UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No.___)*
Neurogen Corporation
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(Name of Issuer)
Common Stock, $.025 par value
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(Title of Class of Securities)
64124E106
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(CUSIP Number)
Thomas J. Tisch
667 Madison Avenue
New York, NY 10021
(212) 545-2927
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(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
April 11, 1997
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(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.
*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 (however, see the
Notes).
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SCHEDULE 13D
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CUSIP No. 64124E106 Page 2 of 10 Pages
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Four Partners
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |_|
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
WC
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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
New York
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NUMBER OF 7 SOLE VOTING POWER
SHARES 771,900
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BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY -0-
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EACH
9 SOLE DISPOSITIVE POWER
REPORTING
771,900
PERSON -------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
WITH
-0-
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
771,900
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
|_|
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.4%
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14 TYPE OF REPORTING PERSON*
PN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
INCLUDE BOTH SIDES OF THE COVER PAGE, RESPONSES TO ITEMS 1-7
(INCLUDING EXHIBITS) OF THE SCHEDULE, AND THE SIGNATURE ATTESTATION.
<PAGE>
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CUSIP NO. 64124E106 13D Page 3 of 10 Pages
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Item 1. Security and Issuer.
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This Statement relates to the Common Stock, $.025 par value per share
(the "Common Stock"), of Neurogen Corporation (the "Issuer"). The principal
executive offices of the Issuer are located at 35 Northeast Industrial Road,
Branford, Connecticut 06405.
Item 2. Identity and Background.
-----------------------
This statement is being filed by Four Partners, a New York general
partnership ("FP"). The principal business of FP is investments. The address of
the principal business and the principal office of FP is c/o Thomas J. Tisch,
667 Madison Avenue, New York, New York 10021. The sole partners of FP are Andrew
H. Tisch 1991 Trust, for which Andrew H. Tisch is the managing trustee, Daniel
R. Tisch 1991 Trust, for which Daniel R. Tisch is the managing trustee, James S.
Tisch 1991 Trust, for which James S. Tisch is the managing trustee, and Thomas
J. Tisch 1991 Trust, for which Thomas J. Tisch is the managing trustee. Thomas
J. Tisch has been appointed the Manager of FP.
Set forth below is certain information with respect to Andrew H. Tisch,
Daniel R. Tisch, James S. Tisch and Thomas J. Tisch (the "Messrs. Tisch"), who
are the respective managing trustees of the four partners of FP:
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CUSIP NO. 64124E106 13D Page 4 of 10 Pages
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Name Business Address Present Principal Occupation
- ---- ---------------- -----------------------------
Andrew H. Tisch 667 Madison Avenue Member, Management
New York, NY 10021 Committee, Loews Corporation
(a public company primarily
engaged in insurance and
tobacco)
Daniel R. Tisch c/o Mentor Partners, L.P. General Partner, Mentor
499 Park Avenue Partners, L.P.(a partnership
New York, NY 10022 engaged in investment
activities)
James S. Tisch 667 Madison Avenue President and Chief Operating
New York, NY 10021 Officer, Loews Corporation
(a public company primarily
engaged in insurance and
tobacco)
Thomas J. Tisch 667 Madison Avenue Managing Partner of FLF
New York, NY 10021 Associates and Manager of FP
(partnerships engaged in
investment activities)
The Messrs. Tisch are brothers and are United States citizens.
During the last five years, none of the persons or the entities named
in this Item 2 has been convicted in any criminal proceeding (excluding traffic
violations or similar misdemeanors), and none of the persons or the entities
named in this Item 2 has been a party to a civil proceeding of a judicial or
administrative body of competent jurisdiction resulting in its or his being
subject to a judgment, decree or
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CUSIP NO. 64124E106 13D Page 5 of 10 Pages
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final order enjoining future violations of, or prohibiting or mandating
activities subject to, federal or state securities laws, or finding any
violations with respect to such laws.
Item 3. Source and Amount of Funds or Other Consideration.
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All funds used to purchase the securities reported in Item 5 below were
provided from the working capital of FP. The aggregate purchase price of such
securities was approximately $12,380,478.
Item 4. Purpose of Transaction.
----------------------
The securities purchased by FP were purchased solely for investment. FP
expects that it will, from time to time, review its investment position in the
Issuer and may, depending on market and other conditions, increase or decrease
such investment position.
FP has no intention of seeking control of the Issuer, nor does it have
any plans or proposals with respect to any extraordinary corporate transaction
involving the Issuer or any sale of its assets or any change in its Board of
Directors, management, capitalization, dividend policy, charter or by-laws, or
any other change in its business or corporate structure or with respect to the
delisting or deregistration of any of its securities including, without
limitation, those matters described in subparagraphs (a) through (j) of Item 4
of Schedule 13D.
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CUSIP NO. 64124E106 13D Page 6 of 10 Pages
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Item 5. Interest in Securities of the Issuer.
------------------------------------
FP holds 771,900 shares, representing 5.4% of the outstanding shares of
Common Stock.
(a) Set forth in the table below is the aggregate number of shares of
Common Stock beneficially owned as of the date hereof by each person or entity
listed in Item 2 above, together with the percentage of outstanding shares of
Common Stock which is beneficially owned by each such person or entity.
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CUSIP NO. 64124E106 13D Page 7 of 10 Pages
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Name of Amount and Nature % of Class
Beneficial Owner of Beneficial Ownership Outstanding (1)
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Four Partners 771,900 5.4%
Andrew H. Tisch 0 (2) 0
1991 Trust
Daniel R. Tisch 0 (2) 0
1991 Trust
James S. Tisch 0 (2) 0
1991 Trust
Thomas J. Tisch 0 (2) 0
1991 Trust
Andrew H. Tisch 0 (2) 0
Daniel R. Tisch 0 (2) 0
James S. Tisch 0 (2) 0
Thomas J. Tisch 0 (2) 0
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Total 771,900 5.4% (2)
(b) With respect to the persons and entities named in response to
paragraph (a) above:
(i) FP has directly the sole power to vote or direct the vote and
dispose or direct the disposition of the 771,900 shares of Common Stock
owned by it; and
(ii) By virtue of their status as managing trustees of the trusts which
are the general partners of FP, the Messrs. Tisch may be deemed to have
indirectly shared power to vote or direct the vote and dispose or
direct
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(1) The Issuer's 10-K for the fiscal year ended December 31, 1996
indicated that 14,272,479 shares of Common Stock were issued and
outstanding as of March 1, 1997.
(2) Does not include shares owned by FP. None of the Messrs.
Tisch beneficially owns any shares of Common Stock, except to the
extent that beneficial ownership of shares of Common Stock beneficially
owned by FP may be attributed to them.
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CUSIP NO. 64124E106 13D Page 8 of 10 Pages
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the disposition of the 771,900 shares of Common Stock owned by FP.
(c) The following transactions were effected by FP during the sixty
days preceding the date hereof. None of the persons or entities named in Item 2
above effected any other transactions in the Common Stock during the 60 days
preceding the date hereof.
Transaction Date Security No. Price/Share Market
- ----------- ---- -------- ------- ----------- ------
Purchase 3/6/97 Common 80,000 $17.50 NASDAQ
Purchase 3/6/97 Common 200 $17.29 NASDAQ
Purchase 3/6/97 Common 500 $17.35 NASDAQ
Purchase 3/14/97 Common 2,200 $19.29 NASDAQ
Purchase 3/31/97 Common 12,500 $18.77 NASDAQ
Purchase 3/31/97 Common 2,000 $18.79 NASDAQ
Purchase 4/1/97 Common 3,000 $18.04 NASDAQ
Purchase 4/2/97 Common 32,000 $15.71 NASDAQ
Purchase 4/3/97 Common 24,000 $14.36 NASDAQ
Purchase 4/8/97 Common 4,000 $13.91 NASDAQ
Purchase 4/9/97 Common 2,000 $14.04 NASDAQ
Purchase 4/10/97 Common 35,400 $14.29 NASDAQ
Purchase 4/11/97 Common 10,000 $14.37 NASDAQ
Purchase 4/14/97 Common 14,800 $14.41 NASDAQ
Purchase 4/15/97 Common 33,200 $14.45 NASDAQ
Purchase 4/17/97 Common 2,500 $14.87 NASDAQ
Purchase 4/18/97 Common 5,000 $14.88 NASDAQ
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CUSIP NO. 64124E106 13D Page 9 of 10 Pages
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Item 6. Contracts, Arrangements, Understandings or Relationships with Respect
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to Securities of the Issuer.
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None of the persons or entities named in Item 2 above has any express
contracts, arrangements or understandings with any of the other persons or
entities named in Item 2 above with respect to the securities of the Issuer.
Except as set forth in this Schedule 13D, none of the persons or entities named
in Item 2 above has any contracts, arrangements, understandings or relationships
with any other person with respect to the securities of the Issuer. None of the
persons or entities named in Item 2 above has any contracts, arrangements,
understandings or relationships with the Issuer.
Item 7. Material to be filed as Exhibits.
--------------------------------
None.
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CUSIP NO. 64124E106 13D Page 10 of 10 Pages
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SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
hereby certify that the information set forth in this statement is true,
complete and correct.
April 21, 1997
FOUR PARTNERS
By /s/ Thomas J. Tisch
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Thomas J. Tisch
Manager of Four Partners
