0000921895-15-000912.txt : 20150410 0000921895-15-000912.hdr.sgml : 20150410 20150410135732 ACCESSION NUMBER: 0000921895-15-000912 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20150410 DATE AS OF CHANGE: 20150410 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: YuMe Inc CENTRAL INDEX KEY: 0001415624 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-ADVERTISING AGENCIES [7311] IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-87912 FILM NUMBER: 15763501 BUSINESS ADDRESS: STREET 1: 1204 MIDDLEFIELD ROAD CITY: Redwood City STATE: CA ZIP: 94063 BUSINESS PHONE: 650-591-9400 MAIL ADDRESS: STREET 1: 1204 MIDDLEFIELD ROAD CITY: Redwood City STATE: CA ZIP: 94063 FORMER COMPANY: FORMER CONFORMED NAME: Yume Inc DATE OF NAME CHANGE: 20071018 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: AVI Partners, LLC CENTRAL INDEX KEY: 0001603432 IRS NUMBER: 900886983 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: PARKVIEW TOWER STREET 2: 1150 1ST AVENUE, SUITE 450 CITY: KING OF PRUSSIA STATE: PA ZIP: 19406 BUSINESS PHONE: (610) 354-8396 MAIL ADDRESS: STREET 1: PARKVIEW TOWER STREET 2: 1150 1ST AVENUE, SUITE 450 CITY: KING OF PRUSSIA STATE: PA ZIP: 19406 SC 13D/A 1 sc13da309789003_04102015.htm AMENDMENT NO. 3 TO THE SCHEDULE 13D sc13da309789003_04102015.htm
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D
(Rule 13d-101)

INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO § 240.13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
§ 240.13d-2(a)

(Amendment No. 3)1

YuMe, Inc.
(Name of Issuer)

Common Stock, $0.001 par value per share
(Title of Class of Securities)

98872B104
(CUSIP Number)
 
STEVE WOLOSKY, ESQ.
ANDREW FREEDMAN, ESQ.
OLSHAN FROME WOLOSKY LLP
Park Avenue Tower
65 East 55th Street
New York, New York 10022
(212) 451-2300
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)

April 10, 2015
(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 ¨.

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.


_______________
1              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).
 
 
 
 
CUSIP NO. 98872B104
 
1
NAME OF REPORTING PERSON
 
AVI CAPITAL YANKEE, LP
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
  (a) o
  (b) o
3
SEC USE ONLY
 
4
SOURCE OF FUNDS
 
WC
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
 
¨
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
DELAWARE
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
 
3,003,560
8
SHARED VOTING POWER
 
- 0 -
9
SOLE DISPOSITIVE POWER
 
3,003,560
10
SHARED DISPOSITIVE POWER
 
- 0 -
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
3,003,560
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
 
o
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
9.0%
14
TYPE OF REPORTING PERSON
 
PN

 
2
 
CUSIP NO. 98872B104
 
 
1
NAME OF REPORTING PERSON
 
AVI CAPITAL PARTNERS, LP
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
  (a) o
  (b) o
3
SEC USE ONLY
 
4
SOURCE OF FUNDS
 
WC
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
 
¨
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
DELAWARE
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
 
72,433
8
SHARED VOTING POWER
 
- 0 -
9
SOLE DISPOSITIVE POWER
 
72,433
10
SHARED DISPOSITIVE POWER
 
- 0 -
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
72,433
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
 
o
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
Less than 1%
14
TYPE OF REPORTING PERSON
 
PN

 
3
 
CUSIP NO. 98872B104
 
1
NAME OF REPORTING PERSON
 
AVI PARTNERS, LLC
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
  (a) o
  (b) o
3
SEC USE ONLY
 
4
SOURCE OF FUNDS
 
AF
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
 
¨
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
DELAWARE
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
 
3,075,993
8
SHARED VOTING POWER
 
- 0 -
9
SOLE DISPOSITIVE POWER
 
3,075,993
10
SHARED DISPOSITIVE POWER
 
- 0 -
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
3,075,993
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
 
o
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
9.2%
14
TYPE OF REPORTING PERSON
 
OO

 
4
 
CUSIP NO. 98872B104
 
1
NAME OF REPORTING PERSON
 
AVI MANAGEMENT, LLC
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
  (a) o
  (b) o
3
SEC USE ONLY
 
4
SOURCE OF FUNDS
 
AF
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
 
¨
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
DELAWARE
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
 
3,075,993
8
SHARED VOTING POWER
 
- 0 -
9
SOLE DISPOSITIVE POWER
 
3,075,993
10
SHARED DISPOSITIVE POWER
 
- 0 -
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
3,075,993
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
 
o
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
9.2%
14
TYPE OF REPORTING PERSON
 
OO

 
5
 
CUSIP NO. 98872B104
 
1
NAME OF REPORTING PERSON
 
JAMES A. DUNN, JR.
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
  (a) o
  (b) o
3
SEC USE ONLY
 
4
SOURCE OF FUNDS
 
AF
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
 
¨
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
USA
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
 
 - 0 -
8
SHARED VOTING POWER
 
3,075,993
9
SOLE DISPOSITIVE POWER
 
 - 0 -
10
SHARED DISPOSITIVE POWER
 
3,075,993
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
3,075,993
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
 
o
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
9.2%
14
TYPE OF REPORTING PERSON
 
IN

 
6
 
CUSIP NO. 98872B104
 
1
NAME OF REPORTING PERSON
 
DARREN C. WALLIS
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
  (a) o
  (b) o
3
SEC USE ONLY
 
4
SOURCE OF FUNDS
 
AF
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
 
¨
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
USA
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
 
       - 0 -
8
SHARED VOTING POWER
 
3,075,993
9
SOLE DISPOSITIVE POWER
 
       - 0 -
10
SHARED DISPOSITIVE POWER
 
3,075,993
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
3,075,993
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
 
o
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
9.2%
14
TYPE OF REPORTING PERSON
 
IN

 
7
 
CUSIP NO. 98872B104
 
1
NAME OF REPORTING PERSON
 
DEREK T. HARRAR
2
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
  (a) o
  (b) o
3
SEC USE ONLY
 
4
SOURCE OF FUNDS
 
 
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e)
 
¨
6
CITIZENSHIP OR PLACE OF ORGANIZATION
 
USA
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
7
SOLE VOTING POWER
 
 - 0 -
8
SHARED VOTING POWER
 
 - 0 -
9
SOLE DISPOSITIVE POWER
 
 - 0 -
10
SHARED DISPOSITIVE POWER
 
 - 0 -
11
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
 
 - 0 -
12
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
 
o
13
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
 
0%
14
TYPE OF REPORTING PERSON
 
IN

 
8
 
CUSIP NO. 98872B104
 
The following constitutes Amendment No. 3 to the Schedule 13D filed by the undersigned (“Amendment No. 3”).  This Amendment No. 3 amends the Schedule 13D as specifically set forth herein.
 
Item 2.
Identity and Background.
 
Item 2 is hereby amended to add the following:
 
In connection with the nomination withdrawal described in Item 4 below, Derek T. Harrar is no longer a member of the Section 13(d) group and shall cease to be a Reporting Person immediately after the filing of this Amendment No. 3.  The remaining Reporting Persons will continue filing as a group statements on Schedule 13D with respect to their beneficial ownership of securities of the Issuer to the extent required by applicable law. Each of the remaining Reporting Persons is party to the Joint Filing Agreement, as further described in Item 6 below.
 
Item 4.
Purpose of Transaction.
 
Item 4 is hereby amended to add the following:
 
Since delivering the Nomination Letter to the Issuer on March 6, 2015, the Reporting Persons have engaged in constructive discussions with the Issuer regarding the addition of a director candidate to the Issuer’s Board of Directors (the “Board”) as well as certain other matters concerning strategy and corporate governance at the Issuer. The Reporting Persons continue to engage in discussions with the Issuer and believe that the Issuer is evaluating in good faith director recommendations by the Reporting Persons.
 
In light of such discussions and the Reporting Persons’ expectation that one of their director candidates will be appointed to the Board in a timely manner, the Reporting Persons are withdrawing their nomination of James A. Dunn, Jr. and Derek T. Harrar for election to the Board at the 2015 Annual Meeting of Stockholders.
 
The Reporting Persons intend to review their investment in the Issuer on a continuing basis and may engage in future discussions with management and the Board concerning, among other things, the business, operations, Board composition, and future plans of the Issuer.
 
Item 5.
Interest in Securities of the Issuer.
 
Items 5(a)-(c) are hereby amended and restated to read as follows:
 
The aggregate percentage of Shares reported owned by each person named herein is based upon 33,360,528 Shares outstanding, as of March 27, 2015, which is the total number of Shares outstanding as reported in the Issuer’s Definitive Proxy Statement on Form DEF 14A filed with the Securities and Exchange Commission on April 9, 2015.
 
A.
AVI Yankee
 
 
(a)
As of the close of business on April 9, 2015, AVI Yankee beneficially owned 3,003,560 Shares.
 
Percentage: Approximately 9.0%
 
 
9
 
 
 
(b)
1. Sole power to vote or direct vote: 3,003,560
 
2. Shared power to vote or direct vote: 0
 
3. Sole power to dispose or direct the disposition: 3,003,560
 
4. Shared power to dispose or direct the disposition: 0

 
(c)
AVI Yankee has not entered into any transactions in the Shares since the filing of Amendment No. 2 to the Schedule 13D.
 
B.
AVI LP
 
 
(a)
As of the close of business on April 9, 2015, AVI LP beneficially owned 72,433 Shares.
 
Percentage: Less than 1%
 
 
(b)
1. Sole power to vote or direct vote: 72,433
 
2. Shared power to vote or direct vote: 0
 
3. Sole power to dispose or direct the disposition: 72,433
 
4. Shared power to dispose or direct the disposition: 0

 
(c)
AVI LP has not entered into any transactions in the Shares since the filing of Amendment No. 2 to the Schedule 13D.
 
C.
AVI Partners
 
 
(a)
AVI Partners, as the general partner of each of AVI Yankee and AVI LP, may be deemed to beneficially own the 3,075,993 Shares owned in the aggregate by AVI Yankee and AVI LP.
 
Percentage: Approximately 9.2%
 
 
(b)
1. Sole power to vote or direct vote: 3,075,993
 
2. Shared power to vote or direct vote: 0
 
3. Sole power to dispose or direct the disposition: 3,075,993
 
4. Shared power to dispose or direct the disposition: 0

 
(c)
AVI Partners has not entered into any transactions in the Shares since the filing of Amendment No. 2 to the Schedule 13D.
 
D.           AVI Management
 
 
(a)
AVI Management, as the investment manager of each of AVI Yankee and AVI LP, may be deemed to beneficially own the 3,075,993 Shares owned in the aggregate by AVI Yankee and AVI LP.
 
Percentage: Approximately 9.2%
 
 
(b)
1. Sole power to vote or direct vote: 3,075,993
 
2. Shared power to vote or direct vote: 0
 
3. Sole power to dispose or direct the disposition: 3,075,993
 
4. Shared power to dispose or direct the disposition: 0
 
 
10
 
 
 
(c)
AVI Management has not entered into any transactions in the Shares since the filing of Amendment No. 2 to the Schedule 13D.
 
E.
Messrs. Dunn and Wallis
 
 
(a)
Each of Messrs. Dunn and Wallis, as a managing partner of AVI Partners and a managing member of AVI Management, may be deemed to beneficially own the 3,075,993 Shares owned in the aggregate by AVI Yankee and AVI LP.
 
Percentage: Approximately 9.2%
 
 
(b)
1. Sole power to vote or direct vote: 0
 
2. Shared power to vote or direct vote: 3,075,993
 
3. Sole power to dispose or direct the disposition: 0
 
4. Shared power to dispose or direct the disposition: 3,075,993

 
(c)
None of Messrs. Dunn or Wallis has entered into any transactions in the Shares since the filing of Amendment No. 2 to the Schedule 13D.
 
F.           Mr. Harrar
 
 
(a)
As of the close of business on April 9, 2015, Mr. Harrar did not own any Shares.
 
Percentage: 0%
 
 
(b)
1. Sole power to vote or direct vote: 0
 
2. Shared power to vote or direct vote: 0
 
3. Sole power to dispose or direct the disposition: 0
 
4. Shared power to dispose or direct the disposition: 0

 
(c)
Mr. Harrar has not entered into any transactions in the Shares since the filing of Amendment No. 2 to the Schedule 13D.
 
Each Reporting Person, as a member of a “group” with the other Reporting Persons for the purposes of Section 13(d)(3) of the Securities Exchange Act of 1934, as amended, may be deemed the beneficial owner of the Shares directly owned by the other Reporting Persons.  Each Reporting Person disclaims beneficial ownership of such Shares except to the extent of his or its pecuniary interest therein.
 
Item 6.
Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.
 
Item 6 is hereby amended to add the following:
 
On April 10, 2015, the Reporting Persons entered into a Joint Filing Agreement in which the Reporting Persons who will remain Reporting Persons subsequent to this Amendment No. 3 agreed to the joint filing on behalf of each of them of statements on Schedule 13D with respect to the securities of the Issuer to the extent required by applicable law.  A copy of this agreement is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
 
 
11
 
 
Item 7.
Material to be Filed as Exhibits.
 
Item 7 is hereby amended to add the following exhibit:
 
 
99.1
Joint Filing Agreement by and between AVI Capital Yankee, LP, AVI Capital Partners, LP, AVI Partners, LLC, AVI Management, LLC, James A . Dunn Jr., and Darren C. Wallis, dated April 10, 2015.
 
 
12
 
CUSIP NO. 98872B104
 
SIGNATURES
 
After reasonable inquiry and to the best of his knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.
 
Dated:  April 10, 2015
AVI CAPITAL YANKEE, LP
     
 
By:
AVI Partners, LLC,
its general partner
     
 
By:
 /s/ Darren C. Wallis
   
Name:
Darren C. Wallis
   
Title:
Managing Partner


 
AVI CAPITAL PARTNERS, LP
     
 
By:
AVI Partners, LLC,
its general partner
     
 
By:
 /s/ Darren C. Wallis
   
Name:
Darren C. Wallis
   
Title:
Managing Partner


 
AVI PARTNERS, LLC
     
 
By:
 /s/ Darren C. Wallis
   
Name:
Darren C. Wallis
   
Title:
Managing Partner


 
AVI MANAGEMENT, LLC
     
 
By:
 /s/ Darren C. Wallis
   
Name:
Darren C. Wallis
   
Title:
Managing Member


  /s/ Darren C. Wallis
 
DARREN C. WALLIS
Individually and as attorney-in-fact for James A. Dunn, Jr. and Derek T. Harrar.
 
 
13
 
EX-99.1 2 ex991to13da309789003_041015.htm JOINT FILING AGREEMENT ex991to13da309789003_041015.htm
Exhibit 99.1

Joint Filing Agreement

In accordance with Rule 13d-1(k)(1)(iii) under the Securities Exchange Act of 1934, as amended, the persons named below agree to the joint filing on behalf of each of them of Amendment No. 3 to the Schedule 13D (including amendments thereto) with respect to securities of YuMe, Inc. This Joint Filing Agreement shall be filed as an Exhibit to such Statement.
 
Dated:  April 10, 2015
AVI CAPITAL YANKEE, LP
     
 
By:
AVI Partners, LLC,
its general partner
     
 
By:
 /s/ Darren C. Wallis
   
Name:
Darren C. Wallis
   
Title:
Managing Partner


 
AVI CAPITAL PARTNERS, LP
     
 
By:
AVI Partners, LLC,
its general partner
     
 
By:
 /s/ Darren C. Wallis
   
Name:
Darren C. Wallis
   
Title:
Managing Partner


 
AVI PARTNERS, LLC
     
 
By:
 /s/ Darren C. Wallis
   
Name:
Darren C. Wallis
   
Title:
Managing Partner


 
AVI MANAGEMENT, LLC
     
 
By:
 /s/ Darren C. Wallis
   
Name:
Darren C. Wallis
   
Title:
Managing Member


  /s/ Darren C. Wallis
 
DARREN C. WALLIS
Individually and as attorney-in-fact for James A. Dunn, Jr.