U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
|_| Check this box if no longer subject to Section 16. Form 4 or Form 5
obligations may continue. See Instruction 1(b).
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1. Name and Address of Reporting Person*
Knott, David M.
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(Last) (First) (Middle)
485 Underhill Blvd., Suite 205
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(Street)
Syosset, NY 11791
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
Columbia Laboratories, Inc. (COB)
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3. IRS Identification Number of Reporting Person, if an Entity (Voluntary)
###-##-####
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4. Statement for Month/Year
February, 2000
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5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person to Issuer
(Check all applicable)
|_| Director |_| 10% Owner
|_| Officer (give title below) |X| Other (specify below)
Member of a group described on Page 2
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7. Individual or Joint/Group Filing (Check Applicable Line)
|_| Form filed by one Reporting Person
|X| Form filed by more than one Reporting Person
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* If the Form is filed by more than one Reporting Person, see Instruction
4(b)(v).
<PAGE>
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Table I -- Non-Derivative Securities Acquired, Disposed of,
or Beneficially Owned
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<TABLE>
<CAPTION>
6.
4. 5. Owner-
Securities Acquired (A) or Amount of ship
3. Disposed of (D) Securities Form: 7.
Transaction (Instr. 3, 4 and 5) Beneficially Direct Nature of
2. Code ---------------------------- Owned at End (D) or Indirect
1. Transaction (Instr. 8) (A) of Month Indirect Beneficial
Title of Security Date ------------ Amount or Price (Instr. 3 (I) Ownership
(Instr. 3) (mm/dd/yy) Code V (D) and 4) (Instr.4) (Instr. 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
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Common Stock 2/14/00 S 25,000 D $7.34 I (1)(3)
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Common Stock 2/15/00 S 41,500 D $7.40 I (1)(3)
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Common Stock 2/17/00 S 25,000 D $8.14 I (1)(3)
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Common Stock 2/18/00 S 25,000 D $9.27 I (1)(3)
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Common Stock 2/22/00 S 15,000 D $9.45 I (1)(3)
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Common Stock 2/23/00 S 10,000 D $9.06 I (1)(3)
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Common Stock 2/23/00 S 10,000 D $9.06 D(2) (2)(3)
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Common Stock 2/23/00 S 2,000 D $9.06 827,400(4) I (1)(3)
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</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
Page 1 of 3
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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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<TABLE>
<CAPTION>
9. 10.
Number Owner-
of ship
2. Deriv- Form of
Conver- 5. 7. ative Deriv- 11.
sion Number of Title and Amount Secur- ative Nature
or Derivative 6. of Underlying 8. ities Secur- of
Exer- 4. Securities Date Securities Price Bene- ity: In-
cise 3. Trans- Acquired (A) Exercisable and (Instr. 3 and 4) of ficially Direct direct
Price Trans- action or Disposed Expiration Date ---------------- Deriv- Owned (D) or Bene-
1. of action Code of(D) (Month/Day/Year) Amount ative at End In- ficial
Title of Deriv- Date (Instr. (Instr. 3, ---------------- or Secur- of direct Owner-
Derivative ative (Month/ 8) 4 and 5) Date Expira- Number ity Month (I) ship
Security Secur- Day/ ------ ------------ Exer- tion of (Instr. (Instr. (Instr. (Instr.
(Instr. 3) ity Year) Code V (A) (D) cisable Date Title Shares 5) 4) 4) 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
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</TABLE>
Explanation of Responses:
David M. Knott, Knott Partners, L.P., Dorset Management Corporation,and
Matterhorn Offshore Fund Limited (the "Reporting Persons") may be deemed to be
members of a "group" for purposes of Section 13(d) of the Exchange Act. Each of
the Reporting Persons disclaims beneficial ownership of the securities
beneficially owned by any other Reporting Person. The "group" may also include
other persons identified in a Schedule 13D filed by Mr. Knott on July 16, 1998,
and amended on October 13, 1998, November 23, 1998, December 18, 1998, January
20, 1999 and February 8, 1999, whose transactions are not being reported herein.
Such other persons' beneficial ownership, when combined with Mr. Knott's
beneficial ownership, may exceed 10% of the Issuer's outstanding common stock.
The Reporting Persons disclaim beneficial ownership of the securities
beneficially owned by such other persons whose transactions are not being
reported herein.
(1) These securities may be beneficially owned by Dorset Management Corporation.
Pursuant to Rule 13d-3 under the Exchange Act, Dorset Management Corporation may
be a beneficial owner of the shares directly owned by its clients for whom it
exercises discretionary trading authority.
(2) These securities are directly owned by Knott Partners, L.P.
(3) These securities may be beneficially owned by Mr. Knott. Pursuant to Rule
13d-3 under the Exchange Act, Mr. Knott may be a beneficial owner of all of the
securities beneficially owned by Dorset Management Corporation and Knott
Partners, L.P., as those companies' sole shareholder/director and sole general
partner, respectively.
(4) Amount shown does not include shares of common stock underlying derivative
securities. Of the 827,400 shares which may be beneficially owned by Mr. Knott
pursuant to Rule 13d-3 at the end of the month reported herein, Matterhorn
Offshore Fund Limited beneficially owns 96,100 of such shares; Dorset Management
Corporation may be deemed to beneficially own 400,600 of such shares; and Knott
Partners, L.P. beneficially owns 410,000 of such shares.
** Intentional misstatements or omissions of facts constitute Federal Criminal
Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
/s/ David M. Knott
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** Signature of Reporting Person Date
Note: File three copies of this Form, one of which must be manually signed. If
space provided is insufficient, see Instruction 6 for procedure.
Page 2 of 3
<PAGE>
Joint Filer Information
Name: Knott Partners, L.P.
Address: 485 Underhill Blvd., Suite 205
Syosset, New York 11791
Designated Filer: David M. Knott
Issuer Ticker Symbol: Columbia Laboratories, Inc. (COB)
Statement for Month/Year: February, 2000
Signature: KNOTT PARTNERS, L.P.
By: /s/ David M. Knott
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David M. Knott, General Partner
Name: Dorset Management Corporation
Address: 485 Underhill Blvd., Suite 205
Syosset, New York 11791
Designated Filer: David M. Knott
Issuer Ticker Symbol: Columbia Laboratories, Inc. (COB)
Statement for Month/Year: February, 2000
Signature: DORSET MANAGEMENT CORPORATION
By: /s/ David M. Knott
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David M. Knott, President
Name: Matterhorn Offshore Fund Limited
Address: c/o Citco Fund Service (Curacao) N.V.
Kaya Flamboyan 9
P.O. Box 707
Curacao, Netherland Antilles
Designated Filer: David M. Knott
Issuer Ticker Symbol: Columbia Laboratories, Inc. (COB)
Statement for Month/Year: February, 2000
Signature: MATTERHORN OFFSHORE FUND LIMITED
By: INTER CARRIBEAN SERVICES, LTD.
As Sole Director
By: /s/ Annemieke van den Oever
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Annemieke van den Oever
