Page 13 of 21 – SEC Filing
The following constitutes
the Schedule 13D filed by the undersigned (the “Schedule 13D”).
| Item 1. | Security and Issuer. |
This statement relates
to shares of common stock, par value $0.10 per share (“Common Stock”), of Safeguard Scientifics, Inc., a Pennsylvania
corporation (the “Issuer”). The address of the principal executive offices of the Issuer is 170 North Radnor-Chester
Road, Suite 200, Radnor, PA 19087.
| Item 2. | Identity and Background. |
(a) This
statement is filed by Sierra Capital Investments, LP, a Delaware limited partnership (“Sierra”), Horton Capital Partners
Fund, LP, a Delaware limited partnership (“HCPF”), AVI Capital Partners, LP, a Delaware limited partnership (“AVI”),
Horton Capital Partners LLC, a Delaware limited liability company (“HCP”), Horton Capital Management, LLC, a Delaware
limited liability company (“HCM”), Maplewood Advisors GP, LLC, a Delaware limited liability company (“MAGP”),
Maplewood Advisors IM, LLC, a Delaware limited liability company (“MAIM”), Maplewood Global Partners, LLC, a Delaware
limited liability company (“MGP”), Maplewood Partners, LLC, a Delaware limited liability company (“MP”),
Darren C. Wallis (“Mr. Wallis”) and Joseph M. Manko, Jr. (“Mr. Manko” and together with Mr. Wallis, Sierra,
MP, MGP, MAGP, MAIM, AVI, HCPF, HCP and HCM, the “Reporting Persons” and each a “Reporting Person”), with
respect to shares of Common Stock of the Issuer. Each of the Reporting Persons is party to that certain Joint Filing Agreement,
as further described in Item 6. Accordingly, the Reporting Persons are hereby filing a joint Schedule 13D.
(b) The
address of the principal office of each of HCPF, HCP, HCM and Mr. Manko is 1717 Arch Street, Suite 3920, Philadelphia, PA 19103.
The address of the principal office of each of Sierra, AVI, MAIM, MP, MGP, MAGP and Mr. Wallis is 555 E. Lancaster Avenue, Suite
520, Radnor, PA 19087.
(c) The
principal business of each of Sierra, HCPF, AVI, MAGP, MGP and HCP is purchasing, holding and selling securities for investment
purposes. The principal business of HCM is serving as the investment manager of HCPF and Sierra. The principal business of MAIM
is serving as the investment manager of AVI and Sierra. HCP is the general partner of HCPF. HCP and MGP are the general partners
of Sierra. MAGP is the general partner of AVI. MP is the parent company of MGP, MAGP and MAIM. The principal occupation of Mr.
Wallis is serving as the managing member of MP, MGP, MAGP and MAIM. The principal occupation of Mr. Manko is serving as the managing
member of HCM and HCP.
(d) No
Reporting Person has, during the last five years, been convicted in a criminal proceeding (excluding traffic violations or similar
misdemeanors).
(e) No
Reporting Person has, during the last five years, been party to a civil proceeding of a judicial or administrative body of competent
jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations
of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to
such laws.
(f) Mr.
Manko and Mr. Wallis are citizens of the United States of America.
| Item 3. | Source and Amounts of Funds or other Consideration. |
The
shares of Common Stock acquired by the Reporting Persons were purchased with working capital of each of HCPF, AVI, HCM, MAIM and
Sierra (which may, at any given time, include margin loans made by brokerage firms in the ordinary course of business) in open
market purchases. The net investment costs (including commissions, if any) of the Shares directly owned by the Reporting Persons
is approximately $12,465,784 including the net cost of Shares. The amounts paid were funded by working capital.
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