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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 13D/A
(RULE 13D-101)
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 1)
ONEWAVE, INC.
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(Name of Issuer)
COMMON STOCK, PAR VALUE $.001 PER SHARE
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(Title of Class of Securities)
68272R108
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(CUSIP Number)
With copies to:
Mr. Martin Mengwall Richard R. Plumridge, Esq.
Avix Ventures, L.P. Brobeck, Phleger & Harrison LLP
160 West 66th Street 1633 Broadway, 47th Floor
Suite 47D New York, NY 10019
New York, NY 10023 (212) 581-1600
(212) 579-6965
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
JUNE 9, 1997
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(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.
(Continued on following pages)
Page 1 of 8 Pages
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CUSIP NO. 68272R108 13D PAGE 2 OF 8 PAGES
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Avix Ventures, L.P.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) /x/
(b) / /
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3 SEC USE ONLY
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4 SOURCE OF FUNDS PF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS / /
IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
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6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
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NUMBER 7 SOLE VOTING POWER 0 shares
OF
SHARES --------------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER 7,748,871 shares
OWNED
BY --------------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER 0 shares
REPORTING
PERSON --------------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER 7,748,871 shares
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,748,871 shares
- ----------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES / /
CERTAIN SHARES
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 51.7%
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14 TYPE OF REPORTING PERSON PN
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CUSIP NO. 68272R108 13D PAGE 3 OF 8 PAGES
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Avix Associates, L.P., as general partner of Avix Ventures, L.P.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) /x/
(b) / /
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3 SEC USE ONLY
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4 SOURCE OF FUNDS AF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS / /
IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
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6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
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NUMBER 7 SOLE VOTING POWER 0 shares
OF
SHARES ---------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER 7,748,871 shares
OWNED
BY ---------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER 0 shares
REPORTING
PERSON ---------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER 7,748,871 shares
- ----------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,748,871 shares
- ----------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES / /
CERTAIN SHARES
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 51.7%
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14 TYPE OF REPORTING PERSON PN
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CUSIP NO. 68272R108 13D PAGE 4 OF 8 PAGES
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Kevin Azzouz, as general partner of Avix Associates, L.P.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) /x/
(b) / /
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3 SEC USE ONLY
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4 SOURCE OF FUNDS AF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS / /
IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
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6 CITIZENSHIP OR PLACE OF ORGANIZATION United States
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NUMBER 7 SOLE VOTING POWER 0 shares
OF
SHARES ---------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER 7,748,871 shares
OWNED
BY ---------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER 0 shares
REPORTING
PERSON ---------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER 7,748,871 shares
- ----------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,748,871 shares
- ----------------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES / /
CERTAIN SHARES
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 51.7%
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14 TYPE OF REPORTING PERSON IN
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CUSIP NO. 68272R108 13D PAGE 5 OF 8 PAGES
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Lennart Mengwall, as general partner of Avix Associates, L.P.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) /x/
(b) / /
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3 SEC USE ONLY
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4 SOURCE OF FUNDS AF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS / /
IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
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6 CITIZENSHIP OR PLACE OF ORGANIZATION Sweden
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NUMBER 7 SOLE VOTING POWER 20,000 shares
OF
SHARES ---------------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER 7,748,871 shares
OWNED
BY ---------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER 20,000 shares
REPORTING
PERSON ---------------------------------------------------------
WITH 10 SHARED DISPOSITIVE POWER 7,748,871 shares
- ----------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,768,871 shares
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES / /
CERTAIN SHARES
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 51.8%
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14 TYPE OF REPORTING PERSON IN
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PRELIMINARY NOTE
This Amendment No. 1 to Schedule 13D ("Amendment No. 1") amends the
Schedule 13D (the "Schedule 13D") filed jointly by the same parties filing this
Amendment No. 1 with respect to the common stock, par value $.001 per share (the
"Common Stock"), of OneWave, Inc., a Delaware corporation (the "Issuer"). Any
defined terms used in this Amendment No. 1 but not defined herein shall have the
meanings previously set forth in the Schedule 13D.
Item 4. PURPOSE OF TRANSACTION.
Item 4 is hereby amended and restated to read, it its entirety, as follows:
On April 22, 1997, Avix Ventures, L.P. entered into an agreement (the
"Agreement") with each of Mr. Sundar Subramaniam, J&S Limited Partnership,
Harrington Trust Limited, as Trustee of The Appleby Trust, and Legacy Investment
Partnership (collectively, the "Sellers"), to purchase an aggregate of Seven
Million Seven Hundred Forty Eight Thousand Eight Hundred Seventy One (7,748,871)
shares of Common Stock of the Issuer with personal funds. As reported on the
Statement on Schedule 13D filed on May 2, 1997, each of the Reporting Persons
entered into the Agreement to acquire such shares of Common Stock for investment
purposes.
On April 24, 1997, in connection with the Agreement, Legacy Investment
Partnership informed the Issuer by letter of its intent to nominate, at the next
scheduled annual meeting of the stockholders of the Issuer, for a slate of
directors consisting of Mr. Kevin Azzouz and Mr. Lennart Mengwall, general
partners of Avix Associates L.P., and to adopt any amendments to the By-Laws of
the Issuer as may be necessary to accomplish such action.
On May 7, 1997, at the annual meeting of the stockholders of the Issuer,
each of Messrs. Azzouz and Mengwall, general partners of Avix Associates L.P.,
were elected to the Issuer's Board of Directors. Also on May 7, 1997, each of
Messrs. Azzouz and Mengwall entered into a letter agreement with the Issuer's
Board of Directors pursuant to which they agreed to resign from the Issuer's
Board of Directors in the event that the closing of the transactions
contemplated by the Agreement did not occur on or before June 14, 1997.
On June 5, 1997, the closing of the transactions contemplated by the
Agreement occurred.
On June 9, 1997, Klaus P. Besier, Chairman of the Board of Directors and
Chief Executive Officer of the Issuer, and Mark J. Gallagher, Chief Financial
Officer of the Issuer, resigned from their respective positions. On such date,
the Board of Directors appointed Mr. Mengwall as Chairman of the Board of
Directors and Mr. Azzouz as Acting Chief Executive Officer.
As a result of the transactions and events described above, the Reporting
Persons may be deemed to be able to exercise significant influence over the
management and strategic direction of the Issuer.
Page 6 of 8 Pages
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Although the Reporting Persons have not formulated any definitive plans
other than those set forth above, they may from time to time acquire, or dispose
of, Common Stock and/or other securities of the Issuer if and when they deem it
appropriate, subject to the restrictions imposed by Section 16 of the Securities
Exchange Act of 1934, as amended (the "Act"). The Reporting Persons may
formulate other purposes, plans or proposals relating to any of such securities
of the Issuer to the extent deemed advisable in light of market conditions,
investment policies and other factors.
Except as indicated in this Schedule 13D, including this Item 4, none of
the Reporting Persons currently has any plans or proposals that relate to or
would result in any of the other matters described in subparagraphs (a) through
(j) of Item 4 of Schedule 13D. In the future, however, each of the Reporting
Persons reserves the right to adopt such plans or proposals.
Page 7 of 8 Pages
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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: June 23, 1997
AVIX VENTURES, L.P.
By: AVIX ASSOCIATES, L.P., its general partner
/s/ Lennart Mengwall
---------------------------------------
By: Lennart Mengwall
Title: General Partner
AVIX ASSOCIATES, L.P.
/s/ Lennart Mengwall
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By: Lennart Mengwall
Title: General Partner
/s/ Kevin Azzouz
----------------------------------------
Kevin Azzouz, as a General Partner of Avix
Associates, L.P.
/s/ Lennart Mengwall
----------------------------------------
Lennart Mengwall, as a General Partner of
Avix Associates, L.P.
Page 8 of 8 Pages
