-----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, FlXUtQTFz+7iXBhpJyMG5HN2Hx9xXCQG1wVgwJtL8+U7I9cWlUCEcXwjz2CcfmpK 7bQw6TSeFTPvqLJv1Oa89A== 0000950162-02-000432.txt : 20020415 0000950162-02-000432.hdr.sgml : 20020415 ACCESSION NUMBER: 0000950162-02-000432 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20020325 GROUP MEMBERS: PAOLO CAVAZZA FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: CAVAZZA CLAUDIO CENTRAL INDEX KEY: 0001164803 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: VIA SUDAFRICA 20 CITY: ROME ITALY STATE: L6 ZIP: 00000 MAIL ADDRESS: STREET 1: VIA SUDAFRICA 20 CITY: ROME ITALY STATE: L6 ZIP: 00000 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: QUESTCOR PHARMACEUTICALS INC CENTRAL INDEX KEY: 0000891288 STANDARD INDUSTRIAL CLASSIFICATION: PHARMACEUTICAL PREPARATIONS [2834] IRS NUMBER: 330476164 STATE OF INCORPORATION: CA FISCAL YEAR END: 0731 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-43062 FILM NUMBER: 02584716 BUSINESS ADDRESS: STREET 1: 26118 RESEARCH ROAD CITY: HAYWARD STATE: CA ZIP: 94545 BUSINESS PHONE: 5107325551 MAIL ADDRESS: STREET 1: 26118 RESEARCH ROAD CITY: HAYWARD STATE: CA ZIP: 94545 FORMER COMPANY: FORMER CONFORMED NAME: CYPROS PHARMACEUTICAL CORP DATE OF NAME CHANGE: 19930328 SC 13D/A 1 questcor13da032502.txt AMENDMENT NO. 2 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Amendment No.2 Under the Securities Exchange Act of 1934 QUESTCOR PHARMACEUTICALS INC. - -------------------------------------------------------------------------------- (Name of Issuer) Common Stock - -------------------------------------------------------------------------------- (Title of Class of Securities) 232808105 - -------------------------------------------------------------------------------- (CUSIP Number) John P. Mitchell, Esq. Cahill Gordon & Reindel 80 Pine Street, New York, NY 10005 (212) 701-3000 - -------------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) March 15, 2002 - -------------------------------------------------------------------------------- (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 ss.240.13d-1(e), 240.13d-1(f) or 240.13d-(1)(g), check the following box / /. *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). / / SCHEDULE 13D - -------------------------------------------------------------------------------- CUSIP No. 232808105 - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS Claudio Cavazza - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) / / (b) / / - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS PF, AF - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) / / - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Italy - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF 2,656,781 SHARES ------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER OWNED BY 10,197,913 EACH REPORTING ------------------------------------------------- PERSON WITH 9 SOLE DISPOSITIVE POWER 2,656,781 10 SHARED DISPOSITIVE POWER 10,197,913 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 12,854,694 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES / / - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 31.24% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON IN SCHEDULE 13D - -------------------------------------------------------------------------------- CUSIP No. 232808105 - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS Paolo Cavazza - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) / / (b) / / - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS PF, AF - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) OR 2(e) / / - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Italy - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF 2,656,782 SHARES ------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER OWNED BY 10,542,013 EACH REPORTING ------------------------------------------------- PERSON WITH 9 SOLE DISPOSITIVE POWER 2,656,782 10 SHARED DISPOSITIVE POWER 10,542,013 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 13,198,795 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES / / - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 32.07% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON IN Item 1. Security and Issuer. The class of equity securities to which this statement on Schedule 13D Amendment No. 2 (this "Statement") relates is the common stock, no par value (the "Common Stock"), of Questcor Pharmaceuticals Inc., a California corporation ("Questcor"). The principal executive offices of Questcor are located at 3620 Whipple Road, Union City, California, 94587. Item 2. Identity and Background. This Statement is being filed jointly on behalf of Mr. Claudio Cavazza ("Mr. C. Cavazza") and Mr. Paolo Cavazza ("Mr. P. Cavazza", and collectively with Mr. C. Cavazza, the "Reporting Parties"). The business address of the Reporting Parties is Via Sudafrica, 20, 00144 Rome, Italy. Mr. C Cavazza's principal occupation is as an entrepreneur in the pharmaceutical business. Mr. P. Cavazza's principal occupation is as an entrepreneur in the pharmaceutical business. The Reporting Parties have not been, during the last five years, (a) convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or (b) a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is 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. The Reporting Parties are citizens of Italy. Item 3. Source and Amount of Funds or Other Consideration. The reporting parties acquired beneficial ownership of 2,025,315 shares of Common Stock pursuant to a Securities Purchase Agreement dated March 15, 2002 (the "Agreement") by and between Questcor and Defiante Farmaceutica Unipessoal L.D.A. ("Defiante"). Sigma Tau Finanzari SpA ("Sigma Tau") owns 100% of the capital stock of Defiante. Mr. C. Cavazza owns 60% of Sigma Tau and Mr. P. Cavazza owns 40% of Sigma Tau. Pursuant to the Agreement, Questcor issued to Defiante an 8% Convertible Debenture in the principal sum of $2,000,000 (the "Debenture") and a Warrant to purchase 759,493 shares of Common Stock (the "Warrant", and together with the Debenture, the "Securities") in exchange for $2,000,000). The Debenture is convertible at any time prior to maturity into shares of Common Stock at a conversion price of $1.58. As of March 15, 2002 the Debenture was convertible into 1,265,822 shares of Common Stock. At Questcor's option, they may repay the Debenture at maturity by delivering freely tradeable, registered shares of Common Stock to Defiante. The funds necessary to purchase the Securities were obtained from the from working capital of Defiante. In addition, as of February 27, 2002, Mr. P. Cavazza had beneficial ownership of the following shares of Common Stock through his ownership of Aptafin S.p.A. ("Aptafin"): - -------------------------------------------------------------------------- Date of Purchase Amount Price per share - -------------------------------------------------------------------------- 12/04/01 4,700 $1.180 - -------------------------------------------------------------------------- 12/04/01 10,000 $1.200 - -------------------------------------------------------------------------- 12/04/01 10,000 $1.240 - -------------------------------------------------------------------------- 12/05/01 1,800 $1.180 - -------------------------------------------------------------------------- 12/06/01 10,000 $1.220 - -------------------------------------------------------------------------- 12/10/01 10,000 $1.150 - -------------------------------------------------------------------------- 12/18/01 10,000 $1.600 - -------------------------------------------------------------------------- 01/09/02 10,000 $1.800 - -------------------------------------------------------------------------- 01/10/02 10,000 $1.850 - -------------------------------------------------------------------------- 01/15/02 10,000 $1.700 - -------------------------------------------------------------------------- 01/16/02 10,000 $1.600 - -------------------------------------------------------------------------- 01/17/02 9,200 $1.900 - -------------------------------------------------------------------------- 01/17/02 800 $1.880 - -------------------------------------------------------------------------- 01/30/02 10,000 $1.900 - -------------------------------------------------------------------------- 02/04/02 1,200 $1.700 - -------------------------------------------------------------------------- 02/04/02 10,000 $1.700 - -------------------------------------------------------------------------- 02/04/02 10,000 $1.800 - -------------------------------------------------------------------------- 02/04/02 10,000 $1.800 - -------------------------------------------------------------------------- 02/05/02 8,800 $1.700 - -------------------------------------------------------------------------- 02/08/02 10,000 $1.650 - -------------------------------------------------------------------------- 02/14/02 10,000 $1.700 - -------------------------------------------------------------------------- 02/27/02 2,500 $1.260 - -------------------------------------------------------------------------- 02/27/02 1,200 $1.280 - -------------------------------------------------------------------------- Between December 27, 2001 and January 3, 2002 Aptafin disposed of 34,600 shares of Common Stock. Profits obtained in these sales have been returned to Questcor pursuant to Section 16(b) of the Exchange Act of 1934. Mr. P Cavazza owns 55% of Aptafin. Relatives of Mr. P. Cavazza own the remaining 45% of Aptafin. The funds necessary to purchase such Common Stock were obtained from the working capital of Aptafin. All such transactions were made on the American Stock Exchange. Item 4. Purpose of the Transaction. The purpose of the transactions was to acquire an equity investment interest in the Issuer. None of the Reporting Parties has any present plans or proposals which relate to or would result in any transaction, change or event specified in clauses (a) through (j) of Item 4 of Schedule 13D. Item 5. Interest in Securities of Questcor. (a) The number of Common Shares as to which Mr. C. Cavazza has the sole power to vote or direct the vote is 2,656,781. The number of Common Shares as to which Mr. C. Cavazza shares the power to vote or direct the vote is 10,197,913. The number of Common Shares as to which Mr. C. Cavazza has the sole power to dispose or direct the disposition is 2,656,781. The number of Common Shares as to which Mr. C. Cavazza shares the power to dispose or direct the disposition is 10,197,913. (b) The number of Common Shares as to which Mr. P. Cavazza has the sole power to vote or direct the vote is 2,656,782. The number of Common Shares as to which Mr. P. Cavazza shares the power to vote or direct the vote is 10,542,013. The number of Common Shares as to which Mr. P. Cavazza has the sole power to dispose or direct the disposition is 2,656,782. The number of Common Shares as to which Mr. P. Cavazza shares the power to dispose or direct the disposition is 10,542,013. Except as set forth above, none of the Reporting Parties beneficially owns any other shares of Common Stock. Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of Questcor. Pursuant to the Agreement Questcor and Defiante entered into a Registration Rights Agreement dated March 15, 2002. Questcor has agreed to file a registration statement covering the resale of not less than 2,025,316 shares of Common Stock issuable upon (i) the conversion of the Debenture and (ii) exercise of the Warrant for an offering to made on a continuous basis pursuant to Rule 415. The Company is obligated to pay all expenses incurred in connection with such registration. The Company has agreed to indemnify Defiante and related persons against certain liabilities under the securities laws in connection with the sale of securities under such registrations. Except as set forth in this Statement, to the best knowledge of the Reporting Parties there are no other contracts, arrangements, understandings or relationships (legal or otherwise) among the persons named in Item 2 and between such persons and any person with respect to any securities of Questcor, including but not limited to, transfer or voting of any of the securities of Questcor, finders fees, joint ventures, loan or options arrangements, puts or calls, guarantees of profits, division of profits or loss, or the giving or withholding of proxies, or a pledge or contingency the occurrence of which would give another person voting power over the securities of Questcor. Item 7. Material to be Filed as Exhibits. A. Joint Filing Agreement dated December 12, 2001 by and among the Reporting Parties. Signatures After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement with respect to Claudio Cavazza is true, complete and correct. Dated: March 25, 2002 Claudio Cavazza By: /s/ Claudio Cavazza ------------------------------------------------ Name: Claudio Cavazza After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement with respect to Paolo Cavazza is true, complete and correct. Dated: March 25, 2002 Paolo Cavazza By: /s/ Paolo Cavazza ------------------------------------------------ Name: Paolo Cavazza 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. Attention: Intentional misstatements or omissions of fact constitute Federal criminal violations (See 18 U.S.C. 1001) EXHIBIT A JOINT FILING AGREEMENT The undersigned hereby agree that the statement on Schedule 13D Amendment No. 1 with respect to the Common Stock of Questcor Pharmaceuticals, Inc. dated as of December 12, 2001 is, and any amendments thereto (including amendments on Schedule 13D) signed by each of the undersigned shall be, filed on behalf of each of us pursuant to and in accordance with the provisions of Rule 13d-1(f) under the Securities Exchange Act of 1934. Dated: December 12, 2001 CLAUDIO CAVAZZA By: /s/ Claudio Cavazza -------------------------------------------- Name: Claudio Cavazza PAOLO CAVAZZA Dated: December 12, 2001 By: /s/ Paolo Cavazza --------------------------------------------- Name: Paolo Cavazza -----END PRIVACY-ENHANCED MESSAGE-----