FORM 4 OMB APPROVAL - -------------------- ------------------------------ [ ] Check this box if no longer subject to Section OMB Number: 3235-0287 16. Form 4 or Form 5 obligations may Expires: December 31, 2001 continue. See Instruction 1(b). Estimated average burden hours per response 0.5 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 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 - ----------------------------------------- -------------------------------------------- --------------------------------------------- 1. Name and Address of Reporting Person* 2. Issuer Name and Ticker or Trading Symbol 6. Relationship of Reporting Person(s) to Issuer (Check all applicable) Feinberg, Larry N. Halsey Drug Co., Inc. ("HDGC") - ----------------------------------------- -------------------------------------------- (Last) (First) (Middle) 3. IRS or Social 4. Statement for [ ] Director [X] 10% Owner Security Number Month/Year [ ] Officer (give [ ] Other (specify of Reporting title below) below) c/o Oracle Strategic Partners, L.P. Person July, 2001 200 Greenwich Avenue, 3rd Floor (Voluntary) - ----------------------------------------- ------------------------- --------------------------------------------- (Street) 5. If Amendment, Date of 7. Individual or Joint/Group Filing Original (Month/Year) (Check Applicable Line) [X] Form filed by One Reporting Person [ ] Form filed by More than One Reporting Greenwich, CT 06830 Person - ----------------------------------------- ------------------ ------------------------- --------------------------------------------- (City) (State) (Zip)
- ------------------------------------------------------------------------------------------------------------------------------------ Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned - ------------------------------------------------------------------------------------------------------------------------------------ 1. Title of Security (Instr. 3) 2. Trans- 3. Trans- 4. Securities Acquired (A) 5. Amount of 6. Owner- 7. Nature action action or Disposed of (D) Securities ship of In- Date Code (Instr. 3, 4 and 5) Beneficially Form: direct (Instr. 8) Owned at Direct Bene- (Month/ End of (D) or ficial Day/ Month Indirect Owner- Year) (Instr. 3 (I) ship and 4) (Instr. 4) (Instr. 4) ------------ --------------------------- Code V Amount (A) or (D) Price - --------------------------------- ------------- ------ --- ------ ---------- ------- ----------------- ------------ ------------ - --------------------------------- ------------- ------ --- ------ ---------- ------- ----------------- ------------ ------------ - --------------------------------- ------------- ------ --- ------ ---------- ------- ----------------- ------------ ------------ - --------------------------------- ------------- ------ --- ------ ---------- ------- ----------------- ------------ ------------ - --------------------------------- ------------- ------ --- ------ ---------- ------- ----------------- ------------ ------------ - --------------------------------- ------------- ------ --- ------ ---------- ------- ----------------- ------------ ------------ Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. (Over) *If the form is filed by more than one reporting person, see Instruction 4(b)(v).
FORM 4 (continued) Table II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) - --------------------------------------------------------------------------------------------------------------------------- 1. Title of 2. Conver- 3.Trans- 4. Transac- 5. Number of 6. Date Exer- 7. Title and Amount of Derivative sion or action tion Code Derivative cisable and Underlying Securities Security Exercise Date (Instr. 8) Securities Expiration (Instr. 3 and 4) (Instr. 3) Price of (Month/ Acquired (A) Date (Month/ Derivative Day/ or Disposed Day/Year) Security Year) of (D) (Instr.3, 4, and 5) Code V (A) (D) Date Expira- Amount or Exer- tion Title Number of cisable Date Shares - --------------------- -------------- ---------- ------ ------ ------ --------- -------- --------- ----------- ------------- 5% Convertible Senior $2.22 7/1/01 J(2) 1 Immed. 3/15/03 Common 59,914 Secured Debentures Stock - --------------------- -------------- ---------- ------ ------ ------ --------- -------- --------- ----------- ------------- Common Stock Purchase NONE Warrants - --------------------- -------------- ---------- ------ ------ ------ --------- -------- --------- ----------- ------------- Stock Options NONE - --------------------- -------------- ---------- ------ ------ ------ --------- -------- --------- ----------- ------------- - --------------------- -------------- ---------- ------ ------ ------ --------- -------- --------- ----------- ------------- - --------------------- -------------- ---------- ------ ------ ------ --------- -------- --------- ----------- ------------- - --------------------- -------------- ---------- ------ ------ ------ --------- -------- --------- ----------- ------------- - --------------------- -------------- ---------- ------ ------ ------ --------- -------- --------- ----------- ------------- - --------------------- -------------- ---------- ------ ------ ------ --------- -------- --------- ----------- ------------- - --------------------- -------------- ---------- ------ ------ ------ --------- -------- --------- ----------- ------------- - --------------------- -------------- ---------- ------ ------ ------ --------- -------- --------- ----------- ------------- - --------------------- -------------- ---------- ------ ------ ------ --------- -------- --------- ----------- ------------- - --------------------- -------------- ---------- ------ ------ ------ --------- -------- --------- ----------- -------------
[CONTINUATION OF THE ABOVE CHART] - -------------------------------------------------------------------- 8. Price of 9. Number 10. Owner- 11. Nature Derivative of Deriv- ship of In- Security ative Form direct (Instr. 5) Secur- of De- Bene- ities rivative ficial Bene- Secu- Owner- ficially rity: ship Owned Direct (Instr. 4) at (D) or End Indi- of rect (I) Month (Instr. 4) (Instr. 4) - --------------- --------------- ---------------- ------------------- See Note (2) 7,844,914 I See Note (1) under under Explana- Explanation of tion of Responses Below Responses Below. - --------------- --------------- ---------------- ------------------- 2,020,200 I See Note (1) under Explanation of Responses Below - --------------- --------------- ---------------- ------------------- 10,000 I See Note (1) under Explanation of Responses Below - --------------- --------------- ---------------- ------------------- - --------------- --------------- ---------------- ------------------- - --------------- --------------- ---------------- ------------------- - --------------- --------------- ---------------- ------------------- - --------------- --------------- ---------------- ------------------- - --------------- --------------- ---------------- ------------------- - --------------- --------------- ---------------- ------------------- - --------------- --------------- ---------------- ------------------- - --------------- --------------- ---------------- ------------------- - --------------- --------------- ---------------- ------------------- Explanation of Responses: See Explanation of Responses on page 3 of 3. /s/ Larry N. Feinberg August 10, 2001 ------------------------------- ---------------- ** Intentional misstatements or omissions of facts constitute Federal Criminal **Signature of Reporting Person Date Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). Larry N. Feinberg, as managing Note: File three copies of this Form, one of which must be manually signed. member of Oracle Strategic Page 2 of 3 If space is insufficient, see Instruction 6 for procedure. Capital, L.L.C., the general partner of Oracle Strategic Potential persons who are to respond to the collection of information contained Partners, L.P. in this form are not required to respond unless the form displays a currently valid OMB number. 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 7,844,914 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 face amount of $133,010, was received as interest payment in pre-existing Debentures held by Strategic Partners. The Debenture to which this note relates is presently convertible into 59,914 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. Page 3 of 3