JOINT FILING AGREEMENT Exhibit I

Each of the undersigned hereby acknowledges and agrees, in compliance with the provisions of Rule 13d-1(k)(1) promulgated under the Securities Exchange Act of 1934, as amended, that the Schedule 13D to which this Agreement is attached as an Exhibit, and any amendments thereto, will be filed with the Securities and Exchange Commission jointly on behalf of each of the undersigned.

| Dated: February 7, 2005 — By: | Apex Management Partnership, General
Partner | | |
| --- | --- | --- | --- |
| | By: | | Stellar
Investment Co., General Partner of |
| | | | Apex Management Partnership |
| | | | By:
_____ |
| | | | James A. Johnson,
President |
| | By: | | First
Analysis Corporation, General Partner of |
| | | | Apex Management Partnership |
| | | | By:
_____ |
| | | | F. Oliver Nicklin,
Jr., President |
| ENVIRONMENTAL PRIVATE EQUITY FUND II,
L.P. | | | |
| By: | Environmental Private
Equity Management II, L.P., | | |
| | General Partner | | |
| | By: | First Analysis EPEF
Management Company II, General | |
| | | Partner of
Environmental Private Equity Management II, L. P. | |
| | | By: | First Analysis
Corporation, General Partner of |
| | | | First Analysis EPEF
Management Company II |
| | | | By:
_____ |
| | | | F. Oliver Nicklin,
Jr., President |
| | | By: | _______ |
| | | | Bret R. Maxwell, General Partner of
First Analysis |
| | | | EPEF Management Company II |
| THE PRODUCTIVITY FUND II LIQUIDATING TRUST | | | |
| By: | First Analysis Management Company II,
General Partner | | |
| | By: | | First Analysis Corporation, Liquidating Trustee |
| | | | By:
_____ |
| | | | F. Oliver Nicklin, Jr., President |
| | | | _________ |
| | | | Bret R. Maxwell, Liquidating Trustee |

JOINT FILING AGREEMENT (CONTINUED) Exhibit I

Each of the undersigned hereby acknowledges and agrees, in compliance with the provisions of Rule 13d-1(k)(1) promulgated under the Securities Exchange Act of 1934, as amended, that the Schedule 13D to which this Agreement is attached as an Exhibit, and any amendments thereto, will be filed with the Securities and Exchange Commission jointly on behalf of each of the undersigned.

| THE ENVIRONMENTAL VENTURE FUND LIQUIDATING
TRUST | |
| --- | --- |
| By: | First Analysis Corporation, Liquidating
Trustee |
| | By:
_____ |
| | F. Oliver Nicklin,
Jr., President |