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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 10-C
REPORT BY ISSUER OF SECURITIES QUOTED ON NASDAQ
INTERDEALER QUOTATION SYSTEM
Filed pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934 and Rule 13a-17
or 15d-17 thereunder
PROCEPT, INC.
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(Exact name of issuer as specified in charter)
840 Memorial Drive, Cambridge, Massachusetts 02139
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(Address of principal executive offices)
Issuer's telephone number, including area code (617) 491-1100
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I. CHANGE IN NUMBER OF SHARES OUTSTANDING
Indicate any change (increase or decrease) of five percent or more in the number
of shares outstanding:
1. Title of security: Common Stock, $0.01 par value
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2. Number of shares outstanding before the change: 8,864,750
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3. Number of shares outstanding after the change: 14,186,146
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4. Effective date of change: May 17, 1996
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5. Method of change: Specify method (such as merger, acquisition, exchange,
distribution, stock split, reverse split, acquisition of stock for treasury,
etc) Private Placement
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Give brief description of transaction: On May 17, 1996, Procept, Inc. sold
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5,321,396 shares of its Common Stock, $0.01 par value, to individual purchasers
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at a purchase price of $2.44375 per Unit, each Unit consisting of one share of
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Common Stock and a warrant to purchase one share of Common Stock, pursuant to a
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Private Placement Memorandum and Subscription Agreements between Procept, Inc.
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and the individual purchasers.
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II. CHANGE IN NAME OF ISSUER
1. Name prior to change ______________________________________________________
2. Name after change _________________________________________________________
3. Effective date of charter amendment changing name _________________________
4. Date of shareholder approval of change, if required _______________________
Date May 24, 1996 /s/ Michael J. Higgins
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Michael J. Higgins
Vice President, Finance
and Chief Financial Officer
