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OMB APPROVAL
FORM 3 OMB Number..3235-0104
Expires:December 31, 2001
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES
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
Drapkin, Donald G.
35 East 62nd Street
New York, New York 10021
2. Date of Event Requiring Statement (Month/Day/Year)
March 30, 2001
3. IRS or Social Security Number of Reporting Person (Voluntary)
4. Issuer Name and Ticker or Trading Symbol
SIGA Technologies, Inc. ("SIGA")
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)
( ) Director (X) 10% Owner ( ) Officer (give title below) ( ) Other
(specify below)
6. If Amendment, Date of Original (Month/Day/Year)
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 Beneficially Owned |
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1. Title of Security |2. Amount of |3. Ownership |4. Nature of Indirect |
| Securities | Form: | Beneficial Ownership |
| Beneficially | Direct(D) or | |
| Owned | Indirect(I) | |
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Common Stock, par value $0.0001 per share | 373,400 | D | |
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*If form is filed by more than one reporting person, see Instruction 5(b)(v). (over)
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-96)
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Table II -- Derivative Securitites Beneficially Owned |
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1.Title of Derivative |2.Date Exer- |3.Title and Amount | |4. Conver-|5. Owner- |6. Nature of Indirect |
Security | cisable and | of Underlying | |sion or |ship | Beneficial Ownership |
| Expiration | Securities | |exercise |Form of | |
| Date(Month/ |-----------------------|---------|price of |Deriv- | |
| Day/Year) | |Amount |deri- |ative | |
| Date | Expira- | |or |vative |Security: | |
| Exer- | tion | Title |Number of|Security |Direct(D) or | |
| cisable | Date | |Shares | |Indirect(I) | |
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| | | | | | | |
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6% Convertible Debentures 1-31-00| N/A | Common Stock |347,826 |$1.4375 | D | |
due January 31, 2002 (1)(2)
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Common Stock Purchase | 1-31-00|1-31-2005| Common Stock |347,826 |$3.4059 | D | |
due January 31, 2002 (2)
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Explanation of Responses:
(1) The number in the table represents Common Stock issuable upon conversion
of the Reporting Person's Debenture with a face amount of $500,000. the
Reporting Person may also be deemed to beneficially own Common Stock
issuable upon conversion of other amounts, including, without limitation,
accrued interest, with respect to such Debenture.
(2) See Attachment A.
/s/ Donald G. Drapkin
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Donald G. Drapkin
Date: April 9, 2001
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** 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.
ATTACHMENT A
Reporting Person: Donald G. Drapkin
Issuer: SIGA Technologies, Inc. (SIGA)
Report: Form 3 dated March 30, 2001
The Reporting Person's Debentures and Warrants each provide that, with
certain limited exceptions, they are not convertible or exercisable, as the case
may be, if, as a result of such action, the number of shares of Common Stock
beneficially owned by the Reporting Person and its affiliates (other than shares
of Common Stock which may be deemed beneficially owned through the ownership of
the unexercised portion of such securities) would exceed 9.99% of the
outstanding shares of Common Stock. As a result of such restrictions and other
securities which the Reporting Person may be deemed beneficially to own as of
April 2, 2001 (which include securities over which the Reporting Person has no
pecuniary interest, and which are therefor not disclosed in this Form 3), the
Reporting Person's Debentures and Warrant are not presently convertible or
exercisable. Nonetheless, the Reporting Person may be deemed to have a pecuniary
interest in such Debentures and Warrants and in the Common Stock issuable upon
conversion and exercise thereof.
