-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Vzg5ez+wdPewi7R1TSfZ6n55mIWLdAzRidLIfUaKPxjbBPtR3g0Lhq+0xYJMHsRb kLnOezrQ+vxyhMKohw1q0Q== 0001193125-03-064150.txt : 20031020 0001193125-03-064150.hdr.sgml : 20031020 20031020165951 ACCESSION NUMBER: 0001193125-03-064150 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20031020 GROUP MEMBERS: GEORGE J. STILL, JR. GROUP MEMBERS: ITASCA PARTNERS, LLP GROUP MEMBERS: JOHN E. LINDAHL GROUP MEMBERS: JOHN P. WHALEY SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: NVE CORP /NEW/ CENTRAL INDEX KEY: 0000724910 STANDARD INDUSTRIAL CLASSIFICATION: SEMICONDUCTORS & RELATED DEVICES [3674] IRS NUMBER: 411424202 STATE OF INCORPORATION: MN FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-59937 FILM NUMBER: 03948225 BUSINESS ADDRESS: STREET 1: 11409 VALLEY VIEW ROAD CITY: EDEN PRAIRIE STATE: MN ZIP: 55344 BUSINESS PHONE: 9528299217 MAIL ADDRESS: STREET 1: 11409 VALLEY VIEW ROAD CITY: EDEN PRAIRIE STATE: MN ZIP: 55344 FORMER COMPANY: FORMER CONFORMED NAME: PREMIS CORP DATE OF NAME CHANGE: 19920703 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: NORWEST EQUITY PARTNERS IV LP /MN/ CENTRAL INDEX KEY: 0000901837 IRS NUMBER: 411647118 STATE OF INCORPORATION: MN FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 3600 IDS CENTER STREET 2: 80 SOUTH EIGHTH STREET CITY: MINNEAPOLIS STATE: MN ZIP: 55402 BUSINESS PHONE: 6122151667 MAIL ADDRESS: STREET 1: 3600 IDS CENTER 80 SOUTH EIGHTH STREET CITY: MINNEAPOLIS STATE: MN ZIP: 554026 SC 13D/A 1 dsc13da.txt AMENDMENT NO. 3 TO SCHEDULE 13D SEC 1746 Potential persons who are to respond to the collection of information 11-02) contained in this form are not required to respond unless the form displays a currently valid OMB control number. ----------------------------- OMB APPROVAL ----------------------------- OMB Number: 3235-0145 ----------------------------- Expires: December 31, 2005 ----------------------------- Estimated average burden hours per response........ 11 ----------------------------- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. 3)* NVE Corporation - -------------------------------------------------------------------------------- (Name of Issuer) Common Stock, $.01 par value - -------------------------------------------------------------------------------- (Title of Class of Securities) 629445206 - -------------------------------------------------------------------------------- (CUSIP Number) Mary E. Schaffner Wells Fargo & Company MAC N9305-173 Wells Fargo Center Sixth and Marquette Minneapolis, MN 55479 (612) 667-2367 - -------------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) October 10, 2003 - -------------------------------------------------------------------------------- (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 that is the subject of this Schedule 13D, and is filing this schedule because of (S)(S)240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. [_] Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See (S)240.13d-7 for other parties to whom copies are to be sent. * 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). CUSIP No. 629445206 13D Page 2 of 10 --------- - -------------------------------------------------------------------------------- 1. Name of Reporting Persons I.R.S. Identification No(s). of above person(s) (entities only) Norwest Equity Partners IV Federal Tax Identification Number: 41-1647118 - -------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) [_] (b) [X] - -------------------------------------------------------------------------------- 3. SEC USE ONLY - -------------------------------------------------------------------------------- 4. Source of Funds (See Instructions) N/A - -------------------------------------------------------------------------------- 5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) [_] - -------------------------------------------------------------------------------- 6. Citizenship or Place of Organization Minnesota - -------------------------------------------------------------------------------- 7. Sole Voting Power Number of 0 Shares ----------------------------------------------------------- Beneficially 8. Shared Voting Power Owned by 0 Each ----------------------------------------------------------- Reporting 9. Sole Dispositive Power Person 0 With ----------------------------------------------------------- 10. Shared Dispositive Power 0 - -------------------------------------------------------------------------------- 11. Aggregate Amount Beneficially Owned by Each Reporting Person 0 - -------------------------------------------------------------------------------- 12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [_] - -------------------------------------------------------------------------------- 13. Percent of Class Represented by Amount in Row (11) 0% - -------------------------------------------------------------------------------- 14. Type of Reporting Person (See Instructions) PN - -------------------------------------------------------------------------------- CUSIP No. 629445206 13D Page 3 of 10 ----------------- - -------------------------------------------------------------------------------- 1. Name of Reporting Persons I.R.S. Identification No(s). of above person(s) (entities only) Itasca Partners Federal Tax Indentification Number: 41-1647117 - -------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) [_] (b) [X] - -------------------------------------------------------------------------------- 3. SEC USE ONLY - -------------------------------------------------------------------------------- 4. Source of Funds (See Instructions) N/A - -------------------------------------------------------------------------------- 5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) [_] - -------------------------------------------------------------------------------- 6. Citizenship or Place of Organization Minnesota - -------------------------------------------------------------------------------- 7. Sole Voting Power Number of 0 Shares ----------------------------------------------------------- Beneficially 8. Shared Voting Power Owned by 0 Each ----------------------------------------------------------- Reporting 9. Sole Dispositive Power Person 0 With ----------------------------------------------------------- 10. Shared Dispositive Power 0 - -------------------------------------------------------------------------------- 11. Aggregate Amount Beneficially Owned by Each Reporting Person 0 - -------------------------------------------------------------------------------- 12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) - -------------------------------------------------------------------------------- 13. Percent of Class Represented by Amount in Row (11) 0% - -------------------------------------------------------------------------------- 14. Type of Reporting Person (See Insturctions) PN - -------------------------------------------------------------------------------- CUSIP No. 629445206 13D Page 4 of 10 ----------------- - -------------------------------------------------------------------------------- 1. Name of Reporting Persons I.R.S. Identification No(s). of above person(s) (entities only) John E. Lindahl - -------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) [_] (b) [X] - -------------------------------------------------------------------------------- 3. SEC USE ONLY - -------------------------------------------------------------------------------- 4. Source of Funds (See Instructions) N/A - -------------------------------------------------------------------------------- 5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) [_] - -------------------------------------------------------------------------------- 6. Citizenship or Place of Organization United States - -------------------------------------------------------------------------------- 7. Sole Voting Power Number of 0 Shares ----------------------------------------------------------- Beneficially 8. Shared Voting Power Owned by 0 Each ----------------------------------------------------------- Reporting 9. Sole Dispositive Power Person 0 With: ----------------------------------------------------------- 10. Shared Dispositive Power 0 - -------------------------------------------------------------------------------- 11. Aggregate Amount Beneficially Owned by Each Reporting Person 0 - -------------------------------------------------------------------------------- 12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) - -------------------------------------------------------------------------------- 13. Percent of Class Represented by Amount in Row (11) 0% - -------------------------------------------------------------------------------- 14. Type of Reporting Person (See Instructions) IN - -------------------------------------------------------------------------------- CUSIP No. 629445206 13D Page 5 of 10 --------- - -------------------------------------------------------------------------------- 1. Name of Reporting Persons I.R.S. Identification No(s). of above person(s) (entities only) George J. Still, Jr. - -------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) [_] (b) [x] - -------------------------------------------------------------------------------- 3. SEC USE ONLY - -------------------------------------------------------------------------------- 4. Source of Funds (See Instructions) oo - -------------------------------------------------------------------------------- 5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) [_] - -------------------------------------------------------------------------------- 6. Citizenship or Place of Organization United States - -------------------------------------------------------------------------------- 7. Sole Voting Power Number of 13,568 Shares ----------------------------------------------------------- Beneficially 8. Shared Voting Power Owned by 0 Each ----------------------------------------------------------- Reporting 9. Sole Dispositive Power Person 13,568 With ----------------------------------------------------------- 10. Shared Dispositive Power 0 - -------------------------------------------------------------------------------- 11. Aggregate Amount Beneficially Owned by Each Reporting Person 13,568 - -------------------------------------------------------------------------------- 12. Check Box if the Aggregate Amount in Row (11) Excludes certain Shares (See Instructions) - -------------------------------------------------------------------------------- 13. Percent of Class Represented by Amount in Row (11) 0.3% - -------------------------------------------------------------------------------- 14. Type of Reporting Person (See Instructions) IN - -------------------------------------------------------------------------------- CUSIP No. 629445206 13D Page 6 of 10 --------- - -------------------------------------------------------------------------------- 1. Name of Reporting Persons I.R.S. Identification No(s). of above person(s) (entities only) John P. Whaley - -------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) [_] (b) [x] - -------------------------------------------------------------------------------- 3. SEC USE ONLY - -------------------------------------------------------------------------------- 4. Source of Funds (See Instructions) oo - -------------------------------------------------------------------------------- 5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) [_] - -------------------------------------------------------------------------------- 6. Citizenship or Place of Organization United States - -------------------------------------------------------------------------------- 7. Sole Voting Power Number of 12,012 Shares ----------------------------------------------------------- Beneficially 8. Shared Voting Power Owned by 0 Each ----------------------------------------------------------- Reporting 9. Sole Dispositive Power Person 12,012 With ----------------------------------------------------------- 10. Shared Dispositive Power 0 - -------------------------------------------------------------------------------- 11. Aggregate Amount Beneficially Owned by Each Reporting Person 12,012 - -------------------------------------------------------------------------------- 12. Check if the Aggregate Amount in Row (11) Excludes certain Shares (See Instructions) - -------------------------------------------------------------------------------- 13. Percent of Class Represented by Amount in Row (11) 0.3% - -------------------------------------------------------------------------------- 14. Type of Reporting Person (See Instructions) IN - -------------------------------------------------------------------------------- CUSIP No. 629445206 13D Page 7 of 10 --------- STATEMENT FOR SCHEDULE 13D Item 1. Security and Issuer. This Schedule 13D relates to the common stock, par value $.01 per share, of NVE Corporation, whose executive offices are located at 11409 Valley View Road, Eden Prairie, Minnesota 55344. Item 2. Identity and Background. (a)-(c) This statement is filed by the entities and persons listed below, each a "Reporting Person": Norwest Equity Partners IV Itasca Partners John E. Lindahl George J. Still, Jr. John P. Whaley Norwest Equity Partners IV ("NEP IV") is a Minnesota limited partnership, of which Itasca Partners, a Minnesota limited liability partnership ("Itasca Partners"), is the general partner. John E. Lindahl and George J. Still, Jr. are the managing partners of Itasca Partners and John P. Whaley is the managing administrative partner of Itasca Partners. The address of NEP IV is 3600 IDS Center, 80 South Eighth Street, Minneapolis, Minnesota 55402. (d) During the last five years, none of the persons listed above has been convicted in any criminal proceedings (excluding traffic violations or similar misdemeanors). (e) During the last five years, none of the persons listed above has been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction as a result of which he or it 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 violations with respect to such laws. (f) Each of the entities listed above is organized under the laws of the state of Minnesota. Each of the natural persons listed above is a United States citizen. Item 3. Source and Amount of Funds or Other Consideration. On October 10, 2003, NEP IV reacquired direct ownership of the shares reported herein through a transfer by John P. Whaley. John P. Whaley had acquired the shares from NEP IV on July 10, 2003. On October 10, 2003, NEP IV distributed, as a pro rata partnership distribution without consideration, an aggregate of 1,221,487 shares of NVE Corporation common stock, representing all shares of NVE Corporation common stock held by NEP IV (the "Distribution"). George J. Still, Jr. and John P. Whaley received 13,568 and 11,783 shares, respectively, in the Distribution. Item 4. Purpose of Transaction. Reference is made to Item 3, above. NEP IV made the Distribution to provide its partners with an equity interest in NVE Corporation, who hold such shares for investment purposes only. Item 5. Interest in Securities of the Issuer. (a) Reference is made to rows (11) and (13) on the cover page for each Reporting Person. (b) Reference is made to rows (7) through (10) on the cover page for each Reporting Person. CUSIP No. 629445206 13D Page 8 of 10 --------- (c) Reference is made to Item 4, above. (d) With the exception of the persons who are the holders of record of the shares of common stock of NVE Corporation listed above, no other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the shares of common stock beneficially owned by the Reporting Persons. (e) October 10, 2003. Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer. Reference is made to Item 4, above. On October 10, 2003, NEP IV reacquired direct ownership of the shares reported herein through a transfer by John P. Whaley pursuant to the terms of a Stock Purchase Agreement between the same parties. The Stock Purchase Agreement is attached to this Schedule 13D as Exhibit 7.1. Item 7. Material to be Filed as Exhibits. 7.1 Stock Purchase Agreement by and between John P. Whaley and Norwest Equity Partners IV, dated as of October 10, 2003. CUSIP No.629445206 13D Page 9 of 10 --------- SIGNATURES After reasonable inquiry and to the best of my knowledge and belief of the undersigned, the undersigned certify that the information set forth in this statement is true, complete and correct. Dated: October 20, 2003 Norwest Equity Partners IV /s/ John P. Whaley By: John P. Whaley, Managing Administrative Partner of Itasca Partners., the General Partner of Norwest Equity Partners IV Attention: Intentional misstatements or omissions of fact constitute Federal criminal violations (See 18 U.S.C. 1001) CUSIP No.629445206 13D Page 10 of 10 --------- Exhibit Index 7.1 Stock Purchase Agreement by and between John P. Whaley and Norwest Equity Partners IV, dated as of October 10, 2003. EX-7.1 3 dex71.txt STOCK PURCHASE AGREEMENT EXHIBIT 7.1 STOCK PURCHASE AGREEMENT THIS STOCK PURCHASE AGREEMENT (the "Agreement") is made as of the 10th day of October, 2003 by and between JOHN P. WHALEY (the "Seller") and NORWEST EQUITY PARTNERS IV, L.P. (the "Purchaser"). RECITALS WHEREAS, on July 10, 2003 (the "Prior Sale Date") the Purchaser sold to the Seller One Million, Two Hundred Twenty-One Thousand, Four Hundred Eighty-Seven (1,221,487) shares of the common stock of NVE Corporation (the "Shares"), with offices at 11409 Valley View Road, Eden Prairie, Minnesota 55344 pursuant to that certain Stock Purchase Agreement between the Purchaser and the Seller, dated as of the Prior Sale Date (the "Purchase Agreement"); WHEREAS, the Shares were purchased under the Purchase Agreement with a Non-Recourse Promissory Note, dated as of the Prior Sale Date (the "Note") issued in favor of the Purchaser; and WHEREAS, the Seller desires to sell the Shares to the Purchaser, and the Purchaser desires to repurchase the Shares from the Seller for an amount equal to the total indebtedness represented by the Note as of the date of this Agreement, and on the terms and conditions hereinafter set forth. WITNESSETH: NOW, THEREFORE, in consideration of the covenants and agreements herein set forth and in reliance on the representation contained herein, the parties hereby agree as follows: Section 1 Purchase and Sale of Stock. 1.1 Method of Transfer. Seller hereby agrees to sell, transfer, assign and deliver to the Purchaser and Purchaser agrees to acquire the Shares, free and clear of all liens, charges and encumbrances. 1.2 Purchase Price & Method of Payment. The Purchase Price shall be paid by the cancellation of the Note by the Purchaser. 1.3 Settlement & Closing. The closing hereunder, including cancellation of the Note, shall occur at the office of the Seller, or at such other time and place as the parties may mutually agree. At closing, Seller shall deliver or cause to be delivered to Purchaser stock certificates endorsed in blank or accompanied by duly endorsed stock powers, the aggregate of such certificates representing the stock of the company and all other instruments and Purchaser shall deliver the Note. Section 2. Representations. (a) In connection with the purchase of the Shares, Purchaser agrees (i) to assume and be bound by any and all restrictions and obligations with respect to the Shares, whatever those may be and (ii) that at any time and from time to time Purchaser will promptly execute and deliver such further instruments and documents and take such further action as may be reasonably required in order to carry out the full intent and purpose of this Agreement. (b) In connection with the sale of the Shares, Seller represents to the Purchaser that it has full power and authority to sell, assign and transfer the Shares to the Purchaser, free and clear of all liens, claims, and encumbrances and that the Shares are not subject to any adverse claim. Section 3. Miscellaneous. (a) Notices. All notices required or permitted hereunder shall be in writing and shall be deemed effectively given: (a) upon personal delivery to the party to be notified, (b) when sent by confirmed telex or facsimile if sent during normal business hours of the recipient, and if not during normal business hours of the recipient, then on the next business day, (c) five (5) calendar days after having been sent by registered or certified mail, return receipt requested, postage prepaid, or (d) one (1) business day after deposit with a nationally recognized overnight courier, specifying next day delivery, with written verification of receipt. All communications shall be sent to the other party hereto at such party's address hereinafter set forth on the signature page hereof, or at such other address as such party may designate by ten (10) days advance written notice to the other party hereto. (b) Governing Law; Venue. This Agreement shall be governed by and construed in accordance with the laws of the State of Minnesota. The parties agree that any action brought by either party to interpret or enforce any provision of this Agreement shall be brought in, and each party agrees to, and does hereby, submit to the jurisdiction and venue of, the appropriate state or federal court for the district encompassing the Sellers' principal place of business. (c) Entire Agreement; Amendment. This Agreement constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes and merges all prior agreements or understandings, whether written or oral. This Agreement may not be amended, modified or revoked, in whole or in part, except by an agreement in writing signed by each of the parties hereto. (d) Severability. If one or more provisions of this Agreement are held to be unenforceable under applicable law, the parties agree to renegotiate such provision in good faith. In the event that the parties cannot reach a mutually agreeable and enforceable replacement 2. for such provision, then (i) such provision shall be excluded from this Agreement, (ii) the balance of the Agreement shall be interpreted as if such provision were so excluded and (iii) the balance of the Agreement shall be enforceable in accordance with its terms. (e) Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original and all of which together shall constitute one instrument. IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first above written SELLER: /s/ John P. Whaley John P. Whaley Address: 1978 Summit Avenue St. Paul, MN 55105 PURCHASER: NORWEST EQUITY PARTNERS IV, L.P. By: ITASCA PARTNERS, LLP By /s/ John E. Lindahl John E. Lindahl Title: Managing Partner Address: 3600 IDS Center, 80 S. 8/th/ Street Minneapolis, MN 55402 3. -----END PRIVACY-ENHANCED MESSAGE-----