Page 1 of 15 Pages
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
SONUS PHARMACEUTICALS, INC.
(Name of Issuer)
COMMON STOCK
(Title of Class of Securities)
835692104
(CUSIP Number)
*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 the
disclosures provided in a prior cover page.
The information required in 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).
<PAGE>
CUSIP No. 835692104 Page 2 of 15 pages
- ---------------------------------------------------------------
(1) NAME OF REPORTING PERSON
S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Aperture Associates, L.P.
94-3128732
- ----------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
Instructions)
(a) / /
(b) /x/
- ---------------------------------------------------------------
(3) SEC USE ONLY
- ---------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- ---------------------------------------------------------------
(5) SOLE VOTING POWER
448,334
-----------------------------------
NUMBER OF SHARES (6) SHARED VOTING POWER
BENEFICIALLY OWNED BY 0
EACH REPORTING PERSON-----------------------------------
WITH (7) SOLE DISPOSITIVE POWER
448,334
-----------------------------------
(8) SHARED DISPOSITIVE POWER
0
- ---------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
448,334
- ---------------------------------------------------------------
(10) CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES* / /
- ---------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
5.2%
- ---------------------------------------------------------------
(12) TYPE OF REPORTING PERSON*
PN
- ---------------------------------------------------------------
<PAGE>
CUSIP No. 835692104 Page 3 of 15 pages
- ---------------------------------------------------------------
(1) NAME OF REPORTING PERSON S.S. or I.R.S. IDENTIFICATION
NO. OF ABOVE PERSON
Horsley Bridge Partners, Inc.
16-1193261
- ----------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
Instructions)
(a) / /
(b) /x/
- ---------------------------------------------------------------
(3) SEC USE ONLY
- ---------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- ---------------------------------------------------------------
(5) SOLE VOTING POWER
0
-----------------------------------
NUMBER OF SHARES (6) SHARED VOTING POWER
BENEFICIALLY OWNED BY 574,783
EACH REPORTING PERSON-----------------------------------
WITH (7) SOLE DISPOSITIVE POWER
0
-----------------------------------
(8) SHARED DISPOSITIVE POWER
574,783
- ---------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
574,783
- ---------------------------------------------------------------
(10) CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES* / /
- ---------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
6.7%
- ---------------------------------------------------------------
(12) TYPE OF REPORTING PERSON*
IA, CO
- ---------------------------------------------------------------
<PAGE>
CUSIP No. 835692104 Page 4 of 15 pages
- ---------------------------------------------------------------
(1) NAME OF REPORTING PERSON S.S. or I.R.S. IDENTIFICATION
NO. OF ABOVE PERSON
Kevin P. Wright
###-##-####
- ----------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
Instructions)
(a) / /
(b) /x/
- ---------------------------------------------------------------
(3) SEC USE ONLY
- ---------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
- ---------------------------------------------------------------
(5) SOLE VOTING POWER
0
-----------------------------------
NUMBER OF SHARES (6) SHARED VOTING POWER
BENEFICIALLY OWNED BY 448,334
EACH REPORTING PERSON-----------------------------------
WITH (7) SOLE DISPOSITIVE POWER
0
-----------------------------------
(8) SHARED DISPOSITIVE POWER
448,334
- ---------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
448,334
- ---------------------------------------------------------------
(10) CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES* / /
- ---------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
5.2%
- ---------------------------------------------------------------
(12) TYPE OF REPORTING PERSON*
IN
- ---------------------------------------------------------------
<PAGE>
CUSIP No. 835692104 Page 5 of 15 pages
- ---------------------------------------------------------------
(1) NAME OF REPORTING PERSON S.S. or I.R.S. IDENTIFICATION
NO. OF ABOVE PERSON
Aperture Partners, L.P.
94-3128731
- ----------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
Instructions)
(a) / /
(b) /x/
- ---------------------------------------------------------------
(3) SEC USE ONLY
- ---------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- ---------------------------------------------------------------
(5) SOLE VOTING POWER
0
-----------------------------------
NUMBER OF SHARES (6) SHARED VOTING POWER
BENEFICIALLY OWNED BY 448,334
EACH REPORTING PERSON-----------------------------------
WITH (7) SOLE DISPOSITIVE POWER
0
-----------------------------------
(8) SHARED DISPOSITIVE POWER
448,334
- ---------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
448,334
- ---------------------------------------------------------------
(10) CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES* / /
- ---------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
5.2%
- ---------------------------------------------------------------
(12) TYPE OF REPORTING PERSON*
PN
- ---------------------------------------------------------------
<PAGE>
CUSIP No. 835692104 Page 6 of 15 pages
- ---------------------------------------------------------------
(1) NAME OF REPORTING PERSON S.S. or I.R.S. IDENTIFICATION
NO. OF ABOVE PERSON
S. Phillip Horsley
###-##-####
- ----------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
Instructions)
(a) / /
(b) /x/
- ---------------------------------------------------------------
(3) SEC USE ONLY
- ---------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
- ---------------------------------------------------------------
(5) SOLE VOTING POWER
0
-----------------------------------
NUMBER OF SHARES (6) SHARED VOTING POWER
BENEFICIALLY OWNED BY 574,783
EACH REPORTING PERSON-----------------------------------
WITH (7) SOLE DISPOSITIVE POWER
0
-----------------------------------
(8) SHARED DISPOSITIVE POWER
574,783
- ---------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
574,783
- ---------------------------------------------------------------
(10) CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES* / /
- ---------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
6.7%
- ---------------------------------------------------------------
(12) TYPE OF REPORTING PERSON*
IN
- ---------------------------------------------------------------
<PAGE>
CUSIP No. 835692104 Page 7 of 15 pages
- ---------------------------------------------------------------
(1) NAME OF REPORTING PERSON S.S. or I.R.S. IDENTIFICATION
NO. OF ABOVE PERSON
Gary L. Bridge
###-##-####
- ----------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
Instructions)
(a) / /
(b) /x/
- ---------------------------------------------------------------
(3) SEC USE ONLY
- ---------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
- ---------------------------------------------------------------
(5) SOLE VOTING POWER
0
-----------------------------------
NUMBER OF SHARES (6) SHARED VOTING POWER
BENEFICIALLY OWNED BY 574,783
EACH REPORTING PERSON-----------------------------------
WITH (7) SOLE DISPOSITIVE POWER
0
-----------------------------------
(8) SHARED DISPOSITIVE POWER
574,783
- ---------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
574,783
- ---------------------------------------------------------------
(10) CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES* / /
- ---------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
6.7%
- ---------------------------------------------------------------
(12) TYPE OF REPORTING PERSON*
IN
- ---------------------------------------------------------------
<PAGE>
CUSIP No. 835692104 Page 8 of 15 pages
- ---------------------------------------------------------------
(1) NAME OF REPORTING PERSON S.S. or I.R.S. IDENTIFICATION
NO. OF ABOVE PERSON
N. Dan Reeve
###-##-####
- ----------------------------------------------------------------
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
Instructions)
(a) / /
(b) /x/
- ---------------------------------------------------------------
(3) SEC USE ONLY
- ---------------------------------------------------------------
(4) CITIZENSHIP OR PLACE OF ORGANIZATION
U.S.A.
- ---------------------------------------------------------------
(5) SOLE VOTING POWER
0
-----------------------------------
NUMBER OF SHARES (6) SHARED VOTING POWER
BENEFICIALLY OWNED BY 448,334
EACH REPORTING PERSON-----------------------------------
WITH (7) SOLE DISPOSITIVE POWER
0
-----------------------------------
(8) SHARED DISPOSITIVE POWER
448,334
- ---------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
448,334
- ---------------------------------------------------------------
(10) CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES* / /
- ---------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
5.2%
- ---------------------------------------------------------------
(12) TYPE OF REPORTING PERSON*
IN
- ---------------------------------------------------------------
Page 9 of 15 Pages
ITEM 1.
(a) NAME OF ISSUER. Sonus Pharmaceuticals, Inc.
(b) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES.
22026 20th Avenue Southeast
Suite 102
Bothell, Washington 98021
ITEM 2.
(a) NAME OF PERSON FILING.
Pursuant to Rule 13d-1(f)(1) of Regulation 13D-G of the
General Rules and Regulations under the Securities Exchange Act of 1934, as
amended (the "Act"), the undersigned hereby file this Schedule 13G
Amendment No. 1 on behalf of Aperture Associates, L.P. ("Aperture"),
Horsley Bridge Partners, Inc. ("HBP"), Kevin P. Wright ("Wright"), Aperture
Partners, L.P. ("Aperture Partners"), S. Phillip Horsley ("Horsley"), Gary
L. Bridge ("Bridge") and N. Dan Reeve ("Reeve"). Aperture, HBP, Wright,
Aperture Partners, Horsley, Bridge and Reeve are sometimes hereinafter
collectively referred to as the "Reporting Persons."
(b) ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE.
The principal business office of Aperture, HBP, Aperture
Partners, Horsley, Bridge and Reeve is:
505 Montgomery Street
San Francisco, California 94111
The principal business office of Wright is:
Venture Capital Development
Eastman Kodak Company
Building 83, Room 716
1999 Lake Avenue
Rochester, New York 14650
(c) CITIZENSHIP.
Each of Aperture, HBP and Aperture Partners is organized in
the State of Delaware.
Each of Wright, Horsley, Bridge and Reeve is a citizen of
the U.S.A.
<PAGE>
Page 10 of 15 Pages
(d) TITLE OF CLASS OF SECURITY.
Common Stock
(e) CUSIP NUMBER.
835692104
ITEM 3.
Not applicable.
ITEM 4. OWNERSHIP.
With respect to Aperture:
(a) Amount Beneficially Owned: 448,334
(b) Percent of Class: 5.2%
(c) Number of shares as to which such person has:
(i) sole power to vote or
to direct the vote: 448,334
(ii) shared power to vote or
to direct the vote: None
(iii) sole power to dispose
or to direct the
disposition of: 448,334
(iv) shared power to dispose
or to direct the
disposition of: None
With respect to Wright, Aperature Partners and Reeve:
(a) Amount Beneficially Owned: 448,334
(b) Percent of Class: 5.2%
(c) Number of shares as to which such person has:
(i) sole power to vote or
to direct the vote: None
(ii) shared power to vote or
to direct the vote: 448,334
<PAGE>
Page 11 of 15 Pages
(iii) sole power to dispose
or to direct the
disposition of: None
(iv) shared power to dispose
or to direct the
disposition of: 448,334
With respect to HBP, Horsley and Bridge:
(a) Amount Beneficially Owned: 574,783
(b) Percent of Class: 6.7%
(c) Number of shares as to which such person has:
(i) sole power to vote or
to direct the vote: None
(ii) shared power to vote or
to direct the vote: 574,783
(iii) sole power to dispose
or to direct the
disposition of: None
(iv) shared power to dispose
or to direct the
disposition of: 574,783
This statement relates to shares of Common Stock and warrants of
the Issuer which are held by Aperture and Horsley Bridge Fund II, L.P., a
Delaware limited partnership ("HB Fund II").
HBP, Wright and Aperture Partners are the general partners of
Aperture. The power to vote or to direct the vote and to dispose or to
direct the disposition of such Common Stock is exercised by the general
partners of Aperture through a Management Committee comprised of Wright,
Horsley, Bridge and Reeve. Horsley and Bridge are the trustees of certain
family trusts which own all of the stock of HBP and are the directors of
HBP. In addition, Horsley and Bridge are two of the three general partners
of Aperture Partners. Reeve is an employee of HBP and is the third general
partner of Aperture Partners.
HBP and HBF Partners II, L.P., a Delaware limited partnership,
are the general partners of HB Fund II. Mr. Horsley and Mr. Bridge are the
general partners of HBF Partners II, L.P. The power to vote or to direct
the voting and to dispose or to direct the disposition of the Common Stock
held by HB Fund II is held by HBP, which acts as the Managing General
Partner of HB
<PAGE>
Page 12 of 15 Pages
Fund II pursuant to the terms of the Partnership Agreement. Mr. Horsley
and Mr. Bridge, who are the trustees of certain family trusts which own all
of the stock of HBP and are the directors of HBP, may be deemed to share
the voting and dispositive power held by HBP. Mr. Horsley and Mr. Bridge
also may be deemed to share such voting and dispositive power because of
their status as general partners of HBF Partners II, L.P., which also
serves as a general partner of HB Fund II.
The business address of HB Fund II and HBF Partners II, L.P. is:
505 Montgomery Street, San Francisco, California 94111.
As of December 31, 1996, Aperture owned 395,976 shares of Common
Stock of Sonus Pharmaceuticals, Inc. and warrants, which were then
exercisable, for the purchase of an additional 52,358 shares of Common
Stock of Sonus Pharmaceuticals, Inc. These holdings have previously been
reported on a Schedule 13G filed with the Securities and Exchange
Commission on January 24, 1996.
The subsequent acquisitions of Common Stock of the Issuer that
are being reported pursuant to this statement on Schedule 13G were not cash
purchases, but rather were the result of the receipt of 126,449 shares of
Common Stock of the Issuer by HB Fund II in a distribution from Enterprise
Partners II, L.P., a limited partnership in which HB Fund II is a limited
partner.
Pursuant to Rule 13d-4 of Regulation 13D-G of the General Rules
and Regulations under the Act: Aperture Partners, Horsley, Bridge and Reeve
each disclaim beneficial ownership of the Common Stock of the Issuer owned
by Aperature; Horsley and Bridge each disclaim beneficial ownership of the
Common Stock of the Issuer owned by HB Fund II; and the filing of this
Statement by such Reporting Persons shall not be construed as an admission
that such Reporting Persons are, for the purposes of Section 13(d) or 13(g)
of the Act, beneficial owners of such Common Stock.
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS.
Not Applicable.
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON.
Not applicable.
<PAGE>
Page 13 of 15 Pages
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.
[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]
<PAGE>
Page 14 of 15 Pages
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.
Dated: February 13, 1997 APERTURE ASSOCIATES, L.P.
By: Horsley Bridge Partners, Inc.
Its: General Partner
By: /S/ PHILLIP HORSLEY
Phillip Horsley
Its: President
HORSLEY BRIDGE PARTNERS, INC.
By: /S/ PHILLIP HORSLEY
Phillip Horsley
Its: President
/S/ KEVIN P. WRIGHT
KEVIN P. WRIGHT
APERTURE PARTNERS, L.P.
By: /S/ PHILLIP HORSLEY
Phillip Horsley
Its: General Partner
/S/ PHILLIP HORSLEY
PHILLIP HORSLEY
/S/ GARY L. BRIDGE
GARY L. BRIDGE
/S/ N. DAN REEVE
N. DAN REEVE
<PAGE>
Page 15 of 15 Pages
EXHIBIT A
Pursuant to Rule 13d-1(f)(1)(iii) of Regulation 13D-G of the
General Rules and Regulations of the Securities and Exchange Commission
under the Securities Exchange Act of 1934, as amended, the undersigned agree
that the statement to which this Exhibit is attached is filed on behalf of
each of them.
APERTURE ASSOCIATES, L.P.
By: Horsley Bridge Partners, Inc.
Its: General Partner
By: /S/ PHILLIP HORSLEY
Phillip Horsley
Its: President
HORSLEY BRIDGE PARTNERS, INC.
By: /S/ PHILLIP HORSLEY
Phillip Horsley
Its: President
/S/ KEVIN P. WRIGHT
KEVIN P. WRIGHT
APERTURE PARTNERS, L.P.
By: /S/ PHILLIP HORSLEY
Phillip Horsley
Its: General Partner
/S/ PHILLIP HORSLEY
PHILLIP HORSLEY
/S/ GARY L. BRIDGE
GARY L. BRIDGE
/S/ N. DAN REEVE
N. DAN REEVE
