SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
AMENDMENT NO. 3
to
SCHEDULE 13D
Under the Securities Exchange Act of 1934
Columbia Laboratories, Inc.
---------------------------
(Name of Issuer)
Common Stock, $.01 par value
----------------------------
(Title of Class of Securities)
197779101
---------
(CUSIP Number)
James J. Apostolakis
c/o Lexington Shipping and Trading Corp.
950 Third Avenue, 27th Floor
New York, New York 10022
(212) 588-1900
--------------
(Name, Address and Telephone Number of
Person Authorized to Receive Notices
and Communications)
November 4, 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: |_|
<PAGE>
<TABLE>
<CAPTION>
SCHEDULE 13D
CUSIP No. 197779101
- -------------------
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
James J. Apostolakis
- -------------------------------------------------------------------------------------------------
<S> <C>
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)|X| *
(b)|_|
* Disclaimed
- -------------------------------------------------------------------------------------------------
3) SEC USE ONLY
- -------------------------------------------------------------------------------------------------
4) SOURCE OF FUNDS
PF,WC
- -------------------------------------------------------------------------------------------------
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e)
- -------------------------------------------------------------------------------------------------
6) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- -------------------------------------------------------------------------------------------------
7) SOLE VOTING POWER
926,000 (See Item 5)
NUMBER
------------------------------------------------------------------------
OF 8) SHARED VOTING POWER
SHARES Not Applicable
BENEFICIALLY
------------------------------------------------------------------------
OWNED BY 9) SOLE DISPOSITIVE POWER
EACH 926,000 (See Item 5)
REPORTING
------------------------------------------------------------------------
PERSON 10) SHARED DISPOSITIVE POWER
WITH Not Applicable
- -------------------------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
926,000 (See Item 5)
- -------------------------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES |_|
- -------------------------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.2 %
- -------------------------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON
IN
- -------------------------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
CUSIP No. 197779101
- -------------------
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
David Ray
- -------------------------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)|X| *
(b)|_|
*Disclaimed
- -------------------------------------------------------------------------------------------------
3) SEC USE ONLY
- -------------------------------------------------------------------------------------------------
4) SOURCE OF FUNDS
PF
- -------------------------------------------------------------------------------------------------
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) |_|
- -------------------------------------------------------------------------------------------------
6) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- -------------------------------------------------------------------------------------------------
7) SOLE VOTING POWER
214,000
NUMBER
------------------------------------------------------------------------
OF 8) SHARED VOTING POWER
SHARES Not Applicable
BENEFICIALLY
------------------------------------------------------------------------
OWNED BY 9) SOLE DISPOSITIVE POWER
EACH 214,000
REPORTING
------------------------------------------------------------------------
PERSON 10) SHARED DISPOSITIVE POWER
WITH Not Applicable
- -------------------------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
214,000
- -------------------------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES |_|
- -------------------------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.7 %
- -------------------------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON
IN
- -------------------------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
CUSIP No. 197779101
- -------------------
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Bernard Marden
- -------------------------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)|X| *
(b)|_|
*Disclaimed
- -------------------------------------------------------------------------------------------------
3) SEC USE ONLY
- -------------------------------------------------------------------------------------------------
4) SOURCE OF FUNDS
PF
- -------------------------------------------------------------------------------------------------
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) |_|
- -------------------------------------------------------------------------------------------------
6) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- -------------------------------------------------------------------------------------------------
7) SOLE VOTING POWER
473,700
NUMBER
------------------------------------------------------------------------
OF 8) SHARED VOTING POWER
SHARES Not Applicable
BENEFICIALLY
------------------------------------------------------------------------
OWNED BY 9) SOLE DISPOSITIVE POWER
EACH 473,700
REPORTING
------------------------------------------------------------------------
PERSON 10) SHARED DISPOSITIVE POWER
WITH Not Applicable
- -------------------------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
473,700
- -------------------------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES |_|
- -------------------------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.7 %
- -------------------------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON
IN
- -------------------------------------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
CUSIP No. 197779101
- -------------------
1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Christopher Castroviejo
- -------------------------------------------------------------------------------------------------
2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)|X| *
(b)|_|
*Disclaimed
- -------------------------------------------------------------------------------------------------
3) SEC USE ONLY
- -------------------------------------------------------------------------------------------------
4) SOURCE OF FUNDS
WC
- -------------------------------------------------------------------------------------------------
5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) OR 2(e) |_|
- -------------------------------------------------------------------------------------------------
6) CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- -------------------------------------------------------------------------------------------------
7) SOLE VOTING POWER 0 (See Item 5)
NUMBER
------------------------------------------------------------------------
OF 8) SHARED VOTING POWER
SHARES Not Applicable
BENEFICIALLY
------------------------------------------------------------------------
OWNED BY 9) SOLE DISPOSITIVE POWER
EACH 0 (See Item 5)
REPORTING
------------------------------------------------------------------------
PERSON 10) SHARED DISPOSITIVE POWER
WITH Not Applicable
- -------------------------------------------------------------------------------------------------
11) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
0 (See Item 5)
- -------------------------------------------------------------------------------------------------
12) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES |_|
- -------------------------------------------------------------------------------------------------
13) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0 %
- -------------------------------------------------------------------------------------------------
14) TYPE OF REPORTING PERSON
IN
- -------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
Schedule 13D
------------
Item 1 of the Schedule 13D, "Security and Issuer," is amended and restated in
its entirety as follows:
This Statement amends the Schedule 13D dated July 16, 1998, as
amended by Amendment No. 1 filed on July 23, 1998 and by Amendment No. 2 filed
on October 6, 1998 (the "Schedule 13D"), filed by James J. Apostolakis and the
other Reporting Persons named therein relating to the Common Stock, $.01 par
value (the "Common Stock"), of Columbia Laboratories, Inc., a Delaware
corporation (the "Company"). Notwithstanding this Amendment No. 3, the Schedule
13D speaks as of this date. Capitalized terms used herein without definition
have the meanings assigned to them in the Schedule 13D, except for "Reporting
Persons," as explained below.
In each case, the filing of the Schedule 13D and Amendments
thereto does not constitute an admission that the Reporting Persons constitute 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 any of the other Reporting Persons or any other person.
Although included in the prior Schedule 13D filing, Anthony R.
Campbell will file a separate Schedule 13D which reflects his beneficial
ownership and the beneficial ownership of the Campbell Entities of Common
Shares. All references to the "Reporting Persons" shall include all of the
previous persons filing this Schedule 13D except for Mr. Campbell.
Item 2 (a) - (c) of the Schedule 13D, "Identity and Background," is amended to
amend and restate the second paragraph thereof in
its entirety as follows:
An aggregate of 4,315,100 shares of common stock, representing
approximately 15% of the shares of outstanding Common Stock, were beneficially
owned by the various Reporting Persons included in this Schedule 13D together
with Mr. Anthony R. Campbell (who has filed a separate schedule 13D) and Mr.
David Knott (who has filed a separate Schedule 13D), as of November 4, 1998.
Item 3 of the Schedule 13D, "Source and Amount of Funds or other Consideration,"
is amended to amend and restate the first
sentence thereof in its entirety as follows:
As of November 4, 1998, the various Reporting Persons
beneficially owned an aggregate of 1,613,700 shares of Common Stock, all of
which were acquired on the open market over the
<PAGE>
course of time at then-current prices for an aggregate consideration of
approximately $32,845,499.
Items 5 (a) and (c) of the Schedule 13D, "Interest in Securities of the Issuer,"
are amended and restated in their entirety as follows:
(a) An aggregate of 4,315,100 shares of Common Stock,
representing approximately 15% of the shares of outstanding Common Stock, were
beneficially owned by the various Reporting Persons included in this Schedule
13D together with Mr. Anthony R. Campbell (who has filed a separate Schedule
13D) and Mr. David Knott (who has filed a separate Schedule 13D), as of November
4, 1998.
The various Reporting Persons included in this Schedule 13D
beneficially own an aggregate of 1,613,700 shares of Common Stock, representing
approximately 5.6% of the shares of outstanding Common Stock.1
An additional 1,240,300 shares of Common Stock, representing an
additional approximately 4.3% of the shares of the outstanding Common Stock,
were beneficially owned by David Knott as of November 4, 1998 including
1,155,500 shares reported in a Schedule 13D separately filed and an aggregate of
84,800 shares of Common Stock purchased since that filing.
An additional 1,461,100 shares of Common Stock, representing an
additional approximately 5.1% of the shares of outstanding Common Stock, were
beneficially owned by Anthony R. Campbell as of November 4, 1998, reported in a
Schedule 13D separately filed.
The following table sets forth the number of shares of Common
Stock beneficially owned by each of the Reporting Persons as of November 4, 1998
and the percentage of the outstanding Common Stock such ownership represents.
Item 2 sets forth the entities which own Common Stock of which Mr. Apostolakis
or Mr.
Castroviejo may be deemed beneficial owners.
Percentage of
Reporting Shares of Outstanding
Person Common Stock Common Stock
- ------ ------------ ------------
Mr. Apostolakis 926,0002/2/ 3.2
Mr. Ray 214,000 0.7
- ------------------------------
/1/ Based upon 28,684,687 shares of Common Stock reported by the Company to be
outstanding as of July 31, 1998.
/2/ Not including certain non-qualified options, not presently exercisable,
to purchase 50,000 shares at a price of $11.625 granted on February 2, 1998.
<PAGE>
Mr. Marden 473,700 1.7
Mr. Castroviejo/3/ 0 0
The following table sets forth the number of shares of Common Stock
owned by the Apostolakis Entities as of November 4, 1998.
Percentage of
Apostolakis Shares of Outstanding
Entity Common Stock Common Stock
- ------ ------------ ------------
Lexington Corp. 68,500 0.2
Bradmar Corp. 57,850 0.2
Bradford Inc. 42,500 0.1
Pension Plans 17,625 0.06
Additionally, Mr. Apostolakis individually owns 739,525 shares of Common
Stock, representing approximately 2.6% of the outstanding Common Stock.
The following table sets forth the number of shares of Common Stock
owned by the Castroviejo Entities as of November 4, 19984.
Percentage of
Castroviejo Shares of Outstanding
Entity Common Stock Common Stock
- ------ ------------ ------------
International Parallax 0 0
Parallax LP 0 0
Mr. Castroviejo and the Castroviejo Entities no longer hold any shares
of Common Stock as of November 4, 1998.
Each of the Reporting Persons expressly disclaims beneficial ownership
of any Common Stock beneficially owned by any of the other Reporting Persons or
any other person.
- -------------------------------
/3/ Through his position as a general partner of TC Management, the sole general
partner of Windsor LP, Mr. Castroviejo may also be deemed to beneficially own
shares of Common Stock, owned by Windsor LP, as to which he disclaims beneficial
ownership. The above table reflects only Mr. Castroviejo's position as president
of the manager of International Parallax and general partner of Parallax LP.
(see Item 2).
/4/ Formerly International Parallax owned 15,000 shares of Common Stock,
representing approximately .05% of the outstanding Common Stock, and Parallax LP
owned 315,000 shares of Common Stock, representing approximately 1.1% of the
outstanding Common Stock. The shares held by International Parallax and Parallax
LP were inadvertently interchanged in Schedule 13D/A Amendment No. 1.
<PAGE>
(c) Except as set forth on Schedule I annexed hereto, the Reporting
Persons, Apostolakis Entities and Castroviejo Entities have not effected any
transactions in the Common Stock during the past 60 days. All such transactions
were effected in the open
market.
Item 6 of Schedule 13D, "Contracts, Arrangements, Understandings or
Relationships with Respect to Securities of the Issuer," is amended and restated
in its entirety as follows:
Notwithstanding certain discussions with the Company's management,
there is no present understanding between the Reporting Person 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 each of the Reporting Persons
and each of Messrs. Campbell or Knott. (See Item 4.)
<PAGE>
SIGNATURES
----------
After reasonable inquiry and to the best knowledge and belief of
the undersigned, the undersigned certify that the information set forth in this
Statement is true, complete and correct.
Dated: November 9, 1998
/s/ James J. Apostolakis
------------------------
Name: James J. Apostolakis
/s/ David Ray
-------------
Name: David Ray
/s/ Bernard Marden
------------------
Name: Bernard Marden
/s/ Christopher Castroviejo
---------------------------
Christopher Castroviejo
<PAGE>
SCHEDULE I IS AMENDED AND RESTATED IN ITS ENTIRETY AS FOLLOWS:
SCHEDULE I
TRANSACTIONS IN COMMON
STOCK OF COLUMBIA LABORATORIES, INC.
DURING THE PRECEDING 60 DAYS
Shares Purchased by James J. Apostolakis:
Number of
Shares
Date Purchased Total Cost
- ---- --------- ----------
9/28/98 2,000 $7,750
10/1/98 2,000 6,750
10/2/98 3,000 9,180
10/5/98 6,000 17,625
10/6/98 6,300 17,325
10/7/98 4,000 12,215
10/8/98 7,000 18,730
10/9/98 7,000 18,730
10/12/98 2,000 5,428
10/13/98 2,200 5,574.50
10/15/98 4,000 10,955
10/20/98 6,000 21,055
10/21/98 3,400 12,225
10/26/98 10,000 38,755
10/27/98 5,000 18,317.50
10/28/98 8,000 26,4678.50
10/29/98 15,000 48,880
11/2/98 8,000 29,360
Shares Purchased by Bradford Inc.:
Number of
Shares
Date Purchased Total Cost
- ---- --------- ----------
10/7/98 1,000 $3,065
10/12/98 1,000 2,752.50
10/15/98 2,000 5,500
10/20/98 2,000 7,375
10/27/98 1,000 3,752.50
10/29/98 1,500 4,950
<PAGE>
Shares Purchased by Lexington Corp.:
Number of
Shares
Date Purchased Total Cost
- ---- --------- ----------
10/1/98 2,000 $6,750
10/2/98 1,000 3,060
10/5/98 1,000 2,937.50
10/6/98 2,400 6,900
10/12/98 1,000 2,752.50
10/13/98 1,000 2,565
10/15/98 2,000 5,500
10/20/98 3,000 11,217.50
10/21/98 1,000 3,627.50
10/26/98 2,000 7,375.50
10/27/98 2,000 7,500
10/28/98 2,000 6,875
10/29/98 4,000 13,205
11/2/98 2,500 9,500
Shares Sold by Parallax LP:
Number of
Shares
Date Sold Total Cost
- ---- ---------- ----------
9/8/98 30,000 $116,546
Shares Sold by International Parallax:
Number of
Shares
Date Sold Total Cost
- ---- --------- -----------
9/23/98 10,000 $40,099
Shares Purchased by Mr. Ray:
Number of
Shares
Date Purchased Total Cost
- ---- --------- ----------
10/9/98 1,000 $2,750
10/26/98 24,100 85,600
10/27/98 3,900 13,650
<PAGE>
Shares Purchased by Mr. Marden:
Number of
Shares
Date Purchased Total Cost
- ---- --------- ----------
10/16/98 50,000 $150,000
