SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No.___6___)*
MacroChem Corporation
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(Name of Issuer)
Common Stock, $.01 par value
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(Title of Class of Securities)
555903103
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(CUSIP Number)
Kenton E. Wood, c/o Kinder Investments, L.P.,
779 CR 403, Greenville, New York 12083
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
February 28, 1996
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(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 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 [ ].
Check the following box if a fee is being paid with this statement [ ].(A fee
is not required only if the reporting person: (1) has a previous statement
on file reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7.)
Note: Six copies of this statement, including all exhibits, should be filed
with the Commission. See Rule 13d-1(a) 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 the
disclosures provided in a prior cover page.
The information required in 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 1 of 5 pages
<PAGE>
CUSIP No. 555903103 13G Page 2 of 5 Pages
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Kenton E. Wood
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 Source of Funds
See Item #3 herein.
- -------------------------------------------------------------------------------
5 Check Box if Disclosure of Legal Proceedings is required pursuant to
Items 2(d) or 2(e)
- -------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Great Britian
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NUMBER OF 7 SOLE VOTING POWER
SHARES 939,735
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 0
REPORTING --------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 939,735
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
939,735
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.0%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE>
CUSIP No. 555903103 13G Page 3 of 5 Pages
- --------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Kinder Investments, L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- -------------------------------------------------------------------------------
4 Source of Funds
Partnership funds, see Item #3 herein.
- -------------------------------------------------------------------------------
5 Check Box if Disclosure of Legal Proceedings is required pursuant to
Items 2(d) or 2(e)
- -------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 0
BENEFICIALLY --------------------------------------------------------------
OWNED BY 8 SHARED VOTING POWER
EACH 939,735
REPORTING --------------------------------------------------------------
PERSON 9 SOLE DISPOSITIVE POWER
WITH 0
--------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
939,735
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
939,735
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
6.0%
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT
<PAGE>
Page 4 of 5 Pages
Kenton E. Wood and Kinder Investments, L.P. ("Kinder Investments")
(together, the "Reporting Parties") hereby amend their statement on
Schedule 13D relating to the common stock, $.01 par value ("shares")
of MacroChem Corporation as follows:
Item 3. is hereby amended by adding the following new paragraph thereto:
Since the previously filed Schedule 13D, Amendment No. 4,
Kinder used its general funds to effect an exercise of 200,000 Class
A Warrants at $3.00 per share for a total exercise price of
$600,000.00.
Item 5. (a) is hereby amended in its entirety as follows:
As of February 28, 1996, Mr. Wood (2) and Kinder Investments
beneficially own 939,735 or 6.0% of the Issuer's shares as
follows: (i) 73,068 shares, (ii) a Warrant to purchase 35,000 shares
of Common Stock at $1.75 per share through September 2, 1997, (iii)
240,000 Class A Warrants (1) to purchase 240,000 shares at $3.00 per
share, and (iv) 591,667 Class AA Warrants (1) to purchase 591,667
shares at $4.50 per share.
Item 5.(c) is hereby amended by adding the following paragraph:
On February 28, 1996, Kinder Investments exercised 200,000 Class
A Warrants at an exercise price of $3.00 per share, for a total
exercise price of $600,000.00.
The following open-market transactions have been made by Kinder
Investments, since February 15, 1996:
Purchase Price
Date or Sale Amount per share
02/28/96 Sale 50,000 shares 5.67
02/28/96 Sale 150,000 shares 5.48
_______________________________________________________________________________
(1) Each Class A Warrant is exercisable until 12/13/97 to purchase one
share at a price of $3.00, subject to adjustment, and each Class AA
Warrant is exercisable until 12/13/97 to purchase one share at
a price of $4.50, subject to adjustment.
(2) Mr. Wood is the Chairman and the Chief Executive Officer of D.H. Blair
& Co., Inc. ("Blair") and a stockholder and director of Blair. Certain limited
partners of Kinder Investments are also stockholders of Blair. The limited
partners of Kinder Investments are the children and grandchildren of J. Morton
Davis, the sole stockholder and director of the corporation which owns D.H.
Blair Investment Banking Corp. ("Blair Banking"). Not included above are 60,000
Class A Warrants and 60,000 Class AA Warrants owned by Blair Banking, as to all
of which shares both Kinder Investments and Mr. Wood disclaim beneficial
ownership. Blair, Blair Banking and Mr. Davis disclaim for purposes of Section
13 or otherwise beneficial ownership of the shares owned by Kinder Investments.
Kinder Investments disclaims for purposes of Section 13 or otherwise ownership
of any shares owned by Blair, Blair Banking or Mr. Davis.
<PAGE>
Page 5 of 5 pages
SIGNATURES
After reasonable inquiry and to the best of my knowledge and belief, we certify
that the information set forth in this statement is true, complete and correct.
Kinder Investments, L.P.
/s/ Kenton E. Wood
Date: March 7, 1996 by:_____________________________
New York, New York Kenton E. Wood
General Partner
/s/ Kenton E. Wood
Date: March 7, 1996 _____________________________
New York, New York Kenton E. Wood
