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
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)
(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>
12% Senior Secured Co|$50.00 |12/31|C | |$917,263(1)|D |1/28/|when |Series D Con|18,345 |$822,50|$0(1) |D | |
nvertible Bridge Notes| |/97 | | | | |97 |fully|vertible Pre| |0 | | | |
| | | | | | | | paid|ferred Stock| | | | | |
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Series D Convertible P|$0.94375|12/31|C | |18,345 |A |5/29/|N/A |Common Stock|1,943,8|$50.00 |26,745 |D | |
referred Stock, par va| |/97 | | | | |97 | | |41 | | | | |
lue $.001 per share | | | | | | | | | | | | | | |
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Series A Convertible P|$8.27 |12/2/|P | |18,000 |A |N/A |N/A |Common Stock|130,593|$130,99|18,000 |D | |
referred Stock, par va| |97 | | | | | | | | |3 | | | |
lue $.001 per share | | | | | | | | | | | | | | |
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Series D Convertible P|$0.94375|12/29|J(3)| |350 |A |12/31|6/30/|Common Stock|37,086 |(3) |26,745 |D | |
referred Stock(2) | |/97 | | | | |/97 |02 | | | | | | |
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Class D Warrants(2) |$0.94375|12/29|J(3)| |1,750 |A |12/31|6/30/|Common Stock|1,750 |(3) |19,250 |D | |
| |/97 | | | | |/97 |02 | | | | | | |
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Explanation of Responses:
Explanation of Responses:
(1) Consists of $822,500 principal amount and $94,763 interest
(2) 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. The Reporting Person may be deemed beneficially
to own Unit Purchase Warrants to purchase an aggregate of 0.35 Units. 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.
(3) On December 29, 1997, Paramount Capital Inc. designated recipients (the
"Paramount Warrant Designees") of the Unit Purchase Warrants. The Reporting
Person 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., President
Paramount Capital Asset Management, Inc., General Partner
Aries Domestic Fund, L.P.
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.
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Attachment A
Reporting Person: The Aries Domestic Fund, L.P.
Issuer: Genta Incorporated (GNTA)
Statement For: December/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.
