-----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, U39M3Ou6fWLpCadP0B0vg5VO306FgXGGDw4K6czfan7wPfKcMt12SzoLmLwVAkWa tOR5/xTRXN8gqxFZdDoD/g== 0000914248-98-000006.txt : 19980109 0000914248-98-000006.hdr.sgml : 19980109 ACCESSION NUMBER: 0000914248-98-000006 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19980108 SROS: NASD GROUP MEMBERS: AUSTIN MARXE, DAVID GREENHOUSE GROUP MEMBERS: SPECIAL PRIV. EQ, MG ADVISERS LLC GROUP MEMBERS: SPECIAL SITUATIONS FUND III L P SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: PLANET POLYMER TECHNOLOGIES INC CENTRAL INDEX KEY: 0000896861 STANDARD INDUSTRIAL CLASSIFICATION: PLASTICS, MATERIALS, SYNTH RESINS & NONVULCAN ELASTOMERS [2821] IRS NUMBER: 330502606 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: SEC FILE NUMBER: 005-49423 FILM NUMBER: 98503095 BUSINESS ADDRESS: STREET 1: 9985 BUSINESS PARK WAY STE A CITY: SAN DIEGO STATE: CA ZIP: 92131 BUSINESS PHONE: 6195495130 MAIL ADDRESS: STREET 1: 9985 BUSINESSPARK AVE STREET 2: STE A CITY: SAN DIEGO STATE: CA ZIP: 92131 FORMER COMPANY: FORMER CONFORMED NAME: PLANET POLYMER TECHNOLOGY INC DATE OF NAME CHANGE: 19950511 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: SPECIAL SITUATIONS FUND III L P CENTRAL INDEX KEY: 0000914248 STANDARD INDUSTRIAL CLASSIFICATION: [] IRS NUMBER: 133737427 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 153 E 53 ST 51ST FL CITY: NEW YORK STATE: NY ZIP: 10022 BUSINESS PHONE: 2128325300 MAIL ADDRESS: STREET 1: 153 EAST 53RD STREET 51ST FLOOR CITY: NEW YORK STATE: NY ZIP: 10022 SC 13D/A 1 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. __1___)* Planet Polymer Technologies, Inc. ______________________________________________________ (Name of Issuer) Common Stock, $ No Par Value ______________________________________________________ (Title of Class of Securities) 727044109 ____________________________________ (CUSIP Number) Austin W. Marxe, 153 East 53rd Street, New York, NY 10022 (212) 832-5300 ______________________________________________________ (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) December 17, 1997 _________________________________________________________ (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 which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d- I(b)(3) or (4), check the following box ___. Note: Six copies of this statement, including all exhibits, should be filed with the Commission. See Rule 13d-1(a) 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 the disclosures provided in a prior cover page. The information required in the remainder of the 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). SCHEDULE 13D CUSIP No. 727044109 Page 2 of 6 Pages - ---------------------------------------------------------------- (1) NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Special Situations Private Equity Fund, L.P. F13-3916551 MG Advisers, L.L.C. F13-3916549 - ---------------------------------------------------------------- (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) | | (b) |X| - ---------------------------------------------------------------- (3) SEC USE ONLY - ---------------------------------------------------------------- (4) SOURCE OF FUNDS* 00 ________________________________________________________________ (5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO 2(d) OR 2(e) ____ _________________________________________________________________ (6) CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - ---------------------------------------------------------------- NUMBER OF (7) SOLE VOTING POWER See Marxe/Greenhouse SHARES ------------------------------------------------- BENEFICIALLY (8) SHARED VOTING POWER None OWNED BY ------------------------------------------------- EACH (9) SOLE DISPOSITIVE POWER See Marxe/Greenhouse REPORTING ------------------------------------------------- PERSON WITH (10) SHARED DISPOSITIVE POWER None - ---------------------------------------------------------------- (11) AGGREGATE AMOUNT BENEFICALLY OWNED BY EACH REPORTING PERSON 882,337 - ---------------------------------------------------------------- (12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* - ---------------------------------------------------------------- (13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 16.7 - ---------------------------------------------------------------- (14) TYPE OF REPORTING PERSON* IV/IA - ---------------------------------------------------------------- SCHEDULE 13D CUSIP No.727044109 Page 3 of 6 Pages - ---------------------------------------------------------------- (1) NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Austin W. Marxe David M. Greenhouse - ---------------------------------------------------------------- (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) | | (b) |X| - ---------------------------------------------------------------- (3) SEC USE ONLY - ---------------------------------------------------------------- (4) SOURCE OF FUNDS* 00 ________________________________________________________________ (5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO 2(d) OR 2(e) ____ _________________________________________________________________ (6) CITIZENSHIP OR PLACE OF ORGANIZATION United States of America - ---------------------------------------------------------------- NUMBER OF (7) SOLE VOTING POWER 882,337 SHARES ------------------------------------------------- BENEFICIALLY (8) SHARED VOTING POWER None OWNED BY ------------------------------------------------- EACH (9) SOLE DISPOSITIVE POWER 882,337 REPORTING ------------------------------------------------- PERSON WITH (10) SHARED DISPOSITIVE POWER None - ---------------------------------------------------------------- (11) AGGREGATE AMOUNT BENEFICALLY OWNED BY EACH REPORTING PERSON 882,337 - ----------------------------------------------------------------- (12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* - ---------------------------------------------------------------- (13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 16.7 - ---------------------------------------------------------------- (14) TYPE OF REPORTING PERSON* IN - ---------------------------------------------------------------- Page 4 of 6 Pages Item 1. Security and Issuer. This Schedule relates to the Common Stock no par value of Planet Polymer Technologies, Inc.. The Issuer's principal executive offices are located at 9985 Businesspark Avenue, Suite A, San Diego, CA 92131. Item 2. Identity and Background. This Schedule is filed on behalf of (i) Special Situations Private Equity Fund, L.P., a Delaware limited partnership (the "Private Equity Fund"); (ii) MG Advisers. L.L.C., a New York limited liability company ("MG"); (ii) Austin W. Marxe and (iv) David Greenhouse. Each of the foregoing is hereinafter referred to, individually, as a "Reporting Person" and, collectively, as the "Reporting Persons." The principal office and business address of the Reporting Persons is 153 East 53rd Street, 51st floor, New York, NY 10022. The principal business of the Private Equity Fund is to invest in equity and equity related securities. The principal business of MG is to act as general partner of and the investment adviser to the Private Equity Fund. The principal occupation of Austin W. Marxe and David Greenhouse, both of whom are United States citizens, is to serve as officers, directors and members or principal shareholders of MG and other Advisers. Neither the Fund, MG, Austin W. Marxe nor David Greenhouse, during the last 5 years, has been convicted in any criminal proceeding or was or is subject to a judgement, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, Federal or state securities laws or finding any violations with respect to such laws. Item 3. Source and Amount of Funds or Other Consideration. The Fund received a stock dividend of 7,337 shares as a result of securities owned that were purchased by utilizing available cash assets. Item 4. Purpose of the Transaction. Each of the Reporting Persons has acquired and is holding the Securities solely for investment purposes and not with the purpose or the effect of changing or influencing control of the Issuer. The Fund acquired the Securities in the ordinary course of business and is holding such Securities for the benefit of its third party investors. The Fund may acquire additional shares of Common Stock as dividends on any unconverted shares of Series A Convertible Preferred Stock. Page 5 of 6 Pages Item 5. Interest in Securities of the Issuer. See pps. 2-3 of this Schedule, setting forth the aggregate number and percentage of the Securities beneficially owned by each Reporting Person, the number of shares as to which there is sole or shared power to vote, or to direct the vote, and sole or shared power to dispose or to direct the disposition. On December 17, 1997 the fund received a stock dividend of 7,337 shares from its beneficial ownership of Series A Convertible Preferred Stock. No other trades occurred within the last 60 days. Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer. See Item 2 and Item 4 of this Schedule. The partnership agreement for the Fund provides for MG (and, accordingly, Marxe and Greenhouse) to exercise sole voting and dispositive power with respect to the shares of Common Stock and also provides for an annual allocaiton to MG of a portion of the profits generated by transactions engaged in by the Fund. There are no written agreements among the Reporting Persons with respect to the matters set forth in Item 4 of this Schedule. Item 7. Material to be Filed as Exhibits. None 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. January 7, 1998 /s/ Austin W. Marxe _________________________________ Special Situaitons Private Equity Fund, L.P. by: Austin W. Marxe, Managing Director /s/ Austin W. Marxe _____________________________ MG Advisers, L.L.C. by: Austin Marxe, President and CEO Page 6 of 6 Pages /s/ Austin W. Marxe _____________________________ Austin W. Marxe /s/ David Greenhouse _____________________________ David Greenhouse -----END PRIVACY-ENHANCED MESSAGE-----