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CUSIP NUMBER: 57772M107 PAGE 1 OF 9 PAGES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
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. _____)*
MAXIM PHARMACEUTICALS, INC.
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(Name of Issuer)
Common Stock, $.001 Par Value
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(Title of Class of Securities)
57772M107
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(CUSIP Number)
Gary S. Kaminsky
c/o Rose Glen Capital Management, L.P.
251 St. Asaphs Rd.
3 Bala Plaza - East
Bala Cynwyd, PA 19004
---------------------
(Name, Address and Telephone Number
of Person Authorized to Receive
Notices and Communications)
July 23, 1999
-------------
(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)
*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 the
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 or otherwise subject to the liabilities of that section of the Act but
shall be subject to all other provisions of the Act.
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CUSIP NUMBER: 57772M107 PAGE 2 OF 9 PAGES
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1) Names of Reporting Persons; S.S. or I.R.S. Identification
RGC International Investors, LDC
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2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a) N/A
(b) N/A
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3) SEC Use Only
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4) Citizenship or Place of Organization Cayman Islands
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Number of 5) Sole Voting Power 608,480 (1)
Shares --------------------------------------------
Beneficially
Owned by 6) Shared Voting Power
Each Reporting --------------------------------------------
Person With
7) Sole Dispositive Power 608,480 (1)
--------------------------------------------
8) Shared Dispositive Power
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9) Aggregate Amount Beneficially 608,480 (1)
Owned by Each Reporting Person
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10) Check if the Aggregate Amount in Row (9)
Excludes Certain Shares (See Instructions) N/A
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11) Percent of Class Represented by Amount in Row (9) 5.6%
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12) Type of Reporting Person (See Instructions) OO
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CUSIP NUMBER: 57772M107 PAGE 3 OF 9 PAGES
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1) Names of Reporting Persons; S.S. or I.R.S. Identification
Rose Glen Capital Management, L.P.
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2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a) N/A
(b) N/A
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3) SEC Use Only
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4) Citizenship or Place of Organization Delaware
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Number of 5) Sole Voting Power 608,480 (1)
Shares --------------------------------------------
Beneficially
Owned by 6) Shared Voting Power
Each Reporting
Person With --------------------------------------------
7) Sole Dispositive Power 608,480 (1)
--------------------------------------------
8) Shared Dispositive Power
- --------------------------------------------------------------------------------
9) Aggregate Amount Beneficially 608,480 (1)
Owned by Each Reporting Person
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10) Check if the Aggregate Amount in Row (9)
Excludes Certain Shares (See Instructions) N/A
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11) Percent of Class Represented by Amount in Row (9) 5.6%
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12) Type of Reporting Persons (See Instructions) PN
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CUSIP NUMBER: 57772M107 PAGE 4 OF 9 PAGES
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1) Names of Reporting Persons; S.S. or I.R.S. Identification
RGC General Partner Corp.
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2) Check the Appropriate Box if a Member of a Group (See Instructions)
(a) N/A
(b) N/A
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3) SEC Use Only
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4) Citizenship or Place of Organization Delaware
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Number of 5) Sole Voting Power 608,480 (1)
Shares --------------------------------------------
Beneficially
Owned by 6) Shared Voting Power
Each Reporting
Person With --------------------------------------------
7) Sole Dispositive Power 608,480 (1)
--------------------------------------------
8) Shared Dispositive Power
- --------------------------------------------------------------------------------
9) Aggregate Amount Beneficially 608,480 (1)
Owned by Each Reporting Person
- --------------------------------------------------------------------------------
10) Check if the Aggregate Amount in Row (9)
Excludes Certain Shares (See Instructions) N/A
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11) Percent of Class Represented by Amount in Row (9) 5.6%
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12) Type of Reporting Persons (See Instructions) CO
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CUSIP NUMBER: 57772M107 PAGE 5 OF 9 PAGES
FOOTNOTES TO COVER PAGE OF SCHEDULE 13G
1. This Schedule 13G is being filed on behalf of the following persons
(the "Filers"):
(1) RGC International Investors, LDC, a Cayman Islands limited
duration company ("RGC");
(2) Rose Glen Capital Management, L.P., a Delaware limited
partnership ("Rose Glen"); and
(3) RGC General Partner Corp., a Delaware corporation ("Partner").
Each of Rose Glen and Partner shall be collectively referred to as
the "RGC Affiliates."
RGC is a private investment fund. Rose Glen is the investment manager
of RGC and Partner is the general partner of Rose Glen. The Common
Stock to which this Schedule 13G relates is owned by RGC. The name,
residence or business address, principal occupation or employment and
citizenship of each of the executive officers of the RGC Affiliates are
set forth in the table on Schedule A hereto.
RGC is reporting that it owns, and Rose Glen as investment manager of
RGC and Partner as general partner of Rose Glen is reporting that they
beneficially own, 608,480 shares of Common Stock or approximately 5.6%
of the outstanding shares of the Issuer. The total number of shares of
Common Stock the Filers are reporting as being beneficially owned by
them consists of 308,480 shares of Common Stock currently issuable
within 60 days of the date hereof upon conversion of 30,848 shares of
Series A Convertible Preferred Stock (the "Conversion Shares") issued
on July 23, 1999 pursuant to that certain Series A Convertible
Preferred Stock and Warrant Purchase Agreement dated as of July 20,
1999 among the Issuer and certain investors named therein (the
"Securities Purchase Agreement") and 300,000 shares of Common Stock
currently issuable within 60 days of the date hereof upon exercise of
Common Stock Purchase Warrants issued on July 20, 1999 pursuant to the
Securities Purchase Agreement (the "Warrants"). The Warrants are
exercisable at an exercise price of $10.50 and expire on July 20, 2004.
The Conversion Shares are convertible at an initial conversion price of
$9.725. Thereafter the conversion price shall vary as set forth more
fully in the certificate of designations.
Each of RGC and the RGC Affiliates has sole power to vote and to
dispose of the shares indicated.
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CUSIP NUMBER: 57772M107 PAGE 6 OF 9 PAGES
SCHEDULE 13G
ITEM 1. (a). NAME OF ISSUER: Maxim Pharmaceuticals, Inc. (the
"Issuer")
(b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
8899 University Center Lane, Suite 400, San Diego,
California 92122
ITEM 2. (a). NAME OF PERSON FILING: This Schedule 13G is being
filed on behalf of the following persons (the
"Filers"):
(1) RGC International Investors, LDC, a Cayman
Islands limited duration company ("RGC");
(2) Rose Glen Capital Management, L.P., a
Delaware limited partnership ("Rose Glen");
and
(3) RGC General Partner Corp., a Delaware
corporation ("Partner").
Each of Rose Glen and Partner shall be collectively
referred to as the "RGC Affiliates."
RGC is a private investment fund. Rose Glen is the
investment manager of RGC and Partner is the general
partner of Rose Glen. The Common Stock to which this
Schedule 13G relates is owned by RGC. The name,
residence or business address, principal occupation
or employment and citizenship of each of the
executive officers of the RGC Affiliates are set
forth in the table on Schedule A hereto.
(b). ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE,
RESIDENCE: The business address for each of the RGC
Affiliates is 251 St. Asaphs Road, Suite 200, 3 Bala
Plaza - East, Bala Cynwyd, Pennsylvania 19004. The
business address for RGC is c/o SEI Fund Resources
International, Ltd., 30 Herbert Street, Dublin,
Ireland 2. The residence or business address of each
of the executive officers of the RGC Affiliates are
set forth in the table on Schedule A hereto.
(c). CITIZENSHIP: RGC is a Cayman Islands limited duration
company. Rose Glen is a Delaware limited partnership.
Partner is a Delaware corporation. The citizenship of
each of the executive officers of the RGC Affiliates
are set forth in the table on Schedule A hereto.
(d). TITLE OF CLASS OF SECURITIES: Common Stock, $0.001
par value (the "Common Stock").
(e). CUSIP NUMBER: 57772M107
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CUSIP NUMBER: 57772M107 PAGE 7 OF 9 PAGES
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: N/A
If this statement is filed pursuant to Rule 13d-1(c), check
this box. |X|
ITEM 4. OWNERSHIP. For information concerning the ownership of
Common Stock of the Issuer by RGC and the RGC Affiliates, see
Items 5 through 9 and 11 of the cover pages to this Schedule
13G and the footnotes thereto.
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS. N/A
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER
PERSON. RGC has granted to Rose Glen, as investment manager,
the sole power to manage RGC's investments.
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. CERTIFICATIONS.
By signing below I certify that, to the best of my knowledge
and belief, the securities referred to above were not acquired
and are not 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.
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CUSIP NUMBER: 57772M107 PAGE 8 OF 9 PAGES
SIGNATURES
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.
DATED: August 2, 1999.
RGC INTERNATIONAL INVESTORS, LDC
By: Rose Glen Capital Management, L.P.
By: RGC General Partner Corp.
By: /s/ Wayne D. Bloch
---------------------------------
Wayne D. Bloch
Managing Director
ROSE GLEN CAPITAL MANAGEMENT, L.P.
By: RGC General Partner Corp.
By: /s/ Wayne D. Bloch
---------------------------------
Wayne D. Bloch
Managing Director
RGC GENERAL PARTNER CORP.
By: /s/ Wayne D. Bloch
---------------------------------
Wayne D. Bloch
Managing Director
ATTENTION: INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACT
CONSTITUTE FEDERAL CRIMINAL VIOLATIONS (SEE 18 U.S.C. Section 1001)
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CUSIP NUMBER: 57772M107 PAGE 9 OF 9 PAGES
SCHEDULE A
The name, citizenship and principal occupation or employment of each
executive officer of the RGC Affiliates are set forth below. The business
address of the above listed persons is 251 St. Asaphs Road, Suite 200, 3 Bala
Plaza-East, Bala Cynwyd, Pennsylvania 19004.
<TABLE>
<CAPTION>
NAME AND POSITION CITIZENSHIP PRINCIPAL OCCUPATION OR EMPLOYMENT
<S> <C> <C>
Wayne D. Bloch United States Managing Director - RGC General Partner Corp.*
Gary S. Kaminsky United States Managing Director - RGC General Partner Corp.*
Steven B. Katznelson Canada Managing Director - RGC General Partner Corp.*
</TABLE>
RGC is governed by a board of directors consisting of Messrs. Bloch, Kaminsky
and Katznelson and three additional persons who are affiliates of RGC's
administrator, SEI Fund Resources International, Ltd. RGC's board of directors
has granted to Rose Glen, as investment manager, the sole power to manage RGC's
portfolio of investments.
* Messrs. Bloch, Kaminsky and Katznelson own all of the outstanding
capital stock of Partner, are the sole officers and directors of
Partner and are parties to a shareholders agreement pursuant to which
they collectively control Partner. Through Partner, Messrs. Bloch,
Kaminsky and Katznelson control Rose Glen.