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
GNTA
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
DECEMBER/1997
5. If Amendment, Date of Original (Month/Year)
01/09/98
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 |$0.94375|12/29|J(1)| |16,158(3) |D |12/31|N/A |Common Stock|1,712,1| (3) |(1)(2) |D | |
Preferred Stock(1) | |/97 |(3) | | | |/97 | | |06 | | | | |
| | |(4) | | | | | | | | | | | |
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Class D Warrants(1) |$0.94375|12/29|J(1)| |80,790(3) |D |12/31|6/30/|Common Stock|80,790 | (3) |(1)(2) |D | |
| |/97 |(3) | | | |/97 |02 | | | | | | |
| | |(4) | | | | | | | | | | | |
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Series D Convertible |$0.94375|12/29|J(1)| |7,412(4) |A |12/31|N/A |Common Stock|785,429| (4) |(1)(2) |D | |
Preferred Stock(1) | |/97 |(3) | | | |/97 | | | | | | | |
| | |(4) | | | | | | | | | | | |
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Class D Warrants(1) |$0.94375|12/29|J(1)| |37,062(4) |A |12/31|6/30/|Common Stock|37,062 | (4) |(1)(2) |D | |
| |/97 |(3) | | | |/97 |02 | | | | | | |
| | |(4) | | | | | | | | | | | |
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Series D Convertible P|$0.94375|12/29|J(1)| |24,237(3) |A |12/31|N/A |Common Stock|2,568,1| (3) |(1)(2) |D | |
referred Stock(2) | |/97 |(3) | | | |/98 | | |59 | | | | |
| | |(4) | | | | | | | | | | | |
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Class D Warrants(2) |$0.94375|12/29|J(1)| |121,185(3) |A |12/31|6/30/|Common Stock|121,185| (3) |(1)(2) |D | |
| |/97 |(3) | | | |/98 |02 | | | | | | |
| | |(4) | | | | | | | | | | | |
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Series D Convertible |$0.94375|12/29|J(2)| | 18,420(4) |D |12/31|N/A |Common Stock|1,951,8|(4) |(1)(2) |D | |
Preferred Stock (2) | |/97 |(3) | | | |/98 | | |01 | | | | |
| | |(4) | | | | | | | | | | | |
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Class D Warrants(2) |$0.94375|12/29|J(2)| | 92,101(4) |D |12/31|6/30/|Common Stock| 92,101| (4) |(1)(2) |D | |
| |/97 |(3) | | | |/98 |02 | | | | | | |
| | |(4) | | | | | | | | | | | |
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Explanation of Responses:
See Attachment A.
(1) These Series D Preferred Stock and Class D Warrants are components of units
("Units") issuable upon exercise of warrants ("Placement Warrants")
exercisable from December 31, 1997 to December 30, 2007, at an initial
exercise price of $110,000 per Unit. 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. Lindsay A. Rosenwald, may be
deemed beneficially to own, and Paramount Capital Inc. may be deemed to
have disposed of beneficial ownership of, Placement Warrants to purchase an
aggregate of 7.41249 and 16.158 Units, respectively. The Placement Warrants
contain certain anti- dilution adjustments.
(2) These Series D Preferred Stock and Class D Warrants are components of Units
issuable upon exercise of warrants ("Advisory Warrants") exercisable from
December 31, 1998 to December 30, 2007, 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, Advisory Warrants to purchase an aggregate of 18.42012 and
24.237 Units, respectively. The Advisory Warrants contain certain
anti-dilution adjustments.
(3) On December 29, 1997, Paramount Capital Inc. designated recipients (the
"Paramount Warrant Designees") of the Placement Warrants and the Advisory
Warrants.
(4) Dr. Rosenwald was among the Paramount Warrant Designees and received such
Placement Warrants and Advisory 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
11/12/98
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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.