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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. _)*
VIVUS, INC.
(Name of Issuer)
COMMON STOCK, PAR VALUE $0.001 PER SHARE
(Title of Class of Securities)
928551100
(CUSIP Number)
JULY 19, 2007
(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)
[X] 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 reminder 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).
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CUSIP NO. 928551100 Schedule 13G Page 2 of 15
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1. Name of Reporting Person: Aisling Capital II, LP
I.R.S. Identification
No. of Above Person
- --------------------------------------------------------------------------------
2. Check the Appropriate Box (a) [_]
if a Member of a Group (b) [X]
- --------------------------------------------------------------------------------
3. SEC Use Only
- --------------------------------------------------------------------------------
4. Citizenship or Place of Organization Delaware
- --------------------------------------------------------------------------------
Number of 5. Sole Voting Power: 2,926,029
Shares ------------------------------------------------
Beneficially 6. Shared Voting Power: 0
Owned By ------------------------------------------------
Each 7. Sole Dispositive Power: 2,926,029
Reporting ------------------------------------------------
Person 8. Shared Dispositive Power: 0
- --------------------------------------------------------------------------------
9. Aggregate Amount Beneficially Owned by Each Reporting Person
2,926,029
- --------------------------------------------------------------------------------
10. Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares
[_]
- --------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row (9) 5.0%
- --------------------------------------------------------------------------------
12. Type of Reporting Person PN
- --------------------------------------------------------------------------------
CUSIP NO. 928551100 Schedule 13G Page 3 of 15
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1. Name of Reporting Person: Aisling Capital Partners, LP
I.R.S. Identification
No. of Above Person
- --------------------------------------------------------------------------------
2. Check the Appropriate Box (a) [_]
if a Member of a Group (b) [X]
- --------------------------------------------------------------------------------
3. SEC Use Only
- --------------------------------------------------------------------------------
4. Citizenship or Place of Organization Delaware
- --------------------------------------------------------------------------------
Number of 5. Sole Voting Power: 2,926,029
Shares ------------------------------------------------
Beneficially 6. Shared Voting Power: 0
Owned By ------------------------------------------------
Each 7. Sole Dispositive Power: 2,926,029
Reporting ------------------------------------------------
Person 8. Shared Dispositive Power: 0
- --------------------------------------------------------------------------------
9. Aggregate Amount Beneficially Owned by Each Reporting Person
2,926,029
- --------------------------------------------------------------------------------
10. Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares
[_]
- --------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row (9) 5.0%
- --------------------------------------------------------------------------------
12. Type of Reporting Person PN
- --------------------------------------------------------------------------------
CUSIP NO. 928551100 Schedule 13G Page 4 of 15
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1. Name of Reporting Person: Aisling Capital Partners LLC
I.R.S. Identification
No. of Above Person
- --------------------------------------------------------------------------------
2. Check the Appropriate Box (a) [_]
if a Member of a Group (b) [X]
- --------------------------------------------------------------------------------
3. SEC Use Only
- --------------------------------------------------------------------------------
4. Citizenship or Place of Organization Delaware
- --------------------------------------------------------------------------------
Number of 5. Sole Voting Power: 2,926,029
Shares ------------------------------------------------
Beneficially 6. Shared Voting Power: 0
Owned By ------------------------------------------------
Each 7. Sole Dispositive Power: 2,926,029
Reporting ------------------------------------------------
Person 8. Shared Dispositive Power: 0
- --------------------------------------------------------------------------------
9. Aggregate Amount Beneficially Owned by Each Reporting Person
2,926,029
- --------------------------------------------------------------------------------
10. Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares
[_]
- --------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row (9) 5.0%
- --------------------------------------------------------------------------------
12. Type of Reporting Person OO
- --------------------------------------------------------------------------------
CUSIP NO. 928551100 Schedule 13G Page 5 of 15
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1. Name of Reporting Person: Steve Elms
I.R.S. Identification
No. of Above Person
- --------------------------------------------------------------------------------
2. Check the Appropriate Box (a) [_]
if a Member of a Group (b) [X]
- --------------------------------------------------------------------------------
3. SEC Use Only
- --------------------------------------------------------------------------------
4. Citizenship or Place of Organization United States
- --------------------------------------------------------------------------------
Number of 5. Sole Voting Power: 0
Shares ------------------------------------------------
Beneficially 6. Shared Voting Power: 2,926,029
Owned By ------------------------------------------------
Each 7. Sole Dispositive Power: 0
Reporting ------------------------------------------------
Person 8. Shared Dispositive Power: 2,926,029
- --------------------------------------------------------------------------------
9. Aggregate Amount Beneficially Owned by Each Reporting Person
2,926,029
- --------------------------------------------------------------------------------
10. Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares
[_]
- --------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row (9) 5.0%
- --------------------------------------------------------------------------------
12. Type of Reporting Person IN
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CUSIP NO. 928551100 Schedule 13G Page 6 of 15
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1. Name of Reporting Person: Dennis Purcell
I.R.S. Identification
No. of Above Person
- --------------------------------------------------------------------------------
2. Check the Appropriate Box (a) [_]
if a Member of a Group (b) [X]
- --------------------------------------------------------------------------------
3. SEC Use Only
- --------------------------------------------------------------------------------
4. Citizenship or Place of Organization United States
- --------------------------------------------------------------------------------
Number of 5. Sole Voting Power: 0
Shares ------------------------------------------------
Beneficially 6. Shared Voting Power: 2,926,029
Owned By ------------------------------------------------
Each 7. Sole Dispositive Power: 0
Reporting ------------------------------------------------
Person 8. Shared Dispositive Power: 2,926,029
- --------------------------------------------------------------------------------
9. Aggregate Amount Beneficially Owned by Each Reporting Person
2,926,029
- --------------------------------------------------------------------------------
10. Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares
[_]
- --------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row (9) 5.0%
- --------------------------------------------------------------------------------
12. Type of Reporting Person IN
- --------------------------------------------------------------------------------
CUSIP NO. 928551100 Schedule 13G Page 7 of 15
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1. Name of Reporting Person: Andrew Schiff
I.R.S. Identification
No. of Above Person
- --------------------------------------------------------------------------------
2. Check the Appropriate Box (a) [_]
if a Member of a Group (b) [X]
- --------------------------------------------------------------------------------
3. SEC Use Only
- --------------------------------------------------------------------------------
4. Citizenship or Place of Organization United States
- --------------------------------------------------------------------------------
Number of 5. Sole Voting Power: 0
Shares ------------------------------------------------
Beneficially 6. Shared Voting Power: 2,926,029
Owned By ------------------------------------------------
Each 7. Sole Dispositive Power: 0
Reporting ------------------------------------------------
Person 8. Shared Dispositive Power: 2,926,029
- --------------------------------------------------------------------------------
9. Aggregate Amount Beneficially Owned by Each Reporting Person
2,926,029
- --------------------------------------------------------------------------------
10. Check Box if the Aggregate Amount in Row (9) Excludes Certain Shares
[_]
- --------------------------------------------------------------------------------
11. Percent of Class Represented by Amount in Row (9) 5.0%
- --------------------------------------------------------------------------------
12. Type of Reporting Person IN
- --------------------------------------------------------------------------------
CUSIP NO. 928551100 Schedule 13G Page 8 of 15
Item 1. (a) NAME OF ISSUER
Vivus, Inc. (the "Company").
(b) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES
1172 Castro Street
Mountain View, CA 94040
Item 2. (a) NAMES OF PERSONS FILING
This Statement is being filed on behalf of each of the
following persons (collectively, the "Reporting Persons")
(i) Aisling Capital II, LP, a Delaware limited partnership
("Aisling");
(ii) Aisling Capital Partners, LP, a Delaware limited
partnership ("Aisling Partners" and general partner of
Aisling);
(iii) Aisling Capital Partners LLC, a Delaware limited
liability company ("Aisling Partners GP" and general
partner of Aisling Partners);
(iv) Mr. Steve Elms ("Mr. Elms" and a managing member of
Aisling Partners GP);
(v) Mr. Dennis Purcell ("Mr. Purcell" and a managing member
of Aisling Partners GP); and
(vi) Mr. Andrew Schiff ("Mr. Schiff" and a managing member
of Aisling Partners GP).
(b) ADDRESS OF PRINCIPAL BUSINESS OFFICE
The address of the principal business offices of each of the
Reporting Persons is 888 Seventh Avenue, 30th Floor, New York,
NY 10106.
(c) CITIZENSHIP
(i) Aisling - a Delaware limited partnership
(ii) Aisling Partners - a Delaware limited partnership
(iii) Aisling Partners GP - a Delaware limited liability
company
(iv) Mr. Elms - United States
(v) Mr. Purcell - United States
(vi) Mr. Schiff - United States
CUSIP NO. 928551100 Schedule 13G Page 9 of 15
(d) TITLE OF CLASS OF SECURITIES
Common Stock, par value $0.001 per share (the "Common Stock" or
"Shares")
(e) CUSIP NUMBER
928551100
Item 3. This statement is not being filed pursuant to either Rule 13d-1(b) or
13d-2(b) or (c).
Item 4. OWNERSHIP.
(a) AMOUNT BENEFICIALLY OWNED:
Each of the Reporting Persons may be deemed to beneficially own
an aggregate of 2,926,029 Shares.
(b) PERCENTAGE OWNED:
Based on calculations made in accordance with Rule 13d-3(d),
and there being 58,359,629 Shares outstanding as of April 25,
2007 each of the Reporting Persons may be deemed to
beneficially own approximately 5.0% of the outstanding Common
Stock.
(c) NUMBER OF SHARES AS TO WHICH SUCH PERSON HAS:
(i) Each of Aisling, Aisling Partners and Aisling Partners GP
may be deemed to have sole power to direct the voting and
disposition of the 2,926,029 Shares beneficially owned by
Aisling.
(ii) By virtue of the relationships between and among the
Reporting Persons as described in Item 2, each of Mr. Elms, Mr.
Purcell, and Mr. Schiff, may be deemed to share the power to
direct the voting and disposition of the 2,926,029 Shares
beneficially owned by Aisling.
Item 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS
Not applicable.
CUSIP NO. 928551100 Schedule 13G Page 10 of 15
Item 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON
The partners of Aisling have the right to participate in the receipt
of dividends from, or proceeds from the sale of, the Shares held for
the account of Aisling in accordance with their ownership interests
in Aisling.
Item 7. IDENTIFICATION AND CLASSIFICATION OF 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
(b) The following certification shall be included if the statement is
filed pursuant to ss.240.13d-1(c):
By signing below we certify that, to the best of our 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.
[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]
CUSIP NO. 928551100 Schedule 13G Page 11 of 15
SIGNATURES
After reasonable inquiry and to the best of our knowledge and belief,
the undersigned certify that the information set forth in this statement is
true, complete and correct.
Dated as of July 30, 2007
AISLING CAPITAL II, LP
By: Aisling Capital Partners, LP
General Partner
By: Aisling Capital Partners LLC
Managing Member
By: /s/ Dennis Purcell
-----------------------------------------
Name: Dennis Purcell
Title: Senior Managing Director
AISLING CAPITAL PARTNERS, LP
By: Aisling Capital Partners LLC
Managing Member
By: /s/ Dennis Purcell
-----------------------------------------
Name: Dennis Purcell
Title: Senior Managing Director
AISLING CAPITAL PARTNERS LLC
By: /s/ Dennis Purcell
-----------------------------------------
Name: Dennis Purcell
Title: Senior Managing Director
CUSIP NO. 928551100 Schedule 13G Page 12 of 15
/s/ Steve Elms
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Steve Elms
/s/ Dennis Purcell
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Dennis Purcell
/s/ Andrew Schiff
--------------------------------------------
Andrew Schiff
CUSIP NO. 928551100 Schedule 13G Page 13 of 15
EXHIBIT INDEX
Exhibit 1. Joint Filing Agreement as required by Rule 13d-1(k)(1) under
the Securities Exchange Act of 1934, as amended.
CUSIP NO. 928551100 Schedule 13G Page 14 of 15
EXHIBIT 1
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JOINT FILING AGREEMENT PURSUANT TO RULE 13d-1(k)(1)
The undersigned acknowledge and agree that the foregoing statement on
Schedule 13G is filed on behalf of each of the undersigned and that all
subsequent amendments to this statement on Schedule 13G shall be filed on
behalf of each of the undersigned without the necessity of filing additional
joint filing statements. The undersigned acknowledge that each shall be
responsible for the timely filing of such amendments, and for the completeness
and accuracy of the information concerning him, her or it contained herein, but
shall not be responsible for the completeness and accuracy of the information
concerning the other entities or persons, except to the extent that he, she or
it knows or has reason to believe that such information is inaccurate.
Dated as of July 30, 2007
AISLING CAPITAL II, LP
By: Aisling Capital Partners, LP
General Partner
By: Aisling Capital Partners LLC
Managing Member
By: /s/ Dennis Purcell
-----------------------------------------
Name: Dennis Purcell
Title: Senior Managing Director
AISLING CAPITAL PARTNERS, LP
By: Aisling Capital Partners LLC
Managing Member
By: /s/ Dennis Purcell
-----------------------------------------
Name: Dennis Purcell
Title: Senior Managing Director
CUSIP NO. 928551100 Schedule 13G Page 15 of 15
AISLING CAPITAL PARTNERS LLC
By: /s/ Dennis Purcell
-----------------------------------------
Name: Dennis Purcell
Title: Senior Managing Director
/s/ Steve Elms
--------------------------------------------
Steve Elms
/s/ Dennis Purcell
--------------------------------------------
Dennis Purcell
/s/ Andrew Schiff
--------------------------------------------
Andrew Schiff