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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 2)*
Cellegy Pharmaceuticals, Inc.
- -------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, no par value
- -------------------------------------------------------------------------------
(Title of Class of Securities)
15115L 10 3
- -------------------------------------------------------------------------------
(CUSIP Number)
Barry L. Bloom
655 Madison Avenue--8th Floor
New York, NY 10021
(212) 521-2930
- -------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized to Receive Notices and
Communications)
March 2, 1999
- -------------------------------------------------------------------------------
(Date of Event which Requires Filing of this Statement)
If the filing person haspreviously filed a statement on Schedule 13G to report
the acquisition that is the subject of this Schedule 13D, and is filing this
schedule because of (sections)240.13d-1(e), 240.13d-1(f) or 240.13d-1(g) check
the following box |X|.
Note: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See (section) 240.13d-7(b) 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>
SCHEDULE 13D
CUSIP No. 15115L 10 3 Page 2 of 22 Pages
- -------- ----------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Four Partners
- -------- ----------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |_|
- -------- ----------------------------------------------------------------------
3 SEC USE ONLY
- -------- ----------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
- -------- ----------------------------------------------------------------------
5
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) |_|
- -------- ----------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
- -------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES -0-
------- ----------------------------------------------------
BENEFICIALLY 8
OWNED BY -0-
------- ----------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING -0-
------- ----------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH -0-
- -------- ----------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
-0- (See Item 5)
- -------- ----------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
|X|
- -------- ----------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
-0- (See Item 5)
- -------- ----------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
PN
- -------- ----------------------------------------------------------------------
*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
SCHEDULE 13D
CUSIP No. 15115L 10 3 Page 3 of 22 Pages
- -------- ----------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Four-Fourteen Partners LLC
- -------- ----------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |_|
- -------- ----------------------------------------------------------------------
3 SEC USE ONLY
- -------- ----------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
- -------- ----------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) |_|
- -------- ----------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- -------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 47,700
------- ----------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY -0-
------- ----------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 47,700
------- ----------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH -0-
- -------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
47,700 (See Item 5)
- -------- ----------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
|X|
- -------- ----------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
.5% (See Item 5)
- -------- ----------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO
- -------- ----------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
CUSIP No. 15115L 10 3 Page 4 of 22 Pages
- -------- ----------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Andrew H. Tisch
- -------- ----------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |_|
- -------- ----------------------------------------------------------------------
3 SEC USE ONLY
- -------- ----------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF
- -------- ----------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) |_|
- -------- ----------------------------------------------------------------------
6
CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- -------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 578,100
------- ----------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY -0-
------- ----------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 578,100
------- ----------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH -0-
- -------- ----------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
578,100 (See Item 5)
- -------- ----------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
|X|
- -------- ----------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.7% (See Item 5)
- -------- ----------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- -------- ----------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
CUSIP No. 15115L 10 3 Page 5 of 22 Pages
- -------- ----------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Daniel R. Tisch
- -------- ----------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |_|
- -------- ----------------------------------------------------------------------
3 SEC USE ONLY
- -------- ----------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF
- -------- ----------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) |_|
- -------- ----------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- -------- ----------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 578,100
------- ----------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY -0-
------- ----------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 578,100
------- ----------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH -0-
- -------- ----------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
578,100 (See Item 5)
- -------- ----------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
|X|
- -------- ----------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.7% (See Item 5)
- -------- ----------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- -------- ----------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
CUSIP No. 15115L 10 3 Page 6 of 22 Pages
- -------- ----------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
James S. Tisch
- -------- ----------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |_|
- -------- ----------------------------------------------------------------------
3 SEC USE ONLY
- -------- ----------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF
- -------- ----------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) |_|
- -------- ----------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- -------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 597,300
------- ----------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY -0-
------- ----------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 597,300
------- ----------------------------------------------------
PERSON 10
SHARED DISPOSITIVE POWER
WITH
-0-
- -------- ----------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
597,300 (See Item 5)
- -------- ----------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
|X|
- -------- ----------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.9% (See Item 5)
- -------- ----------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- -------- ----------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
CUSIP No. 15115L 10 3 Page 7 of 22 Pages
- -------- ----------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
Thomas J. Tisch
- -------- ----------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |_|
- -------- ----------------------------------------------------------------------
3 SEC USE ONLY
- -------- ----------------------------------------------------------------------
4 SOURCE OF FUNDS*
PF
- -------- ----------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) |_|
- -------- ----------------------------------------------------------------------
6
CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- -------- ----------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 578,100
------- ----------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY -0-
------- ----------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 578,100
------- ----------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH -0-
- -------- ----------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
578,100 (See Item 5)
- -------- ----------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
|X|
- -------- ----------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.7% (See Item 5)
- -------- ----------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
- -------- ----------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
CUSIP No. 15115L 10 3 Page 8 of 22 Pages
- -------- ----------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
The Andrew H. Tisch 1999 Annuity Trust I
- -------- ----------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |_|
- -------- ----------------------------------------------------------------------
3 SEC USE ONLY
- -------- ----------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
- -------- ----------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) |_|
- -------- ----------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- -------- ----------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 578,100
------- ----------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY -0-
------- ----------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 578,100
------- ----------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH -0-
- -------- ----------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
578,100 (See Item 5)
- -------- ----------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
|X|
- -------- ----------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.7% (See Item 5)
- -------- ----------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO
- -------- ----------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
CUSIP No. 15115L 10 3 Page 9 of 22 Pages
- -------- ----------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
The Daniel R. Tisch 1999 Annuity Trust I
- -------- ----------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |_|
- -------- ----------------------------------------------------------------------
3 SEC USE ONLY
- -------- ----------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
- -------- ----------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) |_|
- -------- ----------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- ------------------ ------- ----------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 578,100
------- ----------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY -0-
------- ----------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 578,100
------- ----------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH -0-
- -------- ----------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
578,100 (See Item 5)
- -------- ----------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
|X|
- -------- ----------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.7% (See Item 5)
- -------- ----------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO
- -------- ----------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
CUSIP No. 15115L 10 3 Page 10 of 22 Pages
- -------- ----------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
The James S. Tisch 1999 Annuity Trust I
- -------- ----------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |_|
- -------- ----------------------------------------------------------------------
3 SEC USE ONLY
- -------- ----------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
- -------- ----------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) |_|
- -------- ----------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- -------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 578,100
------- ----------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY -0-
------- ----------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 578,100
------- ----------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH -0-
- -------- ----------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
578,100 (See Item 5)
- -------- ----------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
|X|
- -------- ----------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.7% (See Item 5)
- -------- ----------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO
- -------- ----------------------------------------------------------------------
<PAGE>
SCHEDULE 13D
CUSIP No. 15115L 10 3 Page 11 of 22 Pages
- -------- ----------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
S.S. OR I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS
The Thomas J. Tisch 1999 Annuity Trust I
- -------- ----------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) |_|
(b) |_|
- -------- ----------------------------------------------------------------------
3 SEC USE ONLY
- -------- ----------------------------------------------------------------------
4 SOURCE OF FUNDS*
WC
- -------- ----------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) |_|
- -------- ----------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
- -------------------------------------------------------------------------------
NUMBER OF 7 SOLE VOTING POWER
SHARES 578,100
------- ----------------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY -0-
------- ----------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 578,100
------- ----------------------------------------------------
PERSON 10 SHARED DISPOSITIVE POWER
WITH -0-
- -------- ----------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
578,100 (See Item 5)
- -------- ----------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES*
|X|
- -------- ----------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.7% (See Item 5)
- -------- ----------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO
- -------- ----------------------------------------------------------------------
<PAGE>
CUSIP NO. 1511L2 10 3 13D Page 12 of 22 Pages
Item 1. Security and Issuer.
-------------------
The title of the class of equity securities to which this
Statement relates is the Common Stock, no par value per share (the "Common
Stock"), of Cellegy Pharmaceuticals, Inc. (the "Issuer"). The principal
executive offices of the Issuer are located at 1065 E. Hillsdale Blvd., Suite
418, Foster City, CA 94404.
Item 2. Identity and Background.
-----------------------
This statement is being filed by the following entities and
individuals:
1. Four Partners, a New York general partnership
("FP");
2. Four-Fourteen Partners, LLC, a Delaware limited
liability company ("4-14P");
3. Andrew H. Tisch;
4. Daniel R. Tisch;
5. James S. Tisch;
6. Thomas J. Tisch (Andrew H. Tisch, Daniel R. Tisch,
James S. Tisch and Thomas J. Tisch are referred to
collectively as the "Messrs. Tisch");
7. The Andrew H. Tisch 1999 Annuity Trust I
("Andrew Tisch GRAT I");
8. The Daniel R. Tisch 1999 Annuity Trust I ("Daniel
Tisch GRAT I");
9. The James S. Tisch 1999 Annuity Trust I ("James
Tisch GRAT I"); and
10. The Thomas J. Tisch 1999 Annuity Trust I ("Thomas
Tisch GRAT I"; and collectively with Andrew Tisch GRAT I, Daniel Tisch
GRAT I and James Tisch GRAT I, the "GRATs").
FP, 4-14P, Andrew H. Tisch, Daniel R. Tisch, James S. Tisch, Thomas J. Tisch,
Andrew Tisch GRAT I, Daniel Tisch GRAT I, James Tisch GRAT I, and Thomas Tisch
GRAT I are referred to herein individually as a "Reporting Person" and
collectively as the "Reporting Persons."
<PAGE>
CUSIP NO. 1511L2 10 3 13D Page 13 of 22 Pages
The principal business of FP is investments. The mailing
address of FP is c/o Barry L. Bloom, 655 Madison Avenue - 8th Floor, New York,
New York 10021. The sole partners of FP are Andrew H. Tisch 1991 Trust, for
which Andrew H. Tisch is the managing trustee, Daniel R. Tisch 1991 Trust, for
which Daniel R. Tisch is the managing trustee, James S. Tisch 1991 Trust, for
which James S. Tisch is the managing trustee, and Thomas J. Tisch 1991 Trust,
for which Thomas J. Tisch is the managing trustee. Thomas J. Tisch has been
appointed the Manager of FP.
The members of 4-14P are trusts for the benefit of the
offspring of the Messrs. Tisch, partnerships the partners of which are such
trusts and partnerships the partners of which are such partnerships. The Messrs.
Tisch serve as the trustees of such trusts. Thomas J. Tisch has been appointed
the Manager of 4-14P.
The principal business of 4-14P is investments. The mailing
address of 4-14P is c/o Thomas J. Tisch, 667 Madison Avenue, New York, New York
10021.
Each of the GRATs is a grantor retained annuity trust in which
the grantor holds an annuity interest and in which the remainder interest was
created in favor of a trust or trusts for the grantor's offspring. Thomas J.
Tisch is the grantor and Andrew H. Tisch is the trustee of Thomas Tisch GRAT I.
Daniel R. Tisch is the grantor and James S. Tisch is the trustee of Daniel Tisch
GRAT I. James S. Tisch is the grantor and Thomas J. Tisch is the trustee of
James Tisch GRAT I. Andrew H. Tisch is the grantor and Daniel R. Tisch is the
trustee of Andrew Tisch GRAT I.
To the extent that the GRATs may be deemed to have a principal
business, the principal business of each of the GRATS is investments. The
mailing address of each of the GRATs is c/o Mr. Barry Bloom, 655 Madison Avenue
- - 8th Floor, New York, New York 10021.
Set forth below is certain information with respect to the
Messrs. Tisch:
<TABLE>
<CAPTION>
Present Principal
Name Business Address Occupation
- ---- ---------------- -----------------
<S> <C> <C>
Andrew H. Tisch 667 Madison Avenue Member, Management Committee, Loews
New York, NY 10021 Corporation (a public company)
<PAGE>
CUSIP NO. 1511L2 10 3 13D Page 14 of 22 Pages
Daniel R. Tisch c/o Mentor Partners, L.P. General Partner, Mentor Partners,
499 Park Avenue L.P.(a partnership engaged in
New York, NY 10022 investment activities)
James S. Tisch 667 Madison Avenue President and Chief Operating
New York, NY 10021 Officer, Loews Corporation (a public
company)
Thomas J. Tisch 667 Madison Avenue Managing Partner of FLF Associates
New York, NY 10021 and Manager of FP and 4-14P (entities
engaged in investment activities)
</TABLE>
The Messrs. Tisch are brothers and are United States citizens.
On March 2, 1999, FP purchased 592,200 shares of Common Stock,
bringing its total ownership to 2,312,400 shares of Common Stock. On March 5,
1999, the following transfers occurred (the "GRAT Transfers"):
1. FP distributed all of the shares of
Common Stock it owned in equal shares of 578,100 each to the
four trusts that are partners of FP;
2. Each of the four trusts that are partners
of FP distributed all of the 578,100 shares of Common Stock
that it had received from FP to the Mr. Tisch who is the
beneficiary of such trust;
3. Each of the Messrs. Tisch contributed
all of the 578,100 shares of Common Stock that he had
received to the GRAT for which he is the grantor.
None of the GRAT Transfers was a "sale" for purposes of the
Securities Act of 1933, as amended (the "Securities Act"), or the Securities
Exchange Act of 1934, as amended (the "Exchange Act"), and collectively
represented only a change in the form of beneficial ownership of the shares of
Common Stock and not an actual change in the beneficial ownership of such shares
of Common Stock.
During the last five years, none of the persons or the
entities named in this Item 2 has been convicted in any criminal proceeding
(excluding traffic violations or similar misdemeanors), and none of the persons
or the entities named in this Item 2 has been a party to a civil proceeding of a
<PAGE>
CUSIP NO. 1511L2 10 3 13D Page 15 of 22 Pages
judicial or administrative body of competent jurisdiction resulting in its or
his being 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 violations with respect to such laws.
By signing this statement, each Reporting Person agrees that
this Statement is filed on its or his behalf. The filing of this statement is
not an admission by any Reporting Person that such Reporting Person and any
other Reporting Person or Reporting Persons constitute a "group" for purposes of
Section 13(d)(3) of the Exchange Act or Rule 13d-5 thereunder. Each Reporting
Person disclaims beneficial ownership of any shares of Common Stock owned by any
other Reporting Person, except to the extent that beneficial ownership is
expressly reported herein.
Item 3. Source and Amount of Funds or Other Consideration.
-------------------------------------------------
All funds used by FP and 4-14P to purchase the securities
reported in Item 5 below were provided from the working capital of FP and 4-14P,
respectively. In the case of the securities for which James S. Tisch is
custodian, the securities were purchased with personal funds of James S. Tisch.
The aggregate purchase price of the securities purchased by 4-14P is
approximately $181,011.96. The aggregate purchase price of the securities
purchased by FP is approximately $8,212,678.39. The aggregate purchase price of
the securities purchased by James S. Tisch as custodian was approximately
$107,796.60.
Item 4. Purpose of Transaction.
----------------------
The securities held by the Reporting Persons were purchased
solely for investment. The Reporting Persons expect that they will, from time to
time, review their investment positions in the Issuer and may, depending on
market and other conditions, increase or decrease such investment positions.
The Reporting Persons have no intention of seeking control of
the Issuer, nor do they have any plans or proposals with respect to any
extraordinary corporate transaction involving the Issuer or any sale of its
assets or any change in its Board of Directors, management, capitalization,
dividend policy, charter or by-laws, or any other change in its business or
corporate structure or with respect to the delisting or deregistration of any of
its securities including, without limitation, those matters
<PAGE>
CUSIP NO. 1511L2 10 3 13D Page 16 of 22 Pages
described in subparagraphs (a) through (j) of Item 4 of Schedule 13D.
Item 5. Interest in Securities of the Issuer.
------------------------------------
Each GRAT owns 578,100 shares of Common Stock. 4-14P owns
47,700 shares of Common Stock. In addition, by virtue of his status as custodian
for certain accounts of his children, James S. Tisch has power to vote or direct
the vote and dispose or direct the disposition of the 19,200 shares of Common
Stock owned by his children. The other Reporting Persons disclaim beneficial
ownership of these shares of Common Stock.
(a) Set forth in the table below is the aggregate number of
shares of Common Stock beneficially owned as of the date hereof by each person
or entity listed in Item 2 above, together with the percentage of outstanding
shares of Common Stock which is beneficially owned by each such person or
entity.
<TABLE>
<CAPTION>
Name of Amount and Nature of % of Class
Beneficial Owner Beneficial Ownership Outstanding (1)
---------------- -------------------- ---------------
<S> <C> <C>
Four Partners 0 0
Four-Fourteen Partners 47,700 0.5%
Andrew H. Tisch 1991 Trust
0 0
Daniel R. Tisch 1991 Trust
0 0
James S. Tisch
1991 Trust 0 0
Thomas J. Tisch
1991 Trust 0 0
Andrew Tisch GRAT I 578,100 5.7
Daniel Tisch GRAT I 578,100 5.7
James Tisch GRAT I 578,100 5.7
Thomas Tisch GRAT I 578,100 5.7
Andrew H. Tisch 578,100 (2) 5.7
Daniel R. Tisch 578,100 (2) 5.7
James S. Tisch 597,300 (2) 5.9
Thomas J. Tisch 578,100 (2) 5.7
Total 2,379,300 23.4% (1)
--------- ----
</TABLE>
- ------------------------------------------------------
(1) The ownership percentages set forth in the table above are based on
10,165,315 shares of Common Stock outstanding as of November 3, 1998,
which information
<PAGE>
CUSIP NO. 1511L2 10 3 13D Page 17 of 22 Pages
was reported on the Issuer's Form 10-QSB for the quarter ended
September 30, 1998.
(2) Does not include shares owned by 4-14P. Each of the Messrs. Tisch is
herein reporting beneficial ownership of the shares of Common Stock
owned by the GRAT for which he is trustee. In addition, James S. Tisch
is herein reporting beneficial ownership of 19,200 shares of Common
Stock for which he is custodian on behalf of his children.
(b) Set forth in the table below is information with respect
to the number of shares of Common Stock beneficially owned as of the date hereof
by each person or entity named in Item 2 above, indicating, with respect to such
shares of Common Stock, whether each such person has the sole power to vote or
direct the vote or shared power to vote or direct the vote and sole power to
dispose or direct the disposition or shared power to dispose or direct the
disposition.
<TABLE>
<CAPTION>
Power to Dispose or
Name of Power to Vote or Direct the
Reporting Person Direct the Vote the Disposition
---------------- --------------- --------------------
Sole Shared Sole Shared
---- ------ ---- ------
<S> <C> <C> <C> <C>
Four Partners 0 0 0 0
Four-Fourteen Partners 47,700 0 47,700 0
Andrew H. Tisch 1991 Trust 0 0 0 0
Daniel R. Tisch 1991 Trust 0 0 0 0
James S. Tisch 1991 Trust 0 0 0 0
Thomas J. Tisch 1991 Trust 0 0 0 0
Andrew Tisch GRAT I 578,100 0 578,100 0
Daniel Tisch GRAT I 578,100 0 578,100 0
James Tisch GRAT I 578,100 0 578,100 0
Thomas Tisch GRAT I 578,100 0 578,100 0
Andrew H. Tisch (1)(2) 578,100 0 578,100 0
Daniel R. Tisch (1)(2) 578,100 0 578,100 0
James S. Tisch (1)(2)(3) 597,300 0 597,300 0
Thomas J. Tisch (1)(2) 578,100 0 578,100 0
</TABLE>
(1) By virtue of their status as trustees of the respective GRATs, the
Messrs. Tisch may be deemed to have power to vote or direct the vote of
the securities owned by those
<PAGE>
CUSIP NO. 1511L2 10 3 13D Page 18 of 22 Pages
GRATs and power to dispose or direct the
disposition of the securities owned by those GRATs.
(2) By virtue of their status as trustees of the trusts which are members
of 4-14P, partners of the partnerships that are members of 4-14P and
partners of the partnerships that are partners of the partnerships that
are members of 4-14P, the Messrs. Tisch may be deemed to have
indirectly shared power to vote or direct the vote of the securities
owned by 4-14P and indirectly shared power to dispose or direct the
disposition of the securities owned by 4-14P. By virtue of his status
as manager of 4-14P, Thomas J. Tisch may be deemed to have power to
vote or direct the vote of the securities owned by 4-14P and power to
dispose or direct the disposition of the securities owned by 4-14P.
(3) By virtue of his status as custodian for certain accounts of his
children, James S. Tisch has power to vote or direct the vote and
dispose or direct the disposition of the 19,200 shares of Common Stock
owned by his children. The other Reporting Persons disclaim beneficial
ownership of these shares of Common Stock.
(c) The following transaction was effected by FP during the
sixty days preceding the date hereof. Except for the GRAT Transfers, none of the
persons or entities named in Item 2 above effected any other transactions in the
Common Stock during the 60 days preceding the date hereof.
<TABLE>
<CAPTION>
Price/Share
Transaction Date Security No. or Unit Market
- ----------- ---- -------- --- ------- ------
<S> <C> <C> <C> <C> <C>
FP Purchase 3/2/99 Common 592,200 $ 3.43 block trade
</TABLE>
(d) No other person is known to have the right to receive or
the power to direct the receipt of dividends from, or the proceeds from the sale
of, the shares of Common Stock beneficially owned by the persons and entities
named in Item 2 above.
Item 6. Contracts, Arrangements, Understandings or Relationships
with Respect to Securities of the Issuer.
--------------------------------------------------------
None of the persons or entities named in Item 2 above has any
express contracts, arrangements or understandings with any of the other persons
or entities named in Item 2 above with respect to the securities of the Issuer.
Except as set forth in this Schedule 13D, none of
<PAGE>
CUSIP NO. 1511L2 10 3 13D Page 19 of 22 Pages
the persons or entities named in Item 2 above has any contracts, arrangements,
understandings or relationships with any other person with respect to the
securities of the Issuer.
On July 23, 1997, FP entered into a Common Stock Purchase
Agreement (the "Purchase Agreement") with the Issuer pursuant to which FP
purchased 800,000 shares (the "Purchased Shares") of Common Stock at a price of
$2.375 per share. Pursuant to the Purchase Agreement, the Issuer will use all
reasonable efforts to have declared effective a registration statement providing
for the resale by FP of all of the Registrable Securities (which include, among
other things, all of the Purchased Shares and any other shares of Common Stock
owned, at the time of filing of the registration statement). The Issuer also
agreed to file documents required for normal blue sky clearance in certain
states. The Issuer agreed to indemnify FP against certain liabilities, including
liabilities under the Securities Act.
The issuance of the Purchased Shares to FP was not registered
under the Securities Act. FP acknowledged that the Purchased Shares are
characterized as "restricted securities" under the Securities Act and such
securities may be resold without registration under the Securities Act only in
certain limited circumstances.
FP agreed, with certain exceptions, not to sell any of the
Purchased Shares unless (i) there is then in effect a registration statement
under the Securities Act covering such proposed disposition or (ii) FP notifies
the Issuer of the proposed disposition and furnishes the Issuer with a statement
of the circumstances surrounding the proposed disposition and FP furnishes the
Issuer with an opinion of counsel that such disposition will not require
registration of such securities under the Securities Act. FP also agreed, to the
extent requested by the Issuer or an underwriter, to refrain from transferring
any Purchased Shares for up to 180 days after the effective date of a
registration statement of the Issuer filed under the Securities Act; provided,
however, that (i) such agreement is applicable only to the first such
registration statement of the Issuer filed after the date of the Purchase
Agreement that covers securities to be sold on its behalf to the public in an
underwritten offering but not to any Registrable Securities that are included in
and sold pursuant to such registration statement and (ii) all executive officers
and directors of the Issuer then holding Common Stock enter into similar
agreements.
The Issuer agreed to use its best efforts to notify FP in
writing before filing any registration statement under the Securities Act for
<PAGE>
CUSIP NO. 1511L2 10 3 13D Page 20 of 22 Pages
purposes of effecting a publicoffering by the Issuer of securities of the
Issuer and will afford FP an opportunity to include in such registration
statement all or any part of the securities then held by FP. Such "piggy-back"
rights granted to FP apply to the first three registration statements filed by
the Issuer after the purchase.
Other than the Purchase Agreement, none of the persons or
entities named in Item 2 above has any contracts, arrangements, understandings
or relationships with the Issuer.
Item 7. Material to Be Filed as Exhibits.
--------------------------------
Exhibit 1. Common Stock Purchase Agreement made as of July 23,
1997. Incorporated herein by reference to Schedule 13D of
FP with respect to the Common Stock filed with the
Securities and Exchange Commission on August 1, 1997.
Exhibit 2. Agreement regarding the joint filing of this statement.
<PAGE>
CUSIP NO. 1511L2 10 3 13D Page 21 of 22 Pages
SIGNATURE
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement is true,
complete and correct.
March 8, 1999
FOUR PARTNERS
By /s/ Thomas J. Tisch
-------------------------------------
Thomas J. Tisch, Manager
FOUR-FOURTEEN PARTNERS, LLC
By /s/ Thomas J. Tisch
-------------------------------------
Thomas J. Tisch, Manager
/s/ Andrew H. Tisch
----------------------------------------
Andrew H. Tisch
/s/ Daniel R. Tisch
----------------------------------------
Daniel R. Tisch
/s/ James S. Tisch
----------------------------------------
James S. Tisch
/s/ Thomas J. Tisch
----------------------------------------
Thomas J. Tisch
THE ANDREW H. TISCH 1999 ANNUITY
TRUST I
By /s/ Daniel R. Tisch
-------------------------------------
Daniel R. Tisch, Trustee
THE DANIEL R. TISCH 1999 ANNUITY
TRUST I
By /s/ James S. Tisch
-------------------------------------
James S. Tisch, Trustee
<PAGE>
CUSIP NO. 1511L2 10 3 13D Page 22 of 22 Pages
THE JAMES S. TISCH 1999 ANNUITY
TRUST I
By /s/ Thomas J. Tisch
-------------------------------------
Thomas J. Tisch, Trustee
THE THOMAS J. TISCH 1999 ANNUITY
TRUST I
By /s/ Andrew H. Tisch
-------------------------------
Andrew H. Tisch, Trustee
<PAGE>
EXHIBIT INDEX
Exhibit 1. Common Stock Purchase Agreement made as of July 23,
1997. Incorporated herein by reference to Schedule 13D of
FP with respect to the Common Stock filed with the
Securities and Exchange Commission on August 1, 1997.
Exhibit 2. Agreement regarding the joint filing of this Statement.
<PAGE>
Exhibit 2
AGREEMENT
In accordance with Rule 13d-1(k)(1) under the Securities
Exchange Act of 1934, as amended, the undersigned hereby agree that the Schedule
13D dated March 8, 1999 relating to the Common Stock, no par value per share, of
Cellegy Pharmaceuticals, Inc., as the same may be amended from time to time
hereafter, is being filed with the Securities and Exchange Commission on behalf
of each of them.
Dated: March 8, 1999
FOUR PARTNERS
By /s/ Thomas J. Tisch
-------------------------------------
Thomas J. Tisch, Manager
FOUR-FOURTEEN PARTNERS, LLC
By /s/ Thomas J. Tisch
-------------------------------------
Thomas J. Tisch, Manager
/s/ Andrew H. Tisch
----------------------------------------
Andrew H. Tisch
/s/ Daniel R. Tisch
----------------------------------------
Daniel R. Tisch
/s/ James S. Tisch
----------------------------------------
James S. Tisch
/s/ Thomas J. Tisch
----------------------------------------
Thomas J. Tisch
THE ANDREW H. TISCH 1999 ANNUITY
TRUST I
By /s/ Daniel R. Tisch
-------------------------------------
Daniel R. Tisch, Trustee
THE DANIEL R. TISCH 1999 ANNUITY
TRUST I
By /s/ James S. Tisch
-------------------------------------
James S. Tisch, Trustee
<PAGE>
THE JAMES S. TISCH 1999 ANNUITY
TRUST I
By /s/ Thomas J. Tisch
-------------------------------------
Thomas J. Tisch, Trustee
THE THOMAS J. TISCH 1999 ANNUITY
TRUST I
By /s/ Andrew H. Tisch
-------------------------------
Andrew H. Tisch, Trustee
