U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 4
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
[ ] Check box if no longer subject to Section 16. Form 4 or Form 5 obligations
may continue. See Instruction 1(b).
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1. Name and Address of Reporting Person*
Feinberg, Larry N.
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(Last) (First) (Middle)
c/o Oracle Strategic Partners, L.P.
200 Greenwich Avenue, 3rd Floor
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(Street)
Greenwich, CT 06830
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(City) (State) (Zip)
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2. Issuer Name and Ticker or Trading Symbol
Halsey Drug Co., Inc. ("HDGC")
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3. IRS Identification Number of Reporting Person, if an Entity (Voluntary)
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4. Statement for Month/Year
October, 2001
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5. If Amendment, Date of Original (Month/Year)
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6. Relationship of Reporting Person to Issuer
(Check all applicable)
[ ] Director [X] 10% Owner
[ ] Officer (give title below) [ ] Other (specify below)
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7. Individual or Joint/Group Filing (Check applicable line)
[X] Form filed by one Reporting Person
[ ] Form filed by more than one Reporting Person
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Table I -- Non-Derivative Securities Acquired, Disposed of,
or Beneficially Owned
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6.
4. 5. Owner-
Securities Acquired (A) or Amount of ship
3. Disposed of (D) Securities Form: 7.
Transaction (Instr. 3, 4 and 5) Beneficially Direct Nature of
2. Code ------------------------------- Owned at End (D) or Indirect
1. Transaction (Instr. 8) (A) of Month Indirect Beneficial
Title of Security Date ------------ Amount or Price (Instr. 3 (I) Ownership
(Instr. 3) (mm/dd/yy) Code V (D) and 4) (Instr.4) (Instr. 4)
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* If the Form is filed by more than one Reporting Person, see Instruction
4(b)(v).
Reminder: Report on a separate line for each class of securities beneficially
owned directly or indirectly.
(Print or Type Response) (Over)
FORM 4 (continued)
Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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10.
9. Owner-
Number ship
of Form
2. Deriv- of
Conver- 5. 7. ative Deriv- 11.
sion Number of Title and Amount Secur- ative Nature
or Derivative 6. of Underlying 8. ities Secur- of
Exer- 4. Securities Date Securities Price Bene- ity: In-
cise 3. Trans- Acquired (A) Exercisable and (Instr. 3 and 4) of ficially Direct direct
Price Trans- action or Disposed Expiration Date ---------------- Deriv- Owned (D) or Bene-
1. of action Code of(D) (Month/Day/Year) Amount ative at End In- ficial
Title of Deriv- Date (Instr. (Instr. 3, ---------------- or Secur- of direct Owner-
Derivative ative (Month/ 8) 4 and 5) Date Expira- Number ity Month (I) ship
Security Secur- Day/ ------ ------------ Exer- tion of (Instr. (Instr. (Instr. (Instr.
(Instr. 3) ity Year) Code V (A) (D) cisable Date Title Shares 5) 4) 4) 4)
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5% Convertible $2.22 10/1/01 J(2) 1 Immed. 3/15/03 Common 60,663 See Note 7,905,577 I See
Senior Secured Stock (2) under Note
Debentures Explana- (1)
tion of under
Responses Expla-
Below. nation
of Re-
sponses
Below
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Common Stock NONE 2,020,200 I See
Purchase Note
Warrants (1)
under
Expla-
nation
of Re-
sponses
Below
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Stock Options NONE 10,000 I See
Note
(1)
under
Expla-
nation
of Re-
sponses
Below
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Explanation of Responses:
(1) The 5% Convertible Senior Secured Debentures ("Debentures"), Common Stock
Purchase Warrants ("Warrants") and Stock Options ("Options") of Halsey Drug
Co., Inc. ("Halsey") to which this note relates are held directly by Oracle
Strategic Partners, L.P. ("Strategic Partners"). The Debentures, Warrants
and Options are presently convertible into 7,905,577 shares of Common
Stock, 2,020,200 shares of Common Stock, and 10,000 shares of Common Stock
of Halsey, respectively. Oracle Strategic Capital, L.L.C. ("Strategic
Capital") serves as the general partner of Strategic Partners. The
undersigned is the managing member of Strategic Capital. The undersigned
does not directly own any Debentures, Warrants, Options or Common Stock of
Halsey. In accordance with Instruction 4(b)(iv), the entire number of
shares of Debentures, Warrants and Options held by Strategic Partners is
reported herein. The undersigned disclaims any beneficial ownership of the
securities to which this Form 4 relates for purposes of Section 16 of the
Securities Exchange Act of 1934, except as to such securities representing
the undersigned's pro rata interest in, and interest in the profits of,
Strategic Partners.
(2) The Debenture to which this note relates, in the principal amount of
$134,672, was received as interest payment in pre-existing Debentures held
by Strategic Partners. The Debenture to which this note relates is
presently convertible into 60,663 shares of Common Stock of Halsey,
reflecting a conversion price of $2.22 per share of Common Stock. Interest
on all the Debentures held by Strategic Partners are paid quarterly on each
January 1, April 1, July 1 and October 1.
/s/ Larry N. Feinberg November 13, 2001
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**Signature of Reporting Person Date
Larry N. Feinberg,
as managing member of
Oracle Strategic Capital, L.L.C.,
the general partner of
Oracle Strategic Partners, L.P.
** Intentional misstatements or omissions of facts constitute Federal
Criminal Violations.
See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed.
If space provided is insufficient, see Instruction 6 for procedure.
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