-----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, MZMylMeqh4e05FHMyoPuXZvAMVMcUtR0zz82RttETFearls6/Tg6YXAVFxSflfzU PKIoWqssP5c3MEryVqafvg== 0001072613-04-001458.txt : 20040806 0001072613-04-001458.hdr.sgml : 20040806 20040806160911 ACCESSION NUMBER: 0001072613-04-001458 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20040806 GROUP MEMBERS: ATV III AFFILIATES FUND, LP GROUP MEMBERS: ATV III PARTNERS, LLC GROUP MEMBERS: J. CONNOR SEABROOK GROUP MEMBERS: MICHAEL A. HENOS GROUP MEMBERS: MICHAEL R. SLAWSON GROUP MEMBERS: WILLIAM L. LYMAN FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: ALLIANCE TECHNOLOGY VENTURES LIMITED PARTNERSHIP CENTRAL INDEX KEY: 0000916911 IRS NUMBER: 582081073 STATE OF INCORPORATION: DE FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 8995 WESTSIDE PARKWAY, SUITE 200 CITY: ALPHARETTA STATE: GA ZIP: 30004 BUSINESS PHONE: 6783362000 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: INHIBITEX INC CENTRAL INDEX KEY: 0001274913 STANDARD INDUSTRIAL CLASSIFICATION: BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836] IRS NUMBER: 742708737 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-79900 FILM NUMBER: 04958257 BUSINESS ADDRESS: STREET 1: 1165 SANCTUARY PARKWAY STREET 2: SUITE 400 CITY: ALPHARETTA STATE: GA ZIP: 30004 BUSINESS PHONE: 678-746-1100 MAIL ADDRESS: STREET 1: 1165 SANCTUARY PARKWAY STREET 2: SUITE 400 CITY: ALPHARETTA STATE: GA ZIP: 30004 SC 13D/A 1 schedule-13da_12880.txt ALLIANCE TECHNOLOGY VENTURES ================================================================================ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D UNDER THE SECURITIES EXCHANGE ACT OF 1934 (AMENDMENT NO. 1)* Inhibitex, Inc. - -------------------------------------------------------------------------------- (Name of Issuer) Common Stock, $.001 par value - -------------------------------------------------------------------------------- (Title of Class of Securities) 45719T103 - -------------------------------------------------------------------------------- (CUSIP Number) J. Connor Seabrook Alliance Technology Ventures 8995 Westside Parkway, Suite 200, Alpharetta, GA 30004 - -------------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) June 3, 2004 - -------------------------------------------------------------------------------- (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 ss.ss.240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. [_] NOTE: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See ss.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). ================================================================================ Page 1 of 16 Pages ==================== =================== CUSIP NO. 45719T103 13D PAGE 2 OF 16 PAGES ==================== =================== ================================================================================ 1 NAMES OF REPORTING PERSONS. I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY). Alliance Technology Ventures III, Limited Partnership - ----- ------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)(a)[_] (b)[_] - ----- ------------------------------------------------------------------------- 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) [_] - ----- ------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware Limited Partnership - ----- ------------------------------------------------------------------------- 7 SOLE VOTING POWER 0 shares ----- -------------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES BENEFICIALLY 1,335,097 shares OWNED BY ----- -------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON 0 shares WITH ----- -------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 1,335,097 shares - ----- ------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,335,097 shares - ----- ------------------------------------------------------------------------- 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) [_] - ----- ------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7.6% - ----- ------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) CO ================================================================================ Page 2 of 16 Pages ==================== =================== CUSIP NO. 45719T103 13D PAGE 3 OF 16 PAGES ==================== =================== ================================================================================ 1 NAMES OF REPORTING PERSONS. I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY). ATV III Affiliates Fund, Limited Partnership - ----- ------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)(a)[_] (b)[_] - ----- ------------------------------------------------------------------------- 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) [_] - ----- ------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware Limited Partnership - ----- ------------------------------------------------------------------------- 7 SOLE VOTING POWER 0 shares ----- -------------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES BENEFICIALLY 1,335,097 shares OWNED BY ----- -------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON 0 shares WITH ----- -------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 1,335,097 shares - ----- ------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,335,097 shares - ----- ------------------------------------------------------------------------- 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) [_] - ----- ------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7.6% - ----- ------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) CO ================================================================================ Page 3 of 16 Pages ==================== =================== CUSIP NO. 45719T103 13D PAGE 4 OF 16 PAGES ==================== =================== ================================================================================ 1 NAMES OF REPORTING PERSONS. I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY). ATV III Partners, LLC - ----- ------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)(a)[_] (b)[_] - ----- ------------------------------------------------------------------------- 3 SEC USE ONLY - ----- ------------------------------------------------------------------------- 4 SOURCE OF FUNDS (SEE INSTRUCTIONS) AF - ----- ------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [_] - ----- ------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware Limited Liability Company - ----- ------------------------------------------------------------------------- 7 SOLE VOTING POWER 0 shares ----- -------------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES BENEFICIALLY 1,335,097 shares OWNED BY ----- -------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON 0 shares WITH ----- -------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 1,335,097 shares - ----- ------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,335,097 shares - ----- ------------------------------------------------------------------------- 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) [_] - ----- ------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7.6% - ----- ------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) CO ================================================================================ Page 4 of 16 Pages ==================== =================== CUSIP NO. 45719T103 13D PAGE 5 OF 16 PAGES ==================== =================== ================================================================================ 1 NAMES OF REPORTING PERSONS. I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY). Michael R. Slawson - ----- ------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)(a)[_] (b)[_] - ----- ------------------------------------------------------------------------- 3 SEC USE ONLY - ----- ------------------------------------------------------------------------- 4 SOURCE OF FUNDS (SEE INSTRUCTIONS) AF - ----- ------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [_] - ----- ------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION United States Citizen - ----- ------------------------------------------------------------------------- 7 SOLE VOTING POWER 0 shares ----- -------------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES BENEFICIALLY 1,335,097 shares OWNED BY ----- -------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON 0 shares WITH ----- -------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 1,335,097 shares - ----- ------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,335,097 shares - ----- ------------------------------------------------------------------------- 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) [_] - ----- ------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7.6% - ----- ------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) IN ================================================================================ Page 5 of 16 Pages ==================== =================== CUSIP NO. 45719T103 13D PAGE 6 OF 16 PAGES ==================== =================== ================================================================================ 1 NAMES OF REPORTING PERSONS. I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY). William L. Lyman - ----- ------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)(a)[_] (b)[_] - ----- ------------------------------------------------------------------------- 3 SEC USE ONLY - ----- ------------------------------------------------------------------------- 4 SOURCE OF FUNDS (SEE INSTRUCTIONS) AF - ----- ------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [_] - ----- ------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION United States Citizen - ----- ------------------------------------------------------------------------- 7 SOLE VOTING POWER 0 shares ----- -------------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES BENEFICIALLY 1,335,097 shares OWNED BY ----- -------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON 0 shares WITH ----- -------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 1,335,097 shares - ----- ------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,335,097 shares - ----- ------------------------------------------------------------------------- 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) [_] - ----- ------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7.6% - ----- ------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) IN ================================================================================ Page 6 of 16 Pages ==================== =================== CUSIP NO. 45719T103 13D PAGE 7 OF 16 PAGES ==================== =================== ================================================================================ 1 NAMES OF REPORTING PERSONS. I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY). J. Connor Seabrook - ----- ------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)(a)[_] (b)[_] - ----- ------------------------------------------------------------------------- 3 SEC USE ONLY - ----- ------------------------------------------------------------------------- 4 SOURCE OF FUNDS (SEE INSTRUCTIONS) AF - ----- ------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [_] - ----- ------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION United States Citizen - ----- ------------------------------------------------------------------------- 7 SOLE VOTING POWER 0 shares ----- -------------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES BENEFICIALLY 1,335,097 shares OWNED BY ----- -------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON 0 shares WITH ----- -------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 1,335,097 shares - ----- ------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,335,097 shares - ----- ------------------------------------------------------------------------- 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) [_] - ----- ------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 7.6% - ----- ------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) IN ================================================================================ Page 7 of 16 Pages ==================== =================== CUSIP NO. 45719T103 13D PAGE 8 OF 16 PAGES ==================== =================== ================================================================================ 1 NAMES OF REPORTING PERSONS. I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY). Michael A. Henos - ----- ------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)(a)[_] (b)[_] - ----- ------------------------------------------------------------------------- 3 SEC USE ONLY - ----- ------------------------------------------------------------------------- 4 SOURCE OF FUNDS (SEE INSTRUCTIONS) AF - ----- ------------------------------------------------------------------------- 5 CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [_] - ----- ------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION United States Citizen - ----- ------------------------------------------------------------------------- 7 SOLE VOTING POWER 12,158 shares ----- -------------------------------------------------------- NUMBER OF 8 SHARED VOTING POWER SHARES BENEFICIALLY 3,034,629 shares OWNED BY ----- -------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING PERSON 12,158 shares WITH ----- -------------------------------------------------------- 10 SHARED DISPOSITIVE POWER 3,034,629 shares - ----- ------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 3,046,787 shares - ----- ------------------------------------------------------------------------- 12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) [_] - ----- ------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 17.4% - ----- ------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) IN ================================================================================ Page 8 of 16 Pages ==================== =================== CUSIP NO. 45719T103 13D PAGE 9 OF 16 PAGES ==================== =================== Schedule 13D Item 1. Security and Issuer. ------------------- This statement relates to the Common Stock, $.001 par value (the "Common Stock") of Inhibitex, Inc. (the "Issuer") having its principal executive office at 1165 Sanctuary Parkway, Suite 400, Alpharetta, Georgia 30004. Item 2. Identity and Background. ----------------------- This statement is being filed by Alliance Technology Ventures III, Limited Partnership ("ATV III"); ATV III Affiliates Fund, Limited Partnership ("ATV III Affiliates"); ATV III Partners, LLC ("ATV Partners"); Michael R. Slawson ("Slawson"); William L. Lyman ("Lyman"); J. Connor Seabrook ("Seabrook") and Michael A. Henos ("Henos"). The entities and persons named in this paragraph are referred to individually herein as a "Reporting Person" and collectively as the "Reporting Persons." The address of the principal business office of each of ATV III, ATV III Affiliates, ATV Partners and Messrs. Henos, Slawson, Lyman and Seabrook is 8995 Westside Parkway, Suite 200, Alpharetta, GA, 30004. Henos is the sole general partner of Alliance Technology Ventures, Limited Partnership ("ATV"); ATV/GP Parallel Fund, Limited Partnership ("ATV/GP") and ATV/MFJ Parallel Fund, Limited Partnership ("ATV/MFJ"). Alliance Associates II, LLC ("Alliance Associates II") is the sole general partner of Alliance Technology Ventures II, Limited Partnership ("ATV II") and ATV II Affiliates Fund, Limited Partnership ("ATV II Affiliates"). ATV Partners is the sole general partner of ATV III and ATV III Affiliates. Henos and Slawson are individual managers of Alliance Associates II, in which Henos holds control over the disposition of the ATV II and ATV II Affiliates investment in the Issuer. Henos, Slawson, Lyman and Seabrook are individual managers of ATV Partners, in which each manager holds shared control over the disposition of the ATV III and ATV III Affiliates investment in the Issuer. The principal business of ATV III and ATV III Affiliates is to invest in and assist growth-oriented businesses located principally in the United States. The principal business of ATV Partners is to act as the sole general partner of ATV III and ATV III Affiliates. The principal business of Mr. Henos is to act as the sole general partner of ATV, ATV/GP and ATV/MFJ and as a manager of Alliance Associates II and ATV Partners and a number of affiliated partnerships with similar businesses. The principal business of Messrs. Slawson, Lyman and Seabrook is to act as the managers of ATV Partners and other affiliated partnerships with similar businesses. During the five years prior to the date hereof, none of the Reporting Persons has been convicted in a criminal proceeding or has been a party to a civil proceeding ending in a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws. Each of ATV III and ATV III Affiliates is a limited partnership organized under the laws of the State of Delaware. ATV Partners is a limited liability company organized under the laws of the State of Delaware. Each of Messrs. Henos, Slawson, Lyman and Seabrook is a United States citizen. Page 9 of 16 Pages ==================== =================== CUSIP NO. 45719T103 13D PAGE 10 OF 16 PAGES ==================== =================== Item 3. Source and Amount of Funds or Other Consideration. ------------------------------------------------- ATV, ATV/GP and ATV/MFJ purchased 143,335, 39,100 and 10,865 shares, respectively, of Series B Convertible Preferred Stock, $.001 par value per share (the "Series B Preferred Stock"), for $1.164 per share from the Issuer in a private transaction on July 28, 1997. ATV, ATV/GP and ATV/MFJ purchased 285,730, 79,215 and 21,655 shares, respectively, of Series B Preferred Stock for $1.164 per share from the Issuer in a private transaction on November 6, 1997. ATV, ATV/GP and ATV/MFJ purchased 428,580, 118,840 and 32,475 shares, respectively, of Series B Preferred Stock for $1.164 per share from the Issuer in a private transaction on March 23, 1998. ATV, ATV/GP and ATV/MFJ purchased 224,182, 62,162 and 16,989 shares, respectively, of Series B Preferred Stock for $1.50 per share from the Issuer in a private transaction on July 2, 1998. In connection with private bridge financing transactions on March 31, 1999, August 18, 1999 and March 1, 2000, ATV, ATV/GP and ATV/MFJ purchased warrants to purchase 78,662, 21,878 and 5,961 shares, respectively, of Series B Preferred Stock (the "Series B Warrants"). ATV, ATV/GP and ATV/MFJ received 279,198, 77,645 and 21,158 shares, respectively, of Series C Convertible Preferred Stock, $.001 par value per share (the "Series C Preferred Stock"), from the Issuer when the principal and interest in the above referenced private bridge financing transactions was converted into Series C Preferred Stock at a price of $2.85 per share. On April 7, 2000, ATV II purchased 131,579 shares of Series C Preferred Stock, for $2.85 per share from the Issuer in a private transaction. On April 18, 2000, ATV II and ATV II Affiliates purchased 126,316 and 5,263 shares, respectively, of Series C Preferred Stock for $2.85 per share from the Issuer in a private transaction. On June 8, 2000, ATV II and ATV II Affiliates purchased 85,964 and 1,755 shares, respectively, of Series C Preferred Stock for $2.85 per share from the Issuer in a private transaction. On October 13, 2000, ATV II, ATV II Affiliates and ATV III purchased 343,859, 7,018 and 350,877 shares, respectively of Series C Preferred Stock for $2.85 per share from the Issuer in a private transaction. On November 1, 2000, ATV III purchased 350,877 shares of Series C Preferred Stock for $2.85 per share from the Issuer in a private transaction. On February 7, 2002, ATV II, ATV II Affiliates, ATV III and ATV III Affiliates purchased 507,615, 20,720, 1,015,230 and 16,822 shares of Series D Convertible Preferred Stock, $.001 par value per share (the "Series D Preferred Stock") for $3.94 per share from the Issuer in a private transaction. In connection with the purchase of the Series D Preferred Stock, ATV II, ATV II Affiliates, ATV III and ATV III Affiliates also purchased warrants to purchase 126,904, 5,180, 253,808 and 4,206 shares, respectively, of Series D Preferred Stock (the "Series D Warrants") at an exercise price of $5.91 per share, which warrants are immediately exercisable. The aggregate purchase price of the Series D Preferred Stock and the Series D Warrants purchased by ATV II, ATV II Affiliates, ATV III and ATV III Affiliates was $2,000,003, $81,637, $4,000,006 and $66,279, respectively. On December 19, 2003, ATV II, ATV II Affiliates, ATV III and ATV III Affiliates purchased 152,285, 4,711, 507,615 and 8,411 shares of Series E Convertible Preferred Stock, $.001 par value per share (the "Series E Preferred Stock" and, collectively with the Series B Preferred Stock, Series C Preferred Stock and Series D Preferred Stock, the "Preferred Stock") for $3.94 per share from the Issuer in a private transaction. In connection with the purchase of the Series E Preferred Stock, ATV II, ATV II Affiliates, ATV III and ATV III Affiliates also purchased warrants to purchase 38,071, 1,177, 126,903 and 2,102 shares, respectively, of Series E Preferred Stock (the "Series E Warrants") at an exercise price of $5.91 per share, which warrants are immediately exercisable. The aggregate purchase price of the Series E Preferred Stock and the Series E Warrants purchased by ATV II, ATV II Affiliates, ATV III and ATV III Affiliates was $600,003, $18,561, $2,000,003 and $33,139, respectively. On May 21, 2004, the Issuer effected a 1-for-2.38 reverse stock split of its Common Stock and as a result, each of the shares of Preferred Stock was convertible into approximately .42 of a share of Common Stock. Pursuant to its terms, the Preferred Stock automatically converted into shares of Page 10 of 16 Pages ==================== =================== CUSIP NO. 45719T103 13D PAGE 11 OF 16 PAGES ==================== =================== Common Stock (the "Shares") upon the effective date of the Issuer's initial public offering (the "IPO"). Pursuant to their terms the Series B Warrants, Series D Warrants and Series E Warrants (collectively, the "Warrants") became exercisable for shares of Common Stock upon the effective date of the Issuer's IPO. On June 3, 2004, ATV II, ATV II Affiliates, ATV III and ATV III Affiliates purchased an additional 40,000, 2,400, 60,000 and 600 shares, respectively of Common Stock at $7.00 per share in connection with the Issuer's IPO. On June 9, 2004, ATV, ATV/GP and ATV/MFJ received 37,565, 10,447 and 2,847 shares (post-split), respectively, of Series C Preferred Stock as an accumulated dividend on each entity's Series C Preferred Stock holdings. The dividends received by ATV, ATV/GP and ATV/MFJ were automatically converted into Common Stock. On June 9, 2004, ATV II, ATV II Affiliates, ATV III and ATV III Affiliates received 130,544, 2,595, 165,254 and 1,320 shares (post-split), respectively of Series C Preferred Stock and Series D Preferred Stock as an accumulated dividend on each entity's Series C Preferred Stock and Series D Preferred Stock holdings. The dividends received by ATV II, ATV II Affiliates, ATV III and ATV III Affiliates were automatically converted into Common Stock. The working capital of ATV, ATV/GP, ATV/MFJ, ATV II, ATV II Affiliates, ATV III and ATV III Affiliates was the source of the funds for each purchase described above. No part of the purchase price paid by such entities was represented by funds or other consideration borrowed or otherwise obtained for the purpose of acquiring, holding, trading or voting the securities of the Issuer. Henos is a member of the Issuer's board of directors and is also the sole general partner of ATV, ATV/GP and ATV/MFJ, a manager of Alliance Associates II, LLC, which is the general partner of ATV II and ATV II Affiliates, and a manager of ATV III Partners, LLC, which is the general partner of ATV III and ATV III Affiliates. Item 4. Purpose of Transaction. ---------------------- The Reporting Persons acquired the securities of the Issuer for investment purposes. Depending on market conditions, its continuing evaluation of the business and prospects of the Issuer and other factors, the Reporting Persons may dispose of or acquire additional Common Stock of the Issuer. Henos is a member of the Board of Directors. Except as set forth above, none of the Reporting Persons has any present plans which relate to or would result in: (a) The acquisition by any person of additional securities of the Issuer, or the disposition of securities of the Issuer; (b) An extraordinary corporate transaction, such as a merger, reorganization or liquidation, involving the Issuer or any of its subsidiaries; (c) A sale or transfer of a material amount of assets of the Issuer or any of its subsidiaries; (d) Any change in the present board of directors or management of the Issuer, including any plans or proposals to change the number or term of directors or to fill any existing vacancies on the board; (e) Any material change in the present capitalization or dividend policy of the Issuer; (f) Any other material change in the Issuer's business or corporate structure; (g) Changes in the Issuer's charter, bylaws or instruments corresponding thereto or other actions which may impede the acquisition of control of the Issuer by any person; (h) Causing a class of securities of the Issuer to be delisted from a national securities exchange or to cease to be authorized to be quoted in an inter-dealer quotation system of a registered national securities association; Page 11 of 16 Pages ==================== =================== CUSIP NO. 45719T103 13D PAGE 12 OF 16 PAGES ==================== =================== (i) A class of equity securities of the Issuer becoming eligible for termination of registration pursuant to Section 12(g)(4) of the Securities Exchange Act of 1934; or (j) Any action similar to any of those enumerated above. Item 5. Interest in Securities of the Issuer. ------------------------------------ (a) ATV III is the record owner of 1,319,923 shares of Common Stock. ATV III Affiliates is the record owner of 15,174 shares of Common Stock. Henos is the record owner of 12,158 shares of Common Stock. By virtue of the affiliate relationship among ATV III and ATV III Affiliates, each of ATV III and ATV III Affiliates may be deemed to own beneficially 1,335,097 shares of Common Stock. As the general partner of ATV III and ATV III Affiliates, ATV Partners may be deemed to own beneficially 1,335,097 shares of Common Stock. In their capacity as managers of ATV Partners, each of Messrs. Slawson, Lyman and Seabrook may be deemed to own beneficially 1,335,097 shares of Common Stock. In his capacity as (i) the sole general partner of ATV, ATV/GP and ATV/MFJ, (ii) a controlling manager of Alliance Associates II, (iii) a manager of ATV Partners, (iv) and as the record owner of 12,158 shares of Common Stock, Henos may be deemed to own beneficially 3,046,787 shares of Common Stock. Each of ATV III, ATV III Affiliates, ATV Partners and Messrs. Slawson, Lyman and Seabrook may be deemed to own beneficially 7.6% of the Issuer's Common Stock. Mr. Henos may be deemed to own beneficially 17.4% of the Issuer's Common Stock. Such percentages have been calculated based upon 17,495,610 shares reported to be outstanding in the Issuer's Prospectus filed pursuant to Rule 424(b)(4), which was filed on June 4, 2004. Each of the Reporting Persons expressly disclaims beneficial ownership of any shares, except to the extent of their pecuniary interest therein, if any, of the Common Stock, except in the case of ATV III for the 1,319,923 shares which it holds of record; ATV III Affiliates for the 15,174 shares which it holds of record; and Henos for the 12,158 shares which he holds of record. (b) Regarding the number of shares as to which such person has: (i) sole power to vote or to direct the vote: 0 shares for each of the Reporting Persons, except Mr. Henos. Mr. Henos holds personally 12,158 shares of Common stock. (ii) shared power to vote or to direct the vote: Alliance Technology Ventures III, Limited Partnership: 1,335,097 ATV III Affiliates Fund, Limited Partnership: 1,335,097 ATV III Partners, LLC: 1,335,097 Michael R. Slawson: 1,335,097 William L. Lyman: 1,335,097 J. Connor Seabrook: 1,335,097 Michael A. Henos: 3,034,629 (iii) sole power to dispose or to direct the disposition: 0 shares for each of the Reporting Persons except Mr. Henos. Mr. Henos holds personally 12,158 shares of Common stock. Page 12 of 16 Pages ==================== =================== CUSIP NO. 45719T103 13D PAGE 13 OF 16 PAGES ==================== =================== (iv) shared power to dispose or to direct the disposition: Alliance Technology Ventures III, Limited Partnership: 1,335,097 ATV III Affiliates Fund, Limited Partnership: 1,335,097 ATV III Partners, LLC: 1,335,097 Michael R. Slawson: 1,335,097 William L. Lyman: 1,335,097 J. Connor Seabrook: 1,335,097 Michael A. Henos: 3,034,629 (c) Except as set forth in Item 3 above, none of the Reporting Persons has effected any transaction in the Common Stock during the last 60 days. (d) No other person is known to have the right to receive or the power to direct the receipt of dividends from, or any proceeds from the sale of, Record Shares beneficially owned by any of the Reporting Persons. (e) Not Applicable. Item 6. Contracts, Arrangements, Undertakings or Relationships with Respect ------------------------------------------------------------------- to Securities of the Issuer. --------------------------- Not applicable. Item 7. Material to be Filed as Exhibits. -------------------------------- Exhibit 1 - Agreement regarding filing of joint Schedule 13D. Exhibit 2 - Power of Attorney regarding Schedule 13D filings. Page 13 of 16 Pages ==================== =================== CUSIP NO. 45719T103 13D PAGE 14 OF 16 PAGES ==================== =================== SIGNATURE --------- After reasonable inquiry and to the best of its knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct. We also hereby agree to file this statement jointly pursuant to the Agreement listed on Exhibit 1 hereto. Date: August 6, 2004 ALLIANCE TECHNOLOGY VENTURES III, LIMITED PARTNERSHIP By: ATV III PARTNERS, LLC By: * --------------------------------------- Michael A. Henos Manager ATV III AFFILIATES FUND, LIMITED PARTNERSHIP By: ATV III PARTNERS, LLC By: * --------------------------------------- Michael A. Henos Manager ATV III PARTNERS, LLC By: * ----------------------------------------- Michael A. Henos Manager * - ---------------------------------------------- MICHAEL A. HENOS * - ---------------------------------------------- MICHAEL R. SLAWSON * - ---------------------------------------------- WILLIAM L. LYMAN * - ---------------------------------------------- J. CONNOR SEABROOK * The undersigned attorney-in-fact, by signing his name below, does hereby sign this statement on behalf of the above indicated filers pursuant to the Power of Attorney filed hereto as Exhibit 2. --------- /s/ Michael A. Henos ------------------------------------ Michael A. Henos Attorney-in-Fact Page 14 of 16 Pages ==================== =================== CUSIP NO. 45719T103 13D PAGE 15 OF 16 PAGES ==================== =================== EXHIBIT 1 --------- AGREEMENT Pursuant to Rule 13d-1(k)(1) under the Securities Exchange Act of 1934, the undersigned hereby agree that only one statement containing the information required by Schedule 13D need be filed with respect to the ownership by each of the undersigned of shares of stock of Inhibitex, Inc. EXECUTED this 6th day of August, 2004. ALLIANCE TECHNOLOGY VENTURES III, LIMITED PARTNERSHIP By: ATV III PARTNERS, LLC By: * -------------------------------------- Michael A. Henos Manager ATV III AFFILIATES FUND, LIMITED PARTNERSHIP By: ATV III PARTNERS, LLC By: * -------------------------------------- Michael A. Henos Manager ATV III PARTNERS, LLC By: * ------------------------------------- Michael A. Henos Manager * - ------------------------------------------ MICHAEL R. SLAWSON * - ------------------------------------------ WILLIAM L. LYMAN * - ------------------------------------------ J. CONNOR SEABROOK /s/ Michael A. Henos ------------------------------------ Michael A. Henos Individually and as Attorney-in-Fact This Schedule 13D was executed by Michael A. Henos on behalf of the individuals listed above pursuant to a Power of Attorney which is being filed with the Securities and Exchange Commission with this Schedule 13D filing for Inhibitex, Inc. and said Power of Attorney is incorporated herein by reference and a copy of which is attached as Exhibit 2. Page 15 of 16 Pages ==================== =================== CUSIP NO. 45719T103 13D PAGE 16 OF 16 PAGES ==================== =================== EXHIBIT 2 --------- POWER OF ATTORNEY KNOW ALL MEN BY THESE PRESENTS, that each person whose signature appears below hereby constitutes and appoints Michael A. Henos with full power to act without the other, his true and lawful attorney-in-fact, with full power of substitution, to sign any and all instruments, certificates and documents that may be necessary, desirable or appropriate to be executed on behalf of himself as an individual or in his capacity as general partner of any partnership, pursuant to section 13 or 16 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and any and all regulations promulgated thereunder, and to file the same, with all exhibits thereto, and any other documents in connection therewith, with the Securities and Exchange Commission, and with any other entity when and if such is mandated by the Exchange Act or by the By-laws of the National Association of Securities Dealers, Inc., granting unto said attorney-in-fact full power and authority to do and perform each and every act and thing necessary, desirable or appropriate, fully to all intents and purposes as he might or could do in person, thereby ratifying and confirming all that said attorney-in-fact, or his substitutes, may lawfully do or cause to be done by virtue hereof. IN WITNESS WHEREOF, this Power of Attorney has been signed as of the 14th day of June, 2004. /s/ Michael R. Slawson ------------------------------------ Michael R. Slawson /s/ William L. Lyman ------------------------------------ William L. Lyman /s/ J. Connor Seabrook ------------------------------------ J. Connor Seabrook Page 16 of 16 Pages -----END PRIVACY-ENHANCED MESSAGE-----