-----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, QvWJi+Tn5Cm59t5SbGoV9CqCGp9Up2P8k0/5Ua2nkwzRuk6UY+GQtfS9G66GD2kS lExs3haltPNnE7MFlniyDg== 0000931921-05-000012.txt : 20050214 0000931921-05-000012.hdr.sgml : 20050214 20050214162436 ACCESSION NUMBER: 0000931921-05-000012 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20050214 DATE AS OF CHANGE: 20050214 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: LIGAND PHARMACEUTICALS INC CENTRAL INDEX KEY: 0000886163 STANDARD INDUSTRIAL CLASSIFICATION: PHARMACEUTICAL PREPARATIONS [2834] IRS NUMBER: 770160744 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-43329 FILM NUMBER: 05610772 BUSINESS ADDRESS: STREET 1: 10275 SCIENCE CENTER DRIVE CITY: SAN DIEGO STATE: CA ZIP: 92121-1117 BUSINESS PHONE: 8585507500 MAIL ADDRESS: STREET 1: 10275 SCIENCE CENTER DRIVE CITY: SAN DIEGO STATE: CA ZIP: 92121-1117 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: HIGHBRIDGE CAPITAL CORP CENTRAL INDEX KEY: 0000931921 IRS NUMBER: 000000000 STATE OF INCORPORATION: E9 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: THE CAYMAN CORPORATE CENTRE, 4TH FLOOR STREET 2: 27 HOSPITAL ROAD CITY: GRAND CAYMAN ISLANDS STATE: E9 ZIP: 00000 BUSINESS PHONE: 3459451400 MAIL ADDRESS: STREET 1: HIGHBRIDGE CAPITAL CORPORATION STREET 2: P.O. BOX 30554, SEVEN MILE BEACH CITY: GRAND CAYMAN STATE: E9 ZIP: 00000 SC 13G/A 1 lgnd-am1.txt LIGAND PHARMACEUTICALS INCORPORATED - COMMON STOCK UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G/A (Rule 13d-102) Information Statement Pursuant to Rules 13d-1 and 13d-2 Under the Securities Exchange Act of 1934 (Amendment No. 1)* LIGAND PHARMACEUTICALS INCORPORATED - ------------------------------------------------------------------------------- (Name of Issuer) Common Stock - ------------------------------------------------------------------------------- (Title of Class of Securities) 53220KAB4 --------------------------- (CUSIP Number) December 31, 2004 ----------------------------------------------------- Date of Event Which Requires Filing of this Statement Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [x] Rule 13d-1 (b) [ ] 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). - -------------------------------------------------------------------------- CUSIP NO. 53220KAB4 - -------------------------------------------------------------------------- 1. NAME OF REPORTING PERSON S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Highbridge International LLC - not applicable - -------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [ ] - -------------------------------------------------------------------------- 3. SEC USE ONLY - -------------------------------------------------------------------------- 4. CITIZENSHIP OR PLACE OF ORGANIZATION Cayman Islands, British West Indies - -------------------------------------------------------------------------- 5. SOLE VOTING POWER 0 NUMBER OF ----------------------------------------------------------- 6. SHARED VOTING POWER SHARES $155,250,000 aggregate principal amount of 6% Convertible BENEFICIALLY Subordinated Notes (the "Notes") due November 16, 2007 (convertible into 2,790,772 shares of the issuer's common OWNED BY stock (conversion rate of 161.9905 shares per $1,000 principal amount of the Notes). EACH See footnote 1 in Item 4. REPORTING ----------------------------------------------------------- 7. SOLE DISPOSITIVE POWER PERSON 0 WITH ----------------------------------------------------------- 8. SHARED DISPOSITIVE POWER See Row 6 above. - -------------------------------------------------------------------------- 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON See Row 6 above. - -------------------------------------------------------------------------- 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ] - -------------------------------------------------------------------------- 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) Approximately 3.64%. (Based on 73,932,315 shares of Common Stock outstanding as of October 29, 2004, plus the Reporting Person's shares of Common Stock issuable upon the conversion of the Convertible Notes.) - -------------------------------------------------------------------------- 12. TYPE OF REPORTING PERSON OO - Limited Liability Company - -------------------------------------------------------------------------- CUSIP NO. 53220KAB4 - -------------------------------------------------------------------------- 1. NAME OF REPORTING PERSON S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Highbridge Capital Corporation - not applicable - -------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [ ] - -------------------------------------------------------------------------- 3. SEC USE ONLY - -------------------------------------------------------------------------- 4. CITIZENSHIP OR PLACE OF ORGANIZATION Cayman Islands, British West Indies - -------------------------------------------------------------------------- 5. SOLE VOTING POWER 0 NUMBER OF ----------------------------------------------------------- 6. SHARED VOTING POWER SHARES $155,250,000 aggregate principal amount of 6% Convertible BENEFICIALLY Subordinated Notes (the "Notes") due November 16, 2007 (convertible into 2,790,772 shares of the issuer's common OWNED BY stock (conversion rate of 161.9905 shares per $1,000 principal amount of the Notes). EACH See footnote 1 in Item 4. REPORTING ----------------------------------------------------------- 7. SOLE DISPOSITIVE POWER PERSON 0 WITH ----------------------------------------------------------- 8. SHARED DISPOSITIVE POWER See Row 6 above. - -------------------------------------------------------------------------- 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON See Row 6 above. - -------------------------------------------------------------------------- 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ] - -------------------------------------------------------------------------- 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) Approximately 3.64%. (Based on 73,932,315 shares of Common Stock outstanding as of October 29, 2004, plus the Reporting Person's shares of Common Stock issuable upon the conversion of the Convertible Notes.) - -------------------------------------------------------------------------- 12. TYPE OF REPORTING PERSON BD - Broker Dealer - -------------------------------------------------------------------------- CUSIP NO. 53220KAB4 - -------------------------------------------------------------------------- 1. NAME OF REPORTING PERSON S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Highbridge Capital Management, LLC - 20-1901985 - -------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [ ] - -------------------------------------------------------------------------- 3. SEC USE ONLY - -------------------------------------------------------------------------- 4. CITIZENSHIP OR PLACE OF ORGANIZATION State of Delaware - -------------------------------------------------------------------------- 5. SOLE VOTING POWER 0 NUMBER OF ----------------------------------------------------------- 6. SHARED VOTING POWER SHARES $155,250,000 aggregate principal amount of 6% Convertible BENEFICIALLY Subordinated Notes (the "Notes") due November 16, 2007 (convertible into 2,790,772 shares of the issuer's common OWNED BY stock (conversion rate of 161.9905 shares per $1,000 principal amount of the Notes). EACH See footnote 1 in Item 4. REPORTING ----------------------------------------------------------- 7. SOLE DISPOSITIVE POWER PERSON 0 WITH ----------------------------------------------------------- 8. SHARED DISPOSITIVE POWER See Row 6 above. - -------------------------------------------------------------------------- 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON See Row 6 above. - -------------------------------------------------------------------------- 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ] - -------------------------------------------------------------------------- 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) Approximately 3.64%. (Based on 73,932,315 shares of Common Stock outstanding as of October 29, 2004, plus the Reporting Person's shares of Common Stock issuable upon the conversion of the Convertible Notes.) - -------------------------------------------------------------------------- 12. TYPE OF REPORTING PERSON OO - Limited Liability Company - -------------------------------------------------------------------------- CUSIP NO. 53220KAB4 - -------------------------------------------------------------------------- 1. NAME OF REPORTING PERSON S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Glenn Dubin - -------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [ ] - -------------------------------------------------------------------------- 3. SEC USE ONLY - -------------------------------------------------------------------------- 4. CITIZENSHIP OR PLACE OF ORGANIZATION United States - -------------------------------------------------------------------------- 5. SOLE VOTING POWER 0 NUMBER OF ----------------------------------------------------------- 6. SHARED VOTING POWER SHARES $155,250,000 aggregate principal amount of 6% Convertible BENEFICIALLY Subordinated Notes (the "Notes") due November 16, 2007 (convertible into 2,790,772 shares of the issuer's common OWNED BY stock (conversion rate of 161.9905 shares per $1,000 principal amount of the Notes). EACH See footnote 1 in Item 4. REPORTING ----------------------------------------------------------- 7. SOLE DISPOSITIVE POWER PERSON 0 WITH ----------------------------------------------------------- 8. SHARED DISPOSITIVE POWER See Row 6 above. - -------------------------------------------------------------------------- 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON See Row 6 above. - -------------------------------------------------------------------------- 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ] - -------------------------------------------------------------------------- 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) Approximately 3.64%. (Based on 73,932,315 shares of Common Stock outstanding as of October 29, 2004, plus the Reporting Person's shares of Common Stock issuable upon the conversion of the Convertible Notes.) - -------------------------------------------------------------------------- 12. TYPE OF REPORTING PERSON IN - -------------------------------------------------------------------------- CUSIP NO. 53220KAB4 - -------------------------------------------------------------------------- 1. NAME OF REPORTING PERSON S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Henry Swieca - -------------------------------------------------------------------------- 2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ] (b) [ ] - -------------------------------------------------------------------------- 3. SEC USE ONLY - -------------------------------------------------------------------------- 4. CITIZENSHIP OR PLACE OF ORGANIZATION United States - -------------------------------------------------------------------------- 5. SOLE VOTING POWER 0 NUMBER OF ----------------------------------------------------------- 6. SHARED VOTING POWER SHARES $155,250,000 aggregate principal amount of 6% Convertible BENEFICIALLY Subordinated Notes (the "Notes") due November 16, 2007 (convertible into 2,790,772 shares of the issuer's common OWNED BY stock (conversion rate of 161.9905 shares per $1,000 principal amount of the Notes). EACH See footnote 1 in Item 4. REPORTING ----------------------------------------------------------- 7. SOLE DISPOSITIVE POWER PERSON 0 WITH ----------------------------------------------------------- 8. SHARED DISPOSITIVE POWER See Row 6 above. - -------------------------------------------------------------------------- 9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON See Row 6 above. - -------------------------------------------------------------------------- 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* [ ] - -------------------------------------------------------------------------- 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) Approximately 3.64%. (Based on 73,932,315 shares of Common Stock outstanding as of October 29, 2004, plus the Reporting Person's shares of Common Stock issuable upon the conversion of the Convertible Notes.) - -------------------------------------------------------------------------- 12. TYPE OF REPORTING PERSON IN Item 1. (a) Name of Issuer Ligand Pharmaceuticals Incorporated (b) Address of Issuer's Principal Executive Offices: 10275 Science Center Drive San Diego, California 92121-1117 Item 2(a). Name of Person Filing Item 2(b). Address of Principal Business Office Item 2(c). Citizenship This Schedule 13G/A is being filed on behalf of each of the following persons (each, a "Reporting Person"): Highbridge International LLC The Cayman Corporate Centre, 4th Floor 27 Hospital Road Grand Cayman, Cayman Islands, British West Indies Citizenship: Cayman Islands, British West Indies Highbridge Capital Corporation The Cayman Corporate Centre, 4th Floor 27 Hospital Road Grand Cayman, Cayman Islands, British West Indies Citizenship: Cayman Islands, British West Indies Highbridge Capital Management, LLC 9 West 57th Street, 27th Floor New York, New York 10019 Citizenship: State of Delaware Glenn Dubin c/o Highbridge Capital Management, LLC 9 West 57th Street, 27th Floor New York, New York 10019 Citizenship: United States Henry Swieca c/o Highbridge Capital Management, LLC 9 West 57th Street, 27th Floor New York, New York 10019 Citizenship: United States (d) Title of Class of Securities Common Stock (e) CUSIP Number 53220KAB4 Item 3. If this statement is filed pursuant to Rule 13d-1(b), or 13d-2(b), check whether the person filing is a: (a) [X] Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o). (b) [ ] Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c). (c) [ ] Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c). (d) [ ] Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8). (e) [ ] An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E); (f) [ ] An employee benefit plan or endowment fund in accordance with Rule 13d-1(b)(1)(ii)(F); (g) [ ] A parent holding company or control person in accordance with Rule 13d-1(b)(1)(ii)(G); (h) [ ] A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) [ ] A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j) [ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(J). If this statement is filed pursuant to Rule 13d-1(c), check this box. [ ] Item 4. Ownership (a) Amount Beneficially Owned $155,250,000 aggregate principal amount of 6% Convertible Subordinated Notes due November 16, 2007 (convertible into 2,790,772 shares of the issuer's common stock (conversion rate of 161.9905 shares per $1,000 principal amount of the Notes)). /1/ (b) Percent of Class Approximately 3.64%. (Based on 73,932,315 shares of Common Stock outstanding as of October 29, 2004, plus the Reporting Person's shares of Common Stock issuable upon the conversion of the Convertible Notes.) (c) Number of shares as to which such person has: (i) sole power to vote or to direct the vote 0 (ii) shared power to vote or to direct the vote See item (a) above. (iii) sole power to dispose or to direct the disposition of 0 (iv) shared power to dispose or to direct the disposition of See item (a) above. /1/ Highbridge International LLC is a wholly owned subsidiary of Highbridge Capital Corporation. Highbridge Capital Management, LLC is the trading manager of Highbridge Capital Corporation. Highbridge Capital Management, LLC is exempt from registration as an investment adviser. Glenn Dubin is a Managing Partner of Highbridge Capital Management, LLC. Henry Swieca is a Managing Partner of Highbridge Capital Management, LLC. The persons at Highbridge Capital Management, LLC who actually exercise the power to dispose of and the power to vote the investments of Highbridge Capital Corporation are registered as registered representatives of Highbridge Capital Corporation, a registered broker/dealer. As of the date of this Schedule, the Notes reported herein by the Reporting Persons may acquire in the future through the conversion of the $155,250,000 aggregate principal amount of 6% Convertible Notes due November 16, 2007 of the Issuer, which may be converted by the Reporting Persons at any time prior to and including November 16, 2007 (the "Maturity Date") into 2,790,772 shares of the Issuer's common stock (the Notes are convertible into 161.9905 shares of common stock, par value $0.001 per share, per $1,000 principal amount of notes and subject to adjustment in certain circumstances). Based on the Issuer's latest Form 10Q filed on November 9, 2004, there were 73,932,315 shares of Common Stock outstanding as of October 29, 2004. Therefore, with the issuer's outstanding shares of Common Stock plus the Reporting Person's shares of Common Stock issuable upon the conversion of the Notes, the Reporting Persons may be deemed to beneficially own 3.64% of the outstanding shares of common stock of the Issuer. The foregoing should not be construed in and of itself as an admission by any Reporting Person as to beneficial ownership of shares of Common Stock owned by another Reporting Person. Item 5. Ownership of Five Percent or Less of a Class If this statement is being filed to report the fact that as of the date hereof the Reporting Person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following [X]. Item 6. Ownership of More than Five Percent on Behalf of Another Person. Inapplicable Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company See Item 2 above. Item 8. Identification and Classification of Members of the Group See Item 2 above. Item 9. Notice of Dissolution of Group Inapplicable Item 10. Certification By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and 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 its knowledge and belief, each of the undersigned certifies that the information with respect to it set forth in this statement is true, complete, and correct. Dated this 14th day of February, 2005 Highbridge International LLC By: /s/ Howard Feitelberg ------------------------------------- Howard Feitelberg, Director Highbridge Capital Corporation By: /s/ Howard Feitelberg ------------------------------------- Howard Feitelberg, Controller Highbridge Capital Management, LLC By: /s/ Ronald S. Resnick ------------------------------------- Ronald S. Resnick, Managing Partner /s/ Glenn Dubin - ------------------------------------- Glenn Dubin /s/ Henry Swieca - ------------------------------------- Henry Swieca Exhibit Index ------------- Exhibit Description ------- ----------- 1 Joint Filing Agreement EX-1 2 exht-am1.txt JOINT FILING AGREEMENT Exhibit 1 JOINT FILING AGREEMENT This will confirm the agreement by and among the undersigned that the Schedule 13G/A filed with the Securities and Exchange Commission on or about the date hereof with respect to the beneficial ownership by the undersigned of the Common Stock of Ligand Pharmaceuticals Incorporated is being filed, and all amendments thereto will be filed, on behalf of each of the persons and entities named below in accordance with Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. This Joint Filing Agreement shall be filed as an Exhibit to such Statement. Dated: February 14, 2005 Highbridge International LLC By: /s/ Howard Feitelberg ------------------------------------- Howard Feitelberg, Director Highbridge Capital Corporation By: /s/ Howard Feitelberg ------------------------------------- Howard Feitelberg, Controller Highbridge Capital Management, LLC By: /s/ Ronald S. Resnick ------------------------------------- Ronald S. Resnick, Managing Partner /s/ Glenn Dubin - ------------------------------------- Glenn Dubin /s/ Henry Swieca - ------------------------------------- Henry Swieca -----END PRIVACY-ENHANCED MESSAGE-----