SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
______________________
SCHEDULE 13D
Under the Securities Exchange Act of 1934
Osteotech, Inc.
(Name of Issuer)
Common Stock, Par Value $.01
(Title of Class of Securities)
688582105
(CUSIP Number)
Arthur Goetchius
300 Park Avenue, 21st Fl., New York, NY 10022 (212) 755-9395
(Name, address and telephone number of person
authorized to receive notices and communications)
May 29, 1996
(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 [ ].
Check the following box if a fee is being paid with the statement [X].
(A fee is not required only if the reporting 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
such class.) (See Rule 13d-7.)
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 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 purposes 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).
Page 1 of 23 Pages
<PAGE>
13D
CUSIP No. 688582105
____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
EGS Associates, L.P.
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
_____________________________________________________________________________
(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
Delaware
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER
-0-
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER
65,117
OWNED BY ___________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
-0-
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
65,117
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
65,117
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
.84%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON **
PN
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 2 of 23 Pages
<PAGE>
13D
CUSIP No. 688582105
_____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
EGS Partners, L.L.C.
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS **
OO
____________________________________________________________
(5) CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) [ ]
_____________________________________________________________________________
(6) CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER
-0-
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER
235,321
OWNED BY ___________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
-0-
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
235,321
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
235,321
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
3.04%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON **
IA
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 3 of 23 Pages
<PAGE>
13D
CUSIP No. 688582105
_____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Bev Partners, L.P.
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
_____________________________________________________________________________
(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
Delaware
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER
-0-
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER
38,582
OWNED BY ___________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
-0-
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
38,582
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
38,582
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
.50%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON **
PN
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 4 of 23 Pages
<PAGE>
13D
CUSIP No. 688582105
____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
The Pharmaceutical/Medical Technology Fund, L.P.
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
_____________________________________________________________________________
(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
Delaware
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER
-0-
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER
95,663
OWNED BY ___________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
-0-
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
95,663
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
95,663
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
1.23%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON **
PN
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 5 of 23 Pages
<PAGE>
13D
CUSIP No. 688582105
____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Jonas Partners, L.P.
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
_____________________________________________________________________________
(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
Delaware
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER
-0-
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER
31,980
OWNED BY ___________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
-0-
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
31,980
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
31,980
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
.41%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON **
PN
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 6 of 23 Pages
<PAGE>
13D
CUSIP No. 688582105
____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
FK Trading Partners, L.P.
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
_____________________________________________________________________________
(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
Delaware
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER
-0-
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER
29,862
OWNED BY ___________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
-0-
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
29,862
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
29,862
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
.39%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON **
PN
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 7 of 23 Pages
<PAGE>
13D
CUSIP No. 688582105
_____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
William Ehrman
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS **
AF OO
____________________________________________________________
(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
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER
-0-
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER
496,525
OWNED BY ___________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
-0-
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
496,525
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
-0-
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
6.41%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON **
IN
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 8 of 23 Pages
<PAGE>
13D
CUSIP No. 688582105
_____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Frederic Greenberg
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS **
AF PF OO
____________________________________________________________
(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
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER
-0-
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER
501,525
OWNED BY ___________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
-0-
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
501,525
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
501,525
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
6.47%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON **
IN
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 9 of 23 Pages
<PAGE>
13D
CUSIP No. 688582105
_____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Frederick Ketcher
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS **
AF PF OO
____________________________________________________________
(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
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER
5,000
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER
496,525
OWNED BY ___________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
5,000
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
496,525
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
496,525
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
6.47%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON **
IN
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 10 of 23 Pages
<PAGE>
13D
CUSIP No. 688582105
_____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
Jonas Gerstl
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS **
AF OO
____________________________________________________________
(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
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER
-0-
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER
496,525
OWNED BY ___________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
-0-
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
496,525
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
496,525
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
6.41%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON **
IN
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 11 of 23 Pages
<PAGE>
13D
CUSIP No. 688582105
_____________________________________________________________________________
(1) NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO.
OF ABOVE PERSON
James McLaren
_____________________________________________________________________________
(2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP **
(a) [ ]
(b) [X]
_____________________________________________________________________________
(3) SEC USE ONLY
_____________________________________________________________________________
(4) SOURCE OF FUNDS **
AF OO
____________________________________________________________
(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
_____________________________________________________________________________
NUMBER OF (7) SOLE VOTING POWER
-0-
SHARES ______________________________________________________________
BENEFICIALLY (8) SHARED VOTING POWER
496,525
OWNED BY ___________________________________________________________
EACH (9) SOLE DISPOSITIVE POWER
-0-
REPORTING ______________________________________________________________
PERSON WITH (10) SHARED DISPOSITIVE POWER
496,525
_____________________________________________________________________________
(11) AGGREGATE AMOUNT BENEFICIALLY OWNED
BY EACH REPORTING PERSON
496,525
_____________________________________________________________________________
(12) CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (11) EXCLUDES CERTAIN SHARES ** [ ]
_____________________________________________________________________________
(13) PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW (11)
6.41%
_____________________________________________________________________________
(14) TYPE OF REPORTING PERSON **
IN
_____________________________________________________________________________
** SEE INSTRUCTIONS BEFORE FILLING OUT!
Page 12 of 23 Pages
<PAGE>
ITEM 1. SECURITY AND ISSUER.
This statement relates to the common stock, $.01 par value (the "Common
Stock"), issued by Osteotech, Inc., a Delaware corporation (the "Company"),
whose principal executive offices are located at 51 James Way, Eatontown, NJ
07724.
ITEM 2. IDENTITY AND BACKGROUND.
(a) This statement is filed by (i) EGS Associates, L.P., a Delaware
limited partnership ("EGS Associates"), with respect to shares of Common Stock
beneficially owned by it, (ii) EGS Partners, L.L.C., a Delaware limited
liability company ("EGS Partners"), with respect to shares of Common Stock
beneficially owned by EGS Overseas Fund Limited, a British Virgin Islands
corporation ("EGS Overseas"), as well as shares of Common Stock held in other
discretionary accounts managed by EGS Partners, (iii) Bev Partners, L.P., a
Delaware limited partnership ("Bev Partners"), with respect to shares of
Common Stock beneficially owned by it, (iv) the Pharmaceutical/Medical
Technology Fund, L.P., a Delaware limited partnership ("Pharm Fund"), with
respect to shares of Common Stock beneficially owned by it, (v) Jonas
Partners, L.P., a Delaware limited partnership ("Jonas Partners"), with
respect to shares of Common Stock beneficially owned by it, (vi) FK Trading
Partners, L.P., a Delaware limited partnership ("FK Trading"), with respect to
shares of Common Stock beneficially owned by it, (vii) William Ehrman, with
respect to shares of Common Stock beneficially owned by EGS Associates, EGS
Partners, Bev Partners, Pharm Fund, Jonas Partners, and FK Trading; (viii)
Frederic Greenberg, with respect to shares of Common Stock beneficially owned
by a member of his immediate family, EGS Associates, EGS Partners, Bev
Partners, Pharm Fund, Jonas Partners, and FK Trading; (ix) Frederick Ketcher,
with respect to shares of Common Stock beneficially owned by him, EGS
Associates, EGS Partners, Bev Partners, Pharm Fund, Jonas Partners, and FK
Trading; and (x) Jonas Gerstl, with respect to shares of Common Stock
beneficially owned by EGS Associates, EGS Partners, Bev Partners, Pharm Fund,
Jonas Partners, and FK Trading. The foregoing persons are hereinafter
sometimes referred to collectively as the "Reporting Persons". Any
disclosures herein with respect to persons other than the Reporting Persons
are made on information and belief after making inquiry to the appropriate
party.
The general partners of EGS Associates, Bev Partners, Pharm Fund, Jonas
Partners, and FK Trading, and the members of EGS Partners, are William Ehrman,
Frederic Greenberg, Frederick Ketcher, Jonas Gerstl and James McLaren
(collectively, the "General Partners").
(b) The address of the principal business and principal office of (i)
EGS Associates, EGS Partners, Bev Partners, Pharm Fund, Jonas Partners, FK
Trading and each of the General Partners is 300 Park Avenue, New York, New
York 10022 and (ii) EGS Overseas is CITCO Building, Wickhams Cay, P.O. Box
662, Road Town, Tortola, British Virgin Islands.
(c) The principal business of each of EGS Associates, EGS Overseas,
Bev Partners, Pharm Fund, Jonas Partners, and FK Trading is that of a private
investment firm, engaging in the purchase and sale of securities for
investment for its own account. The principal business of EGS Partners is
Page 13 of 23 Pages
<PAGE>
that of a registered investment adviser under the Investment Advisers Act of
1940, as amended, engaging in the purchase and sale of securities for
investment on behalf of discretionary accounts and EGS Overseas. The present
principal occupations of the General Partners are as general partners/members
of EGS Associates, EGS Partners, Bev Partners, Pharm Fund, Jonas Partners, and
FK Trading.
(d) None of the persons referred to in paragraph (a) above has, during
the last five years, been convicted in a criminal proceeding (excluding
traffic violations or similar misdemeanors).
(e) None of the persons referred to in paragraph (a) above has, during
the last five years, been a party to a civil proceeding of a judicial or
administrative body of competent jurisdiction and as a result of such
proceeding was or is subject to 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 violation with respect to such
laws.
(f) Each of the individuals referred to in paragraph (a) above is a
United States citizen. EGS Associates, Bev Partners, Pharm Fund, Jonas
Partners, and FK Trading are Delaware limited partnerships. EGS Partners is a
Delaware limited liability company. EGS Overseas is a British Virgin Islands
corporation.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
The net investment cost (including commissions, if any) of the shares of
Common Stock beneficially owned by EGS Associates, EGS Partners (exclusive of
shares beneficially owned by EGS Overseas), EGS Overseas, Bev Partners, Pharm
Fund, Jonas Partners, and FK Trading is approximately $371,934, $1,302,988,
$28,185, $221,163, $535,661, $178,111, and $165,435, respectively.
The net investment cost (excluding commissions, if any) of the shares of
Common Stock owned directly by a member of Mr. Greenberg's immediate family is
approximately $25,000.
The net investment cost (excluding commissions, if any) of the shares of
Common Stock owned directly by Mr. Ketcher is approximately $27,175.
Messrs. Ehrman, Gerstl and McLaren currently own no shares of Common
Stock.
The shares of Common Stock purchased by each of EGS Associates, EGS
Overseas,
Bev Partners, Pharm Fund, Jonas Partners and FK Trading were purchased with
the investment capital of the respective entities. The shares of Common Stock
purchased by EGS Partners were purchased with the investment capital of
discretionary accounts under its management. The shares of Common Stock
purchased by Messrs. Greenberg and Ketcher were purchased with personal funds.
The shares of Common Stock beneficially owned by EGS Associates, EGS
Partners (excluding EGS Overseas), EGS Overseas, Bev Partners, Pharm Fund,
Jonas Partners, and FK Trading are held in their respective commingled margin
accounts, or in the case of EGS Partners, in margin and non-margin accounts
held by each discretionary account under its management. Such margin accounts
are maintained at Bear Stearns & Co. Inc., and may from time to time have
debit balances. Since other securities are held in such margin accounts, it is
not possible to determine the amounts, if any, of margin used with respect to
the shares of Common Stock purchased. Non-margin accounts are maintained at
Bankers Trust Company and The Chase Manhattan Bank, N.A. The shares owned by
Page 14 of 23 Pages
<PAGE>
Mr. Greenberg are held in an account maintained at Goldman, Sachs & Co. or are
beneficially owned by a member of his immediate family. The shares owned by
Mr. Ketcher are held in his various accounts maintained at Bear Stearns & Co.
Inc. Currently, the interest rate charged on such various margin accounts is
approximately 5.75% per annum.
ITEM 4. PURPOSE OF THE TRANSACTION.
The purpose of the acquisition of the shares of the Common Stock by the
Reporting Persons was for investment. The Reporting Persons have recently
disposed of and each may in the future dispose of any and all of the shares of
the Common Stock held by it or him at any time, or acquire other shares.
None of the Reporting Persons has any plans or proposals which relate
to, or could result in, any of the matters referred to in paragraphs (b)
through (j), inclusive, of Item 4 of Schedule 13D. Such entities and persons
may, at any time and from time to time, review or reconsider their position
with respect to the Company, and formulate plans or proposals with respect to
any of such matters, but have no present intention of doing so.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
(a) The approximate aggregate percentage of shares of Common Stock
reported beneficially owned by each person herein is based on 7,749,121 shares
outstanding, which is the total number of shares of Common Stock outstanding
as of April 30, 1996, as reflected in the company's quarterly report on Form
10-Q filed with the Securities and Exchange Commission (the "Commission") for
the fiscal quarter ended March 31, 1996 (which is the most recent Form 10-Q on
file).
As of the close of business on May 29, 1996:
(i) EGS Associates owns beneficially 65,117 shares of Common
Stock, constituting less than 1% of the shares outstanding.
(ii) EGS Partners owns directly no shares of Common Stock. By
reason of the provisions of Rule 13D-3 of the Securities Exchange Act of 1934,
as amended (the "Act"), EGS Partners may be deemed to own beneficially 230,746
shares (constituting approximately 2.98% of the shares outstanding), purchased
for discretionary accounts managed by it, other than EGS Overseas, and 4,575
shares of Common Stock purchased for EGS Overseas (less than 1% of the shares
outstanding), which, when aggregated, total 235,321 shares of Common Stock,
constituting approximately 3.04% of the shares outstanding.
(iii) Bev Partners owns beneficially 38,582 shares of Common
Stock, constituting less than 1% of the shares outstanding.
(iv) Pharm Fund owns 95,663 shares of Common Stock, constituting
approximately 1.23% of the shares outstanding.
(v) Jonas Partners owns 31,980 shares of Common Stock,
constituting less than 1% of the shares outstanding.
(vi) FK Trading owns 29,862 shares of Common Stock, constituting
less than 1% of the shares outstanding.
(vii) Mr. Greenberg owns beneficially through ownership by a
member of his immediate family, 5,000 shares of Common Stock, constituting
less than 1% of the shares outstanding.
Page 15 of 23 Pages
<PAGE>
(viii) Mr. Ketcher owns directly 5,000 shares of Common
Stock, constituting less than 1% of the shares outstanding.
(ix) Messrs. Ehrman, Gerstl and McLaren own directly no shares of
Common Stock.
By reason of the provisions of Rule 13D-3 of the Act, each of the
General Partners may be deemed to own the 65,117 shares beneficially owned by
EGS Associates, the 235,321 shares beneficially owned by EGS Partners, the
38,582 shares beneficially owned by Bev Partners, the 95,663 shares
beneficially owned by Pharm Fund, the 31,980 shares beneficially owned by
Jonas Partners, and the 29,862 shares beneficially owned by FK Trading. When
the shares beneficially owned by EGS Associates, EGS Partners, Bev Partners,
Pharm Fund, Jonas Partners, and FK Trading are aggregated, they total 496,525
shares of Common Stock, constituting approximately 6.41% of the shares
outstanding.
(viii) In the aggregate, the Reporting Persons beneficially
own a total of 506,525 shares of Common Stock, constituting approximately
6.54% of the shares outstanding.
(b) (i) Each of EGS Associates, EGS Partners (with respect to
shares of EGS Overseas and other discretionary accounts), Bev Partners, Jonas
Partners, Pharm Fund and FK Trading has the power to vote and to dispose of
the shares of Common Stock beneficially owned by it, which power may be
exercised by the General Partners. Each of EGS Overseas and the discretionary
accounts is a party to an investment management agreement with EGS Partners
pursuant to which EGS Partners has investment authority with respect to
securities held in such account.
(ii) Mr. Ketcher has the sole power to vote and dispose of
the shares owned directly by him. Mr. Greenberg has shared power to vote and
dispose of the shares owned by a member of his immediate family.
(c) The trading dates, number of shares of Common Stock
purchased or sold and price per share for all transactions in the Common Stock
from the 60th day prior to May 29, 1996 until May 29, 1996 by EGS Associates,
EGS Partners (excluding EGS Overseas), Pharm Fund, Bev Partners, Jonas
Partners, and FK Trading, are set forth in Schedules A, B, C, D, E, and F,
respectively, and were all effected in the over-the-counter market. During
such period, Messrs. Ehrman, Greenberg, Ketcher, Gerstl, and McLaren, did
not enter into any transactions in the Common Stock.
(d) No person other than each respective record owner of shares
of Common Stock referred to herein is known to have the right to receive or
the power to direct the receipt of dividends from or the proceeds of sale of
such shares of Common Stock.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH
RESPECT TO SECURITIES OF THE ISSUER.
There are no contracts, arrangements, understandings or relationships
(legal or otherwise) among the persons named in Item 2 hereof or between such
persons and any other person with respect to any securities of the Issuer
including but not limited to transfer or voting of any other securities,
finder's fees, joint ventures, loan or option arrangements, puts or calls,
guarantees of profits, divisions of profits or losses, or the giving or
Page 16 of 23 Pages
<PAGE>
withholding of proxies.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS.
The following exhibit is being filed with this Schedule:
Exhibit 1 A written agreement relating to the filing of joint acquisition
statements as required by Rule 13D-1(f)(1) of the Act.
Page 17 of 23 Pages
<PAGE>
SIGNATURES
After reasonable inquiry and to the best of our knowledge and belief, the
undersigned certify that the information set forth in this statement is true,
complete and correct.
DATED: June 4, 1996 /s/ William Ehrman
William Ehrman, individually and as
general partner* of each of EGS PARTNERS,
L.L.C., EGS ASSOCIATES, L.P., BEV
PARTNERS, L.P., THE PHARMACEUTICAL/MEDICAL
TECHNOLOGY FUND, L.P., JONAS PARTNERS,
L.P., and FK TRADING PARTNERS, L.P.
/s/ Frederic Greenberg
Frederic Greenberg, individually and as
general partner* of each of EGS PARTNERS,
L.L.C., EGS ASSOCIATES, L.P., BEV
PARTNERS, L.P., THE PHARMACEUTICAL/MEDICAL
TECHNOLOGY FUND, L.P., JONAS PARTNERS,
L.P. and FK TRADING PARTNERS, L.P.
/s/ William Ehrman
William Ehrman, as Attorney-In-Fact for
Frederick Ketcher, individually and as
general* partner of each of EGS PARTNERS,
L.L.C., EGS ASSOCIATES, L.P., BEV
PARTNERS, L.P., THE PHARMACEUTICAL/MEDICAL
TECHNOLOGY FUND, L.P., JONAS PARTNERS,
L.P. and FK TRADING PARTNERS, L.P.
/s/ Jonas Gerstl
Jonas Gerstl, individually and as general
partner* of each of EGS PARTNERS, L.L.C.,
EGS ASSOCIATES, L.P., BEV PARTNERS, L.P.,
THE PHARMACEUTICAL/MEDICAL TECHNOLOGY
FUND, L.P., JONAS PARTNERS, L.P. and FK
TRADING PARTNERS, L.P.
/s/ James McLaren
James McLaren, individually and as general
partner* of each of EGS PARTNERS, L.L.C.,
EGS ASSOCIATES, L.P., BEV PARTNERS, L.P.,
THE PHARMACEUTICAL/MEDICAL TECHNOLOGY
FUND, L.P., JONAS PARTNERS, L.P. and FK
TRADING PARTNERS, L.P.
* With respect to EGS Partners, as member.
Page 18 of 23 Pages
<PAGE>
Schedule A
EGS Associates, L.P.
Transactions in the Common Stock
Price Per Share
Date of Number of (including
Transaction Shares Purchased/(Sold) Commissions, if any)
__________________________________________________________________________
5/29/96 42,372 $5.54
Page 19 of 23 Pages
<PAGE>
Schedule B
EGS Partners, L.P.
Transactions in the Common Stock
Price Per Share
Date of Number of (including
Transaction Shares Purchased/(Sold) Commissions, if any)
__________________________________________________________________________
4/29/96 2,690 $6.98
4/30/96 2,690 $6.63
5/13/96 538 $6.56
5/29/96 137,349 $5.54
Page 20 of 23 Pages
<PAGE>
Schedule C
The Pharmaceutical/Medical Technology Fund, L.P.
Transactions in the Common Stock
Price Per Share
Date of Number of (including
Transaction Shares Purchased/(Sold) Commissions, if any)
__________________________________________________________________________
4/29/96 7,310 $6.98
4/30/96 7,310 $6.63
5/13/96 1,462 $6.56
5/29/96 21,830 $5.54
Page 21 of 23 Pages
<PAGE>
Schedule D
Bev Partners, L.P.
Transactions in the Common Stock
Price Per Share
Date of Number of (including
Transaction Shares Purchased/(Sold) Commissions, if any)
__________________________________________________________________________
5/29/96 24,212 $5.54
Page 22 of 23 Pages
<PAGE>
Schedule F
FK Trading Partners, L.P.
Transactions in the Common Stock
Price Per Share
Date of Number of (including
Transaction Shares Purchased/(Sold) Commissions, if any)
__________________________________________________________________________
4/30/96 15,000 6.63
5/2/96 (15,000) 6.75
5/29/96 29,862 5.54
Page 23 of 23 Pages
<PAGE>
EXHIBIT 1
JOINT ACQUISITION STATEMENT
PURSUANT TO RULE 13D-1(F)1
The undersigned acknowledge and agree that the foregoing statement on
Schedule 13D, as amended, is filed on behalf of each of the undersigned and
that all subsequent amendments to this statement on Schedule 13D, as amended,
shall be filed on behalf of each of the undersigned without the necessity of
filing additional joint acquisition statements. The undersigned acknowledge
that each shall be responsible for the timely filing of such amendments, and
for the completeness and accuracy of the information concerning him or it
contained therein, but shall not be responsible for the completeness and
accuracy of the information concerning the other, except to the extent that he
or it knows or has reason to believe that such information is inaccurate.
DATED: June 4, 1996 /s/ William Ehrman
William Ehrman, individually and as
general partner* of each of EGS PARTNERS,
L.L.C., EGS ASSOCIATES, L.P., BEV
PARTNERS, L.P., THE PHARMACEUTICAL/MEDICAL
TECHNOLOGY FUND, L.P., JONAS PARTNERS,
L.P., and FK TRADING PARTNERS, L.P.
/s/ Frederic Greenberg
Frederic Greenberg, individually and as
general partner* of each of EGS PARTNERS,
L.L.C., EGS ASSOCIATES, L.P., BEV
PARTNERS, L.P., THE PHARMACEUTICAL/MEDICAL
TECHNOLOGY FUND, L.P., JONAS PARTNERS,
L.P. and FK TRADING PARTNERS, L.P.
/s/ William Ehrman
William Ehrman, as Attorney-In-Fact for
Frederick Ketcher, individually and as
general* partner of each of EGS PARTNERS,
L.L.C., EGS ASSOCIATES, L.P., BEV
PARTNERS, L.P., THE PHARMACEUTICAL/MEDICAL
TECHNOLOGY FUND, L.P., JONAS PARTNERS,
L.P. and FK TRADING PARTNERS, L.P.
/s/ Jonas Gerstl
Jonas Gerstl, individually and as general
partner* of each of EGS PARTNERS, L.L.C.,
EGS ASSOCIATES, L.P., BEV PARTNERS, L.P.,
THE PHARMACEUTICAL/MEDICAL TECHNOLOGY
FUND, L.P., JONAS PARTNERS, L.P. and FK
TRADING PARTNERS, L.P.
/s/ James McLaren
James McLaren, individually and as general
partner* of each of EGS PARTNERS, L.L.C.,
EGS ASSOCIATES, L.P., BEV PARTNERS, L.P.,
THE PHARMACEUTICAL/MEDICAL TECHNOLOGY
FUND, L.P., JONAS PARTNERS, L.P. and FK
TRADING PARTNERS, L.P.
* With respect to EGS Partners, as member.
