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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. __3__)*
Iridex Corp.
______________________________________________________
(Name of Issuer)
Common Stock, $0.01 Par Value
______________________________________________________
(Title of Class of Securities)
462684101
____________________________________
(CUSIP Number)
May 31, 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 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. 462684101 13G Page 2 of 11
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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
266,470
- ----------------------------------------------------------------
(10) CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES (See Instructions)
- ----------------------------------------------------------------
(11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
3.9
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(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. 462684101 13G Page 3 of 11
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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
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(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
59,900
- ----------------------------------------------------------------
(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
- ----------------------------------------------------------------
(12) TYPE OF REPORTING PERSON*
IV/IA
- ----------------------------------------------------------------
CUSIP No. 462684101 13G Page 4 of 11
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(1) NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY).
Austin W. Marxe
David M. Greenhouse
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(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 326,370
SHARES -------------------------------------------------
BENEFICIALLY (6) SHARED VOTING POWER None
OWNED BY -------------------------------------------------
EACH (7) SOLE DISPOSITIVE POWER 326,370
REPORTING -------------------------------------------------
PERSON WITH: (8) SHARED DISPOSITIVE POWER None
- ----------------------------------------------------------------
(9) AGGREGATE AMOUNT BENEFICALLY OWNED BY EACH REPORTING PERSON
326,370
- ----------------------------------------------------------------
(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
4.8
- ----------------------------------------------------------------
(12) TYPE OF REPORTING PERSON*
IN
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Page 5 of 11 Pages
Item 1.
(a) Name of Issuer: Iridex Corp.
(b) Address of Issuer's Principal Executive Offices:
1212 Terra Bella Avenue, Mountain View, CA 95034-1824
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 Cayman Fund,
L.P., a Cayman Islands limited partnership (the "Cayman Fund");
(iii) MGP Advisers Limited Partnership, a Delaware limited
partnership, ("MGP"); (iv) AWM Investment Company, Inc., a
Delaware corporation ("AWM"); (v) Austin W. Marxe and (vi) 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
Islands, British West Indies.
(c) Citizenship: SSF III and MGP are Delaware limited
partnerships. The Cayman Fund was formed under the laws of the
Cayman Islands and AWM is a Delaware corporation. Austin W.
Marxe and David M. Greenhouse are United States citizens.
Page 6 of 11 Pages
The principal business of SSF III 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 AWM is
to act as the general partner of MGP and as the general partner
of and the investment adviser to the Cayman Fund. MGP 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.
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
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
Page 7 of 11 Pages
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: 326,370 shares of Common Stock
are beneficially owned by Austin W. Marxe and David
Greenhouse; of which 266,470 shares of common stock are
owned by SSF III and 59,900 shares of common stock are
owned by the Cayman Fund.
(b) Percent of Class: 4.8 percent of the Common Stock are
beneficially owned by Austin Marxe and David Greenhouse. 3.9
percent of the Common Stock are beneficially owned by SSF
III and .9 percent are beneficially owned by the Cayman
Fund.
(c) Number of Shares as to which the person has Rights to
Vote and/or Dispose of Securities: SSF III, MGP, the
Cayman Fund and AWM have sole power to vote or to direct
Page 8 of 11 Pages
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 x .
Item 6.Ownership of More than Five Percent on Behalf of
Another Person: SSF III and the Cayman Fund 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.
Page 9 of 11 Pages
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 10 of 11 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: June 7, 2001
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 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 M. GREENHOUSE
Page 11 of 11 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. 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. Austin W. Marxe and David M. Greenhouse are
the principal owners of MGP and AWM and are principally
responsible for the selection, acquisition and disposition of the
portfolios securities by the investment advisers on behalf of
their Fund.