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OMB APPROVAL
OMB Number:3235-0145
Expires: December 31, 1997
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
Invivo Corporation
(Name of Issuer)
Common Stock
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(Title of Class of Securities)
46185810
(CUSIP Number)
Eric M. Sippel, Esq.
Shartsis Friese & Ginsburg LLP
One Maritime Plaza, 18th Floor
San Francisco, CA 94111
(415) 421-6500
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(Name, Address and Telephone Number of Person Authorized to Receive Notices
and Communications)
July 10, 1997
(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 /XX/. (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).
SEC 1746 (12-91)
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SCHEDULE 13D
CUSIP No. 46185810 Page 2 of 10 Pages
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1 NAME OF REPORTING PERSON
SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON
Botti Brown Asset Management, LLC
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /XX/
(b) / /
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
AF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(E) / /
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
California
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NUMBER OF 7 SOLE VOTING POWER
SHARES -0-
BENEFICIALLY --------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 235,450
REPORTING --------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH -0-
--------------------------------------------------
10 SHARED DISPOSITIVE POWER
235,450
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
235,450
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.3%
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14 TYPE OF REPORTING PERSON*
IA
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
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SCHEDULE 13D
CUSIP No. 46185810 Page 3 of 10 Pages
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1 NAME OF REPORTING PERSON
SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON
Donald S. Brown
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /XX/
(b) / /
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
AF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(E) / /
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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NUMBER OF 7 SOLE VOTING POWER
SHARES -0-
BENEFICIALLY --------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 235,450
REPORTING --------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH -0-
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10 SHARED DISPOSITIVE POWER
235,450
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
235,450
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.3%
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14 TYPE OF REPORTING PERSON*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
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SCHEDULE 13D
CUSIP No. 46185810 Page 4 of 10 Pages
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1 NAME OF REPORTING PERSON
SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON
John D. Botti
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /XX/
(b) / /
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
AF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(E) / /
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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NUMBER OF 7 SOLE VOTING POWER
SHARES 1,000
BENEFICIALLY --------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 235,450
REPORTING --------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 1,000
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10 SHARED DISPOSITIVE POWER
235,450
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
236,450
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.3%
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14 TYPE OF REPORTING PERSON*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
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SCHEDULE 13D
CUSIP No. 46185810 Page 5 of 10 Pages
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1 NAME OF REPORTING PERSON
SS OR IRS IDENTIFICATION NO. OF ABOVE PERSON
Spring Point Partners, L.P.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /XX/
(b) / /
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(E) / /
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
California
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NUMBER OF 7 SOLE VOTING POWER
SHARES -0-
BENEFICIALLY --------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 175,750
REPORTING --------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH -0-
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10 SHARED DISPOSITIVE POWER
175,750
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
175,750
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
/ /
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.4%
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14 TYPE OF REPORTING PERSON*
PN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
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SCHEDULE 13D
CUSIP No. 46185810 Page 6 of 10 Pages
ITEM 1. SECURITY AND ISSUER.
This statement relates to shares of Common Stock (the "Stock") of Invivo
Corporation, a Delaware corporation ("Invivo"). The principal executive
office of Invivo is located at 4900 Hopyard Road, Suite 210, Pleasanton,
California 94588.
ITEM 2. IDENTITY AND BACKGROUND.
The persons filing this statement and the persons enumerated in Instruction
C of Schedule 13D and, where applicable, their respective places of
organization, general partners, directors, executive officers and controlling
persons, and the information regarding them, are as follows:
(a) Botti Brown Asset Management, LLC, a California limited liability
company ("BBAM"); Donald S. Brown ("Brown"); John D. Botti ("Botti"); and
Spring Point Partners, L.P., a California limited partnership ("Spring").
(b) The business address of BBAM, Brown, Botti and Spring is
655 Montgomery Street, Suite 600, San Francisco, California 94111.
(c) Brown and Botti are the managers of BBAM which is an investment
adviser to, and the general partner of, Spring.
(d) During the last five years, none of such persons has been convicted
in a criminal proceeding (excluding traffic violations or similar
misdemeanors).
(e) During the last five years, none of such persons was a party to a
civil proceeding of a judicial or administrative body of competent
jurisdiction and as a result of such proceeding 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) Brown and Botti are citizens of the United States of America.
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SCHEDULE 13D
CUSIP No. 46185810 Page 7 of 10 Pages
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
The source and amount of funds used in purchasing the Stock were as follows:
Purchaser Source of Funds Amount
BBAM Capital Under Management (1) $2,562,319.90
Spring Working Capital $2,018,670.60
Botti Personal Funds (2) $13,750.00
(1) Includes funds of Spring and other investment advisory clients of BBAM
invested in Stock.
(2) One thousand shares of the Stock are owned by Botti and his wife,
Heather Hughes.
ITEM 4. PURPOSE OF TRANSACTION.
The sole purpose of the acquisitions of the Stock reported herein was and is
for investment.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
The total ownership of the Stock by the filing group at the date hereof is
236,450 shares, which represents 7.3% of the total shares of Stock
outstanding.
The beneficial ownership of the Stock of the persons named in Item 2 of this
statement is as follows at the date hereof:
Aggregate
Beneficially
Owned Voting Power Dispositive Power
Name Number Percent Sole Shared Sole Shared
BBAM 235,450 7.3 -0- 235,450 -0- 235,450
Botti 236,450 7.3 1,000 235,450 1,000 235,450
Brown 235,450 7.3 -0- 235,450 -0- 235,450
Spring 175,750 5.4 -0- 175,750 -0- 175,750
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SCHEDULE 13D
CUSIP No. 46185810 Page 8 of 10 Pages
The persons filing this statement effected the following transactions in the
Stock on the dates indicated, and such transactions are the only transactions
in the Stock by the persons filing this statement since May 17, 1997:
Purchase Number Price
Name or Sale Date of Shares Per Share
Spring P 07-10-1997 37,350 7.125
BBAM P 07-10-1997 3,000 7.125
BBAM P 07-10-1997 7,000 7.125
BBAM P 07-10-1997 5,500 7.125
BBAM P 07-10-1997 6,000 7.125
BBAM P 07-10-1997 5,000 7.125
BBAM P 07-10-1997 2,500 7.125
BBAM P 07-10-1997 2,500 7.125
BBAM P 07-09-1997 3,000 6.625
BBAM P 07-07-1997 3,000 6.500
All transactions were executed through the NASDAQ National Market System.
ITEM. 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH
RESPECT TO SECURITIES OF THE ISSUER.
BBAM is the general partner of Spring pursuant to a limited partnership
agreement providing to BBAM the authority, among other things, to invest
the funds of Spring in the Stock, to vote and dispose of those securities
and to file this statement on behalf of Spring. Pursuant to such limited
partnership agreement, the general partner of Spring is entitled to fees
based on assets under management and realized and unrealized gains, if
certain conditions are met. Pursuant to investment management agreements,
BBAM is authorized, among other things, to invest funds of its various
investment advisory clients, and to vote and dispose of those securities.
Such investment management agreements may be terminated by either party on
thirty days' notice, and provide for fees payable to BBAM based on assets
under management.
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SCHEDULE 13D
CUSIP No. 46185810 Page 9 of 10 Pages
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
A. Agreement Regarding Joint Filing of Statement on Schedule 13D or 13G
(including power of attorney).
SIGNATURES
After reasonable inquiry and to the best of our knowledge, we certify
that the information set forth in this statement is true, complete and
correct.
DATED: July 16, 1997.
BOTTI BROWN ASSET MANAGEMENT, LLC SPRING POINT PARTNERS, L.P.
By: /s/ John D. Botti By: Botti Brown Asset Management,
John D. Botti, Manager LLC
General Partner
By: /s/ Donald S. Brown By: /s/ Donald S. Brown
Donald S. Brown, Manager Donald S. Brown, Manager
By: /s/ John D. Botti
John D. Botti, Manager
/s/ Donald S. Brown
Donald S. Brown
/s/ John D. Botti
John D. Botti
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SCHEDULE 13D
CUSIP No. 46185810 Page 10 of 10 Pages
EXHIBIT A
AGREEMENT REGARDING JOINT FILING
OF STATEMENT ON SCHEDULE 13D OR 13G
The undersigned agree to file jointly with the Securities and Exchange
Commission (the "SEC") any and all statements on Schedule 13D or Schedule 13G
(and any amendments or supplements thereto) required under section 13(d) of
the Securities Exchange Act of 1934, as amended, in connection with purchases
by the undersigned of securities of Invivo Corporation, a Delaware
corporation. For that purpose, the undersigned hereby constitute and appoint
Botti Brown Asset Management, LLC, a California limited liability company, as
their true and lawful agent and attorney-in-fact, with full power and
authority for and on behalf of the undersigned to prepare or cause to be
prepared, sign, file with the SEC and furnish to any other person all
certificates, instruments, agreements and documents necessary to comply with
section 13(d) and section 16(a) of the Securities Exchange Act of 1934, as
amended, in connection with said purchases, and to do and perform every act
necessary and proper to be done incident to the exercise of the foregoing
power, as fully as the undersigned might or could do if personally present.
DATED: July 16, 1997.
BOTTI BROWN ASSET MANAGEMENT, LLC SPRING POINT PARTNERS, L.P.
By: /s/ John D. Botti By: Botti Brown Asset Management,
John D. Botti, Manager LLC
General Partner
By: /s/ Donald S. Brown By: /s/ Donald S. Brown
Donald S. Brown, Manager Donald S. Brown, Manager
By: /s/ John D. Botti
John D. Botti, Manager
/s/ Donald S. Brown
Donald S. Brown
/s/ John D. Botti
John D. Botti
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