UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
( ) Check this box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instructions 1(b).
1. Name and Address of Reporting Person
Aries Domestic Fund, LP
787 Seventh Avenue
44th Floor
New York, NY 10019
2. Issuer Name and Ticker or Trading Symbol
Genta Incorporated
GNTAC
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
06/30/97
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
( ) Director (X) 10% Owner ( ) Officer (give title below) ( ) Other
(specify below)
7. Individual or Joint/Group Filing (Check Applicable Line)
(X) Form filed by One Reporting Person
( ) Form filed by More than One Reporting Person
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Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned |
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1. Title of Security |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect |
| Transaction | or Disposed of (D) | Securities |ect | Beneficial Ownership |
| | | | Beneficially |(D)or | |
| | | | | A/| | Owned at |Indir | |
| Date |Code|V| Amount | D | Price | End of Month |ect(I)| |
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<S> <C> <C> <C><C> <C> <C> <C> <C> <C>
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Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
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1.Title of Derivative |2.Con- |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of|
Security |version |Transaction | rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect |
|or Exer | | | rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial |
|cise | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership |
|Price of| | | posed of(D) |Day/Year) | |rity |Benefi |or | |
|Deriva- | | | |Date |Expir| | |ficially |Ind| |
|tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| |
|Secu- | | | | | D |cisa-|Date | of Shares | |End of |ct | |
|rity |Date |Code|V| Amount | |ble | | | |Month |(I)| |
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<S> <C> <C> <C> <C><C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Line of Credit |$2.50 |06/6/|J(2)| |17,500 | |06/06|06/06|Common |17,500 |(2) |17,500 |D | |
Warrants | |97 | | | | |/97 |/02 | | | | | | |
| | | | | | | | | | | | | | |
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Series D Convertible P|$0.94 |06/30|P | |3,500 | |N/A |N/A |Common |372,340 |$304,50|24,500 (1) |D | |
referred | |/97 | | | | | | | | |0(3) | | | |
| | | | | | | | | | | | | | |
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Class D Warrants |$0.94 |06/30|P(3)| |17,500 | |07/01|06/30|Common |(3) |(3) |17,500 |D | |
| |/97 | | | | |97 |/02 |
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Explanation of Responses:
(1) Includes Series D Convertible Preferred Stock acquired both by conversion of
12% Senior Secured Convertible Bridge Notes (the "Bridge Notes") and by purchase
in a private placement. Does not, however, include shares of Series D
Convertible Preferred Stock issuable upon conversion of the interest on the
Bridge Notes.
(2) Received in consideration of extension of a $175,000 line of credit to the
Issuer.
(3) The Series D Preferred Stock and Class D Warrants purchased on 6/30/97 were
included in Units for which the Reporting Person paid an aggregate of
$304,500.
SIGNATURE OF REPORTING PERSON
/s/ Lindsay A. Rosenwald, M.D., President
Paramount Capital Asset Management, Inc., General Partner
The Aries Domestic Fund, L.P.
DATE
7/10/97
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Attachment A
Reporting Person: The Aries Domestic Fund, L.P.
Issuer: Genta Incorporated (GNTAC)
Statement For: June/1997
Paramount Capital Asset Management, Inc. ("Paramount"), the General
Partner of the Aries Domestic Fund, L.P. (the "Partnership"), also serves as the
Investment Manager to The Aries Trust (the "Trust"), a Cayman Islands trust,
which also owns securities of the Issuer. Lindsay A. Rosenwald, M.D., is the
sole shareholder of Paramount. Paramount and Dr. Rosenwald disclaim beneficial
ownership of the securities held by the Partnership and the Trust, except to the
extent of their pecuniary interest therein.
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