UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D/A
(Amendment No. 4)
Under the Securities Exchange Act of 1934
IMPAX LABORATORIES, INC.
(formerly GLOBAL PHARMACEUTIUCAL CORPORATION)
-------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, $.01 par value
-------------------------------------------------------------------------------
Title of Class of Securities
45256B101
-------------------------------------------------------------------------------
CUSIP Number
Larry A. Kimmel
Robert Fleming Inc.
320 Park Avenue, 11th Floor
New York, NY 10022
(212) 508-3610
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
November 28, 2000
-------------------------------------------------------------------------------
(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 box
|_|.
Note: Schedules filed in paper format shall include a signed original
and five copies of the schedule, including all exhibits. See Rule 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>
CUSIP No. 45256B101 SCHEDULE 13D/A Page 2 of 7 Pages
--------------------------------------------------------------------------------
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
FLEMING US DISCOVERY FUND III, L.P.
--------------------------------------------------------------------------------
2 Check the Appropriate Box If a Member of a Group
a. |X|
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
--------------------------------------------------------------------------------
7 Sole Voting Power
Number of
Shares 4,704,219 shares of Common Stock
Beneficially --------------------------------------------------------
Owned By 8 Shared Voting Power
Each
Reporting 754,115 shares of Common Stock
Person --------------------------------------------------------
With 9 Sole Dispositive Power
4,704,219 shares of Common Stock
--------------------------------------------------------
10 Shared Dispositive Power
754,115 shares of Common Stock
--------------------------------------------------------
--------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
5,458,334 shares of Common Stock
--------------------------------------------------------------------------------
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares |_|
--------------------------------------------------------------------------------
13 Percent of Class Represented By Amount in Row (11)
16.70%
--------------------------------------------------------------------------------
14 Type of Reporting Person
PN
--------------------------------------------------------------------------------
SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. 45256B101 SCHEDULE 13D/A Page 3 of 7 Pages
--------------------------------------------------------------------------------
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
FLEMING US DISCOVERY OFFSHORE FUND III, L.P.
--------------------------------------------------------------------------------
2 Check the Appropriate Box If a Member of a Group
a. |X|
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
Bermuda
--------------------------------------------------------------------------------
7 Sole Voting Power
Number of
Shares 754,115 shares of Common Stock
Beneficially --------------------------------------------------------
Owned By 8 Shared Voting Power
Each
Reporting 4,704,219 shares of Common Stock
Person --------------------------------------------------------
With 9 Sole Dispositive Power
754,115 shares of Common Stock
--------------------------------------------------------
10 Shared Dispositive Power
4,704,219 shares of Common Stock
--------------------------------------------------------
--------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
5,458,334 shares of Common Stock
--------------------------------------------------------------------------------
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares |_|
--------------------------------------------------------------------------------
13 Percent of Class Represented By Amount in Row (11)
16.70%
--------------------------------------------------------------------------------
14 Type of Reporting Person
PN
--------------------------------------------------------------------------------
SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
<PAGE>
CUSIP No. 45256B101 SCHEDULE 13D/A Page 4 of 7 Pages
--------------------------------------------------------------------------------
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
FLEMING US DISCOVERY PARTNERS, L.P.
--------------------------------------------------------------------------------
2 Check the Appropriate Box If a Member of a Group
a. |X|
b. |_|
--------------------------------------------------------------------------------
3 SEC Use Only
--------------------------------------------------------------------------------
4 Source of Funds
AF
--------------------------------------------------------------------------------
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
--------------------------------------------------------------------------------
7 Sole Voting Power
Number of
Shares 0 shares of Common Stock
Beneficially --------------------------------------------------------
Owned By 8 Shared Voting Power
Each
Reporting 5,458,334 shares of Common Stock
Person --------------------------------------------------------
With 9 Sole Dispositive Power
0 shares of Common Stock
--------------------------------------------------------
10 Shared Dispositive Power
5,458,334 shares of Common Stock
--------------------------------------------------------
--------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
5,458,334 shares of Common Stock
--------------------------------------------------------------------------------
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares |_|
--------------------------------------------------------------------------------
13 Percent of Class Represented By Amount in Row (11)
16.70%
--------------------------------------------------------------------------------
14 Type of Reporting Person
PN
--------------------------------------------------------------------------------
SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. 45256B101 SCHEDULE 13D/A Page 5 of 7 Pages
--------------------------------------------------------------------------------
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
FLEMING US DISCOVERY, LLC
--------------------------------------------------------------------------------
2 Check the Appropriate Box If a Member of a Group
a. |_|
b. |_|
--------------------------------------------------------------------------------
3 SEC Use Only
--------------------------------------------------------------------------------
4 Source of Funds
AF
--------------------------------------------------------------------------------
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
--------------------------------------------------------------------------------
7 Sole Voting Power
Number of
Shares 5,458,334 shares of Common Stock
Beneficially --------------------------------------------------------
Owned By 8 Shared Voting Power
Each
Reporting 5,458,334 shares of Common Stock
Person --------------------------------------------------------
With 9 Sole Dispositive Power
5,458,334 shares of Common Stock
--------------------------------------------------------
10 Shared Dispositive Power
5,458,334 shares of Common Stock
--------------------------------------------------------
--------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
5,458,334 shares of Common Stock
--------------------------------------------------------------------------------
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares |_|
--------------------------------------------------------------------------------
13 Percent of Class Represented By Amount in Row (11)
16.70%
--------------------------------------------------------------------------------
14 Type of Reporting Person
OO
--------------------------------------------------------------------------------
SEE INSTRUCTIONS BEFORE FILLING OUT!
CUSIP No. 45256B101 SCHEDULE 13D/A Page 6 of 7 Pages
--------------------------------------------------------------------------------
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
ROBERT FLEMING INC.
--------------------------------------------------------------------------------
2 Check the Appropriate Box If a Member of a Group
a. |_|
b. |_|
--------------------------------------------------------------------------------
3 SEC Use Only
--------------------------------------------------------------------------------
4 Source of Funds
AF
--------------------------------------------------------------------------------
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
--------------------------------------------------------------------------------
7 Sole Voting Power
Number of
Shares 833,300 shares of Common Stock
Beneficially --------------------------------------------------------
Owned By 8 Shared Voting Power
Each
Reporting 0 shares of Common Stock
Person --------------------------------------------------------
With 9 Sole Dispositive Power
833,300 shares of Common Stock
--------------------------------------------------------
10 Shared Dispositive Power
0 shares of Common Stock
--------------------------------------------------------
--------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
6,291,634 shares of Common Stock
--------------------------------------------------------------------------------
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares |_|
--------------------------------------------------------------------------------
13 Percent of Class Represented By Amount in Row (11)
19.25%
--------------------------------------------------------------------------------
14 Type of Reporting Person
IA, CO
--------------------------------------------------------------------------------
SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
CUSIP No. 45256B101 SCHEDULE 13D/A Page 7 of 7 Pages
--------------------------------------------------------------------------------
1 Name of Reporting Person
S.S. or I.R.S. Identification No. of Above Person
THE CHASE MANHATTAN CORPORATION*
* The Chase Manhattan Corporation disclaims any beneficial ownership of the
shares of Impax Laboratories Inc. reported as beneficially owned by its wholly
owned subsidiary, Robert Fleming Inc.
--------------------------------------------------------------------------------
2 Check the Appropriate Box If a Member of a Group
a. |_|
b. |_|
--------------------------------------------------------------------------------
3 SEC Use Only
--------------------------------------------------------------------------------
4 Source of Funds
AF
--------------------------------------------------------------------------------
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
--------------------------------------------------------------------------------
7 Sole Voting Power
Number of
Shares 0 shares of Common Stock
Beneficially --------------------------------------------------------
Owned By 8 Shared Voting Power
Each
Reporting 0 shares of Common Stock
Person --------------------------------------------------------
With 9 Sole Dispositive Power
0 shares of Common Stock
--------------------------------------------------------
10 Shared Dispositive Power
0 shares of Common Stock
--------------------------------------------------------
--------------------------------------------------------------------------------
11 Aggregate Amount Beneficially Owned by Each Reporting Person
0 shares of Common Stock
--------------------------------------------------------------------------------
12 Check Box If the Aggregate Amount in Row (11) Excludes Certain Shares |_|
--------------------------------------------------------------------------------
13 Percent of Class Represented By Amount in Row (11)
0%
--------------------------------------------------------------------------------
14 Type of Reporting Person
HC
--------------------------------------------------------------------------------
SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
STATEMENT PURSUANT TO RULE 13d-1
OF THE
GENERAL RULES AND REGULATIONS
UNDER THE
SECURITIES EXCHANGE ACT OR 1934, AS AMENDED
================================================================================
This Amendment No. 4 to Schedule 13D filed on December 20, 2000, as
amended by Amendment No. 1 thereto filed on July 15, 1999, Amendment No. 2
thereto filed on December 14, 1999, Amendment No. 3 filed on March 12, 2000,
relates to the common stock, $.01 par value per share (the "Common Stock"), of
Impax Laboratories, Inc., a Delaware corporation (the "Issuer"). Information in
the original Schedule 13D and Amendment No. 1 thereto, Amendment No. 2 thereto
and Amendment No. 3 thereto remains in effect except to the extent that it is
superseded by subsequently filed information, including the information
contained in this Amendment No. 4. Information given in response to each item
shall be deemed incorporated by reference in all other items. Terms used and not
defined herein have the meanings ascribed to them in said Schedule 13D, as
amended. The purpose of this Amendment No. 4 to the previously filed Schedule
13D is to report that the ownership of the "Reporting Persons" in the Common
Stock has increased from 15.71% to 16.7% (and to 19.25% in certain instances).
The responses to Items 2, 3, 5, 6 and 7 of the Schedule 13D are hereby amended
and supplemented as follows:
Item 2. Identity and Background.
This statement is being filed pursuant to a Joint Filing Agreement
(attached as Exhibit 1 hereto and incorporated herein by reference) by (i)
Fleming US Discovery Fund III, L.P. ("US Fund"), (ii) Fleming US Discovery
Offshore Fund III, L.P. ("Offshore Fund"), (iii) Fleming US Discovery Partners,
L.P., ("Fleming Partners"), the general partner of the US Fund and a general
partner of the Offshore Fund, (iv) Fleming US Discovery, LLC ("Discovery"), the
general partner of Fleming Partners, (v) Robert Fleming Inc. ("RFI"), investment
adviser to the US Fund and Offshore Fund (collectively, the "Funds"), and (vi)
The Chase Manhattan Corporation. ("Chase"), the parent of RFI (sometimes
collectively referred to as the "Reporting Persons").
Item 3. Source and Amount of Funds or Other Consideration.
On November 20, 2000, the US Fund entered into the Stock Purchase
Agreement ("US Fund Purchase Agreement"), dated as of November 20, 2000, between
the Issuer and the US Fund (attached as Exhibit 2 hereto and incorporated herein
by reference), to purchase, for a total purchase price of $4,309,002, 718,167
shares of Common Stock. The US Fund purchased such shares of Common Stock, which
were acquired by the US Fund at the closing on November 28, 2000, with its
working capital. No part of the purchase price was or will be represented by
funds or other consideration borrowed or otherwise obtained for the purpose of
acquiring, holding, trading or voting the Common Stock.
On November 20, 2000, the Offshore Fund entered into the Stock
Purchase Agreement, dated as of November 20, 2000 ("Offshore Fund Purchase
Agreement"), between the Issuer and the Offshore Fund (attached as Exhibit 3
hereto and incorporated herein by reference), to purchase, for a total purchase
price of $691,002, 115,167 shares of Common Stock. The Offshore Fund purchased
the shares of Common Stock, which were acquired by the Offshore Fund at the
closing on November 28, 2000, with its working capital. No part of the purchase
price was or will be represented by funds or other consideration borrowed or
otherwise obtained for the purpose of acquiring, holding, trading or voting the
Common Stock.
On November 20, 2000, RFI entered into the Stock Purchase Agreement,
dated as of November 20, 2000 ("RFI Purchase Agreement"), between the Issuer and
RFI (attached as Exhibit 4 hereto and incorporated herein by reference), to
purchase, for a total purchase price of $4,999,800, 833,300 shares of Common
Stock. RFI purchased the shares of Common Stock, which were acquired by RFI at
the closing on November 28, 2000, with its working capital. No part of the
purchase price was or will be represented by funds or other consideration
borrowed or otherwise obtained for the purpose of acquiring, holding, trading or
voting the Common Stock.
<PAGE>
Item 4. Purpose of Transaction.
a) The shares of Common Stock deemed to be beneficially owned by the Reporting
Persons were acquired for, and are being held for, investment purposes. The
Funds may dispose of or acquire securities of the Issuer, including Common
Stock, depending upon the position of the market, the Issuer and other factors.
d) The Reporting Persons retain the right to change their investment intent, to
propose one or more possible transactions to the Issuer's board, to acquire
additional shares of preferred stock or common stock from time to time or to
sell or otherwise dispose of all or part of the Common Stock beneficially owned
by them in any manner permitted by law. In the event of a material change in the
present plans or intentions of the Reporting Persons, the Reporting Persons will
amend this Schedule 13D to reflect such change.
Item 5. Interest in Securities of the Issuer.
(a) On November 28, 2000, the US Fund purchased 718,167 shares of Common Stock
(the "US Fund Common Stock"). Prior to November 28, 2000, the US Fund owned (x)
43,093 shares of Series 1-A Preferred Stock, which are convertible into
2,154,650 shares of Common Stock, subject to certain anti-dilution provisions
(the "US Fund Series 1-A Conversion Shares"), (y) 64,637 shares of Series 2
Convertible Preferred Stock (the "US Fund Series 2 Preferred Stock"), which are
convertible into 1,292,740 shares of Common Stock, subject to certain
anti-dilution provisions (the "US Fund Series 2 Conversion Shares"), and (z)
warrants to purchase up to 538,662 shares of Common Stock (the "US Fund Warrant
Shares").
On November 28, 2000, the Offshore Fund purchased 115,167 shares of
Common Stock (the "Offshore Fund Common Stock"). Prior to November 28, 2000, the
Offshore Fund owned (x) 6,907 shares of Series 1-A Preferred Stock, which are
convertible into 345,350 shares of Common Stock, subject to certain
anti-dilution provisions (the "Offshore Fund Series 1-A Conversion Shares"), (y)
10,363 shares of Series 2 Convertible Preferred Stock (the "Offshore Fund Series
2 Preferred Stock"), which are convertible into 207,260 shares of Common Stock,
subject to certain anti-dilution provisions (the "Offshore Fund Series 2
Conversion Shares"), and (z) warrants to purchase up to 86,338 shares of Common
Stock (the "Offshore Fund Warrant Shares").
On November 28, 2000, Robert Fleming Inc. purchased 833,300 shares of
Common Stock (the "RFI Common Stock").
Because of their relationship as affiliated entities, both Funds may
be deemed to beneficially own the US Fund Common Stock, US Fund Series 1-A
Conversion Shares, the US Fund Series 2 Conversion Shares, the US Fund Warrant
Shares, the Offshore Fund Common Stock, the Offshore Fund Series 1-A Conversion
Shares, the Offshore Fund Series 2 Conversion Shares and the Offshore Fund
Warrant Shares. As the general partner of both Funds, Fleming Partners may be
deemed to beneficially own the US Fund Common Stock, the US Fund Series 1-A
Conversion Shares, the US Fund Series 2 Conversion Shares, the US Fund Warrant
Shares, the Offshore Fund Common Stock, the Offshore Fund Series 1-A Conversion
Shares, the Offshore Fund Series 2 Conversion Shares and the Offshore Fund
Warrant Shares. As the general partner of Fleming Partners, Discovery may be
deemed to beneficially own the US Fund Common Stock, the US Fund Series 1-A
Conversion Shares, the US Fund Series 2 Conversion Shares, the US Fund Warrant
Shares, the Offshore Fund Common Stock, Offshore Fund Series 1-A Conversion
Shares, the Offshore Fund Series 2 Conversion Shares and the Offshore Fund
Warrant Shares. In addition to the direct ownership of the RFI Common Stock, as
investment adviser to the Funds, controlling member of Discovery and the sole
limited partner of Fleming Partners, RFI may be deemed to beneficially own the
US Fund Common Stock, US Fund Series 1-A Conversion Shares, the US Fund Series 2
Conversion Shares, the US Fund Warrant Shares, the Offshore Fund Common Stock,
the Offshore Fund Series 1-A Conversion Shares, the Offshore Fund Series 2
Conversion Shares and the Offshore Fund Warrant Shares. RFI is 100% owned by
Chase. Thus, as the parent of RFI, Chase may be deemed to beneficially own the
RFI Common Stock, the US Fund Common Stock, the US Fund Series 1-A Conversion
Shares, the US Fund Series 2 Conversion Shares, the US Fund Warrant Shares, the
Offshore Fund Series 1-A Conversion Shares, the Offshore Fund Common Stock, the
Offshore Fund Series 2 Conversion Shares and the Offshore Fund Warrant Shares.
As of November 28, 2000, each of the Funds, Fleming Partners and
Discovery may be deemed to have owned beneficially 16.7% of the outstanding
Common Stock, on an aggregated basis, which percentage is calculated based upon
(i) 28,052,317 (25,635,648 shares of Common Stock reported outstanding by the
Issuer to the Reporting Persons as of October 25, 2000 and 2,416,669 shares
issued pursuant to the Stock Purchase Agreements), (ii) the US Fund Common Stock
<PAGE>
and the Offshore Fund Common Stock (833,334), (iii) the number of shares of
Common Stock (2,500,000) issuable upon conversion of the US Fund Series 1-A
Preferred Stock and Offshore Fund Series 1-A Preferred Stock, (iv) the number of
shares of Common Stock (1,500,000) issuable upon conversion of the US Fund
Series 2 Preferred Stock and Offshore Fund Series 2 Preferred Stock and (v) the
number of shares of Common Stock (625,000) issuable upon exercise of the
Warrants.
The percentage is calculated by dividing 5,458,334 (which is the sum
of 833,334, 2,500,000, 1,500,000 and 625,000) by 32,677,317 (which is the sum of
2,500,000, 1,500,000, 625,000, 25,635,648 and 2,416,669).
As of November 28, 2000, each of RFI and Chase may be deemed to have
owned beneficially 19.25% of the outstanding Common Stock, on an aggregated
basis, which percentage is calculated based upon (i) 28,052,317 (25,635,648
shares of Common Stock reported outstanding by the Issuer to the Reporting
Persons as of October 25, 2000 and 2,416,669 shares issued pursuant to the Stock
Purchase Agreements, (ii) the US Fund Common Stock and the Offshore Fund Common
Stock (833,334), (iii) the number of shares of Common Stock (2,500,000) issuable
upon conversion of the US Fund Series 1-A Preferred Stock and Offshore Fund
Series 1-A Preferred Stock, (iv) the number of shares of Common Stock
(1,500,000) issuable upon conversion of the US Fund Series 2 Preferred Stock and
Offshore Fund Series 2 Preferred Stock, (v) the number of shares of Common Stock
(625,000) issuable upon exercise of the Warrants and (vi) the RFI Common Stock
(833,300).
The percentage is calculated by dividing 6,291,634 (which is the sum
of 833,334, 2,500,000, 1,500,000, 625,000 and 833,300) by 32,677,317 (which is
the sum of 2,500,000, 1,500,000, 625,000, 25,635,648 and 2,416,669).
(b) The information required by this paragraph is reflected on Lines 7-10 of
each Reporting Person's cover page, is incorporated herein by reference.
(c) None of the Reporting Persons has effected any transactions in the Common
Stock during the last 60 days.
Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to
the Securities of the Issuer.
The Funds and RFI acquired their respective shares of Common Stock
pursuant to the Stock Purchase Agreements dated as of November 20, 2000, and
executed by the Funds and the Issuer.
Pursuant to the Registration Rights Agreement, dated as of November
28, 2000 (the "Registration Rights Agreement") (attached as Exhibit 5 hereto and
incorporated herein by reference), the Issuer has agreed to file a shelf
registration and has granted to the Funds and their permitted transferees
certain registration rights with respect to the shares of Common Stock held by
such stockholders.
Item 7. Material to be Filed as Exhibits.
Exhibit 1 - Joint Filing Agreement.
Exhibit 2 - Stock Purchase Agreement, dated as of November 20, 2000,
between Impax Laboratories, Inc. and Fleming US
Discovery Fund III, L.P.
Exhibit 3 - Stock Purchase Agreement, dated as of November 20, 2000,
between Impax Laboratories, Inc. and Fleming US
Discovery Offshore Fund III, L.P. (identical except as
to Purchaser and incorporated by reference to
Exhibit 2 above).
Exhibit 4 - Stock Purchase Agreement, dated as of November 20, 2000,
between Impax Laboratories, Inc. and Robert Fleming Inc.
(identical except as to Purchaser and incorporated by
reference to Exhibit 2 above).
Exhibit 5 - Registration Rights Agreement, dated as of November 28,
2000, among Impax Laboratories, Inc. and certain
stockholders signatories thereto.
<PAGE>
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.* DECEMBER 20, 2000
FLEMING US DISCOVERY FUND III, L.P.
By: Fleming US Discovery Partners, L.P.,
its general partner
By: Fleming US Discovery, LLC, its
general partner
By: /s/ Robert L. Burr
------------------------------
Robert L. Burr, Member
FLEMING US DISCOVERY OFFSHORE FUND III, L.P.
By: Fleming US Discovery Partners, L.P.,
its general partner
By: Fleming US Discovery, LLC, its
general partner
By: /s/ Robert L. Burr
--------------------------
Robert L. Burr, Member
FLEMING US DISCOVERY PARTNERS, L.P.
By: Fleming US Discovery, LLC, its
general partner
By: /s/ Robert L. Burr
----------------------------------
Robert L. Burr, Member
FLEMING US DISCOVERY, LLC
By: /s/ Robert L. Burr
----------------------------------
Robert L. Burr, Member
ROBERT FLEMING INC.
By: /s/ Arthur A. Levy
----------------------------------
Arthur A. Levy, Director
THE CHASE MANHATTAN CORPORATION
By: /s/ Susan S. Spagnola
----------------------------------
Susan S. Spagnola
Assistant Corporate Secretary
<PAGE>
Exhibit 1
JOINT FILING AGREEMENT
Pursuant to and in accordance with Rule 13d-1(k)(1) under the Securities
Exchange Act of 1934, the undersigned hereby agree to jointly file the Schedule
13D/A dated December 20, 2000 and any amendments thereto with respect to the
beneficial ownership by each of the undersigned of shares of common stock of
Impax Laboratories, Inc. Such joint filings may be executed by one or more of us
on behalf of each of the undersigned.
This Agreement may be executed in any number of counterparts, each of
which shall be deemed an original.
Executed this day of December 20, 2000.
FLEMING US DISCOVERY FUND III, L.P.
By: Fleming US Discovery Partners, L.P.,
its general partner
By: Fleming US Discovery, LLC, its
general partner
By: /s/ Robert L. Burr
------------------------------
Robert L. Burr, Member
FLEMING US DISCOVERY OFFSHORE FUND III, L.P.
By: Fleming US Discovery Partners, L.P.,
its general partner
By: Fleming US Discovery, LLC, its
general partner
By: /s/ Robert L. Burr
--------------------------
Robert L. Burr, Member
FLEMING US DISCOVERY PARTNERS, L.P.
By: Fleming US Discovery, LLC, its
general partner
By: /s/ Robert L. Burr
----------------------------------
Robert L. Burr, Member
FLEMING US DISCOVERY, LLC
By: /s/ Robert L. Burr
----------------------------------
Robert L. Burr, Member
ROBERT FLEMING INC.
By: /s/ Arthur A. Levy
----------------------------------
Arthur A. Levy, Director
THE CHASE MANHATTAN CORPORATION
By: /s/ Susan S. Spagnola
----------------------------------
Susan S. Spagnola
Assistant Corporate Secretary
<PAGE>
APPENDIX 1
<TABLE>
<CAPTION>
ADDRESS, ORGANIZATION AND PRINCIPAL BUSINESS OF EACH REPORTING PERSON REQUIRED
BY ITEM 2 AND OTHER PERSONS REQUIRED BY ITEM 5
PRINCIPAL BUSINESS AND OFFICE PLACE OF
REPORTING PERSON ADDRESS ORGANIZATION PRINCIPAL BUSINESS
---------------- ------- ------------ ------------------
<S> <C> <C> <C>
FLEMING US DISCOVERY FUND III, L.P. 320 Park Avenue, 11th Floor Delaware limited partnership to invest in securities with a view
("US FUND") New York, NY 10022 to long-term capital appreciation
FLEMING US DISCOVERY OFFSHORE FUND c/o Bank of Bermuda, Ltd, 6 Bermuda limited partnership to invest in securities with a view
III, L.P. Front St to long-term capital appreciation
("OFFSHORE FUND," WITH US FUNDS THE Hamilton HM 11 Bermuda
"FUNDS")
FLEMING US DISCOVERY PARTNERS, L.P. 320 Park Avenue, Delaware limited partnership to act as the general partner of
("FLEMING PARTNERS") 11th Floor the Funds
New York, NY 10022
FLEMING US DISCOVERY, LLC 320 Park Avenue, Delaware limited liability to act as the sole general
11th Floor company partner of Fleming Partners
New York, NY 10022
ROBERT FLEMING INC. 320 Park Avenue, Delaware corporation a registered investment adviser
11th Floor and broker-dealer
New York, NY 10022
THE CHASE MANHATTAN CORPORATION 270 Park Avenue, Delaware corporation a parent holding company
New York, N.Y. 10017
OTHER
FLEMING US DISCOVERY INVESTMENT TRUST Fleming Investment Trust United Kingdom Investment an investment manager
Management Limited Trust
10 Aldermanbury
London EC2V 7RF
FLEMING US DISCOVERY Fleming Fund Management A Societe Anonyme incorporated an investment manager
FUND (Luxembourg) S.a r.l under the laws of the Grand
European Bank & Business Duchy of Luxembourg
Center 6 route de Treves
L-2633 Senningerberg
Grand-Duchy of Luxembourg
</TABLE>
<PAGE>
Appendix 2
INFORMATION ABOUT REPORTING PERSONS
REQUIRED BY ITEM 2
MANAGERS AND COMMITTEES OF FLEMING US DISCOVERY, LLC
MANAGERS
Robert Fleming Inc.
Robert L. Burr
Christopher M.V. Jones*
Eytan M. Shapiro*
Timothy R.V. Parton*
EXECUTIVE COMMITTEE
Arthur A. Levy
Iain O.S. Saunders
Jonathan K.L. Simon
Robert L. Burr
Christopher M.V. Jones
INVESTMENT COMMITTEE
Robert L. Burr
Christopher M.V. Jones
Eytan M. Shapiro
Timothy R.V. Parton
* Eytan M. Shapiro, Christopher M.V. Jones and Timothy R.V. Parton are United
Kingdom citizens. Robert L. Burr is a United States citizen. Their business
address is 320 Park Avenue, 11th Floor, New York, New York 10022. The
citizenship and business address, for each of the remaining persons listed
above is contained in "Executive Officers and Directors of Robert Fleming
Inc."
<PAGE>
EXECUTIVE OFFICERS AND DIRECTORS OF ROBERT FLEMING INC.
Name: William Robert Maas
Citizenship: United States
Business Address: The Chase Manhattan Corporation
270 Park Avenue
New York, N.Y. 10017
Title: Director
Name: Arthur A. Levy
Citizenship: United States
Business Address: Robert Fleming Inc.
320 Park Avenue
New York, NY 10022
Title: Chairman and Director
Name: Christopher M.V. Jones
Citizenship: United Kingdom
Business Address: Robert Fleming Inc.
320 Park Avenue
New York, NY 10022
Title: Director
Name: Larry A. Kimmel
Citizenship: United States
Business Address: Robert Fleming Inc.
320 Park Avenue
New York, NY 10022
Title: President and Director
Name: Jonathan K.L. Simon
Citizenship: United Kingdom
Business Address: Robert Fleming Inc.
320 Park Avenue
New York, NY 10022
Title: Director
Name: Leonard Lubrano
Citizenship: United States
Business Address: Robert Fleming Inc.
320 Park Avenue
New York, NY 10022
Title: Chief Financial Officer and
Senior Vice President
Name: Charlie Bridge
Citizenship: United Kingdom
Business Address: Robert Fleming Securities
10 Aldermanbury
London EC2V 7RF
Title: Director
Name: Eduardo Canet
Citizenship: United States
Business Address: Robert Fleming Inc.
320 Park Avenue
New York, NY 10022
Title: Director
* With the exception of William Maas and Charlie Bridge, the business address
for each of the above persons is 320 Park Avenue, New York, N.Y. 10022.
<PAGE>
THE CHASE MANHATTAN CORPORATION
EXECUTIVE OFFICERS
William B. Harrison Jr., Chairman and Chief Executive Officer*
Geoffrey T. Boisi, Vice Chairman*
David A. Coulter, Vice Chairman*
Donald H. Layton, Vice Chairman*
James B. Lee Jr., Vice Chairman*
Denis J. O'Leary, Executive Vice President*
Marc J. Shapiro, Vice Chairman*
Jeffrey C. Walker, Senior Managing Director*
* Principal occupation is employee and/or officer of Chase. Business address is
c/o The Chase Manhattan Corporation, 270 Park Avenue, New York, New York
10017.
** Each of the persons named below is a citizen of the United States of America.
<TABLE>
<CAPTION>
DIRECTORS**
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<S> <C>
Hans W. Becherer Chairman of the Board
Chief Executive Officer
Deere & Company
One John Deere Place
Moline, IL 61265
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Frank A. Bennack, Jr. President and Chief Executive Officer
The Hearst Corporation
959 Eighth Avenue
New York, N.Y. 10019
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Susan V. Berresford President
The Ford Foundation
320 E. 43rd Street
New York, N.Y. 10017
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M. Anthony Burns Chairman of the Board and Chief Executive Officer
Ryder System, Inc.
3600 N.W. 82nd Avenue
Miami, FL 33196
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H. Laurence Fuller The Primacy Business Center
1111 East Warrenville Road, Suite 257
Naperville, IL 60563
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Melvin R. Goodes Retired Chairman of the Board and CEO
Warner-Lambert Company
201 Tabor Road
Morris Plains, N.J. 07950
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<PAGE>
William H. Gray, III President and Chief Executive Officer
The College Fund/UNCF
9860 Willow Oaks Corporate Drive
P.O. Box 10444
Fairfax, Virginia 22031
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William B. Harrison Jr. Chairman and Chief Executive Officer
The Chase Manhattan Corporation
270 Park Avenue, 8th Floor
New York, N.Y. 10017-2070
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Harold S. Hook Retired Chairman and Chief Executive Officer
American General Corporation
2929 Allen Parkway
Houston, TX 77019
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Helene L. Kaplan Of Counsel
Skadden, Arps, Slate, Meagher & Flom LLP
919 Third Avenue - Room 29-72
New York, N.Y. 10022
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Henry B. Schacht Director and Senior Advisor
E.M. Warburg, Pincus & Co., LLC
466 Lexington Avenue, 10th Floor
New York, N.Y. 10017
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Andrew C. Sigler Retired Chairman of the Board and Chief Executive Officer
Champion International Corporation
One Champion Plaza
Stamford, CT 06921
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John R. Stafford Chairman, President and Chief Executive Officer
American Home Products Corporation
Five Giralda Farms
Madison, N.J. 07940
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Marina v. N. Whitman Professor of Business Administration and Public Policy
The University of Michigan
School of Public Policy
411 Lorch Hall, 611 Tappan Street
Ann Arbor, MI 48109-1220
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</TABLE>
