-----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, BNQ5Gm6+z6VMaJWSeWnxT1gZ/t4VeHZ4ugYFj+lDslBng7qNguqRnjwq5k0oKGVx CMrAXcP+896IFUIQ/2OfjA== 0000891618-99-003246.txt : 19990726 0000891618-99-003246.hdr.sgml : 19990726 ACCESSION NUMBER: 0000891618-99-003246 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19990723 GROUP MEMBERS: SINGAPORE TECHNOLOGIES PTE LTD GROUP MEMBERS: VERTEX INVESTMENTS INTERNATIONAL I INC. GROUP MEMBERS: VERTEX INVESTMENTS INTERNATIONAL III INC. GROUP MEMBERS: VERTEX TECHNOLOGY FUND (II), LTD GROUP MEMBERS: VERTEX TECHNOLOGY FUND PTE LTD SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: VERSANT CORP CENTRAL INDEX KEY: 0000865917 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PREPACKAGED SOFTWARE [7372] IRS NUMBER: 943079392 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: SEC FILE NUMBER: 005-48823 FILM NUMBER: 99668991 BUSINESS ADDRESS: STREET 1: 6539 DUMBARTON CIRCLE CITY: FREMONT STATE: CA ZIP: 94555 BUSINESS PHONE: 5107891500 MAIL ADDRESS: STREET 1: 6539 DUMBARTON CIRCLE CITY: FREMONT STATE: CA ZIP: 94555 FORMER COMPANY: FORMER CONFORMED NAME: VERSANT OBJECT TECHNOLOGY CORP DATE OF NAME CHANGE: 19960428 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: VERTEX TECHNOLOGY FUND PTE LTD CENTRAL INDEX KEY: 0001072617 STANDARD INDUSTRIAL CLASSIFICATION: [] IRS NUMBER: 000000000 STATE OF INCORPORATION: U0 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 77 SCIENCE PARK DR, #02-15 CINTECH III STREET 2: SINGAPORE SCIENCE PARK CITY: SINGAPORE 0511 STATE: U0 BUSINESS PHONE: 6505919300 MAIL ADDRESS: STREET 1: VERTEX MANAGEMENT INC STREET 2: 3 LAGOON DR STE 220 CITY: REDWOOD CITY STATE: CA ZIP: 94065 SC 13D/A 1 AMENDMENT TO SCHEDULE 13D 1 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13D/A UNDER THE SECURITIES EXCHANGE ACT OF 1934* Versant Corporation - -------------------------------------------------------------------------------- (Name of Issuer) Common Stock - -------------------------------------------------------------------------------- (Title of Class of Securities) 925284-10-1 - -------------------------------------------------------------------------------- (CUSIP Number) Joanna Chin Barry J. Kramer, Esq. Vertex Management, Inc. Fenwick & West LLP Three Lagoon Drive, Suite 220 Two Palo Alto Square Redwood City, CA 94065 Palo Alto, CA 94306 (650) 591-9300 (650) 494-0600 - -------------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) JULY 12, 1999 - -------------------------------------------------------------------------------- (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 [ ]. 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 (the "Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act. 2 SCHEDULE 13D/A CUSIP NO. 925284-10-1 --------------------------- - -------------------------------------------------------------------------------- NAMES OF REPORTING PERSONS 1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (Entities Only) VERTEX TECHNOLOGY FUND LTD. (FORMERLY VERTEX TECHNOLOGY FUND PTE. LTD.) - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [X] - -------------------------------------------------------------------------------- 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 SINGAPORE - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER NOT APPLICABLE OF -------------------------------------------------------- SHARES 8 SHARED VOTING POWER BENEFICIALLY 2,708,838(1) OWNED -------------------------------------------------------- BY 9 SOLE DISPOSITIVE POWER EACH NOT APPLICABLE REPORTING -------------------------------------------------------- PERSON 10 SHARED DISPOSITIVE POWER WITH 2,708,838(1) - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,708,838(1) - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 21.1%* - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON IV - -------------------------------------------------------------------------------- (1) Includes 1,805,892 shares of Common Stock issuable upon conversion of 902,946 shares of Series A Preferred Stock; as well as 902,946 shares of Common Stock issuable upon exercise of a five year Warrant with an exercise price of $2.13/share. * Note: the denominator for this fraction is 12,860,115 (i.e., 10,151,277 outstanding as of July 12, 1999 plus 2,708,838). 2 3 SCHEDULE 13D/A CUSIP NO. 925284-10-1 --------------------------- - -------------------------------------------------------------------------------- NAMES OF REPORTING PERSONS 1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (Entities Only) VERTEX INVESTMENTS INTERNATIONAL I INC. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [X] - -------------------------------------------------------------------------------- 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 British Virgin Islands - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER NOT APPLICABLE OF -------------------------------------------------------- SHARES 8 SHARED VOTING POWER BENEFICIALLY 100,000 OWNED -------------------------------------------------------- BY 9 SOLE DISPOSITIVE POWER EACH NOT APPLICABLE REPORTING -------------------------------------------------------- PERSON 10 SHARED DISPOSITIVE POWER WITH 100,000 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 100,000 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 1%* - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON IV - -------------------------------------------------------------------------------- * Note: the denominator for this fraction is: 10,151,277 (i.e., the shares of Common Stock outstanding as of July 12, 1999). 3 4 SCHEDULE 13D/A CUSIP NO. 925284-10-1 --------------------------- - -------------------------------------------------------------------------------- NAMES OF REPORTING PERSONS 1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (Entities Only) VERTEX INVESTMENTS INTERNATIONAL III INC. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [X] - -------------------------------------------------------------------------------- 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 BRITISH VIRGIN ISLANDS - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER NOT APPLICABLE OF -------------------------------------------------------- SHARES 8 SHARED VOTING POWER BENEFICIALLY 489,767 OWNED -------------------------------------------------------- BY 9 SOLE DISPOSITIVE POWER EACH NOT APPLICABLE REPORTING -------------------------------------------------------- PERSON 10 SHARED DISPOSITIVE POWER WITH 489,767 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 489,767 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 4.8%* - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON IV - -------------------------------------------------------------------------------- * Note: the denominator for this fraction is: 10,151,277 (i.e., the shares of Common Stock outstanding as of July 12, 1999). 4 5 SCHEDULE 13D/A CUSIP NO. 925284-10-1 --------------------------- - -------------------------------------------------------------------------------- NAMES OF REPORTING PERSONS 1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (Entities Only) VERTEX TECHNOLOGY FUND (II), LTD - -------------------------------------------------------------------------------- CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] 2 (b) [X] - -------------------------------------------------------------------------------- 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 SINGAPORE - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER NOT APPLICABLE OF -------------------------------------------------------- SHARES 8 SHARED VOTING POWER BENEFICIALLY 704,223* OWNED -------------------------------------------------------- BY 9 SOLE DISPOSITIVE POWER EACH NOT APPLICABLE REPORTING -------------------------------------------------------- PERSON 10 SHARED DISPOSITIVE POWER WITH 704,223* - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 704,223* - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 6.5%** - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON IV - -------------------------------------------------------------------------------- * Includes 469,482 shares of Common Stock issuable upon conversion of 234,741 shares of Series A Preferred Stock as well as 234,741 shares of Common Stock issuable upon exercise of a five year Warrant with an exercise price of $2.13/share. ** Note: the denominator for this fraction is: 10,855,500 (10,151,270 outstanding as of July 12, 1999 plus 704,223). 5 6 SCHEDULE 13D/A CUSIP NO. 925284-10-1 --------------------------- - -------------------------------------------------------------------------------- NAMES OF REPORTING PERSONS 1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (Entities Only) SINGAPORE TECHNOLOGIES PTE. LTD. - -------------------------------------------------------------------------------- CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] 2 (b) [X] - -------------------------------------------------------------------------------- 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 SINGAPORE - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER NOT APPLICABLE OF -------------------------------------------------------- SHARES 8 SHARED VOTING POWER BENEFICIALLY 4,002,828(1) OWNED -------------------------------------------------------- BY 9 SOLE DISPOSITIVE POWER EACH NOT APPLICABLE REPORTING -------------------------------------------------------- PERSON 10 SHARED DISPOSITIVE POWER WITH 4,002,828(1) - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON NONE - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0 - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON CO - -------------------------------------------------------------------------------- (1) Includes 2,275,374 shares of Common Stock issuable upon conversion of 1,137,687 shares of Series A Preferred Stock; as well as 1,137,687 shares of Common Stock issuable upon exercise of a five year Warrant with an exercise price of $2.13/share 6 7 ITEM 1. SECURITY AND ISSUER This statement relates to the issuance of 1,137,687 shares of Series A Preferred Stock and two Warrants to purchase 1,137,687 shares of Common Stock of Versant Corporation ("Issuer"). The 1,137,687 shares of Series A Preferred Stock are initially convertible into 2,275,374 shares of Common Stock (at an initial conversion price of $2.13/share). The warrants expire July 11, 2004 and have an exercise price of $2.13/share, subject to customary adjustments. Each share of Series A Preferred Stock votes on the same basis as one share of Common Stock. The principal executive offices of the Issuer are located at 6539 Dumbarton Circle, Fremont, California 94555. ITEM 2. IDENTITY AND BACKGROUND This statement is filed on behalf of (i) Vertex Technology Fund Ltd. (formerly Vertex Technology Fund Pte. Ltd.), a Singapore corporation ("VTF"); (ii) Vertex Investments International I Inc., a British Virgin Islands corporation ("VII(I)"); (iii) Vertex Investments International III Inc., a British Virgin Islands corporation ("VII(III)"); (iv) Vertex Technology Fund (II) Ltd., a Singapore corporation ("VTF(II)") and Singapore Technologies Pte. Ltd., a Singapore corporation ("ST"). Each of the foregoing is hereinafter individually referred to as a "Reporting Person" and collectively as the "Reporting Persons." VTF, VTF(II), VII(I), and VII(III) are investment funds. ST is a technology based multinational conglomerate providing research, development, manufacturing and management in engineering, technology, infrastructure, property and financial services. VTF, VTF(II), VII(I) and VII (III) are indirectly controlled by ST, which may direct voting or investment decisions made by those entities. Vertex Management Pte. Ltd., an affiliate of the Reporting Persons, holds 6,600 shares of Common Stock of Issuer not reflected elsewhere in this document. The Reporting Persons hereby disclaim beneficial ownership of such shares. The address of the Reporting Persons' principal business and their principal office is 77 Science Park Drive, #02-15, Cintech III, Singapore Science Park, Singapore 118256. The following is a list of the directors and executive officers of VTF:
PRESENT PRINCIPAL NAME AND BUSINESS ADDRESS OCCUPATION CITIZENSHIP - ------------------------- ---------- ----------- Mr. Tay Siew Choon Director, VTF Singaporean 391A Orchard Rd. Managing Director and Deputy #18-00 Ngee Ann City CEO, Sembcorp Industries Singapore 238873 Limited Mr. Lee Kheng Nam President, Vertex Group Singaporean 77 Science Park Drive Director, VTF #02-15 Cintech III Singapore Science Park Singapore 118256
7 8
PRESENT PRINCIPAL NAME AND BUSINESS ADDRESS OCCUPATION CITIZENSHIP - ------------------------- ---------- ----------- Pang Seow Lan Director, VTF Singaporean 77 Science Park Drive Senior Manager (Finance) #02-15 Cintech III Vertex Technology Fund Pte Singapore Science Park Ltd Singapore 118256 Isoo Tan Director, VTF Singaporean 77 Science Park Drive Company Secretary #02-15 Cintech III Vertex Technology Fund Pte Singapore Science Park Ltd Singapore 118256
The following is a list of directors and executive officers of VII (I):
PRESENT PRINCIPAL NAME AND BUSINESS ADDRESS OCCUPATION CITIZENSHIP - ------------------------- ---------- ----------- Lee Kheng Nam Director VII (I) Singaporean Vertex Management (II) Pte Ltd President, Vertex Group 77 Science Park Drive #02-15 Singapore Science Park Singapore 118256 Ho Soo Ching Director VII (I) Singaporean ST Capital Limited Managing Director 79 Robinson Road ST Capital Limited #22-00 CPF Building Singapore 068897
8 9 Ong Peck Choo (Ms.) Director, VII (I) Singaporean ST Capital Limited Senior Vice President 79 Robinson Road ST Capital #22-00 CPF Building Singapore 068897 Premod Paul Thomas Director, VII (I) Indian/Singapore Singapore Technologies Pte Ltd Director (Finance) Permanent Resident 51 Cuppage Road #09-01 Singapore Technologies Singapore 229489 Gan Chee Yen (Alternate Director to Director, VII (I) Singaporean Premod Paul Thomas) Group Financial Controller Singapore Technologies Pte Ltd Singapore Technologies 51 Cuppage Road #09-01 Singapore 229489
The following is a list of directors and executive officers of VII (III):
PRESENT PRINCIPAL NAME AND BUSINESS ADDRESS OCCUPATION CITIZENSHIP - ------------------------- ---------- ----------- Ho Soo Ching Director, VII (III) Singaporean ST Capital Limited Managing Director 79 Robinson Road ST Capital #22-00 CPF Building Singapore 068897 Ong Peck Choo (Ms) Director, VII (III) Singaporean ST Capital Limited Senior Vice President 79 Robinson Road ST Capital #22-00 CPF Building Singapore 068897 Premod Paul Thomas Director, VII (III) Indian/Singapore Singapore Technologies Pte Ltd Director (Finance) Permanent Resident 51 Cuppage Road #09-01 Singapore Technologies Singapore 229489 Gan Chee Yen (Alternate Director to Director, VII (III) Singaporean Premod Paul Thomas) Group Financial Controller Singapore Technologies Pte Ltd Singapore Technologies 51 Cuppage Road #09-01 Singapore 229489
The following is a list of the directors and executive officers of VTF(II): 9 10 BOARD OF DIRECTORS
PRESENT PRINCIPAL NAME AND BUSINESS ADDRESS OCCUPATION CITIZENSHIP - ------------------------- ---------- ----------- Mr. Tay Siew Choon Managing Director and Deputy Singaporean 391A Orchard Rd. CEO, Sembcorp Industries #18-00 Ngee Ann City Limited Singapore 238873 Mr. Lee Kheng Nam President, Vertex Group Singaporean 77 Science Park Drive #02-15 Cintech III Singapore Science Park Singapore 118256 Sum Soon Lim Consultant Singaporean 51 Cuppage Road, #10-11/17 Singapore 229469
EXECUTIVE OFFICERS
PRESENT PRINCIPAL NAME AND BUSINESS ADDRESS OCCUPATION CITIZENSHIP - ------------------------- ---------- ----------- Lee Kheng Nam President, Vertex Technology Singaporean 77 Science Park Drive Fund Pte Ltd #02-15 Cintech III Singapore Science Park Singapore 118256 Pang Seow Lan Senior Manager (Finance) Singaporean 77 Science Park Drive Vertex Technology Fund Pte #02-15 Cintech III Ltd Singapore Science Park Singapore 118256 Isoo Tan Company Secretary Singaporean 77 Science Park Drive Vertex Technology Fund Pte #02-15 Cintech III Ltd Singapore Science Park Singapore 118256
10 11 The following is a list of directors and executive officers of ST:
PRESENT PRINCIPAL NAME AND BUSINESS ADDRESS OCCUPATION CITIZENSHIP - ------------------------- ---------- ----------- Tay Siew Choon Director of ST Singaporean Sembcorp Industries Ltd CEO, Sembcorp Industries 391A Orchard Road #18-00 Ngee Ann City Singapore 238873 Lim Swee Say Director of ST Singaporean Trade Union House Deputy Secretary General Shenton Way National Trade Union Congress Singapore 068810 Chua Su Li Secretary of ST Singaporean Singapore Technologies Pte Ltd 51 Cuppage Road #09-01 Singapore 118258 Ms. Ho Ching President, Chief Executive Singaporean Singapore Technologies Pte Ltd Officer and Director of ST 51 Cuppage Road #09-01 Singapore 118258 Singaporean Peter Ho Hak Ean Director of ST Minder Building, Level 5 Permanent Secretary (Defense Gombak Drive Development Singapore 669838 Ministry of Defense) Wong Kok Siew Director of ST Singaporean 391A Orchard Road #18-00 President/CEO Ngee Ann City Sembcorp Industries Ltd. Singapore 238873 Peter Seah Lim Huat Director of ST Singaporean OUB Centre, 45th Storey President and CEO 1 Raffles Place Overseas Union Bank Limited Singapore 048616
11 12 Boon Swan Foo Director of ST Singaporean 51 Cuppage Rd. #09-08 President and CEO Singapore 229468 Singapore Technologies Engineering Ltd. Davinder Singh Director of ST Singaporean Drew & Naplar 20 Raffles Place #17-00 Ocean Towers Singapore 048620 Teo Ming Kian Chairman of the Board and, Singaporean Ministry of Communications Director of ST 480 Alexandra Rd. #99-00 Executive Chairman National PSA Building Science and Technology Board Singapore 119963
During the last five years, neither of the Reporting Persons nor, to the best of the Reporting Persons' knowledge, any person named in this Item 2 has been: (a) convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors); or (b) a party to a civil proceeding of a judicial or administrative body of competent jurisdiction as a result of which, he, she 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 violation with respect to such laws. ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION The consideration given in exchange for the shares of Common Stock and Series A Preferred Stock of Issuer was Reporting Persons' working capital. None of the funds consisted of funds or other consideration borrowed or otherwise obtained for the purpose of acquiring, holding, trading or voting the securities. ITEM 4. PURPOSE OF TRANSACTION All of the securities acquired by the Reporting Persons were acquired for investment purposes. Except as set forth below: (a) The Reporting Persons do not have any plans or proposals which would relate to or would result in the acquisition or disposition of additional securities of the Issuer; (b) The Reporting Persons do not presently have any plans or proposals which relate to or would result in an extraordinary corporate transaction, such as a merger, reorganization or liquidation, involving the Issuer or any of its subsidiaries; 12 13 (c) The Reporting Persons do not presently have any plans or proposals which relate to or would result in a sale or transfer of a material amount of assets of the Issuer or of any of its subsidiaries; (d) The Reporting Persons have made no changes to the Board of Directors or management of the Issuer and have no present plans or proposals to make any changes in the present Board of Directors or management of the Issuer, including any changes in the number or term of directors or the filling of any existing vacancies on the Board of Directors. The Reporting Persons currently intend to send its representative to meetings of the Issuer's Board of Directors in a non-voting observer capacity and are considering recommending to management a candidate for Issuer's Board of Directors; (e) The Reporting Persons do not presently have any plans or proposals which relate to or would result in any material change in the present capitalization or dividend policy of the Issuer; (f) The Reporting Persons do not presently have any plans or proposals which relate to or would result in any other material change in the Issuer's business or corporate structure; (g) The Reporting Persons do not presently have any plans or proposals which relate to or would result in changes in the Issuer's charter, bylaws or instruments corresponding thereto or other actions which may impede the acquisition of control of the Issuer by any person; (h) The Reporting Persons do not presently have any plans or proposals which relate to or would result in a class of securities of the Issuer being delisted from a national securities exchange or ceasing to be authorized to be quoted in an inter-dealer quotation system of a registered national securities association; (i) The Reporting Persons do not presently have any plans or proposals which relate to or would result in a class of equity securities of the Issuer becoming eligible for termination of registration pursuant to Section 12(g)(4) of the Securities Exchange Act of 1934, as amended; and (j) The Reporting Persons do not presently have any plans or proposals which relate to or would result in an action similar to any of those enumerated above. ITEM 5. INTEREST IN SECURITIES OF THE ISSUER (a)(i) The 1,805,892 shares of Common Stock issuable upon conversion of the Series A Preferred Stock held by VTF represent a beneficial ownership of approximately 15.1% of the Issuer's outstanding shares of Common Stock, based on 10,151,277 outstanding shares of Common Stock as of July 12, 1999. The 469,482 shares of Common Stock issuable upon conversion of the Series A Preferred Stock held by VTF(II) represent a beneficial ownership of approximately 4.4% of Issuer's 13 14 outstanding shares of Common Stock as of July 12, 1999. Each share of Series A Preferred Stock votes on the same basis as one share of Common Stock. The 1,137,687 shares of Common Stock issuable upon exercise of the two Warrants represent 10.1% of the Issuer's outstanding shares of Common Stock. The Warrants do not have any voting privileges. (ii) The 100,000 and 489,767 shares of Common Stock held by VII(I) and VII(III) represent a beneficial ownership of 1% and 4.8% respectively as of July 12, 1999. (b)
No. of Shares Holding No. of Shares Holding Sole Power to Vote, Shared Power to Vote, Dispose or Direct Dispose or Direct Disposition Disposition --------------------- --------------------- Singapore Technologies Pte. Ltd. None 4,002,828* Vertex Technology Fund Ltd. None 2,708,830* Vertex Techology Fund None 704,223* (II), Ltd. Vertex Investments International I, Inc. None 100,000 Vertex Investments International III, Inc. None 489,767
* assumes conversion of all Series A Preferred Stock held by Reporting Persons and exercise of all Warrants held by Reporting Persons (c) The Reporting Persons have not effected any transaction in the Issuer's Common Stock during the past 60 days, and, to the best of their knowledge, no person named in Item 2 has effected any transactions in the Issuer's Common Stock during the past 60 days. (d) No other person is known to the Reporting Persons to have the right to receive or the power to direct the receipt of dividends from, or proceeds from the sale of, any shares of Common Stock beneficially owned by the Reporting Persons on the date of this statement. (e) Not applicable. 14 15 ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER PREFERRED STOCK AND WARRANT PURCHASE AGREEMENT The Preferred Stock and Warrant Purchase Agreement dated as of June 28, 1998, by and among the Issuer and VTF, VTF(II) and others, contains certain "standstill" and "right of first offer" obligations of VTF with respect to the Shares. Standstill Obligation. VTF and VTF(II) have agreed that, as long as the applicable investor owns more than five percent of Issuer's securities, it will not acquire more than 100,000 shares of the Issuer's Common Stock (other than the shares issuable upon conversion of the Series A Preferred Stock or exercise of the Warrants) without prior written consent of the Issuer. Right of First Offer. VTF and VTF(II) have each agreed that in the event that either investor and its "affiliates" or "associates" (as those terms are defined in Rule 405 promulgated under the Securities Act of 1993, as amended (the "SECURITIES ACT")) (collectively, the "VERTEX GROUP") seek to sell, transfer the voting rights in, or otherwise transfer for value 5% or more of the then outstanding shares of the Issuer's Common Stock (including the shares issuable upon conversion of the Series A Preferred Stock) to any person or group of persons in one or more related transactions (a "SIGNIFICANT TRANSACTION"), the Vertex Group will provide, in writing, a notice reflecting its desire to enter into such Significant Transaction and setting forth the terms and conditions of the proposed Significant Transaction (such notice, a "ROFO NOTICE"). Each ROFO Notice shall constitute an offer by the Vertex Group to sell the securities covered by such ROFO Notice (the "ROFO SECURITIES") to the Issuer on the terms and conditions set forth in the ROFO Notice as to any part of the ROFO Securities. The Right of First Offer (i) will not apply to any transfer in connection with a transaction approved by the Issuer's Board of Directors, (ii) will not apply to any shares transferred pursuant to the Right of First Offer, and (iii) will terminate on June 27, 2002. REGISTRATION RIGHTS AGREEMENT VTF and the Issuer entered into a Registration Rights Agreement dated as of October 16, 1998 (the "REGISTRATION RIGHTS AGREEMENT"), as amended July 12, 1999 to include VTF(II),which provides, among other things, certain registration rights with respect to the Shares. Issuer has previously filed and has declared effective a registration statement on Form S-3 (the "S-3 REGISTRATION STATEMENT") covering the shares of Common Stock issuable upon conversion of the Series A Preferred Stock of VTF. Issuer intends to file an additional Form S-3 covering the shares of Common Stock issuable upon the conversion of the Series A Preferred Stock of VTF(II) and the shares of Common Stock issuable upon the exercise of the Warrants by VTF and VTF(II) (collectively the "REGISTRABLE SECURITIES"). If the Issuer proposes to register any of its securities under the Securities Act, it must give prior notice to VTF and VTF(II) and permit them, subject to certain limitations, to 15 16 include in such registration all or part of the Registrable Securities (a "PIGGYBACK Registration"). The underwriters (if any) may reduce the number of Registrable Securities to be included in a Piggyback Registration, provided that each of VTF and certain other holders of the Registrable Securities shall be subject to such reduction only on a pro rata basis. The Issuer is required to bear all Registration Expenses (as defined in the Registration Rights Agreement) in connection with Registration Rights Agreement. ITEM 7. MATERIAL TO BE FILED AS EXHIBITS The following documents are filed as exhibits hereto: Exhibit A: Preferred Stock and Warrant Purchase Agreement dated June 28, 1999 among Issuer, VTF, VTF(II) and other investors and exhibits thereto.* Exhibit B: Registration Rights Agreement dated as of October 16, 1998, by and among the Issuer and VTF.**
* Incorporated by reference to Issuer's report on Form 8-K filed with the Securities and Exchange Commission on July 13, 1999. ** Incorporated by reference to VTF's Schedule 13D filed with the Securities and Exchange Commission on October 27, 1998. 16 17 SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Dated: July 22, 1999 VERTEX TECHNOLOGY FUND LTD. By: /s/ Lee Kheng Nam ------------------------------------- Name: Lee Kheng Nam ----------------------------------- Title: President ---------------------------------- VERTEX TECHNOLOGY FUND (II), LTD. By: /s/ Lee Kheng Nam ------------------------------------- Name: Lee Kheng Nam ----------------------------------- Title: President ---------------------------------- VERTEX INVESTMENTS INTERNATIONAL I INC. By: /s/ Lee Kheng Nam ------------------------------------- Name: Lee Kheng Nam ----------------------------------- Title: President ---------------------------------- VERTEX INVESTMENTS INTERNATIONAL III INC. By: /s/ Lee Kheng Nam ------------------------------------- Name: Lee Kheng Nam ----------------------------------- Title: President ---------------------------------- SINGAPORE TECHNOLOGIES PTE LTD. By: ------------------------------------- Name: ----------------------------------- Title: ---------------------------------- 17 -----END PRIVACY-ENHANCED MESSAGE-----