-----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, Db10u7yYhz/ZGfUL7ck6TgEk+/ArFfTpkcceRpySlGwEoRUct0y8clS5DTOxYBVZ haYtR+UWw+fNG46+Kwvyew== 0000950136-99-001040.txt : 19990810 0000950136-99-001040.hdr.sgml : 19990810 ACCESSION NUMBER: 0000950136-99-001040 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19990809 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: TARGETED GENETICS CORP /WA/ CENTRAL INDEX KEY: 0000921114 STANDARD INDUSTRIAL CLASSIFICATION: BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES) [2836] IRS NUMBER: 911549568 STATE OF INCORPORATION: WA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D SEC ACT: SEC FILE NUMBER: 005-44887 FILM NUMBER: 99681098 BUSINESS ADDRESS: STREET 1: 1100 OLIVE WAY STREET 2: STE 100 CITY: SEATTLE STATE: WA ZIP: 98101 BUSINESS PHONE: 2066237612 MAIL ADDRESS: STREET 1: 1100 OLIVE WAY STREET 2: STE 100 CITY: SEATTLE STATE: WA ZIP: 98101 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: ELAN CORP PLC CENTRAL INDEX KEY: 0000737572 STANDARD INDUSTRIAL CLASSIFICATION: PHARMACEUTICAL PREPARATIONS [2834] IRS NUMBER: 000000000 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: LINCOLN HOUSE LINCOLN PLACE STREET 2: COUNTY WESTMEATH CITY: DUBLIN 2 IRELAND STATE: L2 BUSINESS PHONE: 3537094000 MAIL ADDRESS: STREET 1: LINCOLN HOUSE LINCOLN PLACE STREET 2: EIGHTY PINE STREET CITY: DUBLIN 2 IRELAND STATE: L2 ZIP: 00000 SC 13D 1 SCHEDULE 13D SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 SCHEDULE 13D UNDER THE SECURITIES EXCHANGE ACT OF 1934 (AMENDMENT NO. __)* TARGETED GENETICS CORPORATION - -------------------------------------------------------------------------------- (NAME OF ISSUER) COMMON STOCK - -------------------------------------------------------------------------------- (TITLE OF CLASS OF SECURITIES) 87612M108 - -------------------------------------------------------------------------------- (CUSIP NUMBER) ELAN INTERNATIONAL SERVICES, LTD. C/O BROCK SILVERSTEIN LLC 800 THIRD AVENUE, 21ST FLOOR, NEW YORK, N.Y. 10022 (212) 371-2000 - -------------------------------------------------------------------------------- ATTENTION: DAVID ROBBINS, ESQ. ------------------------------ (NAME, ADDRESS AND TELEPHONE NUMBER OF PERSON AUTHORIZED TO RECEIVE NOTICES AND COMMUNICATIONS) JULY 21, 1999 -------------------------------------------------------------- (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 sections 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. [ ] 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(b) 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 6
SCHEDULE 13D - ------------------------------------------------------------------------------------------------------------------------ CUSIP NO. 87612M108 PAGE 2 OF 6 PAGES - ------------------------------------------------------------------------------------------------------------------------ 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) Elan International Services, Ltd. - ----------------------------------------------------------------------------------------------------------------------- 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 BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) [ ] - ----------------------------------------------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Bermuda - ----------------------------------------------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES BENEFICIALLY 5,767,875 shares (assuming conversion of 12,015 shares of Series B Convertible/Exchangeable OWNED BY Preferred Stock convertible into 3,618,976 shares of Common Stock, as of July 28, 1999) EACH REPORTING PERSON ------------------------------------------------------------------------------------------------------ WITH 8 SHARED VOTING POWER - 0 - ------------------------------------------------------------------------------------------------------ 9 SOLE DISPOSITIVE POWER 5,767,875 shares ------------------------------------------------------------------------------------------------------ 10 SHARED DISPOSITIVE POWER - 0 - - ------------------------------------------------------------------------------------------------------------------------ 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 5,767,875 shares - ------------------------------------------------------------------------------------------------------------------------ 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) [ ] - ------------------------------------------------------------------------------------------------------------------------ 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 16.8% (based upon 30,677,379 shares of the Issuer outstanding as of May 3, 1999, as reported in the Issuer=s Quarterly Report on Form 10-Q for the quarter ended March 31, 1999; assumes conversion of 12,015 shares of Series B Convertible/Exchangeable Preferred Stock, but not of any other common stock equivalents) - ------------------------------------------------------------------------------------------------------------------------ 14 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) CO - ------------------------------------------------------------------------------------------------------------------------
ITEM 1. SECURITY AND ISSUER. Common Stock, par value $.01 per share (the "Common Stock") Targeted Genetics Corporation 100 Olive Way, Suite 100 Seattle, Washington 98101 ITEM 2. IDENTITY AND BACKGROUND. This Form 13-D is filed by Elan International Services, Ltd., a Bermuda corporation ("EIS"), 102 St. James Court, Flatts, Smiths Parish, FL 04, Bermuda. EIS is a wholly-owned subsidiary of Elan Corporation, plc, Lincoln House, Lincoln Place, Dublin 2, Ireland, an Irish public limited company ("Elan"). During the last five years, none of the persons named above in this Item 2: (i) has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors); or (ii) was a party to a civil proceeding of a judicial or administrative body of competent jurisdiction, as a result of which proceeding it was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, United States federal or state securities laws, or finding any violation with respect to such laws. ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION. On July 21, 1999, pursuant to the terms of a letter agreement dated June 30, 1999, by and among Elan and EIS on the one hand, and Targeted Genetics Corporation, a Washington corporation (the "Issuer"), on the other hand, EIS acquired (a) 2,148,899 shares (the "Initial Shares") of Common Stock, and (b) 12,015 shares of Series B Convertible/Exchangeable Preferred Stock (the "Series B Preferred," and together with the Initial Shares, the "Securities") of the Issuer for aggregate consideration of $17,015,000. The Series B Preferred pays for six years dividends of 7% of its issue price through the issuance of additional shares of Common Stock of the Issuer upon conversion of the Series B Preferred. As of July 28, 1999, the Series B Preferred, together with dividends thereon, was convertible into 3,618,976 shares of Common Stock. ITEM 4. PURPOSE OF TRANSACTION. EIS acquired the Securities for investment purposes. Except as set forth above, neither EIS nor Elan has a plan or proposal which relates to or would result in: (a) The acquisition by any person of additional securities of the Issuer, or the disposition of securities of the Issuer; (b) An extraordinary corporate transaction such as a merger, reorganization or liquidation involving the Issuer or any of its subsidiaries; (c) A sale or transfer of a material amount of assets of the Issuer or any of its subsidiaries; (d) Any change in the present Board of Directors or management of the Issuer, including any plans or proposals to change the number of or term of Directors or to fill any existing vacancies on the Board; (e) Any material change in the present capitalization or dividend policy of the Issuer; (f) Any other material change in the Issuer=s business or corporate structure; (g) Changes in the Issuer's charter, by-laws, or instruments corresponding thereto or other actions Page 3 of 6 which may impede the acquisition of control of the Issuer by any person; (h) Causing the Common Stock to cease to be authorized to be traded on The Nasdaq Stock Market, Inc. (i) To have the Common Stock terminated from registration under the Securities Act of 1933; or (j) Any action similar to any of those enumerated above. ITEM 5. INTEREST IN THE SECURITIES OF THE ISSUER. (a) 5,767,875 shares of Common Stock, representing 16.8% (based upon 30,677,379 shares of the Issuer outstanding as of May 3, 1999, as reported in the Issuer's Quarterly Report on Form 10-Q for the quarter ended March 31, 1999 and 3,618,976 shares of Common Stock reserved for issuance on conversion of the Series B Preferred). (b) sole power to vote: 5,767,875 shares shared power to vote: -0- sole power to dispose: 5,767,875 shares shared power to dispose: -0- (c) None. (d) None. (e) Not Applicable. ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER. Not Applicable. ITEM 7. MATERIAL TO BE FILED AS EXHIBITS. 1. Securities Purchase Agreement, dated July 21, 1999* - -------------- * Incorporated by reference to the Issuer's Current Report on Form 8-K dated August 4, 1999 (Commission File No. 000-23930) Page 4 of 6 SIGNATURES After reasonable inquiry and to the best of my knowledge and belief, the undersigned certifies that the information set forth in this statement is true, complete and correct. Date: August 9, 1999 Elan International Services, Ltd. By: /s/ Kevin Insley ------------------------------- Kevin Insley President Page 5 of 6 EXHIBIT INDEX 1. Securities Purchase Agreement, dated July 21, 1999.* - -------------- * Incorporated by reference to the Issuer's Current Report on Form 8-K dated August 4, 1999 (Commission File No. 000-23930)
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