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U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 3 OMB APPROVAL
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OMB Number: 3235-0104
Expires: September 30, 1998
Estimated average burden
hours per response ...... 0.5
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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)
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1. Name and Address of Reporting Person*
KINGDON CAPITAL MANAGEMENT CORP.
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(Last) (First) (Middle)
152 West 57th Street
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(Street)
New York NY 10019
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(City) (State) (Zip)
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2. Date of Event Requiring Statement (Month/Day/Year)
10/22/96
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3. IRS or Social Security Number of Reporting Person (Voluntary)
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4. Issuer Name and Ticker or Trading Symbol
ALYN CORPORATION; "ALYN"
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5. Relationship of Reporting Person to Issuer
(Check all applicable)
Director X 10% Owner
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Officer (give Other (specify
----- title below) ------ below)
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6. If Amendment, Date of Original (Month/Day/Year)
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7. Individual or Joint/Group Filing
(Check Applicable Line)
Form filed by One Reporting Person
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X Form filed by More than One Reporting Person
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<TABLE>
<CAPTION>
Table 1 -- Non-Derivative Securities Beneficially Owned
1. Title of Security 2. Amount of Securities 3. Ownership Form: 4. Nature of Indirect Beneficial Ownership
(Instr. 4) Beneficially Owned Direct (D) or (Instr. 5)
(Instr. 4) Indirect (I)
(Instr. 5)
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<S> <C> <C> <C>
Common Stock, $.001 par value 1,246,400 I By M. Kingdon Offshore NV*
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Common Stock, $.001 par value 420,800 I By Kingdon Associates, L.P.*
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Common Stock, $.001 par value 80,000 I By Kingdon Partners, L.P.*
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</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
*If the form is filed by more than one reporting person, see Instruction 5(b)(v)
(Over)
Page 1 of 4 SEC 1473 (7-96)
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<TABLE>
<CAPTION>
FORM 3 (continued) Table II -- Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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1. Title of Derivative Security 2. Date Exer- 3. Title and Amount of Securities 4. Conversion 5. Ownership 6. Nature of
(Instr. 4) cisable and Underlying Derivative Security or Price of Form of Indirect
Expiration (Instr. 4) Derivative Derivative Beneficial
Date Security Security: Ownership
(Mont/Day/ Direct (D) (Instr. 5)
Year) or
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Date Expira- Amount (Instr. 5)
Exer- tion or
cisable date Title Number
of
Shares
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<S> <C> <C> <C> <C> <C> <C> <C>
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</TABLE>
Explanation of Responses:
* Reporting Person has voting or investment control over shares held by these
entities.
**Intentional misstatements or omissions of facts constitute Federal Criminal
Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Kingdon Capital Management Corp.
/s/ Peter Cobos 10/22/96
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**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.
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 valid OMB
Number.
Page 2 of 4
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Signature Page for Other Reporting Persons
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M. KINGDON OFFSHORE NV
By: Kingdon Capital Management
Corp., as its Investment Advisor
By /s/ Peter Cobos
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Name: Peter Cobos
KINGDON ASSOCIATES, L.P.
By: Peter Cobos, a General Partner
/s/ Peter Cobos
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Peter Cobos
KINGDON PARTNERS, L.P.
By: Peter Cobos, a General Partner
/s/ Peter Cobos
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Peter Cobos
Page 3 of 4
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Designated Filer
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Kingdon Capital Management Corp.
Date of Event Requiring Statement--10/22/96
Issuer Name - Alyn Corporation
Trading Symbol - "ALYN"
Other Reporting Persons
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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
