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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
(Rule 13d-101)
Under the Securities Exchange Act of 1934
(Amendment No. 2)*
Nathan's Famous, Inc.
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(Name of Issuer)
Common Stock, par value $0.01 per share
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(Title of Class of Securities)
632347100
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(CUSIP Number)
Joel M. Handel, Esq.
Baer Marks & Upham LLP
Kenneth S. Hackel 805 Third Avenue
P.O. Box 726 New York, New York 10022
Alpine, New Jersey 07620 (212) 702-5700
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
March 23, 1999
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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 |_|.
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.
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* 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).
(Continued on following pages)
(Page 1 of 4 Pages)
CUSIP No. 632347100 SCHEDULE 13D Page 2 of 4 Pages
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1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Kenneth S. Hackel
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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
PF
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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 of Organization
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7 Sole Voting Power
Number of
Shares 410,500
Beneficially --------------------------------------------------------
Owned By 8 Shared Voting Power
Each
Reporting 0
Person --------------------------------------------------------
With 9 Sole Dispositive Power
410,500
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10 Shared Dispositive Power
0
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11 Aggregate Amount Beneficially Owned by Each Reporting Person
410,500
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12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares |_|
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13 Percent of Class Represented By Amount in Row (11)
8.7%
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14 Type of Reporting Person
IN
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SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 632347100 SCHEDULE 13D Page 3 of 4 Pages
Item 1 Security and Issuer
This Amendment No. 2 to the original statement on Schedule 13D (the
"Statement") relates to the common stock, par value $0.01 per share (the "Common
Stock"), of Nathan's Famous, Inc., a Delaware corporation (the "Company"). The
address of the principal executive office of the Company is 1400 Old Country
Road, Westbury, New York 11590.
Item 2 Identity and Background
The information is Item 2 has not changed.
Item 3 Source and Amount of Funds or Other Consideration
The information previously reported in Item 3 is hereby amended by
adding the following after the existing information:
On March 23, 1999, the Reporting Person paid an aggregate of
$320,087.50, net of commissions and fees, for 88,300 shares of Common Stock in a
series of open-market purchases, as reported in Item 5 herein. The Reporting
Person used personal funds to purchase the shares of Common Stock.
Item 4 Purpose of Transaction
The information in Item 4 is hereby amended by deleting section 4.2
and replacing it with the follwing:
4.2 The Reporting Person disapproves of the proposed merger
transaction between the Company and Miami Subs,Inc. because it decreases
shareholder value by substantially increasing the Company's debt and diluting
the holding of current shareholders in order to acquire an underperforming
Company with a potentially large tax liability. Also, the Reporting Person
believes if the transaction is approved it will dilute earnings and cash flow
per share and cause the stock of the Company to substantially decline. The
Reporting Person is currently reviewing his options with regard to this
transaction.
Item 5 Interest in Securities of the Issuer
The number of shares over which the Reporting Person has:
(i) sole power to vote or direct the vote: 410,500
(ii) shared power to vote or direct the vote: 0
(iii) sole power to dispose or direct the disposition of: 410,500
(iv) shared power to dispose or direct the disposition of: 0
The following transactions were effected during the past sixty days:
DATE TRANSACTION NUMBER OF SHARES PRICE PER SHARE
- ---- ----------- ---------------- ---------------
3/23/99 Purchase 4,000 3.625
3/23/99 Purchase 14,300 3.625
3/23/99 Purchase 70,000 3.625
Item 6 Contracts, Arrangements, Understandings or Relationships with Respect to
Securities of the Issuer
None.
Item 7 Material to be filed as Exhibits
None.
CUSIP No. 632347100 SCHEDULE 13D Page 4 of 4 Pages
SIGNATURE
After reasonable inquiry and to the best of their knowledge and
belief, the undersigned certify the information set forth in this Amendment is
true, complete and correct.
Dated: March 25, 1999
/s/ KENNETH S. HACKEL
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Kenneth S. Hackel