-----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, RBsGu/v+FInBovr4N9YM3jENgqPkLgrwNhhdCPUUzuHVdUfsnHsqGUi/v3sc/7ui fL5z5O6wwSwjU3bhiRQmdg== 0001193125-06-074904.txt : 20060406 0001193125-06-074904.hdr.sgml : 20060406 20060406170526 ACCESSION NUMBER: 0001193125-06-074904 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20060406 DATE AS OF CHANGE: 20060406 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: AspenBio Pharma, Inc. CENTRAL INDEX KEY: 0001167419 STANDARD INDUSTRIAL CLASSIFICATION: IN VITRO & IN VIVO DIAGNOSTIC SUBSTANCES [2835] IRS NUMBER: 841553387 STATE OF INCORPORATION: CO FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-79102 FILM NUMBER: 06745716 BUSINESS ADDRESS: STREET 1: 1585 S. PERRY STREET CITY: CASTLE ROCK STATE: CO ZIP: 80104 BUSINESS PHONE: (303) 794-2000 MAIL ADDRESS: STREET 1: 1585 S. PERRY STREET CITY: CASTLE ROCK STATE: CO ZIP: 80104 FORMER COMPANY: FORMER CONFORMED NAME: ASPENBIO INC DATE OF NAME CHANGE: 20020213 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: TALON ASSET MANAGEMENT, LLC CENTRAL INDEX KEY: 0001007614 IRS NUMBER: 203708262 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 1 N FRANKLIN STREET 2: SUITE 900 CITY: CHICAGO STATE: IL ZIP: 60606 BUSINESS PHONE: 3124225400 MAIL ADDRESS: STREET 1: 1 N FRANKLIN SUITE 900 CITY: CHICAGO STATE: IL ZIP: 60606 FORMER COMPANY: FORMER CONFORMED NAME: TALON ASSET MANAGEMENT INC DATE OF NAME CHANGE: 19960212 SC 13D/A 1 dsc13da.txt ASPENBIO, INC. OMB APPROVAL OMB Number: 3235-0145 Expires: December 31, 2005 Estimated average burden hours per response. . 11 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. 2)* AspenBio Pharma, Inc. (f/k/a Aspenbio, Inc.) - -------------------------------------------------------------------------------- (Name of Issuer) Common Stock, No Par Value - -------------------------------------------------------------------------------- (Title of Class of Securities) 045346103 - -------------------------------------------------------------------------------- (CUSIP Number) Terry Diamond Talon Asset Management, LLC One North Franklin, Suite 900 Chicago, IL 60606 - -------------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) April 3, 2006 - -------------------------------------------------------------------------------- (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 that is the subject of this Schedule 13D, and is filing this schedule because of Sections 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. [X] 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 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). CUSIP No. 045346103 ------------------------------------------------------------------------------ 1. Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only) Talon Asset Management, LLC (successor to Talon Asset Management, Inc.) ------------------------------------------------------------------------------ 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) [ ] (b) [ ] ------------------------------------------------------------------------------ 3. SEC Use Only ------------------------------------------------------------------------------ 4. Source of Funds (See Instructions) OO ------------------------------------------------------------------------------ 5. Check 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 None ----------------------------------------------------------------- Number of 8. Shared Voting Power Shares Beneficially None Owned by ----------------------------------------------------------------- Each 9. Sole Dispositive Power Reporting Person None With ----------------------------------------------------------------- 10. Shared Dispositive Power None ------------------------------------------------------------------------------ 11. Aggregate Amount Beneficially Owned by Each Reporting Person None ------------------------------------------------------------------------------ 12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [ ] ------------------------------------------------------------------------------ 13. Percent of Class Represented by Amount in Row (11) None ------------------------------------------------------------------------------ 14. Type of Reporting Person (See Instructions) CO, IA ------------------------------------------------------------------------------ CUSIP No. 045346103 ------------------------------------------------------------------------------ 1. Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only) Talon Opportunity Partners, L.P. ------------------------------------------------------------------------------ 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) [ ] (b) [ ] ------------------------------------------------------------------------------ 3. SEC Use Only ------------------------------------------------------------------------------ 4. Source of Funds (See Instructions) WC ------------------------------------------------------------------------------ 5. Check 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 None ----------------------------------------------------------------- Number of 8. Shared Voting Power Shares Beneficially None Owned by ----------------------------------------------------------------- Each 9. Sole Dispositive Power Reporting Person None With ----------------------------------------------------------------- 10. Shared Dispositive Power None ------------------------------------------------------------------------------ 11. Aggregate Amount Beneficially Owned by Each Reporting Person None ------------------------------------------------------------------------------ 12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [ ] ------------------------------------------------------------------------------ 13. Percent of Class Represented by Amount in Row (11) None ------------------------------------------------------------------------------ 14. Type of Reporting Person (See Instructions) PN ------------------------------------------------------------------------------ CUSIP No. 045346103 ------------------------------------------------------------------------------ 1. Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only) Talon Opportunity Managers, L.L.C. ------------------------------------------------------------------------------ 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) [ ] (b) [ ] ------------------------------------------------------------------------------ 3. SEC Use Only ------------------------------------------------------------------------------ 4. Source of Funds (See Instructions) OO ------------------------------------------------------------------------------ 5. Check 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 None ----------------------------------------------------------------- Number of 8. Shared Voting Power Shares Beneficially None Owned by ----------------------------------------------------------------- Each 9. Sole Dispositive Power Reporting Person None With ----------------------------------------------------------------- 10. Shared Dispositive Power None ------------------------------------------------------------------------------ 11. Aggregate Amount Beneficially Owned by Each Reporting Person None ------------------------------------------------------------------------------ 12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) [ ] ------------------------------------------------------------------------------ 13. Percent of Class Represented by Amount in Row (11) None ------------------------------------------------------------------------------ 14. Type of Reporting Person (See Instructions) OO ------------------------------------------------------------------------------ Item 1. Security and Issuer This statement relates to the Common Stock, no par value (the "Common Stock"), and warrants to obtain Common Stock issued by AspenBio Pharma, Inc. (f/k/a Aspenbio, Inc.). The Issuer's principal executive offices are located at 1585 South Perry Street, Castle Rock, CO 80104. Item 2. Identity and Background Talon Opportunity Partners, L.P. is a Delaware limited partnership ("Partners") and an investment fund, which is its primary business. Talon Opportunity Managers, L.L.C. is a Delaware limited liability company ("Managers") and is the general partner of Partners, which is its primary business. Talon Asset Management, LLC, is a Delaware limited liability company ("Talon") and is a registered investment adviser, which is its primary business. As a result of a reorganization on January 1, 2006, Talon is the successor to Talon Asset Management, Inc. with respect to its investment advisory business and SEC investment adviser registration. Talon is the manager of Managers. Terry D. Diamond ("Mr. Diamond") is the chairman and a manager of Talon, which is his principal occupation. Mr. Diamond is a United States citizen. Alan D. Wilson ("Mr. Wilson") is the president and a manager of Talon, which is his principal occupation. Mr. Wilson is a United States citizen. William Wolf ("Mr. Wolf") is the chief operating officer and a manager of Talon, which is his principal occupation. Mr. Wolf is a United States citizen. Barbara L. Rumminger ("Ms. Rumminger") is the secretary of Talon, which is her principal occupation. Ms. Rumminger is a United States citizen. Bruce E. Beerbower ("Mr. Beerbower") is the treasurer of Talon, which is his principal occupation. Mr. Beerbower is a United States citizen. The principal business address and principal offices of each of Partners; Managers; Talon; and the business address for Mr. Diamond, Mr. Wilson, Mr. Wolf, Ms. Rumminger, and Mr. Beerbower, are located at One North Franklin, Suite 900, Chicago, IL 60606 During the past five years, none of Partners, Managers, Talon, Mr. Diamond, Mr. Wilson, Mr. Wolf, Ms. Rumminger, and Mr. Beerbower have been (i) convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or (ii) a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws, or finding any violation with respect to such laws. Item 3. Source and Amount of Funds or Other Consideration Partners used its working capital to purchase the securities reported herein. Partners participated in a private placement offering by the Issuer, investing on July 20, 2004, $200,000 and receiving 228,571 shares of Common Stock and 228,571 warrants to purchase Common Stock; and on August 19, 2004, investing $800,000 and receiving 914,286 shares of Common Stock and 914,286 warrants to purchase Common Stock. Each of these warrants are exercisable for five years at $1.50 per share. Subsequently Partners participated in another private placement offering by the Issuer, investing on May 5, 2005, $1,000,000 and receiving 1,142,857 shares of Common Stock and 1,142,857 warrants to purchase the same number of shares of Common Stock exercisable for five years at $1.35 per share. On November 23, 2005, Partners acquired an additional 53,624 shares from the Issuer pursuant to an agreement by and between the Issuer and Partners, under which the Issuer agreed to issue additional shares to Partners in the event that a registration statement covering the resale of shares already held by Partners was not declared effective by the SEC by a specified period of time. On April 3, 2006, the Reporting Persons sold all Common Stock and warrants to obtain Common Stock previously acquired by the Reporting Persons. Item 4. Purpose of Transaction The securities sold had been acquired for the purpose of investment. Subject to availability at prices deemed favorable, the Reporting Persons may acquire additional shares of Common Stock of the Issuer from time to time in the open market, in privately negotiated transactions or otherwise. The Reporting Persons may also dispose of shares of Common Stock of the Issuer from time to time in the open market, in privately negotiated transactions or otherwise. The Reporting Persons or persons affiliated therewith may also enter into transactions directly with the Issuer with respect to the acquisition or disposition of shares, or otherwise. Item 5. Interest in Securities of the Issuer (a) Partners, Managers and Talon do not own any shares of Common Stock or warrants to obtain Common Stock of the Company. (b) The responses to Items 7-10 of the cover sheets are incorporated herein. (c) On April 3, 2006, Partners sold 2,339,338 shares of Common Stock, at $1.40 per share, and 2,285,714 warrants, to obtain Common Stock, at $0.01 per warrant, in privately negotiated transactions. (d) Not applicable. (e) April 3, 2006 Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer Except as described in Item 3, there are no contracts, arrangements, understandings or relationships with respect to the securities of the Issuer. Item 7. Material to Be Filed as Exhibits Exhibit A: Joint Filing Agreement Pursuant to Rule 13d-1. 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. April 6, 2006 ----------------------------- Date TALON ASSET MANAGEMENT, LLC /s/ Terry Diamond ---------------------------------- Signature Terry Diamond/Chairman Name/Title TALON OPPORTUNITY PARTNERS, L.P. By: Talon Opportunity Managers, L.L.C. Its General Partner By: Talon Asset Management, LLC Its Manager /s/ Terry Diamond ---------------------------------- Signature Terry Diamond/Chairman Name/Title TALON OPPORTUNITY MANAGERS, L.L.C. By: Talon Asset Management, LLC Its Manager /s/ Terry Diamond ---------------------------------- Signature Terry Diamond/Chairman Name/Title EXHIBIT A Joint Filing Agreement Talon Asset Management, LLC (an investment adviser registered under the Investment Advisers Act 1940), Talon Opportunity Partners, L.P., a Delaware limited partnership, and Talon Opportunity Managers, L.L.C., a Delaware limited liability company, hereby agree to file jointly the statement on Schedule 13D to which this Agreement is attached, and any amendments thereto which may be deemed necessary. It is understood and agreed that each of the parties hereto is responsible for the timely filing of such statement and any amendments thereto, and for the completeness and accuracy of the information concerning such party contained therein, but such party is not responsible for the completeness or accuracy of information concerning the other party unless such party knows or has reason to believe that such information is inaccurate. It is understood and agreed that a copy of this Agreement shall be attached as an exhibit to the statement on Schedule 13D, and any amendments thereto, filed on behalf of each of the parties hereto. Dated: April 6, 2006 TALON ASSET MANAGEMENT, LLC /s/ Terry Diamond ---------------------------------- Signature Terry Diamond/Chairman Name/Title TALON OPPORTUNITY PARTNERS, L.P. By: Talon Opportunity Managers, L.L.C. Its General Partner By: Talon Asset Management, LLC Its Manager /s/ Terry Diamond ---------------------------------- Signature Terry Diamond/Chairman Name/Title TALON OPPORTUNITY MANAGERS, L.L.C. By: Talon Asset Management, LLC Its Manager /s/ Terry Diamond ---------------------------------- Signature Terry Diamond/Chairman Name/Title -----END PRIVACY-ENHANCED MESSAGE-----