SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) March 3, 1997
ENZON, INC.
(Exact name of registrant as specified in its charter)
Delaware 0-12957 22-237286
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification)
20 Kingsbridge Road, Piscataway, New Jersey 08854
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (908) 980-4500
(Former name or former address, if changed since last report)
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Item 5. Other Events
The sole holder of 20,000 shares of Series C Convertible Preferred
Stock (the "Series C Preferred Stock") of Enzon, Inc. (the "Company") has
exchanged such shares for 20,000 shares of newly issued Series D Convertible
Preferred Stock (the "Series D Preferred Stock"). The Series D Preferred Stock
contains the same provisions as the Series C Preferred Stock, except that the
restriction on the maximum number of shares that can be held by the converting
institution was eliminated. The 20,000 shares of Series C Preferred Stock were
issued as part of a $3,000,000 private placement in March 1996.
In addition, all of the Series D Preferred Stock issued was converted
into 1,015,228 shares of Common Stock. The holder of the Series D Preferred
Stock has agreed not to sell the Common Stock issuable upon the conversion of
the Series D Preferred Stock without the Company's written consent for a period
of one year. This eliminates all of the Company's convertible preferred stock
with the exception of 109,000 shares of Series A Cumulative Convertible
Preferred Stock, which have a fixed conversion price of $11.00 per share.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Dated: March 6, 1997
ENZON, INC.
(Registrant)
By: /S/KENNETH J. ZUERBLIS
Kenneth J. Zuerblis
Vice President, Finance
and Chief Financial
Officer
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