SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
----------
SCHEDULE 13G
(Rule 13d-102)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULE 13d-1(b)(c), AND (d) AND AMENDMENTS THERETO FILED
PURSUANT TO RULE 13d-2(b)
(Amendment No. __)(1)
SIGA TECHNOLOGIES, INC.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, $.0001 par valuee
- --------------------------------------------------------------------------------
(Title of Class of Securities)
82 6917-10-6
- --------------------------------------------------------------------------------
(CUSIP Number)
February 1, 2000
- --------------------------------------------------------------------------------
(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)
- ----------
(1) 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 remainder 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).
<PAGE>
CUSIP No. 82 6917-10-6 SCHEDULE 13G Page 2 of 7 Pages
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Howard Gittis
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) |_|
(b) |X|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
- --------------------------------------------------------------------------------
5 SOLE VOTING POWER
465,739 (see Note A)
--------------------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY N/A
OWNED BY --------------------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON 465,739 (see Note A)
WITH --------------------------------------------------------------
8 SHARED DISPOSITIVE POWER
N/A
- --------------------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
465,739 (see Note A)
- --------------------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES
CERTAIN SHARES*
|_|
- --------------------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.6% (see Note A)
- --------------------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
ITEM 1 (a) NAME OF ISSUER
SIGA TECHNOLOGIES, INC.
(b) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES
420 Lexington Avenue,
Suite 620
New York, NY 10170.
ITEM 2 (a) NAME OF PERSON FILING
Howard Gittis
(b) ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE,
RESIDENCE
35 East 62nd Street,
New York, NY 10021
(c) CITIZENSHIP
USA
(d) TITLE OF CLASS OF SECURITIES
Common Stock, $.0001 par value
(e) CUSIP NUMBER
82 6917-10-6
<PAGE>
ITEM 3 If This Statement is Filed Pursuant to Rule 13d-1(b), or
13d-2(b) or (c), Check Whether the Person Filing is a:
(a) [ ] Broker or dealer registered under section 15 of the Act
(b) [ ] Bank as defined in section 3(a)(6) of the Act
(c) [ ] Insurance company as defined in section 3(a)(19) of the Act
(d) [ ] Investment company registered under section 8 of the
Investment Company Act of 1940
(e) [ ] An investment adviser in accordance with Rule
13d-1(b)(1)(ii)(E)
(f) [ ] An employee benefit plan or endowment fund in accordance with
Rule 13d-1(b)(1)(ii)(F)
(g) [ ] A parent holding company or control person in accordance with
Rule 13d-1(b)(1)(ii)(G)
(h) [ ] A savings association as defined in section 3(b) of the
Federal Deposit Insurance Act
(i) [ ] A church plan that is excluded from the definition of an
investment company under section 3(c)(14) of the Investment
Company Act of 1940
(j) [ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(J)
If this statement is filed pursuant to Rule 13d-1(c), check this box [x]
ITEM 4 OWNERSHIP
(a) Amount beneficially owned:
465,739 (see Note A)
(b) Percent of class:
6.6% (see Note A)
<PAGE>
(c) Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
465,739 (see Note A)
(ii) Shared power to vote or to direct the vote:
N/A
(iii) Sole power to dispose or to direct the disposition of:
465,739 (see Note A)
(iv) Shared power to dispose or to direct the disposition of:
N/A
ITEM 5 OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS
If this statement is being filed to report the fact that as of the date
hereof the reporting person has ceased to be the beneficial owner of
more than five percent of the class of securities, check the
following [ ]
ITEM 6 OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER
PERSON
N/A
ITEM 7 IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH
ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT
HOLDING COMPANY
N/A
ITEM 8 IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP
N/A
ITEM 9 NOTICE OF DISSOLUTION OF GROUP
N/A
ITEM 10 CERTIFICATION
By signing below I certify that, to the best of my knowledge and
belief, the securities referred to above were not acquired are
not being 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.
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
February 14, 2000
-------------------------
(Date)
s/Howard Gittis
-----------------------
(Signature)
Howard Gittis
-------------------------
(Name/Title)
<PAGE>
NOTE A
Based on information provided by the Issuer, there are currently outstanding
6,602,712 shares of the Common Stock of the Issuer.
Reporting Person currently owns no shares of the Common Stock of the Issuer.
Reporting Person holds $325,000 principal amount of the Issuer's 6% Convertible
Debenture Due January 31, 2002 (the "Maturity Date"). Under its terms, the
Debenture is generally convertible into shares of Common Stock of the Issuer,
where conversions are effected at a fixed conversion rate (the "Conversion
Price") equal to $1.4375 or 226,087 shares. If interest on the Debentures
through the first anniversary of the issuance (which is more than sixty days
from the date of this Schedule 13G) were paid (at the option of the Issuer) in
Common Stock based on the same Conversion Price, the Reporting Person would
receive an additional 13,565 shares of Common Stock.
In addition, the Reporting Person holds five year warrants to purchase 226,087
shares of Common Stock (the "Warrant") at an exercise price of $3.4059 per
share.
The Debenture and the Warrant, may not be convertible or exercisable into shares
of Common Stock of the Issuer by the holder, because Section 4(C) of the
Debenture and the terms of the Warrant restrict the rights of Reporting Person
to convert or exercise if, as a result of such conversion or exercise (but
without giving effect to shares issuable upon conversions or exercises not yet
submitted), the Reporting Person and its affiliates would have actual ownership
of more than 9.99% of the outstanding shares of the Common Stock of the Issuer
If all of the Debentures were currently fully convertible and converted, if the
interest on the entire principal of the Debentures through the first anniversary
of their issuance were paid in Common Stock at the same Conversion Price and if
the Warrant were fully exercised, the Reporting Person's total shares of Common
Stock would be 465,739 shares (6.6%).
The Reporting Person disclaims any beneficial interest in or voting rights in
the shares of Common Stock of the Issuer held by or issuable upon the exercise
of any conversion or other rights held by any other holder of shares or such
rights of the Issuer.
