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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 3
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person*
CB Capital Investors, L.P. ("CBCI, LLC") (FN 1)
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(Last) (First) (Middle)
c/o Chase Capital Partners
380 Madison Avenue - 12th Floor
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(Street)
New York New York 10017
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(City) (State) (Zip)
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2. Date of Event Requiring Statement (Month/Day/Year)
1/1/2000
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3. IRS Identification Number of Reporting Person, if an entity (Voluntary)
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4. Issuer Name and Ticker or Trading Symbol
iXL Enterprises, Inc. ("IIXL")
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5. Relationship of Reporting Person to Issuer
(Check all applicable)
|_| Director |X| 10% Owner
|_| Officer (give title below) |_| Other (specify below)
________________________________________
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6. If Amendment, Date of Original (Month/Day/Year)
6/2/1999
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7. Individual or Joint/Group Filing (Check applicable line)
|_| Form filed by One Reporting Person
|X| Form filed by More than One Reporting Person
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Table I -- Non-Derivative Securities Beneficially Owned
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<TABLE>
<CAPTION>
3. Ownership Form:
2. Amount of Securities Direct (D) or
1. Title of Security Beneficially Owned Indirect (I) 4. Nature of Indirect Beneficial Ownership
(Instr. 4) (Instr. 5) (Instr. 5) (Instr. 5)
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<S> <C> <C> <C>
Class D Preferred Stock (FN 2) 9,000 D
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* If the Form is filed by more than one Reporting Person see instruction
5(b)(v).
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
Page 1 of 7
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FORM 3 (continued)
Table II -- Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
<TABLE>
<CAPTION>
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5. Owner-
3. Title and Amount of Securities ship
Underlying Derivative Security Form of
2. Date Exercisable (Instr. 4) Derivative
and Expiration Date --------------------------------- 4. Conver- Security:
(Month/Day/Year) Amount sion or Direct 6. Nature of
---------------------- or Exercise (D) or Indirect
Date Expira- Number Price of Indirect Beneficial
1. Title of Derivative Exer- tion of Derivative (I) Ownership
Security (Instr. 4) cisable Date Title Shares Security (Instr. 5) (Instr. 5)
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<S> <C> <C> <C> <C> <C> <C> <C>
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Class B Convertible N/A N/A Common Stock (FN 5) 4,615,300 $0.00 D
Preferred Stock (FN 4)
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Class B Preferred N/A 12/17/07 Common Stock (FN 5) 639,000 $458.00 D
Warrants (FN 6)
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Class C Convertible N/A N/A Common Stock (FN 5) 923,200 $0.00 D
Preferred Stock (FN 4)
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Explanation of Responses:
(1) Pursuant to an internal reorganization effective as of January 1, 2000, (i)
CB Capital Investors, LLC ("CBCI, LLC") became the successor to CB Capital
Investors, L.P. ("CBCI, LP"), (ii) CB Capital Investors, Inc. ("CBCI, Inc.")
became the managing member of CBCI, LLC, and (iii) Chase Capital Partners
("CCP") became the manager, by delegation, of CBCI, LLC, pursuant to a master
advisory agreement with CBCI, Inc. The internal reorganization changed CBCI,
LP's name and form of organization but did not alter the proportionate interests
of its ultimate security holders.
(2) While these shares are not convertible securities, upon the closing of the
initial public offering of iXL Enterprises, Inc. ("iXL"), these shares will be
reclassified into approximately 1,826,298 shares of Common Stock, which such
number of shares of Common Stock is subject to adjustment by a formula based
upon the price of the Common Stock on the actual closing date of the initial
public offering.
(3) Flatiron Associates LLC (f/k/a Friends of Flatiron, LLC), Flatiron Fund
1998/99, LLC and Flatiron Partners LLC (collectively, the "Flatiron Investors")
and/or affiliates of the Flatiron Investors (collectively, the "Flatiron Group")
are parties to certain co-investment arrangements with affiliates of CBCI, L.P.
(the "Chase Entities"). The parties to such arrangements have agreed to a
venture capital investment program for the purpose of making private investments
primarily in the equity and equity-related securities of early stage Internet
companies (the "Program"). Pursuant to the Program, the Flatiron Group has
agreed to devote substantially all of its time to identifying, developing,
evaluating and negotiating terms for portfolio investments for and on behalf of
the Program (the "Program Investments"). In addition to its full-time devotion
to the Program, the Flatiron Group has agreed, subject to certain limited
exceptions, not to make any investments in companies engaged in activities
pertaining to operations, content, services or technology relating to the
Internet (the "Internet Area") other than through the Program, or to raise funds
or manage capital on a fee or carried interest basis for investments in the
Internet Area. In return, the Chase Entities have agreed, subject to certain
exceptions, to refer lead Internet Area investments to the Program.
Pursuant to the Program, the operating expenses of the Program and substantially
all of the Program Investments are funded by low-cost loans from the Chase
Entities to the Flatiron Group. Such loans are secured by a pledge of the
securities representing the Program Investments to the Chase Entities and are
cross collateralized and guaranteed by a limited recourse guaranty of each
principal of the Flatiron Group. The Flatiron Group has agreed to repay such
loans out of the proceeds received from Program Investments. The pledged
securities are also subject to certain vesting provisions; under certain
circumstances, the Chase Entities have the right to purchase the unrealized,
unvested securities at a price less than the fair market value. In addition, as
co-investors in the Program, each of the Chase Entities and the Flatiron Group
have granted each other certain rights, including without limitation, co-sale
rights (subject to certain exceptions), indemnification rights, sharing of any
fees generated from Program Investments and confidentiality provisions regarding
the Program Investments and any other shared information. The co-sale rights
terminate upon the close of iXL's initial public offering.
Currently, The Flatiron Fund 1998/99 LLC holds 1,000 shares of Class D Preferred
Stock and Flatiron Associates holds 100 shares of Class D Preferred Stock, which
subject to adjustment by a formula based upon the price of the Common Stock on
the actual closing date of the initial public offering, will be classified into
approximately 223,214 shares of Common Stock. Flatiron Partners LLC holds 6,154
shares of Class B Preferred Stock and 710 shares of Class B Preferred Warrants.
Upon the closing of the initial public offering of iXL, the Flatiron Group will,
subject to adjustment by a formula based upon the price of the Common Stock on
the actual closing date of the initial public offering, own a total of 909,614
shares of Common Stock.
Until May 31, 1999, I. Robert Greene, a director of iXL, was a general partner
of Chase Capital Partners ("CCP"), the limited partner of CBCI, L.P. CCP is
investment manager of CB Capital Investors, Inc., the sole general partner of
CBCI, L.P. Mr. Greene resigned as partner of CCP effective May 31, 1999 and
became a principal of the Flatiron Group as of June 1, 1999.
Notwithstanding the foregoing, each of the Chase Entities and CBCI, L.P.
disclaim beneficial ownership of the iXL securities held by the Flatiron Group;
accordingly, the filing of this form shall not be construed as an admission
that, the Chase Entities, CBCI, L.P. or any of the other reporting persons are
the beneficial owners of such securities.
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(4) Each share of Class B and Class C Convertible Preferred Stock is convertible
at the option of the holder into 100 shares of Class A Common Stock. This
conversion is subject to change if certain events occur that would otherwise
dilute the conversion rights of Class B and Class C Convertible Preferred Stock.
Such conversion is automatic upon the effective date of an initial public
offering of Common Stock by iXL with a per share price of at least $7 and for
which the aggregate proceeds equal at least $30,000,000. Holders of Class A
Common Stock are entitled to convert their shares into Class B Common Stock at
any time on a share for share basis. The Class A Common Stock will be
reclassified as Common Stock at the closing of the initial public offering of
iXL.
(5) The Common Stock reflected herein is currently the Class B Common Stock of
iXL which will be reclassified as Common Stock at the closing of the initial
public offering of iXL.
(6) Class B Preferred Warrants are exercisable for Class B Convertible Preferred
Stock and are therefore convertible, at the holder's option, into 100 shares of
Class B Common Stock for each share of Class B Convertible Preferred Stock. Upon
the closing of the initial public offering of iXL, the warrants owned by CBCI,
L.P. may be exercised for cash consideration and would represent 639,000 shares
of Common Stock.
CB CAPITAL INVESTORS, LLC
By: Chase Capital Partners, as Manager
By: February , 2000
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Date
Title: of Chase Capital Partners
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Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, See Instruction 6 for procedure.
Page 3 of 7
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<CAPTION>
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Title of
Derivative
Securities
and Title and
Amount of Ownership
Date of Securities Direct Form: Nature of Disclaims
Event Issuer Name, Title and Underlying (D) or Indirect Pecuniary
Name and Address of Designated Requiring or Ticker Amount of Derivative Indirect Beneficial Interest
Reporting Person Reporter(1) Statement Trading Symbol Security Securities (I) Ownership (5)
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<S> <C> <C> <C> <C> <C> <C> <C> <C>
John R. Baron CB Capital January iXL Enterprises, See Table See Table II I See No
c/o Chase Capital Investors, LLC 1, 2000 Inc. ("IIXL") II and FN 2 and FN 2 above Explanatory
Partners above Note 2 below
380 Madison Avenue
12th Floor
New York, NY 10017
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Mitchell J. Blutt CB Capital January iXL Enterprises, See Table See Table II I See Yes
c/o Chase Capital Investors, LLC 1, 2000 Inc. ("IIXL") II and FN 2 and FN 2 above Explanatory
Partners above Note 2 below
380 Madison Avenue
12th Floor
New York, NY 10017
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Chris C. Behrens CB Capital January iXL Enterprises, See Table See Table II I See No
c/o Chase Capital Investors, LLC 1, 2000 Inc. ("IIXL") II and FN 2 and FN 2 above Explanatory
Partners above Note 2 below
380 Madison Avenue
12th Floor
New York, NY 10017
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Arnold L. Chavkin CB Capital January iXL Enterprises, See Table See Table II I See No
c/o Chase Capital Investors, LLC 1, 2000 Inc. ("IIXL") II and FN 2 and FN 2 above Explanatory
Partners above Note 2 below
380 Madison Avenue
12th Floor
New York, NY 10017
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Eric Green CB Capital January iXL Enterprises, See Table See Table II I See Yes
c/o Chase Capital Investors, LLC 1, 2000 Inc. ("IIXL") II and FN 2 and FN 2 above Explanatory
Partners above Note 2 below
380 Madison Avenue
12th Floor
New York, NY 10017
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Michael R. Hannon CB Capital January iXL Enterprises, See Table See Table II I See No
c/o Chase Capital Investors, LLC 1, 2000 Inc. ("IIXL") II and FN 2 and FN 2 above Explanatory
Partners above Note 2 below
380 Madison Avenue
12th Floor
New York, NY 10017
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Donald J. Hofmann CB Capital January iXL Enterprises, See Table See Table II I See No
c/o Chase Capital Investors, LLC 1, 2000 Inc. ("IIXL") II and FN 2 and FN 2 above Explanatory
Partners above Note 2 below
380 Madison Avenue
12th Floor
New York, NY 10017
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</TABLE>
Page 3 of 6
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<TABLE>
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<S> <C> <C> <C> <C> <C> <C> <C> <C>
Stephen P. Murray CB Capital January iXL Enterprises, See Table See Table II I See No
c/o Chase Capital Investors, LLC 1, 2000 Inc. ("IIXL") II and FN 2 and FN 2 above Explanatory
Partners above Note 2 below
380 Madison Avenue
12th Floor
New York, NY 10017
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John M.B. O'Connor CB Capital January iXL Enterprises, See Table See Table II I See No
c/o Chase Capital Investors, LLC 1, 2000 Inc. ("IIXL") II and FN 2 and FN 2 above Explanatory
Partners above Note 2 below
380 Madison Avenue
12th Floor
New York, NY 10017
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Susan L. Segal CB Capital January iXL Enterprises, See Table See Table II I See Yes
c/o Chase Capital Investors, LLC 1, 2000 Inc. ("IIXL") II and FN 2 and FN 2 above Explanatory
Partners above Note 2 below
380 Madison Avenue
12th Floor
New York, NY 10017
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Shahan D. Soghikian CB Capital January iXL Enterprises, See Table See Table II I See No
c/o Chase Capital Investors, LLC 1, 2000 Inc. ("IIXL") II and FN 2 and FN 2 above Explanatory
Partners above Note 2 below
50 California
Street, Suite 2940
San Francisco, CA
94111
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Jeffrey C. Walker CB Capital January iXL Enterprises, See Table See Table II I See No
c/o Chase Capital Investors, LLC 1, 2000 Inc. ("IIXL") II and FN 2 and FN 2 above Explanatory
Partners above Note 2 below
380 Madison Avenue
12th Floor
New York, NY 10017
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Richard D. Waters CB Capital January iXL Enterprises, See Table See Table II I See Yes
c/o Chase Capital Investors, LLC 1, 2000 Inc. ("IIXL") II and FN 2 and FN 2 above Explanatory
Partners above Note 2 below
380 Madison Avenue
12th Floor
New York, NY 10017
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Damion E. Wicker CB Capital January iXL Enterprises, See Table See Table II I See No
c/o Chase Capital Investors, LLC 1, 2000 Inc. ("IIXL") II and FN 2 and FN 2 above Explanatory
Partners above Note 2 below
380 Madison Avenue
12th Floor
New York, NY 10017
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CCP European CB Capital January iXL Enterprises, See Table See Table II I See No
Principals, LLC Investors, LLC 1, 2000 Inc. ("IIXL") II and FN 2 and FN 2 above Explanatory
c/o Chase Capital above Note 2 below
Partners
380 Madison Avenue
12th Floor
New York, NY 10017
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</TABLE>
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<TABLE>
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<S> <C> <C> <C> <C> <C> <C> <C> <C>
CCP Principals, LLC CB Capital January iXL Enterprises, See Table See Table II I See No
c/o Chase Capital Investors, LLC 1, 2000 Inc. ("IIXL") II and FN 2 and FN 2 above Explanatory
Partners above Note 2 below
380 Madison Avenue
12th Floor
New York, NY 10017
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Chase Capital CB Capital January iXL Enterprises, See Table See Table II I See No
Corporation Investors, LLC 1, 2000 Inc. ("IIXL") II and FN 2 and FN 2 above Explanatory
c/o Chase Capital above Note 2 below
Partners
380 Madison Avenue
12th Floor
New York, NY 10017
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Chase Capital CB Capital January iXL Enterprises, See Table See Table II I See No
Partners Investors, LLC 1, 2000 Inc. ("IIXL") II and FN 2 and FN 2 above Explanatory
380 Madison Avenue above Note 3 below
12th Floor
New York, NY 10017
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CB Capital CB Capital January iXL Enterprises, See Table See Table II I See No
Investors, Inc. c/o Investors, LLC 1, 2000 Inc. ("IIXL") II and FN 2 and FN 2 above Explanatory
Chase Capital above Note 4 below
Partners
380 Madison
Avenue 12th Floor
New York, New York
10017
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The Chase Manhattan CB Capital January iXL Enterprises, See Table See Table II I See No
Bank Investors, LLC 1, 2000 Inc. ("IIXL") II and FN 2 and FN 2 above Explanatory
270 Park Avenue above Note 5 below
35th Floor
New York, NY 10017
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The Chase Manhattan CB Capital January iXL Enterprises, See Table See Table II I See No
Corporation Investors, LLC 1, 2000 Inc. ("IIXL") II and FN 2 and FN 2 above Explanatory
270 Park Avenue above Note 6 below
35th Floor
New York, NY 10017
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I. Robert Greene CB Capital January iXL Enterprises, See Table See Table II I See No
c/o Flatiron Partners Investors, LLC 1, 2000 Inc. ("IIXL") II and FN 2 and FN 2 above Explanatory
257 Park Avenue above Note 7 below
South 12th Floor
New York, NY 10010
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Brian J. Richmand CB Capital January iXL Enterprises, See Table See Table II I See No
c/o Chase Capital Investors, LLC. 1, 2000 Inc. ("IIXL") II and FN 2 and FN 2 above Explanatory
Partners above Note 8 below
380 Madison Avenue
12th Floor
New York, NY 10017
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Jonas Steinmann CB Capital January iXL Enterprises, See Table See Table II I See No
c/o Chase Capital Investors, LLC 1, 2000 Inc. ("IIXL") II and FN 2 and FN 2 above Explanatory
Partners above Note 9 below
380 Madison Avenue
12th Floor
New York, NY 10017
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</TABLE>
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Explanatory Note:
1) The Designated Reporter is executing this report on behalf of all reporting
persons, each of whom has authorized it to do so.
2) The amount shown in Table II as directly owned securities represents the
beneficial ownership of the Issuer's equity securities by CBCI, LLC, a portion
of which may be deemed attributable to the reporting person because the
reporting person is a partner of Chase Capital Partners ("CCP"), which is the
manager, by delegation, of CBCI, LLC, pursuant to an advisory agreement with CB
Capital Investors, Inc. The actual pro rata portion of such beneficial ownership
that may be deemed to be attributable to the reporting person is not readily
determinable because it is subject to several variables, including internal rate
of return and vesting of interests within CCP and CBCI, LLC.
3) The amount shown in Table II represents the beneficial ownership of the
Issuer's equity securities by CBCI, LLC, a portion of which may be deemed
attributable to the reporting person because it is the non-managing member of
CBCI, LLC and its manager, by delegation, pursuant to an advisory agreement with
the managing member of CBCI, LLC. The actual pro rata portion of such beneficial
ownership that may be deemed to be attributable to the reporting person is not
readily determinable because it is subject to several variables, including the
internal rate of return and vesting of interests within CBCI, LLC.
4) The amount shown in Table II represents the beneficial ownership of the
Issuer's equity securities by CBCI, LLC, a portion of which may be deemed
attributable to the reporting person because the reporting person is the
managing member of CBCI, LLC. The actual pro rata portion of such beneficial
ownership that may be deemed to be attributable to the reporting person is not
readily determinable because it is subject to several variables, including the
internal rate of return and vesting of interests within CBCI, LLC.
5) The amount shown in Table II represents beneficial ownership of the Issuer's
equity securities by CBCI, LLC, a portion of which may be deemed attributable to
the reporting person because it is the sole stockholder of the managing member
of CBCI, LLC. The actual pro rata portion of such beneficial ownership that may
be attributable to the reporting person is not readily determinate because it is
subject to several variables, including the internal rate of return and vesting
of interests within CBCI, LLC.
6) The amount shown in Table II represents the beneficial ownership of the
Issuer's equity securities by CBCI, LLC, a portion of which may be deemed
attributable to the reporting person because the reporting person is (i) the
sole stockholder of Chase Capital Corporation, which is a general partner of
CCP, the non-managing member of CBCI, LLC and its manager, by delegation,
pursuant to an advisory agreement with its managing member, and (ii) the sole
stockholder of The Chase Manhattan Bank (the sole stockholder of CB Capital
Investors, Inc., the managing member of CBCI, Inc.). The actual pro rata portion
of such beneficial ownership that may be deemed to be attributable to the
reporting person is not readily determinable because it is subject to several
variables, including the internal rate of return and vesting within CCP and
CBCI, LLC.
7) The amount shown in Table II represents the beneficial ownership of the
Issuer's securities by CBCI, LLC, a portion of which may be deemed attributable
to the reporting person because he was a general partner of CCP, the
non-managing member of CBCI, LLC and its manager, by delegation, until May 31,
1999. The actual pro rata portion of such beneficial ownership that may be
deemed to be attributable to the reporting person is not readily determinable
because it is subject to several variables, including the internal rate of
return and vesting within CCP and CBCI, LLC.
8) The amount shown in Table II represents the beneficial ownership of the
Issuer's securities by CBCI, LLC, a portion of which may be deemed attributable
to the reporting person because he was a general partner of CCP, the
non-managing member of CBCI, LLC and its manager, by delegation, until December
31, 1999.
9) The amount shown in Table II represents the beneficial ownership of the
Issuer's securities by CBCI, LLC, a portion of which may be deemed attributable
to the reporting person because he was a general partner of CCP, the
non-managing member of CBCI, LLC and its manager, by delegation, until July 1,
1999.
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