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FORM 3 OMB APPROVAL
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OMB Number:.............. 3235-0104
Expires:................. December 31, 2001
Estimated average burden
hours per response ...... 0.5
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U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(f)
of the Investment Company Act of 1940
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<S> <C> <C> <C>
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1. Name and Address of Reporting Person* 2. Date of Event Requiring 4. Issuer Name and Ticker or 6. If Amendment, Date
VantagePoint Venture Partners 1996, Statement Trading Symbol of Original
L.P. in addition to and on behalf (Month/Day/Year) The Panda Project, Inc. (PNDA) (Month/Day/Year)
of the beneficial owners listed on May 14, 1999 ----------------------------------
Schedule A hereto ---------------------------- 5. Relationship of Reporting -----------------------
- ---------------------------------------- 3. IRS or Social Security Person to Issuer 7. Individual or Joint/
Number of Reporting (Check all applicable) Group Filing (Check
1001 Bayhill Drive, Suite 140 Person (Voluntary) Director X 10% Owner applicable line)
- ---------------------------------------- ----- ----- Form filed by
(Street) ---------------------------- Officer Other ----- One Reporting
San Bruno CA 94066 ----- (give ----- (specify Person
- -------------------------------------- title below) below) X Form filed by
(City) (State) (Zip) ----- More than One
---------------------------------- Reporting Person
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TABLE 1 -- NON-DERIVATIVE SECURITIES BENEFICIALLY OWNED
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1. Title of Security 2. Amount of Securities 3. Ownership Form: 4. Nature of Indirect
(Instr. 4) Beneficially Owned Direct (D) or Beneficial
(Instr. 4) Indirect (I) Ownership (Instr. 4)
(Instr. 5)
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Common Stock 24,997,606(1) 1 The Reporting Person has
voting power to direct
the vote of such shares
with respect to the sale
of assets of the Issuer
to Silicon Bandwidth,
Inc.
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
*If this form is filed by more than one reporting person, see Instruction 5(b)(v).
(1) Reporting Person disclaims beneficial ownership over such 24,997,606 shares.
POTENTIAL PERSONS WHO ARE TO RESPOND TO THE COLLECTION OF INFORMATION CONTAINED IN THIS FORM (Over)
ARE NOT REQUIRED TO RESPOND UNLESS THE FORM DISPLAYS A CURRENTLY VALID OMB CONTROL NUMBER. SEC 1473 (3-99)
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FORM 3 (CONTINUED) TABLE II -- DERIVATIVE SECURITIES BENEFICIALLY OWNED
(E.G., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
<S> <C> <C> <C> <C> <C>
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1. Title of Derivative Security 2. Date 3. Title and Amount of 4. Conver- 5. Owner- 6. Nature of Indirect
(Instr. 4) Exercisable and Securities Underlying sion or ship Beneficial Ownership
Expiration Date Derivative Security Exercise Form of (Instr. 5)
(Month/Day/ (Instr. 4) Price of Deriv-
Year) Deri- ative
vative Security:
Security Direct
------------------------------------------------- (D) or
Date Expira- Amount or Indirect (I)
Exercis- tion Title Number (Instr. 5)
able Date of Shares
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N/A
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Explanation of Responses:
**Intentional misstatements or omissions of facts constitute Federal Criminal By: /s/ Alan E. Salzman May 24, 1999
Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). -------------------------------- ------------
Alan E. Salzman, Chairman of
Bandwith, Inc.
Note. File three copies of this form, one of which must be manually signed.
If space is insufficient, See Instruction 6 for procedure.
POTENTIAL PERSONS WHO ARE TO RESPOND TO THE COLLECTION OF INFORMATION CONTAINED IN THIS FORM Page 2
ARE NOT REQUIRED TO RESPOND UNLESS THE FORM DISPLAYS A CURRENTLY VALID OMB CONTROL NUMBER. SEC 1473 (3-99)
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SCHEDULE A
Silicon Bandwidth, Inc.
1001 Bayhill Drive, Suite 140
San Bruno, CA 94066
VantagePoint Associates, L.L.C.
1001 Bayhill Drive, Suite 140
San Bruno, CA 94066
James D. Marver
1001 Bayhill Drive, Suite 140
San Bruno, CA 94066
Alan E. Salzman
1001 Bayhill Drive, Suite 140
San Bruno, CA 94066
