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:
David M. Tanen 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) 554-4356 (212) 715-9100
(Name, Address and Telephone Number of Person Authorized to Receive Notices
and Communications)
April 20, 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
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- --------------------------------------------------------------------------------
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 21,166,537
WITH ------------------------------------------
9 SOLE DISPOSITIVE POWER
None
------------------------------------------
10 SHARED DISPOSITIVE POWER
21,166,537
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
21,166,537
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES*
|_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
66.9% (54.4% 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 April 20, 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) 54.4% 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 3 of 11 Pages
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- --------------------------------------------------------------------------------
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 7,009,767
WITH ------------------------------------------
9 SOLE DISPOSITIVE POWER
None
------------------------------------------
10 SHARED DISPOSITIVE POWER
7,009,767
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
7,009,767
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES*
|_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
33.6% (21.0% 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 April 20, 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) 21.0% 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 4 of 10 Pages
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- --------------------------------------------------------------------------------
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 14,156,770
WITH ------------------------------------------
9 SOLE DISPOSITIVE POWER
None
------------------------------------------
10 SHARED DISPOSITIVE POWER
14,156,770
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
14,156,770
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES*
|_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
54.4% (39.2% 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 April 20, 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) 39.2% 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
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- --------------------------------------------------------------------------------
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 21,166,537
WITH ------------------------------------
9 SOLE DISPOSITIVE POWER
2,866,393**
------------------------------------
10 SHARED DISPOSITIVE POWER
21,166,537
- --------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
24,032,930**
- --------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN
SHARES*
|_|
- --------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
69.7% (57.5% 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 April 20, 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) 57.5% of the aggregate voting
power of the Common Stock and Series D Preferred Stock outstanding.
<PAGE>
SCHEDULE 13D
This Amendment No. 14 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 2. Identity and Background
Item 2 is hereby amended in its entirety to read as follows:
(a) This statement is filed on behalf of Paramount Capital Asset
Management, Inc. ("Paramount Capital"), Aries Domestic Fund, L.P.
("Aries Domestic"), The Aries Trust ("Aries Trust"), Dr. Lindsay
A. Rosenwald (together with Paramount Capital, Aries Domestic and
Aries Trust, the "Aries Reporting Persons" or the "Filing
Persons"). See attached Exhibit AE which is a copy of their
agreement in writing to file this statement jointly on behalf of
each of them. The Aries Reporting Persons have made, and will
continue to make, their own investment decisions.
(b) The business address of Paramount Capital, Aries Domestic and Dr.
Rosenwald is 787 Seventh Avenue, 48th Floor, New York, New York,
10019. The business address for Aries Trust is c/o MeesPierson
(Cayman) Limited, P.O. Box 2003, British American Centre, Phase
3, Dr. Roy's Drive, George Town, Grand Cayman.
(c) Dr. Rosenwald is an investment banker, venture capitalist, fund
manager and sole shareholder of Paramount Capital,1 a Subchapter
S corporation incorporated in the State of Delaware. Paramount
Capital is the General Partner of Aries Domestic,2 a limited
partnership organized under the laws of Delaware. Paramount
Capital is the Investment Manager to Aries Trust,3 a Cayman
Islands Trust.
- --------
1 Please see Exhibit B, filed herewith, indicating the
executive officers and directors of Paramount Capital and
providing information called for by Items 2-6 of this
statement as to said officers and directors. Exhibit B is
herein incorporated by reference.
2 Please see Exhibit C indicating the general partner of
Aries Domestic and the general partner's executive
officers and directors and providing information called
for by Items 2-6 of this statement as to said general
partners, officers and directors. Exhibit C is herein
incorporated by reference.
3 Please see Exhibit D indicating the investment manager of
the Aries Trust and the investment manager's executive
officers and directors and providing information called
for by Items 2-6 of this statement as to said investment
manager and officers and directors. Exhibit D is herein
incorporated by reference.
Page 6 of 11 Pages
<PAGE>
(d) Dr. Rosenwald, Paramount Capital, Aries Domestic and Aries Trust
and their respective officers, directors, general partners,
investment managers, and trustees have not, during the five years
prior to the date hereof, been convicted in a criminal proceeding
(excluding traffic violations or similar misdemeanors).
(e) Dr. Rosenwald, Paramount Capital, Aries Domestic and Aries Trust
and their respective officers, directors, general partners,
investment managers, and trustees have not been, during the five
years prior to the date hereof, parties to a civil proceeding of
a judicial or administrative body of competent jurisdiction, as a
result of which such person was or is subject to a judgment,
decree or final order enjoining future violations of, or
prohibiting or mandating activities subject to, Federal or State
securities laws or finding any violation with respect to such
laws.
(f) Dr. Rosenwald is a citizen of the United States.
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 March 10 and April 20, 1999, Aries Trust and Aries
Domestic used their respective general funds to purchase 421,900 and 256,800
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
- ---- ------------- --------------
3/10/99 14,000 $2.188
3/2599 33,500 $2.207
3/26/99 33,500 $2.335
3/29/99 26,300 $2.362
3/30/99 26,300 $2.433
3/31/99 26,300 $2.446
4/6/99 27,000 $2.381
4/7/99 27,000 $2.383
4/8/99 27,000 $2.398
4/9/99 27,000 $2.344
4/12/99 26,600 $2.319
4/13/99 26,600 $2.344
4/14/99 26,600 $2.266
4/15/99 26,600 $2.290
4/16/99 26,600 $2.290
4/19/99 14,000 $2.469
4/20/99 7,000 $2.438
Page 7 of 11 Pages
<PAGE>
Aries Domestic made the following purchases:
Date No. of Shares Purchase Price
- ---- ------------- --------------
3/10/99 6,000 $2.188
3/2599 14,400 $2.207
3/26/99 14,400 $2.335
3/29/99 11,300 $2.362
3/30/99 11,300 $2.433
3/31/99 11,300 $2.446
4/1/99 37,600 $2.429
4/5/99 38,500 $2.406
4/6/99 11,500 $2.381
4/7/99 11,500 $2.383
4/8/99 11,500 $2.398
4/9/99 11,500 $2.344
4/12/99 11,400 $2.319
4/13/99 11,400 $2.344
4/14/99 11,400 $2.266
4/15/99 11,400 $2.290
4/16/99 11,400 $2.290
4/19/99 6,000 $2.469
4/20/99 3,000 $2.438
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 April 20, 1999: 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 24,032,930 shares or 69.7% of the
Issuer's Common Stock; and Paramount Capital, through the
acquisitions of securities by Aries Trust and Aries
Domestic, may be deemed beneficially to own 21,166,537
shares or 66.9% 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 7,009,767
Aries Trust 14,156,770
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
Page 8 of 11 Pages
<PAGE>
Rule 13d-4 promulgated under the Securities Exchange Act
of 1934, as amended, the Filing Persons each disclaim
beneficial ownership of the securities held by each other.
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 April 20, 1999, 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)
57.5%, 54.4% and 39.2%, 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.
(c) Other than certain of the open market purchases of Common
Stock reported in Item 3, the Filing Persons have not
engaged in any transactions in the Common Stock of the
Issuer in the past 60 days.
(d)&(e) Not applicable.
Item 7. Material to be Filed as Exhibits.
Exhibit AE: Agreement of Joint Filing of Schedule 13D dated as of
April 29, 1999.
Page 9 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: April 29, 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: April 29, 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: April 29, 1999
New York, NY By: /s/ Lindsay A. Rosenwald, M.D.
---------------------------------------
Lindsay A. Rosenwald, M.D.
Chairman
Dated: April 29, 1999
New York, NY /s/ Lindsay A. Rosenwald, M.D.
---------------------------------------
Lindsay A. Rosenwald, M.D.
Page 10 of 11 Pages
<PAGE>
EXHIBIT AE
----------
AGREEMENT
JOINT FILING OF SCHEDULE 13D
The undersigned hereby agree jointly to prepare and file with
regulatory authorities a Schedule 13D and any future amendments thereto
reporting each of the undersigned's ownership of securities of Genta
Incorporated and hereby affirm that such Schedule 13D is being filed on behalf
of each of the undersigned.
PARAMOUNT CAPITAL ASSET MANAGEMENT, INC.
Dated: April 29, 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: April 29, 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: April 29, 1999
New York, NY By: /s/ Lindsay A. Rosenwald, M.D.
---------------------------------------
Lindsay A. Rosenwald, M.D.
Chairman
Dated: April 29, 1999
New York, NY /s/ Lindsay A. Rosenwald, M.D.
---------------------------------------
Lindsay A. Rosenwald, M.D.
Page 11 of 11 Pages
