U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 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 of 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
Reiner Thomas Francis
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(Last) (First) (Middle)
4478 Fleetwood Road
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(Street)
Danville CA 94506
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
Sparta Surgical Corporation (SPSG
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3. IRS or Social Security Number of Reporting Person (Voluntary)
###-##-####
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4. Statement for Month/Year
04/00
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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)
[ X ] Director [ ] 10% Owner
[ X ] Officer (give title below) [ ] Other (specify below)
Chairman, President and CEO
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<TABLE>
<CAPTION>
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Table I -- Non-Derivative Securities Acquired, Disposed of,
or Beneficially Owned
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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>
Common Stock-See Note #1 04/21/00 J 501,000 A $0.59 2,039,211 D See Note #1
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Common Stock-See Note #3 04/21/00 J 3,664,439 A $0.0 5,703,650 I See Note #3
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</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly
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<TABLE>
<CAPTION>
FORM 4 (continued)
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Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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9. 10.
Number Owner-
of ship
2. Deriv- of
Conver- 5. 7. ative Deriv- 11.
sion Number of Title and Amount Secur- ative Nature
of 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> <C>
Common
Stock Options $1.10 02/02/00 A 500,000 02/02/00 02/02/07 Stock 500,000 1,780,335 D
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Common
Stock Options $1.37 03/07/00 A 50,000 03/07/00 03/07/07 Stock 50,000 1,830,335 D
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Common
Stock Options $1.65 03/02/00 A 500,000 03/02/00 03/20/07 Stock 500,000 2,330,335 D
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Common
Stock Options $1.00 05/10/00 A 100,000 05/10/00 05/10/07 Stock 100,000 2,430,335 D
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Common
Stock Options $0.59 03/27/00 A 50,000 03/27/00 03/20/07 Stock 50,000 2,480,335 D
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Common
Warrants $1.90 03/20/00 A 10,000 03/20/00 03/20/03 Stock 10,000 652,500 I See Note #3
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Common
Warrants $1.00 02/28/00 A 500,000 02/28/00 09/09/00 Stock 500,000 1,152,500 I See Note #3
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Common
Warrants $1.40 04/12/00 A 24,000 04/12/00 04/12/03 Stock 24,000 1,176,500 I See Note #3
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Common
Warrants $1.25 04/25/00 A 50,000 04/25/00 04/25/03 Stock 50,000 1,226,580 I See Note #3
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Common
Warrants $1.00 04/25/00 A 25,000 04/25/00 04/25/03 Stock 25,000 1,251,500 I See Note #3
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Common
Warrants $5.00 03/21/00 A 500,000 03/21/00 09/06/46 Stock 500,000 1,751,500 I See Note #3
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</TABLE>
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Explanation of Responses:
Note #1 - Held by the Reporting Person as Trustee for the Company and subject to
an Escrow Agreement by and between the Reporting Person and the
Company, - 1,902,986
Note #2 - Held by the Reporting Person as Trustee - 10,417 for Arbora, A.G.
Note #3 - Held by the Reporting Person as Trustee - 52,500 for Nations Credit
Commercial Funding Corp.; 150,000 for L. Reiner; 50,000 for SJS
Holding Inc.; 400,000 for IGC of New York, Inc.; 1,772,000 for Spags,
N.V.; 212,000 for Royce Walker, LLC; 240,000 for FBO John Weller, IRA;
16,500 for Selinger Capital, LLC; 175,000 for Sheldon Kabaker, M.D.;
60,000 for Sheldon Kabaker and its Assignee; 1,135,000 for Spags,
N.V.; 15,000 for H. Bronson; 290,000 for Flynn, von Schubert and
Associates; 67,200 for Andreas T. Glapiak; 271,066 for Arne Jensen;
25,000 for Elizabeth Frazier, 80,100 for Frank Colaccino, 96,120 for
Bruce Haverberg; 59,274 for William Gilmore Trust; 53,010 for Stephen
Axelrod; 16,020 for Kenneth Robbins; 40,000 for IGC of New York, Inc.;
180,333 for J. Victor Samuels; 45,266 for Pepper Frazier; 25,000 for
John O'Hanlon; 15,000 for Teresa Sun; 10,000 for Scott von der Lieth;
75,000 for Lisa Reiner; 45,000 for Robert Phillips.
/s/ Thomas F. Reiner 05/24/00
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**Signature of Reporting Person Date
** 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.
If space provided is insufficient, see Instruction 6 for procedures.
