UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 ----------- SCHEDULE 13G UNDER THE SECURITIES EXCHANGE ACT OF 1934 (AMENDMENT NO. _____________)* PDF SOLUTIONS, INC. - -------------------------------------------------------------------------------- (Name of Issuer) COMMON STOCK - -------------------------------------------------------------------------------- (Title of Class of Securities) 693282 10 5 - -------------------------------------------------------------------------------- (CUSIP Number) JULY 26, 2001 - -------------------------------------------------------------------------------- (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 disclosures provided in a prior cover page. 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 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. 693282 10 5 --------------------- (1) NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Telos Venture Partners, L.P. --------------------------------------------------------------------- (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) [ ] (b) [X] --------------------------------------------------------------------- (3) SEC USE ONLY --------------------------------------------------------------------- (4) CITIZENSHIP OR PLACE OF ORGANIZATION California --------------------------------------------------------------------- (5) SOLE VOTING POWER 2,500,000 shares, except that Telos Management LLC ("LLC") may be deemed to have sole voting power with respect to such shares, and Bruce R. NUMBER OF Bourbon ("Bourbon"), Athanasios Kalekos ("Kalekos") and Paul Asel ("Asel"), the managing SHARES members of LLC, may be deemed to have shared voting power with respect to such shares. BENEFICIALLY -------------------------------------------------------- (6) SHARED VOTING POWER OWNED BY See response to Row 5. EACH -------------------------------------------------------- (7) SOLE DISPOSITIVE POWER REPORTING 2,500,000 shares, except that LLC may be deemed PERSON to have sole dispositive power with respect to such shares, and Bourbon, Kalekos and Asel may be WITH deemed to have shared dispositive power with respect to such shares. -------------------------------------------------------- (8) SHARED DISPOSITIVE POWER See response to Row 7. -------------------------------------------------------- (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,500,000 --------------------------------------------------------------------- (10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See Instructions) [ ] --------------------------------------------------------------------- (11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 10.9% --------------------------------------------------------------------- (12) TYPE OF REPORTING PERSON (See Instructions) PN ---------------------------------------------------------------------
CUSIP NO. 693282 10 5 --------------------- (1) NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Telos Management LLC --------------------------------------------------------------------- (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) [ ] (b) [X] --------------------------------------------------------------------- (3) SEC USE ONLY --------------------------------------------------------------------- (4) CITIZENSHIP OR PLACE OF ORGANIZATION California --------------------------------------------------------------------- (5) SOLE VOTING POWER 2,500,000 shares, all of which are directly owned by Telos Venture Partners, L.P., ("Telos"). LLC NUMBER OF is the general partner of Telos and may be deemed to have sole voting power with respect to such SHARES shares, and Bourbon, Kalekos and Asel, the managing members of LLC, may be deemed to have BENEFICIALLY shared voting power with respect to such shares. -------------------------------------------------------- OWNED BY (6) SHARED VOTING POWER EACH See response to Row 5. -------------------------------------------------------- REPORTING (7) SOLE DISPOSITIVE POWER PERSON 2,500,000 shares, all of which are directly owned by Telos, except that LLC may be deemed to have WITH sole dispositive power with respect to such shares, and Bourbon, Kalekos and Asel may be deemed to have shared dispositive power with respect to such shares. -------------------------------------------------------- (8) SHARED DISPOSITIVE POWER See response to Row 7. -------------------------------------------------------- (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,500,000 --------------------------------------------------------------------- (10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See Instructions) [ ] --------------------------------------------------------------------- (11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 10.9% --------------------------------------------------------------------- (12) TYPE OF REPORTING PERSON (See Instructions) OO ---------------------------------------------------------------------
CUSIP NO. 693282 10 5 --------------------- (1) NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Bruce R. Bourbon --------------------------------------------------------------------- (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) [ ] (b) [X] --------------------------------------------------------------------- (3) SEC USE ONLY --------------------------------------------------------------------- (4) CITIZENSHIP OR PLACE OF ORGANIZATION U.S. Citizen --------------------------------------------------------------------- (5) SOLE VOTING POWER NUMBER OF 0 shares -------------------------------------------------------- SHARES (6) SHARED VOTING POWER BENEFICIALLY 2,500,000 shares, all of which are directly owned by Telos. Bourbon is a managing member of LLC, OWNED BY the general partner of Telos, and may be deemed to have shared voting power with respect to such EACH shares. -------------------------------------------------------- REPORTING (7) SOLE DISPOSITIVE POWER PERSON 0 shares -------------------------------------------------------- WITH (8) SHARED DISPOSITIVE POWER 2,500,000 shares, all of which are directly owned by Telos. Bourbon is a managing member of LLC, the general partner of Telos, and may be deemed to have shared dispositive power with respect to such shares. -------------------------------------------------------- (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,500,000 --------------------------------------------------------------------- (10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See Instructions) [ ] --------------------------------------------------------------------- (11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 10.9% --------------------------------------------------------------------- (12) TYPE OF REPORTING PERSON (See Instructions) IN ---------------------------------------------------------------------
CUSIP NO. 693282 10 5 --------------------- (1) NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Athanasios Kalekos --------------------------------------------------------------------- (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) [ ] (b) [X] --------------------------------------------------------------------- (3) SEC USE ONLY --------------------------------------------------------------------- (4) CITIZENSHIP OR PLACE OF ORGANIZATION Greek Citizen --------------------------------------------------------------------- (5) SOLE VOTING POWER NUMBER OF 0 shares -------------------------------------------------------- SHARES (6) SHARED VOTING POWER BENEFICIALLY 2,500,000 shares, all of which are directly owned by Telos. Kalekos is a managing member of LLC, OWNED BY the general partner of Telos, and may be deemed to have shared voting power with respect to such EACH shares. -------------------------------------------------------- REPORTING (7) SOLE DISPOSITIVE POWER PERSON 0 shares -------------------------------------------------------- WITH (8) SHARED DISPOSITIVE POWER 2,500,000 shares, all of which are directly owned by Telos. Kalekos is a managing member of LLC, the general partner of Telos, and may be deemed to have shared dispositive power with respect to such shares. -------------------------------------------------------- (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,500,000 --------------------------------------------------------------------- (10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See Instructions) [ ] --------------------------------------------------------------------- (11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 10.9% --------------------------------------------------------------------- (12) TYPE OF REPORTING PERSON (See Instructions) IN ---------------------------------------------------------------------
CUSIP NO. 693282 10 5 --------------------- (1) NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Paul Asel --------------------------------------------------------------------- (2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions) (a) [ ] (b) [X] --------------------------------------------------------------------- (3) SEC USE ONLY --------------------------------------------------------------------- (4) CITIZENSHIP OR PLACE OF ORGANIZATION U.S. Citizen --------------------------------------------------------------------- (5) SOLE VOTING POWER 0 shares -------------------------------------------------------- NUMBER OF (6) SHARED VOTING POWER SHARES 2,500,000 shares, all of which are directly owned by Telos. Asel is a managing member of LLC, the BENEFICIALLY general partner of Telos, and may be deemed to have shared voting power with respect to such OWNED BY shares. -------------------------------------------------------- EACH (7) SOLE DISPOSITIVE POWER REPORTING 0 shares -------------------------------------------------------- PERSON (8) SHARED DISPOSITIVE POWER WITH 2,500,000 shares, all of which are directly owned by Telos. Asel is a managing member of LLC, the general partner of Telos, and may be deemed to have shared dispositive power with respect to such shares. -------------------------------------------------------- (9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,500,000 --------------------------------------------------------------------- (10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (See Instructions) [ ] --------------------------------------------------------------------- (11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 10.9% --------------------------------------------------------------------- (12) TYPE OF REPORTING PERSON (See Instructions) IN ---------------------------------------------------------------------
ITEM 1(a). NAME OF ISSUER: PDF Solutions, Inc. ----------------------------------------------------------------- ITEM 1(b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES: 333 West San Carlos Street, Suite 700, San Jose, CA 95110 ----------------------------------------------------------------- ITEM 2(a). NAME OF PERSON FILING: This statement is being filed by Telos Venture Partners, L.P. ("Telos"), Telos Management LLC ("LLC") Bruce R. Bourbon ("Bourbon"), Athanasios Kalekos ("Kalekos") and Paul Asel ("Asel"). The foregoing entities and individuals are collectively referred to as the "Reporting Persons". LLC is the general partner of Telos, and may be deemed to have sole power to vote and sole power to dispose of shares of the issuer directly owned by Telos. Bourbon, Kalekos and Asel are the managing members of LLC may be deemed to have shared power to vote and shared power to dispose of the shares of the issuer directly owned by Telos. ITEM 2(b). ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE: The address of the principal business office for each of the Reporting Persons is: 835 Page Mill Road Palo Alto, CA 94304 ITEM 2(c). CITIZENSHIP: Telos is a California limited partnership, LLC is a California limited liability company, Bourbon and Asel are United States citizens and Kalekos is a Greek citizen. ITEM 2(d). TITLE OF CLASS OF SECURITIES: Common Stock ----------------------------------------------------------------- ITEM 2(e). CUSIP NUMBER: 693282 10 5 ----------------------------------------------------------------- ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO RULE 13d-1(b), 13d-2(b) OR 13d-2(c), CHECK WHETHER THE PERSON FILING IS A: (a) [ ] Broker or dealer registered under Section 15 of the Exchange Act; (b) [ ] Bank as defined in section 3(a)(6) of the Exchange Act; (c) [ ] Insurance company as defined in section 3(a)(19) of the Exchange Act; (d) [ ] Investment company registered under section 8 of the Investment Company Act of 1940; (e) [ ] An investment adviser in accordance with Rule 13-d(1)(b)(1)(ii)(E); (f) [ ] An employee benefit plan or endowment fund in accordance with Rule 13d-1(b)(1)(ii)(F); (g) [ ] A parent holding company or control person, in accordance with Rule 13d-1(b)(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 Rule 13d-1(b)(1)(ii)(J).
ITEM 4. OWNERSHIP. Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. (a) Amount Beneficially Owned: 2,500,000 ------------------------------------------------------------------------ (b) Percent of Class: 10.9% ------------------------------------------------------------------------ (c) Number of shares as to which such person has: (i) Sole power to vote or to direct the vote: ---------------------------------------- See Row 5 of the cover page for each Reporting Person (ii) Shared power to vote or to direct the vote: ------------------------------------------ See Row 6 of the cover page for each Reporting Person (iii) Sole power to dispose or to direct the disposition of: ----------------------------------------------------- See Row 7 of the cover page for each Reporting Person (iv) Shared power to dispose or to direct the disposition of: ------------------------------------------------------- See Row 8 of the cover page for each Reporting Person ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS. Not Applicable ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON. Not Applicable ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE 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. 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.
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. DATE: February 14, 2002 Telos Venture Partners, L.P. /s/ Bruce R. Bourbon -------------------- Managing Member of the General Partner, Telos Management LLC Telos Management LLC /s/ Bruce R. Bourbon -------------------- Managing Member Athanasios Kalekos /s/ Athanasios Kalekos ---------------------- Managing Member Paul Asel /s/ Paul Asel ------------- Managing Member Bruce R. Bourbon /s/ Bruce R. Bourbon -------------------- Managing Member
EXHIBIT INDEX EXHIBIT Exhibit A: Agreement of Joint Filing Exhibit B: Power of Attorney
EXHIBIT A Agreement of Joint Filing The undersigned hereby agree that a single Schedule 13G (or any amendment thereto) relating to the Common Stock of PDF Solutions, Inc. shall be filed on behalf of each of the undersigned and that this Agreement shall be filed as an exhibit to such Schedule 13G DATE: February 14, 2002 Telos Venture Partners, L.P. /s/ Bruce R. Bourbon -------------------- Managing Member of the General Partner, Telos Management LLC Telos Management LLC /s/ Bruce R. Bourbon -------------------- Managing Member Athanasios Kalekos /s/ Athanasios Kalekos ---------------------- Managing Member Paul Asel /s/ Paul Asel ------------- Managing Member Bruce R. Bourbon /s/ Bruce R. Bourbon -------------------- Managing Member
EXHIBIT B POWER OF ATTORNEY KNOW ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints Bruce R. Bourbon, his attorney-in-fact, with the power of substitution, for him or her in any and all capacities, to sign any this Schedule 13G and to file the same, with exhibits thereto and other documents in connection therewith with the Securities and Exchange Commission, hereby ratifying and confirming all that said attorney-in-fact, or his substitute or substitutes may do or cause to be done by virtue hereof. Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated. SIGNATURE TITLE --------- ----- /s/ Athanasios Kalekos Managing Member, Telos Management LLC - --------------------------------------------- Athanasios Kalekos /s/ Paul Asel Managing Member, Telos Management LLC - --------------------------------------------- Paul Asel