<PAGE>
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934*
drkoop.com, Inc.
________________________________________________________________________________
(Name of Issuer)
Common Stock, par value $.001 per share
________________________________________________________________________________
(Title of Class of Securities)
262098106
________________________________________________________________________________
(CUSIP Number)
Scott J. Hyten
Interfase Managers, LLC
1301 Capital of Texas Highway, Suite A-300
Austin, Texas 78746
(512) 328-8113
________________________________________________________________________________
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
August 25, 2000
________________________________________________________________________________
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(b)(3) or (4), check the following box [_].
Note: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See Rule 13d-7 for other parties
to whom copies are to be sent.
* 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 1
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SCHEDULE 13D
-----------------------
CUSIP NO. 262098106
-----------------------
------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Interfase Capital Partners IV, LP
------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
2 (a) [_]
(b) [_]
------------------------------------------------------------------------------
SEC USE ONLY
3
------------------------------------------------------------------------------
SOURCE OF FUNDS
4
WC*
------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5
------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
5,714,286**
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY -0-
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
5,714,286**
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
-0-
------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
5,714,286**
------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[_]
------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
14.1%
------------------------------------------------------------------------------
TYPE OF REPORTING PERSON (See Instructions)
14
PN
------------------------------------------------------------------------------
* See response to Item 3.
**See response to Item 5(a).
Page 2
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SCHEDULE 13D
-----------------------
CUSIP NO. 262098106
-----------------------
------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Interfase Management, LP
------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
2 (a) [_]
(b) [_]
------------------------------------------------------------------------------
SEC USE ONLY
3
------------------------------------------------------------------------------
SOURCE OF FUNDS
4
OO*
------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5
------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
5,714,286**
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY -0-
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
5,714,286**
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
-0-
------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
5,714,286**
------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[_]
------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
14.1%
------------------------------------------------------------------------------
TYPE OF REPORTING PERSON (See Instructions)
14
PN
------------------------------------------------------------------------------
* See response to Item 3.
**See response to Item 5(a).
Page 3
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SCHEDULE 13D
-----------------------
CUSIP NO. 262098106
-----------------------
------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Interfase Managers, LLC
------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
2 (a) [_]
(b) [_]
------------------------------------------------------------------------------
SEC USE ONLY
3
------------------------------------------------------------------------------
SOURCE OF FUNDS
4
OO*
------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5
------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
5,714,286**
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY -0-
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
5,714,286**
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
-0-
------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
5,714,286**
------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[_]
------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
14.1%
------------------------------------------------------------------------------
TYPE OF REPORTING PERSON (See Instructions)
14
OO (limited liability company)
------------------------------------------------------------------------------
* See response to Item 3.
**See response to Item 5(a).
Page 4
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SCHEDULE 13D
-----------------------
CUSIP NO. 262098106
-----------------------
------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Scott J. Hyten
------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
2 (a) [_]
(b) [_]
------------------------------------------------------------------------------
SEC USE ONLY
3
------------------------------------------------------------------------------
SOURCE OF FUNDS
4
OO*
------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5
------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Texas
------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
-0-
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 5,714,286**
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
-0-
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
5,714,286**
------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
5,714,286**
------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[_]
------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
14.1%
------------------------------------------------------------------------------
TYPE OF REPORTING PERSON (See Instructions)
14
IN
------------------------------------------------------------------------------
* See response to Item 3.
**See response to Item 5(a).
Page 5
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SCHEDULE 13D
-----------------------
CUSIP NO. 262098106
-----------------------
------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Ronald C. Carroll
------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
2 (a) [_]
(b) [_]
------------------------------------------------------------------------------
SEC USE ONLY
3
------------------------------------------------------------------------------
SOURCE OF FUNDS
4
OO*
------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5
------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Texas
------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
-0-
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 5,714,286**
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
-0-
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
5,714,286**
------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
5,714,286**
------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[_]
------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
14.1%
------------------------------------------------------------------------------
TYPE OF REPORTING PERSON (See Instructions)
14
IN
------------------------------------------------------------------------------
* See response to Item 3.
**See response to Item 5(a).
Page 6
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SCHEDULE 13D
-----------------------
CUSIP NO. 262098106
-----------------------
------------------------------------------------------------------------------
NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Timothy Timmerman
------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
2 (a) [_]
(b) [_]
------------------------------------------------------------------------------
SEC USE ONLY
3
------------------------------------------------------------------------------
SOURCE OF FUNDS
4
OO*
------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [_]
5
------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Texas
------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF
-0-
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
OWNED BY 5,714,286**
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING
-0-
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
5,714,286**
------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
5,714,286**
------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
12
[_]
------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
14.1%
------------------------------------------------------------------------------
TYPE OF REPORTING PERSON (See Instructions)
14
IN
------------------------------------------------------------------------------
* See response to Item 3.
**See response to Item 5(a).
Page 7
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ITEM 1. SECURITY AND ISSUER
This statement relates to the common stock, par value $0.001 per share
(the "Common Stock") of drkoop.com, Inc., a Delaware corporation (the
"Company"), with its principal executive offices located at 7000 N. Mopac, Suite
400, Austin, Texas 78731.
ITEM 2. IDENTITY AND BACKGROUND
(a) This statement is being filed jointly by Interfase Capital
Partners IV, LP, a Delaware limited partnership ("ICP IV"), Interfase
Management, LP, a Delaware limited partnership ("Interfase Management"),
Interfase Managers, LLC, a Delaware limited liability company ("Interfase
Managers"), Scott J. Hyten, an individual, Ronald C. Carroll, an individual and
Timothy Timmerman, an individual. ICP IV, Interfase Management, Interfase
Managers, Mr. Hyten, Mr. Carroll and Mr. Timmerman are the "Reporting Persons."
Interfase Management is the sole general partner of ICP IV. Interfase Managers
is the sole general partner of Interfase Management. Messrs. Hyten, Carroll and
Timmerman are the managers of Interfase Managers.
(b) The address of the principal business of each Reporting Person is
1301 Capital of Texas Highway, Suite A-300, Austin, Texas 78746.
(c) Mr. Hyten's occupations include manager, President, Chief
Executive Officer, Chairman and Managing General Partner of Interfase Managers
and Mr. Hyten also serves in a variety of capacities in several of the
affiliates of Interfase Managers. Mr. Carroll's occupations include manager,
Secretary and Treasurer of Interfase Managers. Mr. Timmerman's occupation is
manager of Interfase Managers. The principal business of Interfase Managers is
advising, operating and managing Interfase Management, the sole general partner
of ICP IV. The principal business of Interfase Management is advising, operating
and managing ICP IV. The principal business of ICP IV is investing in the
securities of various technology-related businesses.
(d) None of the Reporting Persons has during the last five years been
convicted in a criminal proceeding (excluding traffic violations or similar
misdemeanors).
(e) None of the Reporting Persons has during the last five years been
a party to a civil proceeding of a judicial or administrative body of competent
jurisdiction as a result of which such person was or is subject to a judgment,
decree or final order enjoining future violations of, or prohibiting or
mandating activities subject to, federal or state securities laws or finding any
violation with respect to such laws.
(f) Mr. Hyten, Mr. Carroll and Mr. Timmerman are citizens of the
United States.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
ICP IV was formed for the purpose of investing in the securities of
various technology-related businesses and raised working capital for such
purpose through the issuance of limited partnership interests. The securities
covered by this statement were acquired by ICP IV using funds from such working
capital. The Reporting Persons other than ICP IV did not use any of their own
funds in connection with the acquisition of such securities, and such Reporting
Persons are beneficial owners of such securities solely by virtue of their
direct or indirect control over the management of ICP IV.
Page 8
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ITEM 4. PURPOSE OF TRANSACTION
On August 25, 2000, the Company completed a private placement exempt
from registration under the Securities Act of 1933, as amended, of 2,759,000
shares of its Series D 8% Convertible Preferred Stock (the "Preferred Stock")
for $10.00 per share to accredited investors. The Preferred Stock is initially
convertible into 78,571,428 shares of Common Stock. In connection with the
private placement, ICP IV purchased 200,000 shares of Preferred Stock for a
purchase price of $2,000,000. These shares of Preferred Stock are initially
convertible into 5,714,286 shares of Common Stock at a conversion price of $0.35
per share.
Under an agreement that the Company entered into with Commonwealth
Associates, L.P. ("Commonwealth") in connection with the private placement, the
Company agreed that for so long as 400,000 shares of Preferred Stock remain
outstanding, the Company will use its reasonable efforts to cause to be elected
to the board of directors of the Company (the "Board of Directors") two
designees of Commonwealth and two designees of the holders of Preferred Stock.
The Company has indicated that it expects that Nancy Snyderman and John Zaccaro
will resign as directors and that Edwin M. Cooperman and Joseph P. Wynne will
become directors as Commonwealth's designees and Marshall S. Geller and Scott J.
Hyten will become directors as designees of the Preferred Stock holders. In
addition, it is expected that the new Board of Directors will nominate and elect
George A. Vandeman as an additional director. This shift in board composition
cannot take place until at least ten days after an information statement which
complies with Rule 14f-1 of the Securities Exchange Act of 1934, as amended, has
been filed with the SEC and mailed to stockholders.
The Reporting Persons acquired the Preferred Stock for investment
purposes. The Reporting Persons intend to review their investment in the Company
from time to time. Subject to the limitations set forth herein and depending
upon (i) the price and availability of the Preferred Stock and the Common Stock,
(ii) subsequent developments affecting the Company, (iii) the Company's business
and prospects, (iv) other investment and business opportunities available to the
Reporting Persons, (v) general stock market and economic conditions, (vi) tax
considerations, and (vii) other factors deemed relevant, the Reporting Persons
may decide to increase or decrease the size of their investment in the Company.
Except as described in this Schedule 13D, the Reporting Persons do not have any
present plan or proposal which relates to, or could result in, any of the events
referred to in paragraphs (a) through (j), inclusive, of Item 4 of Schedule 13D.
However, the Reporting Persons will continue to review the business of the
Company and, depending upon one or more of the factors referred to above, may in
the future propose that the Company take one or more of such actions.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
(a)(1) ICP IV may be deemed to be the beneficial owner of an aggregate of
5,714,286 shares of Common Stock, representing approximately 14.1% of the
issued and outstanding shares of Common Stock of the Company, which are
issuable upon the conversion of the 200,000 shares of Preferred Stock
held by ICP IV.
(a)(2) Interfase Management, as the sole general partner of ICP IV, may be
deemed to beneficially own the 5,714,286 shares of Common Stock,
representing approximately 14.1% of the issued and outstanding shares of
Common Stock of the Company, beneficially owned by ICP IV.
Page 9
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(a)(3) Interfase Managers, as the sole general partner of Interfase Management,
may be deemed to beneficially own the 5,714,286 shares of Common Stock,
representing approximately 14.1% of the issued and outstanding shares of
Common Stock of the Company, beneficially owned by Interfase Management
and ICP IV.
(a)(4) Mr. Hyten, in his capacity as manager, President, Chief Executive
Officer, Chairman and Managing General Partner of Interfase Managers,
which is the sole general partner of Interfase Management (the sole
general partner of ICP IV), Mr. Carroll, in his capacity as manager,
Secretary and Treasurer of Interfase Managers, and Mr. Timmerman, in his
capacity as manager of Interfase Managers, may each be deemed to
beneficially own the 5,714,286 shares of Common Stock, representing
approximately 14.1% of the issued and outstanding shares of Common Stock
of the Company, beneficially owned by Interfase Managers, Interfase
Management and ICP IV. The foregoing shall not be deemed an admission by
Mr. Hyten, Mr. Timmerman or Mr. Carroll that such individual is a
beneficial owner of securities owned by Interfase Managers, Interfase
Management or ICP IV.
The percentage ownership amounts of the Reporting Persons described
above are calculated in accordance with Rule 13d-3 promulgated under the
Securities Exchange Act of 1934, as amended. As a result, such amounts do not
take into account the effect of conversion or exercise of securities convertible
into Common Stock of the Company (including the Preferred Stock and warrants
issued in the private placement) that are not beneficially owned by the
applicable Reporting Persons. In addition, the instruments governing the
Preferred Stock and certain warrants issued in the private placement contain
anti-dilution provisions which, if triggered, could result in a different number
of shares of Common Stock (and different corresponding percentage ownership)
beneficially owned by the applicable Reporting Persons.
(b) Each of ICP IV, Interfase Management and Interfase Managers may be deemed
to exercise the sole power to vote or direct the voting of and to dispose
or direct the disposition of the 5,714,286 shares of Common Stock
beneficially held by ICP IV. Messrs. Hyten, Timmerman and Carroll, each in
his capacity as a manager of Interfase Managers, may be deemed to share the
power to vote or direct the voting of and to dispose or direct the
disposition of the 5,714,286 shares of Common Stock beneficially held by
ICP IV. The foregoing shall not be deemed an admission by Mr. Hyten, Mr.
Timmerman or Mr. Carroll that such individual is a beneficial owner of
securities owned by Interfase Managers, Interfase Management or ICP IV.
(c) Not applicable.
(d) Not applicable.
(e) Not applicable.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
TO SECURITIES OF THE ISSUER
In connection with the private placement, as a condition to acquiring
the Preferred Stock, each subscriber separately agreed with the Company to vote
in favor of (a) an amendment to the Certificate of Incorporation of the Company
to increase the number of authorized shares of Common Stock and (b) granting
certain options to the Company's new management team and approving a related new
option plan to the extent such approval is required. ICP IV executed such an
agreement. ICP IV does not believe such agreement causes it to be considered to
be acting in concert with or a member of a group with other investors who
subscribed for Preferred Stock.
Page 10
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ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
Exhibit A -- Joint Filing Agreement, dated as of September 7, 2000, by
and among ICP IV, Interfase Management, Interfase
Managers, Mr. Hyten, Mr. Timmerman and Mr. Carroll.
Page 11
<PAGE>
After reasonable inquiry and to the best of its or his current
knowledge and belief, each of the undersigned certifies that the information set
forth in this statement is true, complete and correct.
INTERFASE CAPITAL PARTNERS IV, LP
By: Interfase Management, LP, its general partner
By: Interfase Managers, LLC, its general partner
By: /s/ SCOTT J. HYTEN
------------------------------------
Scott J. Hyten
President, Chief Executive Officer,
Chairman and Managing General Partner
INTERFASE MANAGEMENT, LP
By: Interfase Managers, LLC, its general partner
By: /s/ SCOTT J. HYTEN
------------------------------------
Scott J. Hyten
President, Chief Executive Officer, Chairman
and Managing General Partner
INTERFASE MANAGERS, LLC
By: /s/ SCOTT J. HYTEN
------------------------------------
Scott J. Hyten
President, Chief Executive Officer, Chairman and
Managing General Partner
By: /s/ SCOTT J. HYTEN
------------------------------------
Scott J. Hyten
By: /s/ RONALD C. CARROLL
------------------------------------
Ronald C. Carroll
By: /s/ TIMOTHY TIMMERMAN
------------------------------------
Timothy Timmerman
Page 12
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EXHIBIT INDEX
Exhibit A -- Joint Filing Agreement, dated as of September 7, 2000, by
and among ICP IV, Interfase Management, Interfase
Managers, Mr. Hyten, Mr. Timmerman and Mr. Carroll.
Page 13
