<PAGE>
CUSIP NO. 911474203
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. EXITING )*
US GLOBAL INVESTORS
- --------------------------------------------------------------------------------
Name of Issuer
PREFERRED STOCK
- --------------------------------------------------------------------------------
(Title of Class of Securities)
911474203
- --------------------------------------------------------------------------------
CUSIP Number
ROBERT C. GREENWOOD ROBERTSON, STEPHENS & COMPANY
555 CALIFORNIA STREET, SUITE 2600, SAN FRANCISCO, CA 94104
(415) 781-9700
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications
DECEMBER 17, 1996
- --------------------------------------------------------------------------------
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 [ ].
Check the following box if a fee is being paid with the statement [ ]. (A fee
is not required only if the reporting person: (1) has a previous statement on
file reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class).
(See Rule 13d-7.)
NOTE: Six copies of this statement, including all exhibits, should be filed
with the Commission. See Rule 13d-1(a) 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>
Cusip No. 911474203
SCHEDULE 13D
- --------------------------------------------------------------------------------
CUSIP NO. 911474203
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Robertson, Stephens & Company, Incorporated
Tax I.D. 94-3172874 See Exhibit A for a list of Executive Officers
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) / /
(b) /X/
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO (Working Capital of Purchasing Funds) See Item 2.
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) OR 2(e)
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
CALIFORNIA
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 0
---------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED 0
---------------------------------------------------
BY EACH 9 SOLE DISPOSITIVE POWER
REPORTING 0
---------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER
781,321
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
12.55%
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENT BY AMOUNT IN ROW (11)
0%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
- --------------------------------------------------------------------------------
<PAGE>
Cusip No. 911474203 page 3 of 21
SCHEDULE 13D
- --------------------------------------------------------------------------------
CUSIP NO. 911474203
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
The Robertson Stephens Orphan Fund
Tax I.D. 94-3108651 see Exhibit A for a list of Executive Officers
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) / /
(b) /X/
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO (Working Capital of Purchasing Funds) See Item 2.
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) OR 2(e)
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
CALIFORNIA
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 0
---------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED 0
---------------------------------------------------
BY EACH 9 SOLE DISPOSITIVE POWER
REPORTING 0
---------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER
501,450
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
501,450
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENT BY AMOUNT IN ROW (11)
8.0%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
- --------------------------------------------------------------------------------
<PAGE>
Cusip No. 911474203 page 4 of 21
SCHEDULE 13D
- --------------------------------------------------------------------------------
CUSIP NO. 911474203
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
The Robertson Stephens Contrarian Fund
Tax I.D. 94-3174915 See Exhibit A for a list of Executive Officers
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) / /
(b) /X/
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO (Working Capital of Purchasing Funds) See Item 2.
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) OR 2(e)
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
CALIFORNIA
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 0
---------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED 0
---------------------------------------------------
BY EACH 9 SOLE DISPOSITIVE POWER
REPORTING 0
---------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER
279,860
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
279,860
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENT BY AMOUNT IN ROW (11)
4.5%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
- --------------------------------------------------------------------------------
<PAGE>
Cusip No. 911474203 page 5 of 21
SCHEDULE 13D
- --------------------------------------------------------------------------------
CUSIP NO. 911474203
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Paul Stephens
Tax I.D. ###-##-####
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) / /
(b) /X/
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC & PF
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) OR 2(e) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
UNITED STATES
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
---------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED 0
---------------------------------------------------
BY EACH 9 SOLE DISPOSITIVE POWER
REPORTING
---------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER
781,310
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
781,310
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENT BY AMOUNT IN ROW (11)
12.5%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
<PAGE>
Cusip No. 911474203 page 6 of 21
SCHEDULE 13D
- --------------------------------------------------------------------------------
CUSIP NO. 911474203
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Sanford Robertson
Tax I.D. ###-##-####
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) / /
(b) /X/
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO (Working Capital of Purchasing Funds) See Item 2.
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) OR 2(e) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
CALIFORNIA
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
---------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED 0
---------------------------------------------------
BY EACH 9 SOLE DISPOSITIVE POWER
REPORTING
---------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER
781,310
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
781,310
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENT BY AMOUNT IN ROW (11)
12.5%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
<PAGE>
Cusip No. 911474203 page 7 of 21
SCHEDULE 13D
- --------------------------------------------------------------------------------
CUSIP NO. 911474203
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Michael G. McCaffery
Tax I.D. ###-##-####
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) / /
(b) /X/
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO (Working Capital of Purchasing Funds) See Item 2.
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) OR 2(e) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
CALIFORNIA
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
---------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED 0
---------------------------------------------------
BY EACH 9 SOLE DISPOSITIVE POWER
REPORTING
---------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER
781,310
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
781,310
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENT BY AMOUNT IN ROW (11)
12.5%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
<PAGE>
Cusip No. 911474203 page 8 of 21
SCHEDULE 13D
- --------------------------------------------------------------------------------
CUSIP NO. 911474203
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
G. Randy Hecht
Tax I.D. ###-##-####
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) / /
(b) /X/
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO (Working Capital of Purchasing Funds) See Item 2.
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) OR 2(e) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
CALIFORNIA
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
---------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED 0
---------------------------------------------------
BY EACH 9 SOLE DISPOSITIVE POWER
REPORTING
---------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER
781,310
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
781,310
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENT BY AMOUNT IN ROW (11)
12.5%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
<PAGE>
Cusip No. 911474203 page 9 of 21
SCHEDULE 13D
- --------------------------------------------------------------------------------
CUSIP NO. 911474203
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Kenneth R. Fitzsimmons
Tax I.D. ###-##-####
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) / /
(b) /X/
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO (Working Capital of Purchasing Funds) See Item 2.
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
2(d) OR 2(e) / /
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
CALIFORNIA
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
---------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED 0
---------------------------------------------------
BY EACH 9 SOLE DISPOSITIVE POWER
REPORTING
---------------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER
781,310
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
781,310
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* / /
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENT BY AMOUNT IN ROW (11)
12.5%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT! INCLUDE BOTH SIDES OF THE COVER PAGE,
<PAGE>
Cusip No. 911474203 page 10 of 21
ITEM 1. SECURITY AND ISSUER.
This Schedule 13D is filed with respect to the (former) preferred
Stock of US Global Investors, Inc. (the "Company")
ITEM 2: IDENTITY AND BACKGROUND.
The Schedule 13D is filed on behalf of, Robertson, Stephens & Company,
Inc. ("RS&Co., Inc."), and RS&Co., Inc.'s five shareholders, Messrs. Sanford R.
Robertson, Paul H. Stephens, Michael G. McCaffery, G. Randy Hecht, and Kenneth
R. Fitzsimmons. Giving rise to this exiting 13D is the fact that the company
changed names and converted the class A preferred stock to non-voting class A
common stock.
This Schedule 13D relates to the direct beneficial ownership in the
shares of the Company by the Funds, and the indirect beneficial ownership of
RS&Co., L.P., Bayview, and RS&Co., Inc. in the shares of the Company held by the
Funds. Messrs. Robertson, Stephens, McCaffery, Hecht and Fitzsimmons disclaim
any beneficial ownership with respect to shares of the Company that RS&Co., Inc.
may be deemed to be beneficially own, are included in this Schedule 13D for
protective disclosure purposes only, and shall not be deemed by their inclusion
in this Schedule 13D to have made any admission that any such person has any
beneficial interest in such shares.
Set forth below is the following information with respect to the
persons signing this Schedule 13D: name; place of organization; address of
principal business and office; principal business; information concerning
criminal convictions during the past five years; and information concerning
civil or administrative proceedings during the past five years with respect to
any state or federal securities laws.
I. (a) The Robertson Stephens Orphan Fund, L.P., is a California limited
partnership. Robertson Stephens & Co. Investment Management L.P. and
Bayview Investors LTD. are the General Partners.
(b) 555 California Street, Suite 2600
San Francisco, CA 94104
(c) Limited Partnership
(d) No convictions in criminal proceedings.
(e) No civil or administrative proceedings.
II (a) The Robertson Stephens Orphan Offshore Fund is a Cayman Islands
limited partnership. Robertson, Stephens & Co Investment Management
L.P. is the General Partner.
(b) 555 California Street, Suite 2600
San Francisco, CA 94104
(c) Limited Partnership
(d) No convictions in criminal proceedings.
<PAGE>
Cusip No. 911474203 page 11 of 21
(e) No civil or administrative proceedings.
III. (a) Robertson Stephens Contrarian Fund, A Massachusetts Business Trust.
The Registered Investment Manager of The Robertson Stephens
Contrarian Fund is: Robertson, Stephens & Co. Investment Management,
L.P. The General Partner of Robertson, Stephens & Co. Investment
Management, L.P. is Robertson, Stephens & Company, Incorporated.
(b) 555 California Street, Suite 2600
San Francisco, CA 94104
(c) Limited Partnership
(d) No convictions in criminal proceedings.
(e) No civil or administrative proceedings.
IV. (a) Bayview Investors LTD., is a California limited partnership.
(b) 555 California Street, Suite 2600
San Francisco, CA 94104
(c) Limited Partnership
(d) No convictions in criminal proceedings.
(e) No civil or administrative proceedings.
V. (a) Robertson, Stephens & Company, Incorporated, is a California
Corporation. Robertson, Stephens & Company, Incorporated is the
General Partner of Robertson, Stephens & Company Investment
Management, L.P.
(b) 555 California Street, Suite 2600
San Francisco, CA 94104
(c) Corporation, Investment Banking.
(d) No convictions in criminal proceedings.
(e) No civil or administrative proceedings.
VI. (a) Paul H. Stephens.
(b) 555 California Street, Suite 2600
San Francisco, CA 94104
(c) Paul H. Stephens is Managing Director and Chief Investment Officer,
and a shareholder, of Robertson, Stephens & Company, Incorporated.
<PAGE>
Cusip No. 911474203 page 12 of 21
(d) No convictions in criminal proceedings.
(e) No civil or administrative proceedings.
VII. (a) Sanford R. Robertson.
(b) 555 California Street, Suite 2600
San Francisco, CA 94104
(c) Sanford R. Robertson is the Chairman of and a shareholder of
Robertson, Stephens & Company, Incorporated.
(d) No convictions in criminal proceedings.
(e) No civil or administrative proceedings.
VIII. (a) Michael G. McCaffery.
(b) 555 California Street, Suite 2600
San Francisco, CA 94104
(c) Michael G. McCaffery is the President and Chief Executive Officer,
and a shareholder, of Robertson, Stephens & Company, Incorporated.
(d) No convictions in criminal proceedings.
(e) No civil or administrative proceedings.
(b) 555 California Street, Suite 2600
San Francisco, CA 94104
(c) Limited Partnership
(d) No convictions in criminal proceedings.
(e) No civil or administrative proceedings.
IX (a) G. Randy Hecht.
(b) 555 California Street, Suite 2600
San Francisco, CA 94104
(c) G. Randy Hecht is the Executive Vice President, Chief Operating
Officer, and shareholder of Robertson, Stephens & Company,
Incorporated.
(d) No convictions in criminal proceedings.
(e) No civil or administrative proceedings.
X. (a) Kenneth R. Fitzsimmons.
<PAGE>
Cusip No. 911474203 page 13 of 21
(b) 555 California Street, Suite 2600
San Francisco, CA 94104
(c) Kenneth R. Fitzsimmons is the Managing Director, Director of Capital
Markets, and shareholder of Robertson, Stephens & Company,
Incorporated.
(d) No convictions in criminal proceedings.
(e) No civil or administrative proceedings.
ITEM 3: SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION:
The securities with respect to which this Schedule 13D is filed were
purchased by the Funds using working capital contributed by their respective
partners and shareholders.
ITEM 4: PURPOSE OF TRANSACTION:
The securities with respect to which this Schedule 13D is filed were
purchased by the Funds in the ordinary course of investment and not with the
intention nor effect of changing or influencing control of the Issuer. The
reporting persons may sell all or part or acquire additional securities of the
Issuer depending on market conditions and other economic factors.
ITEM 5: INTEREST IN SECURITIES OF THE ISSUER.
(a) (b) The aggregate number and percentage of the class of
securities identified pursuant to Item 1 of this Schedule 13D that are
beneficially owned by the persons listed in Item 2 are as follows:
No. of Shares
Name of Beneficially Percentage of
Beneficial Owner Owned Class(1)
---------------------------------------------------------------------
The Robertson Stephens Orphan Fund 501,450 (2) 8.0%
The Robertson Stephens Contrarian Fund 279,860 (4) 4.5%
Robertson Stephens & Co. Incorporated 781,310 (7) 12.5%
Paul H. Stephens 781,310 (8) 12.5%
Sanford R. Robertson 781,310 (9) 12.5%
Michael G. McCaffery 781,310 (10) 12.5%
G. Randy Hecht 781,310 (11) 12.5%
Kenneth R. Fitzsimmons 781,310 (12) 12.5%
(1) All percentages in this table are based, pursuant to Rule 13D-1(e) of the
Securities Exchange Act of 1934, as amended, on 6,225,000 shares of Common
Stock of the Issuer outstanding as of December 31, 1996.
(2) The Robertson Stephens Orphan Fund is a California limited partnership.
<PAGE>
Cusip No. 911474203 page 14 of 21
(3) The Orphan Offshore Fund is a Cayman Islands limited partnership.
(4) The Robertson Stephens Contrarian Fund is a registered investment company.
Robertson, Stephens & Co. Investment Management L.P. is the registered
investment manager for the Contrarian Fund. RS&Co., Inc. is the General
Partner of Robertson Stephens & Co. Investment Management L.P.
(7) Robertson, Stephens & Company, Inc., a California Corporation, is the
General Partner of Robertson, Stephens & Company Investment Management
L.P., and as such is deemed to have shared dispositive power over 781,310
shares of the Company.
(8) Paul H. Stephens is the Chief Investment Officer of RS&Co., Inc. and as
such may be deemed to have shared dispositive power over 781,310 shares of
the Company held by the Funds. He is also a shareholder of Robertson,
Stephens & Company Inc.
(9) Sanford R. Robertson is Chairman and a shareholder of Robertson, Stephens &
Company Inc. and as such may be deemed to have shared dispositive power
over 781,310 shares of the Company held by the Funds.
(10) Michael G. McCaffery is President and Chief Executive Officer and a
shareholder of Robertson, Stephens & Company Inc. and as such may be deemed
to have shared dispositive power over 781,310 shares of the Company held by
the Funds.
(11) G. Randy Hecht is Executive Vice President, Chief Operating Officer and a
shareholder of Robertson, Stephens & Company Inc. and as such may be deemed
to have shared dispositive power over 781,310 shares of the Company held by
the Funds.
(12) Kenneth R. Fitzsimmons is the Managing Director, Director of Capital
Markets and a shareholder of Robertson, Stephens & Company Inc. and as such
may be deemed to have shared dispositive power over 781,310 shares of the
Company held by the Funds.
(c) The following is a list of transactions by the filing parties in the
last 60 days.
Entity Date Shares Price Transaction
------ ---- ------ ----- -----------
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
TO SECURITIES OF THE ISSUER.
<PAGE>
Cusip No. 911474203 page 15 of 21
Please refer to Item 5.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
The following exhibits are filed herewith:
Exhibit A - Agreement of Joint Filing
<PAGE>
Cusip No. 911474203 page 16 of 21
ITEM 8. SIGNATURE PAGE.
After reasonable inquiry and to the best of my knowledge and belief,
the undersigned certify that the information set forth in this statement is
true, complete and correct.
Dated: 2/14/97
THE ROBERTSON STEPHENS ORPHAN FUND, A CALIFORNIA LIMITED PARTNERSHIP.
By Robertson, Stephens & Company, L.P.
By Robertson, Stephens & Company, Incorporated
By: Paul H. Stephens*
-----------------
Paul H. Stephens
Managing Director and Chief Investment Officer
THE ROBERTSON STEPHENS CONTRARIAN FUND, A REGISTERED INVESTMENT COMPANY
By Robertson, Stephens & Company, L.P.
By Robertson, Stephens & Company, Incorporated
By: Paul H. Stephens*
-----------------
Paul H. Stephens
Managing Director and Chief Investment Officer
By: Paul H. Stephens*
-----------------
Paul H. Stephens
Managing Director and Chief Investment Officer
ROBERTSON, STEPHENS & COMPANY, INCORPORATED
By: Paul H. Stephens*
-----------------
Paul H. Stephens
Managing Director and Chief Investment Officer
Paul H. Stephens*
-----------------
Paul H. Stephens
Sanford R. Robertson*
---------------------
Sanford R. Robertson
Michael G. McCaffery*
---------------------
Michael G. McCaffery
G. Randy Hecht*
---------------
G. Randy Hecht
<PAGE>
Cusip No. 911474203 page 17 of 21
Kenneth R. Fitzsimmons*
-----------------------
Kenneth R. Fitzsimmons
*By: /s/ Robert C. Greenwood
------------------------------
Robert C. Greenwood
Pursuant to Power of Attorney
Previously Filed
<PAGE>
Cusip No. 911474203 page 18 of 21
EXHIBIT A
AGREEMENT OF JOINT FILING
The undersigned hereby agree that they are filing jointly pursuant to Rule
13d-1(f)(1) of the Act of the Statement dated January 31, 1997 containing the
information required by Schedule 13D, for the Common Stock of GigaTronics held
by The Robertson Stephens Orphan Fund, Bayview Investors, Ltd., Robertson,
Stephens & Company, Investment Management L.P., and Robertson, Stephens &
Company, Incorporated.
Dated: February 14, 1997
THE ROBERTSON STEPHENS ORPHAN FUND, A CALIFORNIA LIMITED PARTNERSHIP.
By Robertson, Stephens & Company, L.P.
By Robertson, Stephens & Company, Incorporated
By: Paul H. Stephens*
-----------------
Paul H. Stephens
Managing Director and Chief Investment Officer
ROBERTSON, STEPHENS & COMPANY, INCORPORATED
By: Paul H. Stephens*
-----------------
Paul H. Stephens
Managing Director and Chief Investment Officer
Paul H. Stephens*
-----------------
Paul H. Stephens
Sanford R. Robertson*
---------------------
Sanford R. Robertson
Michael G. McCaffery*
---------------------
Michael G. McCaffery
G. Randy Hecht*
---------------
G. Randy Hecht
Kenneth R. Fitzsimmons*
-----------------------
Kenneth R. Fitzsimmons
*By /s/ Robert C. Greenwood
-----------------------
Robert C. Greenwood
Pursuant to Power of Attorney
Previously Filed
