-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, OjGp4XGCjo9i1czcDB8NNZNa8ZhaLrON85JLDLmfcgozB6qvV2Yo/Jq1byMD1AzK m9yqQH68MxQfBZSfI2sApg== 0000950150-05-000026.txt : 20051109 0000950150-05-000026.hdr.sgml : 20051109 20051108185012 ACCESSION NUMBER: 0000950150-05-000026 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 3 FILED AS OF DATE: 20051109 DATE AS OF CHANGE: 20051108 GROUP MEMBERS: SHAMROCK ACTIVIST VALUE FUND GP, L.L.C. GROUP MEMBERS: SHAMROCK ACTIVIST VALUE FUND II, L.P. GROUP MEMBERS: SHAMROCK ACTIVIST VALUE FUND, L.P. GROUP MEMBERS: SHAMROCK PARTNERS ACTIVIST VALUE FUND, L.L.C. SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: IPASS INC CENTRAL INDEX KEY: 0001053374 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER PROCESSING & DATA PREPARATION [7374] IRS NUMBER: 931214598 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-79585 FILM NUMBER: 051187467 BUSINESS ADDRESS: STREET 1: 3800 BRIDGE PARKWAY CITY: REDWOOD SHORES STATE: CA ZIP: 94065 BUSINESS PHONE: 6502324115 MAIL ADDRESS: STREET 1: 3800 BRIDGE PARKWAY CITY: REDWOOD SHORES STATE: CA ZIP: 94065 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Shamrock Activist Value Fund L P CENTRAL INDEX KEY: 0001306697 IRS NUMBER: 000000000 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 4444 LAKESIDE DR CITY: BURBANK STATE: CA ZIP: 91505 BUSINESS PHONE: 818-973-4444 MAIL ADDRESS: STREET 1: 4444 LAKESIDE DR CITY: BURBANK STATE: CA ZIP: 91505 FORMER COMPANY: FORMER CONFORMED NAME: Shamrock Governance Fund LP DATE OF NAME CHANGE: 20041021 SC 13D/A 1 a14217a2sc13dza.htm SHAMROCK ACTIVIST VALUE FUND, L.P. FOR IPASS INC. sc13dza
 

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934
(Amendment No. 2)*

iPass Inc.

(Name of Issuer)

Common Shares, $.001 Par Value

(Title of Class of Securities)

42621V108

(CUSIP Number)

David K. Robbins, Esq.
Bingham McCutchen LLP
355 South Grand Avenue, 44th Floor
Los Angeles, CA 90071
(213) 680-6400

(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)

November 8, 2005

(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 §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. o

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See §240.13d-7 for other parties to whom copies are to be sent.

* 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 (“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).

Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.


 

             
SCHEDULE 13D
CUSIP No. 42621V108

  1. Name of Reporting Person:
Shamrock Activist Value Fund II, L.P. —
I.R.S. Identification Nos. of above persons (entities only):
55-0908199

  2. Check the Appropriate Box if a Member of a Group (See Instructions):
    (a) þ  
    (b) o  

  3. SEC Use Only:

  4. Source of Funds (See Instructions):
WC

  5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e): o
Not Applicable

  6. Citizenship or Place of Organization:
Virginia

Number of
Shares
Beneficially
Owned by
Each Reporting
Person With
7. Sole Voting Power:
0

8. Shared Voting Power:
779,600 Common Shares*

9. Sole Dispositive Power:
0

10.Shared Dispositive Power:
779,600 Common Shares*

  11.Aggregate Amount Beneficially Owned by Each Reporting Person:
779,600 Common Shares*

  12.Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions):
o

  13.Percent of Class Represented by Amount in Row (11):
1.23%*

  14.Type of Reporting Person (See Instructions):
PN

* See Item 5 hereof

-2-


 

             
SCHEDULE 13D
CUSIP No. 42621V108

  1. Name of Reporting Person:
Shamrock Activist Value Fund, L.P. —
I.R.S. Identification Nos. of above persons (entities only):
35-2239069

  2. Check the Appropriate Box if a Member of a Group (See Instructions):
    (a) þ  
    (b) o  

  3. SEC Use Only:

  4. Source of Funds (See Instructions):
Not Applicable

  5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e): o
Not Applicable

  6. Citizenship or Place of Organization:
Delaware

Number of
Shares
Beneficially
Owned by
Each Reporting
Person With
7. Sole Voting Power:
0

8. Shared Voting Power:
5,566,126 Common Shares*

9. Sole Dispositive Power:
0

10.Shared Dispositive Power:
5,566,126 Common Shares*

  11.Aggregate Amount Beneficially Owned by Each Reporting Person:
5,566,126 Common Shares*

  12.Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions):
o

  13.Percent of Class Represented by Amount in Row (11):
8.75%*

  14.Type of Reporting Person (See Instructions):
PN

* See Item 5 hereof

-3-


 

             
SCHEDULE 13D
CUSIP No. 42621V108

  1. Name of Reporting Person:
Shamrock Activist Value Fund GP, L.L.C. —
I.R.S. Identification Nos. of above persons (entities only):
37-1497874

  2. Check the Appropriate Box if a Member of a Group (See Instructions):
    (a) þ  
    (b) o  

  3. SEC Use Only:

  4. Source of Funds (See Instructions):
Not Applicable

  5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e): o
Not Applicable

  6. Citizenship or Place of Organization:
Delaware

Number of
Shares
Beneficially
Owned by
Each Reporting
Person With
7. Sole Voting Power:
0

8. Shared Voting Power:
6,345,726 Common Shares*

9. Sole Dispositive Power:
0

10.Shared Dispositive Power:
6,345,726 Common Shares*

  11.Aggregate Amount Beneficially Owned by Each Reporting Person:
6,345,726 Common Shares*

  12.Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions):
o

  13.Percent of Class Represented by Amount in Row (11):
9.98%*

  14.Type of Reporting Person (See Instructions):
OO

* See Item 5 hereof

-4-


 

             
SCHEDULE 13D
CUSIP No. 42621V108

  1. Name of Reporting Person:
Shamrock Partners Activist Value Fund, L.L.C. —
I.R.S. Identification Nos. of above persons (entities only):
87-0733755

  2. Check the Appropriate Box if a Member of a Group (See Instructions):
    (a) þ  
    (b) o  

  3. SEC Use Only:

  4. Source of Funds (See Instructions):
Not Applicable

  5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e): o
Not Applicable

  6. Citizenship or Place of Organization:
Delaware

Number of
Shares
Beneficially
Owned by
Each Reporting
Person With
7. Sole Voting Power:
6,345,726 Common Shares*

8. Shared Voting Power:
0

9. Sole Dispositive Power:
6,345,726 Common Shares*

10.Shared Dispositive Power:
0

  11.Aggregate Amount Beneficially Owned by Each Reporting Person:
6,345,726 Common Shares*

  12.Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions):
o

  13.Percent of Class Represented by Amount in Row (11):
9.98%*

  14.Type of Reporting Person (See Instructions):
OO

* See Item 5 hereof

-5-


 

INTRODUCTION
This statement amends the amended Schedule 13D (the “Amended Schedule 13D”) filed on May 23, 2005 and amended on August 5, 2005, by Shamrock Activist Value Fund, L.P., a Delaware limited partnership (“SAVF”), Shamrock Activist Value Fund GP, L.L.C., a Delaware limited liability company (the “General Partner”), and Shamrock Partners Activist Value Fund, L.L.C.,
(“Shamrock Partners” and collectively with SAVF and the General Partner, the “Reporting Persons”) with respect to Common Shares, $.001 par value per share (“Common Shares”), of iPass Inc., a Delaware corporation (the “Company”). Capitalized terms used and not defined in this Amendment No. 2 shall have the meanings set forth in the Amended Schedule 13D. Except as specifically provided herein, this Amendment No. 2 does not modify any of the information previously reported on the Amended Schedule 13D.
1. ITEM 2 OF THE SCHEDULE 13D IS HEREBY AMENDED TO ADD THE FOLLOWING INFORMATION:
ITEM 2.   Identity and Background.
(a)-(f). On the dates set forth on the Schedule of Transactions attached hereto as Exhibit 5 and incorporated herein by reference, Shamrock Activist Value Fund II, L.P., a Virginia limited partnership (“SAVF II”), acquired 779,600 Common Shares of the Company. The Amended Schedule 13D is hereby amended to include SAVF II as a Reporting Person.
     The general partner of SAVF II is Shamrock Activist Value Fund GP, L.L.C., a Delaware limited liability company and the general partner of SAVF (the “General Partner”). As previously disclosed, Shamrock Partners Activist Value Fund, L.L.C., a Delaware limited liability company, is the managing member of the General Partner (“Shamrock Partners”). The principal business of SAVF II is investing in the securities of publicly traded small and micro-cap companies in the United States and, in connection therewith, co-investing with SAVF. The principal business of the General Partner is acting as general partner of SAVF II and SAVF (SAVF II and SAVF collectively are referred to herein as the “Shamrock Activist Value Fund”), and the principal business of Shamrock Partners is acting as the managing member of the General Partner. The controlling persons of SAVF II are the controlling persons of SAVF, as previously disclosed in the Amended Schedule 13D.
2. ITEM 3 OF THE SCHEDULE 13D IS HEREBY AMENDED TO ADD THE FOLLOWING INFORMATION:
ITEM 3.   Source and Amount of Funds or Other Consideration.
     The total amount of funds used by SAVF to purchase the 95,700 Common Shares acquired by it since August 5, 2005 (the date of the filing of Amendment No. 1 to the Amended Schedule 13D) was $502,889 (excluding brokerage commissions). All of such funds were derived from capital contributions to SAVF.
     The total amount of funds used by SAVF II to purchase the 779,600 Common Shares reported hereunder was $4,473,702 (excluding brokerage commissions). All of such funds were derived from capital contributions to SAVF II.

-6-


 

3. ITEM 4 OF THE SCHEDULE 13D IS HEREBY AMENDED TO ADD THE FOLLOWING INFORMATION:
ITEM 4.   Purpose of Transaction.
     SAVF acquired 95,700 Common Shares on such dates, in such amounts and at such per share prices (excluding brokerage fees) as indicated on the Schedule of Transactions attached hereto as Exhibit 5 and incorporated herein by reference. All such transactions were effected in the open market on the NASDAQ National Market.
     SAVF II acquired 779,600 Common Shares on such dates, in such amounts and at such per share prices (excluding brokerage fees) as indicated on the Schedule of Transactions attached hereto as Exhibit 5 and incorporated herein by reference. All such transactions were effected in the open market on the NASDAQ National Market.
     The purposes of SAVF II’s investment in the Company are the same purposes as those disclosed with respect to SAVF.
4. ITEM 5 OF THE SCHEDULE 13D IS HEREBY AMENDED TO ADD THE FOLLOWING INFORMATION:
ITEM 5.   Interests in Securities of the Issuer.
(a), (b) SAVF and SAVF II are controlled by the General Partner. As a result, each of SAVF and SAVF II may be deemed members of a group and may be deemed to beneficially own for purposes of Section 13(d) the shares beneficially owned for such purposes by the other.
     Since August 5, 2005 (the date of the filing of Amendment No. 1 to the Amended Schedule 13D), SAVF has acquired 95,700 Common Shares in the open market on the NASDAQ National Market on the dates, in the amounts and at such per share prices (excluding brokerage fees) as indicated on the Schedule of Transactions attached hereto as Exhibit 5 and incorporated herein by reference. Together with the Common Shares owned by SAVF as previously reported in the Amended Schedule 13D, SAVF is the owner of 5,566,126 Common Shares, which represents approximately 8.75% of the issued and outstanding Common Shares. SAVF II owns 779,600 Common Shares, which were acquired in the open market on the NASDAQ National Market on the dates, in the amounts and at such per share prices (excluding brokerage fees) as indicated on the Schedule of Transactions attached hereto as Exhibit 5 and incorporated herein by reference, which Common Shares represent approximately 1.23% of the issued and outstanding Common Shares. Accordingly, the Shamrock Activist Value Fund owns 6,345,726 Common Shares, which represents approximately 9.98% of the issued and outstanding Common Shares.
     As the general partner of SAVF, the General Partner may be deemed to beneficially own the 6,345,726 Common Shares owned by the Shamrock Activist Value Fund, constituting approximately 9.98% of the issued and outstanding Common Shares. As the managing member of the General Partner, Shamrock Partners may be deemed to beneficially own the 6,345,726 Common Shares owned by the Shamrock Activist Value Fund, constituting approximately 9.98% of the issued and outstanding Common Shares. Shamrock Partners has sole voting and dispositive power with respect to the 6,345,726 Common Shares owned by the Shamrock Activist Value Fund by virtue of its authority to vote and dispose of such Common Shares. Finally, each of the controlling persons of Shamrock Partners may be deemed to beneficially own the 6,345,726 Common Shares owned by the Shamrock Activist Value Fund, pursuant to Rule 13d-3 under the Act. Those controlling persons are identified in response to Item 2.

-7-


 

     The percentages set forth in this response to Items 5(a) and 5(b) assumes that 63,596,394 Common Shares were outstanding as of August 1, 2005, as represented by the Company in its 10-Q filed with the Securities Exchange Commission on August 9, 2005.
(c) Except as set forth above, none of the Reporting Persons nor, to the knowledge of the Reporting Persons, any person identified in response to Item 2, beneficially owns any Common Shares or has effected any transactions in Common Shares during the preceding 60 days.
(d) Not applicable.
(e) Not applicable.
5. ITEM 6 OF THE SCHEDULE 13D IS HEREBY AMENDED TO ADD THE FOLLOWING INFORMATION:
ITEM 6.   Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer.
     Except as disclosed in the Amended Schedule 13D, the Reporting Persons have no knowledge of any contracts, arrangements, understandings or relationships (legal or otherwise) among the persons named in response to Item 2 or between such persons and any person with respect to any securities of the Company.
6. ITEM 7 OF THE SCHEDULE 13D IS HEREBY AMENDED TO ADD THE FOLLOWING INFORMATION:
ITEM 7.   Material to be Filed as Exhibits.
     
    Document
Exhibit 5     —
  Schedule of Transactions
 
   
Exhibit 6     —
  Joint Filing Agreement, dated November 8, 2005, among Shamrock Activist Value Fund, L.P., Shamrock Activist Value Fund II, L.P., Shamrock Activist Value Fund GP, L.L.C. and Shamrock Partners Activist Value Fund, L.L.C.

-8-


 

SIGNATURES
     After reasonable inquiry and to the best of our knowledge and belief, we certify that the information set forth in this statement is true, complete and correct.
Date: November 8, 2005
         
  SHAMROCK ACTIVIST VALUE FUND, L.P.  
  By:   Shamrock Activist Value Fund GP, L.L.C.,
its general partner  
 
  By:   Shamrock Partners Activist Value Fund, L.L.C.,    
    its managing member   
       
  By:   /s/ MICHAEL J. McCONNELL    
    Name:    Michael J. McConnell  
    Title:    Vice President  
 
 
  SHAMROCK ACTIVIST VALUE FUND II, L.P.  
  By:   Shamrock Activist Value Fund GP, L.L.C.,
its general partner  
 
  By:   Shamrock Partners Activist Value Fund, L.L.C.,    
    its managing member   
     
  By:   /s/ MICHAEL J. McCONNELL    
    Name:    Michael J. McConnell  
    Title:    Vice President  
 
 
  SHAMROCK ACTIVIST VALUE FUND GP, L.L.C.  
  By:   Shamrock Partners Activist Value Fund, L.L.C.,    
    its managing member   
       
  By:   /s/ MICHAEL J. McCONNELL    
    Name:    Michael J. McConnell  
    Title:    Vice President  
 
 
  SHAMROCK PARTNERS ACTIVIST VALUE FUND, L.L.C.
 
 
  By:   /s/ MICHAEL J. McCONNELL  
    Name:    Michael J. McConnell  
    Title:    Vice President  

 


 

         
Exhibit Index
     
    Document
Exhibit 5     —
  Schedule of Transactions
 
   
Exhibit 6     —
  Joint Filing Agreement, dated November 8, 2005, among Shamrock Activist Value Fund, L.P., Shamrock Activist Value Fund II, L.P., Shamrock Activist Value Fund GP, L.L.C. and Shamrock Partners Activist Value Fund, L.L.C.

 

EX-99.5 2 a14217a2exv99w5.htm EXHIBIT 99.5 exv99w5
 

Exhibit 5
Schedule of Transactions
Shamrock Activist Value Fund, L.P.
                           
            Number of   Price Per Common
Date           Common Shares   Share in $US*
8/09/05
          66,000       $5.3000  
8/12/05
          29,700       $5.1545  
 
                   
Total Common Shares
  95,700          
Shamrock Activist Value Fund II, L.P.
                           
            Number of   Price Per Common
Date           Common Shares   Share in $US*
10/31/05
          75,000       $5.5714  
11/01/05
          150,000       $5.5446  
11/02/05
          100,000       $5.5862  
11/03/05
          78,900       $5.8317  
11/04/05
          135,000       $5.8098  
11/08/05
          240,700       $5.9040  
 
                   
Total Common Shares
  779,600        
* Excludes Brokerage Commissions

 

EX-99.6 3 a14217a2exv99w6.htm EXHIBIT 99.6 exv99w6
 

Exhibit 6
AGREEMENT
JOINT FILING OF SCHEDULE 13D AND ALL FUTURE AMENDMENTS TO SCHEDULE 13D
     Each of the undersigned hereby agrees to file jointly the Statement on Schedule 13D to which this Agreement is attached, and any amendments to the Statement on Schedule 13D (the “Schedule 13D”) with respect to Common Shares of iPass Inc. which may be deemed necessary, pursuant to Regulation 13D under the Securities Exchange Act of 1934.
     It is understood and agreed that each of the parties hereto is responsible for the timely filing of such statement and any future amendments to the Schedule 13D, and for the completeness and accuracy of the information concerning such party contained therein, but such party is not responsible for the completeness or accuracy of information concerning any other party unless such party knows or has reason to believe that such information is inaccurate.
     It is understood and agreed that a copy of this Agreement shall be attached as an exhibit to the Statement on the Schedule 13D, and any future amendments to the Schedule 13D, filed on behalf of each of the parties hereto. This Agreement amends and entirely supercedes the Joint Filing Agreement dated May 20, 2005, among Shamrock Activist Value Fund, L.P., Shamrock Activist Value Fund GP, L.L.C. and Shamrock Partners Activist Value Fund, L.L.C.
Date: November 8, 2005
         
  SHAMROCK ACTIVIST VALUE FUND, L.P.  
  By:   Shamrock Activist Value Fund GP, L.L.C.,
its general partner  
 
  By:   Shamrock Partners Activist Value Fund, L.L.C.,    
    its managing member   
     
  By:   /s/ MICHAEL J. McCONNELL    
    Name:    Michael J. McConnell  
    Title:    Vice President  

 


 

         
         
  SHAMROCK ACTIVIST VALUE FUND II, L.P.  
  By:   Shamrock Activist Value Fund GP, L.L.C.,
its general partner  
 
  By:   Shamrock Partners Activist Value Fund, L.L.C.,    
    its managing member   
     
  By:   /s/ MICHAEL J. McCONNELL    
    Name:    Michael J. McConnell  
    Title:    Vice President  
 
 
  SHAMROCK ACTIVIST VALUE FUND GP, L.L.C.  
  By:   Shamrock Partners Activist Value Fund, L.L.C.,    
    its managing member   
     
  By:   /s/ MICHAEL J. McCONNELL    
    Name:    Michael J. McConnell  
    Title:    Vice President  
 
 
  SHAMROCK PARTNERS ACTIVIST VALUE FUND, L.L.C.
 
 
  By:    /s/ MICHAEL J. McCONNELL  
    Name:    Michael J. McConnell  
    Title:    Vice President  
 

 

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