-----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, EogxDkWnYjNNUaNAz4Q0OQU9TBMGi7EqL71lyWBk6eFpkBNpI37kqQnkoRUpV4dW H/wMn4q/HgfIEgzed9sKhQ== 0000891020-05-000064.txt : 20050318 0000891020-05-000064.hdr.sgml : 20050318 20050318163423 ACCESSION NUMBER: 0000891020-05-000064 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20050318 DATE AS OF CHANGE: 20050318 GROUP MEMBERS: JEFFERY G. EDWARDS GROUP MEMBERS: JGE CAPITAL MANAGEMENT, LLC SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: NETWORK EQUIPMENT TECHNOLOGIES INC CENTRAL INDEX KEY: 0000752431 STANDARD INDUSTRIAL CLASSIFICATION: COMPUTER COMMUNICATIONS EQUIPMENT [3576] IRS NUMBER: 942904044 STATE OF INCORPORATION: DE FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-39132 FILM NUMBER: 05692026 BUSINESS ADDRESS: STREET 1: 6900 PASEO PADRE PARKWAY CITY: FREMONT STATE: CA ZIP: 94555-3660 BUSINESS PHONE: 5107137300 MAIL ADDRESS: STREET 1: 6900 PASEO PADRE PARKWAY CITY: FREMONT STATE: CA ZIP: 94555-3660 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: EAST PEAK PARTNERS L P CENTRAL INDEX KEY: 0001010777 IRS NUMBER: 000000000 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 101 CALIFORNIA ST STREET 2: STE 4050 CITY: SAN FRANCISCO STATE: CA ZIP: 94111 BUSINESS PHONE: 4156753200 SC 13D/A 1 v07013sc13dza.txt SCHEDULE 13D/A Schedule 13D UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13D (Rule 13d-101) INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULE 13-d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(a) (AMENDMENT NO. 2)* NETWORK EQUIPMENT TECHNOLOGIES, INC. - -------------------------------------------------------------------------------- (Name of Issuer) COMMON STOCK, $0.01 PAR VALUE - -------------------------------------------------------------------------------- (Title of Class of Securities) 641 208 10 3 - -------------------------------------------------------------------------------- (CUSIP Number) East Peak Partners, L.P. 101 California Street, Suite 4050 San Francisco, CA 94111 (415) 675-3200 with a copy to: Phillip Gordon Perkins Coie LLP 131 S. Dearborn Street, Suite 1700 Chicago, IL 60603-5559 (312) 324-8400 - -------------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) March 8, 2005 - -------------------------------------------------------------------------------- (Date of Event which Requires Filing of this Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of Sections 240.13d-1(e), 24013d-1(f) or 24013d-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 Section 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 11 Schedule 13D SCHEDULE 13D - -------------------------------------------------------------------------------- NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF 1 ABOVE PERSONS (Entities Only) EAST PEAK PARTNERS, L.P. 94-3238955 - -------------------------------------------------------------------------------- CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) 2 (a) [ ] (b) X - -------------------------------------------------------------------------------- SEC USE ONLY 3 - -------------------------------------------------------------------------------- SOURCE OF FUNDS (See Instructions) 4 WC - -------------------------------------------------------------------------------- CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) 5 [ ] - -------------------------------------------------------------------------------- CITIZENSHIP OR PLACE OF ORGANIZATION 6 CALIFORNIA - -------------------------------------------------------------------------------- SOLE VOTING POWER 7 2,700,000 NUMBER OF ------------------------------------------------------------- SHARES SHARED VOTING POWER BENEFICIALLY 8 0 OWNED BY ------------------------------------------------------------- EACH SOLE DISPOSITIVE POWER REPORTING 9 2,700,000 PERSON ------------------------------------------------------------- WITH SHARED DISPOSITIVE POWER 10 0 - -------------------------------------------------------------------------------- AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 11 2,700,000 - -------------------------------------------------------------------------------- CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) 12 [ ] - -------------------------------------------------------------------------------- PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 13 10.81% - -------------------------------------------------------------------------------- TYPE OF REPORTING PERSON (See Instructions) 14 PN - -------------------------------------------------------------------------------- Page 2 of 11 Schedule 13D - -------------------------------------------------------------------------------- NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF 1 ABOVE PERSONS (Entities Only) JGE CAPITAL MANAGEMENT, LLC 94-3236500 - -------------------------------------------------------------------------------- CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) 2 (a) [ ] (b) X - -------------------------------------------------------------------------------- SEC USE ONLY 3 - -------------------------------------------------------------------------------- SOURCE OF FUNDS (See Instructions) 4 WC, AF, OO - -------------------------------------------------------------------------------- CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) 5 [ ] - -------------------------------------------------------------------------------- CITIZENSHIP OR PLACE OF ORGANIZATION 6 CALIFORNIA - -------------------------------------------------------------------------------- SOLE VOTING POWER 7 2,719,500 (see Item 5) NUMBER OF ------------------------------------------------------------- SHARES SHARED VOTING POWER BENEFICIALLY 8 0 OWNED BY ------------------------------------------------------------- EACH SOLE DISPOSITIVE POWER REPORTING 9 2,719,500 (see Item 5) PERSON ------------------------------------------------------------- WITH SHARED DISPOSITIVE POWER 10 0 - -------------------------------------------------------------------------------- AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 11 2,719,500 - -------------------------------------------------------------------------------- CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) 12 [ ] - -------------------------------------------------------------------------------- PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 13 10.89% - -------------------------------------------------------------------------------- TYPE OF REPORTING PERSON (See Instructions) 14 PN - -------------------------------------------------------------------------------- Page 3 of 11 Schedule 13D CUSIP No. 640 208 10 3 - -------------------------------------------------------------------------------- NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF 1 ABOVE PERSONS (Entities Only) JEFFREY G. EDWARDS - -------------------------------------------------------------------------------- CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) 2 (a) [ ] (b) X - -------------------------------------------------------------------------------- SEC USE ONLY 3 - -------------------------------------------------------------------------------- SOURCE OF FUNDS (See Instructions) 4 PF, OO - -------------------------------------------------------------------------------- CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) 5 [ ] - -------------------------------------------------------------------------------- CITIZENSHIP OR PLACE OF ORGANIZATION 6 United States - -------------------------------------------------------------------------------- SOLE VOTING POWER 7 2,784,220 (see Item 5) NUMBER OF ------------------------------------------------------------- SHARES SHARED VOTING POWER BENEFICIALLY 8 0 OWNED BY ------------------------------------------------------------- EACH SOLE DISPOSITIVE POWER REPORTING 9 2,784,220 (see Item 5) PERSON ------------------------------------------------------------- WITH SHARED DISPOSITIVE POWER 10 0 - -------------------------------------------------------------------------------- AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 11 2,784,220 - -------------------------------------------------------------------------------- CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions) 12 [ ] - -------------------------------------------------------------------------------- PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 13 11.15% - -------------------------------------------------------------------------------- TYPE OF REPORTING PERSON (See Instructions) 14 IN - -------------------------------------------------------------------------------- - ---------- Page 4 of 11 Schedule 13D This Amendment No. 2 amends, supplements and restates Amendment No. 1 to Schedule 13D filed with the Securities and Exchange Commission on August 20, 2004 and the original Schedule 13D filed with the Securities Exchange Commission on July 27, 2004. Page 5 of 11 Schedule 13D Item 3. Source and Amount of Funds or Other Consideration. The source and amount of the funds used or to be used by the Reporting Persons to purchase shares of Common Stock (the "Shares") are as follows:
Name Source of Funds Amount of Funds ---- --------------- --------------- East Peak WC $ 19,739,948 JGE Capital WC, AF, OO 142,914 Mr. Edwards PF, OO 444,631
Item 4. Purpose of Transaction. The Reporting Persons have acquired the Shares reported herein for investment purposes. Consistent with such purposes, the Reporting Persons have had, and may have in the future, discussions with management of the Issuer and may make suggestions concerning the Issuer's operations, prospects, business and financial strategies, assets and liabilities, business and financing alternatives and such other matters as the Reporting Persons may deem relevant to their investments in the Shares. The Reporting Persons expect that they will, from time to time, review their investment positions in the Issuer and may, depending on market and other conditions, increase or decrease their investment positions. Whether the Reporting Persons purchase any additional Shares or dispose of any Shares, and the amount and timing of any such transactions, will depend upon the Reporting Persons' individual continuing assessments of pertinent factors, including the availability of Shares for purchase at particular price levels, the Issuer's and the Reporting Persons' businesses and prospects, other business investment opportunities available to the Reporting Persons, economic conditions, stock market conditions, money market conditions, the attitudes and actions of the Board of directors and management of the Issuer, the availability and nature of opportunities to dispose of the Reporting Page 6 of 11 Schedule 13D Persons' interests in the Issuer, the existence of any legal restrictions on the purchase or sale of any Shares and other plans and requirements of the Reporting Persons. Depending upon their individual assessments of these factors from time to time, the Reporting Persons may change their present intentions as stated above, including determining to acquire additional Shares (by means of open market or privately negotiated purchases) or to dispose of some or all of the Shares held by them or under their control. Except as stated above, none of the Reporting Persons has any plans or proposals of the types referred to in clauses (a) through (j) of Item 4 of Schedule 13D, as promulgated by the Securities and Exchange Commission. Item 5. Interest in Securities of the Issuer. (a) Percentage interest calculations for each of the Reporting Persons are based on the Issuer having 24,960,842 shares of Common Stock outstanding as reported in the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on August 4, 2004. (b) East Peak The aggregate number of Shares that East Peak owns beneficially pursuant to Rule 13d-3 of the Act, is 2,700,000 Shares, which constitutes approximately 10.81% of the outstanding shares of Common Stock. JGE Capital Because of its position as the sole general partner of East Peak, JGE Capital may, pursuant to Rule 13d-3 of the Act, be deemed to be beneficial owner of 2,719,500 Shares, which constitutes approximately 10.89% of the outstanding shares of Common Stock. Mr. Edwards Because of his position as the control person of JGE Capital, Mr. Edwards may, pursuant to Rule 13d-3 of the Act, be deemed to be beneficial owner of 2,784,220 Shares, which constitutes approximately 11.15% of the outstanding shares of Common Stock. (c) During the sixty days prior to the date of this filing, East Peak has purchased in open market transactions on the National Association of Securities Dealers Automated Quotation System (Nasdaq) shares of Common Stock as set forth in Schedule I attached hereto. (d) Each of the Reporting Persons affirms that no person other than such Reporting Person has the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of the shares owned by such Reporting Person. (e) Not applicable. Page 7 of 11 Schedule 13D Item 7. Material to be Filed as Exhibits. Exhibit Document Description - ------- -------------------- A Agreement Pursuant to Rule 13d-1(k)(1)(iii) Page 8 of 11 Schedule 13D After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. DATED: March 18, 2005 EAST PEAK PARTNERS, L.P. By: JGE CAPITAL MANAGEMENT, LLC Its: General Partner By: /s/ Jeffrey G. Edwards ---------------------- Jeffrey G. Edwards Its: Principal JGE CAPITAL MANAGEMENT, LLC By: /s/ Jeffrey G. Edwards ---------------------- Jeffrey G. Edwards Its: Principal /s/ Jeffrey G. Edwards ---------------------- Jeffrey G. Edwards Page 9 of 11 SCHEDULE 13D SCHEDULE I TO SCHEDULE 13D FOR EAST PEAK PARTNERS, L.P. (sixty days prior)
PRICE WHERE/HOW REPORTING DATE OF NUMBER OF PER TRANSACTION PERSON TRANSACTION TYPE SHARES(#) SHARE($) EFFECTED - --------- ----------- ---- ---------- -------- ------------ East Peak 02/24/05 Buy 2,100 $7.2295 Open Market/Broker East Peak 02/25/05 Buy 3,800 $7.2982 Open Market/Broker East Peak 03/02/05 Buy 9,000 $7.2842 Open Market/Broker East Peak 03/03/05 Buy 35,100 $7.2567 Open Market/Broker East Peak 03/04/05 Buy 86,000 $7.4368 Open Market/Broker East Peak 03/07/05 Buy 39,100 $7.6060 Open Market/Broker East Peak 03/08/05 Buy 38,300 $7.5298 Open Market/Broker East Peak 03/09/05 Buy 32,500 $7.4672 Open Market/Broker East Peak 03/10/05 Buy 29,500 $7.5064 Open Market/Broker East Peak 03/11/05 Buy 15,000 $7.4739 Open Market/Broker East Peak 03/14/05 Buy 59,600 $7.6008 Open Market/Broker
Page 10 of 11 Schedule 13D EXHIBIT A Pursuant to Rule 13d-1(k) (1) (iii) of Regulation 13D-G of the General Rules and Regulations of the Securities and Exchange Commission under the Securities Exchange Act of 1934, as amended, the undersigned agree that the statement to which this Exhibit is attached is filed on behalf of each of them in the capacities set forth herein below. DATED: March 18, 2005 EAST PEAK PARTNERS, L.P. By: JGE CAPITAL MANAGEMENT, LLC Its: General Partner By: /s/ Jeffrey G. Edwards ---------------------- Jeffrey G. Edwards Its: Principal JGE CAPITAL MANAGEMENT, LLC By: /s/ Jeffrey G. Edwards ---------------------- Jeffrey G. Edwards Its: Principal /s/ Jeffrey G. Edwards ---------------------- Jeffrey G. Edwards Page 11 of 11 -----END PRIVACY-ENHANCED MESSAGE-----