UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. __)*
VERTICALNET, INC.
-----------------
(Name of Issuer)
Common Stock, $0.01 par value
-----------------------------
(Title of Class of Securities)
92532L206
---------
(CUSIP Number)
July 29, 2003
-------------
(Date of Event which Requires Filing
of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[X] Rule 13d-1(b)
[ ] Rule 13d-1(c)
[ ] Rule 13d-1(d)
*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 the
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 10 Pages
Exhibit Index: Page 9
SCHEDULE 13G
CUSIP No. 92532L206 Page 2 of 10 Pages
1 Names of Reporting Persons
I.R.S. Identification Nos. of above persons (entities only)
ANGELO, GORDON & CO., L.P.
2 Check the Appropriate Box If a Member of a Group (See Instructions)
a. [ ]
b. [X]
3 SEC Use Only
4 Citizenship or Place of Organization
DELAWARE
5 Sole Voting Power
Number of 1,494,600
Shares
Beneficially 6 Shared Voting Power
Owned By 0
Each
Reporting 7 Sole Dispositive Power
Person 1,494,600
With
8 Shared Dispositive Power
0
9 Aggregate Amount Beneficially Owned by Each Reporting Person
1,494,600
10 Check Box If the Aggregate Amount in Row (9) Excludes Certain
Shares (See Instructions)
[ ]
11 Percent of Class Represented By Amount in Row (9)
9.10%
12 Type of Reporting Person (See Instructions)
BD, IA, PN
SCHEDULE 13G
CUSIP No. 92532L206 Page 3 of 10 Pages
1 Names of Reporting Persons
I.R.S. Identification Nos. of above persons (entities only)
JOHN M. ANGELO
2 Check the Appropriate Box If a Member of a Group (See Instructions)
a. [ ]
b. [X]
3 SEC Use Only
4 Citizenship or Place of Organization
UNITED STATES
5 Sole Voting Power
Number of 0
Shares
Beneficially 6 Shared Voting Power
Owned By 1,494,600
Each
Reporting 7 Sole Dispositive Power
Person 0
With
8 Shared Dispositive Power
1,494,600
9 Aggregate Amount Beneficially Owned by Each Reporting Person
1,494,600
10 Check Box If the Aggregate Amount in Row (9) Excludes Certain
Shares (See Instructions)
[ ]
11 Percent of Class Represented By Amount in Row (9)
9.10%
12 Type of Reporting Person (See Instructions)
HC
SCHEDULE 13G
CUSIP No. 92532L206 Page 4 of 10 Pages
1 Names of Reporting Persons
I.R.S. Identification Nos. of above persons (entities only)
MICHAEL L. GORDON
2 Check the Appropriate Box If a Member of a Group (See Instructions)
a. [ ]
b. [X]
3 SEC Use Only
4 Citizenship or Place of Organization
UNITED STATES
5 Sole Voting Power
Number of 0
Shares
Beneficially 6 Shared Voting Power
Owned By 1,494,600
Each
Reporting 7 Sole Dispositive Power
Person 0
With
8 Shared Dispositive Power
1,494,600
9 Aggregate Amount Beneficially Owned by Each Reporting Person
1,494,600
10 Check Box If the Aggregate Amount in Row (9) Excludes Certain
Shares (See Instructions)
[ ]
11 Percent of Class Represented By Amount in Row (9)
9.10%
12 Type of Reporting Person (See Instructions)
HC
Page 5 of 10 Pages
Item 1(a) Name of Issuer:
VerticalNet, Inc. (the "Issuer")
Item 1(b) Address of the Issuer's Principal Executive Offices:
400 Chester Field Parkway, Malvern, Pennsylvania 19355
Item 2(a) Name of Person Filing:
The Statement is filed on behalf of each of the following persons
(collectively, the "Reporting Persons"):
i) Angelo, Gordon & Co., L.P. ("Angelo, Gordon");
ii) John M. Angelo, in his capacities as a general partner of AG
Partners, L.P., the sole general partner of Angelo, Gordon,
and as the chief executive officer of Angelo, Gordon ("Mr.
Angelo"); and
iii) Michael L. Gordon, in his capacities as the other general
partner of AG Partners, L.P., the sole general partner of
Angelo, Gordon, and as the chief operating officer of
Angelo, Gordon ("Mr. Gordon").
This statement relates to Shares (as defined herein) held for the
account of a private investment fund for which Angelo, Gordon acts as general
partner and/or investment adviser.
Item 2(b) Address of Principal Business Office or, if None, Residence:
The address of the principal business office of each of the
Reporting Persons is 245 Park Avenue, New York, New York 10167.
Item 2(c) Citizenship:
1) Angelo, Gordon is a Delaware limited partnership;
2) Mr. Angelo is a citizen of the United States; and
3) Mr. Gordon is a citizen of the United States.
Item 2(d) Title of Class of Securities:
Common Stock, $0.01 par value per share (the "Shares").
Item 2(e) CUSIP Number:
92532L206
Page 6 of 10 Pages
Item 3. If this statement is filed pursuant to Rule 13d-1(b), or 13d-2(b)
or (c), check whether the person filing is a:
i) Angelo, Gordon is a broker-dealer registered under Section
15 of the Act and an investment adviser registered under
Section 203 of the Investment Advisers Act of 1940.
ii) Mr. Angelo is a control person of Angelo, Gordon.
iii) Mr. Gordon is a control person of Angelo, Gordon.
Item 4. Ownership:
Item 4(a) Amount Beneficially Owned:
As of August 6, 2003, each of the Reporting Persons may be deemed
the beneficial owner of 1,494,600 Shares held for the account of a private
investment fund for which Angelo, Gordon acts a general manager and/or
investment adviser.
Item 4(b) Percent of Class:
Each of the Reporting Persons may be deemed to be the beneficial
owner of approximately 9.10% of the total number of Shares outstanding (based
upon information provided to the Reporting Persons by the Issuer, the number of
Shares outstanding was 16,418,685 as of August 6, 2003).
Item 4(c) Number of shares as to which such person has:
Angelo, Gordon
--------------
(i) Sole power to vote or direct the vote: 1,494,600
(ii) Shared power to vote or to direct the vote 0
(iii) Sole power to dispose or to direct the
disposition of 1,494,600
(iv) Shared power to dispose or to direct the
disposition of 0
Mr. Angelo
----------
(i) Sole power to vote or direct the vote: 0
(ii) Shared power to vote or to direct the vote 1,494,600
(iii) Sole power to dispose or to direct the
disposition of 0
(iv) Shared power to dispose or to direct the
disposition of 1,494,600
Mr. Gordon
----------
(i) Sole power to vote or direct the vote: 0
(ii) Shared power to vote or to direct the vote 1,494,600
(iii) Sole power to dispose or to direct the
disposition of 0
(iv) Shared power to dispose or to direct the
disposition of 1,494,600
Page 7 of 10 Pages
Item 5. Ownership of Five Percent or Less of a Class:
This Item 5 is not applicable.
Item 6. Ownership of More than Five Percent on Behalf of Another Person:
The limited partners of (or investors in) the private investment
fund for which Angelo, Gordon acts as general partner and/or investment adviser
have the right to participate in the receipt of dividends from, or proceeds from
the sale of, the securities held for the account of the fund in accordance with
their respective limited partnership interests (or investment percentages) in
the private investment fund.
Item 7. Identification and Classification of the Subsidiary Which
Acquired the Security Being Reported on by the Parent Holding
Company:
Angelo, Gordon is the relevant entity for which Mr. Angelo and
Mr. Gordon may each be considered a control person.
Angelo, Gordon is a broker-dealer registered under Section 15 of
the Act and an investment adviser registered under the Investment Advisers Act
of 1940.
Item 8. Identification and Classification of Members of the Group:
This Item 8 is not applicable.
Item 9. Notice of Dissolution of Group:
This Item 9 is not applicable.
Item 10. Certification:
By signing below each of the Reporting Persons certifies that, to
the best of such person's knowledge and belief, the securities referred to above
were acquired and are held in the ordinary course of business and were not
acquired and are not held for the purpose of or with the effect of changing or
influencing the control of the Issuer of such securities and were not acquired
and are not held in connection with or as a participant in any transaction
having such purpose or effect.
Page 8 of 10 Pages
SIGNATURES
After reasonable inquiry and to the best of my knowledge and belief, the
undersigned certifies that the information set forth in this statement is true,
complete and correct.
Date: August 7, 2003 ANGELO, GORDON & CO., L.P.
By: AG Partners, L.P.
Its General Partner
By:/s/ Michael L. Gordon
------------------------
Name: Michael L. Gordon
Title: General Partner
Date: August 7, 2003 JOHN M. ANGELO
/s/ John M. Angelo
---------------------------
Date: August 7, 2003 MICHAEL L. GORDON
/s/ Michael L. Gordon
---------------------------
Page 9 of 10 Pages
EXHIBIT INDEX
Page No.
A. Joint Filing Agreement, dated as of August 7, 2003, by and
among Angelo, Gordon & Co., L.P., John M. Angelo and Michael
L. Gordon................................................... 10
Page 10 of 10 Pages
EXHIBIT A
JOINT FILING AGREEMENT
The undersigned hereby agree that the statement on Schedule 13G with
respect to the common stock, $0.01 par value per share, of VerticalNet, Inc.,
dated as of August 7, 2003, is, and any amendments thereto (including amendments
on Schedule 13D) signed by each of the undersigned shall be, filed on behalf of
each of us pursuant to and in accordance with the provisions of Rule 13d-1(k)
under the Securities Exchange Act of 1934.
Date: August 7, 2003 ANGELO, GORDON & CO., L.P.
By: AG Partners, L.P.
Its General Partner
By:/s/ Michael L. Gordon
------------------------
Name: Michael L. Gordon
Title: General Partner
Date: August 7, 2003 JOHN M. ANGELO
/s/ John M. Angelo
---------------------------
Date: August 7, 2003 MICHAEL L. GORDON
/s/ Michael L. Gordon
---------------------------