-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, EiR/6cI+8x6cTdeTZrMnUf0hp/VPgjy+ULv97BpA5cEkUTW6CKq4xr8TRz+zbYKH rACqA6F2r3O9P4XWVGFmZA== 0000950159-02-000299.txt : 20020510 0000950159-02-000299.hdr.sgml : 20020510 ACCESSION NUMBER: 0000950159-02-000299 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20020510 GROUP MEMBERS: ELLEN H. ADAMS SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: PENWEST PHARMACEUTICALS CO CENTRAL INDEX KEY: 0001047188 STANDARD INDUSTRIAL CLASSIFICATION: PHARMACEUTICAL PREPARATIONS [2834] IRS NUMBER: 911513032 STATE OF INCORPORATION: WA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G SEC ACT: 1934 Act SEC FILE NUMBER: 005-55303 FILM NUMBER: 02641778 BUSINESS ADDRESS: STREET 1: 2981 ROUTE 22 CITY: PATTERSON STATE: NY ZIP: 12563-9970 BUSINESS PHONE: 9148783414 MAIL ADDRESS: STREET 1: 2981 ROUTE 22 CITY: PATTERSON STATE: NY ZIP: 12563-9970 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: TANICO PAUL P CENTRAL INDEX KEY: 0001136517 FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: 101 PARK AVE STREET 2: 6TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10178 BUSINESS PHONE: 2128787654 MAIL ADDRESS: STREET 1: 101 PARK AVE STREET 2: 6TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10178 SC 13G 1 penwest13g.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. __)* Penwest Pharmaceuticals Co. ------------------------------- (Name of Issuer) Common Stock, $.001 par value ------------------------------ (Title of Class of Securities) 709754105 ------------- (CUSIP Number) July 11, 2001 ------------------------------------------------------- (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) [X] Rule 13d-1(c) [ ] Rule 13d-1(d) *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 ("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). SCHEDULE 13G Penwest Pharmaceuticals Co. CUSIP No. 709754105 - -------------------------------------------------------------------------------- 1) NAME OF REPORTING PERSONS S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS Paul P. Tanico - -------------------------------------------------------------------------------- 2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) (b) - -------------------------------------------------------------------------------- 3) SEC USE ONLY - -------------------------------------------------------------------------------- 4) CITIZENSHIP OR PLACE OR ORGANIZATION United States - -------------------------------------------------------------------------------- NUMBER OF 5) SOLE VOTING POWER SHARES 41,000 BENEFICIALLY -------------------------------------------------------- OWNED BY 6) SHARED VOTING POWER EACH 997,095 REPORTING -------------------------------------------------------- PERSON 7) SOLE DISPOSITIVE POWER WITH 41,000 -------------------------------------------------------- 8) SHARED DISPOSITIVE POWER 997,095 - -------------------------------------------------------------------------------- 9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,038,095 - -------------------------------------------------------------------------------- 10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* - -------------------------------------------------------------------------------- 11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 6.7% - -------------------------------------------------------------------------------- 12) TYPE OF REPORTING PERSON* IN SCHEDULE 13G Penwest Pharmaceuticals Co. CUSIP No. 709754105 - -------------------------------------------------------------------------------- 1) NAME OF REPORTING PERSONS S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS Ellen H. Adams - -------------------------------------------------------------------------------- 2) CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) (b) - -------------------------------------------------------------------------------- 3) SEC USE ONLY - -------------------------------------------------------------------------------- 4) CITIZENSHIP OR PLACE OR ORGANIZATION United States - -------------------------------------------------------------------------------- NUMBER OF 5) SOLE VOTING POWER SHARES 31,200 BENEFICIALLY -------------------------------------------------------- OWNED BY 6) SHARED VOTING POWER EACH 997,095 REPORTING -------------------------------------------------------- PERSON 7) SOLE DISPOSITIVE POWER WITH 31,200 -------------------------------------------------------- 8) SHARED DISPOSITIVE POWER 997,095 - -------------------------------------------------------------------------------- 9) AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 1,028,295 - -------------------------------------------------------------------------------- 10) CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* - -------------------------------------------------------------------------------- 11) PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 6.6% - -------------------------------------------------------------------------------- 12) TYPE OF REPORTING PERSON* IN NOTE: Issuer reported 15,478,977 shares of common stock, $.001 par value, outstanding in its Proxy Statement on Form 14A dated April 30, 2002. Item 1(a). Name of Issuer: Penwest Pharmaceuticals Co. Item 1(b). Address of Issuer's Principal Executive Offices: 2981 Route 22 Patterson, New York 12563 Item 2(a). Name of Person Filing: This statement is filed by: (A) Paul P. Tanico ("Tanico"), with respect to the shares of Common Stock, $.001 par value per share ("Common Stock") of Penwest Pharmaceuticals Co. (the "Company") (a) also beneficially owned by CastleRock Management, LLC, a Delaware limited liability company ("Management LLC"), of which Tanico is a managing member, (b) also beneficially owned by CastleRock Asset Management, Inc., a New York corporation ("Management Inc."), of which Tanico is a director, officer and stockholder, (c) owned directly by Tanico, and (d) held in certain accounts over which Tanico shares investment discretion. (B) Ellen H. Adams ("Adams"), with respect to the shares of Common Stock of the Company (a) also beneficially owned by Management LLC, of which Adams is a managing member, (b) also beneficially owned by Management Inc., of which Adams is a director, officer and stockholder, (c) owned directly by a trust of which Adams is a trustee, (d) held in certain accounts over which Adams shares investment discretion. Management LLC beneficially owns all of the 337,960 shares of Common Stock of the Company owned directly by CastleRock Partners, L.P. a Delaware limited partnership ("Partners I"), of which Management LLC is the general partner, and all of the 26,450 shares of Common Stock of the Company directly owned by CastleRock Partners II, L.P. a Delaware limited partnership ("Partners II"), of which Management LLC is the general partner. Management Inc. beneficially owns all of the 492,735 shares of Common Stock of the Company directly owned by CastleRock Fund, Ltd., an international business company organized in the British Virgin Islands ("Fund"), for which Management Inc. serves as an investment advisor, and all of the 139,950 shares of Common Stock of the Company directly owned by certain accounts for which Management Inc. exercises investment discretion. Tanico and Adams are hereinafter collectively referred to as the "Reporting Persons." Item 2(b). Address of Principal Business Office or, if None, Residence: The principal business office of each of the Reporting Persons is: c/o CastleRock Asset Management, Inc. 101 Park Avenue, 23rd Floor New York, New York 10178 Item 2(c). Citizenship: Each of Tanico and Adams is a citizen of the United States of America. Item 2(d). Title of Class of Securities: Common Stock, $.001 par value Item 2(e). CUSIP Number: 709754105 Item 4. Ownership. A. Tanico (a) Amount beneficially owned: 1,038,095 (b) Percent of class: 6.7% (c) (i) Sole power to vote or direct the vote: 41,000 (ii) Shared power to vote or direct the vote: 997,095 (iii) Sole power to dispose or direct the disposition: 41,000 (iv) Shared power to dispose or direct the disposition: 997,095 B. Adams (a) Amount beneficially owned: 1,028,295 (b) Percent of class: 6.6% (c) (i) Sole power to vote or direct the vote: 31,200 (ii) Shared power to vote or direct the vote: 997,095 (iii) Sole power to dispose or direct the disposition: 31,200 (iv) Shared power to dispose or direct the disposition: 997,095 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 or Control Person. N.A. Item 8. Identification and Classification of Members of the Group. N.A. Item 9. Notice of Dissolution of Group. N.A. Item 10. Certifications. By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. 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. Dated: May 10, 2002 /s/ Paul P. Tanico ------------------------------- Paul P. Tanico /s/ Ellen H. Adams ------------------------------- Ellen H. Adams EXHIBIT INDEX - ------------- Exhibits 1. Joint Filing Agreement, dated May 10, 2002, between Tanico and Adams. EXHIBIT 1 - --------- JOINT FILING AGREEMENT The undersigned hereby agree that this Statement on Schedule 13G with respect to the beneficial ownership of shares of Common Stock, par value $.001 par value per share, of Penwest Pharmaceuticals Co. is filed jointly, on behalf of each of them. Dated: May 10, 2002 /s/ Paul P. Tanico ------------------------------- Paul P. Tanico /s/ Ellen H. Adams ------------------------------- Ellen H. Adams -----END PRIVACY-ENHANCED MESSAGE-----