-----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, Fg1VH2F3R1hkbdcBMYx8OwtU1MNlLU3Mm5d+SZ2LR+45UvGLuYQaXm1j1+PdOqkh N8kwLl/ZUFHrQnN+TXCI/g== 0000950120-00-000009.txt : 20000202 0000950120-00-000009.hdr.sgml : 20000202 ACCESSION NUMBER: 0000950120-00-000009 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20000110 GROUP MEMBERS: BRUCE F. WESSON GROUP MEMBERS: DAVID JAHNS GROUP MEMBERS: GALEN EMPLOYEE FUND III, L.P. GROUP MEMBERS: GALEN PARTNERS III L P GROUP MEMBERS: GALEN PARTNERS III, L.P. GROUP MEMBERS: GALEN PARTNERS INTERNATIONAL III, L.P. GROUP MEMBERS: L. JOHN WILKERSON GROUP MEMBERS: SRINI CONJEEVARAM GROUP MEMBERS: WILLIAM R. GRANT GROUP MEMBERS: ZUBEEN SCHROFF SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: DERMA SCIENCES INC CENTRAL INDEX KEY: 0000892160 STANDARD INDUSTRIAL CLASSIFICATION: PHARMACEUTICAL PREPARATIONS [2834] IRS NUMBER: 232328753 STATE OF INCORPORATION: PA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: SEC FILE NUMBER: 005-52013 FILM NUMBER: 504000 BUSINESS ADDRESS: STREET 1: 214 CARNEGIE CENTER, SUITE 100 CITY: PRINCETON STATE: NJ ZIP: 08540 BUSINESS PHONE: 6095144744 MAIL ADDRESS: STREET 1: 214 CARNEGIE CENTER, SUITE 100 CITY: PRINCETON STATE: NJ ZIP: 08540 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: GALEN PARTNERS III L P CENTRAL INDEX KEY: 0001034486 STANDARD INDUSTRIAL CLASSIFICATION: [] IRS NUMBER: 133930452 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 610 FIFTH AVE STREET 2: 5TH FL CITY: NEW YORK STATE: NY ZIP: 10020 BUSINESS PHONE: 2122184990 MAIL ADDRESS: STREET 1: 610 FIFTH AVE STREET 2: 5TH FL CITY: NEW YORK STATE: NY ZIP: 10020 SC 13D/A 1 AMENDMENT NO. 3 TO SCHEDULE 13D UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON D.C. 20549 AMENDMENT NO. 3 TO SCHEDULE 13D UNDER THE SECURITIES EXCHANGE ACT OF 1934 DERMA SCIENCES, INC. -------------------- (Name of Issuer) COMMON STOCK, $.01 PAR VALUE PER SHARE -------------------------------------- (Title of Class of Securities) 249827106 ---------------- (CUSIP Number) Bruce F. Wesson Senior Managing Member Claudius, L.L.C. 610 Fifth Avenue, 5th Floor New York, NY 10020 (212) 218-4990 - ------------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) DECEMBER 29, 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 Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box [ ]. Note: Schedules filed in paper format shall include a signed original and five copies with the schedule, including all exhibits. See Rule 13d-7(b) for other parties to whom copies are to be sent. 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, as amended (the "Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all provisions of the Act (however, see the Notes). Page 1 of 9 Pages Page 2 of 9 of the initial Schedule 13D pertaining to the Common Shares of Derma Sciences, Inc., a Pennsylvania corporation, filed with the Securities and Exchange Commission ("SEC") on February 6, 1998 for an event on January 23, 1998 and subsequently amended on September 18, 1998 by Amendment No. 1 and on August 24, 1999 by Amendment No.2, is hereby further amended to read in its entirety as follows: SCHEDULE 13D - ------------------------------------------------------------------------------- CUSIP NO. 249827106 PAGE 2 OF 9 PAGES ------------- --- --- - ------------------------------------------------------------------------------- - ------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Galen Partners III, L.P. - ------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a)[ ] (b)[X] - ------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------------------------------------------------------------------------- 4 SOURCE OF FUNDS 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 Delaware - ------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES 2,299,985 (see Item 5(a)) ----------------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER OWNED BY 0 ----------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING 2,299,985 ----------------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER 0 - ------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 2,299,985 - ------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] - ------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 59.7% - ------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON PN - ------------------------------------------------------------------------------- 2 Page 3 of 9 of the Schedule 13D, as amended, is hereby further amended to read in its entirety as follows: SCHEDULE 13D - ------------------------------------------------------------------------------- CUSIP NO. 249827106 PAGE 3 OF 9 PAGES ------------- --- --- - ------------------------------------------------------------------------------- - ------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Galen Partners International III, L.P. - ------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [X] - ------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------------------------------------------------------------------------- 4 SOURCE OF FUNDS 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 Delaware - ------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES 214,057 (see Item 5(a)) ----------------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER OWNED BY 0 ----------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING 214,057 ----------------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER 0 - ------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 214,057 - ------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] - ------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 5.5% - ------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON PN - ------------------------------------------------------------------------------- 3 Page 4 of 9 of the Schedule 13D, as amended, is hereby further amended to read in its entirety as follows: SCHEDULE 13D - ------------------------------------------------------------------------------- CUSIP NO. 249827106 PAGE 4 OF 9 PAGES ------------- --- --- - ------------------------------------------------------------------------------- - ------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON Galen Employee Fund III, L.P. - ------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [X] - ------------------------------------------------------------------------------- 3 SEC USE ONLY - ------------------------------------------------------------------------------- 4 SOURCE OF FUNDS 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 Delaware - ------------------------------------------------------------------------------- NUMBER OF 7 SOLE VOTING POWER SHARES 9,685 (see Item 5(a)) ----------------------------------------------------------- BENEFICIALLY 8 SHARED VOTING POWER OWNED BY 0 ----------------------------------------------------------- EACH 9 SOLE DISPOSITIVE POWER REPORTING 9,685 ----------------------------------------------------------- PERSON WITH 10 SHARED DISPOSITIVE POWER 0 - ------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 9,685 - ------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [ ] - ------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 0.25% - ------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON PN - ------------------------------------------------------------------------------- 4 The first paragraph of Item 1 of the Schedule 13D is hereby amended to read in its entirety as follows: "This statement covers a total of 2,523,727 fully diluted shares of Common Stock, $.01 par value per share (the "Common Stock"), of Derma Sciences, Inc., a Pennsylvania corporation (the "Issuer"). The Reporting Persons (as defined in Item 2 hereof) as of the date hereof hold an aggregate of (i) 125,000 shares of Series A Convertible Preferred Stock, $.01 par value per share, of the Issuer (the "Series A Preferred Shares"), which as of the date hereof are convertible into an aggregate of 125,000 shares of Common Stock, (ii) 416,667 shares of Series B Convertible Preferred Stock, $.01 par value per share, of the Issuer (the "Series B Preferred Shares"), which as of the date hereof are convertible into an aggregate of 416,667 shares of Common Stock, (iii) Convertible Bonds due August 15, 2000 (the "August 15 Convertible Bonds") which are presently convertible into (x) 300,752 shares of Series C Convertible Preferred Stock, $0.01 par value per share (the "Series C Preferred Shares"), which as of the date hereof would be presently convertible into an aggregate of 300,752 shares of Common Stock and (y) 300,752 warrants which as of the date hereof would be presently exercisable for an aggregate of 300,752 shares of Common Stock, (iv) Convertible Bonds due December 31, 2000 (the "December 31 Convertible Bonds") which are presently convertible into (x) 444,444 shares of Series D Convertible Preferred Stock, $0.01 par value per share (the "Series D Preferred Shares"), which as of the date hereof, would be presently exercisable for an aggregate of 444,444 shares of Common Stock and (y) 444,444 warrants which as of the date hereof, would be presently exercisable for an aggregate of 444,444 shares of Common Stock and (v) 2,458,334 warrants (together with the warrants in clauses (iii) and (iv) above, the "Warrants"), which as of the date hereof may be exercised for an aggregate of 491,667 shares of Common Stock. The Common Stock, Series A Preferred Shares, Series B Preferred Shares, August 15 Convertible Bonds, Series C Preferred Shares, December 31 Convertible Bonds, Series D Preferred Shares and Warrants are referred to herein, collectively, as the "Securities". The second paragraph of Item 3 of the Initial Schedule 13D is hereby amended to read in its entirety as follows: 5 "75,000 of the Series A Preferred Shares and the 75,000 of the Warrants were acquired by the Reporting Persons through the conversion, effected on or about January 23, 1998, of certain Convertible Debentures due 1998 of the Issuer ("The Series A Debentures"). The Reporting Persons acquired Series A Debentures in an aggregate principal amount of $300,000 for $300,000 in cash. The remaining 50,000 shares of the Series A Preferred Shares were acquired through converting 50,000 shares of Common Stock, which were previously acquired by the Reporting Persons at a purchase price of $5.00 per share for an aggregate amount of $250,000 in cash, into an equal number of shares of Series A Preferred Stock. The Series B Preferred Shares and 2,083,334 of the Warrants were acquired by the Reporting Persons through the conversion, effected on or about September 9, 1998, of certain Convertible Debentures due 1998 of the Issuer ("The Series B Debentures"). The Reporting Persons acquired Series B Debentures in an aggregate principal amount of $2,500,000 for $2,500,000 in cash. The Reporting Persons acquired the August 15 Convertible Bonds in an aggregate principal amount of $400,000 for $400,000 in cash. The Reporting Persons acquired the December 31 Convertible Bonds in an aggregate principal amount of $450,000 for $450,000 in cash. Each Reporting Person paid its pro rata share of the acquisition price of the Securities based upon the number of Common Shares, Series A Preferred Shares, Series B Preferred Shares, August 15 Convertible Bonds, December 31 Convertible Bonds and Warrants it received." Item 5, subpart (a) of the Initial Schedule 13D is hereby amended to read in its entirety as follows: 6 (a) Each Reporting Person owns or has the right to acquire the number of securities shown opposite its name:
- -------------------------------------------------------------------------------------------------------- (1) (2) (3) (4) (5) - -------------------------------------------------------------------------------------------------------- Number of Shares of Common Stock into which Series A, Series B, Number of Shares of Series C and Common Stock which Percentage of Series D Preferred may be acquired Outstanding Shares Stock is pursuant to Total of Columns of Common Stock Reporting Person Convertible exercise of Warrants (2) and (3) (see Note below) - -------------------------------------------------------------------------------------------------------- Galen 1,172,696 1,127,289 2,299,985 59.7% - -------------------------------------------------------------------------------------------------------- Galen Intl 109,226 104,831 214,057 5.5% - -------------------------------------------------------------------------------------------------------- GEF 4,942 4,743 9,685 0.25% - -------------------------------------------------------------------------------------------------------- Total 1,286,864 1,236,863 2,523,727 65.45% - --------------------------------------------------------------------------------------------------------
Note: The percentages shown in each row of column (5) were calculated, for each respective row, by (i) adding the total in the bottom row of column (4) to 1,325,938 (the number of shares of Common Stock outstanding as of September 30, 1999, as set forth in the Issuer's Quarterly Report on Form 10-QSB for the quarter then ended after giving effect to the Issuer's 1-for-5 reverse stock split which became effective on August 2, 1999) (the "Total Adjusted Outstanding Shares"), then (ii) dividing the amount in column (4) by the Total Adjusted Outstanding Shares, and then (iii) expressing such quotient in terms of a percentage. 7 SIGNATURE --------- After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in the statement is true, complete and correct. Date: January 7, 2000 GALEN PARTNERS III, L.P. By: Claudius, L.L.C. By: /s/ Bruce F. Wesson -------------------------- Managing Member GALEN PARTNERS INTERNATIONAL III, L.P. By: Claudius, L.L.C By: /s/ Bruce F. Wesson -------------------------- Managing Member GALEN EMPLOYEE FUND III, L.P. By: Wesson Enterprises, Inc By: /s/ Bruce F. Wesson -------------------------- President [Signatures continued on next page.] 8 CLAUDIUS, L.L.C. By: /s/ Bruce F. Wesson -------------------------- Managing Member WESSON ENTERPRISES, INC. By: /s/ Bruce F. Wesson -------------------------- President WILLIAM R. GRANT By: /s/ Bruce F. Wesson -------------------------- Bruce F. Wesson, Attorney-In-Fact BRUCE F. WESSON /s/ Bruce F. Wesson -------------------------- Bruce F. Wesson, Attorney-In-Fact L. JOHN WILKERSON By: /s/ Bruce F. Wesson -------------------------- Bruce F. Wesson, Attorney-In-Fact DAVID JAHNS By: /s/ Bruce F. Wesson -------------------------- Bruce F. Wesson, Attorney-In-Fact SRINI CONJEEVARAM By: /s/ Bruce F. Wesson -------------------------- Bruce F. Wesson, Attorney-In-Fact ZUBEEN SHROFF By: /s/ Bruce F. Wesson -------------------------- Bruce F. Wesson, Attorney-In-Fact 9 -----END PRIVACY-ENHANCED MESSAGE-----