<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
SCHEDULE 13D
Information to be Included in Statements
Filed Pursuant to 13d-1(a) and Amendments
thereto filed pursuant to 13d-2(a)
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)
JULY 6, 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 11
<PAGE>
SCHEDULE 13D
CUSIP No.197779101
<TABLE>
<S> <C> <C>
===================================================================================================
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 917,900
Shares
Beneficially 8 Shared Voting Power 82,600
Owned by
Each 9 Sole Dispositive Power 917,900
Reporting
Person 10 Shared Dispositive Power 89,200
With
- ----------------------------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person 1,007,100
- ----------------------------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) Excludes
Certain Shares* [ ]
- ---------------------------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11) 3.5 %
- ---------------------------------------------------------------------------------------------------
14 Type of Reporting Person* IN
===================================================================================================
</TABLE>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 2 of 11
<PAGE>
SCHEDULE 13D
CUSIP No.197779101
<TABLE>
<S> <C> <C>
====================================================================================================
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 524,000
Shares
Beneficially 8 Shared Voting Power
Owned by
Each 9 Sole Dispositive Power 524,000
Reporting
Person 10 Shared Dispositive Power
With
- ---------------------------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person 524,000
- ---------------------------------------------------------------------------------------------------
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* PN
===================================================================================================
</TABLE>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 3 of 11
<PAGE>
SCHEDULE 13D
CUSIP No.197779101
<TABLE>
<S> <C> <C>
====================================================================================================
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* 00
- ----------------------------------------------------------------------------------------------------
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 345,700
Shares
Beneficially 8 Shared Voting Power 75,400
Owned by
Each 9 Sole Dispositive Power 345,700
Reporting
Person 10 Shared Dispositive Power 75,400
With
- ----------------------------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person 421,100
- ----------------------------------------------------------------------------------------------------
12 Check Box if the Aggregate Amount in Row (11) Excludes
Certain Shares*
- ----------------------------------------------------------------------------------------------------
13 Percent of Class Represented by Amount in Row (11) 1.5 %
- ----------------------------------------------------------------------------------------------------
14 Type of Reporting Person* CO
====================================================================================================
</TABLE>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 4 of 11
<PAGE>
SCHEDULE 13D
CUSIP No.197779101
<TABLE>
<CAPTION>
<S> <C> <C>
====================================================================================================
1 Name of Reporting Person Mattterhorn 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 75,400
Owned by
Each 9 Sole Dispositive Power
Reporting
Person 10 Shared Dispositive Power 75,400
With
- --------------------------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person 75,400
- --------------------------------------------------------------------------------------------------
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
===================================================================================================
</TABLE>
*SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 5 of 11
<PAGE>
SCHEDULE 13-D
ITEM 1. SECURITY AND ISSUER
The class of securities to which this statement relates is the common
stock, par value $.01 per share (the "Common Stock"), of Columbia Laboratories,
Inc., a Delaware corporation (the "Company"), the address of which is 2665 South
Bayshore Drive, Miami, FL 33133 (Tel.: 305-860-1670).
ITEM 2. IDENTITY AND BACKGROUND
This statement is being filed by (i) David M. Knott, an individual
whose business address is 485 Underhill Boulevard, Syosset, New York 11791,
(ii) Knott Partners, L.P., whose business address is also 485 Underhill
Boulevard, Syosset, New York 11791, (iii) Dorset Management Corporation, whose
business address is also 485 Underhill Boulevard, Syosset, New York 11791, and
(iv) Matterhorn Offshore Fund Limited, whose business address is c/o Citco Fund
Services (Curacao) N.V., Kaya Flamboyan 9, P.O. Box 707, Curacao, Netherlands
Antilles.
David M. Knott files this statement on his own behalf and on behalf of
his wife, their individual retirement accounts and their minor children.
He also files this statement as the sole general partner of Knott
Partners, L.P. (the "Partnership"), a New Jersey limited partnership that
invests in securities that are sold in the public markets. The Partnership's
principal activity is the acquisition of long and short positions in equity
securities of publicly traded U.S. and foreign securities. The Partnership has
the authority to employ various trading and hedging techniques and strategies in
connection therewith.
Mr. Knott is also the sole shareholder, Director and President of
Dorset Management Corporation, a New York corporation ("Dorset"), which provides
portfolio management services to a limited number of foreign and domestic
individuals and entities, including Matterhorn Offshore Fund Limited
("Matterhorn"), a British Virgin Islands corporation whose principal activity is
the acquisition of long and short positions in equity securities of publicly
traded U.S. and foreign corporations.
Matterhorn's sole director is Inter Caribbean Services, Ltd., an
affiliate of Citco B.V.I. Limited ("CBVI"), a British Virgin Islands corporation
whose business address is c/o Citco B.V.I. Limited, Wickhams Cay, P.O. Box 662,
Road Town, Tortola, British Virgin Islands. The name, address and principal
occupation or employment of each of the directors of Inter Caribbean Services,
Ltd..is as follows:
<TABLE>
<CAPTION>
<S> <C> <C>
Name Address Principal Occupation or Employment
- ------------------- ------------------------ --------------------------------------------
Kariem Abdellatif c/o Citco B.V.I. Limited Managing Director, CBVI
Fay Roberts c/o Citco B.V.I. Limited Assistant Managing Director, CBVI
A. J. Stocks c/o Citco B.V.I. Limited Director, Citco Fund Services (Curacao) N.V.
</TABLE>
Page 6 of 11
<PAGE>
During the last five years, neither Mr. Knott nor any of the other
persons named above has been convicted in any criminal proceeding, nor has or
any such other person been a party to a civil proceeding of a judicial or
administrative body of competent jurisdiction as a result of which he was or is
subject to any judgment, decree or final order enjoining future violations of,
or prohibiting or mandating activities subject to, federal or state securities
laws, or finding any violation with respect to such laws.
Mr. Knott, Mrs. Knott and their children are all citizens of the
United States of America. Mr. Abdellatif is a Dutch citizen, Fay Roberts is a
citizen of the British Virgin Islands, and Mr. Stocks is a British citizen.
.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
The source of funds used by Mr. Knott in purchasing the Common Stock
directly for his own account and for the accounts of the above-named members of
his immediate family was their respective personal funds. The source of funds
used in making each of the acquisitions of the Common Stock purchased indirectly
by Mr. Knott through the Partnership, the other persons named in Item 2 above
and certain other accounts for which Dorset provides management services on
whose behalf the Common Stock was acquired was the portfolio assets of the
Partnership and each of such other persons.
The aggregate amount of consideration used by Mr. Knott in making such
acquisitions was $11,045,443. This amount includes all purchases of the Common
Stock made by Mr. Knott, 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:
<TABLE>
<CAPTION>
SOURCE AMOUNT
- ------------------------------------------------------------------------- -----------
<S> <C>
Mr. David M. Knott (includes Mr. Knott's IRA) $ 586,950
Mrs. David M. Knott (includes Mrs. Knott's IRA and the accounts of the 166,041
Knotts' minor children)
Knott Partners, L.P. 5,396,662
Matterhorn Offshore Fund Limited 686,546
The Common Fund 2,805,234
GAM Knott Hedge Investments, Inc. 905,753
Trinkaus Optima US Equities 478,681
Leonard & Margaret Frierman 19,576
-----------
TOTAL $11,045,443
===========
</TABLE>
Page 7 of 11
<PAGE>
ITEM 4. PURPOSE OF TRANSACTION
The acquisition of the Common Stock by Mr. Knott and the other persons
named in Item 2 above was originally made solely for investment purposes, and
not with a view towards influencing any extraordinary corporate transaction, any
change in the Company's board of directors or management or any other change in
the Company's business, corporate structure or capitalization.
Following conversations with the persons named in the response to Item
6 below, efforts to participate on or otherwise change the Company's board of
directors or management and/or changes in the Company's business strategy may be
pursued by Mr. Knott, either alone or in conjunction with such other persons.
ITEM 5. INTEREST IN SECURITIES OF THE COMPANY
(a) Mr. Knott beneficially owns 1,007,100 shares of the Company's
Common Stock, which represents 3.5% of all outstanding Common Stock of the
Company and includes all of the shares beneficially owned by the persons named
below in this Paragraph (a).
The Partnership beneficially owns 524,000 shares of the Company's
Common Stock, which represents 1.8% of all outstanding Common Stock of the
Company.
Dorset beneficially owns 421,100 shares of the Company's Common Stock,
which represents 1.5% of all outstanding Common Stock of the Company and
includes all of the shares beneficially owned by Matterhorn.
Matterhorn beneficially owns 75,400 shares of the Company's Common
Stock, which represents 0.3% of all outstanding Common Stock of the Company.
(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) 524,000 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 Mr. Knott's 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 345,700 shares of the Company's Common Stock and (v) shares with
the respective account owner the power to vote and to dispose of 75,400 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 75,400 shares held by Matterhorn.
Page 8 of 11
<PAGE>
(c) Each transaction in the Common Stock made by the persons named in
Paragraph (a) of this Item 5 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 1,007,100 shares of Common Stock 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 COMPANY
Mr. Knott is the general partner of the Partnership and acts on its
behalf in accordance with its agreement of limited partnership. Through Dorset,
Mr. Knott manages Matterhorn's securities portfolio pursuant to a written
portfolio management agreement. Except as noted, there are no contracts,
arrangements, understandings or relationships (legal or otherwise) among the
persons named in Item 2 above.
Mr. Knott has had conversations with Messrs. James Apostolakis and
Anthony R. Campbell and others, including members of the Company's management,
concerning the Company's recent performance with a view to effecting changes in
the Company's board of directors or management and/or changes in the Company's
business strategy. Notwithstanding these conversations, to date no arrangements
or understandings have been reached with management of the Company. Mr. Knott
has agreed on behalf of the persons named in Item 2 above, to share with Messrs
Apostolakis and Campbell and certain other persons and entities affiliated with
them the costs of common counsel to pursue these activities. Accordingly, such
persons may be deemed to constitute a group, the other members of which are
filing separate Schedules 13D.
ITEM 7. MATERIALS TO BE FILED AS EXHIBITS
Not applicable.
Page 9 of 11
<PAGE>
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: July 16, 1998
Page 10 of 11
<PAGE>
<TABLE>
<CAPTION>
TRANSACTION PERSON NAMED IN NUMBER PRICE PER
- ----------- TRANSACTION TYPE ------------ ----------
DATE ITEM 5, PARAGRAPH (A) ----------------------- OF SHARES SHARE ($)
- ----------- ----------------------------- ------------ ----------
<C> <S> <C> <C> <C>
5/12/98 Mr. Knott/Partnership Purchase 3,600 9.45
5/12/98 Mr. Knott/Dorset/Matterhorn Purchase 2,400 9.45
6/01/98 Mr. Knott/Dorset/Matterhorn Redemption Distribution (90,900)/1/ 8.44
6/01/98 Mr. Knott/Dorset Capital Contribution 90,900 /1/ 8.44
6/02/98 Mr. Knott/Dorset/Matterhorn Purchase 10,000 7.51
6/04/98 Mr. Knott/Dorset/Matterhorn Purchase 10,000 7.00
6/08/98 Mr. Knott/Dorset/Matterhorn Purchase 12,000 7.18
6/11/98 Mr. Knott/Dorset Sale (18,000)/2/ 6.80
6/11/98 Mr. Knott/Dorset/Matterhorn Purchase 6,000 /2/ 6.82
6/11/98 Mr. Knott/Dorset Purchase 12,000 /2/ 6.82
6/12/98 Mr. Knott/Dorset Purchase 5,700 6.96
6/12/98 Mr. Knott/Dorset/Matterhorn Purchase 3,300 6.96
6/12/98 Mr. Knott/Partnership Purchase 4,000 6.96
6/17/98 Mr. Knott/Dorset/Matterhorn Purchase 2,000 6.20
6/17/98 Mr. Knott/Partnership Purchase 8,000 6.20
6/19/98 Mr. Knott/Partnership Purchase 8,000 6.24
6/22/98 Mr. Knott/Dorset Purchase 5,000 6.18
6/25/98 Mr. Knott/Dorset Purchase 4,000 6.25
6/25/98 Mr. Knott/Partnership Purchase 8,000 6.25
6/30/98 Mr. Knott/Dorset Purchase 1,400 5.92
6/30/98 Mr. Knott/Partnership Purchase 4,000 5.92
6/30/98 Mr. Knott/Dorset/Matterhorn Purchase 600 5.92
7/08/98 Mr. Knott/Dorset Purchase 4,000 5.54
7/08/98 Mr. Knott/Partnership Purchase 14,000 5.54
7/08/98 Mr. Knott/Dorset/Matterhorn Purchase 2,000 5.54
7/09/98 Mr. Knott/Partnership Purchase 10,000 7.08
</TABLE>
________________________________
/1/ These are related transactions not involving a purchase or sale
which reduced Matterhorn's beneficial ownership but did not change the
total number of shares beneficially owned by Mr. Knott or by Dorset as of
such date.
/2/ These transactions represent crossed stock exchange transactions in which
shares were purchased and sold by certain accounts managed by Mr. Knott/Dorset
such that the total number of shares beneficially owned by Mr. Knott and by
Dorset as of such date did not change.
Page 11 of 11
