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 [ ].
1
SCHEDULE 13D/A
CUSIP NO. 29403700
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Katana Fund LLC, formerly known as Peritus Capital Partners, LLC
I.D. # 77-0493842
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 IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
[ ]
6 CITIZENSHIP OR PLACE OF ORGANIZATION
California
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:
7 SOLE VOTING POWER-0
8 SHARED VOTING POWER-1,996,052
9 SOLE DISPOSITIVE POWER-0
10 SHARED DISPOSITIVE POWER-1,996,052
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON
1,996,052
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13.3%
14 TYPE OF REPORTING PERSON
OO
Schedule 13D/A
CUSIP NO. 29403700
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Peritus Asset Management, Inc.
I.D. # 94-3174137
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 IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
[ ]
6 CITIZENSHIP OR PLACE OF ORGANIZATION
California
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:
7 SOLE VOTING POWER-0
8 SHARED VOTING POWER-449,833
9 SOLE DISPOSITIVE POWER-0
10 SHARED DISPOSITIVE POWER-449,833
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON
449,833
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.0%
14 TYPE OF REPORTING PERSON
IA
SCHEDULE 13D/A
CUSIP NO. 29403700
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Katana Capital Advisors, LLC
I.D. # 77-0538075
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 IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)
[ ]
6 CITIZENSHIP OR PLACE OF ORGANIZATION
California
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:
7 SOLE VOTING POWER-0
8 SHARED VOTING POWER-1,996,052
9 SOLE DISPOSITIVE POWER-0
10 SHARED DISPOSITIVE POWER-1,996,052
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
1,996,052
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES [ ]
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13.3%
14 TYPE OF REPORTING PERSON
IA
This Statement, which is being filed by Katana Capital Advisors LLC, Katana Fund LLC (formerly known as Peritus Capital
Partners LLC) and Peritus Asset Management, Inc. constitutes Amendment Number Two to the Schedule 13D originally filed with
the Securities and Exchange Commission on March 17, 2000 (the "Schedule 13D"). The Schedule 13D relates to the shares of
Common Stock, par value $.01 per share (the "Common Stock"), of Viskase Companies, Inc., a Delaware Corporation
(the "Company").
Item 2. Identity and Background
Effective July 1, 2000, Peritus Capital Partners, LLC has changed its name to Katana Fund LLC,
and its address changed to 1859 San Leandro Lane, Santa Barbara, CA 93108.
Also effective July 1, 2000, Peritus Asset Management, Inc. resigned as the manager of Katana Fund
LLC. Katana Capital Advisors, LLC, a California limited liability company whose business address is 1859 San
Leandro Lane, Santa Barbara, CA 93108 and who is principally occupied as an investment advisor, became the new manager
of Katana Fund LLC.
Item 5.Interest in Securities of the Issuer.
Item 5 of the Schedule 13D is hereby amended to add the following:
As of June 29, 2000, the date of the earliest event which requires the filing of this
Amendment to Schedule 13, Peritus Capital Partners, LLC ("PCP") beneficially owned 1,996,052 shares,
representing 13.3% of the total outstanding shares of the class of securities identified pursuant to Item 1
and Peritus Asset Management, Inc. ("PAMI") beneficially owned 2,445,885 shares, representing 16.2% of the
total outstanding shares of the class of securities identified in Item 1.
Effective July 1, 2000, upon and as a result of the transfer of management of Katana Fund LLC
(formerly PCP) from PAMI to Katana Capital Advisors, LLC, Katana Capital Advisors, LLC became the beneficial owner
of 1,996,052 shares, representing 13.3% of the total outstanding shares of the class of securities identified in
Item 1.
Effective July 1, 2000, PAMI ceased to be the beneficial owner of shares owned by Katana Fund LLC
(formerly PCP) and, as a result, beneficially owned 449,833 shares representing 3.0% of the total outstanding shares
of the class of securities identified pursuant to Item 1.
The stated percentages are based on 15,058,439 shares of the Common Stock of the Company
outstanding as of November 10, 1999, as reported in the Company's quarterly report on Form 10-Q filed November
15, 1999.
Trade Blotter
DATE BUYER/SELLER NUMBER OF SHARES PRICE PER TYPE OF
SHARE TRANSACTION*
6/13/2000 PCP-Buy 100,000 $2.25 OM
6/29/2000 PCP-Buy 200,000 $2.31 OM
6/29/2000 PCP-Buy 50,000 $2.31 OM
*Note: OM= Open Market Transaction
2
SIGNATURES
After reasonable inquiry and to the best of our knowledge and
belief, the undersigned certify that the information set forth in the statement
is true, complete and correct.
Dated: July 1, 2000
KATANA FUND LLC, formerly known as PERITUS CAPITAL PARTNERS, LLC
By: Katana Capital Advisors, LLC, Manager
By: /s/
_______________________________________________
Steven L. Gevirtz, President
PERITUS ASSET MANAGEMENT, INC.
By: /s/
______________________________________________
Timothy J. Gramatovich, President
KATANA CAPITAL ADVISORS, LLC
By: /s/
______________________________________________
Steven L. Gevirtz, President
EXHIBIT INDEX
Exhibit
Number Description
------ -----------
1 Joint Filing Agreement, dated July 1, 2000,
among the Reporting Persons.
________
