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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
(RULE 13d-102)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULES 13d-1(b) AND (c) AND AMENDMENTS THERETO FILED
PURSUANT TO 13D-2(b)
(AMENDMENT NO. __)*
CERAMICS PROCESS SYSTEMS CORPORATION
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(Name of Issuer)
COMMON STOCK, $0.01 PAR VALUE
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(Title of Class of Securities)
156905101
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(CUSIP Number)
January 19, 1998
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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:
|_| Rule 13d-1(b)
|X| Rule 13d-(c)
|_| Rule 13d-1(d)
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* 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 the
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).
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SCHEDULE 13G
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CUSIP NO. 156905101 PAGE 2 OF 6 PAGES
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1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
AMPERSAND SPECIALTY MATERIALS VENTURES LIMITED PARTNERSHIP
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
NOT APPLICABLE (a) |_|
(b) |_|
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
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5 SOLE VOTING POWER
NUMBER OF
SHARES 0
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
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6 SHARED VOTING POWER
1,837,810
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7 SOLE DISPOSITIVE POWER
0
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8 SHARED DISPOSITIVE POWER
1,837,810
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,837,810
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
|_|
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
17.38%
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12 TYPE OF REPORTING PERSON*
PN
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SCHEDULE 13G
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CUSIP NO. 156905101 PAGE 3 OF 6 PAGES
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ITEM 1(a). NAME OF ISSUER:
Ceramics Process Systems Corporation
ITEM 1(b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
111 South Worcester Street, P. O. Box 338
Chartley, MA 02712
ITEM 2(a). NAME OF PERSON FILING:
Ampersand Specialty Materials Ventures Limited Partnership
ITEM 2(b). ADDRESS OF PRINCIPAL OFFICES OR, IF NONE, RESIDENCE:
55 William Street, suite 240
Wellesley, MA 02181
ITEM 2(c). CITIZENSHIP:
Ampersand Specialty Materials Ventures Limited Partnership is
established under the laws of the State of Delaware.
ITEM 2(d). TITLE OF CLASS OF SECURITIES:
Common Stock, $0.01 par value
ITEM 2(e). CUSIP NUMBER:
156905101
ITEM 3. IF THE STATEMENT IS BEING FILED PURSUANT TO RULE 13d-1(b), or
13d-2(b), CHECK WHETHER THE PERSON FILING IS A:
Not Applicable
ITEM 4. OWNERSHIP.
(a) Amount beneficially owned:
Ampersand Specialty Materials Ventures Limited Partnership ("ASMV") owns
1,837,810 shares.
(b) Percent of class:
17.38%
Percentage calculation assumes 10,574,236 shares outstanding as of the
date hereof; this figure includes 8,736,426 shares outstanding on
March 28, 1998 as reported by the Issuer in its Quarterly Report Form 10-Q
for the quarterly period ended March 28, 1998 and 1,837,810 shares issued
to the Reporting Person upon conversion of 10% Convertible Subordinated
Notes on June 15, 1998.
(c) Number of shares as to which such person has:
(i) Sole power to vote or direct the vote:0
(ii) Shared power to vote or direct the vote: 1,837,810
(iii) Sole power to dispose or to direct the disposition of: 0
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SCHEDULE 13G
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CUSIP NO. 156905101 PAGE 4 OF 6 PAGES
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(iv) Shared power to dispose or to direct the disposition of:
1,837,810
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS.
If this statement is being filed to report the fact that as of the date
hereof the reporting person has ceased to be the beneficial owner of more
than five percent of the class of securities, check the following [ ].
Not Applicable
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON.
Not Applicable
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE
SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY.
Not Applicable
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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SCHEDULE 13G
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CUSIP NO. 156905101 PAGE 5 OF 6 PAGES
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SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
AMPERSAND SPECIALTY MATERIALS
VENTURES LIMITED PARTNERSHIP
By: ASMV Management Company Limited
Partnership, its general partner
By: ASMV MCLP LLP, its general partner
Dated: June 29, 1998 By:/s/ Richard A. Charpie
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Richard A. Charpie
Managing General Partner
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SCHEDULE 13G
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CUSIP NO. 156905101 PAGE 6 OF 6 PAGES
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EXHIBIT A
INDIRECT BENEFICIAL GENERAL PARTNERS OWNERSHIP
GENERAL PARTNERS OF ASMV MCLP LLP
Richard A. Charpie, Managing General Partner
Peter D. Parker, General Partner
Robert A. Charpie, General Partner
Charles D. Yie, General Partner
