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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Schedule 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
NOVEN PHARMACEUTICALS, INC.
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(Name of Issuer)
COMMON STOCK, $.0001 PAR VALUE
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(Title of Class of Securities)
670009-10-9
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(Cusip Number)
JEFFREY F. EISENBERG, 11960 S.W. 144TH STREET, MIAMI, FL 33186 (305) 253-5099
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
AUGUST 25, 2000
---------------
(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 that is the subject of this Schedule 13D, and is filing this
schedule because of Sections 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check
the following box. [ ]
NOTE: Schedules filed in paper format shall include a signed original and five
copies of this schedule, including all exhibits. See Section 240.13d-7 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
disclosures provided in a prior cover page.
The information required on 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.
(Continued on following page(s))
Page 1
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CUSIP NO. 670009-10-9 13D PAGE 2
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(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
STEVEN SABLOTSKY
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ X ]
(b) [ ]
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(3) SEC USE ONLY
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(4) SOURCE OF FUNDS*
00
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(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS [ ]
IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
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(6) CITIZENSHIP OR PLACE OF ORGANIZATION
USA
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NUMBER OF (7) SOLE VOTING POWER
SHARES
BENEFICIALLY 1,117,106
OWNED BY --------------------------------------------------------
EACH (8) SHARED VOTING POWER
REPORTING
PERSON WITH 0
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(9) SOLE DISPOSITIVE POWER
1,117,106
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(10) SHARED DISPOSITIVE POWER
0
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(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,117,106
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(12) CHECK BOX IF AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
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(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.1%
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(14) TYPE OF REPORTING PERSON*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 3
CUSIP NO. 670009-10-9 13D PAGE 3
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(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
NEVON VENTURES LIMITED PARTNERSHIP
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ X ]
(b) [ ]
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(3) SEC USE ONLY
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(4) SOURCE OF FUNDS*
00
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(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS [ ]
IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
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(6) CITIZENSHIP OR PLACE OF ORGANIZATION
NEVADA
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NUMBER OF (7) SOLE VOTING POWER
SHARES
BENEFICIALLY 0
OWNED BY --------------------------------------------------------
EACH (8) SHARED VOTING POWER
REPORTING
PERSON WITH 694,100
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(9) SOLE DISPOSITIVE POWER
0
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(10) SHARED DISPOSITIVE POWER
694,100
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(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
694,100
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(12) CHECK BOX IF AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
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(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.2%
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(14) TYPE OF REPORTING PERSON*
PN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 4
CUSIP NO. 670009-10-9 13D PAGE 4
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(1) NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
NEVON, INC.
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(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ X ]
(b) [ ]
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(3) SEC USE ONLY
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(4) SOURCE OF FUNDS*
00
---------------------------------------------------------------------
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS [ ]
IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
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(6) CITIZENSHIP OR PLACE OF ORGANIZATION
NEVADA
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NUMBER OF (7) SOLE VOTING POWER
SHARES
BENEFICIALLY 0
OWNED BY --------------------------------------------------------
EACH (8) SHARED VOTING POWER
REPORTING
PERSON WITH 694,100
--------------------------------------------------------
(9) SOLE DISPOSITIVE POWER
0
--------------------------------------------------------
(10) SHARED DISPOSITIVE POWER
694,100
--------------------------------------------------------
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
694,100
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(12) CHECK BOX IF AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
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(13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.2%
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(14) TYPE OF REPORTING PERSON*
CO
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE> 5
AMENDMENT NO. 1 TO SCHEDULE 13D
Item 1. SECURITY AND ISSUER.
This Amendment No. 1 to Schedule 13D is filed jointly by Steven
Sablotsky, Nevon Ventures Limited Partnership (the "Partnership") and Nevon,
Inc. (collectively, the "Reporting Persons"), with respect to the Common Stock,
$.0001 par value (the "Common Stock"), of Noven Pharmaceuticals, Inc. (the
"Issuer"). The principal executive offices of the Issuer are located at 11960
S.W. 144th Street, Miami, Florida, 33186.
Item 5. INTEREST IN SECURITIES OF THE ISSUER.
Item 5 is amended and restated in its entirety as follows:
As of the date of this Amendment No. 1 to Schedule 13D, the Reporting
Persons beneficially owned the following amounts of Shares:
Amount of Shares Percentage of
Name Beneficially Owned Class(1)
---- ------------------ --------
Steven Sablotsky(2) 1,117,106 5.1%
Nevon Ventures 694,100 3.2%
Limited Partnership
Nevon, Inc. 694,100 3.2%
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(1) Based on 22,027,668 Shares of Common Stock issued and outstanding as
reported on the Issuer's Form 10-Q for the quarterly period ended June
30, 2000 filed on August 11, 2000.
(2) Includes 694,100 Shares held by the Partnership, a limited partnership
of which Mr. Sablotsky is the sole limited partner. The Partnership is
controlled by its sole general partner, Nevon, Inc. Mr. Sablotsky is
the sole shareholder, director and officer of Nevon, Inc. Also includes
334,998 Shares owned directly by Mr. Sablotsky and options to purchase
88,008 Shares owned directly by Mr. Sablotsky and exercisable within 60
days of this report on Schedule 13D.
The Partnership shares the power to vote or dispose of the Shares
beneficially owned by it with Nevon, Inc. and Mr. Sablotsky. Nevon, Inc., in its
capacity as the general partner of the Partnership, has the power to vote or
direct the vote of these Shares or to dispose or direct the disposition of the
Shares for the Partnership. Nevon, Inc. will be deemed the beneficial owner of
the Shares owned by the Partnership by virtue of this relationship to the
Partnership. Mr. Sablotsky, in his capacity as the sole shareholder, a director
and an officer of Nevon, Inc., the general partner of the Partnership, will be
deemed the beneficial owner of all Shares owned by the Partnership by virtue of
his power to vote or direct the vote of the Shares or to dispose or direct the
disposition of the Shares owned by the Partnership.
Except as set forth in Exhibit 2, there have been no transactions by
the Reporting Persons in the Common Stock effected during the past 60 days.
Item 7. MATERIAL TO BE FILED AS EXHIBITS.
1 Joint Filing Agreement.
2. Description of Transactions in the Issuer's Shares by Steven
Sablotsky.
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SIGNATURES
After reasonable inquiry and to the best of the undersigned's knowledge
and belief, the undersigned certify that the information set forth in this
Statement is true, complete and correct.
Date: September 21, 2000 /s/ Steven Sablotsky
-----------------------------------
Steven Sablotsky
NEVON VENTURES LIMITED PARTNERSHIP,
a Nevada limited partnership
By: NEVON, INC., a Nevada corporation and
its General Partner
Date: September 21, 2000 By: /s/ Steven Sablotsky
-----------------------------------
Steven Sablotsky, President
NEVON, INC., a Nevada corporation
Date: September 21, 2000 By: /s/ Steven Sablotsky
-----------------------------------
Steven Sablotsky, President
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EXHIBIT 1
JOINT FILING AGREEMENT
The undersigned hereby agree that this Amendment to the Schedule 13D
filed by us with respect to the Common Stock of Noven Pharmaceuticals, Inc. is
filed on behalf of each of us.
Date: September 21, 2000 /s/ Steven Sablotsky
-----------------------------------
Steven Sablotsky
NEVON VENTURES LIMITED PARTNERSHIP,
a Nevada limited partnership
By: NEVON, INC., a Nevada corporation and
its General Partner
Date: September 21, 2000 By: /s/ Steven Sablotsky
-----------------------------------
Steven Sablotsky, President
NEVON, INC., a Nevada corporation
Date: September 21, 2000 By: /s/ Steven Sablotsky
-----------------------------------
Steven Sablotsky, President
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EXHIBIT 2
DESCRIPTION OF TRANSACTIONS
Set forth below is a summary of transactions of beneficial ownership in
the Shares of the Issuer by the Reporting Persons, effected during the sixty
days proceeding the date of this Amendment No. 1. These transactions consist of
open market sales and a gift.
<TABLE>
<CAPTION>
STOCK DISPOSAL DATE/ DATE OF NUMBER OF SHARES
GIFT SOLD/GIFTED PRICE PER SHARE TYPE OF TRANSACTION
----------------------------- ----------------- --------------- -------------------
<S> <C> <C> <C>
7/25/00 2,000 N/A Gift
8/14/00 55,000 $ 33.845 Open Market Sale
8/15/00 45,500 $ 33.693 Open Market Sale
8/16/00 117,000 $ 33.791 Open Market Sale
8/17/00 67,000 $ 32.536 Open Market Sale
8/18/00 181,000 $ 32.817 Open Market Sale
8/21/00 131,000 $ 32.322 Open Market Sale
8/22/00 129,000 $ 31.950 Open Market Sale
8/23/00 114,500 $ 31.661 Open Market Sale
8/24/00 110,000 $ 31.009 Open Market Sale
8/25/00 62,500 $ 29.891 Open Market Sale
8/28/00 47,500 $ 29.794 Open Market Sale
</TABLE>
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