HarbourVest a venture capital firm filed a SEC for SC 13G/A on 2/14/00 stating a substantial ownership in BNYN.
Exerpt follows:
a) Amount Beneficially Owned: HarbourVest has beneficial ownership of (i) 2,631,580 shares of Common Stock, (ii) Warrants exercisable for 65,790 shares of Series B Convertible Preferred Stock, par value $.01 per share, of Banyan, which shares of Series B Convertible Preferred Stock are convertible into 657,900 shares of Common Stock and
(iii) Warrants exercisable for 65,790 shares of Series C Convertible Preferred Stock, par value $.01 per share, of Banyan, which shares of Series C Convertible Preferred Stock are convertible into 657,900 shres of Common Stock. The Warrants are non-voting. HarbourVest is the managing member of HVP V-Direct Associates L.L.C., which is the general partner of HarbourVest Partners V-Direct Fund L.P. ("Fund V"). Fund V is the record and ultimate owner of the foregoing securities. HarbourVest, in its capacity as managing member of the general partner of Fund V, has the sole power to vote and dispose of the securities held by Fund V. Messrs. Kane and Zug are Managing Members of HarbourVest. As such, they share the voting control of HarbourVest. While neither of them owns of record any shares of Banyan Systems Corporation, as the result of their positions, Kane and Zug may be deemed to be beneficial owners of and to have the power to exercise or to direct the exercise of voting and/or dispositive power with respect to the shares reported herein. Messrs. Kane and Zug disclaim beneficial ownership over any of the reported securities which they may be deemed to beneficially own.
(b) Percent of Class: 15.4% of the Common Stock. |
