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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 3)
ePlus, Inc.
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(Name of Issuer)
Common Stock, Par Value $.01
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(Title of Class of Securities)
55305V107
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(CUSIP NUMBER)
Barry E. Johnson, Thayer Capital Partners, 1455 Pennsylvania Ave., N.W.,
Suite 350 Washington, D.C. 20004
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(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
July 2, 2001
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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 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 [ ].
CHECK THE FOLLOWING BOX IF A FEE IS BEING PAID WITH THIS STATEMENT [ ].
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SCHEDULE 13D
(COVER PAGE -- PART II)
CUSIP NO.55305V107
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1) Name of Reporting Person/S.S. or I.R.S. Identification No. of Above Person
TC Plus, LLC (formerly known as TC Leasing, LLC)
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2) Check the Appropriate Box if a Member of a Group
(a) [ ]
(b) [X]
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3) SEC Use Only
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4) Source of Funds:
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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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Number of Shares 7) Sole Voting Power: 1,015,552
Beneficially Owned
By Each Reporting -------------------------------------------
Person With 8) Shared Voting Power: 0
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9) Sole Dispositive Power: 1,015,552
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10) Shared Dispositive Power: 0
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11) Aggregate Amount Beneficially Owned by Each Reporting Person: 1,015,552
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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): 9.98%
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14) Type of Reporting Person: OO
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SCHEDULE 13D
(COVER PAGE -- PART II)
CUSIP NO.55305V107
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1) Name of Reporting Person/S.S. or I.R.S. Identification No. of Above Person
Thayer Equity Investors III, L.P.
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2) Check the Appropriate Box if a Member of a Group
(a)
(b)
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3) SEC Use Only
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4) Source of Funds:
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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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Number of Shares 7) Sole Voting Power: 1,015,552
Beneficially Owned By
Each Reporting -------------------------------------------
Person With 8) Shared Voting Power: 0
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9) Sole Dispositive Power: 1,015,552
-------------------------------------------
10) Shared Dispositive Power: 0
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11) Aggregate Amount Beneficially Owned by Each Reporting Person: 1,015,552
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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): 9.98%
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14) Type of Reporting Person: PN
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SCHEDULE 13D
(COVER PAGE -- PART II)
CUSIP NO.55305V107
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1) Name of Reporting Person/S.S. or I.R.S. Identification No. of Above Person
TC Equity Partners, L.L.C.
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2) Check the Appropriate Box if a Member of a Group
(a)
(b)
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3) SEC Use Only
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4) Source of Funds:
--------------------------------------------------------------------------------
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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Number of Shares 7) Sole Voting Power: 1,015,552
Beneficially Owned By
Each Reporting -------------------------------------------
Person With 8) Shared Voting Power: 0
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9) Sole Dispositive Power: 1,015,552
-------------------------------------------
10) Shared Dispositive Power: 0
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11) Aggregate Amount Beneficially Owned by Each Reporting Person: 1,015,552
--------------------------------------------------------------------------------
12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares
--------------------------------------------------------------------------------
13) Percent of Class Represented by Amount in Row (11): 9.98%
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14) Type of Reporting Person: OO
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SCHEDULE 13D
(COVER PAGE -- PART II)
CUSIP NO.55305V107
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1) Name of Reporting Person/S.S. or I.R.S. Identification No. of Above Person
Frederic V. Malek
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2) Check the Appropriate Box if a Member of a Group
(a)
(b)
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3) SEC Use Only
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4) Source of Funds:
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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: United States of America
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Number of Shares 7) Sole Voting Power: 0
Beneficially Owned
By Each Reporting -------------------------------------------
Person With 8) Shared Voting Power: 1,015,552
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9) Sole Dispositive Power: 0
-------------------------------------------
10) Shared Dispositive Power: 1,015,552
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11) Aggregate Amount Beneficially Owned by Each Reporting Person: 1,015,552
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12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares [X]
Mr. Malek disclaims beneficial ownership of the shares disclosed in
this Schedule 13D.
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13) Percent of Class Represented by Amount in Row (11): 9.98%
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14) Type of Reporting Person: IN
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SCHEDULE 13D
(COVER PAGE -- PART II)
CUSIP NO.55305V107
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1) Name of Reporting Person/S.S. or I.R.S. Identification No. of Above Person
Carl J. Rickertsen
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2) Check the Appropriate Box if a Member of a Group
(a)
(b)
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3) SEC Use Only
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4) Source of Funds:
--------------------------------------------------------------------------------
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: United States of America
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Number of Shares 7) Sole Voting Power: 0
Beneficially Owned
By Each Reporting -------------------------------------------
Person With 8) Shared Voting Power: 1,015,552
-------------------------------------------
9) Sole Dispositive Power: 0
-------------------------------------------
10) Shared Dispositive Power: 1,015,552
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11) Aggregate Amount Beneficially Owned by Each Reporting Person: 1,015,552
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12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares [X]
Mr. Rickertsen disclaims beneficial ownership of the shares disclosed
in this Schedule 13D.
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13) Percent of Class Represented by Amount in Row (11): 9.98%
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14) Type of Reporting Person: IN
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SCHEDULE 13D
(COVER PAGE -- PART II)
CUSIP NO.55305V107
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1) Name of Reporting Person/S.S. or I.R.S. Identification No. of Above Person
Paul G. Stern
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2) Check the Appropriate Box if a Member of a Group
(a)
(b)
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3) SEC Use Only
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4) Source of Funds:
--------------------------------------------------------------------------------
5) Check if Disclosure of Legal Proceedings is Required Pursuant to Item 2(d)
or 2(e)
--------------------------------------------------------------------------------
6) Citizenship or Place of Organization: United States of America
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Number of Shares 7) Sole Voting Power: 0
Beneficially Owned
By Each Reporting
Person With -------------------------------------------
8) Shared Voting Power: 1,015,552
-------------------------------------------
9) Sole Dispositive Power: 0
-------------------------------------------
10) Shared Dispositive Power: 1,015,552
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11) Aggregate Amount Beneficially Owned by Each Reporting Person: 1,015,552
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12) Check if the Aggregate Amount in Row (11) Excludes Certain Shares [X]
Dr. Stern disclaims beneficial ownership of the shares disclosed in
this Schedule 13D.
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13) Percent of Class Represented by Amount in Row (11): 9.98%
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14) Type of Reporting Person: IN
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SCHEDULE 13D
CUSIP NO. 55305V107
AMENDMENT NO. 3 TO SCHEDULE 13D
The Schedule 13D, filed November 2, 1998, of TC Plus, LLC, Thayer Equity
Investors III, L.P., TC Equity Partners, L.L.C., Frederic V. Malek, Carl J.
Rickertsen and Paul Stern, as amended by Amendment No. 1 thereto, filed December
15, 1998, as amended by that certain Amendment, filed December 23, 1999 (the
"Schedule 13D"), is hereby further amended as set forth below. Capitalized terms
used herein without definition have the meanings set forth in the Schedule 13D.
This Amendment No. 3 to Schedule 13D supplements and amends the Schedule 13D and
should be read in conjunction with, and is qualified in its entirety by
reference to, the Schedule 13D.
ITEM 2. IDENTITY AND BACKGROUND.
Paragraphs (i), (ii), (v) and (vi) of Item 2 are hereby amended in their
entirety as follows:
(i) TC PLUS, LLC (FORMERLY TC LEASING, LLC)
TC Plus, LLC ("Plus") is a Delaware limited liability company whose
principal office address is 1455 Pennsylvania Avenue, N.W., Suite 350,
Washington, D.C. 20004. Plus was formed to hold shares of Common Stock.
(ii) THAYER EQUITY INVESTORS III, L.P.
Thayer Equity Investors III, L.P. ("Thayer") is a Delaware limited
partnership whose principal office address is 1455 Pennsylvania Avenue,
N.W., Suite 350, Washington, D.C. 20004. Thayer is the managing member of
Plus. Thayer is a private equity fund, and its principal business is making
investments in the information technology and services, travel and leisure
services, telecommunications and consumer products industries. Paragraph
(iii) of this Item 2 contains information regarding the general partner of
Thayer and paragraphs (iv) through (vi) of this Item 2 contain information
regarding the persons controlling such general partner.
(v) CARL J. RICKERTSEN
Mr. Rickertsen, a United States citizen, is one of the members of TC Equity.
His business address is 1455 Pennsylvania Avenue, N.W., Suite 350,
Washington, D.C. 20004.
(vi) PAUL G. STERN
Dr. Stern, a United States citizen, is one of the members of TC Equity. His
business address is 1455 Pennsylvania Avenue, N.W., Suite 350, Washington,
D.C. 20004.
ITEM 4. PURPOSE OF TRANSACTION.
Clause (a) of Item 4 is hereby amended in its entirety to read, "(a) the
acquisition or disposition of securities of the Issuer, except for sales of
Common Stock in the ordinary course;"
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
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Item 5 is hereby amended in its entirety to read as follows:
(a)-(b). The aggregate number and percentage of outstanding shares of Common
Stock beneficially owned by each of the Reporting Persons are set forth below.
Each Reporting Person has the sole power (except as otherwise noted) to vote and
to dispose of the shares of Common Stock listed opposite its name.
NAME OF NUMBER OF SHARES PERCENT OF OUTSTANDING
BENEFICIAL OWNER BENEFICIALLY OWNED SHARES OWNED (4)
---------------------- ---------------------- ------------------------
TC Plus, LLC 1,015,552 9.98%
Thayer Equity
Investors III, L.P.(1) 1,015,552 9.98%
TC Equity
Partners, L.L.C. (2) 1,015,552 9.98%
Frederic V. Malek(3) 1,015,552 9.98%
Carl J. Rickertsen(3) 1,015,552 9.98%
Paul G. Stern(3) 1,015,552 9.98%
(1) Thayer is the managing member of Plus.
(2) TC Equity is the sole general partner of Thayer and has sole voting and
investment power with respect to the shares of Common Stock held of record
by Plus.
(3) Messrs. Malek and Rickertsen and Dr. Stern share power to vote and
dispose of shares of Common Stock.
(4) Based on shares of Common Stock outstanding on June 20, 2001.
(c) On June 13, 2001, Plus sold 315,950 shares of Common Stock generating gross
proceeds of $3,221,395; on June 27, 2001, Plus sold 159,000 shares of Common
Stock generating gross proceeds of $1,605,900; and on July 2, 2001, Plus sold
77,565 shares of Common Stock generating gross proceeds of $795,041.25.
(d) and (e). Not applicable.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH
RESPECT TO SECURITIES OF THE ISSUER.
On April 11, 2000, the Stockholders Agreement was amended (as amended,
the "Amended Stockholders Agreement"). According to the terms and conditions
of the Amended Stockholders Agreement, (a) ePlus' board of directors will
continue to have six members with two directors designated by Plus, two
directors designated by the management stockholders party to the Amended
Stockholders Agreement and two directors designated by a nominating
committee comprised of one individual designated by Plus and one individual
designated by the management stockholders party to the Amended Stockholders
Agreement, (b) Plus has the right to have the shares of Common Stock that it
has purchased and that it has acquired through exercise of the warrant
included in the Issuer's shelf registration statement and if those shares
are not included in the shelf registration statement or if the shelf
registration statement is not effective, Plus has the right to demand
registration of its shares on three separate occasions,* (c) Plus has the
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right to request inclusion of its shares in any other registration by the
Issuer of it Common Stock,* (d) if Issuer agrees to purchase any shares of
its common stock held by the management stockholders party to the Amended
Stockholders Agreement, it must give notice to Plus and if Plus wishes to
participate, the Issuer must purchase its shares on the same terms and
conditions, (e) shares of Common Stock held by stockholders party to the
Amended Stockholders Agreement will no longer subject to the terms thereof
when such shares are transferred in a registered offering or pursuant to
Rule 144 under the Securities Act of 1933, and (f) all rights and
obligations under the Amended Stockholders Agreement terminate when Plus
no longer holds 5% of the outstanding Common Stock and shall remain
terminated even if Plus later acquires 5% or more of the outstanding Common
Stock.
* TC Plus used its registration rights under the Amended Stockholders
Agreement to register shares in the Issuer's follow-on public offering that
was completed on April 17, 2000.
ITEM 7. MATERIALS TO BE FILED AS EXHIBITS.
Exhibit 1 - Amended and Restated Stockholders Agreement dated April 11,
2000, by and between ePlus, Inc. and Certain of its Stockholders.
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SIGNATURES
After reasonable inquiry and to the best of our knowledge and belief, we
certify that the information set forth in this statement is true, complete and
correct.
DATED: JULY 20, 2001
TC PLUS, LLC
By: /s/ BARRY E. JOHNSON
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Name: Barry E. Johnson
Authorized Representative
THAYER EQUITY INVESTORS III, L.P.
By: TC Equity Partners, L.L.C. its
General Partner
By: /s/ BARRY E. JOHNSON
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Frederic V. Malek, by Barry E. Johnson,
Attorney-in-Fact
Member
TC EQUITY PARTNERS, L.L.C.
By: /s/ BARRY E. JOHNSON
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Frederic V. Malek, by Barry E. Johnson,
Attorney-in-Fact
Member
/s/ BARRY E. JOHNSON
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Frederic V. Malek, by Barry E. Johnson,
Attorney-in-Fact
/s/ BARRY E. JOHNSON
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Carl J. Rickertsen, by Barry E. Johnson,
Attorney-in-Fact
/s/ BARRY E. JOHNSON
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Paul G. Stern, by Barry E. Johnson,
Attorney-in-Fact