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| FORM 3 | U.S. SECURITIES AND EXCHANGE COMMISSION
+--------+ WASHINGTON, D.C. 20549
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
(Print or Type Responses)
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1. Name and Address of Reporting Person*
Chancellor Private Capital Offshore Partners I, C.V.
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(Last) (First) (Middle)
c/o INVESCO Private Capital, Inc. , 1166 Avenue of the Americas
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(Street)
New York New York 10036
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(City) (State) (Zip)
2. Date of Event Requiring Statement (Month/Day/Year)
3/24/99
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3. IRS Identification Number of Reporting Person if an Entity
(Voluntary)
98-0171486
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4. Issuer Name and Ticker or Trading Symbol
GoodNoise Corporation - GDNO
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5. Relationship of Reporting Person(s) to Issuer (Check all applicable)
[_] Director [_] Officer [X] 10% Owner [_] Other
(give title below) (specify below)
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6. If Amendment, Date of Original (Month/Day/Year)
N/A
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7. Individual or Joint Group Filing (Check Applicable Line)
____ Form Filed by One Reporting Person
____ Form filed by More than One Reporting Person
TABLE I--NON-DERIVATIVE SECURITIES BENEFICIALLY OWNED
<TABLE>
<CAPTION>
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1. Title 2. Amount of 3. Ownership Form: 4. Nature of
of Securities Bene- Direct (D) or Indirect Bene-
Security ficially Owned Indirect (I) ficial Ownership
(Instr. 4) (Instr. 4) (Instr. 5) (Instr. 5)
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<S> <C> <C> <C>
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</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
(Page 1 of 2)
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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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1. Title of Derivative 2. Date Exer- 3. Title and Amount of Securities 4. Conversion 5. Ownership 6. Nature of In-
Security (Instr. 4) cisable and Underlying Derivative Security or Form of direct Bene-
Expiration (Instr. 4) Exercise Derivative ficial
Date Price Security: Ownership
(Month/Day/ of Direct (D) (Instr. 5)
Year) Derivative or In-
---------------------------------------------------- Security direct (I)
Date Expira- Amount or (Instr. 5)
Exer- tion Title Number of
cisable Date Shares
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<S> <C> <C> <C> <C> <C> <C> <C>
Series B Convertible $3.00 per
Preferred Stock 3/24/99 None Common Stock 58,300 Share D N/A
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Shares are part of
Series B Convertible $3.00 per group over which
Preferred Stock 3/24/99 None Common Stock 3,275,100 Share I investment advisor
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has sole dispositive
power
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</TABLE>
Explanation of Responses:
Item 2: INVESCO Private Capital, Inc. is an investment advisor registered with
the US Securities and Exchange Commission under the Investment Advisors
Act of 1940, as amended. Several clients, listed below, are the legal
owners of the securities covered by this Form 3. Pursuant to the
investment management contracts with each of these clients, INVESCO
Private Capital, Inc. has sole investment discretion and voting
authority with respect to such securities. INVESCO Private Capital,
Inc. is the investment advisor for the following group members:
Chancellor Private Capital Partners III, L.P., Citiventure 96
Partnership L.P., Chancellor Private Capital Offshore Partners II,
L.P., Chancellor Private Capital Offshore Partners I, C.V. and
Citiventure III Private Participation Limited, all of which group
members share beneficial ownership of the securities described in Table
II.
**Intentional misstatements or omissions of facts constitute Federal Criminal
Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space is insufficient, See Instruction 6 for procedure.
Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a currently
valid OMB Number.
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**Signature of Reporting Person Date
(Page 2 of 2)
