<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
______________________
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. )
INTERCARDIA, INC.
-----------------------------
(Name of Issuer)
Common Stock, par value $.001 per share
---------------------------------------
(Title of Class of Securities)
------------------------------
45844M106
--------------------
(CUSIP Number)
Andrew S. Paul, Esq.
c/o Tudor Investment Corporation
One Liberty Plaza (51st Floor)
New York, New York 10006
(212) 602-6700
----------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
June 23, 1997
----------------------------------------------------
(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 [ ].
Page 1
<PAGE>
- --------------------
CUSIP NO. 45844M106
- --------------------
- -----------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Tudor Investment Corporation
TIN: 22-2514825
- -----------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X ]
- -----------------------------------------------------------------
3. SEC USE ONLY
- -----------------------------------------------------------------
4. SOURCE OF FUNDS
OO
- -----------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
[X ]
- -----------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
- -----------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES -----------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 336,800
EACH -----------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 0
WITH -----------------------------------
10 SHARED DISPOSITIVE POWER
336,800
- -----------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
336,800
- -----------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
[ ]
- -----------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.0%
- -----------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
- -----------------------------------------------------------------
Page 2
<PAGE>
- --------------------
CUSIP NO. 45844M106
- --------------------
- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Paul Tudor Jones, II
TIN:
- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X ]
- ---------------------------------------------------------------------
3. SEC USE ONLY
- ---------------------------------------------------------------------
4. SOURCE OF FUNDS
OO
- ---------------------------------------------------------------------
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 of America
- ---------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES -----------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 359,400
EACH -----------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 0
WITH -----------------------------------
10 SHARED DISPOSITIVE POWER
359,400
- ---------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
359,400
- ---------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
[ ]
- ---------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.3%
- ---------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
IN
- ---------------------------------------------------------------------
Page 3
<PAGE>
- --------------------
CUSIP NO. 45844M106
- --------------------
- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
The Raptor Global Fund Ltd.
TIN: n/a
- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X ]
- ---------------------------------------------------------------------
3. SEC USE ONLY
- ---------------------------------------------------------------------
4. SOURCE OF FUNDS
OO
- ---------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
[ ]
- ---------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
- ---------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES -----------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 132,900
EACH -----------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 0
WITH -----------------------------------
10 SHARED DISPOSITIVE POWER
132,900
- ---------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
132,900
- ---------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
[ ]
- ---------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.0%
- ---------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
- ---------------------------------------------------------------------
Page 4
<PAGE>
- --------------------
CUSIP NO. 45844M106
- --------------------
- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
The Raptor Global Fund L.P.
TIN: 13-3735415
- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X ]
- ---------------------------------------------------------------------
3. SEC USE ONLY
- ---------------------------------------------------------------------
4. SOURCE OF FUNDS
OO
- ---------------------------------------------------------------------
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 0
SHARES -----------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 53,600
EACH -----------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 0
WITH -----------------------------------
10 SHARED DISPOSITIVE POWER
53,600
- ---------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
53,600
- ---------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
[ ]
- ---------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.8%
- ---------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
- ---------------------------------------------------------------------
Page 5
<PAGE>
- --------------------
CUSIP NO. 45844M106
- --------------------
- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Tudor Arbitrage Partners L.P.
TIN: 13-3496979
- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X ]
- ---------------------------------------------------------------------
3. SEC USE ONLY
- ---------------------------------------------------------------------
4. SOURCE OF FUNDS
OO
- ---------------------------------------------------------------------
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 0
SHARES -----------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 22,600
EACH -----------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 0
WITH -----------------------------------
10 SHARED DISPOSITIVE POWER
22,600
- ---------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
22,600
- ---------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
[ ]
- ---------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.3%
- ---------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
PN
- ---------------------------------------------------------------------
Page 6
<PAGE>
- --------------------
CUSIP NO. 45844M106
- --------------------
- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Tudor Global Trading LLC
TIN: 13-3862744
- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X ]
- ---------------------------------------------------------------------
3. SEC USE ONLY
- ---------------------------------------------------------------------
4. SOURCE OF FUNDS
OO
- ---------------------------------------------------------------------
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 0
SHARES -----------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 22,600
EACH -----------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 0
WITH -----------------------------------
10 SHARED DISPOSITIVE POWER
22,600
- ---------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
22,600
- ---------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
[ ]
- ---------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.3%
- ---------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
- ---------------------------------------------------------------------
Page 7
<PAGE>
- --------------------
CUSIP NO. 45844M106
- --------------------
- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Tudor BVI Futures, Ltd.
TIN: n/a
- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X ]
- ---------------------------------------------------------------------
3. SEC USE ONLY
- ---------------------------------------------------------------------
4. SOURCE OF FUNDS
OO
- ---------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
[ ]
- ---------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
British Virgin Islands
- ---------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES -----------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 128,400
EACH -----------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 0
WITH -----------------------------------
10 SHARED DISPOSITIVE POWER
128,400
- ---------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
128,400
- ---------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
[ ]
- ---------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.9%
- ---------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
- ---------------------------------------------------------------------
Page 8
<PAGE>
- --------------------
CUSIP NO. 45844M106
- --------------------
- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
The Upper Mill Capital Appreciation Fund Ltd.
TIN: n/a
- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X ]
- ---------------------------------------------------------------------
3. SEC USE ONLY
- ---------------------------------------------------------------------
4. SOURCE OF FUNDS
OO
- ---------------------------------------------------------------------
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e)
[ ]
- ---------------------------------------------------------------------
6. CITIZENSHIP OR PLACE OF ORGANIZATION
Cayman Islands
- ---------------------------------------------------------------------
7 SOLE VOTING POWER
NUMBER OF 0
SHARES -----------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 21,900
EACH -----------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 0
WITH -----------------------------------
10 SHARED DISPOSITIVE POWER
21,900
- ---------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
21,900
- ---------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
[ ]
- ---------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.3%
- ---------------------------------------------------------------------
14 TYPE OF REPORTING PERSON
CO
- ---------------------------------------------------------------------
Page 9
<PAGE>
- --------------------
CUSIP NO. 45844M106
- --------------------
- -----------------------------------------------------------------
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Tudor Proprietary Trading, L.L.C.
TIN: 13-3720063
- -----------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X ]
- -----------------------------------------------------------------
3. SEC USE ONLY
- -----------------------------------------------------------------
4. SOURCE OF FUNDS
OO
- -----------------------------------------------------------------
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 0
SHARES ------------------------------------------
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 0
EACH ------------------------------------------
REPORTING 9 SOLE DISPOSITIVE POWER
PERSON 0
WITH ------------------------------------------
10 SHARED DISPOSITIVE POWER
0
- -----------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
0
- -----------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES
[ ]
- -----------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.0%
- -----------------------------------------------------------------
14 TYPE OF REPORTING PERSON
OO
- -----------------------------------------------------------------
Page 10
<PAGE>
Item 1. Security and Issuer
-------------------
This Schedule 13D, dated July 2, 1997, relates to the common stock,
par value $.001 per share ("Common Stock"), of INTERCARDIA, INC., a Delaware
corporation (the "Company"), filed by Tudor Investment Corporation, a Delaware
corporation ("TIC"), Paul Tudor Jones, II, a natural person and a citizen of the
United States ("Mr. Jones"), The Raptor Global Fund Ltd., a company organized
under the laws of the Cayman Islands ("Raptor Ltd."), The Raptor Global Fund
L.P., a Delaware limited partnership ("Raptor L.P."), Tudor Arbitrage Partners
L.P., a Delaware limited partnership ("TAP"), Tudor Global Trading LLC, a
Delaware limited liability company ("TGT"), Tudor BVI Futures, Ltd., a
corporation organized under the laws of the British Virgin Islands
("Tudor BVI"), Tudor Proprietary Trading, L.L.C. ("TPT"), and The Upper Mill
Capital Appreciation Fund Ltd., a company organized under the laws of the Cayman
Islands ("Upper Mill", and collectively with TIC, Mr. Jones, Raptor Ltd., Raptor
L.P., TAP, TGT, TPT and Tudor BVI, the "Reporting Persons").* The summaries of
information on schedules attached hereto are qualified in their entirety by
reference to such schedules, which are incorporated by reference herein.
The Company's principal executive offices are located at P.O. Box
14287, 3200 Chapel Hill Nelson Highway, Cape Fear Building, Suite 101, Research
Triangle Park, NC 27709.
Item 2. Identity and Background.
-----------------------
The Reporting Persons are TIC, Mr. Jones, Raptor Ltd., Raptor L.P.,
TAP, TGT, Tudor BVI and Upper Mill. The business address of each of TIC, Mr.
Jones, Raptor L.P., TAP and TGT is c/o Tudor Investment Corporation, 600
Steamboat Road, Greenwich, Connecticut 06830. The business address of each of
Raptor Ltd., Tudor BVI and Upper Mill is c/o Curacao International Trust Company
N.V., Kaya Flamboyan 9, Curacao, Netherlands Antilles. The business address of
TPT is The Upper Mill, Kingston Road, Ewell, Surrey KT17 2AF, England.
TIC is an international money management firm that provides investment
advice to Raptor Ltd., Raptor L.P., Tudor BVI and Upper Mill, among others.
Mr. Jones' principal employment is as Chairman and Chief Executive
Officer of TIC of which he owns a majority of the capital stock and voting
securities.
- ----------
* For purposes of this Statement on Schedule 13D the Reporting Persons have
filed as a "group". Nevertheless, the Reporting Persons hereby disclaim that
they are members of a "group" for purposes of Section 13(d) of the Securities
Exchange Act of 1934 or for any other purpose.
Page 11
<PAGE>
Each of Raptor Ltd., Raptor L.P., TAP, Tudor BVI, TPT and Upper Mill
is an investment fund which principally invests in debt, equity, derivative
securities and other financial instruments for the benefit of the holders of its
partnership, stock and other capital securities.
TGT is the sole general partner of TAP.
The name, residence or business address, present principal occupation
or employment, the name, principal business and address of any corporation or
other organization in which such employment is conducted and the citizenship of
each natural person that is a director or executive officer of TIC, TGT, Raptor
Ltd., Tudor BVI, TPT or Upper Mill is set forth on Schedule I hereto and is
incorporated by reference herein. TIC is the sole general partner of Raptor
L.P. TGT is the sole limited partner of TAP.
During the last five years, none of the Reporting Persons, or to the
best knowledge and belief of the Reporting Persons, any of the individuals
listed on Schedule I hereto, has been convicted in a criminal proceeding
(excluding traffic violations or similar misdemeanors) or has been a party to a
civil proceeding of a judicial or administrative body of competent jurisdiction
as a result of which any Reporting Person or any person listed on Schedule I was
or is subject to a judgment, decree or final order enjoining future violations
of, or prohibiting activities subject to, federal or state securities laws or
finding any violation of such law, except as follows:
On September 12, 1996, TIC settled a proceeding with the Securities
and Exchange Commission (the "SEC") relating to alleged violations of the
"uptick rule" in connection with certain sales of stock over a two day period in
March 1994. Without admitting or denying the SEC's findings, TIC paid a civil
penalty of $800,000, and agreed not to violate the uptick rule in the future.
Item 3. Source and Amount of Funds or Other Consideration.
-------------------------------------------------
The shares of Common Stock beneficially owned by each of Raptor Ltd.,
Raptor L.P., TAP, Tudor BVI, TPT and Upper Mill were acquired in open market
purchases for cash. The sources of the funds used to purchase the shares of
Common Stock by each of the Reporting Persons were (i) capital contributions to
such Reporting Person,(ii) the proceeds of transactions with respect to prior
investments held by such Reporting Persons and (iii) cash borrowed pursuant to
margin loans with Morgan Stanley & Co. Incorporated, which margin loans are
secured by all of the shares of Common Stock.
Page 12
<PAGE>
Item 4. Purpose of Transaction.
----------------------
Each of Raptor Ltd., Raptor L.P., TAP, Tudor BVI, TPT and Upper Mill
initially acquired the Common Stock beneficially owned by such Reporting Person
for investment purposes. Each of such Reporting Persons intends to continue to
evaluate their respective investments in Common Stock based on the Company's
financial condition, results of operations and prospects as well as other then
existing or anticipated facts and circumstances including general economic,
market and other financial conditions. Accordingly, each of the Reporting
Persons reserves the right to change its plans and intentions with respect to
its investment in securities of the Company at any time, as it deems
appropriate. In particular, each of the Reporting Persons may at any time and
from time to time (i) acquire additional shares of Common Stock, (ii) dispose of
Common Stock, or (iii) enter into privately negotiated derivative transactions
with institutional counterparties to hedge the market risk of some or all of its
positions in the Common Stock. There can be no assurance that any Reporting
Person will increase or decrease its investment in the Company or as to the
number of shares of Common Stock or derivative securities that may be bought or
sold in any such transactions.
Except as set forth in this Schedule 13D, none of the Reporting
Persons currently has any plans or proposals which relate to or would result in
any of the transactions, actions or events enumerated in paragraphs (a) through
(j) of the instructions to Item 4 of Schedule 13D.
Item 5. Interest in Securities of the Issuer.
------------------------------------
Attached hereto as Schedule II is a list of the transactions by each
of the Reporting Persons in Common Stock within the past sixty days.
Because TIC is the sole general partner of Raptor L.P. and provides
investment advisory services to Raptor Ltd., Raptor L.P., Tudor BVI and Upper
Mill, TIC may be deemed to beneficially own the shares of Common Stock owned by
each of such Reporting Persons. TGT, as the sole general partner of TAP, may be
deemed to beneficially own the shares of Common Stock owned by TAP. In
addition, because Mr. Jones owns a majority of the capital stock and voting
securities of TIC and indirectly owns a majority of the equity interests in
TGT and TPT, Mr. Jones may be deemed to beneficially own the shares of Common
Stock deemed beneficially owned by TIC, TPT and TGT.
Based on the information contained in the Company's Form 10-Q for the
quarter ended March 31, 1997 that there were 6,757,651 shares of Common Stock
issued and outstanding as of May 9, 1997, each Reporting Person beneficially
owns (or, with respect to TIC,
Page 13
<PAGE>
Mr. Jones and TGT, may be deemed to beneficially own) the number and percentage
of outstanding shares of Common Stock listed in the responses to Items 11 and
13, respectively, of the cover page filed herewith for such Reporting Person. In
addition, the number of shares of Common Stock beneficially owned (or, with
respect to TIC, Mr. Jones and TGT, which may be deemed beneficially owned) by
each Reporting Person with respect to which such Reporting Person (i) has sole
voting power, (ii) shares voting power, (iii) has sole dispositive power and
(iv) shares dispositive power are listed in the responses to Items 7, 8, 9 and
10, respectively, of the cover page filed herewith for such Reporting Person.
The voting and dispositive power is reported as shared because each of the
Reporting Persons (other than TIC, TAP, TGT, TPT and Mr. Jones) has the power to
remove TIC as its investment advisor or general partner. Each of the Reporting
Persons (other than TIC and Mr. Jones) expressly disclaim beneficial ownership
of the shares of Common Stock beneficially owned by any other Reporting Person
and each of TIC, Mr. Jones and TGT disclaim beneficial ownership of the Common
Stock beneficially owned by Raptor Ltd., Raptor L.P., TAP, Tudor BVI, Upper
Mill, TPT and, in the case of TIC and Mr. Jones, TGT.
Item 6. Contracts, Arrangements, Understandings
or Relationships with Respect to Securities
of the Issuer
-------------------------------------------
None.
Item 7. Material to Be Filed as Exhibits
--------------------------------
(1) Joint Filing Agreement
Page 14
<PAGE>
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this Schedule 13D is true, complete
and correct.
Dated: July 2, 1997
TUDOR INVESTMENT CORPORATION
By: \s\ Andrew S. Paul
---------------------------
Name: Andrew S. Paul
Title: Vice President &
General Counsel
\s\ Paul Tudor Jones, II
-------------------------------
Paul Tudor Jones, II
THE RAPTOR GLOBAL FUND LTD.
By: TUDOR INVESTMENT CORPORATION,
Trading Advisor
By: \s\ Andrew S. Paul
-----------------------
Name: Andrew S. Paul
Title: Vice President &
General Counsel
THE RAPTOR GLOBAL FUND L.P.
By: TUDOR INVESTMENT CORPORATION,
General Partner
By: \s\ Andrew S. Paul
-----------------------
Name: Andrew S. Paul
Title: Vice President &
General Counsel
Page 15
<PAGE>
TUDOR ARBITRAGE PARTNERS L.P.
By: TUDOR GLOBAL TRADING LLC,
General Partner
By: \s\ Andrew S. Paul
-----------------------
Name: Andrew S. Paul
Title: Vice President &
General Counsel
TUDOR GLOBAL TRADING LLC
By: \s\ Andrew S. Paul
---------------------------
Name: Andrew S. Paul
Title: Vice President &
General Counsel
TUDOR BVI FUTURES, LTD.
By: TUDOR INVESTMENT CORPORATION,
Trading Advisor
By: \s\ Andrew S. Paul
-----------------------
Name: Andrew S. Paul
Title: Vice President &
General Counsel
THE UPPER MILL CAPITAL
APPRECIATION FUND LTD.
By: TUDOR INVESTMENT CORPORATION,
Sub-Investment Manager
By: \s\ Andrew S. Paul
-----------------------
Name: Andrew S. Paul
Title: Vice President &
General Counsel
Page 16
<PAGE>
TUDOR PROPRIETARY TRADING, L.L.C.
By: /s/ Andrew S. Paul
------------------------
Name: Andrew S. Paul
Title: Vice President &
General Counsel
Page 17
<PAGE>
Schedule I
EXECUTIVE OFFICERS AND DIRECTORS
OF THE REPORTING PERSONS
I. TIC
The name, residence or business address, present principal occupation
or employment, the name, principal business and address of any corporation or
other organization in which such employment is conducted and the citizenship of
each executive officer or director of TIC is set forth below. Unless otherwise
indicated (i) the principal occupation or employment of such person is as an
executive officer or director of TIC, (ii) the business address of such person
is c/o TIC at the address of TIC set forth under Item 2 of this Schedule 13D,
(iii) such person is a citizen of the United States and (iv) to the knowledge of
the Reporting Persons, such person does not beneficially own and has not had any
transactions in the Common Stock.
Principal Occupation/
Name Business Address
- ---- -----------------------------
Paul Tudor Jones, II* Chairman of the Board of Directors, Chief Executive
Officer of TIC.
Mark F. Dalton Director, President and Chief Operating Officer of TIC.
James J. Pallotta Director and Vice President of TIC.
Mark A. Heffernan Director of TIC. Mr. Heffernan trades in
Citizen of United securities and other financial instruments
Kingdom for TPT and certain investment funds advised
by Tudor Capital (U.K.), L.P.,
both of which are located at The Upper Mill, Kingston
Road, Ewell, Surrey KT17 2AF, England.
Andrew S. Paul Director, Vice President, General Counsel and Corporate
Secretary of TIC.
Richard L. Fisher Director of TIC. Mr. Fisher is Vice President of
Investments and Acquisitions and a Managing Director of
Dunavant Enterprises, Inc., 3797 Getwell Road, Memphis,
TN 38118.
Mark Pickard Vice President and Chief Financial Officer of TIC.
- ----------
* See Item 5 of this Schedule 13D for a discussion of Mr. Jones' potential
beneficial ownership of Common Stock.
Page 18
<PAGE>
II. RAPTOR LTD.
The name, residence or business address, present principal occupation
or employment, the name, principal business and address of any corporation or
other organization in which such employment is conducted and the citizenship of
each executive officer or director of Raptor Ltd. is set forth below. Unless
otherwise indicated (i) the principal occupation or employment of such person is
as set forth below, (ii) the business address of such person is c/o Inter
Caribbean Services Ltd., (iii) such person is a citizen of the country set forth
below and (iv) to the knowledge of the Reporting Persons, such person does not
beneficially own and has not had any transactions in the Common Stock.
Principal Occupation/
Name Business Address
- ---- -------------------------------
Inter Caribbean Services Ltd. Director of Raptor Ltd. The principal place of
Incorporated in British business of Inter Caribbean Services Ltd. is
Virgin Islands c/o Curacao International Trust Company N.V.
("CITCO"), Kaya Flamboyan 9, Netherlands
Antilles.
Bernard A. Loze Director of Raptor Ltd. Chairman and Chief
Citizen of France Executive Officer of Loze et Associe, 43, Avenue
Marceau, Paris 75116, France, which is a
consulting firm that provides financial and
investment advice to international clients.
Arpad A. Busson Director of Raptor Ltd. Chairman of European
Citizen of France Investment Managers, c/o Harney, Westwood &
Riegels, P.O. Box 71, Road Town, Tortola, British
Virgin Islands, which is a consulting and money
management firm.
Jean-Pierre Jacquemoud Director of Raptor Ltd. Attorney, Jacquemoud &
Citizen of Switzerland Stanislas, 2, rue Bellow, Geneva 1206,
Switzerland.
Page 19
<PAGE>
III. TUDOR GLOBAL TRADING LLC
The name and present principal occupation or employment of each
executive officer of TGT is set forth below. Each of such persons holds
identical titles for TIC and TGT. The business address of such person is c/o
TIC at the address of TIC set forth under Item 2 of this Schedule 13D, each such
person is a citizen of the United States and to the knowledge of the Reporting
Persons, such person does not beneficially own and has not had any transactions
in the Common Stock.
Name Principal Occupation
- ---- ---------------------------------------
Paul Tudor Jones, II* Chairman of the Board of Directors, Chief Executive
Officer of TIC.
Mark F. Dalton Director, President and Chief Operating Officer of
TIC.
James J. Pallotta Director and Vice President of TIC.
Andrew S. Paul Director, Vice President, General Counsel and
Corporate Secretary of TIC.
Mark Pickard Vice President and Chief Financial Officer of TIC.
- ---------
* See Item 5 of this Schedule 13D for a discussion of Mr. Jones' potential
beneficial ownership of Common Stock.
Page 20
<PAGE>
IV. TUDOR BVI
The name, residence or business address, present principal occupation
or employment, the name, principal business and address of any corporation or
other organization in which such employment is conducted and the citizenship of
each executive officer or director of Tudor BVI is set forth below. To the
knowledge of the Reporting Persons, the below listed persons neither currently
beneficially own nor have had any transactions in the Common Stock.
Principal Occupation/
Name Business Address
- ---- -------------------------------
Inter Caribbean Services Ltd. Director of Tudor BVI. See information under
Raptor Ltd.
David P. d'Abrumenil Director of Tudor BVI.
Citizen of United Kingdom Chairman, Lionspring Enterprises Limited, 36 John
Street, London WC1N 2AT, England, which is a
financial consulting firm.
Jean-Pierre Jacquemoud Director of Tudor BVI. See information under
Raptor Ltd.
Bernard A. Loze Director of Tudor BVI. See information under
Raptor Ltd.
Arpad A. Busson Director of Tudor BVI. See information under
Raptor Ltd.
Karl-Erbo G. Kageneck Director of Tudor BVI. Attorney, King & Spalding,
120 West 45th Street, New York, New York 10036.
Page 21
<PAGE>
V. THE UPPER MILL CAPITAL APPRECIATION FUND LTD.
The name, residence or business address, present principal occupation
or employment, the name, principal business and address of any corporation or
other organization in which such employment is conducted and the citizenship of
each executive officer or director of Upper Mill is set forth below. To the
knowledge of the Reporting Persons, the below listed persons neither currently
beneficially own nor have had any transactions in the Common Stock.
Principal Occupation/
Name Business Address
- ---- -------------------------------
Inter Caribbean Services Ltd. Director of Upper Mill. See information under
Raptor Ltd.
Jean-Pierre Jacquemoud Director of Upper Mill. See information under
Raptor Ltd.
Arpad A. Busson Director of Upper Mill. See information under
Raptor Ltd.
Karl-Erbo G. Kageneck Director of Upper Mill. See information under
Tudor BVI.
Anthony J. Stocks Director of Upper Mill. Managing Director,
Curacao International Trust Company N.V., Kaya
Flamboyan 9, Curacao, Netherlands Antilles, which
provides administrative and other services to
investment funds.
Page 22
<PAGE>
VI. TUDOR PROPRIETARY TRADING, L.L.C.
The name and present principal occupation or employment of each
executive manager of TPT is set forth below. Each of such persons is a director
or officer of TIC. The business address of each such person is c/o TIC at the
address set forth under Item 2 of this Schedule 13D, with the exception of Mr.
Heffernan whose business address is c/o TPT at the address set forth under Item
2 of this Schedule 13D. Each such person is a citizen of the United States, with
the exception of Mr. Heffernan who is a citizen of the United Kingdom. To the
knowledge of the Reporting Persons, such person does not beneficially own and
has not had any transactions in the Common Stock.
Name Principal Occupation
- ---- --------------------
Paul Tudor Jones, II* Chairman of the Board of Directors, Chief Executive
Officer of TIC.
Mark F. Dalton Director, President and Chief Operating Officer of
TIC.
James J. Pallotta Director and Vice President of TIC.
Andrew S. Paul Director, Vice President, General Counsel and
Corporate Secretary of TIC.
Mark A. Heffernan Director of TIC and Vice President of TPT.
Mark Pickard Vice President and Chief Financial Officer of TIC.
- ----------------------
* See Item 5 of this Schedule 13D for a discussion of Mr. Jones' potential
beneficial ownership of Common Stock.
23
<PAGE>
Schedule II
TRANSACTIONS
All shares of Common Stock were purchased or sold in open market
transactions for cash.
<TABLE>
<CAPTION>
Tudor BVI
- -------------
<S> <C> <C> <C>
Date Transaction # Shares $/Share
- ------------- --------------- ------------ -----------
5/5/97 Purchase 3,600 $18.625
5/6/97 Purchase 1,800 $18.125
5/6/97 Purchase 8,400 $18.5612
5/20/97 Purchase 1,800 $20.0278
5/22/97 Purchase 900 $20.2212
6/11/97 Purchase 100 $19.500
6/20/97 Purchase 2,200 $20.750
6/23/97 Purchase 2,000 $20.8683
6/30/97 Purchase 800 $20.5114
6/30/97 Purchase 5,400 $22.7917
7/1/97 Sale 4,000 $22.500
Total Common Stock beneficially owned as of the date this Schedule 13D: 128,400
Raptor L.P.
- -------------
Date Transaction # Shares $/Share
- ------------- --------------- ------------ -----------
5/5/97 Purchase 1,500 $18.625
5/6/97 Purchase 800 $18.125
5/6/97 Purchase 3,500 $18.5612
5/20/97 Purchase 700 $20.0278
5/22/97 Purchase 400 $20.2212
6/20/97 Purchase 900 $20.750
6/23/97 Purchase 800 $20.8683
6/30/97 Purchase 300 $20.5114
6/30/97 Purchase 2,200 $22.7917
Total Common Stock beneficially owned as of the date of this Schedule 13D:
53,600
TAP
- ---
Date Transaction # Shares $/Share
- ------------- --------------- ------------ -----------
5/5/97 Purchase 600 $18.625
5/6/97 Purchase 300 $18.125
5/6/97 Purchase 1,500 $18.5612
5/20/97 Purchase 200 $20.0278
5/22/97 Purchase 200 $20.2212
6/20/97 Purchase 400 $20.750
6/23/97 Purchase 300 $20.8683
6/30/97 Purchase 200 $20.5114
6/30/97 Purchase 900 $22.7917
</TABLE>
Total Common Stock beneficially owned as of the date of this Schedule 13D:
22,600
Page 24
<PAGE>
<TABLE>
<CAPTION>
Raptor Ltd.
- -----------------------------
<S> <C> <C> <C>
Date Transaction # Shares $/Share
- ------------ --------------- ------------ -----------
5/5/97 Purchase 3,700 $18.625
5/6/97 Purchase 1,800 $18.125
5/6/97 Purchase 8,700 $18.5612
5/20/97 Purchase 1,800 $20.0278
5/22/97 Purchase 900 $20.2212
6/20/97 Purchase 2,400 $20.750
6/23/97 Purchase 2,100 $20.8683
6/30/97 Purchase 800 $20.5114
6/30/97 Purchase 5,600 $22.7917
Total Common Stock beneficially owned as of the date of this Schedule 13D:
132,900
Upper Mill
- ------------
Date Transaction # Shares $/Share
- ------------ --------------- ------------ -----------
5/2/97 Purchase 7,000 $19.250
5/5/97 Purchase 600 $18.625
5/6/97 Purchase 300 $18.125
5/6/97 Purchase 1,400 $18.5612
5/22/97 Purchase 200 $20.2212
6/20/97 Purchase 400 $20.750
6/23/97 Purchase 400 $20.8683
6/30/97 Purchase 100 $20.5114
6/30/97 Purchase 900 $22.7917
Total Common Stock beneficially owned as of the date of this Schedule 13D:
21,900
Tudor Proprietary Trading, L.L.C.
- ----------------------------------
Date Transaction # Shares $/Share
- ------------ --------------- ------------ -----------
7/1/97 Sale 4,000 $22.500
</TABLE>
Total Common Stock beneficially owned as of the date of this Schedule 13D:
0
Page 25
<PAGE>
EXHIBIT INDEX
- -------------
Exhibit No. Description
- ----------- ----------------------
(1) Joint Filing Statement
Page 26
<PAGE>
EXHIBIT 1
JOINT FILING AGREEMENT
Pursuant to Rule 13d-1(f) of the Securities Exchange Act of 1934, as
amended, the undersigned hereby agree to the joint filing of the Schedule 13D
and any amendments thereto, relating to the Common Stock, par value $.001 per
share, of INTERCARDIA, INC. and the inclusion of this Joint Filing Agreement as
an Exhibit to such Joint Filings. Each party to this Joint Filing Agreement
expressly authorizes each other party to file on its behalf any and all
amendments to such Statement. This Agreement may be executed in any number of
counterparts, each of which shall be deemed an original, and all of which shall
constitute one and the same instrument.
Dated: July 2, 1997
TUDOR INVESTMENT CORPORATION
By: \s\ Andrew S. Paul
---------------------------
Name: Andrew S. Paul
Title: Vice President &
General Counsel
\s\ Paul Tudor Jones, II
-----------------------------
Paul Tudor Jones, II
THE RAPTOR GLOBAL FUND LTD.
By: TUDOR INVESTMENT CORPORATION,
Trading Advisor
By: \s\ Andrew S. Paul
-----------------------
Name: Andrew S. Paul
Title: Vice President &
General Counsel
Page 27
<PAGE>
THE RAPTOR GLOBAL FUND L.P.
By: TUDOR INVESTMENT CORPORATION,
General Partner
By: \s\ Andrew S. Paul
-----------------------
Name: Andrew S. Paul
Title: Vice President &
General Counsel
TUDOR ARBITRAGE PARTNERS L.P.
By: TUDOR GLOBAL TRADING LLC,
General Partner
By: \s\ Andrew S. Paul
-----------------------
Name: Andrew S. Paul
Title: Vice President &
General Counsel
TUDOR GLOBAL TRADING LLC
By: \s\ Andrew S. Paul
---------------------------
Name: Andrew S. Paul
Title: Vice President &
General Counsel
TUDOR BVI FUTURES, LTD.
By: TUDOR INVESTMENT CORPORATION,
Trading Advisor
By: \s\ Andrew S. Paul
-----------------------
Name: Andrew S. Paul
Title: Vice President &
General Counsel
Page 28
<PAGE>
THE UPPER MILL CAPITAL
APPRECIATION FUND LTD.
By: TUDOR INVESTMENT CORPORATION,
Sub-Investment Manager
By: \s\ Andrew S. Paul
-----------------------
Name: Andrew S. Paul
Title: Vice President &
General Counsel
TUDOR PROPRIETARY TRADING, L.L.C.
By: \s\ Andrew S. Paul
---------------------------
Name: Andrew S. Paul
Title: Vice President &
General Counsel
Page 29
