1934 ACT FORMS
II. SELECTED SCHEDULES UNDER
THE SECURITIES EXCHANGE ACT OF 1934
A. SCHEDULE 13D
INFORMATION REQUIREMENTS FOR FILINGS UPON ACQUISITION OF
FIVE PERCENT OF A CLASS OF EQUITY SECURITIES SUBJECT TO
THE REPORTING REQUIREMENTS OF THE 1934 ACT
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 1)*
DRYPERS CORPORATION
(Name of Issuer)
Common Stock, $.001 par value
Senior Convertible Cumulative 7.5% PReferred Stock
(Title of Class of Securities)
262497308
(CUSIP Number)
Walter V. Klemp
1415 West Loop North
Houston, Texas 77055
(713) 682-6848
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communication)
_____________________________________________________
(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 [ ].
*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).
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 ownerhship 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.
<PAGE>
CUSIP NO. 262497308 Page 2 of 8 Pages
- --------------------------------------------------------------------------------
NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
1
Triad Ventures Limited II, L.P.
- --------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP *
2 (a)
(b) X
- --------------------------------------------------------------------------------
SEC USE ONLY
3
- --------------------------------------------------------------------------------
SOURCE OF FUNDS *
4
WC
- --------------------------------------------------------------------------------
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e)
5
NOT APPLICABLE
- --------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
- --------------------------------------------------------------------------------
NUMBER OF SHARES SOLE VOTING POWER
BENEFICIALLY 7
OWNED -0-
-----------------------------------------------------
BY EACH SHARED VOTING POWER
REPORTING PERSON 8 21,525 common shares + 350,000 shares upon
WITH conversion for total of 371,525 shares
-----------------------------------------------------
SOLE DISPOSITIVE POWER
9
-0-
-----------------------------------------------------
SHARED DISPOSITIVE POWER
10 21,525 common shares + 350,000 shares upon
conversion for total of 371,525 shares
- --------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
21,525 common shares + 350,000 shares upon conversion for total
of 371,525 shares
- --------------------------------------------------------------------------------
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES *
12
NOT APPLICABLE
- --------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
5.31%
- --------------------------------------------------------------------------------
TYPE OF REPORTING PERSON *
14
PN
- --------------------------------------------------------------------------------
* See Instructions
<PAGE>
CUSIP NO. 262497308 Page 3 of 8 Pages
- --------------------------------------------------------------------------------
NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
1
LLoyd M. Bentsen III
- --------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP *
2 (a)
(b) X
- --------------------------------------------------------------------------------
SEC USE ONLY
3
- --------------------------------------------------------------------------------
SOURCE OF FUNDS *
4
WC
- --------------------------------------------------------------------------------
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e)
5
NOT APPLICABLE
- --------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
United States
- --------------------------------------------------------------------------------
NUMBER OF SHARES SOLE VOTING POWER
BENEFICIALLY 7
OWNED -0-
-----------------------------------------------------
BY EACH SHARED VOTING POWER
REPORTING PERSON 8 21,525 common shares + 350,000 shares upon
WITH conversion for total of 371,525 shares
-----------------------------------------------------
SOLE DISPOSITIVE POWER
9
-0-
-----------------------------------------------------
SHARED DISPOSITIVE POWER
10 21,525 common shares + 350,000 shares upon
conversion for total of 371,525 shares
- --------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
21,525 common shares + 350,000 shares upon conversion for total
of 371,525 shares
- --------------------------------------------------------------------------------
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES *
12
NOT APPLICABLE
- --------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
5.31%
- --------------------------------------------------------------------------------
TYPE OF REPORTING PERSON *
14
IN
- --------------------------------------------------------------------------------
* See Instructions
<PAGE>
CUSIP NO. 262497308 Page 4 of 8 Pages
- --------------------------------------------------------------------------------
NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
1
Mary D. Bass
- --------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP *
2 (a)
(b) X
- --------------------------------------------------------------------------------
SEC USE ONLY
3
- --------------------------------------------------------------------------------
SOURCE OF FUNDS *
4
WC
- --------------------------------------------------------------------------------
CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEMS 2(d) OR 2(e)
5
NOT APPLICABLE
- --------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
United States
- --------------------------------------------------------------------------------
NUMBER OF SHARES SOLE VOTING POWER
BENEFICIALLY 7
OWNED -0-
-----------------------------------------------------
BY EACH SHARED VOTING POWER
REPORTING PERSON 8 21,525 common shares + 350,000 shares upon
WITH conversion for total of 371,525 shares
-----------------------------------------------------
SOLE DISPOSITIVE POWER
9
-0-
-----------------------------------------------------
SHARED DISPOSITIVE POWER
10 21,525 common shares + 350,000 shares upon
conversion for total of 371,525 shares
- --------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
21,525 common shares + 350,000 shares upon conversion for total
of 371,525 shares
- --------------------------------------------------------------------------------
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES *
12
NOT APPLICABLE
- --------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
5.31%
- --------------------------------------------------------------------------------
TYPE OF REPORTING PERSON *
14
IN
- --------------------------------------------------------------------------------
* See Instructions
<PAGE>
ITEM 1.
(a) Name of Issuer:
Drypers Corporation
(b) Address of Issuer's Principal Executive Offices:
1415 West Loop North
Houston, Texas 77055
This statement relates to the Common Stock, $.001 par value per share, of
the Issuer.
ITEM 2.
(a) Name of Persons Filing:
Triad Ventures Limited II, L.P.
Lloyd M. Bentsen III
Mary D. Bass
THIS SCHEDULE IS JOINTLY FILED ON BEHALF OF ALL OF THE ABOVE NAMED
PERSONS.
(b) Address of Principal Business Office or, if none, Residence:
4600 Post Oak Place, Suite 100
Houston, Texas 77027
(c) Principal business or present principal occupation:
Venture capital
(d) Whether or not, during the last five years such person has been
convicted in a criminal proceeding (excluding traffic violations or
similar misdemeanors) and if so, give the dates, nature of
conviction, name and location of court, any penalty imposed, or
other disposition of the case:
Not applicable.
(e) Whether or not, during the last five years, such person 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; and, if so, identify and describe
such proceedings and summarize the terms of such judgment, decree or
final order:
Not Applicable.
(f) Citizenship:
Triad Ventures Limited II, L.P. was formed in Delaware. Each of the
two individuals are United States citizens.
Page 5 of 8 Pages
<PAGE>
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
The source of funds for this purchase and for all prior purchases was
operating funds on deposit in the Partnership accounts. The total amount
of consideration for this purchase was $350,000. The amount of
consideration paid for prior purchases was as follows:
Purchased 80,248 shares for $320,992
Purchased 28,600 shares for $114,400
Purchased 27,558 shares from the conversion of preferred stock
originally purchased for $330,696
Purchased 23,595 shares from the conversion of a note originally
funded in the amount of $283,140
Exercised warrants for 27,558 shares, consideration consisted of
conversion of preferred stock originally purchased for $110,232
Exercised warrants for 36,465 shares, consideration consisted of
conversion of a note originally funded in the amount of $145,860
ITEM 4. PURPOSE OF TRANSACTION
Securities were acquired for investment purposes.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
(a) Amount Beneficially Owned
Triad Ventures Limited II, L.P. beneficially owns 371,525 shares,
350,000 shares of which may be acquired upon conversion of Senior
Convertible Cumulative 7.5% Preferred Stock. Lloyd M. Bentsen III
and Mary D. Bass are general partners of Triad Ventures Limited II,
L.P. and as such may be deemed to be the beneficial owners of the
21,525 shares of common stock and the 3,500 shares of Senior
Convertible Cumulative 7.5% Preferred Stock convertible to 350,000
shares of common stock held by Triad Ventures Limited II, L.P. Both
Mr. Bentsen and Ms. Bass disclaim such beneficial ownership.
(b) Percent of Class
Triad Ventures Limited II, L.P. 5.31%
Lloyd M. Bentsen III 5.31%
Mary D. Bass 5.31%
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote
Triad Ventures Limited II, L.P. -0-
Lloyd M. Bentsen III -0-
Mary D. Bass -0-
(ii) shared power to vote or to direct the vote
Triad Ventures Limited II, L.P. 371,525
Lloyd M. Bentsen III 371,525
Mary D. Bass 371,525
Page 6 of 8 Pages
<PAGE>
(iii) sole power to dispose or to direct the disposition of
Triad Ventures Limited II, L.P. -0-
Lloyd M. Bentsen III -0-
Mary D. Bass -0-
(iv) shared power to dispose or to direct the disposition of
Triad Ventures Limited II, L.P. 371,525
Lloyd M. Bentsen III 371,525
Mary D. Bass 371,525
(d) Any transactions in the class of securities reported on that were
effected during the past sixty days or since the filing of the most
recent Schedule 13D
08/07/96 40,000 shares (total)
10/04/96 2,500 shares
10/23/96 55,000 shares (total)
10/25/96 10,000 shares
10/29/96 20,000 shares
11/06/96 10,000 shares
12/13/96 25,000 shares
(e) Any other person known to have the right to receive or the power to
direct the receipt of dividends from, or the proceeds from the sale
of such securities
NONE
(f) State the date on which the reporting person(s) ceased to be the
beneficial owner of more than five percent of the class of
securities
NOT APPLICABLE
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO
SECURITIES OF THE ISSUER
NOT APPLICABLE
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
Exhibit 1 - Agreement For Joint Filing.
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.
January 7th, 1997
TRIAD VENTURES LIMITED II, L.P.
By: /s/ MARY D. BASS
Mary D. Bass
General Partner
Page 7 of 8 Pages
<PAGE>
EXHIBIT 1
AGREEMENT FOR JOINT FILING PURSUANT TO RULE
13D-1(F)(1) UNDER THE SECURITIES ACT OF 1934
Pursuant to 17 CFR 240.13D-1(F)(1) under the Securities Act of 1934, the
undersigned, by their signature affixed hereto, do hereby agree in writing that
this Schedule 13D be and is filed on behalf of each of them. The undersigned
further recognize that each of them is responsible for the timely filing of this
Schedule 13D and any amendments thereto, and for the completeness and accuracy
of any information concerning them contained herein. The undersigned further
constitute and appoint Triad Ventures Limited II, L.P., as lawful
attorney-in-fact and agent, to execute and file this Schedule 13D, and any
amendments thereto; on their behalf.
Dated as of this 7th day of January, 1997.
TRIAD VENTURES LIMITED II, L.P.
By:/s/ MARY D. BASS
Mary D. Bass
General Partner
/s/ MARY D. BASS
Mary D. Bass
/s/ LLOYD M. BENTSEN III
Lloyd M. Bentsen III
Page 8 of 8 Pages
