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
Rosenwald, Lindsay A.
787 Seventh Avenue
48th Floor
New York, NY 10019
2. Issuer Name and Ticker or Trading Symbol
GENTA INCORPORATED /DE/
GNTA
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
12/29/97
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)
( ) Form filed by One Reporting Person
(X) 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>
Series D Convertible P|$0.94375|12/29|J(2)| |25,833(3) |A |12/31|N/A |Common Stock|2,737,2|(2)(3) |25,833 |D(2| |
referred Stock(1) | |/97 |(3) | |40,395(3) |D |/97 | | |72 | | |) | |
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Class D Warrants(1) |$0.94375|12/29|J(2)| |129,163(3) |A |12/31|6/30/|Common Stock|129,163 |(2)(3) |129,163 |D(2| |
| |/97 |(3) | |201,975(2) |D |/97 |02 | | | | |) | |
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| | | | | | | | | | | | | | |
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Explanation of Responses:
(1) The Series D Preferred Stock and Class D Warrants are components of units
("Units") issuable upon exercise of warrants ("Unit Purchase Warrants")
exercisable from December 31, 1997 to June 30, 2002, at an initial exercise
price of $110,000 per Unit. Lindsay A. Rosenwald, may be deemed
beneficially to own, and Paramount Capital Inc. may be deemed to have
disposed of beneficial ownership of, Unit Purchase Warrants to purchase an
aggregate of 25.83261 and 40.395 Units, respectively. Each Unit consists,
initially, of (i) 1,000 shares of Series D Preferred Stock of the Issuer,
par value $0.001 per share, and (ii) 5,000 Class D Warrants. The Unit
Purchase Warrants contain certain anti-dilution adjustments.
(2) On December 29, 1997, Paramount Capital Inc. designated recipients (the
"Paramount Warrant Designees") of the Unit Purchase Warrants.
(3) Dr. Rosenwald was among the Paramount Warrant Designees and received such
Unit Purchase Warrants in connection with a private placement of securities
of the Issuer of which Paramount Capital, Inc. acted as placement agent.
SIGNATURE OF REPORTING PERSON
/s/Lindsay A. Rosenwald, M.D.
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Lindsay A. Rosenwald, M.D.,
Individually, and as President of
Paramount Capital, Inc.
DATE
1/9/98
** Intentional misstatements or omissions of facts constitute Federal Criminal
Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, see Instruction 6 for procedure.
Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a currently
valid OMB Number.
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Attachment A
Reporting Persons: Lindsay A. Rosenwald, M.D. (the designated filer); and
Paramount Capital, Inc.
787 Seventh Avenue, 48th Floor
New York, NY 10019
Issuer: Genta Incorporated (GNTA)
Statement For: December / 1997
Lindsay A. Rosenwald, M.D., the President and sole shareholder of
Paramount Capital, Inc., is also the President and sole shareholder of Paramount
Capital Asset Management, Inc. ("Paramount"). Paramount is the General Partner
of the Aries Domestic Fund, L.P. (the "Partnership") and also serves as the
Investment Manager to The Aries Trust (the "Trust"), a Cayman Islands trust. The
Partnership and the Trust each owns securities of the Issuer. The Reporting
Persons disclaim beneficial ownership of the securities held by the Partnership
and the Trust, except to the extent of their pecuniary interest therein, if any.
Paramount Capital, Inc. is no longer subject to Section 16 of the
Securities Exchange Act of 1934, as amended.
