-----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, GvoFRM/h2ifUDN6Jg58/83nv8XXqX3D4659gLHzZtgnHFYA7ceMLTpe21gELxVYv 7sKgKBK+4yvCeVX7MButow== 0000935836-98-000061.txt : 19980304 0000935836-98-000061.hdr.sgml : 19980304 ACCESSION NUMBER: 0000935836-98-000061 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19980303 SROS: NASD SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: VISIBLE GENETICS INC CENTRAL INDEX KEY: 0001010819 STANDARD INDUSTRIAL CLASSIFICATION: LABORATORY ANALYTICAL INSTRUMENTS [3826] IRS NUMBER: 000000000 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D SEC ACT: SEC FILE NUMBER: 005-49801 FILM NUMBER: 98556438 BUSINESS ADDRESS: STREET 1: 700 BAY ST STREET 2: SUITE 1000 CITY: TORONTO ONTARIO CANA STATE: A6 BUSINESS PHONE: 2127025700 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. *) Visible Genetics Inc. (Name of Issuer) Common Stock - --------------------------------------------------------------------------- (Title of Class of Securities) 92829S104 (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) October 2, 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. 92829S104 Page 2 of 9 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 317,200 REPORTING -------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH 0 -------------------------------------------------- 10 SHARED DISPOSITIVE POWER 317,200 - --------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 317,200 - --------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - --------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 4.4% - --------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* PN CUSIP No. 92829S104 Page 3 of 9 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 317,200 REPORTING -------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH 0 -------------------------------------------------- 10 SHARED DISPOSITIVE POWER 317,200 - --------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 317,200 - --------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - --------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 4.4% - --------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IA 00 CUSIP No. 92829S104 Page 4 of 9 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 317,200 REPORTING -------------------------------------------------- PERSON 9 SOLE DISPOSITIVE POWER WITH 0 -------------------------------------------------- 10 SHARED DISPOSITIVE POWER 317,200 - --------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 317,200 - --------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / / - --------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 4.4% - --------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IN CUSIP No. 92829S104 Page 5 of 9 Pages ITEM 1. SECURITY AND ISSUER. This statement relates to shares of Common Stock (the "Stock") of Visible Genetics Inc. ("Visible"). The principal executive office of Visible is located at 700 Bay Street, Suite 1000, Toronto, ON, Canada, M5G1Z6. 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") and Spinnaker Founders Fund, L.P., a Delaware limited partnership ("Spinnaker"). (b) The business address of LLC, Bowman and Spinnaker 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, an investment limited partnership. (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. 92829S104 Page 6 of 9 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 $2,524,990 (1) Spinnaker Working Capital $2,524,990 (1) This amount represents purchases of the Stock for Spinnaker. ITEM 4. PURPOSE OF TRANSACTION. The principal purpose of the acquisition of the Stock is investment. Although the persons named in Item 2 hereof may acquire or dispose of additional securities of Visible, they have no current plans or proposals that relate to or would result in: (a) An extraordinary corporate transaction, such as a merger, reorganization or liquidation, involving Visible or any of its subsidiaries; (b) A sale or transfer of a material amount of assets of Visible or of any of its subsidiaries; (c) Any change in the present board of directors or management of Visible, including any plans or proposals to change the number or term of directors or to fill any existing vacancies on the board; (d) Any material change in the present capitalization or dividend policy of Visible; (e) Any other material change in Visible's business or corporate structure; (f) Changes in Visible's charter, by-laws or instruments corresponding thereto or other actions which may impede the acquisition of control of Visible by any person; (g) Causing a class of securities of Visible 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; (h) A class of equity securities of Visible becoming eligible for termination of registration pursuant to Section 12(g)(4) of the Act; or (i) Any action similar to any of those enumerated above. CUSIP No. 92829S104 Page 7 of 9 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 317,200 4.4% 0 317,200 0 317,200 LLC 317,200 4.4% 0 317,200 0 317,200 Spinnaker 317,200 4.4% 0 317,200 0 317,200 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 August 3, 1997: Purchase Number Price Name or Sale Date of Shares Per Share Spinnaker S 8/05/97 4,000 6.937500 Spinnaker S 8/05/97 10,000 6.562500 Spinnaker P 9/23/97 10,000 8.500000 Spinnaker P 9/23/97 75,000 8.406300 Spinnaker P 9/24/97 100,000 9.631300 Spinnaker P 9/29/97 40,000 9.562500 Spinnaker P 10/06/97 25,000 12.375000 Spinnaker S 1/23/98 5,000 7.175000 Spinnaker S 1/23/98 20,000 7.140600 Spinnaker S 1/26/98 25,000 6.757500 Spinnaker S 1/27/98 25,000 6.306000 All purchases and sales were executed as open market transactions. CUSIP No. 92829S104 Page 8 of 9 Pages ITEM. 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER. LLC serves as General Partner to Spinnaker pursuant to a Limited Partnership Agreement which provides LLC with the authority to purchase, vote and dispose of securities for Spinnaker. 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. 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 Founders 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 CUSIP No. 92829S104 Page 9 of 9 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 Visible Genetics 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 Founders 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 C:\DMS\4910\002\0252381.01 -----END PRIVACY-ENHANCED MESSAGE-----