SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
AMENDED SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 13)*
Genta Incorporated
------------------
(Name of Issuer)
Common Stock, par value $.001 per share
---------------------------------------
(Title of Class of Securities)
372 45 M 20 7
-------------
(CUSIP Number)
Paramount Capital Asset Management, Inc.
c/o Lindsay A. Rosenwald, M.D.
787 Seventh Avenue
New York, NY 10019
(212) 554-4300
with a copy to:
Michael S. Weiss Monica C. Lord, Esq.
Paramount Capital Asset Kramer Levin
Management, Inc. Naftalis & Frankel LLP
787 Seventh Avenue 919 Third Avenue
New York, NY 10019 New York, NY 10022
(212) 554-4372 (212) 715-9100
(Name, Address and Telephone Number of Person Authorized to Receive Notices
and Communications)
March 9, 1999
-------------------
(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:
| |
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
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose 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 11 Pages
<PAGE>
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CUSIP No. 372 45 M 20 7 13D Page 2 of 11 Pages
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Paramount Capital Asset Management, Inc.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) |_|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO (see Item 3)
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEM 2(d) or 2(e)
|-|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY None
OWNED BY ------------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING
PERSON 20,445,050
WITH ------------------------------------------
9 SOLE DISPOSITIVE POWER
None
------------------------------------------
10 SHARED DISPOSITIVE POWER
20,445,050
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
20,445,050
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES*
|_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
67.0% (53.0% of the outstanding voting power)**
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
CO
- --------------------------------------------------------------------------------
** The outstanding shares of Series D Preferred Stock of the Issuer are entitled
to vote together with the holders of Common Stock on all matters submitted to a
vote of stockholders of the Issuer. As of March 9, 1999, Paramount Capital
Asset Management, Inc. may be deemed beneficially to own (within the meaning of
Rule 13d-3 under the Securities Exchange Act of 1934, as amended) 53.0% of the
aggregate voting power of the Common Stock and Series D Preferred Stock
outstanding.
<PAGE>
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CUSIP No. 372 45 M 20 7 13D Page 3 of 11 Pages
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Aries Domestic Fund, L.P.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) |_|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO (see Item 3)
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEM 2(d) or 2(e)
|-|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY None
OWNED BY ------------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING
PERSON 6,741,008
WITH ------------------------------------------
9 SOLE DISPOSITIVE POWER
None
------------------------------------------
10 SHARED DISPOSITIVE POWER
6,741,008
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
6,741,008
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES*
|_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
34.1% (20.4% of the outstanding voting power)**
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- --------------------------------------------------------------------------------
** The outstanding shares of Series D Preferred Stock of the Issuer are entitled
to vote together with the holders of Common Stock on all matters submitted to a
vote of stockholders of the Issuer. As of March 9, 1999, the Aries Domestic
Fund, L.P. may be deemed beneficially to own (within the meaning of Rule 13d-3
under the Securities Exchange Act of 1934, as amended) 20.4% of the aggregate
voting power of the Common Stock and Series D Preferred Stock outstanding.
<PAGE>
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CUSIP No. 372 45 M 20 7 13D Page 4 of 10 Pages
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
The Aries Trust
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) |_|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO (see Item 3)
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEM 2(d) or 2(e)
|-|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY None
OWNED BY ------------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING
PERSON 13,704,042
WITH ------------------------------------------
9 SOLE DISPOSITIVE POWER
None
------------------------------------------
10 SHARED DISPOSITIVE POWER
13,704,042
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
13,704,042
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES*
|_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
55.0% (38.3% of the outstanding voting power)**
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON* OO (see Item 2)
- --------------------------------------------------------------------------------
** The outstanding shares of Series D Preferred Stock of the Issuer are entitled
to vote together with the holders of Common Stock on all matters submitted to a
vote of stockholders of the Issuer. As of March 9, 1999, The Aries Trust may
be deemed beneficially to own (within the meaning of Rule 13d-3 under the
Securities Exchange Act of 1934, as amended) 38.3% of the aggregate voting power
of the Common Stock and Series D Preferred Stock outstanding.
<PAGE>
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CUSIP No. 372 45 M 20 7 13D Page 5 of 10 Pages
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Lindsay A. Rosenwald, M.D.
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) |_|
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO (see Item 3)
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e)
|-|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 2,866,393**
OWNED BY ------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING
PERSON 20,445,050
WITH ------------------------------------
9 SOLE DISPOSITIVE POWER
2,866,393**
------------------------------------
10 SHARED DISPOSITIVE POWER
20,445,050
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
23,311,443**
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN
SHARES*
|_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
69.8% (56.3% of the outstanding voting power)**
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
** The outstanding shares of Series D Preferred Stock of the Issuer are entitled
to vote together with the holders of Common Stock on all matters submitted to a
vote of stockholders of the Issuer. As of March 9, 1999, Lindsay A. Rosenwald,
M.D. may be deemed beneficially to own (within the meaning of Rule 13d-3 under
the Securities Exchange Act of 1934, as amended) 56.3% of the aggregate voting
power of the Common Stock and Series D Preferred Stock outstanding.
<PAGE>
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CUSIP No. 372 45 M 20 7 13D Page 6 of 10 Pages
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Hawkins Group, LLC
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) [x]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
OO (see Item 3)
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e)
|-|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY None
OWNED BY ----------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING
PERSON 526,737
WITH ----------------------------------------
9 SOLE DISPOSITIVE POWER
None
----------------------------------------
10 SHARED DISPOSITIVE POWER
526,737
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
526,737
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN
SHARES*
|_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.6% (1.7% of the outstanding voting power)***
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO (See Item 2)
- --------------------------------------------------------------------------------
*** The outstanding shares of Series D Preferred Stock of the Issuer are
entitled to vote together with the holders of Common Stock on all matters
submitted to a vote of stockholders of the Issuer. As of March 9, 1999, Hawkins
Group, LLC may be deemed beneficially to own (within the meaning of Rule 13d-3
under the Securities Exchange Act of 1934, as amended) 1.7% of the aggregate
voting power of the Common Stock and Series D Preferred Stock outstanding.
<PAGE>
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CUSIP No. 372 45 M 20 7 13D Page 6 of 10 Pages
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- --------------------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Mr. Michael S. Weiss
- --------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_|
(b) [x]
- --------------------------------------------------------------------------------
3 SEC USE ONLY
- --------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF (see Item 3)
- --------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED
PURSUANT TO ITEM 2(d) or 2(e)
|-|
- --------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- --------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES
BENEFICIALLY 148,327
OWNED BY ----------------------------------------
EACH 8 SHARED VOTING POWER
REPORTING
PERSON 526,737
WITH ----------------------------------------
9 SOLE DISPOSITIVE POWER
148,327
----------------------------------------
10 SHARED DISPOSITIVE POWER
526,737
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
675,064
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN
SHARES*
|_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
4.6% (2.2% of the outstanding voting power)***
- --------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- --------------------------------------------------------------------------------
*** The outstanding shares of Series D Preferred Stock of the Issuer are
entitled to vote together with the holders of Common Stock on all matters
submitted to a vote of stockholders of the Issuer. As of March 9, 1999, Mr.
Michael S. Weiss may be deemed beneficially to own (within the meaning of Rule
13d-3 under the Securities Exchange Act of 1934, as amended) 2.2% of the
aggregate voting power of the Common Stock and Series D Preferred Stock
outstanding.
<PAGE>
SCHEDULE 13D
This Amendment No. 13 amends and supplements the following
items of the Reporting Persons' Statement on Schedule 13D, dated February 24,
1997, as amended to date (the "Schedule").
Item 3. Source and Amount of Funds or Other Consideration
The information contained in Item 3 to the Schedule is hereby
amended by adding the following:
Between February 9, and March 9, 1999, Aries Trust and Aries
Domestic used their respective general funds to purchase 890,090 and 115,600
shares of Common Stock (additional "Purchased Common Stock"), respectively, on
the open market.
Aries Trust made the following purchases:
Date No. of Shares Purchase Price
- ---- ------------- --------------
2/2/99 20,000 $2.281
2/3/99 20,000 $2.250
2/4/99 20,000 $2.250
2/5/99 20,000 $2.172
2/8/99 20,000 $2.172
2/9/99 20,000 $2.016
2/10/99 90,000 $1.898
2/11/99 20,000 $1.969
2/12/99 146,340 $2.075
2/16/99 20,000 $2.234
2/18/99 20,000 $2.141
2/19/99 20,000 $2.125
2/22/99 20,000 $2.125
2/23/99 20,000 $1.984
2/24/99 66,800 $2.011
2/25/99 66,800 $1.967
2/25/99 106,350 $1.938
2/26/99 66,800 $2.229
3/1/99 30,000 $2.229
3/2/99 21,000 $2.198
3/3/99 14,000 $2.156
3/4/99 14,000 $2.109
3/5/99 14,000 $2.125
3/9/99 14,000 $2.109
Page 8 of 11 Pages
<PAGE>
Aries Domestic made the following purchase:
Date No. of Shares Purchase Price
- ---- ------------- --------------
2/12/99 62,600 $2.075
3/2/99 9,000 $2.198
3/3/99 6,000 $2.156
3/4/99 6,000 $2.109
3/5/99 6,000 $2.125
3/8/99 20,000 $2.047
3/9/99 6,000 $2.109
In addition, on March 3, 1999, Aries Trust and Aries Domestic purchased
an aggregate of 20,000 shares of Series A Preferred Stock in a private
placement. Aries Trust used $126,962.50 of its general funds to acquire 14,000
shares of Series A Preferred Stock, which are convertible into approximately
101,572 shares of Common Stock and Aries Domestic used $54,412.50 of its general
funds to acquire 6,000 shares of Series A Preferred Stock, which are convertible
into approximately 43,531 shares of Common Stock.
Item 5. Interest in Securities of Issuer.
The information contained in Item 5 to the Schedule is hereby amended
and supplemented to read as follows:
(a) As of March 9, 1998: Dr. Rosenwald, as the sole
shareholder of Paramount Capital and as the holder of
Placement Warrants and Advisory Warrants, may be deemed
beneficially to own 23,311,443 shares or 69.8% of the
Issuer's Common Stock; Paramount Capital, through the
acquisitions of securities by Aries Trust and Aries
Domestic, may be deemed beneficially to own 20,445,050
shares or 67.0% of the Issuer's Common Stock; and Mr.
Weiss, as Managing Member of Hawkins and as the holder of
securities of the Issuer, may be deemed beneficially to
own 675,064 shares or 4.6% of the Issuer's Common Stock.
Aries Domestic, Aries Trust and Hawkins may be deemed
beneficially to own the following numbers of shares of
Common Stock:
Aries Domestic 6,741,008
Aries Trust 13,704,042
Hawkins 526,737
Pursuant to Rule 13d-4 promulgated under the Securities
Exchange Act of 1934, as amended, the Filing Persons
disclaim beneficial ownership of all the Common Stock
except the Purchased Common Stock. Pursuant to Rule 13d-4
promulgated under the Securities Exchange Act of 1934, as
amended, the Aries Reporting Persons, Mr. Weiss and
Hawkins each disclaim beneficial ownership of the
securities held by each other.
Page 9 of 11 Pages
<PAGE>
The outstanding shares of Series D Preferred Stock of the
Issuer are entitled to vote together with the holders of
Common Stock on all matters submitted to a vote of
stockholders of the Issuer. As of December 28, 1998, Dr.
Rosenwald, Paramount Capital and Aries Trust may be deemed
beneficially to own (within the meaning of Rule 13d-3
under the Securities Exchange Act of 1934, as amended)
56.3%, 53.0% and 38.3%, respectively, of the aggregate
voting power of the Common Stock and Series D Preferred
Stock outstanding.
(b) Dr. Rosenwald and Paramount Capital share the power to
vote or to direct the vote and to dispose or to direct the
disposition of those shares owned by each of Aries
Domestic and Aries Trust. Dr. Rosenwald has the sole power
to vote or to direct the vote and to dispose or to direct
the disposition of the shares underlying the Placement
Warrants and Advisory Warrants held by him. Mr. Weiss and
Hawkins share the power to vote or to direct the vote and
to dispose or to direct the disposition of the shares
owned by Hawkins. Mr. Weiss has the sole power to vote or
to direct the vote and to dispose or to direct the
disposition of the shares that he owns.
(c) Other than certain of the open market purchases of Common
Stock reported in Item 3, the Reporting Persons have not
engaged in any transactions in the Common Stock of the
Issuer in the past 60 days.
(d)&(e) Not applicable.
Page 10 of 11 Pages
<PAGE>
SIGNATURES
----------
After reasonable inquiry and to the best knowledge and belief
of the undersigned, the undersigned certify that the information set forth in
this statement is true, complete and correct.
PARAMOUNT CAPITAL ASSET MANAGEMENT, INC.
Dated: March 12, 1999
New York, NY By: /s/ Lindsay A. Rosenwald, M.D.
---------------------------------------
Lindsay A. Rosenwald, M.D.
Chairman
ARIES DOMESTIC FUND, L.P.
By: Paramount Capital Asset Management, Inc.
General Partner
Dated: March 12, 1999
New York, NY By: /s/ Lindsay A. Rosenwald, M.D.
---------------------------------------
Lindsay A. Rosenwald, M.D.
Chairman
THE ARIES TRUST
By: Paramount Capital Asset Management, Inc.
Investment Manager
Dated: March 12, 1999
New York, NY By: /s/ Lindsay A. Rosenwald, M.D.
---------------------------------------
Lindsay A. Rosenwald, M.D.
Chairman
Dated: March 12, 1999
New York, NY /s/ Lindsay A. Rosenwald, M.D.
---------------------------------------
Lindsay A. Rosenwald, M.D.
Dated: March 12, 1999
New York, NY /s/ Mr. Michael S. Weiss
---------------------------------------
Mr. Michael S. Weiss
HAWKINS GROUP, LLC
Dated: March 12, 1999
New York, NY By: /s/ Mr. Michael S. Weiss
---------------------------------------
Mr. Michael S. Weiss
Managing member
Page 11 of 11 Pages
