-----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, LrCKXz2pNIKuwgruxnL784vm39iBQTHPsxT4xEHGXwj16IoHSJgkfkrm9hcGSuUD /+8dc4+invD08u+nPzx02Q== 0000935836-98-000060.txt : 19980304 0000935836-98-000060.hdr.sgml : 19980304 ACCESSION NUMBER: 0000935836-98-000060 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19980303 SROS: NASD SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: BELL MICROPRODUCTS INC CENTRAL INDEX KEY: 0000900708 STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-ELECTRONIC PARTS & EQUIPMENT, NEC [5065] IRS NUMBER: 943057566 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D SEC ACT: SEC FILE NUMBER: 005-43709 FILM NUMBER: 98556437 BUSINESS ADDRESS: STREET 1: 1941 RINGWOOD AVE CITY: SAN JOSE STATE: CA ZIP: 95131 BUSINESS PHONE: 4084519400 MAIL ADDRESS: STREET 1: 1941 RINOWOOD AVENUE CITY: SAN JOSE STATE: CA ZIP: 95131-1721 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: BOWMAN CAPITAL MANAGEMENT L L C CENTRAL INDEX KEY: 0001056543 STANDARD INDUSTRIAL CLASSIFICATION: [] STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: 1875 SOUTH GRANT STREET STREET 2: SUITE 600 CITY: SAN MATEO STATE: CA ZIP: 94402 BUSINESS PHONE: 6502872200 MAIL ADDRESS: STREET 1: 1875 S GRANT ST SUITE 600 CITY: SAN MATEO STATE: CA ZIP: 94402 SC 13D 1 OMB APPROVAL OMB Number:3235-0145 Expires: August 31, 1999 Estimated average burden hours per form 14.90 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. *) Bell Microproducts Inc. (Name of Issuer) Common Stock - --------------------------------------------------------------------------- (Title of Class of Securities) 078137106 (CUSIP Number) Eric M. Sippel, Esq. Shartsis Friese & Ginsburg LLP One Maritime Plaza, 18th Floor San Francisco, CA 94111 (415) 421-6500 - --------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) September 19, 1997 (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 schedule because of Rule 13d-1(b)(3) or (4), check the following box / /. Note: Six copies of this statement, including all exhibits, should be filed with the Commission. See Rule 13d-1(a) 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). Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. SEC 1746 (10-97) CUSIP No. 078137106 Page 2 of 11 Pages - --------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON Spinnaker Technology Fund, L.P. - --------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X/ (b) / / - --------------------------------------------------------------------------- 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) / / - --------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - --------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES 0 BENEFICIALLY -------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH 438,000 REPORTING -------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH 0 -------------------------------------------------- 10 SHARED DISPOSITIVE POWER 438,000 - --------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 438,000 - --------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - --------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.1% - --------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* PN CUSIP No. 078137106 Page 3 of 11 Pages - --------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON Spinnaker Founders Fund, L.P. - --------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X/ (b) / / - --------------------------------------------------------------------------- 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) / / - --------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - --------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES 0 BENEFICIALLY -------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH 0 REPORTING -------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH 0 -------------------------------------------------- 10 SHARED DISPOSITIVE POWER 0 - --------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 0 - --------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - --------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.0% - --------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* PN CUSIP No. 078137106 Page 4 of 11 Pages - --------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON Bowman Capital Management, L.L.C. - --------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X/ (b) / / - --------------------------------------------------------------------------- 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) / / - --------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - --------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES 0 BENEFICIALLY -------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH 861,000 REPORTING -------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH 0 -------------------------------------------------- 10 SHARED DISPOSITIVE POWER 861,000 - --------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 861,000 - --------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - --------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 10% - --------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IA 00 CUSIP No. 078137106 Page 5 of 11 Pages - --------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON Lawrence A. Bowman - --------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /X/ (b) / / - --------------------------------------------------------------------------- 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) / / - --------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION United States - --------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES 0 BENEFICIALLY -------------------------------------------------- OWNED BY 8 SHARED VOTING POWER EACH 861,000 REPORTING -------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH 0 -------------------------------------------------- 10 SHARED DISPOSITIVE POWER 861,000 - --------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 861,000 - --------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - --------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 10% - --------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IN CUSIP No. 078137106 Page 6 of 11 Pages ITEM 1. SECURITY AND ISSUER. This statement relates to shares of Common Stock (the "Stock") of Bell Microproducts Inc. ("Bell"). The principal executive office of Bell is located at 1941 Ringwood Avenue, San Jose, California 95131-1721. ITEM 2. IDENTITY AND BACKGROUND. The persons filing this statement and the persons enumerated in Instruction C of Schedule 13D and, where applicable, their respective places of organization, general partners, directors, executive officers and controlling persons, and the information regarding them, are as follows: (a) The persons filing this statement are Bowman Capital Management, L.L.C. ("LLC"), Lawrence A. Bowman ("Bowman"), Spinnaker Founders Fund, L.P., a Delaware limited partnership ("Spinnaker Founders") and Spinnaker Technology Fund, L.P., a Delaware limited partnership ("Spinnaker Tech"). (b) The business address of LLC, Bowman, Spinnaker Founders and Spinnaker Tech is 1875 South Grant Street, Suite 600, San Mateo, California 94402. (c) Bowman is the manager and principal member of the LLC which serves as the investment adviser to, and the general partner of, Spinnaker Tech and Spinnaker Founders, investment limited partnerships. (d) During the last five years, none of such persons has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors). (e) During the last five years, none of such persons was a 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) Bowman is a citizen of the United States of America. CUSIP No. 078137106 Page 7 of 11 Pages ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION. The source and amount of funds used in purchasing the Stock were as follows: Purchaser Source of Funds Amount LLC Affiliate $7,158,213 (1) Spinnaker Tech Working Capital $3,582,099 Spinnaker Founders Working Capital $ -0- (1) This amount represents purchases of the Stock for Spinnaker Tech and Spinnaker Founders and for separate account clients of the LLC. ITEM 4. PURPOSE OF TRANSACTION. The principal purpose of the acquisition of the Stock is investment. Although the persons named in Item 2 of this statement may dispose of additional securities of Bell, such persons have no current plans or proposals that relate to or would result in: (a) The acquisition by any person of additional securities of Bell; (b) An extraordinary corporate transaction, such as a merger, reorganization or liquidation, involving Bell or any of its subsidiaries; (c) A sale or transfer of a material amount of assets of Bell or of any of its subsidiaries; (d) Any change in the present board of directors or management of Bell, including any plans or proposals to change the number or term of directors or to fill any existing vacancies on the board; (e) Any material change in the present capitalization or dividend policy of Bell; (f) Any other material change in Bell's business or corporate structure; (g) Changes in Bell's charter, by-laws or instruments corresponding thereto or other actions which may impede the acquisition of control of Bell by any person; (h) Causing a class of securities of Bell to be delisted from a national securities exchange or to cease to be authorized to be quoted in an inter-dealer quotation system of a registered national securities association; (i) A class of equity securities of Bell becoming eligible for termination of registration pursuant to Section 12(g)(4) of the Act; or (j) Any action similar to any of those enumerated above. CUSIP No. 078137106 Page 8 of 11 Pages ITEM 5. INTEREST IN SECURITIES OF THE ISSUER. The beneficial ownership of the Stock of the persons named in Item 2 of this statement is as follows at the date hereof: Aggregate Beneficially Owned Voting Power Dispositive Power Name Number Percent Sole Shared Sole Shared Bowman 861,000 10% 0 861,000 0 861,000 LLC 861,000 10% 0 861,000 0 861,000 Spinnaker Tech 438,000 5.1% 0 438,000 0 438,000 Spinnaker Founders 0 0.0% 0 0 0 0 The persons filing this statement effected the following transactions in the Stock on the dates indicated, and such transactions are the only transactions in the Stock by the persons filing this statement since July 21, 1997: Purchase Number Price Name or Sale Date of Shares Per Share Spinnaker Tech P 8/07/97 7,000 9.925000 Spinnaker Tech P 8/07/97 33,000 9.830300 Spinnaker Tech P 12/30/97 107,200 7.625000 Spinnaker Tech P 12/31/97 108,000 7.875000 Spinnaker Tech P 12/31/97 6,000 7.934800 Spinnaker Tech S 1/16/98 7,000 7.187500 LLC P 8/07/97 5,500 9.825000 LLC P 8/07/97 30,000 9.830300 LLC P 9/09/97 1,500 9.500000 Spinnaker Founders P 9/09/97 40,000 9.500000 Spinnaker Founders P 9/12/97 6,000 9.583300 Spinnaker Founders P 9/12/97 25,000 9.375000 Spinnaker Founders P 9/16/97 20,000 9.909700 Spinnaker Founders P 9/16/97 40,000 9.992200 Spinnaker Founders P 9/17/97 15,000 10.000000 Spinnaker Founders P 9/18/97 6,000 10.375000 Spinnaker Founders P 9/18/97 16,000 10.351500 Spinnaker Founders P 9/19/97 23,000 10.358700 Spinnaker Founders P 9/22/97 7,500 10.500000 Spinnaker Founders P 9/30/97 30,000 10.916700 Spinnaker Founders P 10/07/97 50,000 11.237500 Spinnaker Founders P 11/18/97 100,000 9.125000 LLC P 11/28/97 20,000 8.625000 Spinnaker Founders P 12/19/97 45,000 7.180600 CUSIP No. 078137106 Page 9 of 11 Pages Purchase Number Price Name or Sale Date of Shares Per Share Spinnaker Founders S 12/30/97 212,000 7.625000 LLC P 12/30/97 104,800 7.625000 LLC P 12/31/97 103,500 7.875000 LLC P 12/31/97 5,500 7.934800 Spinnaker Founders S 12/31/97 211,500 7.875000 LLC S 1/16/98 4,000 7.182500 All purchases and sales were executed as open market transactions. ITEM. 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER. LLC serves as General Partner to Spinnaker Tech and Spinnaker Founders pursuant to Limited Partnership Agreements which provide LLC with the authority to purchase, vote and dispose of securities for Spinnaker Tech and Spinnaker Founders. LLC is entitled to fees based on assets under management and special profit allocations based on realized and unrealized gains and losses, if certain conditions are met. Pursuant to Investment Management Agreements, LLC is authorized, among other things, to invest funds of its various investment advisory clients and to vote and dispose of those securities. Such investment management agreements may be terminated by either party on notice as provided in such agreements and provide for fees payable to LLC based on assets under management and realized and unrealized gains. CUSIP No. 078137106 Page 10 of 11 Pages ITEM 7. MATERIAL TO BE FILED AS EXHIBITS. A. Agreement Regarding Joint Filing of Statement on Schedule 13D or 13G. SIGNATURES After reasonable inquiry and to the best of my knowledge, I certify that the information set forth in this statement is true, complete and correct. DATED AS OF: February 17, 1998 Spinnaker Technology Fund, L.P. By: Bowman Capital Management, L.L.C., General Partner By: /s/ Lawrence A. Bowman Lawrence A. Bowman, Manager /s/ Lawrence A. Bowman Lawrence A. Bowman Bowman Capital Management, L.L.C. By: /s/ Lawrence A. Bowman Lawrence A. Bowman, Manager Spinnaker Founders Fund, L.P. By: Bowman Capital Management, L.L.C., General Partner By: /s/ Lawrence A. Bowman Lawrence A. Bowman, Manager CUSIP No. 078137106 Page 11 of 11 Pages EXHIBIT A AGREEMENT REGARDING JOINT FILING OF STATEMENT ON SCHEDULE 13D OR 13G The undersigned agree to file jointly with the Securities and Exchange Commission (the "SEC") any and all statements on Schedule 13D or Schedule 13G (and any amendments or supplements thereto) required under section 13(d) of the Securities Exchange Act of 1934, as amended, in connection with purchases by the undersigned of Common Stock of Bell Microproducts Inc. For that purpose, the undersigned hereby constitute and appoint Bowman Capital Management, L.L.C., a Delaware limited liability company, as their true and lawful agent and attorney-in-fact, with full power and authority for and on behalf of the undersigned to prepare or cause to be prepared, sign, file with the SEC and furnish to any other person all certificates, instruments, agreements and documents necessary to comply with section 13(d) and section 16(a) of the Securities Exchange Act of 1934, as amended, in connection with said purchases, and to do and perform every act necessary and proper to be done incident to the exercise of the foregoing power, as fully as the undersigned might or could do if personally present. DATED AS OF: February 17, 1998. Spinnaker Technology Fund, L.P. By: Bowman Capital Management, L.L.C., General Partner By: /s/ Lawrence A. Bowman Lawrence A. Bowman, Manager /s/ Lawrence A. Bowman Lawrence A. Bowman Bowman Capital Management, L.L.C. By: /s/ Lawrence A. Bowman Lawrence A. Bowman, Manager Spinnaker Founders Fund, L.P. By: Bowman Capital Management, L.L.C., General Partner By: /s/ Lawrence A. Bowman Lawrence A. Bowman, Manager C:\DMS\4910\001\0251463.03 -----END PRIVACY-ENHANCED MESSAGE-----