-----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, DxwzS8nK4X541NI7vERp7wAUJlUgCBCz+vGevbr9HLAgGM2EByuRUlToEfOa0Ds4 zscSPUo1A3AxWCLm4p3tcQ== 0000914248-99-000097.txt : 19991214 0000914248-99-000097.hdr.sgml : 19991214 ACCESSION NUMBER: 0000914248-99-000097 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19991213 GROUP MEMBERS: AUSTIN W. MARXE GROUP MEMBERS: AWM INVESTMENT COMPANY, INC. GROUP MEMBERS: DAVID M. GREENHOUSE GROUP MEMBERS: MG ADVISERS L.L.C GROUP MEMBERS: MGP ADVISERS LIMITED PARTNERSHIP GROUP MEMBERS: SPECIAL SITUATIONS CAYMAN FUND, L.P. GROUP MEMBERS: SPECIAL SITUATIONS FUND III L P GROUP MEMBERS: SPECIAL SITUATIONS FUND III, L.P. GROUP MEMBERS: SPECIAL SITUATIONS PRIVATE EQUITY FUND, L.P. GROUP MEMBERS: SPECIAL SITUATIONS TECHNOLOGY FUND, L.P. GROUP MEMBERS: SST ADVISERS LLC SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: PRECISION OPTICS CORPORATION INC CENTRAL INDEX KEY: 0000867840 STANDARD INDUSTRIAL CLASSIFICATION: ELECTROMEDICAL & ELECTROTHERAPEUTIC APPARATUS [3845] IRS NUMBER: 042795294 STATE OF INCORPORATION: MA FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: SEC FILE NUMBER: 005-41468 FILM NUMBER: 99773380 BUSINESS ADDRESS: STREET 1: 22 EAST BROADWAY CITY: GARDNER STATE: MA ZIP: 01440-3338 BUSINESS PHONE: 9786301800 FORMER COMPANY: FORMER CONFORMED NAME: PRECISION OPTICS CORP INC DATE OF NAME CHANGE: 19600201 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__)* Precision Optics Corporation, Inc. ______________________________________________________ (Name of Issuer) Common Stock, $ .01 Par Value ______________________________________________________ (Title of Class of Securities) 740294103 ____________________________________ (CUSIP Number) Austin W. Marxe, 153 East 53rd Street, New York, NY 10022 (212) 207-6500 ______________________________________________________ (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) November 19, 1999 _________________________________________________________ (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.740294103 Page 2 of 10 Pages - ---------------------------------------------------------------- (1) NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Special Situations Fund III, L.P. F13-3737427 MGP Advisers Limited Partnership * F13-3263120 - ---------------------------------------------------------------- (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 749,400 (includes 375,000 warrants) - ---------------------------------------------------------------- (12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* - ---------------------------------------------------------------- (13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 9.3 - ---------------------------------------------------------------- (14) TYPE OF REPORTING PERSON* IV/IA - ---------------------------------------------------------------- * AWM Investment Company, Inc., a Delaware corporation is the General Partner of this entity. SCHEDULE 13D CUSIP No.740294103 Page 3 of 10 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 1,054,000 (includes 582,500 warrants) - ---------------------------------------------------------------- (12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* - ---------------------------------------------------------------- (13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 12.7 - ---------------------------------------------------------------- (14) TYPE OF REPORTING PERSON* IV/IA - ---------------------------------------------------------------- SCHEDULE 13D CUSIP No.740294103 Page 4 of 10 Pages - ---------------------------------------------------------------- (1) NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Special Situations Cayman Fund, L.P. 98-0132442 AWM Investment Company, Inc. 11-3086452 - ---------------------------------------------------------------- (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 Cayman Islands - ---------------------------------------------------------------- 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 242,500 (includes 125,000 warrants) - ---------------------------------------------------------------- (12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* - ---------------------------------------------------------------- (13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 3.1 - ---------------------------------------------------------------- (14) TYPE OF REPORTING PERSON* IV/IA - ---------------------------------------------------------------- SCHEDULE 13D CUSIP No.740294103 Page 5 of 10 Pages - ---------------------------------------------------------------- (1) NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Special Situations Technology Fund, L.P. 13-3937585 SST Advisers LLC 13-3937583 - ---------------------------------------------------------------- (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 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 416,000 (includes 188,500 warrants) - ----------------------------------------------------------------- (12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* - ---------------------------------------------------------------- (13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.3 - ---------------------------------------------------------------- (14) TYPE OF REPORTING PERSON* IN - ---------------------------------------------------------------- SCHEDULE 13D CUSIP No.740294103 Page 6 of 10 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 2,461,900 SHARES ------------------------------------------------- BENEFICIALLY (8) SHARED VOTING POWER None OWNED BY ------------------------------------------------- EACH (9) SOLE DISPOSITIVE POWER 2,461,900 REPORTING ------------------------------------------------- PERSON WITH (10) SHARED DISPOSITIVE POWER None - ---------------------------------------------------------------- (11) AGGREGATE AMOUNT BENEFICALLY OWNED BY EACH REPORTING PERSON 2,461,900 (includes 896,000 warrants) - ----------------------------------------------------------------- (12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES* - ---------------------------------------------------------------- (13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 28.7 - ---------------------------------------------------------------- (14) TYPE OF REPORTING PERSON* IN - ---------------------------------------------------------------- Page 7 of 10 Pages Item 1. Security and Issuer. This Schedule relates to the common stock and warrrants of Precision Optics Corporation ("Issuer"). The Issuer's principal executive offices are located at 22 East Broadway, Gardner, MA 01440-3338. Item 2. Identity and Background. This Schedule is filed on behalf of (i) Special Situations Fund III, L.P., a Delaware limited partnership ("SSF III"); (ii) Special Situations Private Equity Fund, L.P., a Delaware limited partnership ("SSPE"); (iii) Special Situations Cayman Fund, L.P., a Cayman Islands limited partnership ("CAY"); (iv) Special Situation Technology Fund, L.P., a Delaware limited partnership ("SST");(v) MGP Advisers Limited Partnership , a Delaware limited partnership ("MGP"); (vi) MG Advisers. L.L.C., a New York limited liability company ("MG"); (vii) AWM Investment Company, Inc., a Delaware corporation ("AWM"); (viii) SST Advisers L.L.C., a Delaware limited liability company ("SSA"); (ix) Austin W. Marxe and (x) 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, other than the Cayman Fund, is 153 East 53rd Street, 51st floor, New York, NY 10022. The principal office and business address of the Cayman Fund is c/o CIBC Bank and Trust Company (Cayman) Limited, CIBC Bank Building, P. O. Box 694, Grand Cayman, Cayman Islands, British West Indies. The principal business of SSF III, the Private Equity Fund, the Cayman Fund, and SST (individually, a "Fund" and, collectively, the "Funds") is to invest in equity and equity related securities. The principal business of MGP is to act as the general partner of and the investment adviser to SSF III. The principal business of MG is to act as general partner of and the investment adviser to the Private Equity Fund. The principal business of AWM is to act as the general partner of MGP and as the general partner of and the investment adviser to the Cayman Fund. The principal business of SSA is to act as the general partner of SST. MGP, MG, AWM, and SST are referred to herein, individually, as an "Adviser" and, collectively, as the "Advisers." 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 the Advisers. Page 8 of 10 Pages Neither any Fund, any Adviser, 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. Each Fund utilized available cash assets to purchase the Securities. 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. Each Fund acquired the Securities in the ordinary course of business and is holding such Securities for the benefit of its third party investors. Item 5. Interest in Securities of the Issuer. See pps. 2-5 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. During the past (60) days, the following Funds effected the following transactions: SSF III - During November 1999, the Fund sold in open market transactions an aggregate of 330,100 shares at an average price of $3.31 per share. SSPE - During October 1999, the Fund sold in open market transactions an aggregate of 25,000 shares at an average price of $1.49 per share. During November 1999, the Fund sold in open market transactions an aggregate of 371,000 shares at an average price of $2.91 per share. During November 1999, the Fund exercised warrants for an aggregate of 142,500 shares at an exercise price of $4.00 per share. CAY - During November 1999, the Fund sold in open market transactions 7,500 shares at a price of $4.35 per share. Page 9 of 10 Pages SST - During November 1999, the Fund sold in open market transactions an aggregate of 134,000 shares at an average price of $2.92 per share. During November 1999, the Fund exercised warrants for an aggregate of 47,500 shares at an exercise price of $4.00 per share. During the month of July 1999, SSF III sold 700 shares at an average price of $1.044 per share. Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer. See Item 2 and Item 4 of this Schedule. Based on such Items. Messrs. Marxe and Greenhouse maintain sole voting power and sole dispositive power with respect to the Securities. 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. December 9, 1999 /s/ Austin W. Marxe ----------------------------- Special Situations Fund III, L.P. by: Austin W. Marxe, Managing Director /s/ Austin W. Marxe _________________________________ Special Situaitons Private Equity Fund, L.P. by: Austin W. Marxe, Managing Director /s/ Austin W. Marxe _____________________________ Special Situations Cayman Fund,L.P. by: Austin Marxe, Managing Director Page 10 of 10 Pages /s/ Austin W. Marxe _____________________________ Special Situations Technology Fund,L.P. by: Austin Marxe, Managing Director /s/ Austin W. Marxe _____________________________ MGP Advisers Limited Partnership by: Austin Marxe, President and CEO /s/ Austin W. Marxe _____________________________ MG Advisers, L.L.C. by: Austin Marxe, President and CEO /s/ Austin W. Marxe _____________________________ AWM Investment Company, Inc. by: Austin Marxe, President and CEO /s/ Austin W. Marxe _____________________________ SST Advisers, L.L.C. by: Austin Marxe, President and CEO /s/ Austin W. Marxe _____________________________ Austin W. Marxe /s/ David Greenhouse _____________________________ David Greenhouse -----END PRIVACY-ENHANCED MESSAGE-----