-----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, CImipEpWKxhyzJSmt6T7pxkcQBPKmLT/1FSvavrfr3DAMvNL/Vq12PkWviHZ/lhy 2xbUdCIISCngBHq/T8SKpQ== 0000897101-01-500574.txt : 20010906 0000897101-01-500574.hdr.sgml : 20010906 ACCESSION NUMBER: 0000897101-01-500574 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20010905 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: CLARENT CORP/DE CENTRAL INDEX KEY: 0001068292 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PREPACKAGED SOFTWARE [7372] IRS NUMBER: 770433687 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D SEC ACT: 1934 Act SEC FILE NUMBER: 005-57601 FILM NUMBER: 1731572 BUSINESS ADDRESS: STREET 1: 700 CHESAPEAKE DRIVE STREET 2: 650-306-7511 CITY: REDWOOD CITY STATE: CA ZIP: 94063 BUSINESS PHONE: 6503067511 MAIL ADDRESS: STREET 1: 700 CHESAPEAKE DRIVE CITY: REDWOOD CITY STATE: CA ZIP: 94063 FORMER COMPANY: FORMER CONFORMED NAME: CLARENT CORP/CA DATE OF NAME CHANGE: 19990324 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: IPI INC CENTRAL INDEX KEY: 0000921753 STANDARD INDUSTRIAL CLASSIFICATION: PATENT OWNERS & LESSORS [6794] IRS NUMBER: 411449312 STATE OF INCORPORATION: MN FISCAL YEAR END: 1130 FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: 8091 WALLACE RD CITY: EDEN PRAIRIE STATE: MN ZIP: 55344 BUSINESS PHONE: 9529756200 MAIL ADDRESS: STREET 1: 8091 WALLACE RD CITY: EDEN PRAIRIE STATE: MN ZIP: 55344 SC 13D 1 ipi013341_13d.txt IPI, INC. SCHEDULE 13D - CLARENT CORPORATION SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 Clarent Corporation ------------------- (Name of Issuer) Common Stock, $.001 par value ----------------------------- (Title of Class of Securities) 180461105 --------- (CUSIP Number) David Engel 8091 Wallace Road Eden Prairie, MN 55344 Tel: 952-975-6246 WITH COPY TO: April Hamlin, Esq. Lindquist & Vennum, P.L.L.P. 4200 IDS Center 80 South 8th Street Minneapolis, MN 55402 Tel: 612-371-3211 ---------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) August 23, 2001 --------------- (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 ss.240.13d-1(e), 240.13d(f) or 240.13(d)-1(g), check the following box. [ ] NOTE: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7 for other parties to whom copies are to be sent. *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter 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). - ------------------------------- ----------------------------- CUSIP No. 180461105 13D Page __2__ of __5__ Pages - ---------- --------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS IPI, INC. - ---------- --------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) [ ] (b) [X] - ---------- --------------------------------------------------------------------- 3 SEC USE ONLY - ---------- --------------------------------------------------------------------- 4 SOURCE OF FUNDS (See instructions) 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 MN - ---------- --------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES 2,081,800 -------- --------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER OWNED BY 0 -------- --------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING 2,081,800 -------- --------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER 0 - ---------- --------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,081,800 - ---------- --------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See instructions) [ ] - ---------- --------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.1% - ---------- --------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON (See instructions) CO - ---------- --------------------------------------------------------------------- Item 1. Security and Issuer. -------------------- (a) Title of Class of Securities: Common Stock, $.001 par value (b) Name of Issuer: Clarent Corporation (the "Issuer") (c) Address of Issuer's Principal Executive Offices: 700 Chesapeake Drive Redwood City, CA 94063 Item 2. Identity and Background. ------------------------ (a) Name of Person Filing: IPI, Inc. (the "Company") (b) Residence or Business Address: 8091 Wallace Road Eden Prairie, MN 55344 (c) Principal Business: Franchisor of fast-turnaround business printing operations. (d) Conviction in a criminal proceeding during the last five years: None. (e) Subject, during the last five years, to a judgment, decree or final order enjoining securities laws violations: None. (f) Citizenship: Minnesota corporation. Pursuant to General Instruction C to Schedule 13D, Schedule I lists the name, business address and occupation of (a) each executive officer and director of the Company, (b) each person controlling the Company and (c) each executive officer and director of any corporation or other person ultimately in control of the Company. No person listed on Schedule I has been convicted in a criminal proceeding during the last five years, nor is subject, during the last five years, to a judgment, decree or final order enjoining securities laws violations. Further, each person listed on Schedule I is a citizen of the United States. The Company disclaims any beneficial ownership over shares held by any other person and disclaims membership in any "group," as that term is defined by Section 13(d)(3) of the Act. Item 3. Source and Amount of Funds or Other Consideration. -------------------------------------------------- Working Capital. Item 4. Purpose of Transaction. ----------------------- The Company has acquired the Common Stock described herein in order to obtain an equity position in the Issuer, the Common Stock of which, in the opinion of the Company, is presently undervalued. The Company has no plans at this time with respect to the Issuer that would result in the acquisition of additional securities of the Issuer, an extraordinary corporate transaction or sale or transfer of assets of the Issuer, a change in the Board of Directors or management or charter or bylaws of the Issuer, the delisting of the Issuer securities or any similar transaction. The Company will continue to review all available alternatives, however and may elect a different course of action in the future. Item 5. Interest in Securities of Issuer. --------------------------------- (a) Number and Percentage of Class beneficially owned: As of August 23, 2001, the Company owns 2,081,800 shares of the Issuer's Common Stock or 5.1%, based on 40,685,480 shares of the Issuer's Common Stock outstanding as of July 31, 2001 as reported in the Issuer's Form 10-Q for the quarter ended June 30, 2001. (b) Voting and Dispositive Power: The Company has sole voting and dispositive power over 2,081,800 shares of the Issuer's Common Stock. The Company does not share voting or dispositive power over any shares of the Issuer's securities with any person. (c) Transactions within 60 days: Date Type of Number of Shares Price Transaction August 14, 2001 Purchase 27,600 6.0649 August 15, 2001 Purchase 18,200 6.0019 August 20, 2001 Purchase 1,500 6.0000 August 20, 2001 Purchase 9,800 6.0000 August 20, 2001 Purchase 13,700 6.0000 August 22, 2001 Purchase 31,000 5.7550 August 23, 2001 Purchase 1,980,000 6.0000 Except for the purchase on August 23, 2001, the Company made all purchases in the open market, brokered transactions. The purchase on August 23, 2001 in the amount of 1,980,000 shares was privately negotiated. The Company purchased the 1,980,000 shares of the Issuer's Common Stock from Credit Suisse First Boston of New York, New York ("Credit Suisse") at the market price on the date of the purchase. As reported on a Schedule 13D filed on May 10, 2001, Irwin L. Jacobs, a director of the Company, beneficially owned the 1,980,000 shares through the right to purchase that number of shares under "pair basket" options with Credit Suisse First Boston. Mr. Jacobs believes it is the position of Credit Suisse First Boston that the options are no longer in effect, and that Credit Suisse First Boston's sale of the 1,980,000 shares to the Company was made in connection with the termination of its hedging position with respect to the options. (d) Right to Direct the Receipt of Dividends: Not Applicable. (e) Last Date on Which Reporting Person Ceased to be a 5% Holder: Not Applicable. To the knowledge of the Company, the persons listed on Schedule I hold such interest in the Issuer as described on Schedule II. Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer. ------------------------------------ None. Item 7. Material to be Filed as Exhibits. --------------------------------- None. Signature After reasonable inquiry and to the best of its knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct. Dated: September 4, 2001 IPI, INC. /s/ David Engel ---------------------------------------- David Engel Vice President of Finance, Chief Financial Officer Schedule I IPI, INC. DIRECTORS
- ---------------------------- ----------------------------- ----------------------------------------------------------- NAME BUSINESS ADDRESS PRINCIPAL OCCUPATION - ---------------------------- ----------------------------- ----------------------------------------------------------- Irwin L. Jacobs 2900 IDS Center Chairman of the Board of Genmar Holdings, Inc., a leading 80 South 8th Street recreational powerboat manufacturer; Chairman and Minneapolis, MN 55402 President of Jacobs Industries, Inc., a holding company; President and director of Jacobs Management Corporation, a management services company; Chairman of Watkins Incorporated, a company engaged in direct marketing of household and health products; and Chairman of Jacobs Trading Company, a company engaged in wholesale of close-out merchandise. - ---------------------------- ----------------------------- ----------------------------------------------------------- Daniel T. Lindsay 2900 IDS Center Director of Genmar Holdings, Inc., Secretary and director 80 South 8th Street of Jacobs Industries, Inc.; Secretary and director of Minneapolis, MN 55402 Watkins Incorporated; and Secretary and director of Jacobs Management Corporation. - ---------------------------- ----------------------------- ----------------------------------------------------------- Dennis Mathisen Marshall Financial Group, Chairman of the Board of Governors of Marshall Ventures, Inc. LLC; Chief Executive Officer of Marshall Financial 903 North Third Street Partners, L.P; President and 100% owner of Marshall Minneapolis, MN 55401 Financial Group, Inc. - ---------------------------- ----------------------------- ----------------------------------------------------------- Howard Grodnick 901 Third Street North Vice President of Sales of Jacobs Trading Company. Minneapolis, MN 55401 - ---------------------------- ----------------------------- ----------------------------------------------------------- Robert J. Sutter 8091 Wallace Road Chairman and President of IPI, Inc. Eden Prairie, MN 55344 - ---------------------------- ----------------------------- ----------------------------------------------------------- David C. Oswald 8091 Wallace Road Vice President of IPI, Inc.;President of Insty-Prints. Eden Prairie, MN 55344 - ---------------------------- ----------------------------- ----------------------------------------------------------- Daniel Rohr 8091 Wallace Road Business Consultant Eden Prairie, MN 55344 - ---------------------------- ----------------------------- ----------------------------------------------------------- Richard A. Zona 8091 Wallace Road Chairman and CEO of Zona Financial, LLC, a business Eden Prairie, MN 55344 that provides financial advisory services. - ---------------------------- ----------------------------- -----------------------------------------------------------
IPI, INC. EXECUTIVE OFFICERS All may be contacted at the address of IPI, Inc.: 8091 Wallace Road Eden Prairie, MN 55344 - ---------------------------- --------------------------------------------------- NAME POSITION WITH IPI, INC. - ---------------------------- --------------------------------------------------- David Engel Vice President of Finance, Chief Financial Officer - ---------------------------- --------------------------------------------------- David Mahler Secretary - ---------------------------- --------------------------------------------------- Robert J. Sutter President - ---------------------------- --------------------------------------------------- David C. Oswald Vice President - ---------------------------- --------------------------------------------------- Schedule II Interest in Securities of Clarent Corporation (the "Issuer") - ----------------------- -------------------------- --------------- NAME NUMBER OF SHARES OF PERCENT(2) COMMON STOCK $.001 PAR VALUE(1) - ----------------------- -------------------------- --------------- Irwin L. Jacobs 1,097,555(3) 2.7 - ----------------------- -------------------------- --------------- Daniel T. Lindsay 25,000 * - ----------------------- -------------------------- --------------- Dennis Mathisen 0 -- - ----------------------- -------------------------- --------------- Howard Grodnick 74,250 * - ----------------------- -------------------------- --------------- Robert J. Sutter 0 -- - ----------------------- -------------------------- --------------- David C. Oswald 0 -- - ----------------------- -------------------------- --------------- Daniel Rohr 0 -- - ----------------------- -------------------------- --------------- Richard A. Zona 0 -- - ----------------------- -------------------------- --------------- David Engel 0 -- - ----------------------- -------------------------- --------------- David Mahler 10,000 * - ----------------------- -------------------------- --------------- * less than 1% (1) Each shareholder exercises sole voting and dispositive power over the shares noted opposite his name and no shareholder has any rights to acquire additional securities within 60 days of the filing of this Schedule 13D. (2) Based on 40,685,480 shares of the Issuer's Common Stock outstanding as of July 31, 2001 as reported in the Issuer's Form 10-Q for the quarter ended June 30, 2001. (3) Does not include shares of the Issuer's Common Stock subject to pair basket options through Credit Suisse First Boston, as previously reported by Mr. Jacobs on a Schedule 13D filed May 10, 2001. Mr. Jacobs believes it is the position of Credit Suisse First Boston that the options are no longer in effect. -----END PRIVACY-ENHANCED MESSAGE-----