-----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, IkqTQasm8ArWfv14BOJMc8W/5IN/VtTjxDG43qgBmPa6DRKhKuIEnQhl2GBEr4zd xwKB0x7Q72LZMpYfzhP5Fw== 0000922423-98-001051.txt : 19980928 0000922423-98-001051.hdr.sgml : 19980928 ACCESSION NUMBER: 0000922423-98-001051 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19980925 SROS: NASD SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: GENTA INCORPORATED /DE/ CENTRAL INDEX KEY: 0000880643 STANDARD INDUSTRIAL CLASSIFICATION: BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836] IRS NUMBER: 330326866 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: SEC FILE NUMBER: 005-42004 FILM NUMBER: 98714747 BUSINESS ADDRESS: STREET 1: 3550 GENERAL ATOMICS COURT CITY: SAN DIEGO STATE: CA ZIP: 92121 BUSINESS PHONE: 6194552700 MAIL ADDRESS: STREET 1: 3550 GENERAL ATOMICS COURT CITY: SAN DIEGO STATE: CA ZIP: 92121 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: ARIES FINANCIAL SERVICES INC CENTRAL INDEX KEY: 0001007000 STANDARD INDUSTRIAL CLASSIFICATION: [] FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 375 PARK AVENUE STREET 2: SUITE 1501 CITY: NEW YORK STATE: NY ZIP: 10152 BUSINESS PHONE: 2128324379 SC 13D/A 1 AMENDMENT NO. 6 TO SCHEDULE 13D SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. 6)* Genta Incorporated ------------------ (Name of Issuer) Common Stock, par value $.001 per share (Title of Class of Securities) 372 45 M 20 7 ------------- (CUSIP Number) Paramount Capital Asset Management, Inc. c/o Lindsay A. Rosenwald, M.D. 787 Seventh Avenue New York, NY 10019 (212) 554-4300 with a copy to: David R. Walner, Esq. Monica C. Lord, Esq. Paramount Capital Asset Kramer, Levin, Management, Inc. Naftalis & Frankel 787 Seventh Avenue 919 Third Avenue New York, NY 10019 New York, NY 10022 (212) 554-4372 (212) 715-9100 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) September 24, 1998 (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: [_] Note: Six copies of this statement, including all exhibits, should be filed with the Commission. See Rule 13d- 1(a) 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). Page 1 of 10 Pages - -------------------------------------------------------------------------------- CUSIP No. 372 45 M 20 7 13D Page 2 of 10 Pages - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Paramount Capital Asset Management, Inc. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_| (b) |_| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* OO (see Item 3) - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) |-| - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES BENEFICIALLY None OWNED BY ------------------------------------------ EACH 8 SHARED VOTING POWER REPORTING PERSON 15,905,896 WITH ------------------------------------------ 9 SOLE DISPOSITIVE POWER None ------------------------------------------ 10 SHARED DISPOSITIVE POWER 15,905,896 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 15,905,896 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 65.5% (42.0% of the outstanding voting power)** - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* CO - -------------------------------------------------------------------------------- ** The outstanding shares of Series D Preferred Stock of the Issuer are entitled to vote together with the holders of Common Stock on all matters submitted to a vote of stockholders of the Issuer. As of September 24, 1998, Paramount Capital Asset Management, Inc. may be deemed beneficially to own (within the meaning of Rule 13d-3 under the Securities Exchange Act of 1934, as amended) 41.8% of the aggregate voting power of the Common Stock and Series D Preferred Stock outstanding. - -------------------------------------------------------------------------------- CUSIP No. 372 45 M 20 7 13D Page 3 of 10 Pages - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Aries Domestic Fund, L.P. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_| (b) |_| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* OO (see Item 3) - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) |-| - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES BENEFICIALLY None OWNED BY ------------------------------------------ EACH 8 SHARED VOTING POWER REPORTING PERSON 5,467,877 WITH ------------------------------------------ 9 SOLE DISPOSITIVE POWER None ------------------------------------------ 10 SHARED DISPOSITIVE POWER 5,467,877 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,467,877 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 22.5% (14.4% of the outstanding voting power)** - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* PN - -------------------------------------------------------------------------------- ** The outstanding shares of Series D Preferred Stock of the Issuer are entitled to vote together with the holders of Common Stock on all matters submitted to a vote of stockholders of the Issuer. As of September 24, 1998, the Aries Domestic Fund, L.P. may be deemed beneficially to own (within the meaning of Rule 13d-3 under the Securities Exchange Act of 1934, as amended) 14.4% of the aggregate voting power of the Common Stock and Series D Preferred Stock outstanding. - -------------------------------------------------------------------------------- CUSIP No. 372 45 M 20 7 13D Page 4 of 10 Pages - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON The Aries Trust - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_| (b) |_| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* OO (see Item 3) - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) |-| - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Cayman Islands - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES BENEFICIALLY None OWNED BY ------------------------------------------ EACH 8 SHARED VOTING POWER REPORTING PERSON 10,445,019 WITH ------------------------------------------ 9 SOLE DISPOSITIVE POWER None ------------------------------------------ 10 SHARED DISPOSITIVE POWER 10,445,019 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 10,445,019 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 43.0% (27.6% of the outstanding voting power)** - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* OO (see Item 2) - -------------------------------------------------------------------------------- ** The outstanding shares of Series D Preferred Stock of the Issuer are entitled to vote together with the holders of Common Stock on all matters submitted to a vote of stockholders of the Issuer. As of September 24, 1998, The Aries Trust may be deemed beneficially to own (within the meaning of Rule 13d-3 under the Securities Exchange Act of 1934, as amended) 27.6% of the aggregate voting power of the Common Stock and Series D Preferred Stock outstanding. - -------------------------------------------------------------------------------- CUSIP No. 372 45 M 20 7 13D Page 5 of 10 Pages - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Lindsay A. Rosenwald, M.D. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_| (b) |_| - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* OO (see Item 3) - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) |-| - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION United States - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES BENEFICIALLY 822,491** OWNED BY ------------------------------------ EACH 8 SHARED VOTING POWER REPORTING PERSON 15,905,896 WITH ------------------------------------ 9 SOLE DISPOSITIVE POWER 822,491** ------------------------------------ 10 SHARED DISPOSITIVE POWER 15,905,896 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 16,728,387** - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 68.8% (44.2% of the outstanding voting power)*** - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IN - -------------------------------------------------------------------------------- ** Does not include approximately 1,951,801 and 92,101 shares of Common Stock issuable, respectively, upon conversion and exercise of approximately 18,420 shares of Series D Preferred Stock and Class D Warrants issuable upon exercise of Advisory Warrants, which are not exercisable within 60 days of September 24, 1998. *** The outstanding shares of Series D Preferred Stock of the Issuer are entitled to vote together with the holders of Common Stock on all matters submitted to a vote of stockholders of the Issuer. As of September 24, 1998, Lindsay A. Rosenwald, M.D. may be deemed beneficially to own (within the meaning of Rule 13d-3 under the Securities Exchange Act of 1934, as amended) 44.2% of the aggregate voting power of the Common Stock and Series D Preferred Stock outstanding. - -------------------------------------------------------------------------------- CUSIP No. 372 45 M 20 7 13D Page 6 of 10 Pages - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- 1 NAMES OF REPORTING PERSONS S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Mr. Michael S. Weiss - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) |_| (b) [x] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS* PF (see Item 3) - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(d) or 2(e) |-| - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION United States - -------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES BENEFICIALLY 148,354 OWNED BY ---------------------------------------- EACH 8 SHARED VOTING POWER REPORTING PERSON None** WITH ---------------------------------------- 9 SOLE DISPOSITIVE POWER 148,354 ---------------------------------------- 10 SHARED DISPOSITIVE POWER None** - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 148,354** - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 EXCLUDES CERTAIN SHARES* |_| - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 1.8% (0.5% of the outstanding voting power)*** - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON* IN - -------------------------------------------------------------------------------- ** Does not include approximately 502,993 and 23,735 shares of Common Stock issuable, respectively, upon conversion and exercise of approximately 4,747 shares of Series D Preferred Stock and Class D Warrants issuable upon exercise of Advisory Warrants, which are not exercisable within 60 days of September 24, 1998, that are held by an entity of which Mr. Weiss is the managing member. *** The outstanding shares of Series D Preferred Stock of the Issuer are entitled to vote together with the holders of Common Stock on all matters submitted to a vote of stockholders of the Issuer. As of September 24, 1998, Mr. Michael S. Weiss may be deemed beneficially to own (within the meaning of Rule 13d-3 under the Securities Exchange Act of 1934, as amended) 0.5% of the aggregate voting power of the Common Stock and Series D Preferred Stock outstanding. SCHEDULE 13D This Amendment No. 6 amends and supplements the following Items of the Reporting Persons' Statement on Schedule 13D, dated February 24, 1997, as amended to date, (the "Schedule"). ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION The information contained in Item 3 to the Schedule is hereby amended by adding the following: Between August 19 and September 24, Aries Trust and Aries Domestic purchased 431,490 and 141,460 shares of Common Stock (additional "Purchased Common Stock"), respectively, on the open market. Aries Trust and Aries Domestic used their respective general funds for such purchases. Aries Trust made the following purchases: Date No. of Shares Sales Price - ---- ------------- ----------- 08/19/98 17,800 $0.625 08/20/98 17,800 $0.625 08/21/98 2,000 $0.688 08/24/98 12,000 $0.719 08/25/98 11,100 $0.730 08/27/98 11,800 $0.791 08/28/98 11,900 $0.813 08/31/98 12,800 $0.875 09/01/98 12,800 $0.939 09/02/98 12,750 $1.039 09/03/98 12,770 $1.000 09/04/98 12,770 $0.956 09/08/98 18,900 $1.017 09/09/98 18,900 $1.031 09/10/98 18,900 $0.957 09/11/98 18,900 $0.969 09/14/98 21,100 $0.969 09/15/98 28,500 $0.969 09/16/98 20,000 $0.969 09/17/98 21,100 $0.969 09/18/98 21,100 $0.991 09/21/98 23,900 $1.000 09/22/98 24,000 $1.000 09/23/98 23,900 $0.969 09/24/98 24,000 $0.969 Page 7 of 10 Pages Aries Domestic made the following purchases: Date No. of Shares Sales Price - ---- ------------- ----------- 08/19/98 6,200 $0.625 08/20/98 6,200 $0.625 08/24/98 4,000 $0.719 08/25/98 3,900 $0.730 08/27/98 4,200 $0.791 08/28/98 4,100 $0.813 08/31/98 4,450 $0.875 09/01/98 4,450 $0.939 09/02/98 4,500 $1.039 09/03/98 4,480 $1.000 09/04/98 4,480 $0.956 09/08/98 6,600 $1.017 09/09/98 6,600 $1.031 09/10/98 6,600 $0.957 09/11/98 6,600 $0.969 09/14/98 7,400 $0.969 09/16/98 8,500 $0.969 09/17/98 7,400 $0.969 09/18/98 7,400 $0.991 09/21/98 8,400 $1.000 09/22/98 8,300 $1.000 09/23/98 8,400 $0.969 09/24/98 8,300 $0.969 ITEM 5. INTEREST IN SECURITIES OF ISSUER. The information contained in Item 5 to the Schedule is hereby amended and supplemented to read in its entirety as follows: (a) As of September 24, 1998: Dr. Rosenwald, as the sole shareholder of Paramount Capital and as the holder of Placement Warrants and Advisory Warrants, may be deemed beneficially to own 16,728,387 shares or 68.8% of the Issuer's Common Stock; Paramount Capital, through the acquisitions of securities by Aries Trust and Aries Domestic, may be deemed beneficially to own 15,905,896 shares or 65.5% of the Issuer's Common Stock; and Aries Domestic, Aries Trust and Mr. Weiss may be deemed beneficially to own the following numbers of shares of Common Stock: Aries Domestic 5,467,877 Aries Trust 10,445,019 Mr. Weiss 148,354 Pursuant to Rule 13d-4 promulgated under the Securities Exchange Act of 1934, as amended, the Filing Persons disclaim beneficial ownership of all the Common Stock except the Purchased Common Stock. Pursuant to Page 8 of 10 Pages Rule 13d-4 promulgated under the Securities Exchange Act of 1934, as amended, the Aries Reporting Persons and Mr. Weiss each disclaim beneficial ownership of all securities held by the other. The outstanding shares of Series D Preferred Stock of the Issuer are entitled to vote together with the holders of Common Stock on all matters submitted to a vote of stockholders of the Issuer. As of September 24, 1998, Dr. Rosenwald and Paramount Capital may be deemed beneficially to own (within the meaning of Rule 13d-3 under the Securities Exchange Act of 1934, as amended) 44.2% and 42.0%, respectively, of the aggregate voting power of the Common Stock and Series D Preferred Stock outstanding. (b) Dr. Rosenwald and Paramount Capital share the power to vote or to direct the vote, to dispose or to direct the disposition of those shares owned by each of Aries Domestic and Aries Trust. Dr. Rosenwald has the sole power to vote or to direct the vote and to dispose or to direct the disposition of the shares underlying the Placement Warrants and Advisory Warrants held by him. Mr. Weiss has the sole power to vote or to direct the vote and to dispose or to direct the disposition of the shares that he owns. (c) Other than the purchase of Series A Preferred Stock on July 27, 1998 and the open market purchases of Common Stock reported in Item 3, the Reporting Persons have not engaged in any transactions in the Common Stock of the Issuer in the past 60 days. (d)&(e) Not applicable. Page 9 of 10 Pages SIGNATURES After reasonable inquiry and to the best knowledge and belief of the undersigned, the undersigned certify that the information set forth in this statement is true, complete and correct. PARAMOUNT CAPITAL ASSET MANAGEMENT, INC. Dated: September 24, 1998 New York, NY By: /s/ Lindsay A. Rosenwald --------------------------------------- Lindsay A. Rosenwald, M.D. President ARIES DOMESTIC FUND, L.P. By: Paramount Capital Asset Management, Inc. General Partner Dated: September 24, 1998 New York, NY By: /s/ Lindsay A. Rosenwald --------------------------------------- Lindsay A. Rosenwald, M.D. President THE ARIES TRUST By: Paramount Capital Asset Management, Inc. General Partner Dated: September 24, 1998 New York, NY By: /s/ Lindsay A. Rosenwald --------------------------------------- Lindsay A. Rosenwald, M.D. President Dated: September 24, 1998 New York, NY By: /s/ Lindsay A. Rosenwald --------------------------------------- Lindsay A. Rosenwald, M.D. Dated: September 24, 1998 New York, NY By: /s/ Michael S. Weiss --------------------------------------- Mr. Michael S. Weiss Page 10 of 10 Pages -----END PRIVACY-ENHANCED MESSAGE-----