Filing Details

Accession Number:
0001185185-18-000219
Form Type:
13G Filing
Publication Date:
2018-02-14 06:05:19
Filed By:
Millennium Technology Value Partners Rcm L P
Company:
Ipass Inc (NASDAQ:IPAS)
Filing Date:
2018-02-14
SEC Url:
13G Filing
Ownership Summary

Please notice the below summary table is generated without human intervention and may contain errors. Please refer to the complete filing displayed below for exact figures.

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
Millennium Technology Value Partners 0 0 0 0 0 0%
Millennium Technology Value Partners (RCM) 0 0 0 0 0 -0- 12. TYPE OF REPORTING PERSON PN Page 4 of 12 CUSIP NO. 46261V108 1. NAME OF REPORTING PERSONS Millennium Technology Value Partners Management, L.P. 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) (b) 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5. SOLE VOTING POWER -0- 6. SHARED VOTING POWER -0- 7. SOLE DISPOSITIVE POWER -0- 8. SHARED DISPOSITIVE POWER -0- 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON -0- 10. CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 -0- 12. TYPE OF REPORTING PERSON PN Page 5 of 12 CUSIP NO. 46261V108 1. NAME OF REPORTING PERSONS Millennium TVP (GP), LLC 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) (b) 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5. SOLE VOTING POWER -0- 6. SHARED VOTING POWER -0- 7. SOLE DISPOSITIVE POWER -0- 8. SHARED DISPOSITIVE POWER -0- 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON -0- 10. CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 -0- 12. TYPE OF REPORTING PERSON OO Page 6 of 12 CUSIP NO. 46261V108 1. NAME OF REPORTING PERSONS Samuel L. Schwerin 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) (b) 3. SEC USE ONLY 4. CITIZENSHIP OR PLACE OF ORGANIZATION United States NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5. SOLE VOTING POWER 141,491 6. SHARED VOTING POWER -0- 7. SOLE DISPOSITIVE POWER 141,491 8. SHARED DISPOSITIVE POWER -0- 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON -0- 10. CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11 0.0021%
Millennium Technology Value Partners Management 0 0 0 0 0
Millennium TVP (GP) 0 0 0 0 0
Samuel L. Schwerin 141,491 0 141,491 0 0
Filing


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
____________________________
SCHEDULE 13G/A
Under the Securities Exchange Act of 1934
 (Amendment No. 2 - EXIT FILING)

iPass Inc.
(Name of Issuer)
Common Stock, par value $0.001
(Title of Class of Securities)
46261V108
(CUSIP Number)
December 31, 2017
(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)
          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 (“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.  46261V108
 
1.
NAME OF REPORTING PERSONS

Millennium Technology Value Partners, L.P.
2.
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) ☐
(b) ý
3.
SEC USE ONLY
4.
CITIZENSHIP OR PLACE OF ORGANIZATION

Delaware
 
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:
5.
SOLE VOTING POWER
-0-
6.
SHARED VOTING POWER
-0-
7.
SOLE DISPOSITIVE POWER
-0-
8.
SHARED DISPOSITIVE POWER
-0-
9.
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
-0-
10.
CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES  ☐                  
11.
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
0%
12.
TYPE OF REPORTING PERSON
PN

CUSIP NO.  46261V108

1.
NAME OF REPORTING PERSONS

Millennium Technology Value Partners (RCM), L.P.
2.
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) ☐
(b) ý
3.
SEC USE ONLY
4.
CITIZENSHIP OR PLACE OF ORGANIZATION

Delaware
 
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:
5.
SOLE VOTING POWER
-0-
6.
SHARED VOTING POWER
-0-
7.
SOLE DISPOSITIVE POWER
-0-
8.
SHARED DISPOSITIVE POWER
-0-
9.
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
-0-
10.
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES  ☐                                         
11.
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
-0-
12.
TYPE OF REPORTING PERSON
PN

CUSIP NO.  46261V108

1.
NAME OF REPORTING PERSONS

Millennium Technology Value Partners Management, L.P.
2.
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) ☐
(b) ý
3.
SEC USE ONLY
4.
CITIZENSHIP OR PLACE OF ORGANIZATION

Delaware
 
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:
5.
SOLE VOTING POWER
-0-
6.
SHARED VOTING POWER
-0-
7.
SOLE DISPOSITIVE POWER
-0-
8.
SHARED DISPOSITIVE POWER
-0-
9.
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
-0-
10.
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES  ☐
11.
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
-0-
12.
TYPE OF REPORTING PERSON
PN

CUSIP NO.  46261V108

1.
NAME OF REPORTING PERSONS

Millennium TVP (GP), LLC
2.
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) ☐ 
(b) ý
3.
SEC USE ONLY
4.
CITIZENSHIP OR PLACE OF ORGANIZATION

Delaware
 
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:
5.
SOLE VOTING POWER
-0-
6.
SHARED VOTING POWER
-0-
7.
SOLE DISPOSITIVE POWER
-0-
8.
SHARED DISPOSITIVE POWER
-0-
9.
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
-0-
10.
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES  ☐
11.
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
-0-
12.
TYPE OF REPORTING PERSON
OO

CUSIP NO.  46261V108

1.
NAME OF REPORTING PERSONS

Samuel L. Schwerin
2.
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) ☐
(b) ý
3.
SEC USE ONLY
4.
CITIZENSHIP OR PLACE OF ORGANIZATION

United States
 
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:
5.
SOLE VOTING POWER
141,491
6.
SHARED VOTING POWER
-0-
7.
SOLE DISPOSITIVE POWER
141,491
8.
SHARED DISPOSITIVE POWER
-0-
9.
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
-0-
10.
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES  ☐
11.
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 11
0.0021%
12.
TYPE OF REPORTING PERSON
IN

CUSIP NO.  46261V108
 
Item 1.
(a)        Name of Issuer:
iPass Inc.
(b)        Address of Issuer’s Principal Executive Offices:
3800 Bridge Parkway
Redwood Shores, California 94065
Item 2.
(a)        Name of Person Filing:
This Schedule 13G/A is filed pursuant to Rule 13d-1(c) under the Securities Exchange Act of 1934, as amended (the “Act”), by:
(i)
Millennium Technology Value Partners, L.P.;
(ii)
Millennium Technology Value Partners (RCM), L.P.;
(iii)
Millennium Technology Value Partners Management, L.P.;
(iv)
Millennium TVP (GP), LLC; and
(v)
Samuel L. Schwerin.
The Filers have entered into a Joint Filing Agreement and Power of Attorney, dated February 14, 2018, a copy of which is attached as Exhibit A to this Schedule 13G/A, pursuant to which the Filers agreed to file this Schedule 13G and any amendments thereto jointly in accordance with the provisions of Rule 13d-1(k)(1) under the Act.  The Filers are filing this statement jointly, but not as members of a group and each expressly disclaims membership in a group.
 (b)       Address of Principal Business Office or, if None, Residence:
The principal business address for each Filer is:

60 East 42nd St., Ste. 1365
New York, NY 10165

(c)        Citizenship:
Millennium RCM LP, Millennium LP and Millennium Management are each Delaware limited partnerships.  Millennium TVP is a Delaware limited liability company. Samuel L. Schwerin is a United States citizen.
(d)        Title of Class of Securities:
Common Stock, par value $0.001 (“Common Stock”)
(e)        CUSIP Number:
46261V108
CUSIP NO.  46261V108
Item 3.
If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
Not applicable.
Item 4.
Ownership:
The information required by Items 4(a)-(c) is set forth in Rows 5-11 of the cover page for each Filer and is incorporated herein by reference for each Filer.  The percentage ownership set forth is based on 66,742,123 shares of Common Stock (the number of shares of Common Stock reported on the cover page of the Issuer’s Quarterly Report on Form 10-Q for quarterly period ended September 30, 2017).
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 than five percent of the class of securities, check the following  .
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 the 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 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.
CUSIP NO.  46261V108
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, 2018
 
 
 
MILLENNIUM TECHNOLOGY VALUE PARTNERS, L.P.
 
 
By:    Millennium Technology Value Partners Management, L.P.,
          its General Partner
 
By:    Millennium TVP (GP), LLC,
          its General Partner
 
 
By: /s/ Daniel Burstein
Daniel Burstein, Manager
   
 
MILLENNIUM TECHNOLOGY VALUE PARTNERS (RCM), L.P.
 
 
By:    Millennium Technology Value Partners Management, L.P.,
          its General Partner
 
By:    Millennium TVP (GP), LLC,
          its General Partner
 
By: /s/ Daniel Burstein
Daniel Burstein, Manager
   
 
MILLENNIUM TECHNOLOGY VALUE PARTNERS MANAGEMENT, L.P.
 
 
By:    Millennium TVP (GP), LLC,
          its General Partner
 
By: /s/ Daniel Burstein
Daniel Burstein, Manager
 
 
CUSIP NO.  46261V108
 
 
MILLENNIUM TVP (GP), LLC
 
 
By /s/ Daniel Burstein
Daniel Burstein, Manager
   
 
/s/ Samuel L. Schwerin
Samuel L. Schwerin
 
 

 

CUSIP NO.  46261V108
 
EXHIBIT A

JOINT FILING AGREEMENT and POWER OF ATTORNEY

Pursuant to Rule 13d-1(k), the undersigned hereby agree that the attached Schedule 13G/A (including any amendments thereto) is filed on behalf of each of them with respect to the  Common Stock, par value $0.001 per share, of iPass Inc., and further agree that this Joint Filing Agreement and Power of Attorney shall be included as an exhibit to such joint filing. 
Each of the undersigned hereby makes, constitutes, and appoints Samuel L. Schwerin their true and lawful attorney-in-fact, with full power of substitution, for it in any and all capacities to execute and cause to be filed with the Securities and Exchange Commission any and all amendments to this Schedule 13G/A, together with exhibits to any such amendments and other documents in connection therewith, and hereby ratifies and confirms all that said attorney-in-fact or said attorney-in-fact’s substitute or substitutes may do or cause to be done by virtue hereof.

 
Date: February 14, 2018
 
 
 
MILLENNIUM TECHNOLOGY VALUE PARTNERS, L.P.
 
 
By:    Millennium Technology Value Partners Management, L.P.,
          its General Partner
 
By:    Millennium TVP (GP), LLC,
          its General Partner
 
 
By: /s/ Daniel Burstein
Daniel Burstein, Manager
   
 
MILLENNIUM TECHNOLOGY VALUE PARTNERS (RCM), L.P.
 
 
By:    Millennium Technology Value Partners Management, L.P.,
          its General Partner
 
By:    Millennium TVP (GP), LLC,
          its General Partner
 
By: /s/ Daniel Burstein
Daniel Burstein, Manager
 
 
CUSIP NO.  46261V108
 
 
MILLENNIUM TECHNOLOGY VALUE PARTNERS MANAGEMENT, L.P.
 
 
By:   Millennium TVP (GP), LLC,
          its General Partner
 
By: /s/ Daniel Burstein
Daniel Burstein, Manager

 
MILLENNIUM TVP (GP), LLC
 
 
By /s/ Daniel Burstein
Daniel Burstein, Manager
   
 
/s/ Samuel L. Schwerin
Samuel L. Schwerin