ASCENT PEDIATRICS INC
SC 13D, 2000-09-25
PHARMACEUTICAL PREPARATIONS
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
RULE 13d-2(a)

(Amendment No. 8)

ASCENT PEDIATRICS, INC.
(Name of Issuer)

Common Stock,
$.00004 par value per share
(Title of Class of Securities)

04362X101
(CUSIP Number)

Brian P. Friedman
FS Private Investments LLC
55 East 52nd Street, 37th Floor
New York, New York 10055-0002

(212) 409-5600
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)

September 25, 2000
(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 that is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), Rule 13d-1(f) or Rule 13d-1(g), check the following box  [  ]

Note:  Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7(b) for other parties to whom copies are to be sent.

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).


CUSIP No.:  04362 X1 01


  


Page  2



1

NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

FS Private Investments LLC     13-3940694

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
                                                                                                                                                     [   ] (a)
                                                                                                                                                     [X] (b)

3

SEC USE ONLY
   

4

SOURCE OF FUNDS*
   
AF, OO

5

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEM 2(d) or 2(e)
                                                                                                                                                     [   ]
  

6

CITIZENSHIP OR PLACE OF ORGANIZATION
   
Delaware

  

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH

  

7

8

9

10

  

SOLE VOTING POWER

SHARED VOTING POWER

SOLE DISPOSITIVE POWER

SHARED DISPOSITIVE POWER

  

-0-

11,236,980

-0-

11,236,980

  

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
11,236,980

12

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
   
                                                                                                                                                     [   ]
  

13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
   
59.2%

14

TYPE OF REPORTING PERSON*
   
OO


CUSIP No.:  04362 X1 01


  


Page  3


1

NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

Furman Selz Investors II L.P.     13-3937561

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
                                                                                                                                                     [   ] (a)
                                                                                                                                                     [X] (b)

3

SEC USE ONLY
   

4

SOURCE OF FUNDS*
   
WC

5

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEM 2(d) or 2(e)
                                                                                                                                                     [   ]
  

6

CITIZENSHIP OR PLACE OF ORGANIZATION
   
Delaware

  

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH

  

7

8

9

10

  

SOLE VOTING POWER

SHARED VOTING POWER

SOLE DISPOSITIVE POWER

SHARED DISPOSITIVE POWER

  

-0-

9,742,901

-0-

9,742,901

  

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
9,742,901

12

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
   
                                                                                                                                                     [   ]
  

13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
   
54.5%

14

TYPE OF REPORTING PERSON*
   
PN


CUSIP No.:  04362 X1 01


  


Page  4


1

NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

FS Employee Investors LLC     13-3937563

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
                                                                                                                                                     [   ] (a)
                                                                                                                                                     [X]  (b)

3

SEC USE ONLY
   

4

SOURCE OF FUNDS*
   
WC

5

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEM 2(d) or 2(e)
                                                                                                                                                     [   ]
  

6

CITIZENSHIP OR PLACE OF ORGANIZATION
   
Delaware

  

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH

  

7

8

9

10

  

SOLE VOTING POWER

SHARED VOTING POWER

SOLE DISPOSITIVE POWER

SHARED DISPOSITIVE POWER

  

-0-

835,111

-0-

835,111

  

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
835,111

12

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
   
                                                                                                                                                     [   ]
  

13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
   
8.0%

14

TYPE OF REPORTING PERSON*
   
OO


CUSIP No.:  04362 X1 01


  


Page  5


1

NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

FS Parallel Fund L.P.     13-3974766

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
                                                                                                                                                     [   ] (a)
                                                                                                                                                     [X] (b)

3

SEC USE ONLY
   

4

SOURCE OF FUNDS*
   
WC

5

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEM 2(d) or 2(e)
                                                                                                                                                     [   ]
  

6

CITIZENSHIP OR PLACE OF ORGANIZATION
   
Delaware

  

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH

  

7

8

9

10

  

SOLE VOTING POWER

SHARED VOTING POWER

SOLE DISPOSITIVE POWER

SHARED DISPOSITIVE POWER

  

-0-

473,968

-0-

473,968

  

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
473,968

12

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
   
                                                                                                                                                     [   ]
  

13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
   
4.7%

14

TYPE OF REPORTING PERSON*
   
PN


CUSIP No.:  04362 X1 01


  


Page  6


1

NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

Brian P. Friedman

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
                                                                                                                                                     [   ] (a)
                                                                                                                                                     [X] (b)

3

SEC USE ONLY
   

4

SOURCE OF FUNDS*
   
AF

5

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEM 2(d) or 2(e)
                                                                                                                                                     [   ]
  

6

CITIZENSHIP OR PLACE OF ORGANIZATION
   
United States

  

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH

  

7

8

9

10

  

SOLE VOTING POWER

SHARED VOTING POWER

SOLE DISPOSITIVE POWER

SHARED DISPOSITIVE POWER

  

-0-

11,236,980

-0-

11,236,980

  

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
11,236,980

12

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
   
                                                                                                                                                     [   ]
  

13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
   
59.2%

14

TYPE OF REPORTING PERSON*
   
IN


CUSIP No.:  04362 X1 01


  


Page  7


1

NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

James L. Luikart

2

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
                                                                                                                                                     [   ] (a)
                                                                                                                                                     [X] (b)

3

SEC USE ONLY
   

4

SOURCE OF FUNDS*
   
AF

5

CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEM 2(d) or 2(e)
                                                                                                                                                     [   ]
  

6

CITIZENSHIP OR PLACE OF ORGANIZATION
   
United States

  

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH

  

7

8

9

10

  

SOLE VOTING POWER

SHARED VOTING POWER

SOLE DISPOSITIVE POWER

SHARED DISPOSITIVE POWER

  

-0-

11,236,980

-0-

11,236,980

  

11

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
11,236,980

12

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
   
                                                                                                                                                     [   ]
  

13

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
   
59.2%

14

TYPE OF REPORTING PERSON*
   
IN

        Except as otherwise defined herein, capitalized terms are used as defined in the most recent amendment to this Schedule 13D, Amendment No. 7, filed August 7, 2000.

Item 4.   Purpose of Transaction.

        Item 4 is hereby amended to add the following thereto:

        On September 25, 2000, the Funds advanced to the Company $1,000,000 under the Fourth Amendment, and the Company issued to the Funds Fourth Amendment Notes in the aggregate principal amount of $1,000,000 and Fourth Amendment Warrants to purchase up to 500,000 Depositary Shares.

Item 5.   Interest in Securities of the Issuer.

        Item 5(a) is hereby deleted in its entirety and restated as follows:

        (a)


                        Number of
                        Shares to be   Shared       Shared       Sole    Sole
                        Beneficially   Voting       Investment   Voting  Investment  Percentage
Name                    Owned          Power        Power        Power   Power       of Class

Private Investments     11,236,980     11,236,980   11,236,980    0       0          59.2

Investors               9,742,901      9,742,901    9,742,901     0       0          54.5

Employee Investors      835,111        835,111      835,111       0       0           8.0

Parallel Fund           473,968        473,968      473,968       0       0           4.7

Brian P. Friedman       11,236,980     11,236,980   11,236,980    0       0          59.2

James L. Luikart        11,236,980     11,236,980   11,236,980    0       0          59.2

        As of August 8, 2000, the Company had 9,764,158 Depositary Shares outstanding, each representing one share of Common Stock. This figure does not include outstanding warrants, options and securities convertible into Depositary Shares or shares of Common Stock.

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.

Dated:  September 25, 2000

  

FURMAN SELZ INVESTORS II L.P.

     By:  FS PRIVATE INVESTMENTS LLC

By:            /s/ *                                              
        Name:  Brian P. Friedman
        Title:    Managing Member


  

FS EMPLOYEE INVESTORS LLC

     By:  FS PRIVATE INVESTMENTS LLC

By:            /s/ *                                              
        Name:  Brian P. Friedman
        Title:    Managing Member


  

FS PARALLEL FUND, L.P.

     By:  FS PRIVATE INVESTMENTS LLC

By:            /s/ *                                              
        Name:  Brian P. Friedman
        Title:    Managing Member


  

FS PRIVATE INVESTMENTS LLC

By:            /s/ *                                              
        Name:  Brian P. Friedman
        Title:    Managing Member



  

By:            /s/ *                                              
        Name:  Brian P. Friedman


By:   /s/* James L. Luikart                         
        Name:  James L. Luikart




*   By: /s/ Brian P. Friedman                         
                 Brian P. Friedman

  


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