0001044321-14-000045.txt : 20140213
0001044321-14-000045.hdr.sgml : 20140213
20140212173957
ACCESSION NUMBER: 0001044321-14-000045
CONFORMED SUBMISSION TYPE: SC 13D/A
PUBLIC DOCUMENT COUNT: 1
FILED AS OF DATE: 20140213
DATE AS OF CHANGE: 20140212
GROUP MEMBERS: ADAM C. STETTNER
GROUP MEMBERS: AUSTIN W. MARXE
GROUP MEMBERS: AWM INVESTMENT COMPANY, INC.
GROUP MEMBERS: DAVID M. GREENHOUSE
GROUP MEMBERS: MGP ADVISERS LIMITED PARTNERSHIP
GROUP MEMBERS: SPECIAL SITUATIONS CAYMAN FUND, L.P.
GROUP MEMBERS: SPECIAL SITUATIONS FUND III QP, L.P.
GROUP MEMBERS: SPECIAL SITUATIONS TECHNOLOGY FUND II, L.P
GROUP MEMBERS: SPECIAL SITUATIONS TECHNOLOGY FUND, L.P.
GROUP MEMBERS: SSCAYMAN, LLC
GROUP MEMBERS: SST ADVISERS, LLC
SUBJECT COMPANY:
COMPANY DATA:
COMPANY CONFORMED NAME: IMAGE SENSING SYSTEMS INC
CENTRAL INDEX KEY: 0000943034
STANDARD INDUSTRIAL CLASSIFICATION: MEASURING & CONTROLLING DEVICES, NEC [3829]
IRS NUMBER: 411519168
STATE OF INCORPORATION: MN
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: SC 13D/A
SEC ACT: 1934 Act
SEC FILE NUMBER: 005-56343
FILM NUMBER: 14601683
BUSINESS ADDRESS:
STREET 1: 500 SPRUCE TREE CENTRE
STREET 2: 1600 UNIVERSITY AVE
CITY: ST PAUL
STATE: MN
ZIP: 55104-3825
BUSINESS PHONE: 6516037700
MAIL ADDRESS:
STREET 1: 500 SPRUCE TREE CENTRE
STREET 2: 1600 UNIVERSITY AVE W.
CITY: ST PAUL
STATE: MN
ZIP: 55104
FILED BY:
COMPANY DATA:
COMPANY CONFORMED NAME: MARXE AUSTIN W & GREENHOUSE DAVID M
CENTRAL INDEX KEY: 0001044321
IRS NUMBER: 000000000
FILING VALUES:
FORM TYPE: SC 13D/A
BUSINESS ADDRESS:
STREET 1: C/O SPECIAL SITUATIONS FUNDS
STREET 2: 527 MADISON AVENUE, SUITE 2600
CITY: NEW YORK
STATE: NY
ZIP: 10022
BUSINESS PHONE: 2123196670
MAIL ADDRESS:
STREET 1: C/O SPECIAL SITUATIONS FUNDS
STREET 2: 527 MADISON AVENUE, SUITE 2600
CITY: NEW YORK
STATE: NY
ZIP: 10022
SC 13D/A
1
imagesensing13dt5.txt
IMAGE SENSING 13D/A
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. _5_)
Image Sensing Systems, Inc.
(Name of Issuer)
Common Stock
(Title of Class of Securities)
45244C104
(CUSIP Number)
with a copy to:
Austin W. Marxe Allen B. Levithan, Esq.
527 Madison Avenue, Suite 2600 Lowenstein Sandler PC
New York, New York 10022 65 Livingston Avenue
Roseland, New Jersey 07068
(973) 597-2424
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
December 31, 2013
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule l3G to report
the acquisition that is the subject of this Schedule 13D, and is filing this
schedule because of section 240.13d-1(e), 240.13d-1(f) or 240.13d-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 section 240.13d-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
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).
Cusip No. 45244C104
1. Names of Reporting Persons. I.R.S. Identification Nos. of above
persons (entities only):
Austin W. Marxe, David M. Greenhouse and Adam C. Stettner
2. Check the Appropriate Box if a Member of a Group (See Instructions):
(a) [ ] Not Applicable
(b) [ ]
3. SEC Use Only
4. Source of Funds (See Instructions): 00
5. Check if Disclosure of Legal Proceedings Is Required Pursuant to
Items 2(d) or 2(e):
Not Applicable
6. Citizenship or Place of Organization: United States
Number of 7. Sole Voting Power: 0*
Shares Beneficially 8. Shared Voting Power: 1,109,646*
Owned by
Each Reporting 9. Sole Dispositive Power: 0*
Person With 10. Shared Dispositive Power: 1,109,646*
11. Aggregate Amount Beneficially Owned by Each Reporting Person:
1,109,646*
12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares
(See Instructions): Not Applicable
13. Percent of Class Represented by Amount in Row (11): 22.3% *
14. Type of Reporting Person (See Instructions): IA, IN
* This is a joint filing by Austin W. Marxe (?Marxe?), David M. Greenhouse
(?Greenhouse?) and Adam C. Stettner (?Stettner?). Marxe, Greenhouse and
Stettner share sole voting and investment power over 153,481 shares of Common
Stock owned by Special Situations Cayman Fund, L.P., 533,125 shares of Common
Stock owned by Special Situations Fund III QP, L.P., 75,660 shares of Common
Stock owned by Special Situations Technology Fund, L.P. and 347,380 shares of
Common Stock owned by Special Situations Technology Fund II, L.P. See Items
2 and 5 of this Schedule 13D for additional information.
Item 1. Security and Issuer.
This schedule related to the common stock and warrants of Image
Sensing Systems, Inc. (the ?Issuer?). The Issuer?s principal executive officers
are located at 500 Spruce Tree Centre, 1600 University Ave. W. St.,Paul, MN
55104
Item 2. Identity and Background.
The persons filing this report are Austin W. Marxe (?Marxe?), David
M. Greenhouse (?Greenhouse?) and Adam C. Stettner (?Stettner?), who are members
of SSCayman LLC (?SSCay?), the general partner of Special Situations Cayman
Fund, L.P. (?Cayman?). Marxe, Greenhouse and Stettner are controlling
principals of AWM Investment Company, Inc. (?AWM?), the general partner of MGP
Advisers Limited Partnership (?MGP?), the general partner of Special Situations
Fund III QP, L.P. (?SSFQP?). Marxe, Greenhouse and Stettner are members of SST
Advisers L.L.C. (?SST?), the general partner of Special Situations Technology
Fund, L.P. (?TECH?) and Special Situations Technology Fund II, L.P.
(?TECH II?). AWM serves as the investment adviser to Cayman, SSFQP, TECH and
TECH II. The principal business of each Fund is to invest in equity and equity-
related securities and other securities of any kind or nature.
The principal office and business address of the Reporting Persons, is 527
Madison Avenue, Suite 2600, New York NY 10022.
Mr. Marxe, Mr. Greenhouse and Mr. Stettner have never been convicted
in any criminal proceeding (excluding traffic violations or similar
misdemeanors), nor have either of them been a party to any civil proceeding
commenced before a judicial or administrative body of competent jurisdiction as
a result of which he was or is now 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. Mr. Marxe, Mr. Greenhouse and Mr. Stettner are citizens of the
United States.
Item 3. Source and Amount of Funds or Other Consideration.
Each Fund utilized its own available net assets to purchase the
securities referred to in this Schedule.
Item 4. Purpose of Transaction.
The securities referred to in this Schedule have been acquired by
each of the Funds for investment purposes and not with the purpose or effect of
changing or influencing control of the Issuer. Each Fund acquired the
securities in the ordinary course of business and is holding the securities for
the benefit of its investors.
Item 5. Interest in Securities of the Issuer.
Cayman owns 153,481 shares of Common Stock or 3.1% of the shares
outstanding, SSFQP owns 533,125 shares of Common Stock or 10.7% of the shares
outstanding, Tech owns 75,660 shares of Common Stock or 1.5% of the
shares outstanding and Tech II owns 347,380 shares of common stock or 7.0% of
the shares outstanding. Messrs. Marxe, Greenhouse and Stettner share the power
to vote and direct the disposition of all shares of Common Stock owned by each
of the Funds. Messrs. Marxe, Greenhouse and Stettner are deemed to beneficially
own a total of 1,109,646 shares of Common Stock or 22.3% of the outstanding
shares.
The filing of this Schedule 13D/A is to disclose the change in beneficial
ownership of AWM, the investment adviser to the Funds. There are no
transactions to disclose in the following table as no transactions have
occurred within the last sixty day.
A. Special Situations Cayman Fund, L.P.
Date
Quantity
Average Price
(Purchases)
Date
Quantity
Average Price
(Sales)
B. Special Situations Technology Fund, L.P.
Date
Quantity
Average Price
(Purchases)
Date
Quantity
Average Price
(Sales)
C. Special Situations Technology Fund II, L.P.
Date
Quantity
Average Price
(Purchases)
Date
Quantity
Average Price
(Sales)
D. Special Situations Fund III QP, L.P.
Date
Quantity
Average Price
(Purchases)
Date
Quantity
Average Price
(Sales)
Item 6. Contracts, Arrangements, Understandings or Relationships With
Respect to Securities of the Issuer.
No contracts, arrangements, understandings or similar relationships
exist with respect to the securities of the Company between Messrs. Marxe and
Greenhouse and any other individual or entity.
Item 7. Material to be Filed as Exhibits.
Joint Filing Agreement.
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.
Date: February 7, 2014
/s/_Austin W. Marxe
Austin W. Marxe
/s/_David M. Greenhouse
David M. Greenhouse
/s/ Adam C. Stettner
Adam C. Stettner
Attention: Intentional misstatements or omissions of fact constitute Federal
criminal violations (See 18 U.S.C. 1001).
JOINT FILING AGREEMENT
Austin W. Marxe, David M. Greenhouse and Adam C. Stettner hereby agree
that the Schedule 13D to which this agreement is attached is filed on behalf
of each of them.
/s/_Austin W. Marxe
Austin W. Marxe
/s/_David M. Greenhouse
David M. Greenhouse
/s/ Adam C. Stettner
Adam C. Stettner
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