<PAGE> 1
----------------------------
OMB APPROVAL
----------------------------
OMB Number: 3235-0145
Expires: December 31, 1997
Estimated average burden
hours per form . . . . 14.90
----------------------------
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 3)*
Aether Systems, Inc.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, par value $.01 per share
- --------------------------------------------------------------------------------
(Title of Class of Securities)
00808V105
- --------------------------------------------------------------------------------
(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 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).
<PAGE> 2
SCHEDULE 13G
<TABLE>
<CAPTION>
- -------------------------------------- --------------------------------
CUSIP No. 00808V105 Page 2 of 10 Pages
- -------------------------------------- --------------------------------
<S> <C>
- -----------------------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Rajendra Singh
- -----------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) X
- -----------------------------------------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- -----------------------------------------------------------------------------------------------
5 SOLE VOTING POWER
6,851,274
NUMBER OF
----------------------------------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY 16,900,078
OWNED BY
----------------------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 6,851,274
PERSON
----------------------------------------------------------------------------
WITH 8 SHARED DISPOSITIVE POWER
16,900,078
- -----------------------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
16,900,078
- -----------------------------------------------------------------------------------------------
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
N/A
- -----------------------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
44.6%
- -----------------------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
- -----------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
</TABLE>
<PAGE> 3
SCHEDULE 13G
<TABLE>
<CAPTION>
- -------------------------------------- --------------------------------
CUSIP No. 00808V105 Page 3 of 10 Pages
- -------------------------------------- --------------------------------
<S> <C>
- -----------------------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Cherrywood Holdings, 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
Kansas, United States
- -----------------------------------------------------------------------------------------------
5 SOLE VOTING POWER
6,851,274
NUMBER OF
----------------------------------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY 16,900,078
OWNED BY
----------------------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 6,851,274
PERSON
----------------------------------------------------------------------------
WITH 8 SHARED DISPOSITIVE POWER
16,900,078
- -----------------------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
16,900,078
- -----------------------------------------------------------------------------------------------
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
N/A
- -----------------------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
44.6%
- -----------------------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
CO
- -----------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
</TABLE>
<PAGE> 4
SCHEDULE 13G
<TABLE>
<CAPTION>
- -------------------------------------- --------------------------------
CUSIP No. 00808V105 Page 4 of 10 Pages
- -------------------------------------- --------------------------------
<S> <C>
- -----------------------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Telcom Ventures, L.L.C.
- -----------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) X
- -----------------------------------------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware, United States
- -----------------------------------------------------------------------------------------------
5 SOLE VOTING POWER
6,851,274
NUMBER OF
----------------------------------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY 16,900,078
OWNED BY
----------------------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 6,851,274
PERSON
----------------------------------------------------------------------------
WITH 8 SHARED DISPOSITIVE POWER
16,900,078
- -----------------------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
16,900,078
- -----------------------------------------------------------------------------------------------
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
N/A
- -----------------------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
44.6%
- -----------------------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
OO
- -----------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
</TABLE>
<PAGE> 5
SCHEDULE 13G
<TABLE>
<CAPTION>
- -------------------------------------- --------------------------------
CUSIP No. 00808V105 Page 5 of 10 Pages
- -------------------------------------- --------------------------------
<S> <C>
- -----------------------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Telcom-ATI Holdings, L.L.C.
- -----------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) X
- -----------------------------------------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware, United States
- -----------------------------------------------------------------------------------------------
5 SOLE VOTING POWER
6,851,274
NUMBER OF
----------------------------------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY 16,900,078
OWNED BY
----------------------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 6,851,274
PERSON
----------------------------------------------------------------------------
WITH 8 SHARED DISPOSITIVE POWER
16,900,078
- -----------------------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
16,900,078
- -----------------------------------------------------------------------------------------------
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
N/A
- -----------------------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
44.6%
- -----------------------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
OO
- -----------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
</TABLE>
<PAGE> 6
SCHEDULE 13G
<TABLE>
<CAPTION>
- -------------------------------------- --------------------------------
CUSIP No. 00808V105 Page 6 of 10 Pages
- -------------------------------------- --------------------------------
<S> <C>
- -----------------------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Telcom-ATI Investors, L.L.C.
- -----------------------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) X
- -----------------------------------------------------------------------------------------------
3 SEC USE ONLY
- -----------------------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware, United States
- -----------------------------------------------------------------------------------------------
5 SOLE VOTING POWER
6,851,274
NUMBER OF
----------------------------------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY 16,900,078
OWNED BY
----------------------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 6,851,274
PERSON
----------------------------------------------------------------------------
WITH 8 SHARED DISPOSITIVE POWER
16,900,078
- -----------------------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
16,900,078
- -----------------------------------------------------------------------------------------------
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
N/A
- -----------------------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
44.6%
- -----------------------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
OO
- -----------------------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
</TABLE>
<PAGE> 7
SCHEDULE 13G
- ---------------------------------- --------------------------------
CUSIP No. 00808V105 Page 7 of 10 Pages
- ---------------------------------- --------------------------------
Item 1(a) Name of Issuer:
Aether Systems, Inc.
(b) Address of Issuer's Principal Executive Offices:
11460 Cronridge Drive
Owings Mills, MD 21117
Item 2(a): Name of Persons Filing:
Rajendra Singh
Cherrywood Holdings, Inc.
Telcom Ventures, L.L.C.
Telcom-ATI Holdings, L.L.C.
Telcom-ATI Investors, L.L.C.
(collectively, the "Filing Persons")
(b) Address of Principal Business Office or, if none, Residence:
Same address for each Filing Person:
211 North Union Street, Suite 300
Alexandria, Virginia 22314
(c) Citizenship:
Rajendra Singh - United States
Cherrywood Holdings, Inc. - Kansas corporation
Telcom Ventures, L.L.C. - Delaware limited liability company
Telcom-ATI Holdings, L.L.C. - Delaware limited liability company
Telcom-ATI Investors, L.L.C. - Delaware limited liability company
(d) Title of Class of Securities:
Common Stock, par value $.01 per share
(e) CUSIP Number:
00808V105
<PAGE> 8
SCHEDULE 13G
- ---------------------------------- --------------------------------
CUSIP No. 00808V105 Page 8 of 10 Pages
- ---------------------------------- --------------------------------
Item 3: Capacity in Which Person is Filing if Statement is Filed
Pursuant to Rule 13d-1(b) or 13d-2(b):
N/A
Item 4: Ownership:
As of December 31, 1999:
(a) Amount Beneficially Owned:
6,851,274 shares are directly held by Telcom-ATI Investors,
L.L.C., which is a subsidiary in turn of Telcom-ATI Holdings, L.L.C.,
Telcom Ventures, L.L.C., and Cherrywood Holdings, Inc. Rajendra Singh is
the Chairman and Chief Executive Officer of Cherrywood Holdings, Inc.
(This amount includes 1,875,000 shares that Telcom-ATI Investors, L.L.C.
has the right to acquire, under an option that it has exercised and
anticipates will close in April 2000.) In addition, each of the Filing
Persons may be deemed to beneficially own an aggregate of an additional
10,048,804 shares held by the other parties to a voting agreement among
Telcom-ATI Investors, L.L.C., 3Com Corporation, NexGen Technologies,
L.L.C. and Reuters MarketClip Holdings, Sarl. Under such voting
agreement, each of the parties has agreed to vote for two members of the
board of directors of the issuer named by each of NexGen and Telcom-ATI
Investors, and for one director named by each of Reuters and 3Com. The
Filing Persons disclaim beneficial ownership of the shares held by such
other parties to the voting agreement.
(b) Percent of class:
For each Filing Person:
Sole: 18.1%
Shared: 44.6%
(c) Number of shares to which such person has:
(i) Sole power to vote or to direct the vote:
For each Filing Person: 6,851,274
(ii) Shared power to vote or to direct the vote:
For each Filing Person: 16,900,078
<PAGE> 9
SCHEDULE 13G
- ---------------------------------- --------------------------------
CUSIP No. 00808V105 Page 9 of 10 Pages
- ---------------------------------- --------------------------------
(iii) Sole power to dispose or to direct the disposition of:
For each Filing Person: 6,851,274
(iv) Shared power to dispose or to direct the disposition of:
For each Filing Person: 16,900,078
Item 5: Ownership of Five Percent or Less of Class:
N/A
Item 6: Ownership of More than Five Percent on Behalf of Another Person:
Except as set forth in this Schedule 13G, no person owns more
than 5% on behalf of another person.
Item 7: Identification and Classification of the Subsidiary Which
Acquired the Security Being Reported on By the Parent Holding
Company:
N/A
Item 8: Identification and Classification of Members of the Group:
N/A
Item 9: Notice of Dissolution of Group:
N/A
Item 10: Certification:
N/A
<PAGE> 10
SCHEDULE 13G
- ---------------------------------- --------------------------------
CUSIP No. 00808V105 Page 10 of 10 Pages
- ---------------------------------- --------------------------------
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: April 5, 2000
RAJENDRA SINGH
/s/ Rajendra Singh
------------------------------------
CHERRYWOOD HOLDINGS, INC.
By: /s/ Rajendra Singh
---------------------------------
TELCOM VENTURES, L.L.C.
By: /s/ Rajendra Singh
---------------------------------
TELCOM-ATI HOLDINGS, L.L.C.
By: /s/ Rajendra Singh
---------------------------------
TELCOM-ATI INVESTORS, L.L.C.
By: /s/ Rajendra Singh
---------------------------------
