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. 2)*
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).
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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
- ---------------------------------------------------------------
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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 697,759
EACH REPORTING PERSON-----------------------------------
WITH (7) SOLE DISPOSITIVE POWER
0
-----------------------------------
(8) SHARED DISPOSITIVE POWER
697,759
- ---------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
697,759
- ---------------------------------------------------------------
(10) CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES* / /
- ---------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
8.1%
- ---------------------------------------------------------------
(12) TYPE OF REPORTING PERSON*
IA, CO
- ---------------------------------------------------------------
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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 0
EACH REPORTING PERSON-----------------------------------
WITH (7) SOLE DISPOSITIVE POWER
0
-----------------------------------
(8) SHARED DISPOSITIVE POWER
0
- ---------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
0
- ---------------------------------------------------------------
(10) CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES* / /
- ---------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0.0%
- ---------------------------------------------------------------
(12) TYPE OF REPORTING PERSON*
IN
- ---------------------------------------------------------------
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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>
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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 697,759
EACH REPORTING PERSON-----------------------------------
WITH (7) SOLE DISPOSITIVE POWER
0
-----------------------------------
(8) SHARED DISPOSITIVE POWER
697,759
- ---------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
697,759
- ---------------------------------------------------------------
(10) CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES* / /
- ---------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
8.1%
- ---------------------------------------------------------------
(12) TYPE OF REPORTING PERSON*
IN
- ---------------------------------------------------------------
<PAGE>
<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 697,759
EACH REPORTING PERSON-----------------------------------
WITH (7) SOLE DISPOSITIVE POWER
0
-----------------------------------
(8) SHARED DISPOSITIVE POWER
697,759
- ---------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
697,759
- ---------------------------------------------------------------
(10) CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES* / /
- ---------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
8.1%
- ---------------------------------------------------------------
(12) TYPE OF REPORTING PERSON*
IN
- ---------------------------------------------------------------
<PAGE>
<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>
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. 2 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 residence of Wright is:
93 Langpap Road
Honeoye Falls, New York 14472
(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.
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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 Aperture 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
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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 Wright:
(a) Amount Beneficially Owned: 0
(b) Percent of Class: 0.0%
(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: None
(iii) sole power to dispose
or to direct the
disposition of: None
(iv) shared power to dispose
or to direct the
disposition of: None
With respect to HBP, Horsley and Bridge:
(a) Amount Beneficially Owned: 697,759
(b) Percent of Class: 8.1%
(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: 697,759
(iii) sole power to dispose
or to direct the
disposition of: None
(iv) shared power to dispose
or to direct the
disposition of: 697,759
<PAGE>
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Page 12 of 15
This statement relates to shares of Common Stock and warrants of
the Issuer which are held by Aperture, Horsley Bridge Fund I, L.P., a New
York limited partnership ("HB Fund I"), Horsley Bridge Fund II, L.P., a
Delaware limited partnership ("HB Fund II"), Horsley Bridge Fund III, L.P., a
Delaware limited partnership ("HB Fund III"), and the John Deere Pension Trust
("Deere").
The power to vote or to direct the vote and to dispose or to
direct the disposition of Common Stock held by Aperture is exercised by the
general partners of Aperture through a Management Committee comprised of
Horsley, Bridge and Reeve. The power to vote or to direct the vote and to
dispose or to direct the disposition of Common Stock held by HB Fund I,
HB Fund II, HB Fund III and Deere is vested in HBP pursuant to a combination
of management and partnership agreements. Horsley and Bridge, 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 voting
and dispositive power because of their status as general partners of other
partnerships which serve as general partners of Aperture, HB Fund I,
HB Fund II and HB Fund III.
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 Aperture; Horsley and Bridge each disclaim beneficial ownership of the
Common Stock of the Issuer owned by HB Fund I, HB Fund II, HB Fund III and
Deere; 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.
Mr. Wright no longer has the shared power to vote or to direct the
vote or to dispose or to direct the disposition of Common Stock held by
Aperture and no longer is the beneficial owner of 5% of such Common Stock.
This Section is not applicable with respect to the other Reporting Persons.
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON.
Not applicable.
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH
ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING
COMPANY.
Not applicable.
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Page 13 of 15
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>
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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 17, 1998 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. Bride
------------------------------
GARY L. BRIDGE
/s/ N. Dan Reeve
------------------------------
N. DAN REEVE
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.
Dated: February 17, 1998 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. Bride
------------------------------
GARY L. BRIDGE
/s/ N. Dan Reeve
------------------------------
N. DAN REEVE
