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OMB APPROVAL
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- ------ OMB Number: 3235-0287
FORM 4 Expires: February 1, 2001
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hours per response .... 1.0
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U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
/ / Check this box if no
longer subject to Filed pursuant to Section 16(a) of the Securities
Section 16. Form 4 Exchange Act of 1934, Section 17(a) of the
or Form 5 obligations Public Utility Holding Company Act of 1935
may continue. See or Section 30(f) of the Investment Company
Instruction 1(b). Act of 1940
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<S> <C> <C> <C> <C> <C> <C>
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1. Name and Address of Reporting Person 2. Issuer Name and Ticker or Trading Symbol 6. Relationship of Reporting Person to
Reicher Michael K. Halsey Drug Co., Inc. Symbol: HDG Issuer (Check all applicable)
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(Last) (First) (Middle) 3. IRS or Social Security 4. Statement for ---- ---
C/o Halsey Drug Co., Inc. Number of Reporting Month/Year X Officer (give Other (Specify
695 N. Perryville Rd. Bldg. 2 Person (Voluntary) 1/00 ---- title --- below)
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(Street) 5. If Amendment,
Date of Original Chief Executive Officer
Rockford, Illinois 61127 (Month/Year) ------------------------
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(City) (State) (Zip)
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TABLE 1 -- NON-DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
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1. Title of Security 2. Trans- 3. Transac- 4. Securities Acquired (A) 5. Amount of Se- 6. Owner- 7. Nature
(Instr. 3) action tion or Disposed of (D) curities Benefi- ship of In-
Date Code (Instr. 3, 4 and 5) cially Owned at Form: direct
(Instr. 8) End of Month Direct Benefi-
(Month/ (Instr. 3 and 4) (D) or cial
Day/ --------------------------------------- Indirect Owner-
Year) Code V Amount (A) or Price (I) ship
(D) (Instr. 4) (Instr.
4)
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Common Scock 1/1/00 A* 3.089 A* $1.3281 D
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8.737 D
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(Print or Type Responses)
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
SEC 1474 (3/91)
*See footnote 2 on Table II
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FORM 4 (CONTINUED)
TABLE II -- DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
(e.g., PUTS, CALLS, WARRANTS, OPTIONS, CONVERTIBLE SECURITIES)
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1. Title of Derivative 2. Conver- 3. Trans- 4. Trans- 5. Number of 6. Date Exer- 7. Title and Amount 8. Price
Security sion or action action Derivative cisable and of Underlying of
(Instr. 3) Exercise Date Code Securities Ac- Expiration Securities Deriv-
Price of (Month/ (Instr. 8) quired (A) or Date (Instr. 3 and 4) ative
Deriv- Day/ Disposed of (D) (Month/Day/ Secur-
ative Year) (Instr. 3, 4, Year) ity
Security and 5) (Instr. 5)
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Date Expira- Amount or
-------------------------- Exer- tion Title Number of
Code V (A) (D) cisable Date Shares
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
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5% Convertible Senior $ 1.404 3/10/98 A (1) 3/10/98 3/15/03 Common Stock 213,675
Secured Debentures
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Warrants $ 1.404 3/10/98 A (1) 3/10/98 3/15/05 Common Stock 30,303
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Warrants $ 2.279 3/10/98 A (1) 3/10/98 3/15/05 Common Stock 30,303
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5% Convertible Senior $ 1.404 6/12/98 A4 (2) 6/12/98 3/15/03 Common Stock 51,363
Secured Debentures
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Warrants $ 1.404 6/12/98 A4 (2) 6/12/98 3/15/05 Common Stock 7,284
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Warrants $ 2.279 6/12/98 A4 (2) 6/12/98 3/15/05 Common Stock 7,284
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Non-qualified Stock $ 2.375 2/19/98 A4 (3) 2/19/08 Common Stock 1,000,000
Options
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5% Convertible Senior $ 1.1312 4/1/99 A (2) 4/1/99 3/15/03 Common Stock 4,111
Secured Debentures
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Non-qualified Stock $ 1.125 4/12/99 A (4) 3/8/00 3/8/09 Common Stock 100,000
Options
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5% Convertible Senior $ 2.4250 7/1/99 A (2) 7/1/99 3/15/03 Common Stock 1,939
Secured Debentures
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5% Convertible Senior $ 2.3063 10/1/99 A (2) 10/1/99 3/15/03 Common Stock 1,789
Secured Debentures
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<CAPTION>
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9. Number of 10. Ownership 11. Nature of
Derivative Form of Indirect
Securities Derivative Beneficial
Beneficially Security: Ownership
Owned at End Direct (D) (Instr. 4)
of Month or Indirect (I)
(Instr. 4) (Instr. 4)
<S> <C> <C> <C>
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213,675 D
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30,303 D
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30,303 D
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51,363 D
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7,284 D
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7,284 D
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1,000,000 D
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4,111 D
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100,000 D
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1,939 D
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1,789 D
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Explanation of Responses:
(1) Purchased in connection with a private offering on March 10, 1998 consisting
of a Convertible Debenture convertible as any time and Stock Purchase
Warrants (30,303 shares of which are presently exercisable at $1.404 per
share and 30,303 shares of which are presently exercisable at $2.279 per
share).
(2) Acquired pursuant to an option exercise in June 1998, consisting of: (i) a
Convertible Debenture, convertible at any time, (ii) Warrants to purchase
share of common stock (7,284 shares of which presently exercisable at $1.404
per share and 7,284 shares of which are presently exercisable at $2.279 per
share); and (iii) certain interest payments payable quarterly which are paid
in the form of share of common stock of the Issuer (See Table I).
(3) Options vest quarterly, with 62,500 options vesting every quarter effective
May 1, 1998.
(4) Options vest 25% annually, with 25,000 options vesting every March 8,
beginning March 8, 2000.
By: /s/ Michael K. Reicher February 9, 2000
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Michael K. Reicher Date
Signature of Reporting Person
Intentional misstatements or omissions of facts constitute Federal Criminal Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. Page 2
If space provided is insufficient, see Instruction 6 for procedure.
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