-----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, Op6OaPbYBHbhj78iPAWh/41aFCTYXQolB2RDraQseeFV3D/kCH1rJ8KXjaObosYu +ZZXgkDKIdNBkngGPIx3UQ== 0000950142-05-000383.txt : 20050211 0000950142-05-000383.hdr.sgml : 20050211 20050211165755 ACCESSION NUMBER: 0000950142-05-000383 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 3 FILED AS OF DATE: 20050211 DATE AS OF CHANGE: 20050211 GROUP MEMBERS: BRUCE WASSERSTEIN GROUP MEMBERS: CYPRESS CAPITAL ADVISORS, LLC GROUP MEMBERS: CYPRESS CAPITAL ASSETS, LP GROUP MEMBERS: CYPRESS MANAGEMENT PARTNERS, LLC GROUP MEMBERS: WASSERSTEIN HOLDINGS, LLC GROUP MEMBERS: WASSERSTEIN INVESTMENTS LLC GROUP MEMBERS: WASSERSTEIN LEVERED VENTURE PARTNERS II, LLC GROUP MEMBERS: WASSERSTEIN SBIC VENTURES II, LP GROUP MEMBERS: WPPN, LP SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: NEPHROS INC CENTRAL INDEX KEY: 0001196298 STANDARD INDUSTRIAL CLASSIFICATION: SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841] IRS NUMBER: 133971809 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G SEC ACT: 1934 Act SEC FILE NUMBER: 005-80319 FILM NUMBER: 05599718 BUSINESS ADDRESS: STREET 1: 3960 BROADWAY CITY: NEW YORK STATE: NY ZIP: 10032 BUSINESS PHONE: 2127815113 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Wasserstein Bruce CENTRAL INDEX KEY: 0001304251 FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: BUSINESS PHONE: (212) 702-5692 MAIL ADDRESS: STREET 1: 1301 6TH AVE. 44TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10019 SC 13G 1 sc13g_nephros.txt SCHEDULE 13G UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 NEPHROS, INC. ---------------- (Name of Issuer) COMMON STOCK, PAR VALUE $.001 PER SHARE --------------------------------------- (Title of Class of Securities) 640671103 -------------- (CUSIP Number) DECEMBER 31, 2004 ------------------------------------------------------- (Date of Event which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed. [_] Rule 13d-1(b) [_] Rule 13d-1(c) [X] Rule 13d-1(d) *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 reminder 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). CUSIP No. 640671103 Schedule 13G Page 2 - -------------------------------------------------------------------------------- 1. Name of Reporting Person S.S. or I.R.S. Identification No.: WPPN, LP - -------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group: (a) [_] (b) [X] - -------------------------------------------------------------------------------- 3. SEC Use Only - -------------------------------------------------------------------------------- 4. Citizenship or Place of Organization: Delaware - -------------------------------------------------------------------------------- 5. Sole Voting Power: 918,801 Number of shares ------------------------------------------------- Beneficially 6. Shared Voting Power: -0- Owned By Each ------------------------------------------------- Reporting 7. Sole Dispositive Power: 918,801 Person With ------------------------------------------------- 8. Shared Dispositive Power: -0- - -------------------------------------------------------------------------------- 9. Aggregate Amount Beneficially Owned by Each Reporting Person: 918,801 - -------------------------------------------------------------------------------- 10. Check Box if the Aggregate Amount in Row (9) Excludes Certain shares: [_] - -------------------------------------------------------------------------------- 11. Percent of Class Represented by Amount in Row (9): 7.58% - -------------------------------------------------------------------------------- 12. Type of Reporting Person: PN - -------------------------------------------------------------------------------- CUSIP No. 640671103 Schedule 13G Page 3 - -------------------------------------------------------------------------------- 1. Name of Reporting Person S.S. or I.R.S. Identification No.: Cypress Management Partners, LLC - -------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group: (a) [_] (b) [X] - -------------------------------------------------------------------------------- 3. SEC Use Only - -------------------------------------------------------------------------------- 4. Citizenship or Place of Organization: Delaware - -------------------------------------------------------------------------------- 5. Sole Voting Power: 918,801 Number of shares ------------------------------------------------- Beneficially 6. Shared Voting Power: -0- Owned By Each ------------------------------------------------- Reporting 7. Sole Dispositive Power: 918,801 Person With ------------------------------------------------- 8. Shared Dispositive Power: -0- - -------------------------------------------------------------------------------- 9. Aggregate Amount Beneficially Owned by Each Reporting Person: 918,801 - -------------------------------------------------------------------------------- 10. Check Box if the Aggregate Amount in Row (9) Excludes Certain shares: [_] - -------------------------------------------------------------------------------- 11. Percent of Class Represented by Amount in Row (9): 7.58% - -------------------------------------------------------------------------------- 12. Type of Reporting Person: OO - -------------------------------------------------------------------------------- CUSIP No. 640671103 Schedule 13G Page 4 - -------------------------------------------------------------------------------- 1. Name of Reporting Person S.S. or I.R.S. Identification No.: Cypress Capital Assets, LP - -------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group: (a) [_] (b) [X] - -------------------------------------------------------------------------------- 3. SEC Use Only - -------------------------------------------------------------------------------- 4. Citizenship or Place of Organization: Delaware - -------------------------------------------------------------------------------- 5. Sole Voting Power: 918,801 Number of shares ------------------------------------------------- Beneficially 6. Shared Voting Power: -0- Owned By Each ------------------------------------------------- Reporting 7. Sole Dispositive Power: 918,801 Person With ------------------------------------------------- 8. Shared Dispositive Power: -0- - -------------------------------------------------------------------------------- 9. Aggregate Amount Beneficially Owned by Each Reporting Person: 918,801 - -------------------------------------------------------------------------------- 10. Check Box if the Aggregate Amount in Row (9) Excludes Certain shares: [_] - -------------------------------------------------------------------------------- 11. Percent of Class Represented by Amount in Row (9): 7.58% - -------------------------------------------------------------------------------- 12. Type of Reporting Person: PN - -------------------------------------------------------------------------------- CUSIP No. 640671103 Schedule 13G Page 5 - -------------------------------------------------------------------------------- 1. Name of Reporting Person S.S. or I.R.S. Identification No.: Cypress Capital Advisors, LLC - -------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group: (a) [_] (b) [X] - -------------------------------------------------------------------------------- 3. SEC Use Only - -------------------------------------------------------------------------------- 4. Citizenship or Place of Organization: Delaware - -------------------------------------------------------------------------------- 5. Sole Voting Power: 918,801 Number of shares ------------------------------------------------- Beneficially 6. Shared Voting Power: -0- Owned By Each ------------------------------------------------- Reporting 7. Sole Dispositive Power: 918,801 Person With ------------------------------------------------- 8. Shared Dispositive Power: -0- - -------------------------------------------------------------------------------- 9. Aggregate Amount Beneficially Owned by Each Reporting Person: 918,801 - -------------------------------------------------------------------------------- 10. Check Box if the Aggregate Amount in Row (9) Excludes Certain shares: [_] - -------------------------------------------------------------------------------- 11. Percent of Class Represented by Amount in Row (9): 7.58% - -------------------------------------------------------------------------------- 12. Type of Reporting Person: OO - -------------------------------------------------------------------------------- CUSIP No. 640671103 Schedule 13G Page 6 - -------------------------------------------------------------------------------- 1. Name of Reporting Person S.S. or I.R.S. Identification No.: Wasserstein SBIC Ventures II, LP - -------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group: (a) [_] (b) [X] - -------------------------------------------------------------------------------- 3. SEC Use Only - -------------------------------------------------------------------------------- 4. Citizenship or Place of Organization: Delaware - -------------------------------------------------------------------------------- 5. Sole Voting Power: 829,104 Number of shares ------------------------------------------------- Beneficially 6. Shared Voting Power: -0- Owned By Each ------------------------------------------------- Reporting 7. Sole Dispositive Power: 829,104 Person With ------------------------------------------------- 8. Shared Dispositive Power: -0- - -------------------------------------------------------------------------------- 9. Aggregate Amount Beneficially Owned by Each Reporting Person: 829,104 - -------------------------------------------------------------------------------- 10. Check Box if the Aggregate Amount in Row (9) Excludes Certain shares: [_] - -------------------------------------------------------------------------------- 11. Percent of Class Represented by Amount in Row (9): 6.84% - -------------------------------------------------------------------------------- 12. Type of Reporting Person: PN - -------------------------------------------------------------------------------- CUSIP No. 640671103 Schedule 13G Page 7 - -------------------------------------------------------------------------------- 1. Name of Reporting Person S.S. or I.R.S. Identification No.: Wasserstein Levered Venture Partners II, LLC - -------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group: (a) [_] (b) [X] - -------------------------------------------------------------------------------- 3. SEC Use Only - -------------------------------------------------------------------------------- 4. Citizenship or Place of Organization: [Delaware] - -------------------------------------------------------------------------------- 5. Sole Voting Power: 829,104 Number of shares ------------------------------------------------- Beneficially 6. Shared Voting Power: -0- Owned By Each ------------------------------------------------- Reporting 7. Sole Dispositive Power: 829,104 Person With ------------------------------------------------- 8. Shared Dispositive Power: -0- - -------------------------------------------------------------------------------- 9. Aggregate Amount Beneficially Owned by Each Reporting Person: 829,104 - -------------------------------------------------------------------------------- 10. Check Box if the Aggregate Amount in Row (9) Excludes Certain shares: [_] - -------------------------------------------------------------------------------- 11. Percent of Class Represented by Amount in Row (9): 6.84% - -------------------------------------------------------------------------------- 12. Type of Reporting Person: OO - -------------------------------------------------------------------------------- CUSIP No. 640671103 Schedule 13G Page 8 - -------------------------------------------------------------------------------- 1. Name of Reporting Person S.S. or I.R.S. Identification No.: Wasserstein Investments LLC - -------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group: (a) [_] (b) [X] - -------------------------------------------------------------------------------- 3. SEC Use Only - -------------------------------------------------------------------------------- 4. Citizenship or Place of Organization: Delaware - -------------------------------------------------------------------------------- 5. Sole Voting Power: 834,492 Number of shares ------------------------------------------------- Beneficially 6. Shared Voting Power: -0- Owned By Each ------------------------------------------------- Reporting 7. Sole Dispositive Power: 834,492 Person With ------------------------------------------------- 8. Shared Dispositive Power: -0- - -------------------------------------------------------------------------------- 9. Aggregate Amount Beneficially Owned by Each Reporting Person: 834,492 - -------------------------------------------------------------------------------- 10. Check Box if the Aggregate Amount in Row (9) Excludes Certain shares: [_] - -------------------------------------------------------------------------------- 11. Percent of Class Represented by Amount in Row (9): 6.88% - -------------------------------------------------------------------------------- 12. Type of Reporting Person: OO - -------------------------------------------------------------------------------- CUSIP No. 640671103 Schedule 13G Page 9 - -------------------------------------------------------------------------------- 1. Name of Reporting Person S.S. or I.R.S. Identification No.: Wasserstein Holdings, LLC - -------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group: (a) [_] (b) [X] - -------------------------------------------------------------------------------- 3. SEC Use Only - -------------------------------------------------------------------------------- 4. Citizenship or Place of Organization: Delaware - -------------------------------------------------------------------------------- 5. Sole Voting Power: 834,492 Number of shares ------------------------------------------------- Beneficially 6. Shared Voting Power: -0- Owned By Each ------------------------------------------------- Reporting 7. Sole Dispositive Power: 834,492 Person With ------------------------------------------------- 8. Shared Dispositive Power: -0- - -------------------------------------------------------------------------------- 9. Aggregate Amount Beneficially Owned by Each Reporting Person: 834,492 - -------------------------------------------------------------------------------- 10. Check Box if the Aggregate Amount in Row (9) Excludes Certain shares: [_] - -------------------------------------------------------------------------------- 11. Percent of Class Represented by Amount in Row (9): 6.88% - -------------------------------------------------------------------------------- 12. Type of Reporting Person: OO - -------------------------------------------------------------------------------- CUSIP No. 640671103 Schedule 13G Page 10 - -------------------------------------------------------------------------------- 1. Name of Reporting Person S.S. or I.R.S. Identification No.: Bruce Wasserstein - -------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group: (a) [_] (b) [X] - -------------------------------------------------------------------------------- 3. SEC Use Only - -------------------------------------------------------------------------------- 4. Citizenship or Place of Organization: United States - -------------------------------------------------------------------------------- 5. Sole Voting Power: 1,928,564 Number of shares ------------------------------------------------- Beneficially 6. Shared Voting Power: -0- Owned By Each ------------------------------------------------- Reporting 7. Sole Dispositive Power: 1,928,564 Person With ------------------------------------------------- 8. Shared Dispositive Power: -0- - -------------------------------------------------------------------------------- 9. Aggregate Amount Beneficially Owned by Each Reporting Person: 1,928,564 - -------------------------------------------------------------------------------- 10. Check Box if the Aggregate Amount in Row (9) Excludes Certain shares: [_] - -------------------------------------------------------------------------------- 11. Percent of Class Represented by Amount in Row (9): 15.91% - -------------------------------------------------------------------------------- 12. Type of Reporting Person: IN - -------------------------------------------------------------------------------- CUSIP No. 640671103 Schedule 13G Page 11 - -------------------------------------------------------------------------------- SCHEDULE 13G This Schedule 13G is filed by the undersigned with respect to the shares of common stock, par value $.001 per share (the "Common Stock"), of Nephros, Inc. (the "Company"). Item 1. (a) NAME OF ISSUER Nephros, Inc. (b) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES 3960 Broadway New York, New York 10032 Item 2. (a) NAMES OF PERSONS FILING WPPN, LP ("WPPN"); Cypress Management Partners, LLC ("CMP"); Cypress Capital Assets, L.P. ("CCA"); Cypress Capital Advisors, LLC ("CC Advisors"); Wasserstein SBIC Ventures II, LP ("WV SBIC"); Wasserstein Levered Venture Partners II, LLC ("Levered"); Wasserstein Investments LLC ("WI"); Wasserstein Holdings, LLC ("WH"); and Bruce Wasserstein ("BW") and, together with WPPN, CMP, CCA, CC Advisors, WV SBIC, Levered, WI, and WH, the "Reporting Persons". The Reporting Persons are making this single, joint filing because they may be deemed to constitute a "group" within the meaning of Section 13(d)(3) of the Act, although neither the fact of this filing nor anything contained herein shall be deemed to be an admission by the Reporting Persons that such a group exists. (b) ADDRESS OF PRINCIPAL BUSINESS OFFICE 1301 Avenue of the Americas New York, NY 10019 (c) CITIZENSHIP WPPN - Delaware CMP - Delaware CCA - Delaware CC Advisors - Delaware CUSIP No. 640671103 Schedule 13G Page 12 - -------------------------------------------------------------------------------- WV SBIC - Delaware Levered - Delaware WI - Delaware WH - Delaware BW - United States (d) TITLE OF CLASS OF SECURITIES Common Stock, par value $.001 per share (the "Common Stock") (e) CUSIP NUMBER 640671103 Item 3. This Schedule 13G Statement is not being filed pursuant to Rule 13d-1(b) or Rule 13d-2(b) or (c). Item 4. (a) - (b) WPPN WPPN beneficially owns an aggregate of 918,801 shares of Common Stock, which represents approximately 7.58% of the issued and outstanding shares of Common Stock. CMP As the general partner of WPPN, CMP beneficially owns an aggregate of 918,801 shares of Common Stock, which represents approximately 7.58% of the issued and outstanding shares of Common Stock. CCA As the sole member of CMP, CCA beneficially owns an aggregate of 918,801 shares of Common Stock, which represents approximately 7.58% of the issued and outstanding shares of Common Stock. CC Advisors As the general partner of CCA, CC Advisors may be deemed to beneficially own an aggregate of 918,801 shares of Common Stock, which represents approximately 7.58% of the issued and outstanding shares of Common Stock. CUSIP No. 640671103 Schedule 13G Page 13 - -------------------------------------------------------------------------------- WV SBIC WV SBIC beneficially owns an aggregate of 829,104 shares of Common Stock, which represents approximately 6.84% of the issued and outstanding shares of Common Stock. Levered As the general partner of WV SBIC, Levered beneficially owns an aggregate of 829,104 shares of Common Stock, which represents approximately 6.84% of the issued and outstanding shares of Common Stock. WI As the sole member of Levered and the controlling person of Wasserstein & Co., L.P., WI beneficially owns an aggregate of 834,492 shares of Common Stock consisting of 829,104 shares held by WV SBIC and 5,388 shares held by WV II Employee Partnership, LLC, the managing member of which is Wasserstein & Co., L.P. This represents approximately 6.88% of the issued and outstanding shares of Common Stock. WH As the sole member of WI, WH beneficially owns an aggregate of 834,492 shares of Common Stock, which represents approximately 6.88% of the issued and outstanding shares of Common Stock. BW Because he may be deemed to control CC Advisors, WH and BW Employee Holdings, LLC, BW may be deemed to beneficially own 1,928,564 shares of Common Stock, consisting of (i) 918,801 shares directly held by WPPN, (ii) 829,104 shares directly held by WV SBIC, (III) 5,388 shares held directly by WV Employee Partnership, LLC and (iv) 175,271 shares held directly by BW Employee Holdings, LLC. This represents 15.91% of the issued and outstanding shares of Common Stock. BW disclaims beneficial ownership of these shares except for his pecuniary interest in 29,446 shares. (c) WPPN WPPN has the sole power to vote or direct the vote of 918,801 shares of Common Stock and the sole power to dispose or to direct the disposition of 918,801 shares of Common Stock. CUSIP No. 640671103 Schedule 13G Page 14 - -------------------------------------------------------------------------------- CMP As the general partner of WPPN, CMP has the sole power to vote or direct the vote of 918,801 shares of Common Stock and the sole power to dispose or to direct the disposition of 918,801 shares of Common Stock. CCA As the sole member of CMP, CCA, has the sole power to vote or direct the vote of 918,801 shares of Common Stock and the sole power to dispose or to direct the disposition of 918,801 shares of Common Stock. CC Advisors As the general partner of CCA Assets, CC Advisors has the sole power to vote or direct the vote of 918,801 shares of Common Stock and the sole power to dispose or to direct the disposition of 918,801 shares of Common Stock. WV SBIC WV SBIC has the sole power to vote or direct the vote of 829,104 shares of Common Stock and the sole power to dispose of to direct the disposition of 829,104 shares of Common Stock. Levered As the general partner of WV SBIC, Levered has the sole power to vote or direct the vote of 829,104 shares of Common Stock and the sole power to dispose or to direct the disposition of 829,104 shares of Common Stock. WI As the sole member of Levered and the controlling person of Wasserstein & Co., L.P. WI has the sole power to vote or direct the vote of 834,492 shares of Common Stock and the sole power to dispose or to direct the disposition of 834,492 shares of Common Stock. WH As the sole member of WI, WH has the sole power to vote or direct the vote of 834,492 shares of Common Stock and the sole power to dispose or direct the disposition of 834,492 shares of Common Stock. CUSIP No. 640671103 Schedule 13G Page 15 - -------------------------------------------------------------------------------- BW Because he may be deemed to control CC Advisors, WH and BW Employee Holdings, LLC, BW may be deemed to have sole power to vote or direct the vote of 1,928,564 shares of Common Stock and the sole power to dispose or direct the disposition of 1,928,564 shares of Common Stock. BW disclaims beneficial ownership of these shares except for his pecuniary interest in 29,446 shares. 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. Item 7. IDENTIFICATION AND CLASSIFICATION OF 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. CUSIP No. 640671103 Schedule 13G Page 16 - -------------------------------------------------------------------------------- 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. Dated as of February 11, 2005 WPPN, L.P. By: Cypress Management Partners, LLC its General Partner By: Cypress Capital Assets, LP its Sole Member By: Cypress Capital Advisors, LLC its General Partner By: /s/ Robert Mersten --------------------------------- Name: Robert Mersten Title: Vice President and Secretary CYPRESS MANAGEMENT PARTNERS, LLC By: Cypress Capital Assets, LP its Sole Member By: Cypress Capital Advisors, LLC its General Partner By: /s/ Robert Mersten --------------------------------- Name: Robert Mersten Title: Vice President and Secretary CYPRESS CAPITAL ASSETS, LP By: Cypress Capital Advisors, LLC its General Partner By: /s/ Robert Mersten --------------------------------- Name: Robert Mersten Title: Vice President and Secretary CUSIP No. 640671103 Schedule 13G Page 17 - -------------------------------------------------------------------------------- CYPRESS CAPITAL ADVISORS, LLC By: /s/ Robert Mersten --------------------------------- Name: Robert Mersten Title: Vice President and Secretary WASSERSTEIN SBIC VENTURES II, LP By: Wasserstein Levered Venture Partners II, LLC its General Partner By: Wasserstein Investments, LLC its Sole Member By: Wasserstein Holdings, LLC its Sole Member By: /s/ Townsend Ziebold --------------------------------- Name: Townsend Ziebold Title: President WASSERSTEIN LEVERED VENTURE PARTNERS II, LLC By: Wasserstein Investments, LLC its Sole Member By: Wasserstein Holdings, LLC its Sole Member By: /s/ Townsend Ziebold --------------------------------- Name: Townsend Ziebold Title: President CUSIP No. 640671103 Schedule 13G Page 18 - -------------------------------------------------------------------------------- WASSERSTEIN INVESTMENTS, LLC By: Wasserstein Holdings, LLC its Sole Member By: /s/ Robert Mersten --------------------------------- Name: Robert Mersten Title: Vice President and Secretary WASSERSTEIN HOLDINGS, LLC By: /s/ Robert Mersten --------------------------------- Name: Robert Mersten Title: Vice President and Secretary * /s/ Townsend Ziebold ----------------------- W. Townsend Ziebold, Jr. for Bruce Wasserstein* * Pursuant to a Power of Attorney filed herewith as Exhibit 2. EX-1 2 ex-1sc13g_nephros.txt EXHIBIT 1 EXHIBIT 1 --------- STATEMENT PURSUANT TO RULE 13d-1(k)(1) The undersigned acknowledge and agree that the foregoing statement on Schedule 13G is filed on behalf of each of the undersigned and that all subsequent amendments to this statement on Schedule 13G shall be filed on behalf of each of the undersigned without the necessity of filing additional joint acquisition statements. The undersigned acknowledge that each shall be responsible for the timely filing of such amendments, and for the completeness and accuracy of the information concerning him, her or it contained herein, but shall not be responsible for the completeness and accuracy of the information concerning the other entities or persons, except to the extent that he, she or it knows or has reason to believe that such information is accurate. Dated as of February 11, 2005 WPPN, L.P. By: Cypress Management Partners, LLC its General Partner By: Cypress Capital Assets, LP its Sole Member By: Cypress Capital Advisors, LLC its General Partner By: /s/ Robert Mersten --------------------------------- Name: Robert Mersten Title: Vice President and Secretary CYPRESS MANAGEMENT PARTNERS, LLC By: Cypress Capital Assets, LP its Sole Member By: Cypress Capital Advisors, LLC its General Partner By: /s/ Robert Mersten --------------------------------- Name: Robert Mersten Title: Vice President and Secretary CYPRESS CAPITAL ASSETS, LP By: Cypress Capital Advisors, LLC its General Partner By: /s/ Robert Mersten --------------------------------- Name: Robert Mersten Title: Vice President and Secretary CYPRESS CAPITAL ADVISORS, LLC By: /s/ Robert Mersten --------------------------------- Name: Robert Mersten Title: Vice President and Secretary WASSERSTEIN SBIC VENTURES II, LP By: Wasserstein Levered Venture Partners II, LLC its General Partner By: Wasserstein Investments, LLC its Sole Member By: Wasserstein Holdings, LLC its Sole Member By: /s/ Townsend Ziebold --------------------------------- Name: Townsend Ziebold Title: President WASSERSTEIN LEVERED VENTURE PARTNERS II, LLC By: Wasserstein Investments, LLC its Sole Member By: Wasserstein Holdings, LLC its Sole Member By: /s/ Townsend Ziebold --------------------------------- Name: Townsend Ziebold Title: President WASSERSTEIN INVESTMENTS, LLC By: Wasserstein Holdings, LLC its Sole Member By: /s/ Robert Mersten --------------------------------- Name: Robert Mersten Title: Vice President and Secretary WASSERSTEIN HOLDINGS, LLC By: /s/ Robert Mersten --------------------------------- Name: Robert Mersten Title: Vice President and Secretary * /s/ Townsend Ziebold ----------------------- W. Townsend Ziebold, Jr. for Bruce Wasserstein* * Pursuant to a Power of Attorney filed herewith as Exhibit 2. EX-2 3 ex-2sc13g_nephros.txt EXHIBIT 2 EXHIBIT 2 --------- POWER OF ATTORNEY Know all by these presents, that the undersigned hereby constitutes and appoints W. Townsend Ziebold, Jr., the undersigned's true and lawful attorney-in-fact to: (1) execute for and on behalf of the undersigned, in the undersigned's capacity as a beneficial owner of the securities of Nephros, Inc. (the "Company), (a) Forms 3, 4, and 5 in accordance with Section 16(a) of the Securities Exchange Act of 1934 and the rules thereunder, (b) Schedule 13D and/or Schedule 13G (and the amendments thereof) in accordance with Section 13(d) of the Exchange Act and the rules thereunder, and (c) any questionnaires required by the Company or its underwriters in connection with any public offering by the Company or any stockholder of the Company, of the Company's securities; (2) do and perform any and all acts for and on behalf of the undersigned which may be necessary or desirable to complete and execute any (a) such Form 3, 4, or 5, complete and execute any amendment or amendments thereto and timely file such form with the United States Securities and Exchange Commission (the "SEC") and any stock exchange or similar authority, (b) such Schedule 13D or Schedule 13G, complete and execute any amendment or amendments thereto, and timely file such Schedule with the SEC and any stock exchange or similar authority, and (c) such questionnaires required by the Company or its underwriters in connection with any public offering by the Company or any stockholder of the Company, of the Company's securities; and (3) take any other action of any type whatsoever in connection with the foregoing which, in the opinion of such attorney-in-fact, may be of benefit to, in the best interest of, or legally required by, the undersigned, it being understood that the documents executed by such attorney-in-fact on behalf of the undersigned pursuant to this Power of Attorney shall be in such form and/or schedule and shall contain such terms and conditions as such attorney-in-fact may approve in such attorney-in-fact's discretion. The undersigned hereby grants to such attorney-in-fact full power and authority to do and perform any and every act and thing whatsoever requisite, necessary, or proper to be done in the exercise of any of the rights and powers herein granted, as fully to all intents and purposes as the undersigned might or could do if personally present, with full power of substitution or revocation, hereby ratifying and confirming all that such attorney-in-fact, or such attorney-in-fact's substitute or substitutes, shall lawfully do or cause to be done by virtue of this power of attorney and the rights and powers herein granted. The undersigned acknowledges that the foregoing attorney-in-fact, in serving in such capacity at the request of the undersigned, is not assuming, any of the undersigned's responsibilities to comply with Section 16 or Section 13 of the Securities Exchange Act of 1934. This Power of Attorney shall remain in full force and effect until the undersigned is no longer required to file Forms 3, 4, and 5 and Schedule 13D or Schedule 13G with respect to the undersigned's holdings of and transactions in securities issued by the Company, unless earlier revoked by the undersigned in a signed writing delivered to the foregoing attorney-in-fact. IN WITNESS WHEREOF, the undersigned has caused this Power of Attorney to be executed as of this 14th day of July, 2004. /s/ Bruce Wasserstein - -------------------------- Signature -----END PRIVACY-ENHANCED MESSAGE-----