UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
(Rule 13d-101)
Under the Securities Exchange Act of 1934
(Amendment No. 3)
Aureal Semiconductor Inc.
f/k/a Media Vision Technology Incorporated
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, $.50 Par Value
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(Title of Class of Securities)
051917102
---------------------------------------------------
(CUSIP Number)
Judy K. Mencher
DDJ Capital Management, LLC
141 Linden Street, Suite 4
Wellesley, MA 02181
617-283-8500
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(Name, address and telephone number of person authorized to
receive notices and communications)
August 5, 1997
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(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 [ ].
(Continued on following pages)
(Page 1 of 17 Pages)
<PAGE>
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CUSIP NO. 051917102 Schedule 13D Page 2 of 17 Pages
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|--------|---------------------------------------------------------------------|
| 1 | NAME OF REPORTING PERSON |
| | S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON |
| | DDJ Capital Management, LLC |
| | 04-3300754 |
|--------|---------------------------------------------------------------------|
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X] |
| | SEE ITEM #5 (b) [ ] |
|--------|---------------------------------------------------------------------|
| 3 | SEC USE ONLY |
| | |
|--------|---------------------------------------------------------------------|
| 4 | SOURCE OF FUNDS* |
| | OO |
|--------|---------------------------------------------------------------------|
| 5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED |
| | PURSUANT TO ITEMS 2(d) OR 2(e) [ ] |
|--------|---------------------------------------------------------------------|
| 6 | CITIZENSHIP OR PLACE OF ORGANIZATION |
| | Commonwealth of Massachusetts |
|--------|-----------------|--------|------------------------------------------|
| | 7 | SOLE VOTING POWER |
| | | 7,616,806 |
| NUMBER OF |--------| -----------------------------------------|
| SHARES | 8 | SHARED VOTING POWER |
| BENEFICIALLY | | |
| OWNED BY ----------------------------------------------------|
| EACH | 9 | SOLE DISPOSITIVE POWER |
| REPORTING | | 7,616,806 |
| PERSON ----------------------------------------------------|
| WITH | 10 | SHARED DISPOSITIVE POWER |
| | | |
|--------|---------------------------------------------------------------------|
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON |
| | |
| | 7,616,806 |
|--------|---------------------------------------------------------------------|
| 12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN |
| | SHARES* [ ] |
|--------|---------------------------------------------------------------------|
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) |
| | 18.77% |
|--------|---------------------------------------------------------------------|
| 14 | TYPE OF REPORTING PERSON* |
| | OO |
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
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CUSIP NO. 051917102 Schedule 13D Page 3 of 17 Pages
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|--------|---------------------------------------------------------------------|
| 1 | NAME OF REPORTING PERSON |
| | S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON |
| | DDJ Overseas Corp. |
| | 98-01511108 |
|--------|---------------------------------------------------------------------|
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X] |
| | SEE ITEM #5 (b) [ ] |
|--------|---------------------------------------------------------------------|
| 3 | SEC USE ONLY |
| | |
|--------|---------------------------------------------------------------------|
| 4 | SOURCE OF FUNDS* |
| | WC |
|--------|---------------------------------------------------------------------|
| 5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED |
| | PURSUANT TO ITEMS 2(d) OR 2(e) [ ] |
|--------|---------------------------------------------------------------------|
| 6 | CITIZENSHIP OR PLACE OF ORGANIZATION |
| | Cayman Islands |
|--------|-----------------|--------|------------------------------------------|
| | 7 | SOLE VOTING POWER |
| | | 1,181,356 |
| NUMBER OF |--------| -----------------------------------------|
| SHARES | 8 | SHARED VOTING POWER |
| BENEFICIALLY | | |
| OWNED BY ----------------------------------------------------|
| EACH | 9 | SOLE DISPOSITIVE POWER |
| REPORTING | | 1,181,356 |
| PERSON ----------------------------------------------------|
| WITH | 10 | SHARED DISPOSITIVE POWER |
| | | |
|--------|---------------------------------------------------------------------|
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON |
| | |
| | 1,181,356 |
|--------|---------------------------------------------------------------------|
| 12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN |
| | SHARES* [ ] |
|--------|---------------------------------------------------------------------|
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) |
| | 2.94% |
|--------|---------------------------------------------------------------------|
| 14 | TYPE OF REPORTING PERSON* |
| | CO |
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
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CUSIP NO. 051917102 Schedule 13D Page 4 of 17 Pages
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|--------|---------------------------------------------------------------------|
| 1 | NAME OF REPORTING PERSON |
| | S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON |
| | The Galileo Fund, L.P. |
| | 04-3258283 |
|--------|---------------------------------------------------------------------|
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X] |
| | SEE ITEM #5 (b) [ ] |
|--------|---------------------------------------------------------------------|
| 3 | SEC USE ONLY |
| | |
|--------|---------------------------------------------------------------------|
| 4 | SOURCE OF FUNDS* |
| | OO |
|--------|---------------------------------------------------------------------|
| 5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED |
| | PURSUANT TO ITEMS 2(d) OR 2(e) [ ] |
|--------|---------------------------------------------------------------------|
| 6 | CITIZENSHIP OR PLACE OF ORGANIZATION |
| | Delaware |
|--------|-----------------|--------|------------------------------------------|
| | 7 | SOLE VOTING POWER |
| | | 3,037,083 |
| NUMBER OF |--------| -----------------------------------------|
| SHARES | 8 | SHARED VOTING POWER |
| BENEFICIALLY | | |
| OWNED BY ----------------------------------------------------|
| EACH | 9 | SOLE DISPOSITIVE POWER |
| REPORTING | | 3,037,083 |
| PERSON ----------------------------------------------------|
| WITH | 10 | SHARED DISPOSITIVE POWER |
| | | |
|--------|---------------------------------------------------------------------|
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON |
| | |
| | 3,037,083 |
|--------|---------------------------------------------------------------------|
| 12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN |
| | SHARES* [ ] |
|--------|---------------------------------------------------------------------|
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) |
| | 7.56% |
|--------|---------------------------------------------------------------------|
| 14 | TYPE OF REPORTING PERSON* |
| | PN |
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
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CUSIP NO. 051917102 Schedule 13D Page 5 of 17 Pages
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|--------|---------------------------------------------------------------------|
| 1 | NAME OF REPORTING PERSON |
| | S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON |
| | DDJ Galileo, LLC |
| | 04-3304422 |
|--------|---------------------------------------------------------------------|
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X] |
| | SEE ITEM #5 (b) [ ] |
|--------|---------------------------------------------------------------------|
| 3 | SEC USE ONLY |
| | |
|--------|---------------------------------------------------------------------|
| 4 | SOURCE OF FUNDS* |
| | OO |
|--------|---------------------------------------------------------------------|
| 5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED |
| | PURSUANT TO ITEMS 2(d) OR 2(e) [ ] |
|--------|---------------------------------------------------------------------|
| 6 | CITIZENSHIP OR PLACE OF ORGANIZATION |
| | Commonwealth of Massachusetts |
|--------|-----------------|--------|------------------------------------------|
| | 7 | SOLE VOTING POWER |
| | | 4,218,439 |
| NUMBER OF |--------| -----------------------------------------|
| SHARES | 8 | SHARED VOTING POWER |
| BENEFICIALLY | | |
| OWNED BY ----------------------------------------------------|
| EACH | 9 | SOLE DISPOSITIVE POWER |
| REPORTING | | 4,218,439 |
| PERSON ----------------------------------------------------|
| WITH | 10 | SHARED DISPOSITIVE POWER |
| | | |
|--------|---------------------------------------------------------------------|
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON |
| | |
| | 4,218,439 |
|--------|---------------------------------------------------------------------|
| 12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN |
| | SHARES* [ ] |
|--------|---------------------------------------------------------------------|
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) |
| | 10.49% |
|--------|---------------------------------------------------------------------|
| 14 | TYPE OF REPORTING PERSON* |
| | OO |
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
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CUSIP NO. 051917102 Schedule 13D Page 6 of 17 Pages
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|--------|---------------------------------------------------------------------|
| 1 | NAME OF REPORTING PERSON |
| | S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON |
| | The Copernicus Fund, L.P. |
| | 04-3193825 |
|--------|---------------------------------------------------------------------|
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X] |
| | SEE ITEM #5 (b) [ ] |
|--------|---------------------------------------------------------------------|
| 3 | SEC USE ONLY |
| | |
|--------|---------------------------------------------------------------------|
| 4 | SOURCE OF FUNDS* |
| | OO |
|--------|---------------------------------------------------------------------|
| 5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED |
| | PURSUANT TO ITEMS 2(d) OR 2(e) [ ] |
|--------|---------------------------------------------------------------------|
| 6 | CITIZENSHIP OR PLACE OF ORGANIZATION |
| | Delaware |
|--------|-----------------|--------|------------------------------------------|
| | 7 | SOLE VOTING POWER |
| | | 2,153,807 |
| NUMBER OF |--------| -----------------------------------------|
| SHARES | 8 | SHARED VOTING POWER |
| BENEFICIALLY | | |
| OWNED BY ----------------------------------------------------|
| EACH | 9 | SOLE DISPOSITIVE POWER |
| REPORTING | | 2,153,807 |
| PERSON ----------------------------------------------------|
| WITH | 10 | SHARED DISPOSITIVE POWER |
| | | |
|--------|---------------------------------------------------------------------|
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON |
| | |
| | 2,153,807 |
|--------|---------------------------------------------------------------------|
| 12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN |
| | SHARES* [ ] |
|--------|---------------------------------------------------------------------|
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) |
| | 5.36% |
|--------|---------------------------------------------------------------------|
| 14 | TYPE OF REPORTING PERSON* |
| | PN |
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
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CUSIP NO. 051917102 Schedule 13D Page 7 of 17 Pages
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|--------|---------------------------------------------------------------------|
| 1 | NAME OF REPORTING PERSON |
| | S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON |
| | DDJ Copernicus, LLC |
| | 04-3304417 |
|--------|---------------------------------------------------------------------|
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X] |
| | SEE ITEM #5 (b) [ ] |
|--------|---------------------------------------------------------------------|
| 3 | SEC USE ONLY |
| | |
|--------|---------------------------------------------------------------------|
| 4 | SOURCE OF FUNDS* |
| | OO |
|--------|---------------------------------------------------------------------|
| 5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED |
| | PURSUANT TO ITEMS 2(d) OR 2(e) [ ] |
|--------|---------------------------------------------------------------------|
| 6 | CITIZENSHIP OR PLACE OF ORGANIZATION |
| | Commonwealth of Massachusetts |
|--------|-----------------|--------|------------------------------------------|
| | 7 | SOLE VOTING POWER |
| | | 2,153,807 |
| NUMBER OF |--------| -----------------------------------------|
| SHARES | 8 | SHARED VOTING POWER |
| BENEFICIALLY | | |
| OWNED BY ----------------------------------------------------|
| EACH | 9 | SOLE DISPOSITIVE POWER |
| REPORTING | | 2,153,807 |
| PERSON ----------------------------------------------------|
| WITH | 10 | SHARED DISPOSITIVE POWER |
| | | |
|--------|---------------------------------------------------------------------|
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON |
| | |
| | 2,153,807 |
|--------|---------------------------------------------------------------------|
| 12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN |
| | SHARES* [ ] |
|--------|---------------------------------------------------------------------|
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) |
| | 5.36% |
|--------|---------------------------------------------------------------------|
| 14 | TYPE OF REPORTING PERSON* |
| | OO |
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
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CUSIP NO. 051917102 Schedule 13D Page 8 of 17 Pages
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|--------|---------------------------------------------------------------------|
| 1 | NAME OF REPORTING PERSON |
| | S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON |
| | Kepler Overseas Corp. |
| | |
|--------|---------------------------------------------------------------------|
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X] |
| | SEE ITEM #5 (b) [ ] |
|--------|---------------------------------------------------------------------|
| 3 | SEC USE ONLY |
| | |
|--------|---------------------------------------------------------------------|
| 4 | SOURCE OF FUNDS* |
| | WC |
|--------|---------------------------------------------------------------------|
| 5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED |
| | PURSUANT TO ITEMS 2(d) OR 2(e) [ ] |
|--------|---------------------------------------------------------------------|
| 6 | CITIZENSHIP OR PLACE OF ORGANIZATION |
| | Cayman Islands |
|--------|-----------------|--------|------------------------------------------|
| | 7 | SOLE VOTING POWER |
| | | 59,830 |
| NUMBER OF |--------| -----------------------------------------|
| SHARES | 8 | SHARED VOTING POWER |
| BENEFICIALLY | | |
| OWNED BY ----------------------------------------------------|
| EACH | 9 | SOLE DISPOSITIVE POWER |
| REPORTING | | 59,830 |
| PERSON ----------------------------------------------------|
| WITH | 10 | SHARED DISPOSITIVE POWER |
| | | |
|--------|---------------------------------------------------------------------|
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON |
| | |
| | 59,830 |
|--------|---------------------------------------------------------------------|
| 12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN |
| | SHARES* [ ] |
|--------|---------------------------------------------------------------------|
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) |
| | .15% |
|--------|---------------------------------------------------------------------|
| 14 | TYPE OF REPORTING PERSON* |
| | CO |
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
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CUSIP NO. 051917102 Schedule 13D Page 9 of 17 Pages
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|--------|---------------------------------------------------------------------|
| 1 | NAME OF REPORTING PERSON |
| | S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON |
| | B III Capital Partners, L.P. |
| | 04-3341099 |
|--------|---------------------------------------------------------------------|
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X] |
| | SEE ITEM #5 (b) [ ] |
|--------|---------------------------------------------------------------------|
| 3 | SEC USE ONLY |
| | |
|--------|---------------------------------------------------------------------|
| 4 | SOURCE OF FUNDS* |
| | OO |
|--------|---------------------------------------------------------------------|
| 5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED |
| | PURSUANT TO ITEMS 2(d) OR 2(e) [ ] |
|--------|---------------------------------------------------------------------|
| 6 | CITIZENSHIP OR PLACE OF ORGANIZATION |
| | Delaware |
|--------|-----------------|--------|------------------------------------------|
| | 7 | SOLE VOTING POWER |
| | | 1,125,000 |
| NUMBER OF |--------| -----------------------------------------|
| SHARES | 8 | SHARED VOTING POWER |
| BENEFICIALLY | | |
| OWNED BY ----------------------------------------------------|
| EACH | 9 | SOLE DISPOSITIVE POWER |
| REPORTING | | 1,125,000 |
| PERSON ----------------------------------------------------|
| WITH | 10 | SHARED DISPOSITIVE POWER |
| | | |
|--------|---------------------------------------------------------------------|
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON |
| | |
| | 1,125,000 |
|--------|---------------------------------------------------------------------|
| 12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN |
| | SHARES* [ ] |
|--------|---------------------------------------------------------------------|
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) |
| | 2.77% |
|--------|---------------------------------------------------------------------|
| 14 | TYPE OF REPORTING PERSON* |
| | PN |
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
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CUSIP NO. 051917102 Schedule 13D Page 10 of 17 Pages
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|--------|---------------------------------------------------------------------|
| 1 | NAME OF REPORTING PERSON |
| | S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON |
| | DDJ Capital III, LLC |
| | 04-3317544 |
|--------|---------------------------------------------------------------------|
| 2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [X] |
| | SEE ITEM #5 (b) [ ] |
|--------|---------------------------------------------------------------------|
| 3 | SEC USE ONLY |
| | |
|--------|---------------------------------------------------------------------|
| 4 | SOURCE OF FUNDS* |
| | OO |
|--------|---------------------------------------------------------------------|
| 5 | CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED |
| | PURSUANT TO ITEMS 2(d) OR 2(e) [ ] |
|--------|---------------------------------------------------------------------|
| 6 | CITIZENSHIP OR PLACE OF ORGANIZATION |
| | Delaware |
|--------|-----------------|--------|------------------------------------------|
| | 7 | SOLE VOTING POWER |
| | | 1,125,000 |
| NUMBER OF |--------| -----------------------------------------|
| SHARES | 8 | SHARED VOTING POWER |
| BENEFICIALLY | | |
| OWNED BY ----------------------------------------------------|
| EACH | 9 | SOLE DISPOSITIVE POWER |
| REPORTING | | 1,125,000 |
| PERSON ----------------------------------------------------|
| WITH | 10 | SHARED DISPOSITIVE POWER |
| | | |
|--------|---------------------------------------------------------------------|
| 11 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON |
| | |
| | 1,125,000 |
|--------|---------------------------------------------------------------------|
| 12 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN |
| | SHARES* [ ] |
|--------|---------------------------------------------------------------------|
| 13 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) |
| | 2.77% |
|--------|---------------------------------------------------------------------|
| 14 | TYPE OF REPORTING PERSON* |
| | OO |
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
Schedule 13D
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CUSIP NO. 051917102 Page 11 of 17 Pages
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Item 1. Security and Issuer:
This Amendment No. 3 to Schedule 13D ("Amendment No. 3") should be read in
conjunction with the Schedule 13D (the "Schedule 13D"), dated March 11, 1996,
the Amendment No. 1 dated June 10, 1996 ("Amendment No. 1") and Amendment No. 2
dated March 19, 1997 ("Amendment No. 2") each as filed with the Securities and
Exchange Commission by DDJ Capital Management, LLC, a Massachusetts limited
liability company, and certain affiliates. This Amendment No. 3 amends the
Schedule 13D, Amendment No. 1 and Amendment No. 2 only with respect to those
items listed below. All capitalized terms not otherwise defined herein shall
have the meanings ascribed thereto on the Schedule 13D, Amendment No. 1 and
Amendment No. 2.
This filing of this Amendment No. 3 is not, and should not be deemed to be,
an admission that the Schedule 13D or any Amendment thereto is required to be
filed.
This Amendment No. 3 relates to shares of the common stock , par value of
$0.50 per share, (the "Shares") of Aureal Semiconductor, Inc., a Delaware
corporation, (the "Company"). The principal executive offices of the Company are
located at 4245 Technology Drive, Fremont, California 94538.
Item 2. Identity and Background:
Item 2 is deleted in its entirety and amended as set forth below.
This statement is being filed jointly by DDJ Capital Management, LLC
("DDJ"), a Massachusetts limited liability company, DDJ Overseas Corporation., a
Cayman Islands corporation, DDJ Galileo, LLC, a Massachusetts limited liability
company, Kepler Overseas Corp., a Cayman Islands corporation, The Copernicus
Fund, L.P., a Delaware limited partnership, DDJ Copernicus, LLC, a Massachusetts
limited liability company, DDJ Capital III, LLC, a Delaware limited liability
company and B III Capital Partners, L.P., a Delaware limited partnership. Each
of the aforementioned entities shall be collectively referred to as the "DDJ
Affiliates". DDJ Copernicus, LLC is the general partner of, and DDJ is the
investment manager for, The Copernicus Fund, L.P. DDJ Galileo, LLC owns all of
the voting securities of, and DDJ is the investment manager for, DDJ Overseas
Corp. DDJ Capital III, LLC is the general partner of, and DDJ is the investment
manager for B III Capital Partners, L.P. DDJ is also the investment manager for
Kepler Overseas Corp. and Crocodile I, LLC, a Cayman Islands limited liability
company (the "Advisory Account").
<PAGE>
Schedule 13D
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CUSIP NO. 051917102 Page 12 of 17 Pages
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The Shares described herein are owned by one or more of The Copernicus
Fund, L.P., DDJ Overseas Corporation, Kepler Overseas Corp. and B III Capital
Partners, L.P. (jointly, the "Funds") and/or the Advisory Account. The principal
office of each of DDJ and the DDJ Affiliates, with the exception of DDJ Overseas
Corp. and Kepler Overseas Corp., are located at 141 Linden Street, Suite 4,
Wellesley, Massachusetts 02181. The principal office of DDJ Overseas Corp. and
Kepler Overseas Corp. is: c/o Goldman Sachs (Cayman), Harbour Centre, George
Town, Post Office Box 896, Grand Cayman Islands.
The name, residence, or business address, principal occupation or
employment and citizenship of each of the executive officers and directors of
DDJ and each of the DDJ Affiliates are set forth on Schedule A hereto.
Within the past five years, none of DDJ or the DDJ Affiliates named in this
Item 2 or persons listed on Schedule A has been convicted in any criminal
proceeding (excluding traffic violations or similar misdemeanors) or has been a
party to any civil proceeding and as a result thereof was or is subject to any
judgment, decree or final order enjoining future violations of, or prohibiting
or mandating activities subject to federal or state securities laws or finding
any violations with respect to such laws.
Item 3. Sources and Amount of Funds or Other Consideration:
Item 3 is deleted in its entirety and amended as set forth below.
The Funds and the Advisory Account which own or owned Shares purchased an
aggregate of 7,616,806 Shares (which number assumes exercise of 375,000 warrants
to purchase Shares; see below) for cash in the amount of approximately
$10,531,141 including brokerage commissions. All of the 2,153,807 Shares owned
by The Copernicus Fund, L.P. were purchased for cash or on margin pursuant to a
typical customer margin agreement with Goldman Sachs & Co.; all of 3,037,083
Shares owned by The Galileo Fund, L.P. were purchased for cash or on margin
pursuant to a typical customer margin agreement with Goldman Sachs & Co.; all of
the 1,181,356 Shares owned by DDJ Overseas Corp. were purchased for cash or on
margin pursuant to a typical customer margin agreement with Goldman Sachs & Co.;
all of the 59,830 Shares owned by Kepler Overseas Corp. were purchased for cash
or on margin pursuant to a typical customer margin agreement with Goldman Sachs
& Co.; and all of 59,730 Shares owned by the Advisory Account were purchased for
cash or on margin pursuant to a typical customer margin agreement with Goldman
Sachs & Co.
On August 5, 1997, B III Capital Partners, L.P. purchased in a private
placement 750,000 "Units" of the Issuer. The purchase price per Unit was $2.00.
Each Unit includes (1) Share of Common Stock of the Issuer and (1) warrant to
purchase one-half (0.5) of a
<PAGE>
Schedule 13D
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CUSIP NO. 051917102 Page 13 of 17 Pages
- --------------------------------------------------------------------------------
Share of Common Stock of the Issuer, for an aggregate of 750,000 Shares of
Common Stock of the Issuer and warrants to purchase 375,000 Shares of Common
Stock of the Issuer. Each warrant is immediately exercisable at the exercise
price of $2.00.
Item 4. Purpose of Transaction:
Item 4 is deleted in its entirety and amended as set forth below.
The Shares were purchased in order to acquire an equity interest in the
Company in pursuit of specified investment objectives established by the
investors in the Funds and/or Advisory Account. DDJ and the DDJ Affiliates may
continue to have the Funds and/or Advisory Account purchase Shares subject to a
number of factors, including, among others, the availability of Shares for sale
at what they consider to be reasonable prices and other investment opportunities
that may be available to the Funds and Advisory Account.
DDJ and the DDJ Affiliates intend to review continuously the equity
position of the Funds and the Advisory Account in the Company. Depending upon
future evaluations of the business prospects of the Company and upon other
developments, including, but not limited to, general economic and business
conditions and money market and stock market conditions, DDJ and the DDJ
Affiliates may determine to cease making additional purchases of Shares or to
increase or decrease the equity interest in the Company by acquiring additional
Shares, or by disposing of all or a portion of the Shares.
None of DDJ or the DDJ Affiliates has any present plan or proposal which
relates to or would result in (i) an extraordinary corporate transaction, such
as a merger, reorganization, liquidation, or sale of transfer or a material
amount of assets of or involving the Company or any of its subsidiaries, (ii)
any change in the Company's present Board of Directors or management, (iii) any
material changes in the Company's present capitalization or dividend policy or
any other material change in the Company's business or corporate structure, (iv)
any change in the Company's charter or bylaws, (v) the Company's Shares becoming
eligible for termination of their registration pursuant to Section 12(g)(4) of
the 1934 Act, or (vi) any similar action.
Item 5. Interest in Securities of Issuer:
Item 5 is deleted in its entirety and amended as set forth below.
(a) DDJ Overseas Corp. owns, and DDJ Galileo, LLC and DDJ beneficially own
as majority shareholder and investment manager, respectively, of DDJ Overseas
Corp. 1,181,356 Shares, or approximately 2.94% of the outstanding Shares of the
Company. The Copernicus Fund, L.P. owns, and DDJ Copernicus, LLC and DDJ
beneficially own, as
<PAGE>
Schedule 13D
- --------------------------------------------------------------------------------
CUSIP NO. 051917102 Page 14 of 17 Pages
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general partner and investment manager, respectively, of The Copernicus Fund,
L.P. 2,153,807 Shares, or approximately 5.36% of the outstanding Shares of the
Company. The Galileo Fund, L.P. owns, and DDJ Galileo, LLC and DDJ beneficially
own, as general partner and investment manager, respectively, of The Galileo
Fund, L.P. 3,037,083 Shares, or approximately 7.56% of the outstanding Shares of
the Company. Kepler Overseas Corp. owns, and DDJ, as investment manager for
Kepler Overseas Corp. beneficially owns 59,830 Shares or approximately .15% of
the Company. B III Capital Partners, L.P. owns and DDJ Capital III, LLC and DDJ
beneficially own as general partner and investment manager, respectively, of B
III Capital Partners, L.P. 1,125,000 Shares, or approximately 2.77% of the
outstanding Shares of the Company. DDJ, as investment manager to the Advisory
Account may be deemed to beneficially own 59,730 Shares, or approximately .15%
of the outstanding Shares of the Company. DDJ disclaims any such beneficial
ownership.
(b) Each of the aforementioned entities has sole power to vote and to
dispose of the Shares so indicated.
(c) Except as set forth in Item 3 or in the following sentence, neither DDJ
nor any of the DDJ Affiliates, and, to the best knowledge of DDJ and the DDJ
Affiliates, none of the persons named in Schedule A hereto, have effected any
transaction in the Shares during the past sixty days. The Funds and/or the
Advisory Account have purchased 10,000 Shares for an aggregate price of
$23,180.00 on July 31, 1997.
Item 6. Contracts, Arrangements, Understandings or Relationships With
Respect to Securities of the Issuer.
Item 6 is deleted in its entirety and amended as set forth below.
Other than as described in this Amendment No. 3, neither DDJ nor any of the
DDJ Affiliates and, to the best knowledge of DDJ and the DDJ Affiliates, none of
the persons named in Schedule A hereto have any contract, arrangement,
understanding or relationship with any person with respect to any securities of
the Company, including respecting voting or transfer of Company securities or
joint venture, finder's fee or the like.
The Funds may from time to time own debt securities issued by the Company,
and may from time to time purchase and or sell such debt securities.
The Company and the Funds are parties to Amendment No. 3 to Registration
Rights Agreement by and among the Company and Certain Entities and Individuals,
dated August 6, 1997, obligating the Company to register the Shares and the
Shares underlying the warrants under the Securities Act of 1933, as amended.
<PAGE>
Schedule 13D
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CUSIP NO. 051917102 Page 15 of 17 Pages
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Item 7. Material to be filed as Exhibits:
Not Applicable.
<PAGE>
Schedule 13D
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CUSIP NO. 051917102 Page 16 of 17 Pages
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Signature:
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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.
DDJ CAPITAL MANAGEMENT, LLC
By: /s/ Judy K. Mencher
-------------------
Judy K. Mencher
Member
<PAGE>
Schedule 13D
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CUSIP NO. 051917102 Page 17 of 17 Pages
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SCHEDULE A
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The name and present principal occupation or employment of each executive
officer and member of DDJ Capital Management, LLC and each director of the DDJ
Affiliates are set forth below. The business address of each person and the
address of the corporation or organization in which such employment is conducted
is 141 Linden Street, Suite 4, Wellesley, MA 02181, except that the principal
address of DDJ Overseas Corporation, Kepler Overseas Corp., Mr. Austin and Mr.
Hunter is set forth in Item 2. Mr. Harmetz, Mr. Breazzano and Ms. Mencher are
U.S. citizens. Mr. Austin and Mr. Hunter are Cayman Islands citizens.
NAME PRINCIPAL OCCUPATION OR EMPLOYMENT
- ---- ----------------------------------
Daniel G. Harmetz Principal of DDJ Capital Management, LLC, DDJ
Galileo, LLC and DDJ Copernicus, LLC
David J. Breazzano Principal of DDJ Capital Management, LLC, DDJ
Galileo, LLC and DDJ Copernicus, LLC
Judy K. Mencher Principal of DDJ Capital Management,
LLC, DDJ Galileo, LLC, DDJ Copernicus, LLC, Vice
President of DDJ Overseas Corporation and
Director of Kepler Overseas Corp.
Michael Austin Director of DDJ Overseas Corporation, Director of
Kepler Overseas Corp.; Corporate Director
Dennis Hunter Director of Kepler Overseas Corporation, Managing
Director of Queensgate Bank
