<PAGE> 1
UNITED STATES OMB APPROVAL
SECURITIES AND EXCHANGE COMMISSION OMB NUMBER: 3235-0145
WASHINGTON, D.C. 20549 EXPIRES: OCTOBER 31, 1994
ESTIMATED AVERAGE BURDEN
HOURS PER RESPONSE 14.90
SCHEDULE 13G
INFORMATION STATEMENT PURSUANT TO RULES 13D-1 AND 13D-2
UNDER THE SECURITIES EXCHANGE ACT OF 1934
Hot Topic, Inc.
----------------------------------
(Name of Issuer)
Common Stock
----------------------------------
(Title of Class of Securities)
441339 10 8
----------------------------------
(CUSIP Number)
*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).
FILED FEBRUARY 13, 1997
(REFLECTING OWNERSHIP AS OF 12/31/96)
<PAGE> 2
CUSIP NO. 441339 10 8 13G PAGE 2 OF 11 PAGES
--------------------- ----- -----
1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
SORRENTO VENTURES, A CALIFORNIA LIMITED PARTNERSHIP
---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ X ]
---------------------------------------------------------------------
3 SEC USE ONLY
---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
STATE OF CALIFORNIA
---------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF 198,964
SHARES --------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY -0-
EACH --------------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON WITH 198,964
--------------------------------------------------------
8 SHARED DISPOSITIVE POWER
-0-
--------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
198,964
---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES* [ ]
---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
4.32%
---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
---------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE> 3
CUSIP NO. 441339 10 8 13G PAGE 3 OF 11 PAGES
--------------------- ----- -----
1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
SORRENTO VENTURES II, L.P.
---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ X ]
---------------------------------------------------------------------
3 SEC USE ONLY
---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
STATE OF CALIFORNIA
---------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF 287,459
SHARES --------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY -0-
EACH --------------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON WITH 287,459
--------------------------------------------------------
8 SHARED DISPOSITIVE POWER
-0-
--------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
287,459
---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES* [ ]
---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
6.24%
---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
---------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE> 4
CUSIP NO. 441339 10 8 13G PAGE 4 OF 11 PAGES
--------------------- ----- -----
1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
SORRENTO VENTURES IIB, L.P.
---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ X ]
---------------------------------------------------------------------
3 SEC USE ONLY
---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
STATE OF CALIFORNIA
---------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF 141,304
SHARES --------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY -0-
EACH --------------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON WITH 141,304
--------------------------------------------------------
8 SHARED DISPOSITIVE POWER
-0-
--------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
141,304
---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES* [ ]
---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
3.07%
---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
---------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE> 5
CUSIP NO. 441339 10 8 13G PAGE 5 OF 11 PAGES
--------------------- ----- -----
1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
SORRENTO ASSOCIATES, INC.
---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ X ]
---------------------------------------------------------------------
3 SEC USE ONLY
---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
STATE OF CALIFORNIA
---------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF -0-
SHARES --------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 198,964
EACH --------------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON WITH -0-
--------------------------------------------------------
8 SHARED DISPOSITIVE POWER
198,964
--------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
198,964
---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES* [ ]
---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
4.32%
---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
---------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE> 6
CUSIP NO. 441339 10 8 13G PAGE 6 OF 11 PAGES
--------------------- ----- -----
1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
SORRENTO EQUITY PARTNERS, L.P.
---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ X ]
---------------------------------------------------------------------
3 SEC USE ONLY
---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
STATE OF CALIFORNIA
---------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF -0-
SHARES --------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 287,459
EACH --------------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON WITH -0-
--------------------------------------------------------
8 SHARED DISPOSITIVE POWER
287,459
--------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
287,459
---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES* [ ]
---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
6.24%
---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
---------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE> 7
CUSIP NO. 441339 10 8 13G PAGE 7 OF 11 PAGES
--------------------- ----- -----
1 NAME OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
SORRENTO EQUITY PARTNERS II, L.P.
---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ X ]
---------------------------------------------------------------------
3 SEC USE ONLY
---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
STATE OF CALIFORNIA
---------------------------------------------------------------------
5 SOLE VOTING POWER
NUMBER OF -0-
SHARES --------------------------------------------------------
BENEFICIALLY 6 SHARED VOTING POWER
OWNED BY 141,304
EACH --------------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON WITH -0-
--------------------------------------------------------
8 SHARED DISPOSITIVE POWER
141,304
--------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
141,304
---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES* [ ]
---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
3.07%
---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
PN
---------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT!
<PAGE> 8
ITEM 1.
(a) Name of Issuer: HOT TOPIC, INC.
(b) Address of Issuer's Principal
Executive Officers: 3410 POMONA BOULEVARD
POMONA, CA 91766
ITEM 2.
(a) Name of Person Filing:
SORRENTO VENTURES, A CALIFORNIA LIMITED PARTNERSHIP
SORRENTO VENTURES II, L.P.
SORRENTO VENTURES IIB, L.P.
SORRENTO ASSOCIATES, INC., THE GENERAL PARTNER OF SORRENTO
VENTURES
SORRENTO EQUITY PARTNERS, L.P., THE GENERAL PARTNER OF
SORRENTO VENTURES II, L.P.
SORRENTO EQUITY PARTNERS II, L.P., THE GENERAL PARTNER OF
SORRENTO VENTURES IIB, L.P.
(b) Address of Principal Business
Office or, if none, Residence: 4370 LA JOLLA VILLAGE DRIVE, STE. 1040
SAN DIEGO, CA 92122 (FOR EACH OF THE
ABOVE ENTITIES)
(c) Place of Organization: STATE OF CALIFORNIA (FOR EACH OF THE
ABOVE ENTITIES)
(d) Title of Class of Securities: COMMON STOCK
(e) CUSIP Number: 441339 10 8
ITEM 3. NOT APPLICABLE.
ITEM 4. OWNERSHIP.
(a) Amount Beneficially Owned: As of December 31, 1996, each of the
following is the owner of record of the number of shares of Common
Stock set forth next to its name:
SHARES OPTIONS
------ -------
SORRENTO VENTURES, A CALIFORNIA LIMITED PARTNERSHIP: 194,014 4,950
SORRENTO VENTURES II, L.P.: 281,409 6,050
SORRENTO VENTURES IIB, L.P.: 141,304 -0-
SORRENTO ASSOCIATES, INC.: 194,014 4,950
SORRENTO EQUITY PARTNERS, L.P.: 281,409 6,050
SORRENTO EQUITY PARTNERS II, L.P.: 141,304 -0-
(b) Percent of Class:
SORRENTO VENTURES, A CALIFORNIA LIMITED PARTNERSHIP: 4.32%
SORRENTO VENTURES II, L.P.: 6.24%
SORRENTO VENTURES IIB, L.P.: 3.07%
SORRENTO ASSOCIATES, INC.: 4.32%
SORRENTO EQUITY PARTNERS, L.P.: 6.24%
SORRENTO EQUITY PARTNERS II, L.P.: 3.07
(c) Number of shares as to which such person has:
Page 8 of 11 Pages
<PAGE> 9
(i) sole power to vote or to direct the vote:
SORRENTO VENTURES, A CALIFORNIA LIMITED PARTNERSHIP: 198,964
SORRENTO VENTURES II, L.P.: 287,459
SORRENTO VENTURES IIB, L.P.: 141,304
SORRENTO ASSOCIATES, INC.: -0-
SORRENTO EQUITY PARTNERS, L.P.: -0-
SORRENTO EQUITY PARTNERS II, L.P.: -0-
(ii) shared power to vote or to direct the vote:
SORRENTO VENTURES, A CALIFORNIA LIMITED PARTNERSHIP: -0-
SORRENTO VENTURES II, L.P.: -0-
SORRENTO VENTURES IIB, L.P.: -0-
SORRENTO ASSOCIATES, INC.: 198,964
SORRENTO EQUITY PARTNERS, L.P.: 287,459
SORRENTO EQUITY PARTNERS II, L.P.: 141,304
(iii) sole power to dispose or to direct the disposition of:
SORRENTO VENTURES, A CALIFORNIA LIMITED PARTNERSHIP: 198,964
SORRENTO VENTURES II, L.P.: 287,459
SORRENTO VENTURES IIB, L.P.: 141,304
SORRENTO ASSOCIATES, INC.: -0-
SORRENTO EQUITY PARTNERS, L.P.: -0-
SORRENTO EQUITY PARTNERS II, L.P.: -0-
(iv) shared power to dispose or to direct the disposition of:
SORRENTO VENTURES, A CALIFORNIA LIMITED PARTNERSHIP: 198,964
SORRENTO VENTURES II, L.P.: 287,459
SORRENTO VENTURES IIB, L.P.: 141,304
SORRENTO ASSOCIATES, INC.: -0-
SORRENTO EQUITY PARTNERS, L.P.: -0-
SORRENTO EQUITY PARTNERS II, L.P.: -0-
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS
NOT APPLICABLE.
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON
NOT APPLICABLE.
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE
SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY.
NOT APPLICABLE.
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP
NOT APPLICABLE.
ITEM 9. NOTICE OF DISSOLUTION OF GROUP
Page 9 of 11 Pages
<PAGE> 10
NOT APPLICABLE.
ITEM 10. CERTIFICATION
NOT APPLICABLE
EXHIBIT A: Joint Filing Statement
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 11, 1997
SORRENTO VENTURES, A California SORRENTO VENTURES II, L.P.
limited partnership
By: Its General Partner, By: Its General Partner
Sorrento Associates, Inc. Sorrento Equity Partners, L.P.
By: /s/ Robert M. Jaffe By: /s/ Robert M. Jaffe
--------------------------------- ---------------------------------
President, Sorrento Associates, Inc. President, Sorrento Associates, Inc.
- ------------------------------------ ------------------------------------
Name/Title Name/Title
SORRENTO VENTURES IIB, L.P. SORRENTO ASSOCIATES, INC.
By: Its General Partner
Sorrento Equity Partners II, L.P.
By: /s/ Robert M. Jaffe By: /s/ Robert M. Jaffe
--------------------------------- ---------------------------------
President, Sorrento Associates, Inc. President
- ------------------------------------ ------------------------------------
Name/Title Name/Title
SORRENTO EQUITY PARTNERS, L.P. SORRENTO EQUITY PARTNERS II, L.P.
By: Its General Partner By: Its General Partner
Sorrento Associates, Inc. Sorrento Associates, Inc.
By: /s/ Robert M. Jaffe By: /s/ Robert M. Jaffe
--------------------------------- ---------------------------------
President, Sorrento Associates, Inc. President, Sorrento Associates, Inc.
- ------------------------------------ ------------------------------------
Name/Title Name/Title
Page 10 of 11 Pages
<PAGE> 11
EXHIBIT A
JOINT FILING STATEMENT
Pursuant to Rule 13d-1(f)(1), we, the undersigned, hereby express our
agreement that the attached Schedule 13G is filed on behalf of each of us.
Date: February 11, 1997
SORRENTO VENTURES, A California SORRENTO VENTURES II, L.P.
limited partnership
By: Its General Partner, By: Its General Partner
Sorrento Associates, Inc. Sorrento Equity Partners, L.P.
By: /s/ Robert M. Jaffe By: /s/ Robert M. Jaffe
--------------------------------- ---------------------------------
President, Sorrento Associates, Inc. President, Sorrento Associates, Inc.
- ------------------------------------ ------------------------------------
Name/Title Name/Title
SORRENTO VENTURES IIB, L.P. SORRENTO ASSOCIATES, INC.
By: Its General Partner
Sorrento Equity Partners II, L.P.
By: /s/ Robert M. Jaffe By: /s/ Robert M. Jaffe
--------------------------------- ---------------------------------
President, Sorrento Associates, Inc. President
- ------------------------------------ ------------------------------------
Name/Title Name/Title
SORRENTO EQUITY PARTNERS, L.P. SORRENTO EQUITY PARTNERS II, L.P.
By: Its General Partner By: Its General Partner
Sorrento Associates, Inc. Sorrento Associates, Inc.
By: /s/ Robert M. Jaffe By: /s/ Robert M. Jaffe
--------------------------------- ---------------------------------
President, Sorrento Associates, Inc. President, Sorrento Associates, Inc.
- ------------------------------------ ------------------------------------
Name/Title Name/Title
Page 11 of 11 Pages
