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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

SCHEDULE 13D/A

(Amendment No. 1)

UNDER THE SECURITIES EXCHANGE ACT OF 1934

I.C. Isaacs & Company, Inc.
(Name of Issuer)

Common Stock, $.0001 par value

(Title of Class of Securities)

464192103

(CUSIP Number)

René Faltz, Managing Director
Würzburg Holding S.A.
41, avenue de la Gare
Luxembourg L-1611
Grand Duchy of Luxembourg

with a copy to:

Steven D. Dreyer, Esq.
Arent Fox Kintner Plotkin & Kahn, PLLC
1675 Broadway, 25th Floor
New York, New York 10019-5820
(212) 484-3917

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

October 3, 2002

(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 statement because of Rule 13d-1(e), Rule 13d-1(f) or Rule 13d-1(g), check the following box: ý


SCHEDULE 13D/A
(Amendment No. 1)
CUSIP No. 464192103   Page 1 of 11 Pages
   

1

 

NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

 

 

 

 

WÜRZBURG HOLDING S.A.

 

 
   

2

 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

 

(a) o

 

 

 

 

(b) ý
   

3

 

SEC USE ONLY
   

4

 

SOURCE OF FUNDS

 

 

 

 

WC

 

 
   

5

 

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)

 

o
   

6

 

CITIZENSHIP OR PLACE OR ORGANIZATION

 

 

 

 

LUXEMBOURG

 

 
   
Number of
Shares
  7   SOLE VOTING POWER
NONE
Beneficially  
Owned by
Each Reporting
  8   SHARED VOTING POWER
4,966,6671, *
Person With  
    9   SOLE DISPOSITIVE POWER
NONE
   

 

 

10

 

SHARED DISPOSITIVE POWER
4,966,6671, *

11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

 

4,966,667*

 

 
   

12

 

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES

 

    o
   

13

 

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

 

42.2%*

 

 
   

14

 

TYPE OF REPORTING PERSON

 

 

 

 

CO

 

 
   
*
See Item 3, Footnote 3 of this Amendment (as such term is hereinafter defined).
1
See Item 5, Paragraph (a) and (b) of this Amendment.

SCHEDULE 13D/A
(Amendment No. 1)
CUSIP No. 464192103   Page 2 of 11 Pages
   

1

 

NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

 

 

 

 

TEXTILE INVESTMENT INTERNATIONAL S.A.

 

 
   

2

 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

 

(a) o

 

 

 

 

(b) ý
   

3

 

SEC USE ONLY
   

4

 

SOURCE OF FUNDS

 

 

 

 

AF

 

 
   

5

 

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)

 

o
   

6

 

CITIZENSHIP OR PLACE OR ORGANIZATION

 

 

 

 

LUXEMBOURG

 

 
   
Number of
Shares
  7   SOLE VOTING POWER
NONE
Beneficially  
Owned by
Each Reporting
  8   SHARED VOTING POWER
4,466,6671, *
Person With  
    9   SOLE DISPOSITIVE POWER
NONE
   

 

 

10

 

SHARED DISPOSITIVE POWER
4,466,6671, *

11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

 

4,466,667*

 

 
   

12

 

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES

 

    o
   

13

 

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

 

37.9%*

 

 
   

14

 

TYPE OF REPORTING PERSON

 

 

 

 

CO

 

 
   
*
See Item 3, Footnote 3 of this Amendment.
1
See Item 5, Paragraph (a) and (b) of this Amendment.

SCHEDULE 13D/A
(Amendment No. 1)
CUSIP No. 464192103   Page 3 of 11 Pages
   

1

 

NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

 

 

 

 

ROBERT J. ARNOT

 

 
   

2

 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

 

(a) o

 

 

 

 

(b) ý
   

3

 

SEC USE ONLY
   

4

 

SOURCE OF FUNDS

 

 

 

 

OO

 

 
   

5

 

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)

 

o
   

6

 

CITIZENSHIP OR PLACE OR ORGANIZATION

 

 

 

 

UNITED STATES

 

 
   
Number of
Shares
  7   SOLE VOTING POWER
544,871*
Beneficially  
Owned by
Each Reporting
  8   SHARED VOTING POWER
NONE
Person With  
    9   SOLE DISPOSITIVE POWER
544,871*
   

 

 

10

 

SHARED DISPOSITIVE POWER
NONE

11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

 

544,871*

 

 
   

12

 

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES

 

    o
   

13

 

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

 

4.6% *

 

 
   

14

 

TYPE OF REPORTING PERSON

 

 

 

 

IN

 

 
   
*
See Item 3, Footnote 3 of this Amendment.

SCHEDULE 13D/A
(Amendment No. 1)
CUSIP No. 464192103   Page 4 of 11 Pages
   

1

 

NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

 

 

 

 

JON HECHLER

 

 
   

2

 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

 

(a) o

 

 

 

 

(b) ý
   

3

 

SEC USE ONLY
   

4

 

SOURCE OF FUNDS

 

 

 

 

OO

 

 
   

5

 

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)

 

o
   

6

 

CITIZENSHIP OR PLACE OR ORGANIZATION

 

 

 

 

UNITED STATES

 

 
   
Number of
Shares
  7   SOLE VOTING POWER
362,7911, 2, *
Beneficially  
Owned by
Each Reporting
  8   SHARED VOTING POWER
736,3611, 2, *
Person With  
    9   SOLE DISPOSITIVE POWER
362,7911, 2, *
   

 

 

10

 

SHARED DISPOSITIVE POWER
736,3611, 2, *

11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

 

1,099,1521, 2, *

 

 
   

12

 

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES

 

    o
   

13

 

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

 

9.3%*

 

 
   

14

 

TYPE OF REPORTING PERSON

 

 

 

 

IN

 

 
   
*
See Item 3, Footnote 3 of this Amendment.
1
See Item 5, Paragraph (a) and (b) of this Amendment.
2
See Item 5, Paragraph (c) of this Amendment.

SCHEDULE 13D/A
(Amendment No. 1)
CUSIP No. 464192103   Page 5 of 11 Pages
   

1

 

NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

 

 

 

 

RONALD S. SCHMIDT

 

 
   

2

 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

 

(a) o

 

 

 

 

(b) ý
   

3

 

SEC USE ONLY
   

4

 

SOURCE OF FUNDS

 

 

 

 

OO

 

 
   

5

 

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)

 

o
   

6

 

CITIZENSHIP OR PLACE OR ORGANIZATION

 

 

 

 

UNITED STATES

 

 
   
Number of
Shares
  7   SOLE VOTING POWER
15,0001, *
Beneficially  
Owned by
Each Reporting
  8   SHARED VOTING POWER
152,1111, *
Person With  
    9   SOLE DISPOSITIVE POWER
15,0001, *
   

 

 

10

 

SHARED DISPOSITIVE POWER
152,1111, *

11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

 

167,1111, *

 

 
   

12

 

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES

 

    o
   

13

 

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

 

1.4%*

 

 
   

14

 

TYPE OF REPORTING PERSON

 

 

 

 

IN

 

 
   
*
See Item 3, Footnote 3 of this Amendment.
1
See Item 5, Paragraph (a) and (b) of this Amendment.

SCHEDULE 13D/A
(Amendment No. 1)
CUSIP No. 464192103   Page 6 of 11 Pages
   

1

 

NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

 

 

 

 

EUGENE C. WIELEPSKI

 

 
   

2

 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

 

(a) o

 

 

 

 

(b) ý
   

3

 

SEC USE ONLY
   

4

 

SOURCE OF FUNDS

 

 

 

 

OO

 

 
   

5

 

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)

 

o
   

6

 

CITIZENSHIP OR PLACE OR ORGANIZATION

 

 

 

 

UNITED STATES

 

 
   
Number of
Shares
  7   SOLE VOTING POWER
231,7422, *
Beneficially  
Owned by
Each Reporting
  8   SHARED VOTING POWER
NONE
Person With  
    9   SOLE DISPOSITIVE POWER
231,7422, *
   

 

 

10

 

SHARED DISPOSITIVE POWER
NONE

11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

 

231,742*

 

 
   

12

 

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES

 

    o
   

13

 

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

 

2.0%*

 

 
   

14

 

TYPE OF REPORTING PERSON

 

 

 

 

IN

 

 
   
*
See Item 3, Footnote 3 of this Amendment.
2
See Item 5, Paragraph (c) of this Amendment.

SCHEDULE 13D/A
(Amendment No. 1)
CUSIP No. 464192103   Page 7 of 11 Pages
   

1

 

NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

 

 

 

 

THOMAS P. ORMANDY

 

 
   

2

 

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

 

(a) o

 

 

 

 

(b) ý
   

3

 

SEC USE ONLY
   

4

 

SOURCE OF FUNDS

 

 

 

 

OO

 

 
   

5

 

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)

 

o
   

6

 

CITIZENSHIP OR PLACE OR ORGANIZATION

 

 

 

 

UNITED STATES

 

 
   
Number of
Shares
  7   SOLE VOTING POWER
164,1112, *
Beneficially  
Owned by
Each Reporting
  8   SHARED VOTING POWER
NONE
Person With  
    9   SOLE DISPOSITIVE POWER
164,1112, *
   

 

 

10

 

SHARED DISPOSITIVE POWER
NONE

11   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

 

164,111*

 

 
   

12

 

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 9 EXCLUDES CERTAIN SHARES

 

    o
   

13

 

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

 

1.4%*

 

 
   

14

 

TYPE OF REPORTING PERSON

 

 

 

 

IN

 

 
   
*
See Item 3, Footnote 3 of this Amendment.
2
See Item 5, Paragraph (c) of this Amendment.

SCHEDULE 13D/A
(Amendment No. 1)
CUSIP No. 464192103   Page 8 of 11 Pages

        This Amendment No. 1 (this "Amendment" or this "Amendment No. 1") amends and supplements the Statement on Schedule 13D filed with the Securities and Exchange Commission on May 23, 2002 (the "Statement" or "Schedule 13D") by Würzburg Holding, S.A., Textile Investment International S.A., Robert J. Arnot, Jon Hechler, Ronald S. Schmidt, Eugene C. Wielepski, and Thomas P. Ormandy with respect to the Common Stock, par value $0.0001 per share, of I.C. Isaacs & Company, Inc., a Delaware corporation (the "Issuer"). All capitalized terms not otherwise defined in this Amendment No. 1 shall have the same meanings ascribed thereto in the Schedule 13D.

ITEM 3. Source and Amount of Funds or Other Consideration

The response set forth in Item 3 of the Schedule 13D is hereby amended and supplemented by inserting the following paragraphs as the fifth and sixth paragraphs of such Item 3:

        The stockholders of the Issuer approved the transactions contemplated by the Framework Agreement at the Annual Meeting held on September 17, 2002. On October 3, 2002, the Issuer, the wholly-owned subsidiary of the Issuer, I.C. Isaacs & Company, L.P., Würzburg, Textile and Latitude satisfied the remaining conditions precedent to the consummation of the transactions contemplated by the Framework Agreement. See Sections 2.02 and 2.03 of the Framework Agreement, which are hereby incorporated herein by reference. In consideration thereof, the Issuer, Würzburg, Textile and Latitude consummated the transactions contemplated by the Framework Agreement, which included the issuance of warrants by the Issuer to Textile, expiring on December 31, 2011, and the filing of a Second Amendment to the Certificate of Designation (the "Certificate of Designation") with the Secretary of State of the State of Delaware on October 7, 2002 amending the terms of the Preferred Stock to make it immediately convertible into Common Stock. The voting obligations of the Reporting Persons under the Voting Agreement thereupon expired in accordance with its terms. See Sections 2 and 3 of the Voting Agreement, which are incorporated herein by this reference.

        Pursuant to Rule 13d-3(d)(1)(i)(A) of the Act all of the shares of Common Stock into which the Warrants and Preferred Stock are convertible are deemed to be outstanding.3


3
For purposes of calculating the percentage ownership of Common Stock held by each Reporting Person in this Amendment, the Issuer is deemed to have 11,775,907 shares of Common Stock outstanding, including the 3,300,000 shares of Preferred Stock convertible into Common Stock, an aggregate of 500,000 shares of Common Stock issuable upon exercise of the warrants to purchase Common Stock, and an aggregate of 141,250 shares of Common Stock issuable upon the exercise of outstanding stock options that are exercisable as of the date of this Amendment, or within sixty (60) days thereafter.

SCHEDULE 13D/A
(Amendment No. 1)
CUSIP No. 464192103   Page 9 of 11 Pages

ITEM 4. Purpose of Transaction

        The response set forth in Item 4 of the Schedule 13D is hereby amended and supplemented by inserting the following paragraph as the fifth paragraph of such Item 4:

ITEM 5. Interest in Securities of the Issuer

        Paragraphs (a) and (b) of Item 5 is hereby amended and restated in its entirety as follows:


SCHEDULE 13D/A
(Amendment No. 1)
CUSIP No. 464192103   Page 10 of 11 Pages

        Paragraph (c) of Item 5 is hereby amended and restated in its entirety as follows:

Stockholder

  Amount of Shares of Common Stock
  Date of Transaction
Eugene C. Wielepski   10,000 (pursuant to grant of immediately exercisable Stock Option by Issuer)   September 19, 2002
Thomas P. Ormandy   (2,000)   September 30, 2002
Jon Hechler   (3,000)   September 30, 2002
Textile   500,000 (pursuant to private issuance of warrants by Issuer)   October 3, 2002

        Paragraph (e) of Item 5 of the Schedule 13D is hereby amended and restated in its entirety as follows:

ITEM 7. Material to be Filed as Exhibits

        1.    Framework Agreement dated as of May 14, 2002, by and among the Issuer, I.C. Isaacs & Company L.P., Textile, Latitude and Würzburg. (Exhibit 10.96 to the Issuer's Current Report on Form 8-K dated May 20, 2002 is incorporated herein by reference).

        2.    Voting Agreement dated as of May 14, 2002 by and among Würzburg, Textile and the Principal Stockholders. (Exhibit 10.97 to the Issuer's Current Report on Form 8-K dated May 20, 2002 is incorporated herein by reference.)

        3.    The Stockholders' Agreement dated as of October 3, 2002 by and among the Issuer, Würzburg and Textile.

        4.    Warrant No. 1 issued by the Issuer to Textile for the purchase of 300,000 shares of Common Stock at an exercise price of $.75 per share, expiring on December 31, 2011.

        5.    Warrant No. 2 issued by the Issuer to Textile for the purchase of 200,000 shares of Common Stock at an exercise price of $.75 per share, expiring on December 31, 2011.

        6.    Second Certificate of Amendment to Certificate of Designation, Number, Voting Powers, Preferences and Rights of the Series of Preferred stock of I.C. Isaacs & Company, Inc. Designated as Series A Convertible Preferred Stock, filed with the Secretary of State of the State of Delaware on October 7, 2002.


SCHEDULE 13D/A
(Amendment No. 1)
CUSIP No. 464192103   Page 11 of 11 Pages


SIGNATURES

        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 current4.

    Würzburg Holding S.A.

 

 

By:

/s/  
RENÉ FALTZ      
René Faltz, Managing Director

 

 

By:

/s/  
TOM FELGEN      
Tom Felgen, Managing Director

 

 

Textile Investment International S.A.

 

 

By:

/s/  
RENÉ FALTZ      
René Faltz, Managing Director

 

 

By:

/s/  
TOM FELGEN      
Tom Felgen, Managing Director

 

 

/s/  
ROBERT J. ARNOT      
Robert J. Arnot

 

 

/s/  
JON HECHLER      
Jon Hechler

 

 


Ronald S. Schmidt

 

 

/s/  
EUGENE C. WIELEPSKI      
Eugene C. Wielepski

 

 

/s/  
THOMAS P. ORMANDY      
Thomas P. Ormandy

4
The Principal Stockholders do not certify any statements that relate solely to Würzburg, Textile and/or the persons identified on Schedule A to the Schedule 13D, and Würzburg and Textile do not certify any statements relating solely to the Principal Stockholders.



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SIGNATURES