- Amended Statement of Beneficial Ownership (SC 13D/A)
03 June 2011 - 7:22AM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D/A
Under the Securities Exchange Act of 1934
(Amendment No. 7)*
RAE Systems Inc.
Common Stock
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(Title of Class of Securities)
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75061P 10 2
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Robert I. Chen
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Robert T. Ishii
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c/o RAE Systems, Inc.
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Wilson Sonsini Goodrich & Rosati,
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3775 North First Street
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Professional Corporation
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San Jose, California 95134
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One Market Street, Spear Tower Suite 3300
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San Francisco, California 94105
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(408) 952-8200
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(650) 947-2000
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(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)
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May 31, 2011
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(Date of Event Which Requires Filing of this Statement)
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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.
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*
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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.
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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).
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1
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NAMES OF REPORTING PERSONS:
Robert I.
Chen
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2
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS):
(a)
¨
(b)
x
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3
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SEC USE ONLY:
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4
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SOURCE OF FUNDS (SEE INSTRUCTIONS):
OO
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5
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CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e):
¨
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6
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CITIZENSHIP OR PLACE OF ORGANIZATION:
United States of America
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NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
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7
SOLE VOTING POWER:
0
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8
SHARED VOTING POWER:
15,834,942
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9
SOLE DISPOSITIVE POWER:
270,833
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10
SHARED DISPOSITIVE POWER:
15,564,109
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11
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:
15,834,942*
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12
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CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS):
x
(See Item 6)
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13
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):
26.6%
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14
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TYPE OF REPORTING PERSON (SEE INSTRUCTIONS):
OO
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*
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Includes options to purchase 270,833 shares of common stock of issuer exercisable within 60 days.
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2
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1
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NAMES OF REPORTING PERSONS:
Lien Q.
Chen
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2
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS):
(a)
¨
(b)
x
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3
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SEC USE ONLY:
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4
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SOURCE OF FUNDS (SEE INSTRUCTIONS):
OO
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5
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CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e):
¨
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6
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CITIZENSHIP OR PLACE OF ORGANIZATION:
United States of America
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NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
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7
SOLE VOTING POWER:
0
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8
SHARED VOTING POWER:
15,564,109
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9
SOLE DISPOSITIVE POWER:
0
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10
SHARED DISPOSITIVE POWER:
15,564,109
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11
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:
15,564,109
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12
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CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS):
x
(See Item 6)
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13
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):
26.2%
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14
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TYPE OF REPORTING PERSON (SEE INSTRUCTIONS):
OO
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3
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1
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NAMES OF REPORTING PERSONS:
Chen
Revocable Trust DTD 5/8/2001
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2
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS):
(a)
¨
(b)
x
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3
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SEC USE ONLY:
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4
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SOURCE OF FUNDS (SEE INSTRUCTIONS):
OO
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5
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CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e):
¨
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6
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CITIZENSHIP OR PLACE OF ORGANIZATION:
California
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NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
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7
SOLE VOTING POWER:
0
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8
SHARED VOTING POWER:
15,382,849
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9
SOLE DISPOSITIVE POWER:
0
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10
SHARED DISPOSITIVE POWER:
15,382,849
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11
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:
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12
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CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS):
x
(See Item 6)
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13
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):
25.8%
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14
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TYPE OF REPORTING PERSON (SEE INSTRUCTIONS):
OO
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4
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1
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NAMES OF REPORTING PERSONS:
Chen Family
Foundation
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2
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS):
(a)
¨
(b)
x
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3
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SEC USE ONLY:
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4
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SOURCE OF FUNDS (SEE INSTRUCTIONS):
OO
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5
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CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e):
¨
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6
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CITIZENSHIP OR PLACE OF ORGANIZATION:
California
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NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
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7
SOLE VOTING POWER:
0
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8
SHARED VOTING POWER:
181,260
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9
SOLE DISPOSITIVE POWER:
0
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10
SHARED DISPOSITIVE POWER:
181,260
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11
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:
181,260
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12
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CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS):
x
(See Item 6)
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13
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):
0.3%
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14
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TYPE OF REPORTING PERSON (SEE INSTRUCTIONS):
OO
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5
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1
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NAMES OF REPORTING PERSONS:
Peter
Hsi
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2
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS):
(a)
¨
(b)
x
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3
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SEC USE ONLY:
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4
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SOURCE OF FUNDS (SEE INSTRUCTIONS):
OO
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5
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CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e):
¨
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6
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CITIZENSHIP OR PLACE OF ORGANIZATION:
United States of America
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NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
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7
SOLE VOTING POWER:
0
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8
SHARED VOTING POWER:
2,757,998
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9
SOLE DISPOSITIVE POWER:
66,666
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10
SHARED DISPOSITIVE POWER:
2,691,332
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11
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:
2,757,998*
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12
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CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS):
x
(See Item 6)
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13
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):
4.6%
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14
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TYPE OF REPORTING PERSON (SEE INSTRUCTIONS):
OO
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*
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Includes options to purchase 66,666 shares of common stock of issuer exercisable within 60 days.
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6
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1
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NAMES OF REPORTING PERSONS:
Sandy
Hsi
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2
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS):
(a)
¨
(b)
x
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3
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SEC USE ONLY:
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4
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SOURCE OF FUNDS (SEE INSTRUCTIONS):
OO
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5
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CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e):
¨
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6
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CITIZENSHIP OR PLACE OF ORGANIZATION:
United States of America
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NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
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7
SOLE VOTING POWER:
0
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8
SHARED VOTING POWER:
2,691,332
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9
SOLE DISPOSITIVE POWER:
0
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10
SHARED DISPOSITIVE POWER:
2,691,332
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11
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:
2,691,332
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12
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CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS):
x
(See Item 6)
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13
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):
4.5%
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14
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TYPE OF REPORTING PERSON (SEE INSTRUCTIONS):
OO
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7
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1
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NAMES OF REPORTING PERSONS:
Hsi Family
Trust
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2
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS):
(a)
¨
(b)
x
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3
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SEC USE ONLY:
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4
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SOURCE OF FUNDS (SEE INSTRUCTIONS):
OO
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5
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CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) OR 2(e):
¨
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6
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CITIZENSHIP OR PLACE OF ORGANIZATION:
California
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NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
|
|
7
SOLE VOTING POWER:
0
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8
SHARED VOTING POWER:
2,691,332
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9
SOLE DISPOSITIVE POWER:
0
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10
SHARED DISPOSITIVE POWER:
2,691,332
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11
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON:
2,691,332
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12
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CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS):
x
(See Item 6)
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13
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11):
4.5%
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14
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TYPE OF REPORTING PERSON (SEE INSTRUCTIONS):
OO
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8
This Amendment No. 7 (this “
Amendment No. 7
”) to the statement on
Schedule 13D, filed with the Securities and Exchange Commission on behalf of the Reporting Persons relating to the Common Stock of RAE Systems, Inc., a Delaware corporation (“
RAE
”), on September 29, 2010, as amended and
restated (the “
Schedule 13D
”) is being filed pursuant to Rule 13d-2 of the Securities Exchange Act, as amended, on behalf of the Reporting Persons to amend certain information set forth below to the items indicated. Unless
otherwise stated herein, all capitalized terms used in this Amendment No. 7 shall have the same meaning as those set forth in the Schedule 13D.
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Item 4.
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Purpose of Transaction.
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Item 4 of the Schedule 13D is hereby amended and supplemented by adding the following:
On May 31, 2011, the Chen Revocable Trust DTD 5/8/2001 (the
“RLC Trust”)
and the Hsi Family Trust (the
“Hsi Family Trust”)
each amended its Rollover Agreement with Purchaser, an affiliate of Vector Capital IV, L.P., Vector Entrepreneurs Fund III, L.P., and Vector Capital III, L.P., by entering into an Amendment No. 3
(
“Amendment No. 3 to the RLC Rollover Agreement”)
and an Amendment No. 1 (
“Amendment No. 1 to the Hsi Rollover Agreement”),
respectively, to such Rollover Agreements, in each case to reflect that each
person’s ownership interest in Purchaser is the same as it would have been if the approximately 1.98 million shares were not contributed to Purchaser for no consideration.
References to, and descriptions of Amendment No. 3 to the RLC Rollover Agreement and Amendment No. 1 to the Hsi Rollover Agreement
throughout this statement are qualified in their entirety by reference to Amendment No. 2 to the RLC Rollover Agreement and Amendment No. 1 to the Hsi Rollover Agreement included as
Exhibit 7
and
Exhibit 8
hereto and which are
incorporated herein by reference.
9
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Item 7.
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Materials to be Filed as Exhibits.
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Item 7 of the Schedule 13D is hereby amended to add the following exhibit:
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7
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Amendment No. 3, dated as of May 31, 2011, to Rollover Agreement, dated as of January 18, 2011, as amended, by and between RAE and RLC Trust
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8
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Amendment No. 1, dated as of May 31, 2011, to Rollover Agreement, dated as of January 18, 2011, as amended, by and between RAE and Hsi Family Trust
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10
SIGNATURE
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.
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Dated: June 2, 2011
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CHEN REVOCABLE TRUST DTD 5/8/2001
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CHEN FAMILY FOUNDATION
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By:
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/
S
/ R
OBERT
I.
C
HEN
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By:
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/
S
/ R
OBERT
I.
C
HEN
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Robert I. Chen
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Robert I. Chen
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Trustee
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By:
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/
S
/ L
IEN
Q.
C
HEN
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By:
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/
S
/ L
IEN
Q.
C
HEN
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Lien Q. Chen
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Lien Q. Chen
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Trustee
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ROBERT I. CHEN
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LIEN Q. CHEN
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By:
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/
S
/ R
OBERT
I.
C
HEN
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By:
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/
S
/ L
IEN
Q.
C
HEN
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HSI FAMILY TRUST
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PETER HSI
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By:
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/
S
/ P
ETER
H
SI
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By:
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/
S
/ P
ETER
H
SI
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Peter Hsi
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Trustee
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SANDY HSI
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By:
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/
S
/ S
ANDY
H
SI
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By:
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/
S
/ S
ANDY
H
SI
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Sandy Hsi
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Trustee
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11
EXHIBIT INDEX
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Exhibit
No.
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Title
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7
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Amendment No. 3, dated as of May 31, 2011, to Rollover Agreement, dated as of January 18, 2011, as amended, by and between RAE and RLC Trust
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8
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Amendment No. 1, dated as of May 31, 2011, to Rollover Agreement, dated as of January 18, 2011, as amended, by and between RAE and Hsi Family Trust
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