Well Amey from Business Week (it appears) was going by the company press release so we can't fault her too much but yours certainly seem to be a better assessment of the actual holdings,close enough.
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FOR IMMEDIATE RELEASE...
GOLDMAN SACHS MAKES INVESTMENT IN WIT CAPITAL
Investment Focused on Creating Significant Value-Added Expertise for Internet Related Investment Banking Services
(New York, N.Y.) March 29, 1999 - The Goldman Sachs Group, L.P. and Wit Capital Group, Inc., announced today that Goldman Sachs will make a minority equity investment in Wit Capital. Wit Capital is a New York-based investment banking and brokerage firm focused on the offering and selling of securities through the Internet to a community of online investors.
Under the terms of this transaction Goldman Sachs will purchase stock and warrants representing approximately 22% of Wit Capital's outstanding common stock without including the shares proposed to be issued in Wit Capital's planned initial public offering. The two companies will cooperate in a number of areas including initial public offerings and, in particular, affinity programs for issuing clients. Under the terms of the transaction, the firms will maintain a non-exclusive relationship with each other.
"Wit Capital has pioneered the integration of the Internet and the capital markets, and both investors and corporate issuers are benefiting as a result. We believe that Wit Capital is both an attractive investment for Goldman Sachs and an important part of our ongoing commitment to supporting the Internet and other new technologies in our business, both through internal development and external investment. We look forward to working with Wit Capital to provide our clients with better and more integrated investment banking services than exist in the marketplace today," said Henry M. Paulson, Jr., co-Chairman and Chief Executive Officer of Goldman Sachs.
"Both Goldman Sachs and Wit Capital have complementary expertise as it relates to clients who are leveraging the Internet to create efficiencies in their businesses," commented Ronald Readmond, Wit Capital's President and co-Chief Executive Officer. "We believe that through this relationship we can combine Goldman Sachs' banking and institutional expertise with Wit Capital's online distribution to provide issuers stronger execution of their equity offerings." .....
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Now this is what the post offering SEC filing says.
STOCK OWNERSHIP OF MANAGEMENT AND PRINCIPAL STOCKHOLDERS
The following table sets forth certain information regarding the beneficial ownership of our common equity as of May 31, 1999 (assuming the conversion of all of our outstanding preferred stock) by: (1) each person or entity that we know beneficially owns 5% or more of our common equity; (2) our co-chief executive officers and the other four most highly compensated executive officers as of May 31, 1999; (3) each of our directors; and (4) all our current directors and executive officers as a group.
Number of Percentage of Common
Shares Equity Beneficially
Beneficially Owned
Owned --------------------
Prior to Prior to After
Name of Beneficial Owner Offering(1) Offering Offering(2)
------------------------ ------------ -------- -----------
<S> <C> <C> <C>
Capital Z Financial Services Fund II, L.P... 11,666,667 18.5% 16.5%
One Chase Manhattan Plaza, 44th Floor
New York, NY 10005
Draper Fisher Jurvetson(3).................. 5,149,687 8.1 7.2
400 Seaport Court
Redwood City, CA 94063
John H.N. Fisher(4)......................... -- -- --
400 Seaport Court
Redwood City, CA 94063
Edward H. Fleischman(5)..................... 28,802 * *
Steven Gluckstern(6)........................ -- -- --
One Chase Manhattan Plaza, 44th Floor
New York, NY 10005
The Goldman Sachs Group, Inc.(7) ........... 11,666,667 18.5 16.5
85 Broad Street
New York, NY 10004
Joseph R. Hardiman(5)...................... 40,468 * *
Andrew D. Klein(8).......................... 4,378,338 6.9 6.2
Everett Lang(9)............................. 170,966 * *
Robert H. Lessin(10)........................ 4,641,000 7.4 6.6
George Lieberman (11)....................... 122,111 * *
Mark Loehr.................................. 875,000 1.4 1.2
Gilbert C. Maurer(5)........................ 5,468 * *
Adam Mizel(6)............................... -- -- --
One Chase Manhattan Plaza, 44th Floor
New York, NY 10005
Ronald Readmond(12)......................... 1,675,333 2.7 2.4
All executive officers and directors as a 13,014,360 20.5 18.3
group (17 persons)(13).....................
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