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PAGE 1 OF 10 PAGES
Securities and Exchange Commission
Washington, D.C. 20549
Schedule 13G
Under the Securities Exchange Act of 1934
Nettaxi.com
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
64115G102
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(CUSIP Number)
RGC International Investors, LDC
c/o Rose Glen Capital Management, L.P.
251 St. Asaphs Rd., 3 Bala Plaza - East, Suite 501
Bala Cynwyd, PA 19004
Attn: Gary S. Kaminsky
(610) 617-5900
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(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
June 21, 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:
/ / 13d-1(b)
/X/ 13d-1(c)
/ / 13d-1(d)
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).
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CUSIP NUMBER: 64115G102 PAGE 2 OF 10 PAGES
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1) Names of Reporting Persons; I.R.S. Identification Nos. (entities only)
RGC International Investors, LDC
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2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a) X
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(b)
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3) SEC Use Only
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4) Citizenship or Place of Organization Cayman Islands
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Number of 5) Sole Voting Power 0
Shares
Beneficially -----------------------------------------------
Owned by
Each Reporting 6) Shared Voting Power 2,305,010 (1)
Person With
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7) Sole Dispositive Power 0
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8) Shared Dispositive Power 2,305,010 (1)
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9) Aggregate Amount Beneficially
Owned by Each Reporting Person 2,305,010 (1)
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10) Check if the Aggregate Amount in Row (9)
Excludes Certain Shares (See Instructions) / /
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11) Percent of Class Represented by Amount in Row (9) 5.4%
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12) Type of Reporting Persons (See Instructions) OO
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CUSIP NUMBER: 64115G102 PAGE 3 OF 10 PAGES
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1) Names of Reporting Persons; I.R.S. Identification Nos. (entities only)
Rose Glen Capital Management, L.P.
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2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a) X
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(b)
----
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3) SEC Use Only
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4) Citizenship or Place of Organization Delaware
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Number of 5) Sole Voting Power 0
Shares
Beneficially -----------------------------------------------
Owned by
Each Reporting 6) Shared Voting Power 2,305,010 (1)
Person With
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7) Sole Dispositive Power 0
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8) Shared Dispositive Power 2,305,010 (1)
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9) Aggregate Amount Beneficially
Owned by Each Reporting Person 2,305,010 (1)
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10) Check if the Aggregate Amount in Row (9)
Excludes Certain Shares (See Instructions) / /
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11) Percent of Class Represented by Amount in Row (9) 5.4%
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12) Type of Reporting Persons (See Instructions) PN
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CUSIP NUMBER: 64115G102 PAGE 4 OF 10 PAGES
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1) Names of Reporting Persons; I.R.S. Identification Nos. (entities only)
RGC General Partner Corp.
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2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a) X
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(b)
----
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3) SEC Use Only
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4) Citizenship or Place of Organization Delaware
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Number of 5) Sole Voting Power 0
Shares
Beneficially -----------------------------------------------
Owned by
Each Reporting 6) Shared Voting Power 2,305,010 (1)
Person With
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7) Sole Dispositive Power 0
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8) Shared Dispositive Power 2,305,010 (1)
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9) Aggregate Amount Beneficially
Owned by Each Reporting Person 2,305,010 (1)
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10) Check if the Aggregate Amount in Row (9)
Excludes Certain Shares (See Instructions) / /
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11) Percent of Class Represented by Amount in Row (9) 5.4%
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12) Type of Reporting Persons (See Instructions) CO
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CUSIP NUMBER: 64115G102 PAGE 5 OF 10 PAGES
FOOTNOTES TO COVER PAGE OF SCHEDULE 13G
1. This Schedule 13G is being filed on behalf of the following persons (the
"Filers"):
(1) RGC International Investors, LDC, a Cayman Islands limited
duration company ("RGC");
(2) Rose Glen Capital Management, L.P., a Delaware limited
partnership ("Rose Glen"); and
(3) RGC General Partner Corp., a Delaware corporation ("Partner").
Each of Rose Glen and Partner shall be collectively referred to as the
"RGC Affiliates."
RGC is a private investment fund. Rose Glen is the investment manager
of RGC and Partner is the general partner of Rose Glen. The Common Stock to
which this Schedule 13G relates is owned by RGC. The name, residence or business
address, principal occupation or employment and citizenship of each of the
executive officers of the RGC Affiliates are set forth in the table on Schedule
A hereto.
RGC is reporting that it beneficially owns, and Rose Glen as investment
manager of RGC and Partner as general partner of Rose Glen are reporting that
they beneficially own, 2,305,010 shares of Common Stock, or approximately 5.4%
of the outstanding shares of the Issuer. The total number of shares of Common
Stock beneficially owned by the Filers consists of (i) 555,010 currently
outstanding shares of Common Stock and (ii) 1,750,000 shares of Common Stock
that are currently issuable within 60 days of June 21, 2000 upon the exchange of
convertible debentures held by RGC. The Filers also own stock purchase warrants
(collectively, the "Warrants") to purchase 2,200,000 shares of Common Stock at
an exercise price of $1.50 per share and 269,692 shares of Common Stock at an
exercise price of $4.38 per share. The Warrants expire five years from their
respective dates of issuance. The Warrants are exercisable only to the extent
that the number of shares of Common Stock issuable upon exercise of the
Warrants, together with any other shares of Common Stock beneficially owned by
the Filers, would not exceed 4.9% of the then outstanding Common Stock of the
Issuer. As a result, the Warrants were not exercisable as of June 21, 2000.
Each of RGC and the RGC Affiliates has sole power to vote and dispose
of the shares indicated.
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CUSIP NUMBER: 64115G102 PAGE 6 OF 10 PAGES
ITEM 1. (a) NAME OF ISSUER:
Nettaxi.com
(b) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
1696 Dell Avenue, Campbell, California 95008
ITEM 2. (a) NAME OF PERSON FILING:
This Schedule 13G is being filed on behalf of the following
persons (the "Filers"):
(1) RGC International Investors, LDC, a Cayman Islands
limited duration company ("RGC");
(2) Rose Glen Capital Management, L.P., a Delaware
limited partnership ("Rose Glen"); and
(3) RGC General Partner Corp., a Delaware corporation
("Partner").
Each of Rose Glen and Partner shall be collectively referred
to as the "RGC Affiliates."
RGC is a private investment fund. Rose Glen is the investment
manager of RGC and Partner is the general partner of Rose Glen. The
Common Stock to which this Schedule 13G relates is owned by RGC. The
name, residence or business address, principal occupation or employment
and citizenship of each of the executive officers of the RGC Affiliates
are set forth in the table on Schedule A hereto.
(b) ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE:
The business address for each of the RGC Affiliates is 251 St.
Asaphs Road, Suite 501, 3 Bala Plaza - East, Bala Cynwyd,
Pennsylvania 19004. The business address for RGC is c/o SEI
Investments-Global Fund Services Limited, Styne House, Upper
Hatch Street, Dublin, Ireland 2. The residence or business
address of each of the executive officers of the RGC
Affiliates are set forth in the table on Schedule A hereto.
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CUSIP NUMBER: 64115G102 PAGE 7 OF 10 PAGES
(c) CITIZENSHIP:
RGC is a Cayman Islands limited duration company. Rose Glen is
a Delaware limited partnership. Partner is a Delaware
corporation. The citizenship of each of the executive officers
of the RGC Affiliates are set forth in the table on Schedule A
hereto.
(d) TITLE OF CLASS OF SECURITIES:
Common Stock
(e) CUSIP NUMBER:
64115G102
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULE 13d-1(b), OR
13d-2(b), CHECK WHETHER THE PERSON FILING IS A:
Not applicable
ITEM 4. OWNERSHIP.
For information concerning the ownership of Common Stock of
the Issuer by RGC and the RGC Affiliates, see Item 5 through 9
and 11 of the cover pages to this Schedule 13G and the
footnotes thereto.
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:
RGC has granted to Rose Glen, as investment manager, the sole
power to manage RGC's investments.
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH
ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING
COMPANY:
Not applicable
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CUSIP NUMBER: 64115G102 PAGE 8 OF 10 PAGES
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP:
Not applicable
ITEM 9. NOTICE OF DISSOLUTION OF GROUP:
Not applicable
ITEM 10. CERTIFICATION:
By signing below I certify that, to the best of my knowledge
and belief, the securities referred to above were not acquired
and are not held for the purpose of or with the effect of
changing or influencing the control of the issuer of the
securities and were not acquired and are not held in
connection with or as a participant in any transaction having
that purpose or effect.
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CUSIP NUMBER: 64115G102 PAGE 9 OF 10 PAGES
SIGNATURES
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this Statement on Schedule
13G is true, complete and correct as of the date hereof.
Dated: June 29, 2000
RGC INTERNATIONAL INVESTORS, LDC
By: Rose Glen Capital Management, L.P.
By: RGC General Partner Corp.
By: /s/ Gary S. Kaminsky
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Gary S. Kaminsky
Managing Director
ROSE GLEN CAPITAL MANAGEMENT, L.P.
By: RGC General Partner Corp.
By: /s/ Gary S. Kaminsky
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Gary S. Kaminsky
Managing Director
RGC GENERAL PARTNER CORP.
By: /s/ Gary S. Kaminsky
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Gary S. Kaminsky
Managing Director
ATTENTION: INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACT CONSTITUTE FEDERAL
CRIMINAL VIOLATIONS (SEE 18 U.S.C. SECTION 1001)
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CUSIP NUMBER: 64115G102 PAGE 10 OF 10 PAGES
SCHEDULE A
The name, citizenship and principal occupation or employment
of each executive officer of the RGC Affiliates are set forth below. The
business address of the above listed persons is 251 St. Asaphs Road, Suite 501,
3 Bala Plaza-East, Bala Cynwyd, Pennsylvania 19004.
<TABLE>
<CAPTION>
Name and Position Citizenship Principal Occupation or Employment
----------------- ----------- ----------------------------------
<S> <C> <C>
Wayne D. Bloch United States Managing Director - RGC General Partner Corp.*
Gary S. Kaminsky United States Managing Director - RGC General Partner Corp.*
Steven B. Katznelson Canada Managing Director - RGC General Partner Corp.*
</TABLE>
RGC is governed by a board of directors consisting of Messrs. Bloch, Kaminsky
and Katznelson and three additional persons who are affiliates of RGC's
administrator, SEI Investments-Global Fund Services Limited. RGC's board of
directors has granted to Rose Glen, as investment manager, the sole power to
manage RGC's portfolio of investments.
* Messrs. Bloch, Kaminsky and Katznelson own all of the outstanding
capital stock of Partner, are the sole officers and directors of
Partner and are parties to a shareholders agreement pursuant to which
they collectively control Partner. Through Partner, Messrs. Bloch,
Kaminsky and Katznelson control Rose Glen.
