UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
(Rule 13d-101)
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
MAXIM PHARMACEUTICALS, INC.
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(Name of Issuer)
Common Stock, $.001 Par Value
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(Title of Class of Securities)
57772MI07
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(CUSIP Number)
Todd J. Emmerman, Esq., c/o Rosenman & Colin LLP, 575 Madison Avenue,
New York, New York 10022
(212) 940-8873
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(Name, Address and Telephone Number of Person Authorized to Receive Notices)
July 10, 1998
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(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to
report the acquisition which is the subject of this Schedule 13D, and is filing
this schedule because of Rule 13d-1(b)(3) or (4), check the following box |_|.
Note: Six copies of this statement, including all exhibits, should be filed
with the Commission. See Rule 13d-1(a) for other parties to whom copies are to
be sent.
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* 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 1 of 5
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SCHEDULE 13D
CUSIP No. 57772MI07 Page of Pages
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1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Clearwater Fund IV, LLC
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2 Check the Appropriate Box If a Member of a Group
a. |X|
b. |_|
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3 SEC Use Only
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4 Source of Funds
WC
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5 Check Box If Disclosure of Legal Proceedings Is Required Pursuant to Items
2(d) or 2(e) |_|
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6 Citizenship or Place of Organization
Delaware
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7 Sole Voting Power
Number of
Shares 332,000 Shares
Beneficially --------------------------------------------------------
Owned By 8 Shared Voting Power
Each
Reporting 0
Person --------------------------------------------------------
With 9 Sole Dispositive Power
332,000 Shares
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10 Shared Dispositive Power
0
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11 Aggregate Amount Beneficially Owned by Each Reporting Person
332,000 Shares
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12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares |_|
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13 Percent of Class Represented By Amount in Row (11)
3.25%
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14 Type of Reporting Person
OO
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SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 2 of 5
<PAGE>
SCHEDULE 13D
CUSIP No. 57772MI07 Page of Pages
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1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Clearwater Offshore Fund Ltd.
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2 Check the Appropriate Box If a Member of a Group
a. |X|
b. |_|
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3 SEC Use Only
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4 Source of Funds
WC
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5 Check Box If Disclosure of Legal Proceedings Is Required Pursuant to Items
2(d) or 2(e) |_|
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6 Citizenship or Place of Organization
Bahamas
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7 Sole Voting Power
Number of
Shares 0
Beneficially --------------------------------------------------------
Owned By 8 Shared Voting Power
Each
Reporting 0
Person --------------------------------------------------------
With 9 Sole Dispositive Power
0
--------------------------------------------------------
10 Shared Dispositive Power
0
--------------------------------------------------------
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11 Aggregate Amount Beneficially Owned by Each Reporting Person
0
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12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares |_|
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13 Percent of Class Represented By Amount in Row (11)
0%
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14 Type of Reporting Person
CO
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SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 3 of 5
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This Amendment No. 1 is being filed pursuant to Rule 13-d(2)
promulgated under the Exchange Act of 1934 (the "Exchange Act") and
amends the Schedule 13D previously filed by the Reporting Persons as
of April 22, 1998. Terms not otherwise defined herein shall have the
meaning ascribed to them in the Schedule 13D.
Item 5. Interest in Securities of the Issuer.
Item 5 is hereby amended and restated to read as follows:
(a)-(b)
Clearwater LLC beneficially owns 322,000 shares of the Company's
Common Stock (comprising approximately 3.25% of the outstanding
Common Stock of the Company, based on information contained in the
Company's Report on Form 10-Q filed as of August 13, 1999).
Clearwater LLC has the sole power to vote and dispose of all such
shares.
(c) Between July 8, 1998 and January 19, 1999, Clearwater Offshore
sold an aggregate of 200,183 shares of the Company's Common Stock in
open market transactions at prices ranging between $14.0850 and
$20.0335 per share.
Between January 20, 1999 and July 16, 1999, Clearwater LLC
sold an aggregate of 497,000 shares of the Company's Common Stock in
open market transactions at prices ranging between $9.46 and $14.67
per share.
(d) Not applicable.
(e) Clearwater Offshore no longer beneficially owns any shares of
the Company's Common Stock. On January 19, 1999, Clearwater Offshore
ceased to be the beneficial owner of more than five percent of the
Company's Common Stock.
On June 30, 1999 Clearwater IV ceased to be the beneficial
owner of more than five percent of the Company's Common Stock.
Page 4 of 5
<PAGE>
SIGNATURE
After reasonable inquiry, and to the best of our knowledge and
belief, the undersigned certifies that the information set forth in
this statement is true, complete and correct.
Dated: September 13, 1999
CLEARWATER FUND IV, LLC
/s/ Hans Frederic Heye
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By: Hans Frederic Heye
Title: Managing Member
CLEARWATER OFFSHORE FUND LTD.
By: Manning Consultant Ltd., Director
By: Falkirk, S.A., its attorney-in-fact
/s/ Carol Goodwin
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By: Carol Goodwin
Title: Director
Page 5 of 5
