UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
( ) Check this box if no longer subject to Section 16.
Form 4 or Form 5 obligations may continue. See Instructions 1(b).
1. Name and Address of Reporting Person
Rosenwald, Lindsay A.
787 Seventh Avenue
48th Floor
New York, NY 10019
2. Issuer Name and Ticker or Trading Symbol
CONVERSION TECHNOLOGIES INTERNATIONAL INC
CTIX
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Statement for Month/Year
04/09/98
5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
( ) Director (X) 10% Owner ( ) Officer (give title below) ( ) Other
(specify below)
7. Individual or Joint/Group Filing (Check Applicable Line)
(X) Form filed by One Reporting Person
( ) Form filed by More than One Reporting Person
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Table I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned |
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1. Title of Security |2. |3. |4.Securities Acquired (A) |5.Amount of |6.Dir |7.Nature of Indirect |
| Transaction | or Disposed of (D) | Securities |ect | Beneficial Ownership |
| | | | Beneficially |(D)or | |
| | | | | A/| | Owned at |Indir | |
| Date |Code|V| Amount | D | Price | End of Month |ect(I)| |
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<S> <C> <C> <C><C> <C> <C> <C> <C> <C>
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Table II -- Derivative Securitites Acquired, Disposed of, or Beneficially Owned |
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1.Title of Derivative |2.Con- |3. |4. |5.Number of De |6.Date Exer|7.Title and Amount |8.Price|9.Number |10.|11.Nature of|
Security |version |Transaction | rivative Secu |cisable and| of Underlying |of Deri|of Deriva |Dir|Indirect |
|or Exer | | | rities Acqui |Expiration | Securities |vative |tive |ect|Beneficial |
|cise | | | red(A) or Dis |Date(Month/| |Secu |Securities |(D)|Ownership |
|Price of| | | posed of(D) |Day/Year) | |rity |Benefi |or | |
|Deriva- | | | |Date |Expir| | |ficially |Ind| |
|tive | | | | A/|Exer-|ation| Title and Number | |Owned at |ire| |
|Secu- | | | | | D |cisa-|Date | of Shares | |End of |ct | |
|rity |Date |Code|V| Amount | |ble | | | |Month |(I)| |
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<S> <C> <C> <C> <C><C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Warrants to purchase |$11.00 |12/8/|J(1)| |1 |A |6/8/ |6/8/ |Series A |16,041 |(1) |1(3) |D | |
Series A Preferred | |97 | | | | |98 |08 |Preferred | | | | | |
Stock, par value | | | | | | | | |Stock(2) | | | | | |
$0.001 per share | | | | | | | | | | | | | | |
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Explanation of Responses:
(1) See Attachment B
(2) See Attachment C
(3) See Attachment D
SIGNATURE OF REPORTING PERSON
/s/Lindsay A. Rosenwald, M.D.
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Lindsay A. Rosenwald, M.D.
DATE
3/11/98
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ATTACHMENT A TO FORM 4
Reporting Person: Lindsay A. Rosenwald, M.D.
Issuer: Conversion Technologies International, Inc.
Statement for: April/1998
Lindsay A. Rosenwald, M.D., the President and sole shareholder of
Paramount Capital, Inc., is also the President and sole shareholder of Paramount
Capital Asset Management, Inc. ("Paramount"). Paramount is the General Partner
of the Aries Domestic Fund. L.P. (the "Partnership"), and also serves as the
investment manager to The Aries Trust (the "Trust"), a Cayman Islands trust,
both of which own securities of the Issuer. Paramount and Dr. Rosenwald disclaim
beneficial ownership of the securities held by the Partnership and the Trust,
except to the extent of their pecuniary interests therein, if any.
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ATTACHMENT B
The Warrants were acquired in connection with a private placement of securities
of the Issuer in which Paramount Capital, Inc. acted as placement agent.
Paramount Capital, Inc. designated recipients (the "Designees") of the Warrants.
The reporting person was among the Designees and received Warrants in the amount
indicated herein.
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ATTACHMENT C
The Series A Preferred Stock underlying the Warrants reported herein is
convertible, in the aggregate, into 160,407 shares of Common Stock.
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ATTACHMENT D
Excludes shares owned by Aries Domestic Fund, L.P. and The Aries Fund, a Cayman
Island Trust, which such securities are separately reported by those entities.
