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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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UNITED STATES 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
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1. Name and Address of Reporting Person*
Peter K. Hilal, MD
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(Last) (First) (Middle)
c/o Hilal Capital Management LLC
60 East 42nd Street, Suite 1946
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(Street)
New York New York 10165
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(City) (State) (Zip)
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2. Date of Event Requiring Statement (Month/Day/Year)
07/15/99
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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
Visible Genetics Inc. (VGIN)
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<PAGE>
FORM 3 (continued)
5. Relationship of Reporting Person to Issuer (Check all applicable)
[ ] Director
[ ] 10% Owner
[ ] Officer (give title below)
[X] Other (Specify below)
May be deemed a member of a group owning more than 10% of Issuer's Common
Stock
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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)
[x] Form filed by One Reporting Person
[ ] Form filed by More than One Reporting Person
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<TABLE>
<CAPTION>
TABLE I--NON-DERIVATIVE SECURITIES BENEFICIALLY OWNED
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1. Title of Security 2. Amount of 3. Ownership 4. Nature of Indirect
(Instr. 4) Securities Form: Beneficial
Beneficially Direct (D) Ownership
Owned or Indirect (Instr. 5)
(Instr. 4) (I) (Instr. 5)
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<S> <C> <C> <C>
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Common Stock 14,458 I See Note 1
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Common Stock 47,979 I See Note 1
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Common Stock 340,363 I See Note 1
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Common Stock 304,949 I See Note 4
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Common Stock 52,950 I See Note 4
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</TABLE>
* If the Form is filed by more than one Reporting Person,
SEE instruction 5(b)(v).
<PAGE>
FORM 3 (continued)
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
(Print or Type Responses)
(Over)
SEC 1473 (7-96)
<TABLE>
<CAPTION>
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 Exercisable and 3. Title and Amount
(Instr. 4) Expiration Date of Securities
(Month/Day/Year) Underlying
----------------------- Derivative
Date Expiration Security
Exercisable Date (Instr. 4)
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Title Amount or
Number of
Shares
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<S> <C> <C> <C> <C>
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Warrants Anytime 07/08/2003 Common Stock 21,285
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Warrants Anytime 07/08/2003 Common Stock 54,088
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Warrants Anytime 07/08/2003 Common Stock 71,725
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Warrants Anytime 04/30/2003 Common Stock 28,813
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Warrants Anytime 09/29/2003 Common Stock 17,400
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Warrants Anytime 04/29/2006 Common Stock 11,284
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Warrants Anytime 04/30/2003 Common Stock 72,728
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Warrants Anytime 09/29/2003 Common Stock 42,960
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Warrants Anytime 04/29/2006 Common Stock 28,683
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Warrants Anytime 04/30/2003 Common Stock 96,459
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Warrants Anytime 09/29/2003 Common Stock 59,640
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<PAGE>
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 Exercisable and 3. Title and Amount
(Instr. 4) Expiration Date of Securities
(Month/Day/Year) Underlying
----------------------- Derivative
Date Expiration Security
Exercisable Date (Instr. 4)
--------------------
Title Amount or
Number of
Shares
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<S> <C> <C> <C> <C>
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Warrants Anytime 04/29/2006 Common Stock 38,033
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Preferred Stock Anytime N/A Common Stock 51,919
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Preferred Stock Anytime N/A Common Stock 131,970
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Preferred Stock Anytime N/A Common Stock 174,990
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4. Conversion or 5. Ownership Form of 6. Nature of Indirect
Exercise Price Derivative Security: Beneficial Ownership
of Derivative Direct (D) or (Instr. 5)
Security Indirect (I) (Instr. 5)
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<C> <C> <C>
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$12.60 I See Note 2
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$12.60 I See Note 2
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$12.60 I See Note 2
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$10.00 I See Note 2
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$10.00 I See Note 2
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<PAGE>
FORM 3 (continued)
4. Conversion or 5. Ownership Form of 6. Nature of Indirect
Exercise Price Derivative Security: Beneficial Ownership
of Derivative Direct (D) or (Instr. 5)
Security Indirect (I) (Instr. 5)
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<C> <C> <C>
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$17.00 I See Note 2
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$10.00 I See Note 2
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$10.00 I See Note 2
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$17.00 I See Note 2
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$10.00 I See Note 2
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$10.00 I See Note 2
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$17.00 I See Note 2
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$11.00 I See Note 3
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$11.00 I See Note 3
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$11.00 I See Note 3
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**Intentional misstatements or omissions of facts constitute Federal
Criminal Violations. SEE 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Explanation of Responses:
Note 1 The securities to which this note relates are held directly by Hilal
Capital LP ("HCLP") (14,458 shares), Hilal Capital QP, LP ("HCQP") (47,979
shares), or are held indirectly through Hilal Capital Management LLC ("HCM")
(340,363 shares) on behalf of an offshore managed account or an offshore
company managed by it. The undersigned is the managing member to the general
partner of HCQP and HCLP; and is the managing member of HCM. In accordance
with Instruction 5(b)(iv), the entire amount of the issuer's securities held by
HCLP, HCQP and HCM is reported herein. The undersigned disclaims any
beneficial ownership of any of the Issuer's securities to which this note
relates for purposes of Section 16 of the Securities Exchange Act of 1934, as
amended, except as to securities representing the undersigned's pro rata
partnership interest in, and interests in the profits of HCQP, HCLP and HCM.
</TABLE>
<PAGE>
FORM 3 (continued)
Note 2 The warrants to which this note relates are held directly by HCLP
(78,782 warrants), HCQP (198,459 warrants), or are held indirectly through HCM
(265,857 warrants) on behalf of an offshore managed account or an offshore
company managed by it. In accordance with Instruction 5(b)(iv), the entire
amount of the issuer's warrants held by HCLP, HCQP and HCM is reported herein.
The undersigned disclaims any beneficial ownership of any of the Issuer's
warrants to which this Form relates for purposes of Section 16 of the
Securities Exchange Act of 1934, as amended, except as to shares representing
the undersigned's pro rata partnership interest in, and interests in the
profits of HCQP, HCLP and HCM.
Note 3 The preferred stock to which this note relates are held directly by
HCLP (571 shares, convertible into 51,919 shares of Common Stock); HCQP (1452
shares, convertible into 131,970 shares of Common Stock) or are held indirectly
through HCM (1925 shares, convertible into 174,990 shares of Common Stock) on
behalf of an offshore managed account or an offshore company managed by it. In
accordance with Instruction 5(b)(iv), the entire amount of the Issuer's
preferred stock held by HCLP, HCQP and HCM is reported herein. The undersigned
disclaims any beneficial ownership of any of the Issuer's preferred stock to
which this Form relates for purposes of Section 16 of the Securities Exchange
Act of 1934, as amended, except as to shares representing the undersigned's pro
rata partnership interest in, and interest in the profits of, HCLP, HCQP and
HCM.
Note 4 The securities to which this note relates are held by managed accounts
over which Dr. Hilal has dispositive power. In accordance with Instruction
5(b)(ii), the entire amount of the Issuer's securities held by Dr. Hilal or
managed accounts over which he has discretionary power is reported herein.
FORM 3 (continued)
Note: File three copies of this Form, one of which must be manually signed.
If space is insufficient, SEE Instruction 6 for procedure.
DATED: 07/26/99
Peter K. Hilal, MD
/s/Peter K. Hilal
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Peter K. Hilal, MD
Managing Member
Date: July 26, 1999
