U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
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
/ / Check this box if OMB APPROVAL
no longer subject ------------
to Section 16. OMB Number 3235-0287
Form 4 or Form 5 Expires: September 30, 1998
obligations may continue. Estimated average burden
See Instruction 1(b). 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. Issuer Name and Ticker or Trade Symbol
Alyn Corporation; "ALYN"
3. IRS or Social Security Number of Reporting Person
(Voluntary)
4. Statement for Month/Year
10/96
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person to Issuer
(Check all applicable)
__ Director X 10% Owner
__ Officer (give title below) __ Other (specify below)
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7. Individual or Joint/Group Filing (Check Applicable Line)
__ Form filed by One Reporting Person
X Form filed by More than One Reporting Person
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<TABLE>
TABLE I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
<CAPTION>
1. Title of Security 2. Trans- 3. Transaction 4. Securities Acquired (A) 5. Amount of 6. Ownership 7. Nature
(Instr. 3) action Code or Disposed of (D) Securities Form: of Indirect
Date (Instr. 3, 4 and 5) Beneficially Direct (D) Beneficial
(Month/ (Instr.8) Owned at End or Indirect Ownership
Day/ of Month (I)
Year)
Code V Amount (A) or (D) Price (Instr. 3 and 4) (Instr. 4) (Instr. 4)
<C> <C> <C> <C> <C> <C> <C> <C> <C>
Common Stock, 10/22/96 P 240,000 A $13.50 1,486,400 I By M. Kingdon
$.001 par value Offshore NV*
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Common Stock, 10/22/96 P 80,000 A $13.50 500,800 I By Kingdon
$.001 par value Associates,
L.P.*
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Common Stock, 10/22/96 P 80,000 A $13.50 500,800 I By Kingdon
$.001 par value 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 4(b)(v). SEC 1474 (7-96)
</TABLE>
Page 1 of 4
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<TABLE>
FORM 4 (continued) Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., put, calls, warrants, options, convertible securities)
<CAPTION>
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1. Title of Derivative Security 2. Conver- 3. Trans- 4. Transac- 5. Number of Deriv- 6. Date Exer-
sion or action tion Code ative Securities cisable and
(Instr. 3) Exercise Date Acquired (A) or Expiration
Price of (Instr. 8) Disposed of (D) Date
Deriv- (Month/ (Month/Day/
ative Day/ (Instr. 3, 4, Year)
Security Year) and 5)
Date Expir-
Exer- ation
cisable Date
Code V (A) (D)
<C> <C> <C> <C> <C> <C>
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1. Title of Derivative Security 7. Title and Amount of 8. Price of 9. Number 10. Owner- 11. Nature of
Underlying Securities Derivative of Deriv- ship Form of Indirect
(Instr. 3) Security ative Derivative Beneficial
(Instr. 3 and 4) Securities Security: Ownership
(Instr. 5) Beneficially Direct (D) or
Owned at Indirect (I) (Instr. 4)
End of (Instr. 4)
Month
(Instr. 4)
Title Amount or
Number of
Shares
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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).
By: /s/ Peter Cobos 11/6/96
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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 currently valid OMB Number.
</TABLE>
Page 2 of 4
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Signature Page for Other Reporting Persons
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
C/M: 12156.0001 422079.1
<PAGE>
Designated Filer
Kingdon Capital Management Corp.
Statement For 10/96
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
C/M: 12156.0001 422079.1
