SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. ___________)*
Cell Pathways, Inc.
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(Name of Issuer)
Common
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(Title of Class of Securities)
15114R101
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(CUSIP Number)
November 10, 2000
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(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:
[_] Rule 13d-1(b)
[_] Rule 13d-(c)
[X] Rule 13d-1(d)
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* 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 the disclosures provided in a prior cover page.
The information required in 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 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. 15114R101 13G Page 2 of 12 Pages
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1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Paul J. Duggan ###-##-####
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
N/A
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3. SEC USE ONLY
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4. CITIZENSHIP OR PLACE OF ORGANIZATION
Illinois
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NUMBER OF 5. SOLE VOTING POWER
SHARES 12,998
-----------------------------------------------------------------
BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY 2,628,585
-----------------------------------------------------------------
EACH 7. SOLE DISPOSITIVE POWER
REPORTING 12,998
-----------------------------------------------------------------
PERSON 8. SHARED DISPOSITIVE POWER
WITH 2,628,585
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,641,583
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10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[ ]
--------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
8.138%
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12. TYPE OF REPORTING PERSON*
Individual
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*SEE INSTRUCTIONS
<PAGE>
CUSIP No. 15114R101 13G Page 3 of 12 Pages
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1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Jackson Boulevard Capital Management, Ltd. 36-3861492
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
N/A
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3. SEC USE ONLY
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4. CITIZENSHIP OR PLACE OF ORGANIZATION
Illinois
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NUMBER OF 5. SOLE VOTING POWER
SHARES 0
-----------------------------------------------------------------
BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY 136,500
-----------------------------------------------------------------
EACH 7. SOLE DISPOSITIVE POWER
REPORTING 0
-----------------------------------------------------------------
PERSON 8. SHARED DISPOSITIVE POWER
WITH 136,500
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
136,500
--------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[ ]
--------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.421%
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12. TYPE OF REPORTING PERSON*
Corporation
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*SEE INSTRUCTIONS
<PAGE>
CUSIP No. 15114R101 13G Page 4 of 12 Pages
--------------------------------------------------------------------------------
1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Jackson Boulevard Equities, L.P. 36-3861491
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
N/A
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3. SEC USE ONLY
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4. CITIZENSHIP OR PLACE OF ORGANIZATION
Illinois
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NUMBER OF 5. SOLE VOTING POWER
SHARES
-----------------------------------------------------------------
BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY 67,951
-----------------------------------------------------------------
EACH 7. SOLE DISPOSITIVE POWER
REPORTING
-----------------------------------------------------------------
PERSON 8. SHARED DISPOSITIVE POWER
WITH 67,951
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
67,951
--------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[ ]
--------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.209%
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12. TYPE OF REPORTING PERSON*
Partnership
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*SEE INSTRUCTIONS
<PAGE>
CUSIP No. 15114R101 13G Page 5 of 12 Pages
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1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Jackson Boulevard Investments, L.P. 36-4191301
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
N/A
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3. SEC USE ONLY
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4. CITIZENSHIP OR PLACE OF ORGANIZATION
Illinois
--------------------------------------------------------------------------------
NUMBER OF 5. SOLE VOTING POWER
SHARES
-----------------------------------------------------------------
BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY 39,218
-----------------------------------------------------------------
EACH 7. SOLE DISPOSITIVE POWER
REPORTING
-----------------------------------------------------------------
PERSON 8. SHARED DISPOSITIVE POWER
WITH 39,218
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
39,218
--------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[ ]
--------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.121%
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12. TYPE OF REPORTING PERSON*
Partnership
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*SEE INSTRUCTIONS
<PAGE>
CUSIP No. 15114R101 13G Page 6 of 12 Pages
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1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Jackson Offshore Fund, Ltd.
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
N/A
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3. SEC USE ONLY
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4. CITIZENSHIP OR PLACE OF ORGANIZATION
British Virgin Islands
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NUMBER OF 5. SOLE VOTING POWER
SHARES
-----------------------------------------------------------------
BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY 29,331
-----------------------------------------------------------------
EACH 7. SOLE DISPOSITIVE POWER
REPORTING
-----------------------------------------------------------------
PERSON 8. SHARED DISPOSITIVE POWER
WITH 29,331
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
29,331
--------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[ ]
--------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
0.090%
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12. TYPE OF REPORTING PERSON*
Corporation
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*SEE INSTRUCTIONS
<PAGE>
CUSIP No. 15114R101 13G Page 7 of 12 Pages
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1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Jackson Boulevard Ventures, L.P. 36-4034720
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
N/A
--------------------------------------------------------------------------------
3. SEC USE ONLY
--------------------------------------------------------------------------------
4. CITIZENSHIP OR PLACE OF ORGANIZATION
Illinois
--------------------------------------------------------------------------------
NUMBER OF 5. SOLE VOTING POWER
SHARES
-----------------------------------------------------------------
BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY 1,997,027
-----------------------------------------------------------------
EACH 7. SOLE DISPOSITIVE POWER
REPORTING
-----------------------------------------------------------------
PERSON 8. SHARED DISPOSITIVE POWER
WITH 1,997,027
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,997,027
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10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[ ]
--------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.152%
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12. TYPE OF REPORTING PERSON*
Partnership
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*SEE INSTRUCTIONS
<PAGE>
CUSIP No. 15114R101 13G Page 8 of 12 Pages
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1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Jackson Boulevard Partners 36-3768583
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
N/A
--------------------------------------------------------------------------------
3. SEC USE ONLY
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4. CITIZENSHIP OR PLACE OF ORGANIZATION
Illinois
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NUMBER OF 5. SOLE VOTING POWER
SHARES
-----------------------------------------------------------------
BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY 480,260
-----------------------------------------------------------------
EACH 7. SOLE DISPOSITIVE POWER
REPORTING
-----------------------------------------------------------------
PERSON 8. SHARED DISPOSITIVE POWER
WITH 480,260
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
480,260
--------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[ ]
--------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
1.480%
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12. TYPE OF REPORTING PERSON*
Partnership
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*SEE INSTRUCTIONS
<PAGE>
CUSIP No. 15114R101 13G Page 9 of 12 Pages
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1. NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
Deborah Gemini ###-##-####
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [ ]
N/A
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3. SEC USE ONLY
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4. CITIZENSHIP OR PLACE OF ORGANIZATION
Illinois
--------------------------------------------------------------------------------
NUMBER OF 5. SOLE VOTING POWER
SHARES 14,798
-----------------------------------------------------------------
BENEFICIALLY 6. SHARED VOTING POWER
OWNED BY 480,260
-----------------------------------------------------------------
EACH 7. SOLE DISPOSITIVE POWER
REPORTING 14,798
-----------------------------------------------------------------
PERSON 8. SHARED DISPOSITIVE POWER
WITH 480,260
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9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
495,058
--------------------------------------------------------------------------------
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[ ]
--------------------------------------------------------------------------------
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
1.525%
--------------------------------------------------------------------------------
12. TYPE OF REPORTING PERSON*
Individual
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*SEE INSTRUCTIONS
<PAGE>
Item 1(a). Name of Issuer:
Cell Pathways, Inc.
(b). Address of Issuer's Principal Executive Offices:
702 Electronic Drive, Horsham, PA 19044
Item 2(a). Name of Person Filing:
Paul J. Duggan ("Duggan"), Jackson Boulevard Capital
Management, Ltd. ("Jackson Capital"), Jackson Boulevard
Equities, L.P. ("Jackson Equity"), Jackson Boulevard
Investments, L.P. ("Jackson Investments"), Jackson Boulevard
Partners ("Jackson Partners"), Jackson Boulevard Ventures,
L.P. "Jackson Ventures"), Deborah Gemini ("Gemini") and
Jackson Offshore Fund, Ltd. ("Jackson Offshore")
(collectively, the "Group"). Duggan and Gemini are Partners
in Jackson Partners.
The percentages used in this filing are calculated based upon
the number of outstanding shares of Common Stock, 27,873,457,
reported as the number of outstanding shares as of September
30, 2000, plus 3,200,000 shares issued pursuant to private
transaction reported on November 10, 2000 and outstanding
warrants owned by filer of 1,387,500 for a total of
32,460,957.
(b). Address of Principal Business Office, or if None, Residence:
53 West Jackson Blvd., Suite 400, Chicago, IL 60604
(c). Citizenship:
Jackson Capital is an Illinois Corporation. Jackson Equity,
Jackson Investment, Jackson Partners, and Jackson Ventures are
partnerships organized under the laws of Illinois, Jackson
Offshore is an offshore fund domiciled in Tortola, B.W.I.,
Duggan and Gemini are United States citizens.
(d). Title of Class of Securities:
Common
(e). CUSIP Number:
15114R101
Item 3. If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b)
or (c), Check Whether the Person Filing is a:
N/A
<PAGE>
Item 4. Ownership.
Provide the following information regarding the aggregate number and percentage
of the class of securities of the issuer identified in Item 1.
See Items 5 through 9 and Item 11 on pages 2 through 8.
(a) Amount beneficially owned:
2,641,583
(b) Percent of class:
8.138%
(c) Number of shares as to which such person has:
(i) Sole power to vote or to direct the vote
12,998
(ii) Shared power to vote or to direct the vote
2,628,585
(iii) Sole power to dispose or to direct the disposition of
12,998
(iv) Shared power to dispose or to direct the disposition of
2,628,585
Item 5. Ownership of Five Percent or Less of a Class.
N/A
Item 6. Ownership of More Than Five Percent on Behalf of Another Person.
N/A
Item 7. Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on by the Parent Holding Company.
N/A
Item 8. Identification and Classification of Members of the Group.
Item 9. Notice of Dissolution of Group.
Item 10. Certifications.
N/A
<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.
/s/ Paul J. Duggan
-------------------------------------------
Paul J. Duggan, an individual
/s/ Deborah Gemini
-------------------------------------------
Deborah Gemini, an individual
Jackson Boulevard Capital Management, Ltd.
By: /s/ Paul J. Duggan
-------------------------------------------
Paul J. Duggan, President
Jackson Boulevard Equities, L.P.
By: Jackson Boulevard Capital Management,
Ltd. General Partner
By: /s/ Paul J. Duggan
--------------------------------
Paul J. Duggan, President
Jackson Boulevard Investments, L.P.
By: Jackson Boulevard Capital Management,
Ltd. General Partner
By: /s/ Paul J. Duggan
--------------------------------
Paul J. Duggan, President
Jackson Offshore Fund, Ltd.
By: Jackson Boulevard Capital Management,
Ltd. Investment Manager
By: /s/ Paul J. Duggan
--------------------------------
Paul J. Duggan, President
Jackson Boulevard Partners
By: Jackson Boulevard Partners
By: /s/ Paul J. Duggan
--------------------------------
Paul J. Duggan, Partner
Jackson Boulevard Ventures, L.P.
By: Jackson Boulevard Capital Management,
Ltd. General Partner
/s/ Paul J. Duggan
-------------------------------------------
Paul J. Duggan, President
The original statement shall be signed by each person on whose behalf the
statement is filed or his authorized representative. If the statement is signed
on behalf of a person by his authorized representative other than an executive
officer or general partner of the filing person, evidence of the
representative's authority to sign on behalf of such person shall be filed with
the statement, provided, however, that a power of attorney for this purpose
which is already on file with the Commission may be incorporated by reference.
The name and any title of each person who signs the statement shall be typed or
printed beneath his signature.
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 for other
parties for whom copies are to be sent.
Attention: Intentional misstatements or omissions of fact constitute Federal
criminal violations (See 18 U.S.C. 1001)
