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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__)*
Novatel Wireless, Inc.
______________________________________________________
(Name of Issuer)
Common Stock, $ .001 Par Value
______________________________________________________
(Title of Class of Securities)
66987M109
____________________________________
(CUSIP Number)
November 27, 2002
-------------------------------------------------------
(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. 66987M109 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. ("The Fund") F13-3737427
MGP Advisers Limited Partnership* ("MGP") F13-3263120
- ----------------------------------------------------------------
(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
Delaware
- ----------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER See Marxe/Greenhouse
SHARES ------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER None
OWNED BY -------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER See Marxe/Greenhouse
REPORTING -------------------------------------------------
PERSON WITH: (8) SHARED DISPOSITIVE POWER None
- ----------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICALLY OWNED BY EACH REPORTING PERSON
221,159(includes 1,198,052 warrants exercisable for 49,783
common and 575 cvt Pfd convertible for 79,870 common)
- ----------------------------------------------------------------
(10) CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES (See Instructions)
- ----------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
3.5
- ----------------------------------------------------------------
(12) TYPE OF REPORTING PERSON (See Instructions)
IV/IA
- ----------------------------------------------------------------
* AWM Investment Company, Inc., a Delaware corporation is the
General Partner of this entity.
CUSIP No. 66987M109 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
("SSPE")
MG Advisers L.L.C. ("MG") F13-3916549
- ----------------------------------------------------------------
(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
Delaware
- ----------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER See Marxe/Greenhouse
SHARES ------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER None
OWNED BY -------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER See Marxe/Greenhouse
REPORTING -------------------------------------------------
PERSON WITH: (8) SHARED DISPOSITIVE POWER None
- ----------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICALLY OWNED BY EACH REPORTING PERSON
146,943 (includes 545,454 warrants exercisable for 36,363
common and 1,000 cvt pfd convertible for 86,580 common)
- ----------------------------------------------------------------
(10) CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES (See Instructions)
- ----------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
2.4
- ----------------------------------------------------------------
(12) TYPE OF REPORTING PERSON (See Instructions)
IV/IA
- ----------------------------------------------------------------
CUSIP No. 66987M109 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 Cayman Fund, L.P. ("CAY") 98-0132442
AWM Investment Company, Inc. ("AWM") 11-3086452
- ----------------------------------------------------------------
(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
Cayman Islands, Delaware
- ----------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER See Marxe/Greenhouse
SHARES -------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER None
OWNED BY -------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER See Marxe/Greenhouse
REPORTING -------------------------------------------------
PERSON WITH: (8) SHARED DISPOSITIVE POWER None
- ----------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICALLY OWNED BY EACH REPORTING PERSON
105,509 (includes 399,350 warrants exercisable for 26,623 common
and 700 cvt pfd convertible for 60,606 common)
- ----------------------------------------------------------------
(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
1.7
- ----------------------------------------------------------------
(12) TYPE OF REPORTING PERSON*
IV/IA
- ----------------------------------------------------------------
CUSIP No. 66987M109 13G Page 5 of 14
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(1) NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Special Situations Technology Fund, L.P. ("SST")
F13-3937585
SST Advisers LLC ("SSTA") F13-3937583
- ----------------------------------------------------------------
(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
Delaware
- ----------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER See Marxe/Greenhouse
SHARES ------------------------------------------------
- -BENEFICIALLY (6) SHARED VOTING POWER None
OWNED BY -------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER See Marxe/Greenhouse
REPORTING -------------------------------------------------
PERSON WITH: (8) SHARED DISPOSITIVE POWER None
- ----------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICALLY OWNED BY EACH REPORTING PERSON
165,473 (includes 389,610 warrants exercisable for 25,974
common and 1,400 cvt pfd convertible for 121,212 common)
- ----------------------------------------------------------------
(10) CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES (See Instructions)
- ----------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
2.6
- ----------------------------------------------------------------
(12) TYPE OF REPORTING PERSON (See Instructions)
IV/IA
- ----------------------------------------------------------------
CUSIP No. 66987M109 13G Page 6 of 14 Pages
- ----------------------------------------------------------------
(1) NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY).
Austin W. Marxe
David M. Greenhouse
- ----------------------------------------------------------------
(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
United States of America
- ----------------------------------------------------------------
NUMBER OF (5) SOLE VOTING POWER 639,084
SHARES -------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER None
OWNED BY -------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER 639,084
REPORTING -------------------------------------------------
PERSON WITH: (8) SHARED DISPOSITIVE POWER None
- ----------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICALLY OWNED BY EACH REPORTING PERSON
639,084 (includes 2,532,465 warrants exercisable for
1687,831 common and 3,675 cvt pfd convertible into 318,181
common)
- ----------------------------------------------------------------
(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
9.7
- ----------------------------------------------------------------
(12) TYPE OF REPORTING PERSON*
IN
- ----------------------------------------------------------------
Page 7 of 14 Pages
Item 1.
(a) Name of Issuer: Novatel Wireless, Inc.
(b) Address of Issuer's Principal Executive Offices:
9360 Towne Centre Drive, Ste 110, San Diego, CA 92121
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 III"); (ii) Special Situations Private Equity
Fund, L.P., a Delaware limited partnership ("SSPE") (iii)
Special Situations Cayman Fund, L.P., a Cayman Islands limited
partnership (the "Cayman Fund"); (iv) Special Situations
Technology Fund, L.P., a Delaware limited partnership ("SST");
(v) MGP Advisers Limited Partnership, a Delaware limited
partnership, ("MGP"); (vi) MG Advisers L.L.C., a New York
limited liability company ("MG"); (vii) AWM Investment Company,
Inc., a Delaware corporation ("AWM"); (viii SST Advisers L.L.C.,
a Delaware limited liability company ("SSTA"); (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 the Cayman Fund, is 153 East 53 Street, New
York, New York 10022. The principal office and business address
of the Cayman Fund is c/o CIBC Bank and Trust Company (Cayman)
Limited, CIBC Bank Building, P.O. Box 694, Grand Cayman, Cayman
Page 8 of 14 Pages
Islands, British West Indies.
(c) Citizenship: SSF III, SSPE, SST, and MGP are Delaware
limited partnerships. MG is a New York limited liability
company. AWM is a Delaware corporation and SSTA is a Delaware
limited liability company. The Cayman Fund was formed under the
laws of the Cayman Island. Austin W. Marxe and David M.
Greenhouse are United States citizens. The principal business
of SSF III, SSPE, SST and the Cayman Fund (individually, a
"Fund" and, collectively, the "Funds") is to 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 III. The principal business of MG is to act as the general
partner of and the investment adviser to SSPE. The principal
business of SSTA is to act as general partner of and investment
adviser to SST. The principal business of AWM is to act as
general partner of MGP and general partner of and investment
adviser to the Cayman Fund. MGP, MG, SSTA and AWM are referred
to herein, individually, as an "Adviser" and, collectively, as
the "Advisers." 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.
(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:
Page 9 of 14 Pages
(a) ( ) Broker or Dealer registered under section 15 of the
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) (x) 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: 639,084 shares of common stock
are beneficially owned by Austin Marxe and David Greenhouse;
of which 91, 506 common shares, 575 convertible preferred
shares; convertible into 49,783 common shares and 1,198,052
warrants exercisable for 79,870 common are owned by SSF III,
Page 10 of 14 Pages
24,000 common shares, 1,000 convertible preferred shares;
convertible into 86,580 common shares and 545,454 warrants
exercisable for 36,363 common are owned by SSPE, 18,280 common
shares, 700 convertible preferred shares; convertible into
60,606 common shares and 399,350 warrants exercisable for 26,623
common are owned by CAY, 18,287 common shares, 1,400 convertible
preferred shares; convertible into 121,212 common shares and
389,610 warrants exercisable for 25,974 common are owned by SST.
(b) Percent of Class: 9.7 percent of the common stock are owned
by Austin Marxe and David Greenhouse, 3.5 percent are owned by
SSF III, 2.4 are owned by SSPE, 1.7 percent are owned by CAY and
2.6 percent are owned by SST.
(c) Number of Shares as to which the person has Rights to
Vote and/or Dispose of Securities: SSF III, SSPE, CAY, SST,
MGP, MG, AWM and SSTA 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
Page 11 of 14 Pages
beneficial owner of more that five percent of the class of
securities, check the following .
Item 6.Ownership of More than Five Percent on Behalf of Another
Person: SSF III, SSPE, CAY and SST, 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: December 10, 2002
SPECIAL SITUATIONS FUND III, L.P.
By:/s/ Austin W. Marxe
Austin W. Marxe
Managing Director
MGP ADVISERS LIMITED PARTERSHIP
By:/s/ Austin W. Marxe
Austin W. Marxe
President and Chief Executive Officer
SPECIAL SITUATIONS PRIVATE EQUITY FUND, L.P.
By:/s/ Austin W. Marxe
Austin W. Marxe
President and Chief Executive Officer
MG ADVISERS, L.L.C.
By:/s/ Austin W. Marxe
Austin W. Marxe
President and Chief Executive Officer
Page 13 of 14 Pages
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
SPECIAL SITUATIONS TECHNOLOGY FUND, L.P.
By:/s/ Austin W. Marxe
Austin W. Marxe
President and Chief Executive Officer
SST ADVISERS, L.L.C.
By:/s/ Austin W. Marxe
Austin W. Marxe
President and Chief Executive Officer
/s/ Austin W. Marxe
AUSTIN W. MARXE
/s/David M Greenhouse
DAVID M. GREENHOUSE
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. AWM Investment Company, Inc., a Delaware
corporation, is the general partner of MGP and the general
partner of and investment adviser to the Cayman Fund. MG
Advisers, L.L.C. is the general partner of and investment
adviser to the Special Situations Private Equity Fund, L.P. SST
Adviser, L.L.C. is the general partner of and investment adviser
to Special Situations Technology Fund, L.P. Austin W. Marxe
and David M. Greenhouse are the principal owners of MGP, MG, AWM
and SSTA and are principally responsible for the selection,
acquisition and disposition of the portfolios securities by the
investment advisers on behalf of their Fund.