<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 4)*
Aether Systems, Inc.
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(Name of Issuer)
Common Stock, par value $.01 per share
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(Title of Class of Securities)
00808V105
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(CUSIP Number)
September 27, 2000
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Date of Event which Requires Filing of this Statement
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[ ] Rule 13d-1(b)
[ ] Rule 13d-1(c)
[X] Rule 13d-1(d)
*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>
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CUSIP No. 00808V105 Page 2 of 10 Pages
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<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
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
------------------------------------------------------------------------
5 SOLE VOTING POWER
4,951,275
NUMBER OF
--------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY 13,414,354
OWNED BY
--------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 4,951,275
PERSON
--------------------------------------------
WITH 8 SHARED DISPOSITIVE POWER
13,414,354
------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
13,414,354
------------------------------------------------------------------------
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
N/A
------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
34.57%
------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
------------------------------------------------------------------------
</TABLE>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 3
SCHEDULE 13G
<TABLE>
<CAPTION>
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CUSIP No. 00808V105 Page 3 of 10 Pages
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<S> <C>
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Cherrywood Holdings, Inc.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) X
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Kansas, United States
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5 SOLE VOTING POWER
4,951,275
NUMBER OF
----------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY 13,414,354
OWNED BY
----------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 4,951,275
PERSON
----------------------------------------------
WITH 8 SHARED DISPOSITIVE POWER
13,414,354
---------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
13,414,354
---------------------------------------------------------------------------
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
N/A
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
34.57%
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12 TYPE OF REPORTING PERSON*
CO
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</TABLE>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 4
SCHEDULE 13G
<TABLE>
<CAPTION>
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CUSIP No. 00808V105 Page 4 of 10 Pages
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<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
4,951,275
NUMBER OF
----------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY 13,414,354
OWNED BY
----------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 4,951,275
PERSON
----------------------------------------------
WITH 8 SHARED DISPOSITIVE POWER
13,414,354
--------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
13,414,354
--------------------------------------------------------------------------------
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
N/A
--------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
34.57%
--------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
OO
--------------------------------------------------------------------------------
</TABLE>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 5
SCHEDULE 13G
<TABLE>
<CAPTION>
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CUSIP No. 00808V105 Page 5 of 10 Pages
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<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
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware, United States
-------------------------------------------------------------------------------
5 SOLE VOTING POWER
4,951,275
NUMBER OF
---------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY 13,414,354
OWNED BY
---------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 4,951,275
PERSON
---------------------------------------------
WITH 8 SHARED DISPOSITIVE POWER
13,414,354
-------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
13,414,354
-------------------------------------------------------------------------------
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
N/A
-------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
34.57%
-------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
OO
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</TABLE>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 6
SCHEDULE 13G
<TABLE>
<CAPTION>
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CUSIP No. 00808V105 Page 6 of 10 Pages
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<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
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware, United States
-------------------------------------------------------------------------------
5 SOLE VOTING POWER
4,951,275
NUMBER OF
---------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY 13,414,354
OWNED BY
---------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING 4,951,275
PERSON
---------------------------------------------
WITH 8 SHARED DISPOSITIVE POWER
13,414,354
-------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
13,414,354
-------------------------------------------------------------------------------
10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
N/A
-------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
34.57%
-------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
OO
-------------------------------------------------------------------------------
</TABLE>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 7
SCHEDULE 13G
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CUSIP No. 00808V105 Page 7 of 10 Pages
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Item 1(a) Name of Issuer:
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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
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CUSIP No. 00808V105 Page 8 of 10 Pages
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Item 3: Capacity in Which Person is Filing if Statement is Filed
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Pursuant to Rule 13d-1(b), 13d-2(b) or (c):
--------------------------------------------
N/A
Item 4: Ownership: (as of October 2, 2000)
------ ---------
(a) Amount Beneficially Owned:
Of the 6,851,274 shares 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., an aggregate of 1.9 million
shares were sold pursuant to the Aether Systems prospectus dated September 27,
2000 in an underwritten offering for a sale price of $105 per share before
selling commissions and other expenses. The underwriters have an option to
purchase an additional 15% or 285,000 shares within 30 days. In connection with
such offering, Telcom-ATI Investors, L.L.C. agreed, with exceptions, not to sell
or transfer any common stock for 150 days after the date of such prospectus
without first obtaining the written consent of Merrill Lynch. Rajendra Singh is
the Chairman and Chief Executive Officer of Cherrywood Holdings, Inc. In
addition, each of the Filing Persons may be deemed to beneficially own an
aggregate of an additional 8,463,079 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 (based upon 38,802,768 shares
outstanding as of September 24, 2000 as stated in the Issuer's
Prospectus dated September 27, 2000):
Sole: 12.76%
Shared: 34.57%
(c) Number of shares to which such person has:
(i) Sole power to vote or to direct the vote:
For each Filing Person: 4,951,275
(ii) Shared power to vote or to direct the vote:
For each Filing Person: 13,414,354
<PAGE> 9
SCHEDULE 13G
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CUSIP No. 00808V105 Page 9 of 10 Pages
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(iii) Sole power to dispose or to direct the disposition of:
For each Filing Person: 4,951,275
(iv) Shared power to dispose or to direct the disposition of:
For each Filing Person: 13,414,354
Item 5: Ownership of Five Percent or Less of a 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 or
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Control Person:
---------------
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: Certifications:
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N/A
<PAGE> 10
SCHEDULE 13G
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CUSIP No. 00808V105 Page 10 of 10 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: October 12, 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
-------------------------------------
