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. 4)
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)
MARCH 13, 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).
<PAGE>
SCHEDULE 13D
- ----------------------------- -------------------------------------
CUSIP No. 04362 X1 01 Page 2
- ----------------------------- -------------------------------------
- -------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
FS Private Investments LLC 13-3940694
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) / /
(b) /X/
- -------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF, OO
- -------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e)
/ /
- -------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- -------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES -----------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER 6,930,314
OWNED BY -----------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -----------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER 6,930,314
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
6,930,314
- -------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
/ /
- -------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
47.5%
- -------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
- -------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
- ----------------------------- -------------------------------------
CUSIP No. 04362 X1 01 Page 3
- ----------------------------- -------------------------------------
- -------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Furman Selz Investors II L.P. 13-3937561
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) / /
(b) /X/
- -------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC
- -------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e)
/ /
- -------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- -------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES -----------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER 5,959,557
OWNED BY -----------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -----------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER 5,959,557
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
5,959,557
- -------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
/ /
- -------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
42.6%
- -------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
- -------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
- ----------------------------- -------------------------------------
CUSIP No. 04362 X1 01 Page 4
- ----------------------------- -------------------------------------
- -------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
FS Employee Investors LLC 13-3937563
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) / /
(b) /X/
- -------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC
- -------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e)
/ /
- -------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- -------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES -----------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER 510,852
OWNED BY -----------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -----------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER 510,852
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
510,852
- -------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
- -------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.1%
- -------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
- -------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
- ----------------------------- -------------------------------------
CUSIP No. 04362 X1 01 Page 5
- ----------------------------- -------------------------------------
- -------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
FS Parallel Fund L.P. 13-3974766
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) / /
(b) /X/
- -------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 SOURCE OF FUNDS
WC
- -------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e)
/ /
- -------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- -------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES -----------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER 289,905
OWNED BY -----------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -----------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER 289,905
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
289,905
- -------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
/ /
- -------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.9%
- -------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
- -------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
- ----------------------------- -------------------------------------
CUSIP No. 04362 X1 01 Page 6
- ----------------------------- -------------------------------------
- -------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Furman Selz Investments II LLC 13-3937560
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) / /
(b) /X/
- -------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
- -------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e)
/ /
- -------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- -------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES -----------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER 6,760,314
OWNED BY -----------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -----------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER 6,760,314
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
6,760,314
- -------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
/ /
- -------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
46.4%
- -------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
- -------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
- ----------------------------- -------------------------------------
CUSIP No. 04362 X1 01 Page 7
- ----------------------------- -------------------------------------
- -------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
ING Furman Selz Asset Management LLC 13-4038444
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) / /
(b) /X/
- -------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
- -------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e)
/ /
- -------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- -------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES -----------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER 6,760,314
OWNED BY -----------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -----------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER 6,760,314
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
6,760,314
- -------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
/ /
- -------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
46.4%
- -------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
- -------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
- ----------------------------- -------------------------------------
CUSIP No. 04362 X1 01 Page 8
- ----------------------------- -------------------------------------
- -------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
ING (U.S.) Financial Holdings Corporation 51-0262561
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) / /
(b) /X/
- -------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
- -------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e)
/ /
- -------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- -------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES -----------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER 6,760,314
OWNED BY -----------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -----------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER 6,760,314
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
6,760,314
- -------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
/ /
- -------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
46.4%
- -------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
- -------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
- ----------------------------- -------------------------------------
CUSIP No. 04362 X1 01 Page 9
- ----------------------------- -------------------------------------
- -------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
ING Bank N.V.
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) / /
(b) /X/
- -------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
- -------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e)
/ /
- -------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
The Netherlands
- -------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES -----------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER 6,760,314
OWNED BY -----------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -----------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER 6,760,314
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
6,760,314
- -------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
/ /
- -------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
46.4%
- -------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
BK
- -------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
- ----------------------------- -------------------------------------
CUSIP No. 04362 X1 01 Page 10
- ----------------------------- -------------------------------------
- -------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
ING Groep N.V.
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) / /
(b) /X/
- -------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
- -------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e)
/ /
- -------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
The Netherlands
- -------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES -----------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER 6,760,314
OWNED BY -----------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -----------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER 6,760,314
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
6,760,314
- -------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
/ /
- -------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
46.4%
- -------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IC
- -------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
- ----------------------------- -------------------------------------
CUSIP No. 04362 X1 01 Page 11
- ----------------------------- -------------------------------------
- -------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Brian P. Friedman
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) / /
(b) /X/
- -------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
- -------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e)
/ /
- -------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- -------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES -----------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER 6,930,314
OWNED BY -----------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -----------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER 6,930,314
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
6,930,314
- -------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
/ /
- -------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
47.5%
- -------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- -------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
- ----------------------------- -------------------------------------
CUSIP No. 04362 X1 01 Page 12
- ----------------------------- -------------------------------------
- -------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
James L. Luikart
- -------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) / /
(b) /X/
- -------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 SOURCE OF FUNDS
AF
- -------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) OR 2(e)
/ /
- -------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- -------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES -----------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER 6,930,314
OWNED BY -----------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -----------------------------------------------
PERSON WITH 10 SHARED DISPOSITIVE POWER 6,930,314
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
6,930,314
- -------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
/ /
- -------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
47.5%
- -------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- -------------------------------------------------------------------------------
<PAGE>
ITEM 1. SECURITY AND ISSUER.
- ------ -------------------
Item 1 is hereby deleted in its entirety and restated as follows:
The securities to which this statement relates are shares of common
stock, $0.00004 par value per share (the "Common Stock"), of Ascent Pediatrics,
Inc., a Delaware corporation ("Ascent" or the "Company"). The principal
executive office of Ascent is located at 187 Ballardvale Street, Wilmington,
Massachusetts 01887.
ITEM 2. IDENTITY AND BACKGROUND.
- ------ -----------------------
Item 2 is hereby restated as follows:
The following table provides certain information about each of the
Reporting Persons.
<TABLE>
<CAPTION>
CITIZENSHIP OR STATE OF PRINCIPAL OCCUPATION OR
NAME AND ADDRESS INCORPORATION/ORGANIZATION BUSINESS
- ---------------- -------------------------- --------------------------
<S> <C> <C>
Furman Selz Investors II L.P. Delaware Limited Partnership for
("Investors")
55 East 52nd Street, 37th Floor Investments
New York, New York 10055-0002
FS Employee Investors LLC Delaware Limited Liability Company for
("Employee Investors") Investments
55 East 52nd Street, 37th Floor
New York, New York 10055-0002
FS Parallel Fund L.P. Delaware Limited Partnership for
("Parallel Fund")
55 East 52nd Street, 37th Floor Investments
New York, New York 10055-0002
FS Private Investments LLC Delaware Manager of Investors, Employee
("Private Investments") Investors and Parallel Fund
55 East 52nd Street, 37th Floor
New York, New York 10055-0002
Furman Selz Investments II LLC Delaware Holding Company
("FS Investments II")
55 East 52nd Street
New York, New York 10055-0002
ING Furman Selz Asset Management LLC Delaware Holding Company
("ING FS Management")
230 Park Avenue
New York, New York 10169
ING (U.S.) Financial Holdings Corporation Delaware Holding Company
("ING U.S.")
135 East 57th Street
New York, New York 10022
ING Bank N.V. The Netherlands Bank
("ING Bank")
P.O. Box 810
1000 AV
Amsterdam, The Netherlands
ING Groep N.V. The Netherlands Insurance Company
("ING Groep")
Strawinskylaan 2631
1077 ZZ Amsterdam
Brian P. Friedman USA Managing Member of Private
55 East 52nd Street, 37th Floor Investments
New York, New York 10055-0002
James L. Luikart USA Managing Member of Private
55 East 52nd Street, 37th Floor Investments
New York, New York 10055-0002
</TABLE>
The Executive Board of ING Groep is the following:
E. Kist (Chairman)
F.S. Hubbell (as of May 2, 2000)
J.H.M. Lindenbergh
C. Maas
A.H.G. Rinnooy Kan
D. Robins (as of May 2, 2000)
M. Tilmant
The Executive Board of ING Bank is the following:
E. Kist (Chairman)
F.S. Hubbell (as of May 2, 2000)
J.H.M. Lindenbergh
C. Maas
A.H.G. Rinnooy Kan
D. Robins (as of May 2, 2000)
M. Tilmant
The directors and executive officers of ING (U.S.) Financial Holdings
Corporation are the following:
Directors:
Michael Petrycki
Wietze Prinsen
Bart Staal
Officers:
Fernando Gentil President
Bart Staal Executive Vice President
Joseph Kaminsky Senior Vice President
Benjamin Emanuel Vice President
David Rutkin Vice President
Andrew W. Druch General Counsel, Secretary and
Managing Director
Edward Chow Assistant Secretary
Patrick Murphy Assistant Secretary
Mark Seffinger Assistant Secretary
The officers of ING FS Management are the following:
Timothy Schantz President
Edmund A. Hajim CEO
Robert Miller Executive Vice President and CFO
Kevin Cassidy Executive Vice President
Gerald Lins General Counsel
Joseph Kaminsky Senior Vice President
Wendy Prager Vice President and Assistant
Secretary
Benjamin Emanuel Vice President
David Rutkin Vice President
ING Groep owns 100% of ING Bank, which owns 100% of ING U.S., which is
the sole managing member and owner of 100% of the interests of ING FS
Management, which is the sole managing member and owner of 81.5% of the
interests of FS Investments II, which is the sole managing member of Employee
Investors, which beneficially owns 510,852 shares of Common Stock of the
Company. FS Investments II is the sole general partner of Investors, which
beneficially owns 5,959,557 shares of Common Stock of the Company. FS
Investments II is the sole general partner of Parallel Fund, which beneficially
owns 289,905 shares of Common Stock of the Company.
As a result of its role as manager of Investors, Employee Investors
and Parallel Fund (the "Funds"), Private Investments may be deemed to be the
beneficial owner of the shares beneficially owned by the Funds. In addition to
these indirectly owned securities, Private Investments also directly owns
150,000 shares of Common Stock and options to purchase an additional 35,000
shares of Common Stock.
As a result of their positions as Managing Members of Private
Investments, Brian P. Friedman and James L. Luikart may be deemed to be the
beneficial owners of the shares beneficially owned by Private Investments and
therefore deemed to be the beneficial owners of the shares held by the Funds.
ING FS Management's ownership interests in FS Investments II were
acquired from ING Barings LLC, which is a wholly owned subsidiary of ING Merger,
LLC. As a result of this transfer, ING Barings LLC and ING Merger, LLC no longer
beneficially own any shares of the Company's Common Stock.
(d) and (e). None of the Reporting Persons, and to the knowledge of
the Reporting Persons, none of the other individuals named have, within the last
five years, been convicted in a criminal proceeding (excluding traffic
violations or similar misdemeanors), or have been a party to a civil proceeding
of a judicial or administrative body of competent jurisdiction and as a result
of such proceeding been or are subject to a judgment, decree or final order
enjoining future violations of, or prohibiting or mandating activities subject
to, federal or state securities laws or finding any violations with respect to
such laws.
(f) Brian P. Friedman and James L. Luikart are United States citizens.
The filing of this statement shall not be construed as an admission
that Private Investments, FS Investments II, ING FS Management, ING U.S., ING
Bank, ING Groep, Brian P. Friedman or James L. Luikart are, for purposes of
Sections 13(d) or 13(g) of the Securities Exchange Act of 1934, the beneficial
owner of any shares covered by this statement.
ITEM 3. SOURCE AND AMOUNT OF FUNDS.
- ------ --------------------------
Item 3 is hereby deleted in its entirety and restated as follows:
The funds for the purchase of securities described herein by Investors
and Parallel Fund were provided from the capital contributions of their
respective partners.
The funds for the purchase of securities described herein by Employee
Investors were provided from member contributions.
150,000 shares of Common Stock were received by Private Investments in
lieu of cash fees owed it on February 16, 1999. In addition Private Investments
periodically receives stock options under the Company's Director Stock Option
Plan as a result of the Funds' right to appoint two of the Company's directors.
To date, Private Investments has received 35,000 of such options.
ITEM 4. PURPOSE OF TRANSACTION.
- ------ ----------------------
Item 4 is hereby deleted in its entirety and restated as follows:
All acquisitions of securities issued by the Company reported on this
Schedule 13D were made for investment purposes. While the Funds do have the
right to appoint two directors of the Company, and two employees of Private
Investments have been appointed directors under this power, the Reporting
Persons expressly disclaim any intention to control or acquire control of the
Company. While the Company's Board of Directors may from time to time consider
matters of a nature similar to one or more of the actions enumerated under Item
4 of Schedule 13D, there exist at this time no plans or proposals which require
disclosure pursuant thereto.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
- ------ ------------------------------------
Item 5 is hereby amended and restated as follows:
(a)
<PAGE>
<TABLE>
<CAPTION>
NUMBER OF SHARES
TO BE BENEFICIALLY SHARED VOTING SHARED INVESTMENT SOLE VOTING SOLE INVESTMENT PERCENTAGE
NAME OWNED POWER POWER POWER POWER OF CLASS
- ----- ------------------ ------------- ----------------- ----------- --------------- ------------
<S> <C> <C> <C> <C> <C> <C>
Private Investments 6,930,314 6,930,314 6,930,314 0 0 47.5
Investors 5,959,557 5,959,557 5,959,557 0 0 42.6
Employee Investors 510,852 510,852 510,852 0 0 5.1
Parallel Fund 289,905 289,905 289,905 0 0 2.9
FS Investments II 6,760,314 6,760,314 6,760,314 0 0 46.4
ING FS Management 6,760,314 6,760,314 6,760,314 0 0 46.4
ING U.S. 6,760,314 6,760,314 6,760,314 0 0 46.4
ING Bank 6,760,314 6,760,314 6,760,314 0 0 46.4
ING Groep 6,760,314 6,760,314 6,760,314 0 0 46.4
Brian P. Friedman 6,930,314 6,930,314 6,930,314 0 0 47.5
James L. Luikart 6,930,314 6,930,314 6,930,314 0 0 47.5
</TABLE>
<PAGE>
As of November 9, 1999, the Company had 9,643,883 shares of Common
Stock outstanding. This figure does not include outstanding warrants, options
and securities convertible into shares of Common Stock.
(b) See the responses to Items 2 and 5(a) hereof.
(c) The Reporting Persons are filing on Schedule 13D to report
securities transactions made pursuant to the Securities Purchase Agreement,
dated May 13, 1998, as amended (the "Purchase Agreement"), among the Company and
the persons named as purchasers on Schedule I attached thereto (each a
"Purchaser" and collectively, the "Purchasers").
On May 13, 1998, pursuant to the Purchase Agreement, Investors,
Employee Investors and Parallel Fund (each a Purchaser, and collectively, the
"Funds") purchased from the Company: (i) 4,628, 397 and 225 shares,
respectively, of Series G Convertible Exchangeable Preferred Stock, $.01 par
value per share (the "Preferred Shares"); (ii) $5,950,667, $509,668 and $289,665
principal amount, respectively, of 8% Subordinated Notes of the Company due 2005
(the "Subordinated Notes"); and (iii) warrants to purchase 1,399,662, 119,961
and 68,095 shares, respectively, of Common Stock (the "Warrants"). The Preferred
Shares were convertible into Common Stock and exchangeable into convertible
subordinated notes of the Company (the "Convertible Notes").
On February 16, 1999, the Company entered into a Loan Agreement with
Alpharma USPD Inc. ("Lender") and Alpharma Inc., pursuant to which Lender agreed
to lend to the Company up to $40,000,000 (the "Alpharma Transaction"). In
connection with the Alpharma Transaction, the Company agreed to grant to the
Lender an option during a specified period during the first half of 2002 to
purchase all of the outstanding shares of the Company's Common Stock. The
Company and a wholly-owned subsidiary of the Company entered into an Agreement
and Plan of Merger, which was consummated on July 23, 1999 (the "Alpharma
Transaction Closing Date"), pursuant to which, each share of Common Stock was
converted into the right to receive one Depositary Share (the "Depositary
Shares"). Each Depositary Share evidences one share of Common Stock of the
Company subject to the Lender's option.
In connection with the Alpharma Transaction, the Purchase Agreement
was amended on February 16, 1999 (the "Second Amendment"). Under the Second
Amendment, the following three pertinent exchanges involving the Funds occurred
on the Alpharma Transaction Closing Date. First, the Funds purchased 225,000
shares of Common Stock from the Company for $675,000. Second, the Funds acquired
an additional 1,587,718 shares of Common Stock through the exercise of all of
their Warrants outstanding as of February 16, 1999 at an exercise price adjusted
from $4.75 to $3.00 per share of Common Stock. Third, the Company exchanged
$5,250,000 aggregate principal amount of its Convertible Notes for the Preferred
Shares held by the Funds in accordance with the terms of the Preferred Shares.
The Convertible Notes are convertible at the option of the holder into shares of
Common Stock at a conversion price of $4.75 per share and will automatically
convert into Common Stock under certain circumstances.
On July 1, 1999, the Company and the Purchasers executed another
amendment to the Purchase Agreement (the "Third Amendment"), pursuant to which,
among other things, the Funds collectively agreed to lend to the Company up to
$4,000,000 in exchange for 7.5% Convertible Subordinated Notes of the Company
(the "Third Amendment Notes") and warrants to purchase up to an aggregate of
600,000 shares of Common Stock (the "Third Amendment Warrants" and, collectively
with the Third Amendment Notes, the "Third Amendment Securities"). The Third
Amendment Notes are convertible into shares of Common Stock at a conversion
price of $3.00 per share in accordance with the terms of the Purchase Agreement,
as amended, and are due on July 1, 2004. The Third Amendment Warrants are
exercisable at $3.00 per share of Common Stock and expire on July 1, 2006.
$2,000,000 of the total $4,000,000 was immediately advanced to the Company and,
pursuant to the Third Amendment, the Company issued to the Funds Third Amendment
Notes in the aggregate principal amount of $2,000,000 and Third Amendment
Warrants to purchase up to 300,000 shares of Common Stock.
On October 15, 1999, the Company and the Purchasers executed another
amendment to the Purchase Agreement (the "Fourth Amendment"), pursuant to which,
among other things, the Funds collectively agreed to lend to the Company up to
$10,000,000 in exchange for 7.5% Convertible Subordinated Notes of the Company
(the "Fourth Amendment Notes") and warrants to purchase up to an aggregate of
5,000,000 shares of Common Stock (the "Fourth Amendment Warrants" and,
collectively with the Fourth Amendment Notes, the "Fourth Amendment
Securities"). The Fourth Amendment Notes are convertible into shares of Common
Stock at a conversion price of $3.00 per share in accordance with the terms of
the Purchase Agreement, as amended, and are due on July 1, 2004. The Fourth
Amendment Warrants are exercisable at $3.00 per share of Common Stock and expire
on October 15, 2006. Upon execution of the Fourth Amendment, and pursuant to its
terms, the Company immediately issued Fourth Amendment Warrants to the Funds to
purchase up to 1,000,000 shares of Common Stock.
On December 30, 1999, the Funds advanced an additional $1,000,000 to
the Company pursuant to the Third Amendment, and the Company issued to the Funds
Third Amendment Notes in the aggregate principal amount of $1,000,000 and Third
Amendment Warrants to purchase up to 150,000 shares of Common Stock.
On February 14, 2000, the Funds advanced to the Company the remaining
$1,000,000 under the Third Amendment, and the Company issued to the Funds Third
Amendment Notes in the aggregate principal amount of $1,000,000 and Third
Amendment Warrants to purchase up to 150,000 shares of Common Stock.
On March 13, 2000, the Funds advanced to the Company $1,500,000 under
the Fourth Amendment, and the Company issued to the Funds Fourth Amendment Notes
in the aggregate principal amount of $1,500,000 and Fourth Amendment Warrants to
purchase up to 375,000 shares of Common Stock.
On February 16, 1999, Private Investments received 150,000 shares of
Common Stock in lieu of cash fees owed it. In addition, as a result of the Funds
having the right to appoint two of the Company's directors, Private Investments
periodically receives options to purchase Common Stock under the Company's
Director Stock Option Plan. With regard to these options, 15,000 were granted on
June 1, 1998, and became exercisable on June 1, 1999 at a price of $3.50 per
share; 5,000 were granted on May 1, 1999, and will become exercisable on May 1,
2000 at a price of $3.00 per share; and 15,000 were granted on July 23, 1999,
and will become exercisable on July 23, 2000 at a price of $2.50 per share.
(d) Not applicable.
(e) Not applicable.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDING OR RELATIONSHIPS WITH
- ------ ------------------------------------------------------------
RESPECT TO SECURITIES OF THE ISSUER.
-----------------------------------
Item 6 is hereby amended and restated as follows:
Private Investments is the manager of each of Investors, Employee
Investors and Parallel Fund. The general partner of each of Investors and
Parallel Fund and the managing member of Employee Investors have delegated all
relevant rights to Private Investments.
Brian P. Friedman and James L. Luikart are the managing members of
Private Investments.
The Funds have the right to appoint two of the Company's directors. As
a result, two employees of Private Investments, James L. Luikart and Nicholas
Daraviras, serve as directors of the Company. By the terms of their employment
with Private Investments, both must assign to Private Investments any options to
purchase Company securities to which they would ordinarily be entitled under the
Company's Director Stock Option Plan.
ITEM 7. MATERIAL FILED AS EXHIBITS. PAGE
- ------ --------------------------
A. Joint Reporting Agreement and Power of Attorney on
Behalf of Each Reporting Person...........................25
<PAGE>
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: March __, 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
FURMAN SELZ INVESTMENTS II LLC
By: /S/ *
----------------------------------
Name: Brian P. Friedman
Title: President
ING FURMAN SELZ ASSET
MANAGEMENT LLC
By: /S/ **
----------------------------------
Name: Robert J. Miller
Title: Executive Vice President
ING (U.S.) FINANCIAL HOLDINGS CORPORATION
By: /S/ **
-----------------------------------
Name: Andrew W. Druch
Title: Secretary
ING BANK N.V.
By: /S/ **
-----------------------------------
Name: J. H. J. Houben
Title: Managing Principal
By: /S/ **
-----------------------------------
Name: P. F. M. Van Lierop
Title: Senior Legal Advisor
ING GROEP N.V.
By: /S/ **
----------------------------------
Name: J. H. J. Houben
Title: Managing Principal
<PAGE>
/S/ *
------------------------------------
Name: Brian P. Friedman
/s/ James L. Luikart
------------------------------------
Name: James L. Luikart
* By: /s/ Brian P. Friedman
----------------------
Brian P. Friedman
** By: /s/ Robert Miller
-----------------------
Robert Miller
Attorney-in-Fact
<PAGE>
EXHIBIT A
JOINT REPORTING AGREEMENT
AND
POWER OF ATTORNEY
WHEREAS, the statement or amended statement of Schedule 13D (the
"Joint Statement") to which this joint reporting agreement and power of attorney
(the "Agreement") is an exhibit is being filed on behalf of two or more persons
(collectively, the "Reporting Persons"); and
WHEREAS, the Reporting Persons prefer to file the Joint Statement on
behalf of all of the Reporting Persons rather than individual statements on
Schedule 13D on behalf of each of the Reporting Persons;
NOW, THEREFORE, the undersigned hereby agree as follows with each of
the other Reporting Persons:
1. Each of the Reporting Persons is responsible for the timely filing
of the Joint Statement and any amendments thereto.
2. Each of the Reporting Persons is responsible for the completeness
and accuracy of the information concerning such Reporting Person contained in
the Joint Statement.
3. None of the Reporting Persons is responsible for the completeness
or accuracy of the information concerning the other Reporting Persons contained
in the Joint Statement, unless such Reporting Person knows or has reason to
believe that such information is inaccurate.
4. The undersigned agrees that the Joint Statement is, and any
amendment thereto will be, filed on behalf of each of the Reporting Persons.
5. Each of Furman Selz Investments II LLC, ING Furman Selz Asset
Management LLC, ING (U.S.) Financial Holdings Corporation, ING Bank N.V., ING
Groep N.V. hereby appoints Robert Miller as attorney-in-fact with authority to
execute and deliver on behalf of it any and all documents (including any
amendments thereto) required to be filed or otherwise executed and delivered by
it pursuant to the Securities Exchange Act of 1934, as amended, the Securities
Act of 1933, as amended, all other federal, state and local securities and
corporation laws, and all regulations promulgated thereunder. Each of Furman
Selz Investments II LLC, ING Furman Selz Asset Management LLC, ING (U.S.)
Financial Holdings Corporation, ING Bank N.V., ING Groep N.V. further grant
Robert Miller authority, as attorney-in-fact, to execute, deliver, or file on
behalf of it any document necessary to amend this Joint Reporting Agreement and
Power of Attorney for the purpose of adding additional parties thereto at such
time or times as he should, in his discretion, deem appropriate.
6. Each of Brian P. Friedman and James L. Luikart hereby appoints
Brian P. Friedman and James L. Luikart, and each of them, as attorney-in-fact
with authority to execute and deliver on his behalf any and all documents
(including any amendments thereto) required to be filed or otherwise executed
and delivered by him pursuant to the Securities Exchange Act of 1934, as
amended, the Securities Act of 1933, as amended, all other federal, state and
local securities and corporation laws, and all regulations promulgated
thereunder.
7. This Agreement may be executed in one or more counterparts, each of
which shall be deemed an original, but all of which together shall constitute
one and the same document.
<PAGE>
Dated: February __, 2000
FURMAN SELZ INVESTMENTS II LLC
By: /S/ BRIAN P. FRIEDMAN
------------------------------
Name: Brian P. Friedman
Title: President
ING FURMAN SELZ ASSET MANAGEMENT LLC
By: /S/ ROBERT J. MILLER
--------------------------------
Name: Robert J. Miller
Title: Vice President
ING (U.S.) FINANCIAL HOLDINGS
CORPORATION
By: /S/ ANDREW W. DRUCH
--------------------------------
Name: Andrew W. Druch
Title: Secretary
ING BANK N.V.
By: /S/ J.H.J. HOUBEN
-------------------------------
Name: J.H.J. Houben
Title:
By: /S/ P.F.M. VAN LIEROP
-------------------------------
Name: P.F.M. Van Lierop
Title: Senior Legal Advisor
ING GROEP N.V.
By: /S/ J.H.J. HOUBEN
-------------------------------
Name: J.H.J. Houben
Title:
/S/ BRIAN P. FRIEDMAN
-------------------------------
Brian P. Friedman
/S/ JAMES L. LUIKART
-------------------------------
James L. Luikart
