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SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 10-C
REPORT BY ISSUER OF SECURITIES QUOTED ON NASDAQ
INTERDEALER QUOTATION SYSTEM
FILED PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934 AND RULE 13a-17
OR 15d-17 THEREUNDER
Envirogen, Inc.
(Exact name of issuer as specified in charter)
4100 Quakerbridge Road
Lawrenceville, NJ 08648
(Address of principal executive offices)
Issuer's telephone number, including area code 609-936-9300
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I. CHANGE IN NUMBER OF SHARES OUTSTANDING
Indicate any change (increase or decrease) of five percent or more in the number
of shares outstanding:
1. Title of security Common Stock
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2. Number of shares outstanding before the change 9,453,240
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3. Number of shares outstanding after the change 12,423,240
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4. Effective date of change May 23 and 24, 1996
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5. Method of change: Specify method (such as merger, acquisition, exchange,
distribution, stock split, reverse split, acquisition of
stock for treasury, etc.)
(1) Conversion of Convertible Preferred Stock; (2) Private placement of
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Common Stock
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Give brief description of transaction:
(1) On May 23, 1996, 97,000 shares of the Company's outstanding Series C
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Convertible Preferred Stock were voluntarily converted into 970,000 shares
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of the Company's Common Stock.
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(2) On May 24, 1996, the Company issued and sold 2,000,000 shares of Common
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Stock pursuant to a private placement, resulting in net proceeds to the
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Company of approximately $4,650,000. The investors in the private
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placement have certain demand and piggyback registration rights with
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respect to their shares. Allen & Company Incorporated acted as placement
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agent, and in connection therewith the Company issued seven-year warrants
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to purchase 200,000 shares of the Company's Common Stock at $2.50 per
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share. The Company paid Allen & Company a placement fee of $300,000
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and reimbursed it for legal fees and other expenses of $12,495. Allen &
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Company is a principal stockholder of the Company, and an officer of
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Allen & Company is a director of the Company.
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The foregoing issuances resulted in an increase of approximately 31.4% in
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the number of outstanding shares of the Company's Common Stock.
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II. CHANGE IN NAME OF ISSUER
1. Name prior to change N/A
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2. Name after change N/A
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3. Effective date of charter amendment changing name N/A
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4. Date of shareholder approval of change, if required N/A
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ENVIROGEN, INC.
Date: May 31, 1996 By:/s/ Harcharan S. Gill, Ph.D.
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Harcharan S. Gill, Ph.D.
President
