U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
|_| Check this box if no longer subject to Section 16. Form 4 or Form 5
obligations may continue. See Instruction 1(b).
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1. Name and Address of Reporting Person*
Rosenwald, M.D. Lindsay A.
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(Last) (First) (Middle)
787 Seventh Avenue, 48th Floor
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(Street)
New York NY 10019
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
Genta, Inc. (GNTA)
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3. IRS Identification Number of Reporting Person, if an Entity (Voluntary)
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4. Statement for Month/Year
March 2000
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5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person to Issuer
(Check all applicable)
|_| Director |X| 10% Owner
|_| Officer (give title below) |_| Other (specify below)
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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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* If the Form is filed by more than one Reporting Person, see Instruction
4(b)(v).
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Table I -- Non-Derivative Securities Acquired, Disposed of,
or Beneficially Owned
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<TABLE>
<CAPTION>
6.
4. 5. Owner-
Securities Acquired (A) or Amount of ship
3. Disposed of (D) Securities Form: 7.
Transaction (Instr. 3, 4 and 5) Beneficially Direct Nature of
2. Code ---------------------------- Owned at End (D) or Indirect
1. Transaction (Instr. 8) (A) of Month Indirect Beneficial
Title of Security Date ------------ Amount or Price (Instr. 3 (I) Ownership
(Instr. 3) (mm/dd/yy) Code V (D) and 4) (Instr.4) (Instr. 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
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By Aries
Domestic Fund,
Common Stock 03/31/00 P 24,619 A $8.998 29,620,438 I L.P. (1)
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By Aries
Domestic Fund
Common Stock 03/31/00 P 3,722 A $8.998 29,620,438 I II, L.P. (1)
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By The Aries
Common Stock 03/31/00 P 51,659 A $8.998 29,620,438 I Master Fund II (1)
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</TABLE>
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
Page 1 of 3
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FORM 4 (continued)
Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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<TABLE>
<CAPTION>
9. 10.
Number Owner-
of ship
2. Deriv- Form of
Conver- 5. 7. ative Deriv- 11.
sion Number of Title and Amount Secur- ative Nature
of Derivative 6. of Underlying 8. ities Secur- of
Exer- 4. Securities Date Securities Price Bene- ity: In-
cise 3. Trans- Acquired (A) Exercisable and (Instr. 3 and 4) of ficially Direct direct
Price Trans- action or Disposed Expiration Date ---------------- Deriv- Owned (D) or Bene-
1. of action Code of(D) (Month/Day/Year) Amount ative at End In- ficial
Title of Deriv- Date (Instr. (Instr. 3, ---------------- or Secur- of direct Owner-
Derivative ative (Month/ 8) 4 and 5) Date Expira- Number ity Month (I) ship
Security Secur- Day/ ------ ------------ Exer- tion of (Instr. (Instr. (Instr. (Instr.
(Instr. 3) ity Year) Code V (A) (D) cisable Date Title Shares 5) 4) 4) 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
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N/A
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</TABLE>
Explanation of Responses:
(1) See Attachment A
* Paramount Capital Asset Management, Inc. ("PCAM") is the general partner
of each of the Aries Domestic Fund, L.P. ("Aries I") and Aries Domestic
Fund II, L.P. ("Aries II"), each a Delaware limited partnership, and also
serves as the investment manager of the Aries Master Fund II, a Cayman
Island exempted company (the "Master Fund"), which also owns securities of
the Issuer. Dr. Rosenwald is the chairman and sole stockholder of PCAM. As
a result, Dr. Rosenwald and PCAM may be deemed to have voting and
investment control over the securities of the issuer owned by the Aries
Funds under Rule 16a-(a)(1) of the Securities Exchange Act of 1934. Dr.
Rosenwald and PCAM disclaim beneficial ownership of the securities held by
the Aries Funds, except to the extent of its pecuniary interest therein,
if any.
** Intentional misstatements or omissions of facts constitute Federal Criminal
Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
/s/ Lindsay A. Rosenwald, M.D. April 7, 2000
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** Signature of Reporting Person Date
Note: File three copies of this Form, one of which must be manually signed. If
space provided is insufficient, see Instruction 6 for procedure.
Page 2 of 3
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Attachment A
Securities beneficially owned by Dr. Rosenwald are presented on an as-converted
basis and consist of the following:
1. Warrants to purchase 25,833 shares of Series D Preferred Stock, which
convert into 2,919,602 shares of Common Stock owned directly by Dr.
Rosenwald and Class D Warrants to purchase 129,163 shares of Common Stock
owned directly by Dr. Rosenwald.
2. 12,129,036 shares of common stock of the Issuer, par value $0.01 per share
(the "Common Stock") and warrants to purchase 5,206,471 shares of Common
Stock owned by The Aries Master Fund II, a Cayman Island Exempted Company
(the "Master Fund"). Includes 5,267,232 shares of Common Stock owned
directly by the Master Fund and 1,334,018 shares of Common Stock issuable
upon conversion of 180,700 shares of Series A Convertible Preferred Stock
owned by the Master Fund and 5,540,240 shares of Common Stock issuable
upon conversion of 49,020 shares of Series D Convertible Preferred Stock.
Also includes 73,463 shares of Common Stock issuable upon conversion of
650 shares of Series D Convertible Preferred Stock underlying warrants to
purchase such shares owned by the Master Fund; Bridge Loan and Line of
Credit Warrants to purchase 5,097,258 shares of Common Stock; and 35,750
shares of common stock issuable upon exercise of Class D Warrants.
3. 5,912,598 shares of common stock of the Issuer, par value $0.01 per share
(the "Common Stock") and warrants to purchase 2,803,483 shares of Common
Stock owned by Aries Domestic Fund, L.P., a Delaware limited partnership
("Aries I"). Includes 2,415,707 shares of Common Stock owned directly by
Aries I and 513,728 shares of Common Stock issuable upon conversion of
70,100 shares of Series A Convertible Preferred Stock owned by the Aries
and 2,983,163 shares of Common Stock issuable upon conversion of 26,754
shares of Series D Convertible Preferred Stock. Also includes 39,557
shares of Common Stock issuable upon conversion of 350 shares of Series D
Convertible Preferred Stock underlying warrants to purchase such shares
owned by Aries I; Bridge Loan Warrants and Line of Credit Warrants to
purchase 2,744,676 shares of Common Stock; and 19,250 shares of Common
Stock issuable upon exercise of Class D Warrants.
4. 507,631 shares of Common Stock owned by Aries Domestic Fund II, L.P.
("Aries II" and collectively with Aries I and the Master Fund, the "Aries
Funds")
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