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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
IGI, Inc.
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(Name of Issuer)
Common Stock, $0.01 par value
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(Title of Class of Securities)
449575 10 9
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(CUSIP Number)
October 29, 1999
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(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
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
"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).
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<PAGE>
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CUSIP NO.: 449575 10 9 SCHEDULE 13G Page 2 of 6 Pages
1) Name of Reporting Person: American Capital Strategies, Ltd.
I.R.S. Identification No. of Above Person (entities only)
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2) Check the Appropriate Box if a Member of a Group: Not applicable
(a) [ ]
(b) [ ]
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3) SEC Use only
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4) Citizenship or Place of Organization:
State of Delaware
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5) Sole voting Power:
Number of 1,907,543
Units -------------------------------------------
Beneficially 6) Shared Voting Power
owned by N/A
Each -------------------------------------------
Reporting 7) Sole Dispositive Power:
Person 1,907,543
with: -------------------------------------------
8) Shared Dispositive Power:
N/A
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9) Aggregate Amount Beneficially owned by Each Reporting Person:
1,907,543
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10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares:
[ ]
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11) Percent of Class Represented by Amount in Row (9):
19.9%
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12) Type of Reporting Person:
CO
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Schedule 13G Page 3 of 6 Pages
Item 1. (a) Name of Issuer:
IGI, Inc.
(b) Address of Issuer's Principal Executive Offices:
Wheat Road and Lincoln Avenue
Buena, New Jersey 08310
Item 2. (a) Name of Person Filing:
American Capital Strategies, Ltd.
(b) Address of Principal Business Office, or, if none,
Residence:
2 Bethesda Metro Center
14th Floor
Bethesda, Maryland 20814
(c) Citizenship:
State of Delaware
(d) CUSIP Number:
449575 10 9
Item 3. If this statement is filed pursuant to Rules 13d-1(b) or
13d-2(b), check whether the person filing is a: N/A
(a) [ ] Broker or dealer registered under Section 15 of the Act
(b) [ ] Bank as defined in Section 3(a)(6) of the Act
(c) [ ] Insurance Company as defined in Section 3(a)(19) of the Act
(d) [ ] Investment Company registered under Section 8 of the
Investment Company Act
(e) [ ] Investment Adviser registered under Section 203 of the
Investment Advisers Act of 1940
(f) [ ] Employee Benefit Plan, Pension Fund which is subject to the
provisions of the Employee Retirement Income Security Act of
1974 or Endowment Fund; see Section 401.13d-1(b)(1)(ii)(F)
(g) [ ] Parent Holding Company, in accordance with Section
240.13d-1(b)(1)(ii)(G) (Note: See Item 7)
(h) [ ] Group, in accordance with Section 240.13d-1(b)(1)(ii)(H)
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Schedule 13G Page 4 of 6 Pages
Item 4. Ownership.
Provide the following information regarding the aggregate
number and percentage of the class of securities identified in Item 1.
(a) Amount beneficially owned:
1,907,543
(b) Percent of class:
19.9%
(c) Number of shares as to which such person has:
(i) sole power to vote or direct the vote:
1,907,543
(ii) shared power to vote or direct the vote:
N/A
(iii) sole power to dispose or to direct the
disposition of:
1,907,543
(iv) shared power to dispose or direct the
disposition of:
N/A
Item 5. Ownership of Five Percent or less of a class:
If this statement is being filed to report the fact that as of the date
hereof the reporting person has ceased to be the beneficial owner of more than
five percent of the class of securities, check the following: [ ] N/A
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Schedule 13G Page 5 of 6 Pages
Item 6. Ownership of More than Five Percent on Behalf of Another
Person:
N/A
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. Certification and Signature.
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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Schedule 13G Page 6 of 6 Pages
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.
American Capital Strategies, Ltd.
/s/ Malon Wilkus
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By: Malon Wilkus
Title: CEO
Date: February 7, 2000
