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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. )*
Name of Issuer: PerSeptive BioSystems, Inc.
Title of Class of Securities: Common Stock and Units
Consisting of Warrants to Purchase One Share of Common Stock
CUSIP Number: 715271102
(Name, Address and Telephone Number of Person
Authorized To Receive Notices and Communications)
Garo H. Armen
c/o Armen Partners, L.P.
630 Fifth Avenue, Suite 918
New York, New York 10111
(Date of Event which Requires Filing of this Statement)
1/29/97
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 [ ].
Check the following line if a fee is being paid with this
statement . (A fee is not required only if the filing
person: (1) has a previous statement on file reporting
beneficial ownership of more than five percent of the class
of securities described in Item 1; and (2) has filed no
amendment subsequent thereto reporting beneficial ownership
of five percent or less of class. See Rule 13d-7).
*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 the
disclosures provided in a prior cover page.
The information required in 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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CUSIP No. 715271102
1. Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
Garo H. Armen S.S. ####-##-####
2. Check the appropriate box if a member of a group
a.
b.
3. SEC Use Only
4. SOURCE OF FUNDS
AF, PF
5. Check if Disclosure of Legal Proceedings is Required
Pursuant to Items 2(d) of 2(e)
6. Citizenship or Place of Organization
U.S.
7. Sole Voting Power
1,221,321 (including Warrants to purchase 217,000
Shares)
8. Shared Voting Power
9. Sole Dispositive Power
1,221,321 (including Warrants to purchase 217,000
Shares)
10. Shared Dispositive Power
11. Aggregate Amount Beneficially Owned by Each Reporting
Person
1,221,321 (including Warrants to purchase 217,000
Shares)
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12. Check Box if the Aggregate Amount in Row (11) Excludes
Certain Shares*
13. Percent of Class Represented by Amount in Row (11)
5.7%
14. Type of Reporting Person*
IN
*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.
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Item 1. SECURITY AND ISSUER
This statement relates to shares of common stock,
$.01 par value, (the "Common Stock") of PerSeptive
BioSystems, Inc. ("PerSeptive BioSystems") and units
consisting of 217,000 warrants to purchase one share of
Common Stock of PerSeptive BioSystems ("Units"). The
principal executive office of PerSeptive BioSystems is
located at 500 Old Connecticut Path, Framingham, MA 01701.
Item 2. IDENTITY AND BACKGROUND
This statement is being filed on behalf of Mr. Garo
H. Armen. Mr. Armen's principal office is located at 630
Fifth Avenue, Suite 918, New York, New York 10111.
Mr. Armen has not, during the last five years, been
convicted in a criminal proceeding (excluding traffic
violations or similar misdemeanors). Mr. Armen has not,
during the last five years, been a party to a civil
proceeding of a judicial or administrative body of competent
jurisdiction which resulted in a judgment, decree or 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.
Mr. Armen is a citizen of the United States of
America.
Item 3. Source and Amount of Funds or Other Consideration
As of the date hereof, Mr. Armen is deemed to
beneficially own 1,004,321 shares of Common Stock and
217,000 Units of PerSeptive BioSystems. The Units and
Common Stock are held by (i) Armen Partners, L.P. (the
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"Partnership"), an investment limited partnership, of which
Mr. Armen is a general partner and the managing partner,
(ii) Armen Partners Offshore Fund, Ltd. (the "Fund"), an
offshore investment fund, to which Armen Capital Management
Corp., a corporation of which Mr. Armen is the principal,
acts as investment manager, and (iii) GHA Management
Corporation (the "Corporation"), a corporation wholly-owned
by Mr. Armen. The funds for the purchase of the Common
Stock and Units held in the Partnership came from capital
contributions to the Partnership by its general and limited
partners. The funds for the purchase of Common Stock held
by the Fund came from contributions by the Fund's
shareholders. The funds for the purchase of the Common
Stock and Units held by the Corporation came from Mr.
Armen's personal funds. Funds for the purchase of Common
Stock also came from margin loans entered in the ordinary
course of business.
Item 4. PURPOSE OF TRANSACTION
The Units and Common Stock beneficially owned by
Mr. Armen were acquired for, and are being held for,
investment purposes. The reporting person may acquire
additional Units and Common Stock, dispose of all or some of
those Units and Common Stock from time to time, in each case
in open market transactions, block sales or purchases or
otherwise, or may continue to hold those Units and Common
Stock.
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Mr. Armen does not have any plan or proposal which
relates to, or would result in, any of the actions
enumerated in Item 4 of the instructions to Schedule 13D.
Item 5. INTEREST IN SECURITIES OF THE ISSUER
As of the date hereof, Mr. Armen is deemed to be
the beneficial owner of 217,000 Units and of 1,004,321
shares of Common Stock of PerSeptive BioSystems. During the
last 60 days, he sold 8,100 shares of Common Stock and
purchased 2,127,764 shares of Common Stock. No Units were
sold or purchased during the last 60 days. Each Unit is
exercisable for one share of Common Stock. Therefore, Mr.
Armen is deemed to beneficially own 1,221,321 shares of
Common Stock. Based on the most recent Form 10-Q filed by
PerSeptive BioSystems, there are believed to be 21,387,087
shares of Common Stock of PerSeptive BioSystems outstanding.
Therefore, Mr. Armen beneficially owns 5.7% of the
outstanding shares of Common Stock (based on total
outstanding shares of Common Stock of 21,287,087 and 217,000
Units). Mr. Armen has the power to vote and direct the vote
of all of the shares of Common Stock of which he is
currently deemed beneficial owner. Mr. Armen has the power
to dispose of or direct the disposition of all the Units of
which he is currently deemed beneficial owner. Exhibit A
shows the transactions in the Common Stock that Mr. Armen
effected during the past 60 days.
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Item 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR
RELATIONSHIPS WITH RESPECT TO SECURITIES OF
THE ISSUER
Mr. Armen does not have any contract, arrangement,
understanding or relationship with any person with respect
to the Units or Common Stock of PerSeptive BioSystems.
Item 7. Material to be Filed as Exhibits
Attached hereto as Exhibit A is a description of
the transactions in the shares of PerSeptive BioSystems that
were effected by Mr. Armen during the past 60 days.
Signature
The undersigned, after reasonable inquiry and to
the best of his knowledge and belief, certifies that the
information set forth in this statement is true, complete
and correct.
March 10, 1997
/s/ Garo H. Armen
Garo H. Armen
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00875001.AH5
EXHIBIT A
SCHEDULE OF TRANSACTIONS
Shares Acquired Price Per Share
Date or (Sold) (Excluding Commissions)
1/14/97 ( 8,100) $6.02
1/16/97 4,000 $6.62
1/21/97 43,000 $7.17
1/29/97 15,000 $6.54
2/4/97 49,600 $6.43
2/10/97 100,000 $6.00
2/13/97 1,164 $5.87
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00875001.AH5
