-----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, TCk2mpQG1rln5roYC4ypKqMuZA7ksMV4u69HqC6Ng3Y5Wf4qbP1fxjDLWJjLZFLV aIRnTGFLT+w6/f9GtzrmzQ== 0000903893-97-000225.txt : 19970221 0000903893-97-000225.hdr.sgml : 19970221 ACCESSION NUMBER: 0000903893-97-000225 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 19970211 SROS: NONE GROUP MEMBERS: EDWIN SNAPE GROUP MEMBERS: GERALD B. BAY GROUP MEMBERS: JOHN F. TOMLIN GROUP MEMBERS: ROBERT P. CUMMINS GROUP MEMBERS: VISTA III L P GROUP MEMBERS: VISTA III PARTNERS, L.P. SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: CYBERONICS INC CENTRAL INDEX KEY: 0000864683 STANDARD INDUSTRIAL CLASSIFICATION: ELECTROMEDICAL & ELECTROTHERAPEUTIC APPARATUS [3845] IRS NUMBER: 760236465 STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: SC 13G SEC ACT: 1934 Act SEC FILE NUMBER: 005-45039 FILM NUMBER: 97524988 BUSINESS ADDRESS: STREET 1: 17448 HGHWY 3 STE 100 CITY: WEBSTER STATE: TX ZIP: 77598 BUSINESS PHONE: 7133321375 MAIL ADDRESS: STREET 1: 17448 HIGHWAY 3 STREET 2: SUITE 100 CITY: WEGSTER STATE: TX ZIP: 77598-4135 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: VISTA III L P CENTRAL INDEX KEY: 0000801398 STANDARD INDUSTRIAL CLASSIFICATION: [] IRS NUMBER: 061172794 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: C/O PALMERI FUND ADMINISTRATORS INC STREET 2: 700 GODWIN AVENUE SUITE 110 CITY: MIDLAND PARK STATE: NJ ZIP: 07432 BUSINESS PHONE: 2016120100 MAIL ADDRESS: STREET 1: C/O PALMERI FUND ADMINISTRATORS INC STREET 2: 700 GODWIN AVENUE, SUITE 110 CITY: MIDLAND PARK STATE: NJ ZIP: 07432 SC 13G 1 SCHEDULE 13G OMB APPROVAL OMB Number: 3235-0145 Expires: December 31, 1997 Estimated average burden hours per response . . .14.90 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No.__________ )* Cyberonics, Inc. - -------------------------------------------------------------------------------- (Name of Issuer) Common Stock, $.01 par value - -------------------------------------------------------------------------------- (Title of Class of Securities) 00023251P1 --------------------------------- (CUSIP Number) *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 in 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). SEC 1745 (2/92) Page 1 of 14 Pages - -------------------------------------------------------------------------------- CUSIP No. 00023251P1 13G Page 2 of 14 Pages --------------- - -------------------------------------------------------------------------------- - ------ ------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Vista III, L.P. 06-1172794 - ------ ------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] N/A (b) [ ] - ------ ------------------------------------------------------------------------- 3 SEC USE ONLY - ------ ------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - ----------------------- ----- -------------------------------------------------- 5 SOLE VOTING POWER -0- shares NUMBER OF ----- -------------------------------------------------- SHARES 6 SHARED VOTING POWER BENEFICIALLY OWNED BY 1,573,204 shares ----- -------------------------------------------------- EACH 7 SOLE DISPOSITIVE POWER REPORTING PERSON -0- shares ----- -------------------------------------------------- WITH 8 SHARED DISPOSITIVE POWER 1,573,204 shares - ------ ------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,573,204 shares - ------ ------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ] - ------ ------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 13.4% - ------ ------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON * PN - ------ ------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! Page 2 of 14 Pages - -------------------------------------------------------------------------------- CUSIP No. 00023251P1 13G Page 3 of 14 Pages --------------- - -------------------------------------------------------------------------------- - ------ ------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Vista III Partners, L.P. 06-1172793 - ------ ------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] N/A (b) [ ] - ------ ------------------------------------------------------------------------- 3 SEC USE ONLY - ------ ------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - ----------------------- ----- -------------------------------------------------- 5 SOLE VOTING POWER -0- shares NUMBER OF ----- -------------------------------------------------- SHARES 6 SHARED VOTING POWER BENEFICIALLY OWNED BY 1,573,204 shares ----- -------------------------------------------------- EACH 7 SOLE DISPOSITIVE POWER REPORTING PERSON -0- shares ----- -------------------------------------------------- WITH 8 SHARED DISPOSITIVE POWER 1,573,204 shares - ------ ------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,573,204 shares - ------ ------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ] - ------ ------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 13.4% - ------ ------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON * PN - ------ ------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! Page 3 of 14 Pages - -------------------------------------------------------------------------------- CUSIP No. 00023251P1 13G Page 4 of 14 Pages --------------- - -------------------------------------------------------------------------------- - ------ ------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Gerald B. Bay ###-##-#### - ------ ------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] N/A (b) [ ] - ------ ------------------------------------------------------------------------- 3 SEC USE ONLY - ------ ------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION United States - ----------------------- ----- -------------------------------------------------- 5 SOLE VOTING POWER -0- shares NUMBER OF ----- -------------------------------------------------- SHARES 6 SHARED VOTING POWER BENEFICIALLY OWNED BY 1,573,204 shares ----- -------------------------------------------------- EACH 7 SOLE DISPOSITIVE POWER REPORTING PERSON -0- shares ----- -------------------------------------------------- WITH 8 SHARED DISPOSITIVE POWER 1,573,204 shares - ------ ------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,573,204 shares - ------ ------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ] - ------ ------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 13.4% - ------ ------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON * IN - ------ ------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! Page 4 of 14 Pages - -------------------------------------------------------------------------------- CUSIP No. 00023251P1 13G Page 5 of 14 Pages --------------- - -------------------------------------------------------------------------------- - ------ ------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Edwin Snape ###-##-#### - ------ ------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] N/A (b) [ ] - ------ ------------------------------------------------------------------------- 3 SEC USE ONLY - ------ ------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION United States - ------ ------------------------------------------------------------------------- 5 SOLE VOTING POWER -0- shares NUMBER OF ----- -------------------------------------------------- SHARES 6 SHARED VOTING POWER BENEFICIALLY OWNED BY 1,573,204 shares ----- -------------------------------------------------- EACH 7 SOLE DISPOSITIVE POWER REPORTING PERSON -0- shares ----- -------------------------------------------------- WITH 8 SHARED DISPOSITIVE POWER 1,573,204 shares - ----------------------- ----- -------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,573,204 shares - ------ ------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ] - ------ ------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 13.4% - ------ ------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON * IN - ------ ------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! Page 5 of 14 Pages - -------------------------------------------------------------------------------- CUSIP No. 00023251P1 13G Page 6 of 14 Pages --------------- - -------------------------------------------------------------------------------- - ------ ------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON John F. Tomlin ###-##-#### - ------ ------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] N/A (b) [ ] - ------ ------------------------------------------------------------------------- 3 SEC USE ONLY - ------ ------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION United States - ----------------------- ----- -------------------------------------------------- 5 SOLE VOTING POWER -0- shares NUMBER OF ----- -------------------------------------------------- SHARES 6 SHARED VOTING POWER BENEFICIALLY OWNED BY 1,573,204 shares ----- -------------------------------------------------- EACH 7 SOLE DISPOSITIVE POWER REPORTING PERSON -0- shares ----- -------------------------------------------------- WITH 8 SHARED DISPOSITIVE POWER 1,573,204 shares - ------ ------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,573,204 shares - ------ ------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ] - ------ ------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 13.4% - ------ ------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON * IN - ------ ------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! Page 6 of 14 Pages - -------------------------------------------------------------------------------- CUSIP No. 00023251P1 13G Page 7 of 14 Pages --------------- - -------------------------------------------------------------------------------- - ------ ------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Robert P. Cummins ###-##-#### - ------ ------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] N/A (b) [ ] - ------ ------------------------------------------------------------------------- 3 SEC USE ONLY - ------ ------------------------------------------------------------------------- 4 CITIZENSHIP OR PLACE OF ORGANIZATION United States - ----------------------- ----- -------------------------------------------------- 5 SOLE VOTING POWER -0- shares NUMBER OF ----- -------------------------------------------------- SHARES 6 SHARED VOTING POWER BENEFICIALLY OWNED BY 1,573,204 shares ----- -------------------------------------------------- EACH 7 SOLE DISPOSITIVE POWER REPORTING PERSON -0- shares ----- -------------------------------------------------- WITH 8 SHARED DISPOSITIVE POWER 1,573,204 shares - ------ ------------------------------------------------------------------------- 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,573,204 shares - ------ ------------------------------------------------------------------------- 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ] - ------ ------------------------------------------------------------------------- 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 13.4% - ------ ------------------------------------------------------------------------- 12 TYPE OF REPORTING PERSON * IN - ------ ------------------------------------------------------------------------- *SEE INSTRUCTIONS BEFORE FILLING OUT! Page 7 of 14 Pages Schedule 13G ------------ Item 1(a). Name of Issuer: Cyberonics, Inc. Item 1(b). Address of Issuer's Principal Executive Offices: 17448 Highway 3, Suite 100, Webster, TX 77598. Item 2(a). Names of Persons Filing: Vista III, L.P. ("Vista III"), Vista III Partners, L.P., the sole general partner of Vista III ("Vista III Partners"), and Gerald B. Bay, Edwin Snape, John F. Tomlin and Robert P. Cummins, the general partners of Vista III Partners (the "Investing General Partners"). Item 2(b). Address of Principal Business Office or, if None, Residence: The address of the principal business office of Vista III, Vista III Partners and the Investing General Partners is The Vista Group, c/o Palmeri Fund Administrators, Inc., 700 Godwin Avenue, Suite 110, Midland Park, NJ 07432. Item 2(c). Citizenship: Each of Vista III and Vista III Partners is a limited partnership organized under the laws of the State of Delaware. The Investing General Partners are each citizens of the United States. Item 2(d). Title of Class of Securities: Common Stock, $.01 par value per share. Item 2(e). CUSIP Number: 00023251P1 Item 3. If this statement is filed pursuant to Rules 13d-1(b), or 13d-2(b), check whether the person filing is a: (a) [ ] Broker or Dealer registered under Section 15 of the Securities Exchange Act of 1934 (the "Act"). (b) [ ] Bank as defined in Section 3(a)(6) of the Act. (c) [ ] Insurance Company as defined in Section 3(a)(19) of the Act. (d) [ ] Investment Company registered under Section 8 of the Investment Company Act of 1940. (e) [ ] Investment Adviser registered under Section 203 of the Investment Advisers Act of 1940. (f) [ ] Employee Benefit Plan, Pension Fund which is subject to the provisions of the Employee Retirement Income Security Act of 1974 or Endowment Fund; see Rule 13d-1(b)(1)(ii)(F) of the Act. Page 8 of 14 Pages (g) [ ] Parent Holding Company, in accordance with Rule 13d-1(b)(ii)(G) of the Act. (h) [ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(H) of the Act. Not Applicable. Item 4. Ownership. (a) Amount Beneficially Owned: Vista III, Vista III Partners and the Investing General Partners may be deemed to beneficially own 1,573,204 shares of Common Stock as of December 31, 1996. Vista III is the record owner of 1,573,204 shares of Common Stock (the "Shares") and Vista III has the power to vote or direct the disposition of all of the Shares. Such power is exercised through Vista III Partners, as the sole general partner of Vista III. As general partner of Vista III, Vista III Partners may be deemed to beneficially own the Shares. The Investing General Partners have the power over all the voting and investment decisions of Vista III Partners and, as such, the Investing General Partners may also be deemed to share the beneficial ownership of the Shares. Each of the Investing General Partners and Vista III Partners expressly disclaims beneficial ownership of the Shares. (b) Percent of Class: The Shares represent 13.4% of the outstanding Common Stock (based on 11,762,542 shares of Common Stock reported as outstanding as of December 31, 1996, as confirmed by the Issuer's Chief Financial Officer). (c) Number of shares as to which such person has: (i) sole power to vote or to direct the vote: -0- shares for each reporting person. (ii) shared power to vote or to direct the vote: Vista III, Vista III Partners and the Investing General Partners each have the shared power to vote or to direct the vote of 1,573,204 shares. (iii) sole power to dispose or to direct the dispositions of: -0- shares for each reporting person. (iv) shared power to dispose or to direct the disposition of: Vista III, Vista III Partners and the Investing General Partners each have the shared power to dispose or to direct the disposition of 1,573,204 shares. Each of the Investing General Partners and Vista III Partners expressly disclaims beneficial ownership of the Shares. Page 9 of 14 Pages Item 5. Ownership of Five Percent or Less of a Class. Not Applicable. Item 6. Ownership of More than Five Percent on Behalf of Another Person. Not Applicable. Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company. Not Applicable. Item 8. Identification and Classification of Members of the Group. Not Applicable. The reporting persons expressly disclaim membership in a "group" as defined in Rule 13d-1(b)(ii)(H). Item 9. Notice of Dissolution of Group. Not Applicable. Item 10. Certification. Not Applicable. This statement on Schedule 13G is not filed pursuant to Rule 13d-1(b). Page 10 of 14 Pages SIGNATURE After reasonable inquiry and to the best of our knowledge and belief, we certify that the information set forth in this statement is true, complete and correct. We also hereby agree to file this statement jointly pursuant to the Agreement listed on Exhibit 1 hereto. Date: February 12, 1997 Vista III, L.P. By: Vista III Partners, L.P. By: * ------------------------- General Partner Vista III Partners, L.P. By: * ------------------------- General Partner * ------------------------- Gerald B. Bay * ------------------------- Edwin Snape * ------------------------- John F. Tomlin * ------------------------- Robert P. Cummins * The undersigned attorney-in-fact, by signing his name below, does hereby sign this statement on behalf of the above indicated filers pursuant to Powers of Attorney filed hereto as Exhibit 2. /s/ Frank Palmeri - ---------------------------- Frank Palmeri Attorney-in-fact Page 11 of 14 Pages EXHIBIT 1 --------- AGREEMENT Pursuant to Rule 23d-1(f)(1) under the Securities Exchange Act of 1934, the undersigned hereby agree that only one statement containing the information required by Schedule 13G need be filed with respect to the ownership by each of the undersigned of shares of Common Stock of Cyberonics, Inc. This agreement may be executed in any number of counterparts, each of which shall be deemed an original. EXECUTED this 12th day of February, 1997. Vista III, L.P. By: Vista III Partners, L.P. By * --------------------------- General Partner Vista III Partners, L.P. By: * --------------------------- General Partner * --------------------------- Gerald B. Bay * --------------------------- Edwin Snape * --------------------------- John F. Tomlin * --------------------------- Robert P. Cummins * The undersigned attorney-in-fact, by signing his name below, does hereby sign this statement on behalf of the above indicated filers pursuant to Powers of Attorney filed hereto as Exhibit 2. /s/ Frank Palmeri - ------------------------------ Frank Palmeri Attorney-in-fact PARA8379/1.314884_1 Page 12 of 14 Pages EX-2 2 POWER OF ATTORNEY Exhibit 2 --------- POWER OF ATTORNEY KNOW ALL MEN BY THESE PRESENTS, that each person whose signature appears below hereby constitutes and appoints Frank Palmeri of Palmeri Fund Administrators his true and lawful attorney-in-fact and agent, with full power of substitution and resubstitution, for him and in his name, place and stead, in any and all capacities (until revoked in writing) to sign any and all instruments, certificates and documents required to be executed on behalf of himself individually or on behalf of each or any of Vista II, L.P., Vista Partners, L.P., Vista III, L.P., or Vista III Partners, L.P. pursuant to Section 13 and Section 16 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and any and all regulations promulgated thereunder, and to file the same, with all exhibits thereto, and any other documents in connection therewith, with the Securities and Exchange Commission, and with any other entity when and if such is mandated by the Exchange Act or by the By-laws of the National Association of Securities Dealers, Inc., granting unto said attorney-in-fact and agent full power and authority to do and perform each and every act and thing requisite and necessary fully to all intents and purposes as he might or could do in person thereby and ratifying and confirming all that said attorney-in-fact and agent, or his substitute or substitutes, may lawfully do or cause to be done by virtue hereof, or may have done in connection with the matters described above. [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] Page 13 of 14 Pages IN WITNESS WHEREOF, this Power of Attorney has been signed as of the ____ day of February, 1996. VISTA II, L.P. By: Vista Partners, L.P. By: /s/ Gerald B. Bay ------------------------------ Gerald B. Bay General Partner VISTA PARTNERS, L.P. By: /s/ Gerald B. Bay ------------------------------ Gerald B. Bay General Partner VISTA III, L.P. By: Vista III Partners, L.P. By: /s/ Gerald B. Bay ------------------------------ Gerald B. Bay General Partner VISTA III PARTNERS, L.P. By: /s/ Gerald B. Bay ------------------------------ Gerald B. Bay General Partner /s/ Edwin Snape - ------------------------------ Edwin Snape /s/ Gerald B. Bay - ------------------------------ Gerald B. Bay /s/ John F. Tomlin - ------------------------------ John F. Tomlin Page 14 of 14 Pages -----END PRIVACY-ENHANCED MESSAGE-----