-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, UARUzhE3QIrXOP2vQdzLUvA6pl4TgxugWmSnQObbJ3I4jeSTx5QZI+EECHlfR4iO 3zzh0X0hFSUohFad1hmcVA== 0000903893-97-000534.txt : 19970329 0000903893-97-000534.hdr.sgml : 19970329 ACCESSION NUMBER: 0000903893-97-000534 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 4 FILED AS OF DATE: 19970328 SROS: NONE GROUP MEMBERS: CAHILL EDWARD L GROUP MEMBERS: CAHILL, WARNOCK & CO., LLC GROUP MEMBERS: CAHILL, WARNOCK STRATEGIC PARTNERS FUND, L.P. GROUP MEMBERS: CAHILL, WARNOCK STRATEGIC PARTNERS, L.P. GROUP MEMBERS: DAVID L. WARNOCK GROUP MEMBERS: STRATEGIC ASSOCIATES, L.P. SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: CONCORDE CAREER COLLEGES INC CENTRAL INDEX KEY: 0000832483 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-EDUCATIONAL SERVICES [8200] IRS NUMBER: 431440321 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-40233 FILM NUMBER: 97567254 BUSINESS ADDRESS: STREET 1: 1100 MAIN ST STREET 2: 12TH & BALTIMORE PO BOX 26610 CITY: KANSAS CITY STATE: MO ZIP: 64196 BUSINESS PHONE: 8164748002 MAIL ADDRESS: STREET 1: 1100 MAIN STREET STREET 2: STE 416 CITY: KANSAS CITY STATE: MO ZIP: 64105 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: CAHILL EDWARD L CENTRAL INDEX KEY: 0001025665 STANDARD INDUSTRIAL CLASSIFICATION: [] FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: A STREET 2: 10 NORTH CALVERT ST STE 735 CITY: BALTIMORE STATE: MD ZIP: 21202 BUSINESS PHONE: 4102441300 MAIL ADDRESS: STREET 1: 10 NORTH CALVERT ST STREET 2: SUITE 735 CITY: BALTIMORE STATE: MD ZIP: 21202 SC 13D/A 1 SCHEDULE 13D/A SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D UNDER THE SECURITIES EXCHANGE ACT OF 1934 (AMENDMENT NO. 1)* Concorde Career Colleges, Inc. - -------------------------------------------------------------------------------- (Name of Issuer) Common Stock, $.10 Par Value Per Share - -------------------------------------------------------------------------------- (Title of Class of Securities) 20651H 10 2 - -------------------------------------------------------------------------------- (CUSIP Number) Walter H. Stowell, Esq. Testa, Hurwitz & Thibeault, LLP 125 High Street, Boston, MA 02110 (617) 248-7000 - -------------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) March 25, 1997 - -------------------------------------------------------------------------------- (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 [ ]. Note: Six copies of this statement, including all exhibits, should be filed with the Commission. See Rule 13d-1(a) 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 ("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. 20651H 10 2 - ----------------------------------------- - ---------- --------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Edward L. Cahill SSN: ###-##-#### - ---------- --------------------------------------------------------------------- - ---------- --------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) [ ] (b) [X] - ---------- --------------------------------------------------------------------- - ---------- --------------------------------------------------------------------- 3 SEC USE ONLY - ---------- --------------------------------------------------------------------- - ---------- --------------------------------------------------------------------- 4 SOURCE OF FUNDS (See Instructions) AF - ---------- --------------------------------------------------------------------- - ---------- --------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED [ ] PURSUANT TO ITEMS 2(d) or 2(e) - ---------- --------------------------------------------------------------------- - ---------- --------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION USA - ---------- --------------------------------------------------------------------- - ---------- ----------------- -------- ------------------------------------------ 7 SOLE VOTING POWER -0- NUMBER OF SHARES -------- ------------------------------------------ -------- ------------------------------------------ BENEFICIALLY 8 SHARED VOTING POWER OWNED BY 1,566,180 -------- ------------------------------------------ -------- ------------------------------------------ EACH 9 SOLE DISPOSITIVE POWER REPORTING -0- PERSON WITH -------- ------------------------------------------ -------- ------------------------------------------ 10 SHARED DISPOSITIVE POWER 1,566,180 - ---------------------------- -------- ------------------------------------------ - ---------- --------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,566,180 - ---------- --------------------------------------------------------------------- - ---------- --------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) [X] - ---------- --------------------------------------------------------------------- - ---------- --------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 19.5% - ---------- --------------------------------------------------------------------- - ---------- --------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON (See Instructions) IN - ---------- --------------------------------------------------------------------- - ----------------------------------------- CUSIP NO. 20651H 10 2 - ----------------------------------------- - ---------- --------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON David L. Warnock SSN: ###-##-#### - ---------- --------------------------------------------------------------------- - ---------- --------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) [ ] (b) [X] - ---------- --------------------------------------------------------------------- - ---------- --------------------------------------------------------------------- 3 SEC USE ONLY - ---------- --------------------------------------------------------------------- - ---------- --------------------------------------------------------------------- 4 SOURCE OF FUNDS (See Instructions) AF - ---------- --------------------------------------------------------------------- - ---------- --------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] - ---------- --------------------------------------------------------------------- - ---------- --------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION USA - ---------- --------------------------------------------------------------------- - ---------- ----------------- -------- ------------------------------------------ 7 SOLE VOTING POWER -0- NUMBER OF SHARES -------- ------------------------------------------ -------- ------------------------------------------ BENEFICIALLY 8 SHARED VOTING POWER OWNED BY 1,566,180 -------- ------------------------------------------ -------- ------------------------------------------ EACH 9 SOLE DISPOSITIVE POWER REPORTING -0- PERSON WITH -------- ------------------------------------------ -------- ------------------------------------------ 10 SHARED DISPOSITIVE POWER 1,566,180 - ---------------------------- -------- ------------------------------------------ - ---------- --------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,566,180 - ---------- --------------------------------------------------------------------- - ---------- --------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) [x] - ---------- --------------------------------------------------------------------- - ---------- --------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 19.5% - ---------- --------------------------------------------------------------------- - ---------- --------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON (See Instructions) IN - ---------- --------------------------------------------------------------------- - ----------------------------------------- CUSIP NO. 20651H 10 2 - ----------------------------------------- - ---------- --------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Cahill, Warnock Strategic Partners, L.P. IRSN: 52-1970604 - ---------- --------------------------------------------------------------------- - ---------- --------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) [ ] (b) [X] - ---------- --------------------------------------------------------------------- - ---------- --------------------------------------------------------------------- 3 SEC USE ONLY - ---------- --------------------------------------------------------------------- - ---------- --------------------------------------------------------------------- 4 SOURCE OF FUNDS (See Instructions) AF - ---------- --------------------------------------------------------------------- - ---------- --------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] - ---------- --------------------------------------------------------------------- - ---------- --------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware Limited Partnership - ---------- --------------------------------------------------------------------- - ---------------------------- -------- ------------------------------------------ 7 SOLE VOTING POWER -0- NUMBER OF SHARES -------- ------------------------------------------ -------- ------------------------------------------ BENEFICIALLY 8 SHARED VOTING POWER OWNED BY 1,566,180 -------- ------------------------------------------ -------- ------------------------------------------ EACH 9 SOLE DISPOSITIVE POWER REPORTING -0- PERSON WITH -------- ------------------------------------------ -------- ------------------------------------------ 10 SHARED DISPOSITIVE POWER 1,566,180 - ---------------------------- -------- ------------------------------------------ - ---------- --------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,566,180 - ---------- --------------------------------------------------------------------- - ---------- --------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) [X] - ---------- --------------------------------------------------------------------- - ---------- --------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 19.5% - ---------- --------------------------------------------------------------------- - ---------- --------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON (See Instructions) PN - ---------- --------------------------------------------------------------------- - ----------------------------------------- CUSIP NO. 20651H 10 2 - ----------------------------------------- - ---------- --------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Cahill, Warnock Strategic Partners Fund, L.P. IRSN: 52-1970619 - ---------- --------------------------------------------------------------------- - ---------- --------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) [X] (b) [ ] - ---------- --------------------------------------------------------------------- - ---------- --------------------------------------------------------------------- 3 SEC USE ONLY - ---------- --------------------------------------------------------------------- - ---------- --------------------------------------------------------------------- 4 SOURCE OF FUNDS (See Instructions) WC, BK - ---------- --------------------------------------------------------------------- - ---------- --------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] - ---------- --------------------------------------------------------------------- - ---------- --------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware Limited Partnership - ---------- --------------------------------------------------------------------- - ---------------------------- -------- ------------------------------------------ 7 SOLE VOTING POWER -0- NUMBER OF SHARES -------- ------------------------------------------ -------- ------------------------------------------ BENEFICIALLY 8 SHARED VOTING POWER OWNED BY 1,566,180 -------- ------------------------------------------ -------- ------------------------------------------ EACH 9 SOLE DISPOSITIVE POWER REPORTING -0- PERSON WITH -------- ------------------------------------------ -------- ------------------------------------------ 10 SHARED DISPOSITIVE POWER 1,566,180 - ---------------------------- -------- ------------------------------------------ - ---------- --------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,566,180 - ---------- --------------------------------------------------------------------- - ---------- --------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) [X] - ---------- --------------------------------------------------------------------- - ---------- --------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 19.5% - ---------- --------------------------------------------------------------------- - ---------- --------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON (See Instructions) PN - ---------- --------------------------------------------------------------------- - ----------------------------------------- CUSIP NO. 20651H 10 2 - ----------------------------------------- - ---------- --------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Cahill, Warnock & Company, LLC IRSN: 52-1931617 - ---------- --------------------------------------------------------------------- - ---------- --------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) [ ] (b) [X] - ---------- --------------------------------------------------------------------- - ---------- --------------------------------------------------------------------- 3 SEC USE ONLY - ---------- --------------------------------------------------------------------- - ---------- --------------------------------------------------------------------- 4 SOURCE OF FUNDS (See Instructions) AF - ---------- --------------------------------------------------------------------- - ---------- --------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] - ---------- --------------------------------------------------------------------- - ---------- --------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Maryland Limited Liability Company - ---------- --------------------------------------------------------------------- - ---------------------------- -------- ------------------------------------------ 7 SOLE VOTING POWER -0- NUMBER OF SHARES -------- ------------------------------------------ -------- ------------------------------------------ BENEFICIALLY 8 SHARED VOTING POWER OWNED BY 1,566,180 -------- ------------------------------------------ -------- ------------------------------------------ EACH 9 SOLE DISPOSITIVE POWER REPORTING -0- PERSON WITH -------- ------------------------------------------ -------- ------------------------------------------ 10 SHARED DISPOSITIVE POWER 1,566,180 - ---------------------------- -------- ------------------------------------------ - ---------- --------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,566,180 - ---------- --------------------------------------------------------------------- - ---------- --------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) [X] - ---------- --------------------------------------------------------------------- - ---------- --------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 19.5% - ---------- --------------------------------------------------------------------- - ---------- --------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON (See Instructions) OO - ---------- --------------------------------------------------------------------- - ----------------------------------------- CUSIP NO. 20651H 10 2 - ----------------------------------------- - ---------- --------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Strategic Associates, L.P. IRSN: 52-1991689 - ---------- --------------------------------------------------------------------- - ---------- --------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) [X] (b) [ ] - ---------- --------------------------------------------------------------------- - ---------- --------------------------------------------------------------------- 3 SEC USE ONLY - ---------- --------------------------------------------------------------------- - ---------- --------------------------------------------------------------------- 4 SOURCE OF FUNDS (See Instructions) WC - ---------- --------------------------------------------------------------------- - ---------- --------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [ ] - ---------- --------------------------------------------------------------------- - ---------- --------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware Limited Partnership - ---------- --------------------------------------------------------------------- - ---------------------------- -------- ------------------------------------------ 7 SOLE VOTING POWER -0- NUMBER OF SHARES -------- ------------------------------------------ -------- ------------------------------------------ BENEFICIALLY 8 SHARED VOTING POWER OWNED BY 1,566,180 -------- ------------------------------------------ -------- ------------------------------------------ EACH 9 SOLE DISPOSITIVE POWER REPORTING -0- PERSON WITH -------- ------------------------------------------ -------- ------------------------------------------ 10 SHARED DISPOSITIVE POWER 1,566,180 - ---------------------------- -------- ------------------------------------------ - ---------- --------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,566,180 - ---------- --------------------------------------------------------------------- - ---------- --------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) [X] - ---------- --------------------------------------------------------------------- - ---------- --------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 19.5% - ---------- --------------------------------------------------------------------- - ---------- --------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON (See Instructions) PN - ---------- --------------------------------------------------------------------- ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION: On March 25, 1997 Cahill, Warnock Strategic Partners Fund, L.P. ("Strategic Partners Fund") acquired an additional 10,662 shares of Class B Voting Convertible Preferred Stock of Concorde Career Colleges, Inc. (the "Issuer") for a total purchase price of $290,006.40. The additional preferred stock acquired by Strategic Partners Fund is currently convertible into 213,240 shares of the Issuer's Common Stock. The working capital of Strategic Partners Fund was the source of funds for this purchase. No part of the purchase price was or will be represented by funds or other consideration borrowed or otherwise obtained for the purpose of acquiring, holding, trading or voting the preferred stock. ITEM 4. PURPOSE OF TRANSACTION: In the Schedule 13D filed with the Securities and Exchange Commission (the "SEC") on March 7, 1997 on behalf of Strategic Partners Fund, Cahill, Warnock Strategic Partners, L.P. ("Strategic Partners"), Cahill, Warnock & Company, LLC ("Cahill, Warnock & Co."), Strategic Associates, L.P. ("Strategic Associates"), Edward L. Cahill ("Cahill") and David L. Warnock ("Warnock")(collectively, the "Reporting Persons"), it was disclosed that pursuant to a certain Convertible Preferred Stock Purchase Agreement dated as of February 25, 1997, by and among the Issuer, Strategic Partners Fund and Strategic Associates, Strategic Partners Fund was obligated to purchase from the Issuer an additional 12,500 shares of Class B Voting Convertible Preferred Stock. This agreement was subsequently amended by a certain Amendment No. 1 to Convertible Preferred Stock Purchase Agreement dated as of March 20, 1997, by and among the Issuer, Strategic Partners Fund, Strategic Associates and James Seward (attached hereto as Exhibit 2). As a consequence of the foregoing amendment, Strategic Partners Fund's obligation to purchase additional shares of the Issuer's Class B Voting Convertible Preferred Stock was reduced to 10,662 shares, with James Seward agreeing to purchase the remaining 1,838 shares. On March 25, 1997, Strategic Partners Fund and James Seward purchased the aforementioned shares. ITEM 5. INTEREST IN THE SECURITIES OF THE ISSUER: (a) Strategic Partners Fund is the record owner of 50,414 shares of Class B Voting Convertible Preferred Stock of the Issuer (the "Fund Preferred Stock"). The Fund Preferred Stock is currently convertible into 1,008,280 shares of the Issuer's Common Stock (the "Fund Conversion Shares"). In addition, Strategic Partners Fund is the record owner of 473,750 shares of Common Stock of the Issuer (the "Fund Common Stock"). Strategic Associates is the record owner of 2,895 shares of Class B Voting Convertible Preferred Stock of the Issuer (the "Associates Preferred Stock"). The Associates Preferred Stock is currently convertible into 57,900 shares of the Issuer's Common Stock (the "Associates Conversion Shares"). In addition, Strategic Associates is the record owner of 26,250 shares of Common Stock of the Issuer (the "Associates Common Stock"). The Fund Conversion Shares, the Fund Common Stock, the Associates Conversion Shares and the Associates Common Stock are sometimes referred to herein collectively as the "Concorde Shares". Because of their relationship as affiliated entities, both Strategic Partners Fund and Strategic Associates may be deemed to own beneficially the Concorde Shares. As general partners of Strategic Partners Fund and Strategic Associates, respectively, Strategic Partners and Cahill, Warnock & Co. may be deemed to own beneficially the Concorde Shares. As the individual general partners of Strategic Partners and as the members of Cahill, Warnock & Co., both Cahill and Warnock may be deemed to own beneficially the Concorde Shares. By virtue of a certain Stockholders' Agreement dated as of February 25, 1997, each of the Reporting Persons may be deemed to share voting power with respect to each share of the Issuer's stock subject to the agreement. Consequently, the Reporting Persons may be deemed to beneficially own, in addition to the Concorde Shares, an additional 3,337,048 shares of the Issuer's Common Stock (the "Agreement Shares"). Strategic Partners Fund disclaims beneficial ownership of the Associates Conversion Shares, the Associates Common Stock and the Agreement Shares. Strategic Associates disclaims beneficial ownership of the Fund Conversion Shares, the Fund Common Stock and Agreement Shares. Strategic Partners, Cahill, Warnock & Co., Cahill and Warnock each disclaim beneficial ownership of the Concorde Shares and the Agreement Shares. Each of the Reporting Persons may be deemed to own beneficially 19.5% of the Issuer's Common Stock, which percentage is calculated based upon (i) 6,961,776 shares of Common Stock reported outstanding by the Issuer in its Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 1996, and (ii) the number of shares of Common Stock (1,066,180) issuable upon conversion of the Fund Preferred Stock and Associates Preferred Stock. The calculation of beneficial ownership percentage does not reflect potential deemed beneficial ownership of the Agreement Shares. (b) Number of Shares as to which each such person has (i) Sole power to vote or direct the vote: 0 shares for each Reporting Person; (ii) Shared power to vote or direct the vote: 1,566,180* shares for each Reporting Person; (iii) Sole power to dispose or to direct the disposition: 0 shares for each Reporting Person; (iv) Shared power to dispose or to direct the disposition: 1,566,180* shares for each Reporting Person. * Does not reflect potential deemed beneficial ownership of the Agreement Shares. ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER: In the Schedule 13D filed with the SEC on March 7, 1997 on behalf of the Reporting Persons, it was disclosed that pursuant to a certain Convertible Preferred Stock Purchase Agreement dated as of February 25, 1997, by and among the Issuer, Strategic Partners Fund and Strategic Associates, Strategic Partners Fund was obligated to purchase from the Issuer an additional 12,500 shares of Class B Voting Convertible Preferred Stock. This agreement was subsequently amended by a certain Amendment No. 1 to Convertible Preferred Stock Purchase Agreement dated as of March 20, 1997, by and among the Issuer, Strategic Partners Fund, Strategic Associates and James Seward (attached hereto as Exhibit 2). As a consequence of the foregoing amendment, Strategic Partners Fund's obligation to purchase additional shares of the Issuer's Class B Voting Convertible Preferred Stock was reduced to 10,662 shares, with James Seward agreeing to purchase the remaining 1,838 shares. On March 25, 1997, Strategic Partners Fund and James Seward purchased the aforementioned shares. Pursuant to a certain Agreement, dated as of March 20, 1997 (attached hereto as Exhibit 3) by and among the Issuer, Strategic Partners Fund, Strategic Associates, Jack L. Brozman, The Estate of Robert F. Brozman, the Robert F. Brozman Trust under Agreement dated 12/28/89 and James R. Seward (the parties to the Agreement, with the exception of James Seward, are referred to herein collectively as the "Other Parties"), James Seward agrees to comply with and be bound by certain provisions of a certain Stockholders' Agreement, dated as of February 25, 1997 by and among the Other Parties. As a consequence of this Agreement, certain shares of Class B Voting Convertible Preferred Stock held by Mr. Seward are subject to certain restrictions on transfer and a right of first refusal. The right of first refusal referred to in this Agreement, under certain circumstances, grants each party to this Agreement certain rights of first refusal in the event any of the other parties (with the exception of the Issuer) wish to transfer stock of the Issuer. In addition, pursuant to this Agreement, Mr. Seward is granted certain "piggyback" registrations rights. ITEM 7. MATERIAL TO BE FILED AS EXHIBITS: Exhibit 1 - Agreement regarding filing of joint Schedule 13D. Exhibit 2 - Amendment No. 1 to Convertible Preferred Stock Purchase Agreement, dated as of March 20, 1997, by and among the Issuer, Strategic Partners Fund, Strategic Associates and James Seward. Exhibit 3 - Agreement, dated as of March 20, 1997 by and among the Issuer, Strategic Partners Fund, Strategic Associates, Jack L. Brozman, The Estate of Robert F. Brozman, the Robert Brozman Trust under Agreement dated 12/28/89 and James R. Seward. SCHEDULE 13D SIGNATURE 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: March 26, 1997 /s/ Edward L. Cahill -------------------- Edward L. Cahill /s/ David L. Warnock -------------------- David L. Warnock CAHILL, WARNOCK STRATEGIC PARTNERS FUND, L.P. By: Cahill, Warnock Strategic Partners, L.P., its Sole General Partner By: /s/ Edward L. Cahill --------------------------------- Edward L. Cahill, General Partner By: /s/ David L. Warnock --------------------------------- David L. Warnock, General Partner CAHILL, WARNOCK STRATEGIC PARTNERS, L.P. By: /s/ Edward L. Cahill ------------------------------------- Edward L. Cahill, General Partner By: /s/ David L. Warnock --------------------------------- David L. Warnock, General Partner STRATEGIC ASSOCIATES, L.P. By: Cahill, Warnock & Co., LLC, its sole General Partner By: /s/ Edward L. Cahill -------------------------------- Edward L. Cahill, Member By: /s/ David L. Warnock -------------------------------- David L. Warnock, Member CAHILL, WARNOCK & CO., LLC By: /s/ Edward L. Cahill -------------------------------- Edward L. Cahill, Member By: /s/ David L. Warnock -------------------------------- David L. Warnock, Member EX-1 2 AGREEMENT-JOINT SCHEDULE Exhibit 1 AGREEMENT Pursuant to Rule 13d-1(f)(1) under the Securities Exchange Act of 1934, the undersigned hereby agree that only one statement containing the information required by Schedule 13D need be filed with respect to the ownership by each of the undersigned of shares of stock of Concorde Career Colleges, Inc. This Agreement may be executed in any number of counterparts, each of which shall be deemed an original. Executed this 26th day of March, 1997. /s/ Edward L. Cahill -------------------- Edward L. Cahill /s/ David L. Warnock -------------------- David L. Warnock CAHILL, WARNOCK STRATEGIC PARTNERS FUND, L.P. By: Cahill, Warnock Strategic Partners, L.P., its Sole General Partner By: /s/ Edward L. Cahill --------------------------------- Edward L. Cahill, General Partner By: /s/ David L. Warnock --------------------------------- David L. Warnock, General Partner CAHILL, WARNOCK STRATEGIC PARTNERS, L.P. By: /s/ Edward L. Cahill ------------------------------------ Edward L. Cahill, General Partner By: /s/ David L. Warnock ------------------------------------ David L. Warnock, General Partner STRATEGIC ASSOCIATES, L.P. By: Cahill, Warnock & Co., LLC, its sole General Partner By: /s/ Edward L. Cahill ------------------------------- Edward L. Cahill, Member By: /s/ David L. Warnock ------------------------------- David L. Warnock, Member CAHILL, WARNOCK & CO., LLC By: /s/ Edward L. Cahill ---------------------------- Edward L. Cahill, Member By: /s/ David L. Warnock ---------------------------- David L. Warnock, Member EX-2 3 STOCK PURCHASE AGREEMENT Exhibit 2 AMENDMENT NO. 1 TO CONVERTIBLE PREFERRED STOCK PURCHASE AGREEMENT This Amendment No. 1 (this "Amendment") is dated March 20, 1997 and is by and among the Concorde Career Colleges, Inc. ("Concorde"), Cahill, Warnock Strategic Partners Fund, L.P. ("Partners"), Strategic Associates, L.P. ("Associates") and James R. Seward ("Seward") and amends that certain Convertible Preferred Stock Purchase Agreement dated as of February 25, 1997 by and among Concorde, Partners and Associates (the "Agreement"). Capitalized terms used and not otherwise defined herein shall have the meanings ascribed to them in the Agreement. RECITALS WHEREAS, the Agreement provides, among other things, for the issuance and sale by Concorde, and the purchase by Partners, of 12,500 shares (the "Shares") of Concorde's Class B convertible Preferred Stock, par value $0.10 per share (the "Preferred Stock") at the Second Closing; WHEREAS, Partners desires to assign to Seward its right to purchase, at the Second Closing, 1,838 shares of Preferred Stock (the "Seward Shares") of the 12,500 Shares, thereby reserving to Partners the right to purchase 10,662 shares of Preferred Stock (the "Partners Shares") at the Second Closing, and Seward desires to accept and Concorde desires to consent to such assignment (the "Assignment"); WHEREAS, the parties hereto each desire to amend the Agreement to divide the purchase of the Shares between Partners and Seward, on the terms and conditions set forth herein. AGREEMENT NOW, THEREFORE, in consideration of the premises contained herein and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows: 1. Consent to Assignment. Concorde hereby consents to the Assignment as required by Section 10.5 of the Agreement. 2. Seward as a Purchaser. Seward shall be deemed a "Purchaser", solely and exclusively for purposes of the Second Closing, under Sections 2.2, 3, 5, 7.9, 8.1, 8.7 and 10 of the Agreement, as if he were an original party to, and included within the definition of "Purchaser" under, the Agreement. 3. Waiver of Affiliate Transaction. Partners, Associates and Concorde hereby waive the application of the provisions of Section 9.2(c) of the Agreement for purposes of the Assignment, the purchase and sale of the Seward Shares and the provisions of and transactions contemplated by this Amendment. 4. Amendment to Schedule 3.2. Schedule 3.2 of the Agreement is hereby amended, with respect only to the Second Closing described therein, as follows: SECOND CLOSING NUMBER OF SHARES PURCHASE PRICE Cahill, Warnock Strategic Partners Fund, L.P. 10,662 $290,006.40 James R. Seward 1,838 $49,993.60 5. Stockholders' Agreement. Seward shall execute and deliver the certain Agreement dated of even date herewith regarding his being subject and entitled to, and obligated to comply with and be bound by , certain provisions of the Stockholders' Agreement dated as of February 25, 1997 by and among Concorde, Partners, Associates and certain other parties signatory thereto. 6. Miscellaneous. Sections 10.3 through and including 10.8 of the Agreement are incorporated herein by reference. 7. Agreement Remains in Force. Except as specifically amended or addressed hereby, all of the provisions, terms and conditions of the Agreement shall remain in full force and effect. [signatures follow on next page] IN WITNESS WHEREOF, the parties have executed this amendment by person thereunto duly authorized as of the date first written above. CONCORDE CAREER COLLEGES, INC. By: /s/ Jack L. Brozman -------------------- Jack L. Brozman President CAHILL, WARNOCK STRATEGIC PARTNERS FUND, L.P. By: Cahill, Warnock Strategic Partners, L.P., its general partner By: /s/ David L. Warnock -------------------------- David L. Warnock A General Partner STRATEGIC ASSOCIATES, L.P. By: Cahill, Warnock & Company, LLC, its general partner By: /s/ David L. Warnock --------------------------- David L. Warnock Managing Member /s/ James Seward --------------------- James R. Seward EX-3 4 AGREEMENT Exhibit 3 AGREEMENT This Agreement (this "AGREEMENT") is dated March 20, 1997 and is by and among the Concorde Career Colleges, Inc. ("CONCORDE"), Cahill, Warnock Strategic Partners Fund, L.P. ("PARTNERS"), Strategic Associates, L.P. ("ASSOCIATES"), Jack L. Brozman, The Estate of Robert F. Brozman, the Robert F. Brozman Trust under Agreement dated 12/28/89 (collectively, "BROZMAN") and James R. Seward ("SEWARD") and relates to the Stockholders' Agreement dated as of February 25, 1997 by and among Concorde, Partners, Associates and Brozman (the "AGREEMENT"). Capitalized terms used and not otherwise defined herein shall have the meanings ascribed to them in the Agreement. RECITALS WHEREAS, Seward desires to purchase 1,838 shares (the "SEWARD SHARES") of Concorde's Class B Convertible Preferred Stock, par value $0.10 per share (the "PREFERRED STOCK"); WHEREAS, as a condition to such purchase of the Seward Shares, the other parties hereto (the "OTHER PARTIES") desire Seward to have the rights and obligations provided by certain provisions of the Agreement, and Seward desires to have such rights and be bound by such obligations, on the terms and conditions hereof. AGREEMENT NOW, THEREFORE, in consideration of the premises contained herein and other good and valuable consideration the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows: 1. RESTRICTION ON TRANSFER. With respect only to the Seward Shares, Seward shall be subject and entitled to, and shall comply with and be bound by, the provisions of Article 4 of the Agreement, as if Seward was a "Securityholder" and the Seward Shares were "Shares" as defined in the Agreement. 2. REGISTRATION RIGHTS. With respect only to the Seward Shares, Seward shall be subject and entitled to, and shall comply with and be bound by, the provisions of Article 5 (except for Section 5.2(a)) of the Agreement, as if Seward was a "Preferred Stock Holder". 3. MISCELLANEOUS. With respect only to the Seward Shares and the application of the Agreement to Seward and the Seward Shares as provided hereby, Seward shall be subject and entitled to, and shall comply with and be bound by, the provisions of Article 9 of the Agreement. 4. AGREEMENT REMAINS IN FORCE. Except as specifically amended hereby, all of the provisions, terms and conditions of the Agreement shall remain in full force and effect. [signatures follow on next page] IN WITNESS WHEREOF, the parties have executed this Agreement by persons thereunto duly authorized as of the date fist written above. CONCORDE CAREER COLLEGES, INC. By: /s/ Jack L. Brozman -------------------------- Jack L. Brozman President CAHILL, WARNOCK STRATEGIC PARTNERS FUND, L.P. By: Cahill, Warnock Strategic Partners, L.P. its general partner By: /s/ David L. Warnock ----------------------------- David L. Warnock A General Partner STRATEGIC ASSOCIATES, L.P. By: Cahill, Warnock & Company, LLC, its general partner By: /s/ David L. Warnock ------------------------ David L. Warnock Managing Member /s/ Jack L. Brozman --------------------------- Jack L. Brozman ESTATE OF ROBERT F. BROZMAN By: /s/ Jack L. Brozman ----------------------- Jack L. Brozman Executor ROBERT F. BROZMAN TRUST UTA 12/28/89 By: /s/ Jack L. Brozman ---------------------- Jack L. Brozman Trustee /s/ James R. Seward ------------------------ James R. Seward -----END PRIVACY-ENHANCED MESSAGE-----