+--------+
| FORM 3 | U.S. SECURITIES AND EXCHANGE COMMISSION
+--------+ WASHINGTON, D.C. 20549
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
(Print or Type Responses)
--------------------------------------------------------------------------------
1. Name and Address of Reporting Person*
SCP Private Equity Partners II, L.P.
----------------------------------------------------------------------------
(Last) (First) (Middle)
435 Devon Park Drive, Building 300
----------------------------------------------------------------------------
(Street)
Wayne, PA 19087
----------------------------------------------------------------------------
(City) (State) (Zip)
2. Date of Event Requiring Statement (Month/Day/Year) 02/16/01
--------------
3. IRS Identification Number of Reporting Person if an Entity
(Voluntary)
--------------
4. Issuer Name and Ticker or Trading Symbol Breakaway Solutions, Inc. (BWAY)
-----------------------------------
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)
___ Director ___ Officer X 10% Owner ___ Other
(give title below) (specify below)
----------------------------------------------------------------------------
6. If Amendment, Date of Original (Month/Day/Year)
----------------------------
7. Individual or Joint Group Filing (Check Applicable Line)
____ Form Filed by One Reporting Person
X Form filed by More than One Reporting Person
TABLE I--NON-DERIVATIVE SECURITIES BENEFICIALLY OWNED
--------------------------------------------------------------------------------
1. Title 2. Amount of 3. Ownership Form: 4. Nature of
of Securities Bene- Direct (D) or Indirect Bene-
Security ficially Owned Indirect (I) ficial Ownership
(Instr. 4) (Instr. 4) (Instr. 5) (Instr. 5)
--------------------------------------------------------------------------------
None
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
TABLE II--DERIVATIVE SECURITIES BENEFICIALLY OWNED
(e.g., puts, calls, warrants, options, convertible securities)
------------------------------------------------------------------------------------------------------------------------------------
1. Title of Derivative 2. Date Exer- 3. Title and Amount of Securities 4. Conversion 5. Ownership 6. Nature of In-
Security (Instr. 4) cisable and Underlying Derivative Security or Form of direct Bene-
Expiration (Instr. 4) Exercise Derivative ficial
Date Price Security: Ownership
(Month/Day/ of Direct (D) (Instr. 5)
Year) Derivative or In-
---------------------------------------------------- Security direct (I)
Date Expira- Amount or (Instr. 5)
Exer- tion Title Number of
cisable Date Shares
------------------------------------------------------------------------------------------------------------------------------------
Warrants to Purchase Presently 1/11/06 Common Stock 6,491,631 (FN1) (FN1) (FN1)
Common Stock (FN1) (FN1)
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
------------------------------------------------------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------------------------------------------------
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
Explanation of Responses:
(FN1) On February 16, 2001 the Issuer issued to SCP Private Equity Partners II,
L.P. ("SCP") warrants to purchase up to 6,491,631 shares of the Issuer's Common
Stock at a per share exercise price of $0.6875, such shares and exercise price
subject to adjustment in certain events the "Loan Warrants". The Issuer issued
the Loan Warrants in connection with the agreements it entered into on that date
with respect to a secured financing with SCP. For purposes of Section 16
reporting, SCP is deemed to beneficially own derivative securities of the Issuer
disclosed herein, notwithstanding the fact that SCP has not yet exercised its
right to purchase the Common Stock under the Loan Warrants. Similarly, SCP
Private Equity II, LLC (the "Manager") is deemed to beneficially own these same
derivative securities of the Issuer disclosed herein because of a contractual
agreement with SCP which grants the Manager the power to make voting and
investment decisions regarding the securities held by SCP. Accordingly, the
derivative securities of the Issuer disclosed herein are owned directly by SCP
and indirectly by the Manager.
By: /s/ Wayne B. Weisman February 26, 2001
------------------------------- -----------------
**Signature of Reporting Person Date
Name: Wayne B. Weisman
Title: A Manager of SCP Private Equity II,
LLC, the Manager of SCP Private
Equity II General Partner, L.P.,
the General Partner of the
Reporting Person
* If the form is filed by more than one reported person, see Instruction
5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal
Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space is insufficient, See Instruction 6 for procedure.
Joint Filer Information
Name: SCP Private Equity II, LLC
Address: 435 Devon Park Drive, Building 300
Wayne, Pennsylvania 19087
Designated Filer: SCP Private Equity Partners II, L.P.
Issuer & Ticker Symbol: Breakaway Solutions, Inc. (BWAY)
Date of Event Requiring Statement: February 16, 2001
Signature: By: /s/ Wayne B. Weisman
---------------------------------
Name: Wayne B. Weisman
---------------------------------
Title: Manager
---------------------------------
Page 3 of 3 Pages