<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
AMENDMENT NO. 1
INFORMATION STATEMENT PURSUANT TO RULE 13D-1 AND 13D-2
UNDER THE SECURITIES EXCHANGE ACT OF 1934
NEOPATH, INC.
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(Name of Issuer)
COMMON STOCK, $.01 PAR VALUE PER SHARE
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(Title of Class of Securities)
640517-10-8
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(CUSIP Number of Class of Securities)
Check the following box if a fee is being paid with this 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 less than five percent of
such class.) (See Rule 13d-7.)
Page 1 of 12 Pages
An Index of Exhibits appears on Page 12
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SCHEDULE 13G
CUSIP NO. 640517-10-8 AMENDMENT NO. 1 PAGE 2 OF 12 PAGES
- --------------------------------------------------------------------------------
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
FRAZIER MANAGEMENT, L.L.C. FEIN: 91-1678546
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (A) [ ]
(B) [ ]
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(3) SEC USE ONLY
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(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Organized under the laws of the State of Delaware
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(5) SOLE VOTING POWER
NUMBER OF 0
SHARES --------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
OWNED BY 147,924
EACH --------------------------------------------------------
REPORTING (7) SOLE DISPOSITIVE POWER
PERSON WITH 0
--------------------------------------------------------
(8) SHARED DISPOSITIVE POWER
147,924
--------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
147,924
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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)
1.08%
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(12) TYPE OF REPORTING PERSON*
LLC
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 2 of 12 Pages
An Index of Exhibits appears on Page 12
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SCHEDULE 13G
CUSIP NO. 640517-10-8 AMENDMENT NO. 1 PAGE 3 OF 12 PAGES
- --------------------------------------------------------------------------------
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
FRAZIER PORTFOLIO FUND, L.P. FEIN: 91-1675192
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (A) [ ]
(B) [ ]
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(3) SEC USE ONLY
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(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Organized under the laws of the State of Delaware
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(5) SOLE VOTING POWER
NUMBER OF 0
SHARES --------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
OWNED BY 80
EACH --------------------------------------------------------
REPORTING (7) SOLE DISPOSITIVE POWER
PERSON WITH 0
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(8) SHARED DISPOSITIVE POWER
80
--------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
80
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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)
0.0006%
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(12) TYPE OF REPORTING PERSON*
LP
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 3 of 12 Pages
An Index of Exhibits appears on Page 12
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SCHEDULE 13G
CUSIP NO. 640517-10-8 AMENDMENT NO. 1 PAGE 4 OF 12 PAGES
- --------------------------------------------------------------------------------
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
FRAZIER & COMPANY, L.P. FEIN: 91-1529429
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (A) [ ]
(B) [ ]
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(3) SEC USE ONLY
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(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Organized under the laws of the State of Delaware
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(5) SOLE VOTING POWER
NUMBER OF 0
SHARES --------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
OWNED BY 134,734
EACH --------------------------------------------------------
REPORTING (7) SOLE DISPOSITIVE POWER
PERSON WITH 0
--------------------------------------------------------
(8) SHARED DISPOSITIVE POWER
134,734
--------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
134,734
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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)
0.98%
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(12) TYPE OF REPORTING PERSON*
LP
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 4 of 12 Pages
An Index of Exhibits appears on Page 12
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SCHEDULE 13G
CUSIP NO. 640517-10-8 AMENDMENT NO. 1 PAGE 5 OF 12 PAGES
- --------------------------------------------------------------------------------
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
FRAZIER & COMPANY, INC. FEIN: 91-1526760
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (A) [ ]
(B) [ ]
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(3) SEC USE ONLY
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(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Organized under the laws of the State of Washington
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(5) SOLE VOTING POWER
NUMBER OF 0
SHARES --------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
OWNED BY 147,924
EACH --------------------------------------------------------
REPORTING (7) SOLE DISPOSITIVE POWER
PERSON WITH 0
--------------------------------------------------------
(8) SHARED DISPOSITIVE POWER
147,924
--------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
147,924
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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)
1.08%
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(12) TYPE OF REPORTING PERSON*
CO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 5 of 12 Pages
An Index of Exhibits appears on Page 12
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SCHEDULE 13G
CUSIP NO. 640517-10-8 AMENDMENT NO. 1 PAGE 6 OF 12 PAGES
- --------------------------------------------------------------------------------
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Alan D. Frazier SS####-##-####
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (A) [ ]
(B) [ ]
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(3) SEC USE ONLY
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(4) CITIZENSHIP OR PLACE OF ORGANIZATION
United States Citizen
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(5) SOLE VOTING POWER
NUMBER OF 9,898
SHARES --------------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER
OWNED BY 147,924
EACH --------------------------------------------------------
REPORTING (7) SOLE DISPOSITIVE POWER
PERSON WITH 9,898
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(8) SHARED DISPOSITIVE POWER
147,924
--------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
157,822
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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)
1.16%
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(12) TYPE OF REPORTING PERSON*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 6 of 12 Pages
An Index of Exhibits appears on Page 12
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AMENDMENTS TO SCHEDULE 13G
ITEM 1(A). NAME OF ISSUER.
This Schedule 13G relates to NeoPath, Inc., a Delaware corporation (the
"Company").
ITEM 1(B). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
The Company's principal executive offices are located at 8271 - 154th
Ave. NE, Redmond, Washington 98052.
ITEM 2(A). NAME OF PERSONS FILING.
This Schedule 13G relates to each of the following persons:
o Frazier Management, L.L.C., a limited liability company
("FMLLC")
o Frazier Portfolio Fund, L.P., a limited partnership ("FPFLP")
o Frazier & Company L.P., a limited partnership ("F&C LP")
o Frazier & Company, Inc., a Washington corporation ("F&C Inc.")
o Alan D. Frazier, as a director and sole shareholder of
F&C Inc.; and
The general partner of F&C LP and FPFLP is FMLLC. The managing member
of FMLLC is F&C Inc. The sole shareholder of F&C Inc. is Alan D. Frazier.
ITEM 2(B). ADDRESS OF PRINCIPAL BUSINESS OFFICE.
The business address of each of the reporting persons is 601 Union
Street, Suite 2110, Seattle, Washington 98101.
ITEM 2(C). CITIZENSHIP.
FPFLP and F&C LP are each limited partnerships organized under the laws
of the State of Delaware. FMLLC is a limited liability company organized under
the laws of the State of Delaware. F&C Inc.is a corporation organized under the
laws of the State of Washington. Mr. Frazier is a United States citizen.
ITEM 2(D). TITLE OF CLASS OF SECURITIES.
This Schedule 13G relates to the Company's common stock, $.01 par value
per share (the "Common Stock").
Page 7 of 12 Pages
An Index of Exhibits appears on Page 12
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ITEM 2(E). CUSIP NUMBER.
The CUSIP Number for the Company's Common Stock is 640517-10-8.
ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULES 13D-1(B) OR 13D-2(B),
CHECK WHETHER THE PERSON FILING IS A:
(a) [ ] Broker or dealer registered under Section 15 of the Act,
(b) [ ] Bank as defined in Section 3(a)(6) of the Act,
(c) [ ] Insurance Company as defined in Section 3(a)(19) of the Act,
(d) [ ] Investment Company registered under Section 8 of the
Investment Company Act,
(e) [ ] Investment Advisor registered under Section 203 of the
Investment Advisors Act of 1940,
(f) [ ] Employee Benefit Plan, Pension Fund which is subject to the
provisions of the Employee Retirement Income Security Act of
1974 or Endowment Fund,
(g) [ ] Parent Holding Company, in accordance with
Rule 13d-1(b)(ii)(G),
(h) [ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(H).
NOT APPLICABLE.
ITEM 4. OWNERSHIP.
The following describes the ownership of Common Stock by FPFLP as of
December 31, 1996:
(a) Amount beneficially owned: 80 (1)
(b) Percent of class: 0.0006%
(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 to direct the vote:
80 (1)(2)
(iii) Sole power to dispose or to direct the
disposition of: 0
(iv) Shared power to dispose or to direct the
disposition of: 80 (1)(2)
Page 8 of 12 Pages
An Index of Exhibits appears on Page 12
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(1) Represents shares held of record by FPFLP of which FMLLC is
the general partner.
(2) Power to vote or to direct the vote of, and power to dispose
or to direct the disposition of, the reported shares is deemed
to be shared among the each of FPFLP, FMLLC, F&C Inc. and Mr.
Frazier. Each of such persons denies beneficial ownership of
such shares except to the extent of such person's respective
pecuniary interest.
The following describes the ownership of Common Stock by F&C LP as of
December 31, 1996:
(a) Amount beneficially owned: 134,734 (1)
(b) Percent of class: 0.98%
(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 to direct the vote:
134,734 (1)(2)
(iii) Sole power to dispose or to direct the
disposition of: 0
(iv) Shared power to dispose or to direct the
disposition of: 134,734(1)(2)
(1) Includes 7,500 shares subject to purchase upon the exercise of
vested options to purchase Common Stock and 115,289 shares
subject to purchase upon the exercise of vested stock purchase
warrants held of record by F&C LP of which FMLLC is the
general partner.
(2) Power to vote or to direct the vote of, and power to dispose
or to direct the disposition of, the reported shares is deemed
to be shared among the each of F&C LP, FMLLC, F&C Inc. and Mr.
Frazier. Each of such persons denies beneficial ownership of
such shares except to the extent of such person's respective
pecuniary interest.
The following describes the ownership of Common Stock by FMLLC, F&C
Inc., and Mr. Frazier as of December 31, 1996:
(a) Amount beneficially owned: 157,822 (1)(3)
(b) Percent of class: 1.16%
(c) Number of shares as to which such person has:
(i) Sole power to vote or direct the vote: 9,898 (2)
(ii) Shared power to vote or to direct the vote:
147,924 (1)(3)
(iii) Sole power to dispose or to direct the
disposition of: 9,898(2)
Page 9 of 12 Pages
An Index of Exhibits appears on Page 12
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(iv) Shared power to dispose or to direct the
disposition of: 147,924(1)(3)
(1) Includes (i) 80 shares of Common Stock held of record by FPFLP
of which FMLLC is the general partner and (ii) 7,500 shares
subject to purchase upon the exercise of vested options to
purchase Common Stock and 115,289 shares subject to purchase
upon the exercise of vested stock purchase warrants held of
record by F&C LP of which FMLLC is the general partner. F&C
Inc. is the managing member of FMLLC. Mr. Frazier is the sole
shareholder of F&C Inc., and may be deemed to be the
beneficial owner of stock beneficially held by such limited
partnerships and limited liablity company. Each of such
persons denies beneficial ownership of such shares except to
the extent of such person's respective pecuniary interest.
(2) Represents shares of Common Stock held of record by Alan D.
Frazier.
(3) Power to vote or to direct the vote of, and power to dispose
or to direct the disposition of, the reported shares is deemed
to be shared among FMLLC, F&C Inc. and Mr. Frazier.
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 [ X ].
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.
Not applicable.
Page 10 of 12 Pages
An Index of Exhibits appears on Page 12
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SIGNATURE
The undersigned hereby agree that this Schedule is filed on behalf of
each of them and, after reasonable inquiry and to best of their knowledge and
belief, hereby certify that the information set forth in this statement is true,
complete and correct.
Dated: February 5, 1997
FRAZIER PORTFOLIO FUND, L.P.
By: Frazier Management, L.L.C.
Its General Partner
By: Frazier & Company, Inc.
Its Managing Member
By //s// Alan D. Frazier
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Alan D. Frazier, President
FRAZIER & COMPANY L.P.
By: Frazier Management, L.L.C.
Its General Partner
By: Frazier & Company, Inc.
Its Managing Member
By //s// Alan D. Frazier
--------------------------------------
Alan D. Frazier, President
FRAZIER MANAGEMENT, L.L.C.
By: Frazier & Company, Inc.
Its Managing Member
By //s// Alan D. Frazier
--------------------------------------
Alan D. Frazier, President
FRAZIER & COMPANY, INC.
By //s// Alan D. Frazier
--------------------------------------
Alan D. Frazier, President, Director
and Shareholder
Page 11 of 12 Pages
An Index of Exhibits appears on Page 12
<PAGE> 12
EXHIBIT INDEX
Statement required by reporting persons pursuant to
Rule 13d-1(f)(1) (see signature page).
Page 12 of 12 Pages
An Index of Exhibits appears on Page 12
