<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 13D
(Rule 13d-101)
Information to be Included in Statements
Filed Pursuant to 13d-1(a) and Amendments
thereto filed pursuant to 13d-2(a)
(AMENDMENT NO. 2)
COLUMBIA LABORATORIES, INC.
(Name of Issuer)
COMMON STOCK $ .01 PAR VALUE
(Title of Class of Securities)
197779101
-----------------
(CUSIP Number)
DAVID M. KNOTT
485 UNDERHILL BOULEVARD, SUITE 205,
SYOSSET, NEW YORK 11791-3419 (516) 364-0303
(Name, Address and Telephone Number of Person Authorized to
Receive Notices and Communications)
NOVEMBER 23, 1998
(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 [_].
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.
(continued on following pages)
Page 1 of 10
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SCHEDULE 13D
CUSPI No. 197779101
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1 Name of Reporting Person David M. Knott
S.S. or I.R.S. Identification No. of above Person SS# ###-##-####
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group* (a) [X]
(b) [_]
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds*
PF, OO
- --------------------------------------------------------------------------------
5 Check Box if Disclosure of Legal Proceeding is Required
Pursuant to Items 2(d) or 2(e) [_]
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization U.S.A.
- --------------------------------------------------------------------------------
Number of 7 Sole Voting Power 1,197,400
Shares ----------------------------------------------------------------
Beneficially 8 Shared Voting Power 99,200
Owned by ----------------------------------------------------------------
Each 9 Sole Dispositive Power 1,197,400
Reporting ----------------------------------------------------------------
Person 10 Shared Dispositive Power 105,800
With
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person 1,303,200
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) Excludes
Certain Shares* [_]
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount
in Row (11) 4.5%
- --------------------------------------------------------------------------------
14 Type of Reporting Person* IN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 2 of 10
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SCHEDULE 13D
CUSPI No. 197779101
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1 Name of Reporting Person Knott Partners, L.P.
S.S. or I.R.S. Identification No. of above Person TIN# 11-2835793
- --------------------------------------------------------------------------------
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 Box if Disclosure of Legal Proceeding is Required
Pursuant to Items 2(d) or 2(e) [_]
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization U.S.A.
- --------------------------------------------------------------------------------
Number of 7 Sole Voting Power 719,100
Shares ----------------------------------------------------------------
Beneficially 8 Shared Voting Power
Owned by ----------------------------------------------------------------
Each 9 Sole Dispositive Power 719,100
Reporting ----------------------------------------------------------------
Person 10 Shared Dispositive Power
With
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person 719,100
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) Excludes
Certain Shares* [_]
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount
in Row (11) 2.5%
- --------------------------------------------------------------------------------
14 Type of Reporting Person* PN
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 3 of 10
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SCHEDULE 13D
CUSPI No. 197779101
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1 Name of Reporting Person Dorset Management Corporation
S.S. or I.R.S. Identification No. of above Person TIN# 11-2873658
- --------------------------------------------------------------------------------
2 Check the Appropriate Box if a Member of a Group* (a) [X]
(b) [_]
- --------------------------------------------------------------------------------
3 SEC Use Only
- --------------------------------------------------------------------------------
4 Source of Funds*
OO
- --------------------------------------------------------------------------------
5 Check Box if Disclosure of Legal Proceeding is Required
Pursuant to Items 2(d) or 2(e) [_]
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization U.S.A.
- --------------------------------------------------------------------------------
Number of 7 Sole Voting Power 430,100
Shares ----------------------------------------------------------------
Beneficially 8 Shared Voting Power 92,000
Owned by ----------------------------------------------------------------
Each 9 Sole Dispositive Power 430,100
Reporting ----------------------------------------------------------------
Person 10 Shared Dispositive Power 92,000
With
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person 522,100
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) Excludes
Certain Shares* [_]
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount
in Row (11) 1.8%
- --------------------------------------------------------------------------------
14 Type of Reporting Person* CO
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 4 of 10
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SCHEDULE 13-D
CUSPI No. 197779101
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1 Name of Reporting Person Matterhorn Offshore Fund Limited
S.S. or I.R.S. Identification No. of above Person N/A
- --------------------------------------------------------------------------------
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 Box if Disclosure of Legal Proceeding is Required
Pursuant to Items 2(d) or 2(e) [_]
- --------------------------------------------------------------------------------
6 Citizenship or Place of Organization British Virgin Islands.
- --------------------------------------------------------------------------------
Number of 7 Sole Voting Power
Shares ----------------------------------------------------------------
Beneficially 8 Shared Voting Power 92,000
Owned by ----------------------------------------------------------------
Each 9 Sole Dispositive Power
Reporting ----------------------------------------------------------------
Person 10 Shared Dispositive Power 92,000
With
- --------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person 92,000
- --------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) Excludes
Certain Shares* [_]
- --------------------------------------------------------------------------------
13 Percent of Class Represented by Amount
in Row (11) 0.3%
- --------------------------------------------------------------------------------
14 Type of Reporting Person* CO
================================================================================
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 5 of 10
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SCHEDULE 13-D
Capitalized terms used herein without definition have the meanings
ascribed to them in the Schedule 13D filed on July 16, 1998 (the "Schedule 13D")
by (i) David M. Knott, (ii) Knott Partners, L.P., (iii) Dorset Management
Corporation, and (iv) Matterhorn Offshore Fund Limited (collectively, the
"Reporting Persons").
ITEM 2. IDENTITY AND BACKGROUND
Item 2 is hereby amended to include the following paragraphs:
This filing is made, although none of the Reporting Persons nor any of
the Other Reporting Persons (as defined below) were individually the beneficial
owners of more than 5% of the Company's shares, to avoid any potential question
regarding compliance with appropriate public disclosure requirements in the
event that any of the Reporting Persons and/or the Other Reporting Persons might
be deemed to be members of a "group" collectively owning more than 5% of the
Company's shares, because they are prepared to cooperate with respect to certain
contacts with the Company's senior management and related matters (although
except as disclosed in connection with those contacts and related matters there
are no understandings among those persons with respect to the Company's
securities).
The filing of any Schedule 13D and amendments thereto does not
constitute an admission that any of the Reporting Persons is a member of a
"group" for purposes of the Securities Exchange Act of 1934, as amended, or the
rules promulgated thereunder or for any other purpose whatsoever. Each of the
Reporting Persons expressly disclaims beneficial ownership of any Common Stock
beneficially owned by the Other Reporting Persons.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
The second paragraph of Item 3 is amended to read in full as
follows:
The aggregate amount of consideration used by Mr. Knott and the
other Reporting Persons in making such acquisitions was $12,167,838. This amount
includes all purchases of the Common Stock made by the Reporting Persons,
including those purchases made more than 60 days from the date of this filing.
The aforementioned sources and amount of funds are more particularly set forth
below:
Page 6 of 10
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<TABLE>
<CAPTION>
SOURCE AMOUNT
- --------------------------------------------------------------- -----------
<S> <C>
David M. Knott (includes his IRA) $ 586,950
Mrs. David M. Knott (includes her IRA and the accounts of the 166,041
Knotts' minor children)
Knott Partners, L.P. 6,154,384
Matterhorn Offshore Fund Limited 744,835
The Common Fund 3,000,982
GAM Knott Hedge Investments, Inc. 996,714
Trinkaus Optima US Equities 495,339
Leonard & Margaret Frierman 22,593
-----------
TOTAL $12,167,838
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</TABLE>
ITEM 5. INTEREST IN SECURITIES OF THE COMPANY
Item 5 is hereby amended to read in full as follows:
(a) As reported in Amendment No. 3 to the Schedule 13D filed by the
Other Reporting Persons on November 4, 1998, an aggregate of 4,315,100 shares of
the Company's Common Stock, representing approximately 15.0% of the shares of
outstanding Common Stock, were beneficially owned by the Reporting Persons and
the Other Reporting Persons, 3,074,800 shares of which, representing
approximately 10.7% of the shares of the outstanding Common Stock/1/, were
beneficially owned by the Other Reporting Persons.
Pursuant to Rule 13d-3 under the Securities Exchange Act of 1934
("Rule 13d-3"), Mr. Knott may be deemed to own beneficially 1,303,200 shares of
the Company's Common Stock, which represents 4.5% of all outstanding Common
Stock of the Company and includes all of the shares beneficially owned or deemed
to be beneficially owned by the persons named below in this Paragraph (a).
The Partnership beneficially owns 719,100 shares of the Company's
Common Stock, which represents 2.5% of all outstanding Common Stock of the
Company.
Pursuant to Rule 13d-3, Dorset may be deemed to own beneficially
522,100 shares of the Company's Common Stock, which represents 1.8% of all
outstanding Common Stock of the Company and includes all of the shares
beneficially owned by Matterhorn.
- --------------------
/1/ Based upon 28,684,687 shares of Common Stock reported by the Company
to be outstanding as of September 30, 1998.
Page 7 of 10
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Matterhorn beneficially owns 92,000 shares of the Company's Common
Stock, which represents 0.3% of all outstanding Common Stock of the Company.
Each of Mr. Knott, the Partnership, Dorset and Matterhorn disclaims
beneficial ownership of the securities beneficially owned by any other Reporting
Person. Mr. Knott disclaims beneficial ownership of the securities beneficially
owned by Mrs. Knott. The Reporting Persons disclaim beneficial ownership of the
securities beneficially owned by the Other Reporting Persons.
(b) Mr. Knott individually (i) has the sole power to vote and to
dispose of (1) 48,200 shares of the Company's Common Stock held in his and his
IRA's accounts and (2) 719,100 shares held in the Partnership's account, (ii)
shares with the respective account owners the power to vote and to dispose of
7,200 shares held by the accounts of his minor children, and (iii) shares with
the respective account owners the power to dispose of (but not to vote) 6,600
shares held by the accounts of Mrs. Knott and her IRA.
As President of Dorset, Mr. Knott (iv) has the sole power to vote and
to dispose of 430,100 shares of the Company's Common Stock and (v) shares with
the respective account owner the power to vote and to dispose of 92,000 shares
held in Matterhorn's account.
The Partnership (except through its sole general partner, Mr. Knott)
neither holds nor shares with any person the power to vote or to dispose of the
Company's Common Stock.
Matterhorn shares with Dorset and Mr. Knott the power to vote and to
dispose of 92,000 shares held by Matterhorn.
(c) Each transaction in the Common Stock made by Mr. Knott during the
past 60 days is described on Schedule 1 annexed hereto. All such transactions
were effected in the open market in ordinary brokerage transactions through
various broker-dealer firms.
(d) Of the 1,303,200 shares of Common Stock which may be deemed to be
beneficially owned by Mr. Knott, all but the 55,400 shares held in his and his
IRA's accounts and the accounts of his minor children are owned on behalf of
other persons or entities having the right to receive and the power to direct
the receipt of dividends from, and proceeds from the sale of, such shares. No
individual person or entity has such right with regard to greater than five
percent of the class of Common Stock.
(e) Not applicable.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT
TO SECURITIES OF THE ISSUER.
Item 6 is hereby amended to read in full as follows:
Notwithstanding certain discussions with the Company's management, to the
knowledge
Page 8 of 10
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of the Reporting Persons, there is no present understanding between the
Reporting Persons, the Other Reporting Persons and the Company. Except as
disclosed herein in connection with certain contacts with the Company's senior
management and related matters, there are no contracts, arrangements,
understandings or relationships required to be disclosed herein with respect to
the Company's securities between the Reporting Persons and the Other Reporting
Persons.
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.
/s/ David M. Knott
-----------------------------------------
DAVID M. KNOTT
KNOTT PARTNERS, L.P.
By: /s/ David M. Knott
---------------------------------------
David M. Knott, General Partner
DORSET MANAGEMENT CORPORATION
By: /s/ David M. Knott
---------------------------------------
David M. Knott, President
MATTERHORN OFFSHORE FUND LIMITED
By: Inter Caribbean Services, Ltd., Sole Director
By: /s/ Wiekert Weber
---------------------------------------
Wiekert Weber, Attorney-in-Fact A
---------------------------------
Dated: November 23, 1998
Page 9 of 10
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<TABLE>
<CAPTION>
SCHEDULE 1
TRANSACTION PERSON NAMED IN NUMBER PRICE PER
DATE ITEM 5, PARAGRAPH (a) TRANSACTION TYPE OF SHARES SHARE ($)
- ----------- ----------------------- -------------------- ----------- ----------
<S> <C> <C> <C> <C>
9/23/98 Mr. Knott/Dorset Purchase 4,800 4.43
10/8/98 Mr. Knott/Dorset Purchase 3,600 2.61
10/13/98 Mr. Knott/Dorset Purchase 3,400 2.40
10/28/98 Mr. Knott/Dorset Purchase 6,100 3.22
10/29/98 Mr. Knott/Dorset Purchase 4,100 3.24
10/30/98 Mr. Knott/Dorset Purchase 3,200 3.29
11/2/98 Mr. Knott/Dorset Purchase 8,100 3.57
11/3/98 Mr. Knott/Dorset Purchase 5,600 4.29
9/23/98 Mr. Knott/Partnership Purchase 6,300 4.43
10/8/98 Mr. Knott/Partnership Purchase 5,600 2.61
10/13/98 Mr. Knott/Partnership Purchase 6,600 2.40
10/28/98 Mr. Knott/Partnership Purchase 9,700 3.22
10/29/98 Mr. Knott/Partnership Purchase 7,200 3.24
10/30/98 Mr. Knott/Partnership Purchase 4,000 3.29
11/2/98 Mr. Knott/Partnership Purchase 12,000 3.57
11/3/98 Mr. Knott/Partnership Purchase 8,200 4.29
11/6/98 Mr. Knott/Partnership Purchase 62,900 4.49
9/23/98 Mr. Knott/Dorset/Matterhorn Purchase 500 4.43
10/8/98 Mr. Knott/Dorset/Matterhorn Purchase 800 2.61
10/28/98 Mr. Knott/Dorset/Matterhorn Purchase 2,200 3.22
10/29/98 Mr. Knott/Dorset/Matterhorn Purchase 700 3.24
10/30/98 Mr. Knott/Dorset/Matterhorn Purchase 600 3.29
11/2/98 Mr. Knott/Dorset/Matterhorn Purchase 1,900 3.57
11/3/98 Mr. Knott/Dorset/Matterhorn Purchase 1,200 4.29
</TABLE>
Page 10 of 10
