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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
REPLIDYNE, INC.
(Name of Issuer)
COMMON STOCK, PAR VALUE $0.001 PER SHARE
(Title of Class of Securities)
76028W107
(CUSIP Number)
Amendment to the Schedule 13G Previously Filed for the
DECEMBER 31, 2006 Event Date
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:
[_] Rule 13d-1(b)
[_] Rule 13d-1(c)
[X] Rule 13d-1(d)
*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 reminder 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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CUSIP NO. 76028W107 Schedule 13G Page 2 of 20
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1. Name of Reporting Person Perseus-Soros BioPharmaceutical Fund, LP
S.S. or I.R.S. Identifica-
tion No. of Above Person
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2. Check the Appropriate Box (a) [_]
if a Member of a Group (b) [X]
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3. S.E.C. Use Only
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4. Citizenship or Place of Organization Delaware
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Number of Shares (5) Sole Voting Power 1,487,808
Beneficially (6) Shared Voting Power 0
Owned by Each (7) Sole Dispositive Power 1,487,808
Reporting Person (8) Shared Dispositive Power 0
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9. Aggregate Amount Beneficially Owned by Each Reporting Person
1,487,808
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10. Check if the Aggregate Amount in Row (9) Excludes Certain
Shares
[_]
--------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row 9 5.5%
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12. Type of Reporting Person PN
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CUSIP NO. 76028W107 Schedule 13G Page 3 of 20
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1. Name of Reporting Person Perseus-Soros Partners, LLC
S.S. or I.R.S. Identifica-
tion No. of Above Person
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2. Check the Appropriate Box (a) [_]
if a Member of a Group (b) [X]
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3. S.E.C. Use Only
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4. Citizenship or Place of Organization Delaware
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Number of Shares (5) Sole Voting Power 1,487,808
Beneficially (6) Shared Voting Power 0
Owned by Each (7) Sole Dispositive Power 1,487,808
Reporting Person (8) Shared Dispositive Power 0
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9. Aggregate Amount Beneficially Owned by Each Reporting Person
1,487,808
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10. Check if the Aggregate Amount in Row (9) Excludes Certain
Shares
[_]
--------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row 9 5.5%
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12. Type of Reporting Person OO
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CUSIP NO. 76028W107 Schedule 13G Page 4 of 20
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1. Name of Reporting Person Perseus BioTech Fund Partners, LLC
S.S. or I.R.S. Identifica-
tion No. of Above Person
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2. Check the Appropriate Box (a) [_]
if a Member of a Group (b) [X]
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3. S.E.C. Use Only
--------------------------------------------------------------------------------
4. Citizenship or Place of Organization Delaware
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Number of Shares (5) Sole Voting Power 0
Beneficially (6) Shared Voting Power 1,487,808
Owned by Each (7) Sole Dispositive Power 0
Reporting Person (8) Shared Dispositive Power 1,487,808
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9. Aggregate Amount Beneficially Owned by Each Reporting Person
1,487,808
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10. Check if the Aggregate Amount in Row (9) Excludes Certain
Shares
[_]
--------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row 9 5.5%
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12. Type of Reporting Person OO
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CUSIP NO. 76028W107 Schedule 13G Page 5 of 20
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1. Name of Reporting Person SFM Participation, L.P.
S.S. or I.R.S. Identifica-
tion No. of Above Person
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2. Check the Appropriate Box (a) [_]
if a Member of a Group (b) [X]
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3. S.E.C. Use Only
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4. Citizenship or Place of Organization Delaware
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Number of Shares (5) Sole Voting Power 0
Beneficially (6) Shared Voting Power 1,487,808
Owned by Each (7) Sole Dispositive Power 0
Reporting Person (8) Shared Dispositive Power 1,487,808
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9. Aggregate Amount Beneficially Owned by Each Reporting Person
1,487,808
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10. Check if the Aggregate Amount in Row (9) Excludes Certain
Shares
[_]
--------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row 9 5.5%
--------------------------------------------------------------------------------
12. Type of Reporting Person PN
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CUSIP NO. 76028W107 Schedule 13G Page 6 of 20
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1. Name of Reporting Person SFM AH LLC
S.S. or I.R.S. Identifica-
tion No. of Above Person
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2. Check the Appropriate Box (a) [_]
if a Member of a Group (b) [X]
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3. S.E.C. Use Only
--------------------------------------------------------------------------------
4. Citizenship or Place of Organization Delaware
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Number of Shares (5) Sole Voting Power 0
Beneficially (6) Shared Voting Power 1,487,808
Owned by Each (7) Sole Dispositive Power 0
Reporting Person (8) Shared Dispositive Power 1,487,808
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9. Aggregate Amount Beneficially Owned by Each Reporting Person
1,487,808
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10. Check if the Aggregate Amount in Row (9) Excludes Certain
Shares
[_]
--------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row 9 5.5%
--------------------------------------------------------------------------------
12. Type of Reporting Person OO
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CUSIP NO. 76028W107 Schedule 13G Page 7 of 20
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1. Name of Reporting Person Perseuspur, LLC
S.S. or I.R.S. Identifica-
tion No. of Above Person
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2. Check the Appropriate Box (a) [_]
if a Member of a Group (b) [X]
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3. S.E.C. Use Only
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4. Citizenship or Place of Organization Delaware
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Number of Shares (5) Sole Voting Power 0
Beneficially (6) Shared Voting Power 1,487,808
Owned by Each (7) Sole Dispositive Power 0
Reporting Person (8) Shared Dispositive Power 1,487,808
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9. Aggregate Amount Beneficially Owned by Each Reporting Person
1,487,808
--------------------------------------------------------------------------------
10. Check if the Aggregate Amount in Row (9) Excludes Certain
Shares
[_]
--------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row 9 5.5%
--------------------------------------------------------------------------------
12. Type of Reporting Person OO
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CUSIP NO. 76028W107 Schedule 13G Page 8 of 20
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1. Name of Reporting Person Frank H. Pearl
S.S. or I.R.S. Identifica- (in the capacity described herein)
tion No. of Above Person
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2. Check the Appropriate Box (a) [_]
if a Member of a Group (b) [X]
--------------------------------------------------------------------------------
3. S.E.C. Use Only
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4. Citizenship or Place of Organization United States
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Number of Shares (5) Sole Voting Power 0
Beneficially (6) Shared Voting Power 1,504,121*
Owned by Each (7) Sole Dispositive Power 0
Reporting Person (8) Shared Dispositive Power 1,504,121*
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9. Aggregate Amount Beneficially Owned by Each Reporting Person
1,504,121*
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10. Check if the Aggregate Amount in Row (9) Excludes Certain
Shares
[_]
--------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row 9 5.6%*
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12. Type of Reporting Person IN
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* This amount includes 16,313 shares of common stock issuable upon the
exercise of stock options issued to Christopher D. Earl, a director of the
Company and a senior advisor to Perseus-Soros BioPharmaceutical Fund, LP. The
stock options are held for the benefit of an entity controlled by affiliates of
the Perseus-Soros BioPharmaceutical Fund, LP.
CUSIP NO. 76028W107 Schedule 13G Page 9 of 20
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1. Name of Reporting Person George Soros
S.S. or I.R.S. Identifica- (in the capacity described herein)
tion No. of Above Person
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2. Check the Appropriate Box (a) [_]
if a Member of a Group (b) [X]
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3. S.E.C. Use Only
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4. Citizenship or Place of Organization United States
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Number of Shares (5) Sole Voting Power 0
Beneficially (6) Shared Voting Power 1,504,121*
Owned by Each (7) Sole Dispositive Power 0
Reporting Person (8) Shared Dispositive Power 1,504,121*
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9. Aggregate Amount Beneficially Owned by Each Reporting Person
1,504,121*
--------------------------------------------------------------------------------
10. Check if the Aggregate Amount in Row (9) Excludes Certain
Shares
[_]
--------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row 9 5.6%*
--------------------------------------------------------------------------------
12. Type of Reporting Person IA
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* This amount includes 16,313 shares of common stock issuable upon the
exercise of stock options issued to Christopher D. Earl, a director of the
Company and a senior advisor to Perseus-Soros BioPharmaceutical Fund, LP. The
stock options are held for the benefit of an entity controlled by affiliates of
the Perseus-Soros BioPharmaceutical Fund, LP.
CUSIP NO. 76028W107 Schedule 13G Page 10 of 20
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1. Name of Reporting Person Soros Fund Management LLC
S.S. or I.R.S. Identifica-
tion No. of Above Person
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2. Check the Appropriate Box (a) [_]
if a Member of a Group (b) [X]
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3. S.E.C. Use Only
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4. Citizenship or Place of Organization Delaware
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Number of Shares (5) Sole Voting Power 0
Beneficially (6) Shared Voting Power 1,504,121*
Owned by Each (7) Sole Dispositive Power 0
Reporting Person (8) Shared Dispositive Power 1,504,121*
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9. Aggregate Amount Beneficially Owned by Each Reporting Person
1,504,121*
--------------------------------------------------------------------------------
10. Check if the Aggregate Amount in Row (9) Excludes Certain
Shares
[_]
--------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row 9 5.6%*
--------------------------------------------------------------------------------
12. Type of Reporting Person OO; IA
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* This amount includes 16,313 shares of common stock issuable upon the
exercise of stock options issued to Christopher D. Earl, a director of the
Company and a senior advisor to Perseus-Soros BioPharmaceutical Fund, LP. The
stock options are held for the benefit of an entity controlled by affiliates of
the Perseus-Soros BioPharmaceutical Fund, LP.
CUSIP NO. 76028W107 Schedule 13G Page 11 of 20
EXPLANATORY NOTE: This Amendment No. 1 is being filed to correct the
number of shares of Common Stock (as defined below) each of the Reporting
Persons may be deemed to beneficially own, as originally reported in the
Reporting Persons initial 13G filing, filed with the Securities and Exchange
Commission on February 14, 2007 (the "Initial 13G"). The Initial 13G
inadvertently omitted 119,426 shares of Common Stock owned by Perseus-Soros
BioPharmaceutical Fund, LP. Each of the other Reporting Persons may also be
deemed to beneficially own such shares.
Item 1. (a) NAME OF ISSUER
Replidyne, Inc. (the "Company").
(b) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES
1450 Infinite Drive
Louisville, CO 80027
Item 2. (a) NAMES OF PERSONS FILING
This Statement is being filed on behalf of each of
the following persons (collectively, the "Reporting Persons")
(i) Perseus-Soros BioPharmaceutical Fund, LP, a Delaware
limited partnership ("Perseus-Soros");
(ii) Perseus-Soros Partners, LLC, a Delaware limited
liability company ("PSP GP" and general partner of
Perseus-Soros);
(iii) Perseus BioTech Fund Partners, LLC, a Delaware
limited liability company ("PBFP Partners" and
managing member of PSP GP);
(iv) SFM Participation, L.P., a Delaware limited
partnership ("SFM Participation" and managing member
of PSP GP);
(v) SFM AH LLC, a Delaware limited liability company
("SFM AH" and general partner of SFM Participation);
(vi) Perseuspur, LLC, a Delaware limited liability
company ("Perseuspur" and managing member of PBFP
Partners);
(vii) Mr. Frank H. Pearl ("Mr. Pearl" and sole member of
Perseuspur);
(viii) Mr. George Soros ("Mr. Soros" and Chairman of SFM
LLC); and
(ix) Soros Fund Management LLC, a Delaware limited
liability company ("SFM LLC" and the sole managing
member of SFM AH).
CUSIP NO. 76028W107 Schedule 13G Page 12 of 20
(b) ADDRESS OF PRINCIPAL BUSINESS OFFICE
The address of the principal business offices of (i)
Perseus-Soros and (ii) PSP, GP is 888 Seventh Avenue, 30th
Floor, New York, NY 10106.
The address of the principal business offices of (i) PBFP
Partners, (ii) Perseuspur and (iii) Mr. Pearl is 2099
Pennsylvania Ave., N.W., Suite 900, Washington, D.C. 20006.
The address of the principal business offices of (i) SFM
Participation, (ii) SFM AH, (iii) SFM LLC and (iv) Mr. Soros
is 888 Seventh Avenue, 33rd Floor, New York, NY 10106.
(c) CITIZENSHIP
(i) Perseus-Soros - a Delaware limited partnership
(ii) PSP GP - a Delaware limited liability company
(iii) PBFP Partners - a Delaware limited liability company
(iv) SFM Participation - a Delaware limited partnership
(v) SFM AH - a Delaware limited liability company
(vi) Perseuspur - Delaware limited liability company
(vii) Mr. Pearl - United States
(viii) Mr. Soros - United States
(ix) SFM LLC - a Delaware limited liability company
(d) TITLE OF CLASS OF SECURITIES
Common Stock, par value $0.001 per share (the "Common Stock"
or "Shares")
(e) CUSIP NUMBER
76028W107
Information contained herein concerning SFM Participation,
SFM AH, SFM LLC and Mr. Soros has been provided by SFM LLC.
Perseus-Soros, PSP GP, PBFP Partners, Perseuspur and Mr.
Pearl assume no responsibility for such information.
Information contained herein concerning PBFP Partners,
Perseuspur and Mr. Pearl has been provided by each such
Reporting Person. Perseus-Soros, PSP GP, SFM Participation,
SFM AH, SFM LLC and Mr. Soros assume no responsibility for
such information.
CUSIP NO. 76028W107 Schedule 13G Page 13 of 20
Item 3. This statement is not being filed pursuant to either Rule 13d-1(b) or
13d-2(b) or (c).
Item 4. OWNERSHIP.
(a) AMOUNT BENEFICIALLY OWNED:
Each of the Reporting Persons other than Mr. Soros, Mr. Pearl
and SFM LLC may be deemed to beneficially own 1,487,808
Shares.
Each of Mr. Soros, Mr. Pearl and SFM LLC may be deemed to
beneficially own an aggregate of 1,504,121 Shares, including
16,313 shares of common stock issuable upon the exercise of
stock options. The stock options are held for the benefit of
an entity controlled by affiliates of the Perseus-Soros
BioPharmaceutical Fund, LP.
(b) PERCENTAGE OWNED:
Based on calculations made in accordance with Rule 13d-3(d),
and there being 27,010,506 Shares outstanding as of April 26,
2007, each of the Reporting Persons, other than Mr. Soros,
Mr. Pearl and SFM LLC, may be deemed to beneficially own
approximately 5.5% of the outstanding Common Stock. Based on
the same calculations, Mr. Soros, Mr. Pearl and SFM LLC may
be deemed to beneficially own 5.6% of the outstanding common
stock.
(c) NUMBER OF SHARES AS TO WHICH SUCH PERSON HAS:
(i) Each of Perseus-Soros and PSP GP may be deemed to
have sole power to direct the voting and disposition of the
1,487,808 Shares beneficially owned by Perseus-Soros.
(ii) By virtue of the relationships between and among the
Reporting Persons as described in Item 2, each of:
(a) PBFP Partners, Perseuspur, SFM Participation and
SFM AH may be deemed to share the power to direct
the voting and disposition of 1,487,808 Shares
beneficially owned by Perseus-Soros and (b) each of
Mr. Soros, Mr. Pearl and SFM LLC may be deemed to
share the power to direct the voting and disposition
of the 1,487,808 Shares beneficially owned by
Perseus-Soros, and the 16,313 Shares issuable upon
the exercise of stock options. The stock options are
held for the benefit of an entity controlled by
affiliates of the Perseus-Soros BioPharmaceutical
Fund, LP.
Item 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS
Not applicable.
CUSIP NO. 76028W107 Schedule 13G Page 14 of 20
Item 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON
The partners of Perseus-Soros have the right to participate in the
receipt of dividends from, or proceeds from the sale of, the
securities held for the account of Perseus-Soros in accordance with
their ownership interests in Perseus-Soros.
Item 7. IDENTIFICATION AND CLASSIFICATION OF SUBSIDIARY WHICH ACQUIRED THE
SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY
Not applicable.
Item 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP
Not applicable.
Item 9. NOTICE OF DISSOLUTION OF GROUP
Not applicable.
Item 10. CERTIFICATION
Not applicable.
[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]
CUSIP NO. 76028W107 Schedule 13G Page 15 of 20
SIGNATURES
After reasonable inquiry and to the best of our knowledge and belief,
the undersigned certify that the information set forth in this statement is
true, complete and correct.
Dated as of May 11, 2007
PERSEUS-SOROS BIOPHARMACEUTICAL FUND, LP
By: Perseus-Soros Partners, LLC
General Partner
By: SFM Participation, L.P.
Managing Member
By: SFM AH LLC
General Partner
By: Soros Fund Management LLC
Managing Member
By: /s/ Jodye M. Anzalotta
--------------------------------------
Name: Jodye M. Anzalotta
Title: Assistant General Counsel
CUSIP NO. 76028W107 Schedule 13G Page 16 of 20
PERSEUS-SOROS PARTNERS, LLC
By: SFM Participation, L.P.
Managing Member
By: SFM AH LLC
General Partner
By: Soros Fund Management LLC
Managing Member
By: /s/ Jodye M. Anzalotta
--------------------------------------
Name: Jodye M. Anzalotta
Title: Assistant General Counsel
PERSEUS BIOTECH FUND PARTNERS, LLC
By: Perseuspur, LLC
Member
By: /s/ Kenneth M. Socha
---------------------------------------
Name: Kenneth M. Socha
Title: Senior Managing Director
CUSIP NO. 76028W107 Schedule 13G Page 17 of 20
SFM PARTICIPATION, L.P.
By: SFM AH LLC
General Partner
By: Soros Fund Management LLC
Managing Member
By: /s/ Jodye M. Anzalotta
--------------------------------------
Name: Jodye M. Anzalotta
Title: Assistant General Counsel
SFM AH LLC
By: Soros Fund Management LLC
Managing Member
By: /s/ Jodye M. Anzalotta
--------------------------------------
Name: Jodye M. Anzalotta
Title: Assistant General Counsel
PERSEUSPUR, LLC
By: /s/ Kenneth M. Socha
---------------------------------------
Name: Kenneth M. Socha
Title: Senior Managing Director
CUSIP NO. 76028W107 Schedule 13G Page 18 of 20
MR. FRANK H. PEARL
By: /s/ Kenneth M. Socha
---------------------------------------
Name: Kenneth M. Socha
Title: Attorney-in-Fact
MR. GEORGE SOROS
By: /s/ Jodye M. Anzalotta
----------------------------------------
Name: Jodye M. Anzalotta
Title: Attorney-in-Fact
SOROS FUND MANAGEMENT LLC
By: /s/ Jodye M. Anzalotta
--------------------------------------
Name: Jodye M. Anzalotta
Title: Assistant General Counsel
CUSIP NO. 76028W107 Schedule 13G Page 19 of 20
EXHIBIT INDEX
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Exhibit 1. Joint Filing Agreement as required by Rule 13d-1(k)(1) under
the Securities Exchange Act of 1934, as amended (previously
filed).
Exhibit 2. Power of Attorney, dated June 16, 2005 appointing each of
Armando T. Belly, Jodye Anzalotta, Maryann Canfield, Jay
Schoenfarber and Robert Soros as Attorney-In-Fact for George
Soros (previously filed).
Exhibit 3. Power of Attorney, dated May 9, 2007, appointing Kenneth M.
Socha and Rona Kennedy as Attorney-in-Fact for Frank H.
Pearl.
CUSIP NO. 76028W107 Schedule 13G Page 20 of 20
EXHIBIT 3
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POWER OF ATTORNEY
KNOW ALL BY THESE PRESENTS, that I, FRANK H. PEARL, hereby make, constitute and
appoint each of Kenneth M. Socha and Rona Kennedy, each of them acting singly,
as my agent and attorney-in-fact for the purpose of executing in my name, (a)
in my personal capacity or (b) in my capacity as Chairman of, member of or in
other capacities with Perseus, L.L.C. ("PERSEUS") and each of its affiliates or
entities advised by me or Perseus, all documents, certificates, instruments,
statements, filings and agreements ("DOCUMENTS") to be filed with or delivered
to any foreign or domestic governmental or regulatory body or required or
requested by any other person or entity pursuant to any legal or regulatory
requirement relating to the acquisition, ownership, management or disposition
of securities, futures contracts, or other investments, and any other documents
relating or ancillary thereto, including, but not limited to, all documents
relating to filings with the Commodities Futures Trading Commission and
National Futures Association, the United States Securities and Exchange
Commission (the "SEC") pursuant to the Commodities Exchange Act and the
Securities Act of 1933 or the Securities Exchange Act of 1934 (the "Act") and
the rules and regulations promulgated thereunder, including all documents
relating to the beneficial ownership of securities required to be filed with
the SEC pursuant to Section 13(d) or Section 16(a) of the Act and information
statements on Form 13F required to be filed with the SEC pursuant to Section
13(f) of the Act.
All past acts of either attorney-in-fact in furtherance of the foregoing are
hereby ratified and confirmed.
This power of attorney shall be valid from the date hereof until revoked by me.
The Power of Attorney dated as of April 9, 2003 is hereby revoked by me
effective as of the date hereof.
IN WITNESS WHEREOF, I have executed this instrument as of the 9th day of May,
2007.
/s/ Frank H. Pearl
---------------------------
FRANK H. PEARL