UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. ____)*
KVH Industries, Inc.
______________________________________________________
(Name of Issuer)
Common Stock, $0.01 Par Value
______________________________________________________
(Title of Class of Securities)
482738101
____________________________________
(CUSIP Number)
December 31, 2001
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(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to
which this Schedule is filed:
--x- Rule 13d-1(b)
---- Rule 13d-1(c)
---- 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 the
disclosures provided in a prior cover page.
The information required in 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).
CUSIP No.482738101 13G Page 2 of 14
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(1) NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Special Situations Fund III, L.P. F13-3737427
MGP Advisers Limited Partnership F13-3263120
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See
Instructions)
(a) | |
(b) |X|
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(3) SEC USE ONLY
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(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware/New York
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NUMBER OF (5) SOLE VOTING POWER See Marxe/Greenhouse
SHARES
BENEFICIALLY ------------------------------------------------
OWNED BY (6) SHARED VOTING POWER None
EACH REPORTING -------------------------------------------------
PERSON WITH: (7) SOLE DISPOSITIVE POWER See Marxe/Greenhouse
------------------------------------------------
(8) SHARED DISPOSITIVE POWER None
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(9) AGGREGATE AMOUNT BENEFICALLY OWNED BY EACH REPORTING PERSON
663,463
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(10) CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES (See Instructions)
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(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
6.1
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(12) TYPE OF REPORTING PERSON (See Instructions)
IV/IA
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CUSIP No.482738101 13G Page 3 of 14
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(1) NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Special Situations Private Equity Fund, L.P. F13-3916551
MG Advisers, L.L.C. F13-3916549
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See
Instructions)
(a) | |
(b) |X|
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(3) SEC USE ONLY
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(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware/New York
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NUMBER OF (5) SOLE VOTING POWER See Marxe/Greenhouse
SHARES
BENEFICIALLY ------------------------------------------------
OWNED BY (6) SHARED VOTING POWER None
EACH REPORTING -------------------------------------------------
PERSON WITH: (7) SOLE DISPOSITIVE POWER See Marxe/Greenhouse
------------------------------------------------
(8) SHARED DISPOSITIVE POWER None
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(9) AGGREGATE AMOUNT BENEFICALLY OWNED BY EACH REPORTING PERSON
230,770
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(10) CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES (See Instructions)
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(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
2.1
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(12) TYPE OF REPORTING PERSON (See Instructions)
IV/IA
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CUSIP No. 482738101 13G Page 4 of 14
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(1) NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Special Situations Technology Fund, L.P. F13-3937585
SST Advisers, L.L.C. F13-3937583
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See
Instructions)
(a) | |
(b) |X|
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(3) SEC USE ONLY
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(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
----------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER See Marxe/Greenhouse
SHARES
BENEFICIALLY ------------------------------------------------
- OWNED BY (6) SHARED VOTING POWER None
EACH -------------------------------------------------
REPORTING (7) SOLE DISPOSITIVE POWER See Marxe/Greenhouse
PERSON WITH:
-------------------------------------------------
(8) SHARED DISPOSITIVE POWER None
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(9) AGGREGATE AMOUNT BENEFICALLY OWNED BY EACH REPORTING PERSON
119,484
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(10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES (See Instructions)
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(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
1.1
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(12) TYPE OF REPORTING PERSON*
IV/IA
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CUSIP No. 482738101 13G Page 5 of 14
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(1) NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Special Situations Cayman Fund, L.P. 98-0132442
AWM Investment Company, Inc. 11-3086452
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See
Instructions)
(a) | |
(b) |X|
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(3) SEC USE ONLY
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(4) CITIZENSHIP OR PLACE OF ORGANIZATION
Grand Cayman/Delaware
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NUMBER OF (5) SOLE VOTING POWER See Marxe/Greenhouse
SHARES
BENEFICIALLY ------------------------------------------------
- OWNED BY (6) SHARED VOTING POWER None
EACH -------------------------------------------------
REPORTING (7) SOLE DISPOSITIVE POWER See Marxe/Greenhouse
PERSON WITH:
-------------------------------------------------
(8) SHARED DISPOSITIVE POWER None
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(9) AGGREGATE AMOUNT BENEFICALLY OWNED BY EACH REPORTING PERSON
221,154
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(10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES (See Instructions)
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(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
2.0
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(12) TYPE OF REPORTING PERSON*
IV/IA
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CUSIP No. 482738101 13G Page 6 of 14
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(1) NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY).
Austin W. Marxe
David Greenhouse
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See
Instructions)
(a) | |
(b) |X|
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(3) SEC USE ONLY
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(4) CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
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NUMBER OF (5) SOLE VOTING POWER 1,234,870
SHARES -------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER None
OWNED BY
EACH -------------------------------------------------
REPORTING (7) SOLE DISPOSITIVE POWER 1,234,870
PERSON WITH: -------------------------------------------------
(8) SHARED DISPOSITIVE POWER None
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(9) AGGREGATE AMOUNT BENEFICALLY OWNED BY EACH REPORTING PERSON
1,234,870
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(10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES (See Instructions)
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(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
11.3
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(12) TYPE OF REPORTING PERSON*
IN
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Page 7 of 14 Pages
Item 1.
(a) Name of Issuer: KVH Industries, Inc.
(b) Address of Issuer's Principal Executive Offices:
110 Enterprise Center, Middletown, RI 02842
Item 2.
(a) Name of Person Filing: This statement is filed on behalf
of (i) Special Situations Fund III, L.P., a Delaware limited
partnership ("SSF"); (ii) Special Situations Private Equity
Fund, L.P., a Delaware limited partnership (the "Private Equity
Fund"); (iii) Special Situations Technology Fund, L.P. , a
Delaware Limited Partnership (the "Technology Fund"); (iv)
Special Situations Cayman Fund, L.P., a Cayman Islands limited
partnership ("CAY"); (v)MGP Advisers Limited Partnership, a
Delaware limited partnership,("MGP") (vi) MG Advisers L.L.C., a
New York limited liability company, ("MG"); (vii) SST Advisers,
L.L.C., a Delaware limited liability company ("SST"); (viii) AWM
Investment Company, Inc.; a Delaware Corporation, ("AWM"); (ix)
Austin W. Marxe and (x) David Greenhouse. Each of the foregoing
is hereinafter individually referred to as a "Reporting Person"
and collectively as the "Reporting Persons."
(b) Address of Principal Business Office or, if none,
Residence: The principal office and business address of the
Reporting Persons, other than CAY, is 153 East 53rd Street, New
York, New York 10022. The principal office and business address
of Cay is c/o CIBC Bank and Trust Company (Cayman) Limited, CIBC
Bank Building, P. O. Box 694, Grand Cayman, Cayman Islands, BWI
Page 8 of 14 Pages
(c) Citizenship: SSF, the Private Equity Fund and Technology
Fund are Delaware limited partnerships. CAY is a Cayman Island
limited partnership. MGP is a Delaware limited partnership. MG
is a New York limited liability company and SST Advisers L.L.C.
is a Delaware limited liability company. AWM Investment
Company, Inc., is a Delaware corporation. Austin W. Marxe and
David M. Greenhouse are United States citizens. The business of
SSF, the Private Equity Fund, the Technology Fund and CAY is to
acquire, purchase, invest in, sell, convey, transfer, exchange
and otherwise trade in principally equity and equity related
securities. The principal business of MGP is to act as general
partner of and investment adviser to SSF. The principal business
of MG is to act as general partner of and investment adviser to
the Private Equity Fund. The principal business of SST is to
act as general partner of and investment adviser to the
Technology Fund. The principal business of AWM is the act as
the general partner of and investment adviser to CAY. In
addition, AWM is the general partner of MGP. The principal
occupation of Austin W. Marxe and David Greenhouse is to serve
as officers, directors and members or principal shareholders of
the Advisers.
2(d) Title of Class of Securities: See cover sheets.
2(e) CUSIP Number: See cover sheets.
Item 3. If this statement is filed pursuant to $240.13d-1(b)
or 240.13d-2(b), check whether the person filing is a:
(a) ( ) Broker or Dealer registered under section 15 of the
Page 9 of 14 Pages
Act;
(b) ( ) Bank as defined in section 3(a) (6) of the Act;
(c) ( ) Insurance Company as defined in section 3(a) (19) of
the Act;
(d) ( ) Investment Company registered under section 8 of the
Investment Company Act of 1940;
(e) (x) An Investment Adviser in accordance with $240.13d
-1(b)(I)(ii)(E);
(f) ( ) An employee benefit plan or endowment fund in
accordance with $240.13d-1(b)(I)(ii)(F);
(g) (x) A parent holding company or control person in
accordance with $240.13d-1(b)(1)(ii)(G);
(h) ( ) A savings association as defined in Section 3(b) of
the Federal Deposit Insurance Act;
(i) ( ) A church plan that is excluded from the definition of
an investment company under section 3(c)(14) of the
Investment Company Act of 1940;
(j) ( ) Group, in accordance with $240.13d-1(b)(1)(ii)(J).
See Exhibit A attached hereto.
Item 4. Ownership:
(a) Amount Beneficially Owned: 1,234,870 shares of Common Stock
are beneficially owned by Austin W. Marxe and David Greenhouse;
of which 663,463 shares of common stock are owned by SSF,
230,770 shares of common stock are owned by the Private Equity
Fund, 119,484 shares of common stock are owned by the Technology
Fund and 221,154 shares of common stock are owned by CAY.
Page 10 of 14 Pages
(b) Percent of Class: 11.3 percent of the Common Stock are
beneficially owned by Austin Marxe and David Greenhouse. 6.1
percent are owned by SSF, 2.1 percent are owned by the Private
Equity Fund, 1.1 percent are beneficially owned by the
Technology Fund, and 2.0 percent are beneficially owned by CAY.
(c) Number of Shares as to which the person has Rights to
Vote and/or Dispose of Securities: SSF, MGP, The Private
Equity Fund, MG Adviser L.L.C, the Technology Fund, SST
Advisers L.L.C., CAY and AWM have sole power to vote or to
direct the vote and to dispose or to direct the disposition
of all securities reported hereby which are respectively
beneficially owned by each Fund and its Adviser.
Austin Marxe and David Greenhouse have shared power to vote
or to direct the vote of and to dispose or to direct the
disposition of securities reported hereby which are
beneficially owned by Austin Marxe and David Greenhouse by
virtue of being Executive Officers of the Investment
Advisers.
Item 5. Ownership of Five Percent or Less of a Class: If this
statement is being filed to report the fact that as of the
date hereof the reporting person has ceased to be the
beneficial owner of more that five percent of the class
of securities, check the following .
Page 11 of 14 Pages
Item 6.Ownership of More than Five Percent on Behalf of
Another Person: SSF, The Private Equity Fund, the
Technology Fund and CAY as owners of the securities in
question, have the right to receive any dividends from, or
proceeds from the sale of, such securities.
Item 7. Identification and Classification of the Subsidiary
Which Acquired the Security being Reported on By the Parent
Holding Company: See Exhibit A attached hereto.
Item 8. Identification and Classification of Members of the
Group: Not applicable
Item 9. Notices of Dissolution of Group: Not applicable.
Item 10. Certification:
By signing below I certify that, to the best of
my knowledge and belief, the securities referred to above were
acquired and are held in the ordinary course of business and
were not acquired and are not held for the purpose of or with
the effect of changing or influencing the control of the issuer
of the securities and were not acquired and are not held in
connection with or as a participant in any transaction having
that purpose or effect.
Page 12 of 14 Pages
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.
Dated: February 11, 2002
SPECIAL SITUATIONS FUND III, L.P.
By:/s/ Austin W. Marxe
Austin W. Marxe
Managing Director
MGP ADVISERS LIMITED PARTNERSHIP
By:/s/ Austin W. Marxe
Austin W. Marxe
Chief Executive Officer
SPECIAL SITUATIONS PRIVATE EQUITY FUND, L.P.
By:/s/ Austin W. Marxe
Austin W. Marxe
Managing Director
MG ADVISERS L.L.C.
By:/s/ Austin W. Marxe
Austin W. Marxe
President and Chief Executive Officer
SPECIAL SITUATIONS TECHNOLOGY FUND, L.P.
By: /s/ Austin W. Marxe
Austin W. Marxe
Managing Director
Page 13 of 14 Pages
SST ADVISERS L.L.C
By: /s/ Austin W. Marxe
Austin W. Marxe
President and CEO
SPECIAL SITUATIONS CAYMAN FUND, L.P.
By: /s/ Austin W. Marxe
Austin W. Marxe
Managing Director
AWM INVESTMENT COMPANY, INC.
By: /s/ Austin W. Marxe
Austin W. Marxe
President and CEO
/s/ Austin W. Marxe
AUSTIN W. MARXE
/s/David M Greenhouse
DAVID GREENHOUSE
Page 14 of 14 Pages
EXHIBIT A
This Exhibit explains the relationship between the
Reporting Persons. MGP Advisers Limited Partnership (MGP), a
Delaware limited partnership, is the general partner of the
Special Situations Fund III, L.P., a Delaware limited
partnership. MG Advisers L.L.C. (MG), a New York limited
liability company, is the general partner of the Special
Situations Private Equity Fund, L.P., a Delaware Limited
Partnership. SST Advisers L.L.C., A Delaware limited liability
company (SST) is the general partner of the Special Situations
Technology Fund, L.P., a Delaware Limited Partnership. AWM
Investment Company, Inc., a Delaware corporation (AWM) is the
general partner of the Special Situations Cayman Fund, L.P., a
Cayman Islands limited partnership as well as the general
partner of MGP. Austin W. Marxe and David M. Greenhouse are the
principal owners of MGP, MG and SST and are principally
responsible for the selection, acquisition and disposition of
the portfolios securities by the investment advisers on behalf
of their Fund.