SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
---------
SCHEDULE 13D
Amendment No. 4
(Rule 13d-101)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
RULE 13d-2(a)
Medarex, Inc.
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(Name of Issuer)
COMMON STOCK, par value $0.01
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(Title of Class of Securities)
583916-10-1
--------------------------------------------------------------------------------
CUSIP Number
BCC Acquisition I LLC
c/o Bay City Capital LLC
750 Battery Street
Suite 600
San Francisco, California 94111
(415) 676-3830
with a copy to:
Timothy G. Hoxie, Esq.
Heller Ehrman White & McAuliffe LLP
333 Bush Street
San Francisco, California 94104
(415) 772-6052
--------------------------------------------------------------------------------
(Name, address and telephone number
of person authorized to receive notices and communications)
November 7, 2001
----------------
(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
statement because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following
box: [_]
(Continued on following pages)
(Page 1 of 9 Pages)
SCHEDULE 13D
CUSIP NO. 583916-10-1 PAGE 2 OF 9 PAGES
----------- Amendment No. 4
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1 NAME OF REPORTING PERSONS
BCC Acquisition I LLC
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
2 (a) [_]
(b) [X]
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SEC USE ONLY
3
------------------------------------------------------------------------------
SOURCE OF FUNDS
4
WC, AF
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CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) [_]
5
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CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
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SOLE VOTING POWER
7
NUMBER OF 0
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
3,791,346 shares
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING 0
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
3,791,346 shares
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
3,791,346 shares
------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
12
[_]
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
5.21%
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TYPE OF REPORTING PERSON
14
OO
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SCHEDULE 13D
CUSIP NO. 583916-10-1 PAGE 3 OF 9 PAGES
----------- Amendment No. 4
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1 NAME OF REPORTING PERSONS
The Bay City Capital Fund I, L.P.
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
2 (a) [_]
(b) [X]
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SEC USE ONLY
3
------------------------------------------------------------------------------
SOURCE OF FUNDS
4
WC, AF
------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) [_]
5
------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF 0
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
3,791,346 shares
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING 0
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
3,791,346 shares
------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
3,791,346 shares
------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
12
[_]
------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
5.21%
------------------------------------------------------------------------------
TYPE OF REPORTING PERSON
14
OO
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SCHEDULE 13D
CUSIP NO. 583916-10-1 PAGE 4 OF 9 PAGES
----------- Amendment No. 4
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1 NAME OF REPORTING PERSONS
Bay City Capital Management LLC
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
2 (a) [_]
(b) [X]
------------------------------------------------------------------------------
SEC USE ONLY
3
------------------------------------------------------------------------------
SOURCE OF FUNDS
4
WC, AF
------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) [_]
5
------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF 0
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
3,791,346 shares
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING 0
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
3,791,346 shares
------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
3,791,346 shares
------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
12
[_]
------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
5.21%
------------------------------------------------------------------------------
TYPE OF REPORTING PERSON
14
OO
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SCHEDULE 13D
CUSIP NO. 583916-10-1 PAGE 5 OF 9 PAGES
----------- Amendment No. 4
------------------------------------------------------------------------------
1 NAME OF REPORTING PERSONS
Bay City Capital LLC
------------------------------------------------------------------------------
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
2 (a) [_]
(b) [X]
------------------------------------------------------------------------------
SEC USE ONLY
3
------------------------------------------------------------------------------
SOURCE OF FUNDS
4
WC, AF
------------------------------------------------------------------------------
CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEM 2(d) or 2(e) [_]
5
------------------------------------------------------------------------------
CITIZENSHIP OR PLACE OF ORGANIZATION
6
Delaware
------------------------------------------------------------------------------
SOLE VOTING POWER
7
NUMBER OF 0
SHARES -----------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8
3,791,346 shares
OWNED BY
-----------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9
REPORTING 0
PERSON -----------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10
3,791,346 shares
------------------------------------------------------------------------------
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
3,791,346 shares
------------------------------------------------------------------------------
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
12
[_]
------------------------------------------------------------------------------
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13
5.21%
------------------------------------------------------------------------------
TYPE OF REPORTING PERSON
14
OO
------------------------------------------------------------------------------
CUSIP NO. 583916-10-1 SCHEDULE 13D PAGE 6 OF 9 PAGES
-----------
Amendment No. 4
INTRODUCTION
BCC Acquisition I LLC, a Delaware limited liability company ("BCC
Acquisition"), hereby files this Amendment No. 4 (the "Amendment") to the
Statement on Schedule 13D (the "Statement") on behalf of the Reporting Persons
(as defined under Item 2 of the Statement) identified herein pursuant to the
Agreement with Respect to Schedule 13D attached to the Statement as Exhibit
7(1). Defined terms not otherwise defined herein are deemed to have the same
definition as ascribed thereto in the Statement.
Only those Items amended are reported herein.
Item 4. Purpose of Transaction.
----------------------
Item 4 is amended by adding the following paragraph at the end thereof:
In a series of open market transactions on the NASDAQ occurring on October
31, 2000 through December 19, 2000, BCC Acquisition disposed of an aggregate of
462,000 shares of the Common Stock of the Issuer at an average sales price of
approximately $54.75 per share. The total funds received by BCC Acquisition in
these transactions was $25,294,754.80 (before broker commissions). In a series
of open market transactions occurring October 16, 2001 through November 8, 2001,
BCC Acquisition disposed of an aggregate of 1,000,000 shares of the Common Stock
of the Issuer at an average sales price of approximately $20.73 per share. The
total funds received by BCC Acquisition in these transactions was $20,731,941.51
(before broker commissions). A table identifying the sales occurring within the
last sixty days is included in Item 5(c) of this Amendment. BCC Acquisition
presently intends to hold its remaining shares for investment, but reserves the
right to sell additional shares, or acquire additional shares, from time to
time.
CUSIP NO. 583916-10-1 SCHEDULE 13D PAGE 7 of 9 PAGES
-----------
Amendment No. 4
Item 5. Interest in Securities of the Issuer.
-------------------------------------
Item 5, paragraphs (a) and (b), is amended to read as follows:
(a) and (b)
The aggregate number of Shares and percentage of Common Stock of the Issuer
(based upon Issuer's report on Form 10-Q for the quarter ending June 30, 2001,
that it had 72,740,966 shares of Common Stock outstanding as of August 3, 2001)
beneficially owned by each person named in Item 2, as well as the number of
Shares of Common Stock as to which such person is deemed to have sole power to
vote or to direct the vote, shared power to vote or to direct the vote, sole
power to dispose or to direct the disposition, or shared power to dispose or
direct the disposition, in each case after giving effect to the transactions
described in Item 4 of this Amendment, is set forth in the following table.
=========================================================================================================
Reporting Person No. of Shares Percentage Power to Vote Power to Dispose
Beneficially of Class
Owned Shared Sole Shared Sole
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BCC Acquisition I 3,791,346 5.21% 3,791,346 3,791,346
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BCC Fund I, L.P. 3,791,346 5.21% 3,791,346 3,791,346
--------------------------------------------------------------------------------------------------------
BCC Management LLC 3,791,346 5.21% 3,791,346 3,791,346
--------------------------------------------------------------------------------------------------------
BCC LLC 3,791,346 5.21% 3,791,346 3,791,346
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The information required by Item 5 with respect to persons with whom voting
or dispositive power is shared is set forth in Item 2 of the Statement.
CUSIP NO. 583916-10-1 SCHEDULE 13D PAGE 8 of 9 PAGES
-----------
Amendment No. 4
(c) To the best knowledge of the Reporting Persons, no person described in
paragraph (a) of this Item 5 has effected any transaction in the Common Stock of
the Issuer during the past 60 days other than as set forth in the table below:
Date Seller # Shares Price Total Funds
Received
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10/16/01 BCC Acquisition 185,000 $20.1314 $ 3,724,299.94
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10/17/01 BCC Acquisition 2,500 20.5 51,250.00
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10/23/01 BCC Acquisition 20,000 20.0875 401,750.00
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10/25/01 BCC Acquisition 70,600 20.7837 1,467,329.22
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10/26/01 BCC Acquisition 80,800 21.6624 1,750,321.92
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10/29/01 BCC Acquisition 21,000 21.1592 444,343.20
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10/30/01 BCC Acquisition 47,400 20.1899 957,001.26
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10/31/01 BCC Acquisition 98,300 20.3622 2,001,604.26
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11/1/01 BCC Acquisition 53,000 20.2332 1,072,359.60
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11/2/01 BCC Acquisition 12,000 20.4442 245,330.40
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11/5/01 BCC Acquisition 42,500 20.2861 862,159.25
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11/6/01 BCC Acquisition 37,500 20.3324 762,465.00
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11/7/01 BCC Acquisition 240,800 20.8217 5,013,865.36
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11/8/01 BCC Acquisition 88,600 22.3235 1,977,862.10
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TOTAL 1,000,000 $20,731,941.51
--------- --------------
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(d) To the best knowledge of the Reporting Persons, no persons other than
the Reporting Persons have the right to receive or the power to direct the
receipt of dividends from, or the proceeds from the sale of, the Common Stock of
the Issuer held by the Reporting Persons.
A response to Item 5(c) is added as follows:
Other than the transactions described in Item 4 of this Amendment, there
have been no transactions by the Reporting Persons in the Issuer's Common Stock
since the date of filing of Amendment No. 3 to the Statement, dated October 4,
2000.
CUSIP NO. 583916-10-1 SCHEDULE 13D PAGE 9 OF 9 PAGES
-----------
Amendment No. 4
SIGNATURE
After reasonable inquiry and to the best of the undersigned's knowledge and
belief, the undersigned certifies that the information set forth in this
statement is true, complete and correct.
DATED: November 9, 2001
BCC Acquisition I LLC
By: Its Manager
The Bay City Capital Fund I, L.P.
By: Its General Partner
Bay City Capital Management LLC
By: /s/ Fred B. Craves
---------------------
Name: Fred B. Craves
Its: Manager and Managing Director