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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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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
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1. Name and Address of Reporting Person*
Dreadner Kleinwort Benson Private Equity Partners LP
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(Last) (First) (Middle)
75 Wall Street
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(Street)
New York, NY 10005
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(City) (State) (Zip)
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2. Date of Event Requiring Statement (Month/Day/Year)
3/31/98
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3. Issuer Name and Ticker or Trading Symbol
CardioTech International, Inc. (CTE)
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4. IRS or Social Security Number of Reporting Person (Voluntary)
13-3949246
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5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
[ X ] Director [ X ] 10% Owner
[ ] Officer (give title below) [ ] Other (specify 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)
[ X ] Form Filed by One Reporting Person
[ ] Form Filed by More than One Reporting Person
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Table I -- Non-Derivative Securities Beneficially Owned
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<TABLE>
<CAPTION>
3. Ownership Form:
2. Amount of Securities Direct (D) or
1. Title of Security Beneficially Owned Indirect (I) 4. Nature of Indirect Beneficial Ownership
(Instr. 4) (Instr. 4) (Instr. 5) (Instr.5)
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<S> <C> <C> <C>
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* If the Form is filed by more than one Reporting Person, see Instruction
5(b)(v)
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
(Over)
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FORM 3 (continued)
Table II -- Derivative Securities Beneficially Owned
(e.g., puts, call, warrants, options, convertible securities)
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<TABLE>
<CAPTION>
5. Owner-
3. Title and Amount of Securities ship
Underlying Derivative Security Form of
2. Date Exercisable (Instr. 4) Derivative
and Expiration Date --------------------------------- 4. Conver- Security:
(Month/Day/Year) Amount sion or Direct 6. Nature of
---------------------- or Exercise (D) or Indirect
Date Expira- Number Price of Indirect Beneficial
1. Title of Derivative Exer- tion of Derivative (I) Ownership
Security (Instr. 4) cisable Date Title Shares Security (Instr.5) (Instr. 5)
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<S> <C> <C> <C> <C> <C> <C> <C>
7% Convertible
Senior Note 3/31/98 3/30/83 Common Stock 832,080 $1.995 (D)
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Explanation of Responses: Conversion Price of Note is subject to adjustment (i)
in the event of a stock dividend, subdivision or combination of shares of the
Issuer's stock, (ii) in the event of an issuance of additional shares of Common
Stock, stock purchase rights or convertible securities, or (iii) in the event
of a reorganization, classification or recapitalization of the Issuer.
/s/ Johnathan Walker April 10, 1998
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**Signature of Reporting Person Date
** 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.
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