SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
------------
SCHEDULE 13D
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
RULE 13d-2(a)
(Amendment No. 5)(1)
OPTI, Inc.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, $0.01 par value
- --------------------------------------------------------------------------------
(Title of Class of Securities)
683960108
- --------------------------------------------------------------------------------
(CUSIP Number)
Scott B. Bernstein, Esq.,
Caxton Corporation,
315 Enterprise Drive
Plainsboro, New Jersey 08536
(609) 936-2580
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
February 2, 2000
- --------------------------------------------------------------------------------
(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 that is the subject of this Schedule 13D, and is filing
this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the
following box |_|.
Note. Schedules filed in paper format shall include a signed
original and five copies of the schedule, including all exhibits. See Rule
13d-7(b) for other parties to whom copies are to be sent.
(Continued on following pages)
(Page 1 of 7 Pages)
- ----------
(1) 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 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. 683960108 SCHEDULE 13D Page 2 of 7 Pages
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Caxton International Limited
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |_|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
British Virgin Islands
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
0
--------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 789,800
OWNED BY --------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH --------------------------------------------------------
10 SHARED DISPOSITIVE POWER
789,800
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
789,800
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.1%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. 683960108 SCHEDULE 13D Page 3 of 7 Pages
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Bruce S. Kovner
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |_|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
Not Applicable
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) |_|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
7 SOLE VOTING POWER
0
--------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 789,800
OWNED BY --------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH --------------------------------------------------------
10 SHARED DISPOSITIVE POWER
789,800
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
789,800
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* |_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.1%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
This Amendment 5 to Schedule 13D relates to the Common Stock, par value
$.01 per share (the "Common Stock"), of OPTi, Inc., a California corporation
(the "Company"), 888 Tasman Drive, Milpitas, CA 95035, beneficially owned by
Caxton International Limited and Bruce S. Kovner.
Item 3: Source and Amount of Fund or Other Consideration.
Item 3 of the Schedule 13D is hereby amended and supplemented by inserting
the following paragraph at the end thereof:
"A net aggregate of $426,374.40 (excluding commissions, if any) was
received in a series of transactions pursuant to which Caxton International
acquired and sold Shares (as defined in Item 5 below) since November 19, 1999.
Item 4: Purpose of Transaction.
Item 4 of the Schedule 13D is hereby amended by replacing the three paragraphs
therein with the following two paragraphs:
The persons filing this Report have supported recent actions taken by the
Company to restore its profitability but, (a) continue to believe that the
Common Stock is under-valued, and (b) are concerned about how management has
indicated it may deploy available cash, and (c) believe that management should
take further steps to enhance shareholder value, which should include
considering the following: (i) the sale of all non-strategic assets and
businesses, and (ii) using the sales proceeds to pay off Company debt and
repurchase shares of the outstanding Common Stock. The persons filing this
Report are also examining all of their options with respect to the possibility
of taking actions which they believe will enhance shareholder value. Any such
actions could relate to or result in one or more of the matters referred to in
paragraphs (a) through (j) of Item 4 of Schedule 13D.
Each of the persons filing this Report also reserves the right to purchase
or otherwise acquire additional Common Stock or to sell or otherwise dispose of
Common Stock owned by it, in each case in open market or privately negotiated
transactions or otherwise.
Item 5: Interest in Securities of the Issuer.
Item 5 subparagraph (a) of the Schedule 13D is hereby amended by replacing
the first two sentences thereof with the following two sentences:
"(a) Caxton International beneficially owns 789,800 shares of Common Stock
(the "Shares"), approximately 7.1% of the total shares of Common Stock issued
and outstanding. This percentage reflects the acquisition of the additional
Shares and sale of Shares being reported hereunder."
<PAGE>
Item 5 subparagraph (c) of the Schedule 13D is hereby amended and
supplemented by adding the following paragraph at the end thereof:
"Caxton International acquired additional Shares and sold Shares in a
series of open market transactions effected primarily with independent brokers
and, to a lesser extent, directly with market makers utilizing the NASDAQ
System, between November 19, 1999 and February 2, 2000. See Schedule A for
disclosure of (1) the date, (2) the price and (3) the amount of Shares purchased
or sold by Caxton International during the past sixty (60) days".
<PAGE>
After reasonable inquiry and to the best of the undersigned's knowledge
and belief, the undersigned certify that the information set forth in this
statement is true, complete and correct.
February 7, 2000 CAXTON INTERNATIONAL LIMITED
By: /s/ Maxwell Quin
----------------------------------
Name: Maxwell Quin
Title: Director/Secretary
By: /s/ Nitin Aggarwal
----------------------------------
Name: Nitin Aggarwal
Title: President
/s/ Bruce S. Kovner
-------------------------------------
Bruce S. Kovner
by /s/ Scott B. Bernstein as
Attorney-In-Fact
<PAGE>
Schedule A
Caxton International Limited Price per Share
Trade No of Shares (Excluding
Date Purchased(Sold) Commission)
12/15/99 (36000) 4.0625
12/15/99 (14000) 4.5441
12/15/99 (20000) 4.5441
12/16/99 (11100) 5
12/31/99 3000 5.375
1/3/00 1400 5.0625
2/2/00 (1800) 5.5
2/2/00 (15000) 5.5625
