UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
AMENDMENT NO. 2
Interpharm Holdings, Inc.
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(Name of Company)
Common Stock, $0.01 par value
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(Title of Class of Securities)
460588106
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(CUSIP Number of Class of Securities)
Joan P. Neuscheler Gloria M. Skigen
Tullis-Dickerson Capital Focus III, L.P. Law Offices of Gloria M. Skigen
c/o Tullis-Dickerson Partners III, L.L.C. 51 Boulder Brook Drive
Two Greenwich Plaza, 4th Fl. Stamford, CT 06830
Greenwich, CT 06830 (203)861-1717
(203) 629-8700
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
February 28, 2008
(Date of Event which Requires
Filing of this Schedule)
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
schedule because of Sections 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check
the following box. [ ]
NOTE: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See ss.240.13d-7 for other
parties to whom copies are to be sent. * The remainder of this cover page shall
be filled out for a reporting person's initial filing on this form with respect
to the subject class of securities, and for any subsequent amendment containing
information which would alter disclosures provided in a prior cover page. 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
("ACT") or otherwise subject to the liabilities of that section of the Act but
shall be subject to all other provisions of the Act (however, SEE the NOTES).
SCHEDULE 13D/A
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CUSIP NO. 460588106 PAGE 2 OF 14 PAGES
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Tullis-Dickerson Capital Focus III, L.P. IRS # 06-1621801
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [x]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
WC
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware, United States of America
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7 SOLE VOTING POWER
0
---------------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 568,647 shares of Common Stock;
OWNED BY
EACH 2,281,914 shares of Common Stock issuable upon exercise
REPORTING of the Amended and Restated Warrants;
PERSON WITH
10,526,316 shares of Common Stock issuable upon
conversion of the Series D-1 Preferred Stock;
877,194 shares of Common Stock issuable upon
conversion of the Convertible Notes; and
307,017 shares of Common Stock issuable upon
conversion of the Note Warrants (1)
---------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
---------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
568,647 shares of Common Stock;
2,281,914 shares of Common Stock issuable upon exercise
of the Amended and Restated Warrants; and
10,526,316 shares of Common Stock issuable upon
conversion of the Series D-1 Preferred Stock;
877,194 shares of Common Stock issuable upon
conversion of the Convertible Notes; and
307,017 shares of Common Stock issuable upon
conversion of the Note Warrants (1)
--------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
568,647 shares of Common Stock;
2,281,914 shares of Common Stock issuable upon exercise
of the Amended and Restated Warrants; and
10,526,316 shares of Common Stock issuable upon
conversion of the Series D-1 Preferred Stock;
877,194 shares of Common Stock issuable upon
conversion of the Convertible Notes; and
307,017 shares of Common Stock issuable upon
conversion of the Note Warrants (1))
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
18.2% (see Item 5)(1)
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14 TYPE OF REPORTING PERSON*
PN
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----------------
(1) Does not include shares of Common Stock (including shares of Common Stock
and shares of Common Stock issuable upon the conversion of preferred stock and
exercise of warrants and options) held by parties to the Irrevocable Proxy
Agreement other than the Reporting Persons, as discussed in Item 4 of the
Amendment No. 1.
SCHEDULE 13D/A
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CUSIP NO. 460588106 PAGE 3 OF 14 PAGES
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Tullis-Dickerson Partners III, L.L.C. IRS # 06-1621800
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [x]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
AF
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware, United States of America
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
0
---------------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 568,647 shares of Common Stock;
OWNED BY
EACH 2,281,914 shares of Common Stock issuable upon exercise
REPORTING of the Amended and Restated Warrants;
PERSON WITH
10,526,316 shares of Common Stock issuable upon
conversion of the Series D-1 Preferred Stock;
877,194 shares of Common Stock issuable upon
conversion of the Convertible Notes; and
307,017 shares of Common Stock issuable upon
conversion of the Note Warrants (1)
---------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
---------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
568,647 shares of Common Stock;
2,281,914 shares of Common Stock issuable upon exercise
of the Amended and Restated Warrants; and
10,526,316 shares of Common Stock issuable upon
conversion of the Series D-1 Preferred Stock;
877,194 shares of Common Stock issuable upon
conversion of the Convertible Notes; and
307,017 shares of Common Stock issuable upon
conversion of the Note Warrants (1)
------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
568,647 shares of Common Stock;
2,281,914 shares of Common Stock issuable upon exercise
of the Amended and Restated Warrants; and
10,526,316 shares of Common Stock issuable upon
conversion of the Series D-1 Preferred Stock;
877,194 shares of Common Stock issuable upon
conversion of the Convertible Notes; and
307,017 shares of Common Stock issuable upon
conversion of the Note Warrants (1)
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
18.2% (see Item 5)(1)
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
OO
--------------------------------------------------------------------------------
-----------------------
(1) Does not include shares of Common Stock (including shares of Common Stock
and shares of Common Stock issuable upon the conversion of preferred stock and
exercise of warrants and options) held by parties to the Irrevocable Proxy
Agreement other than the Reporting Persons, as discussed in Item 4 of the
Amendment No. 1.
SCHEDULE 13D/A
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CUSIP NO. 460588106 PAGE 4 OF 14 PAGES
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Joan P. Neuscheler
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [x]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
AF
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
0
---------------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 568,647 shares of Common Stock;
OWNED BY
EACH 2,281,914 shares of Common Stock issuable upon exercise
REPORTING of the Amended and Restated Warrants;
PERSON WITH
10,526,316 shares of Common Stock issuable upon
conversion of the Series D-1 Preferred Stock;
877,194 shares of Common Stock issuable upon
conversion of the Convertible Notes; and
307,017 shares of Common Stock issuable upon
conversion of the Note Warrants (1)
---------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
---------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
568,647 shares of Common Stock;
2,281,914 shares of Common Stock issuable upon exercise
of the Amended and Restated Warrants; and
10,526,316 shares of Common Stock issuable upon
conversion of the Series D-1 Preferred Stock;
877,194 shares of Common Stock issuable upon
conversion of the Convertible Notes; and
307,017 shares of Common Stock issuable upon
conversion of the Note Warrants (1)
-------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
568,647 shares of Common Stock;
2,281,914 shares of Common Stock issuable upon exercise
of the Amended and Restated Warrants; and
10,526,316 shares of Common Stock issuable upon
conversion of the Series D-1 Preferred Stock;
877,194 shares of Common Stock issuable upon
conversion of the Convertible Notes; and
307,017 shares of Common Stock issuable upon
conversion of the Note Warrants (1)
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
18.2% (see Item 5)(1)
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
--------------------------------------------------------------------------------
-----------------------
(1) Does not include shares of Common Stock (including shares of Common Stock
and shares of Common Stock issuable upon the conversion of preferred stock and
exercise of warrants and options) held by parties to the Irrevocable Proxy
Agreement other than the Reporting Persons, as discussed in Item 4 of the
Amendment No. 1.
SCHEDULE 13D/A
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CUSIP NO. 460588106 PAGE 5 OF 14 PAGES
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
James L.L. Tullis
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [x]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
AF
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
0
---------------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 568,647 shares of Common Stock;
OWNED BY
EACH 2,281,914 shares of Common Stock issuable upon exercise
REPORTING of the Amended and Restated Warrants;
PERSON WITH
10,526,316 shares of Common Stock issuable upon
conversion of the Series D-1 Preferred Stock;
877,194 shares of Common Stock issuable upon
conversion of the Convertible Notes; and
307,017 shares of Common Stock issuable upon
conversion of the Note Warrants (1)
---------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
---------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
568,647 shares of Common Stock;
2,281,914 shares of Common Stock issuable upon exercise
of the Amended and Restated Warrants; and
10,526,316 shares of Common Stock issuable upon
conversion of the Series D-1 Preferred Stock;
877,194 shares of Common Stock issuable upon
conversion of the Convertible Notes; and
307,017 shares of Common Stock issuable upon
conversion of the Note Warrants (1)
------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
568,647 shares of Common Stock;
2,281,914 shares of Common Stock issuable upon exercise
of the Amended and Restated Warrants; and
10,526,316 shares of Common Stock issuable upon
conversion of the Series D-1 Preferred Stock;
877,194 shares of Common Stock issuable upon
conversion of the Convertible Notes; and
307,017 shares of Common Stock issuable upon
conversion of the Note Warrants (1)
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
-------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
18.2% (see Item 5)(1)
-------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
-------------------------------------------------------------------------------
-----------------------
(1) Does not include shares of Common Stock (including shares of Common Stock
and shares of Common Stock issuable upon the conversion of preferred stock and
exercise of warrants and options) held by parties to the Irrevocable Proxy
Agreement other than the Reporting Persons, as discussed in Item 4 of the
Amendment No. 1.
SCHEDULE 13D/A
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CUSIP NO. 460588106 PAGE 6 OF 14 PAGES
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Thomas P. Dickerson
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [x]
(b) [ ]
--------------------------------------------------------------------------------
3 SEC USE ONLY
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4 SOURCE OF FUNDS*
AF
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
0
---------------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 568,647 shares of Common Stock;
OWNED BY
EACH 2,281,914 shares of Common Stock issuable upon exercise
REPORTING of the Amended and Restated Warrants;
PERSON WITH
10,526,316 shares of Common Stock issuable upon
conversion of the Series D-1 Preferred Stock;
877,194 shares of Common Stock issuable upon
conversion of the Convertible Notes; and
307,017 shares of Common Stock issuable upon
conversion of the Note Warrants (1)
---------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
---------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
568,647 shares of Common Stock;
2,281,914 shares of Common Stock issuable upon exercise
of the Amended and Restated Warrants; and
10,526,316 shares of Common Stock issuable upon
conversion of the Series D-1 Preferred Stock;
877,194 shares of Common Stock issuable upon
conversion of the Convertible Notes; and
307,017 shares of Common Stock issuable upon
conversion of the Note Warrants (1)
-------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
568,647 shares of Common Stock;
2,281,914 shares of Common Stock issuable upon exercise
of the Amended and Restated Warrants; and
10,526,316 shares of Common Stock issuable upon
conversion of the Series D-1 Preferred Stock;
877,194 shares of Common Stock issuable upon
conversion of the Convertible Notes; and
307,017 shares of Common Stock issuable upon
conversion of the Note Warrants (1)
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
18.2% (see Item 5)(1)
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
--------------------------------------------------------------------------------
-----------------------
(1) Does not include shares of Common Stock (including shares of Common Stock
and shares of Common Stock issuable upon the conversion of preferred stock and
exercise of warrants and options) held by parties to the Irrevocable Proxy
Agreement other than the Reporting Persons, as discussed in Item 4 of the
Amendment No. 1.
SCHEDULE 13D/A
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CUSIP NO. 460588106 PAGE 7 OF 14 PAGES
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Lyle A. Hohnke
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [x]
(b) [ ]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
AF
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
0
---------------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 568,647 shares of Common Stock;
OWNED BY
EACH 2,281,914 shares of Common Stock issuable upon exercise
REPORTING of the Amended and Restated Warrants;
PERSON WITH
10,526,316 shares of Common Stock issuable upon
conversion of the Series D-1 Preferred Stock;
877,194 shares of Common Stock issuable upon
conversion of the Convertible Notes; and
307,017 shares of Common Stock issuable upon
conversion of the Note Warrants (1)
---------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
---------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
568,647 shares of Common Stock;
2,281,914 shares of Common Stock issuable upon exercise
of the Amended and Restated Warrants; and
10,526,316 shares of Common Stock issuable upon
conversion of the Series D-1 Preferred Stock;
877,194 shares of Common Stock issuable upon
conversion of the Convertible Notes; and
307,017 shares of Common Stock issuable upon
conversion of the Note Warrants (1)
-------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
568,647 shares of Common Stock;
2,281,914 shares of Common Stock issuable upon exercise
of the Amended and Restated Warrants; and
10,526,316 shares of Common Stock issuable upon
conversion of the Series D-1 Preferred Stock;
877,194 shares of Common Stock issuable upon
conversion of the Convertible Notes; and
307,017 shares of Common Stock issuable upon
conversion of the Note Warrants (1)
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
18.2% (see Item 5)(1)
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
--------------------------------------------------------------------------------
-----------------------
(1) Does not include shares of Common Stock (including shares of Common Stock
and shares of Common Stock issuable upon the conversion of preferred stock and
exercise of warrants and options) held by parties to the Irrevocable Proxy
Agreement other than the Reporting Persons, as discussed in Item 4 of the
Amendment No. 1.
SCHEDULE 13D/A
--------------------------------------------------------------------------------
CUSIP NO. 460588106 PAGE 8 OF 14 PAGES
--------------------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
Timothy M. Buono
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [x]
(b) [ ]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS*
AF
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED
PURSUANT TO ITEMS 2(d) or 2(e) [ ]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
United States of America
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
0
---------------------------------------------------------------
NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY 568,647 shares of Common Stock;
OWNED BY
EACH 2,281,914 shares of Common Stock issuable upon exercise
REPORTING of the Amended and Restated Warrants;
PERSON WITH
10,526,316 shares of Common Stock issuable upon
conversion of the Series D-1 Preferred Stock;
877,194 shares of Common Stock issuable upon
conversion of the Convertible Notes; and
307,017 shares of Common Stock issuable upon
conversion of the Note Warrants (1)
---------------------------------------------------------------
9 SOLE DISPOSITIVE POWER
0
---------------------------------------------------------------
10 SHARED DISPOSITIVE POWER
568,647 shares of Common Stock;
2,281,914 shares of Common Stock issuable upon exercise
of the Amended and Restated Warrants; and
10,526,316 shares of Common Stock issuable upon
conversion of the Series D-1 Preferred Stock;
877,194 shares of Common Stock issuable upon
conversion of the Convertible Notes; and
307,017 shares of Common Stock issuable upon
conversion of the Note Warrants (1)
-------------------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
568,647 shares of Common Stock;
2,281,914 shares of Common Stock issuable upon exercise
of the Amended and Restated Warrants; and
10,526,316 shares of Common Stock issuable upon
conversion of the Series D-1 Preferred Stock;
877,194 shares of Common Stock issuable upon
conversion of the Convertible Notes; and
307,017 shares of Common Stock issuable upon
conversion of the Note Warrants (1)
--------------------------------------------------------------------------------
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES* [ ]
--------------------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
18.2% (see Item 5)(1)
--------------------------------------------------------------------------------
14 TYPE OF REPORTING PERSON*
IN
--------------------------------------------------------------------------------
-----------------------
(1) Does not include shares of Common Stock (including shares of Common Stock
and shares of Common Stock issuable upon the conversion of preferred stock and
exercise of warrants and options) held by parties to the Irrevocable Proxy
Agreement other than the Reporting Persons, as discussed in Item 4 of the
Amendment No. 1.
SCHEDULE 13D/A
The Schedule 13D filed on June 6, 2006 (the "SCHEDULE 13D") by Tullis-Dickerson
Capital Focus III, L.P. ("CAPITAL FOCUS III"), Tullis-Dickerson Partners III,
L.L.C. ("PARTNERS III"), Joan P. Neuscheler ("NEUSCHELER"), James L. L. Tullis
("TULLIS"), Thomas P. Dickerson ("DICKERSON"), Lyle A. Hohnke ("HOHNKE") and
Timothy M. Buono ("BUONO" and together with Capital Focus III, Partners III,
Neuscheler, Tullis, Dickerson and Hohnke, the "REPORTING PERSONS") relating to
the common stock, par value $0.01 per share (the "COMMON STOCK"), of Interpharm
Holdings, Inc. (the "ISSUER"), as amended by Amendment No. 1 to the Schedule 13D
filed on November 16, 2007 (the "AMENDMENT NO. 1"), is hereby amended as set
forth in this Amendment No. 2.
ITEM 4. PURPOSE OF TRANSACTION.
ITEM 4 OF THE SCHEDULE 13D IS HEREBY AMENDED TO ADD THE FOLLOWING:
On February 28, 2008, the Exchange Event (as defined in the Amendment No. 1) was
consummated.
ITEM 5. INTEREST IN SECURITIES OF THE COMPANY.
ITEM 5 (A) AND (B) OF THE SCHEDULE 13D ARE HEREBY AMENDED AND RESTATED AS
follows:
(a) As of the date of this Amendment No. 2, the Reporting Persons may be deemed
to beneficially own 14,561,088 shares of Common Stock including (i) 2,281,914
shares of Common Stock issuable to Capital Focus III upon exercise of the
Amended and Restated Warrants (as defined in the Amendment No. 1); (ii)
10,526,316 shares of Common Stock issuable to Capital Focus III upon conversion
of the Series D-1 Preferred Stock (as defined in the Amendment No. 1); (iii)
877,194 shares of Common Stock issuable to Capital Focus III upon conversion of
the Convertible Notes (as defined in the Amendment No. 1); (iv) 307,017 shares
of Common Stock issuable to Capital Focus III upon conversion of the Note
Warrants (as defined in the Amendment No. 1); and (v) 568,647 shares of Common
Stock currently owned by Capital Focus III. The 14,561,088 shares of Common
Stock that the Reporting Persons may be deemed to beneficially own represent
18.2% of the Common Stock. The percentages used in this Amendment No. 2 are
calculated based upon 66,190,053 shares of Common Stock reported to be
outstanding by the Issuer in its Schedule 14C filed with the Securities and
Exchage Commission on January 16, 2008. Partners III is the sole general partner
of Capital Focus III. Neuscheler, Tullis, Dickerson, Hohnke and Buono share
voting and/or dispositive power over all shares of Common Stock held by Capital
Focus III. The Reporting Persons disclaim beneficial ownership of the shares of
Common Stock beneficially owned except to the extent of their pecuniary
interests therein. As discussed in Item 4, the Reporting Persons may be deemed
to be a group within the meaning of Section 13(d)(3) of the Securities and
Exchange Act of 1934, however, the Reporting Persons disclaim the creation of a
group with the parties to the Irrevocable Proxy Agreement (as defined in the
Amendment No. 1).
(b) Partners III is the sole general partner of Capital Focus III. Neuscheler,
Tullis, Dickerson, Hohnke and Buono share voting and/or dispositive power over
all shares. These individuals disclaim beneficial ownership of the shares of
Common Stock beneficially owned by the above entities except to the extent of
their pecuniary interests therein. The Reporting Persons disclaim their ability
to direct the voting of Issuer shares, other than those held directly by the
Reporting Persons, as a result of the Irrevocable Proxy Agreement as discussed
in Item 4.
(c) During the last sixty days there were no transactions in the Common Stock
effected. The Reporting Persons disclaim their ability to direct the voting of
the Common Stock as a result of the Irrevocable Proxy Agreement as discussed in
Item 4.
(d) The partners or members of Capital Focus III and Partners III have the right
to participate indirectly in the receipt of dividends from, or proceeds from the
sale of, the shares of Common Stock in accordance with their respective
ownership interests in their respective entities.
(e) Not applicable.
SIGNATURES
After reasonable inquiry and to the best of his knowledge and belief, each
of the undersigned certifies that the information set forth in this statement is
true, complete and correct.
February 29, 2008 TULLIS-DICKERSON CAPITAL FOCUS III, L.P.
BY: TULLIS-DICKERSON PARTNERS III, L.L.C.,
ITS: GENERAL PARTNER
By: /s/ Joan P. Neuscheler
----------------------------------------
JOAN P. NEUSCHELER
Principal
February 29, 2008 TULLIS-DICKERSON PARTNERS III, L.L.C.
By: /s/ Joan P. Neuscheler
----------------------------------------
JOAN P. NEUSCHELER
Principal
February 29, 2008 /s/ Joan P. Neuscheler
----------------------------------------
JOAN P. NEUSCHELER
February 29, 2008 /s/ James L.l. Tullis
----------------------------------------
JAMES L.L. TULLIS
February 29, 2008 /s/ Thomas P. Dickerson
----------------------------------------
THOMAS P. DICKERSON
February 29, 2008 /s/ Lyle A. Hohnke
----------------------------------------
LYLE A. HOHNKE
February 29, 2008 /s/ Timothy M. Buono
----------------------------------------
TIMOTHY M. BUONO