U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 3
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
OMB APPROVAL
------------
OMB Number 3235-0287
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. Estimated average burden
hours per response.....0.5
(Print or Type Responses
1. Name and Address of Reporting Person*
Kingdon Capital Management Corp.
(Last) (First) (Middle)
152 West 57th Street
(Street)
New York NY 10019
(City) (State) (Zip)
2. Date of Event Requiring Statement
(Month/Day/Year)
10/22/96
3. IRS or Social Security Number of Reporting Person
(Voluntary)
4. Issuer Name and Ticker or Trading Symbol
Alyn Corporation; "ALYN"
5. Relationship of Reporting Person to Issuer
(Check all applicable)
_______ Director X 10% Owner
_______ Officer (give title below) _______ Other
(specify below)
________________________
6. If Amendment, Date of Original (Month/Day/Year)
10/22/96
7. Individual or Joint/Group Filing
(Check Applicable Line)
__ Form filed by One Reporting Person
X Form filed by More than One Reporting Person
<PAGE>
<TABLE>
TABLE I - Non-Derivative Securities Beneficially Owned
<CAPTION>
1. Title of Security 2. Amount of 3. Ownership 4. Nature of
(Instr.4) Securities Form: Direct Indirect
Beneficially (D) or Beneficial
Owned Indirect (I) Ownership
(Instr.4) (Instr.5) (Instr.5)
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<C> <C> <C> <C>
Common Stock, $.001 par value 1,246,400 I By M. Kingdon Offshore NV*
- ------------------------------------------------------------------------------------------------------------
Common Stock, $.001 par value 420,800 I By Kingdon Associates, L.P.*
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Common Stock, $.001 par value 420,800 I By Kingdon Partners, L.P.*
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. (Over)
* If the form is filed by more than one reporting person, see Instruction 5(b)(v). SEC 1473 (7-96)
</TABLE>
Page 1 of 4
<PAGE>
<TABLE>
FORM 3 (continued) TABLE II - Derivative Securities Beneficially Owned (e.g., puts, calls,
warrants, options, convertible securities)
<CAPTION>
1. Title of 2. Date Exer- 3. Title and 4. Con- 5. Owner- 6. Na-
Deriva- cisable and Amount of Sec- version ship Form ture
tive Expiration urities Under- or Exer- of Deri- of In-
Security Date lying Deriva- cise vative direct
(Instr.4) (Month/Day/Year) tive Security Price of Security: Bene-
(Instr.4) Deri- Direct ficial
vative (D) or Owner-
Security Indirect ship
(I) (Instr
(Instr.5) .5)
---------------------------------------------------
Date Expir- Title Amount
Exer- ation Or
cis- Date Number
able of
Shares
- ---------------------------------------------------------------------------------------------------------------
<C> <C> <C> <C> <C> <C>
- ---------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------
- ---------------------------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------------------------
Explanation of Responses:
*Reporting Person has voting or investment control over shares held by these entities.
Kingdon Capital Management Corp.
By: /s/ Peter Cobos 11/6/96
------------------------------- -------------
**Signature of Reporting Person Date
Peter Cobos, Controller, on behalf of Kingdon
Capital Management Corp. and designated filer on behalf
of the Reporting Persons listed on the attached page.
** 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 provided is insufficient, see Instruction 6 for procedure.
Potential persons who are to respond to the collection of information contained in this form are not
required to respond unless the form displays a currently valid OMB Number.
</TABLE>
Page 2 of 4
<PAGE>
Signature Page for Other Reporting Persons
M. KINGDON OFFSHORE NV
By: Kingdon Capital Management
Corp., as its Investment Advisor
By: /s/ Peter Cobos
-------------------
Name: Peter Cobos
KINGDON ASSOCIATES, L.P.
By: Peter Cobos, a General Partner
/s/ Peter Cobos
- -------------------
Peter Cobos
KINGDON PARTNERS, L.P.
By: Peter Cobos, a General Partner
/s/ Peter Cobos
- -------------------
Peter Cobos
Page 3 of 4
Designated Filer
Kingdon Capital Management Corp.
Date of Event Requiring Statement - 10/22/96
Issuer Name - Alyn Corporation
Trading Symbol - "ALYN"
Other Reporting Persons
M. Kingdon Offshore NV
152 West 57th Street
New York, N.Y. 10019
Kingdon Associates, L.P.
152 West 57th Street
New York, N.Y. 10019
Kingdon Partners, L.P.
152 West 57th Street
New York, N.Y. 10019
Page 4 of 4
