UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 4)*
ALTEON INC.
--------------------------------------------------------------------------------
(Name of Issuer)
Common Stock, $0.01 Par Value Per Share
--------------------------------------------------------------------------------
(Title of Class of Securities)
02144G107
---------
(CUSIP Number)
December 31, 2002
-----------------
(Date of Event which Requires Filing
of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[ ] Rule 13d-1(b)
[X] Rule 13d-1(c)
[ ] Rule 13d-1(d)
*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 the
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).
Page 1 of 10
------------------- ------------------
CUSIP No. 02144G107 13G Page 2 of 10 Pages
------------------- ------------------
---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
S.A.C. Capital Advisors, LLC
---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
---------- ---------------------------------------------------------------------
3 SEC USE ONLY
---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------- ----- ----------------------------------------------------
5 SOLE VOTING POWER
0
NUMBER OF ----- ----------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED 1,905,584 (including 572,738 shares issuable upon
BY exercise of warrants) (see Item 4)
EACH ----- ----------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH 0
----- ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
1,905,584 (including 572,738 shares issuable upon
exercise of warrants) (see Item 4)
---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,905,584 (including 572,738 shares issuable upon exercise of
warrants) (see Item 4)
---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[ ]
---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.9% (see Item 4)
---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
00
---------- ---------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT
Page 2 of 10
------------------- ------------------
CUSIP No. 02144G107 13G Page 3 of 10 Pages
------------------- ------------------
---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
S.A.C. Capital Management, LLC
---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
---------- ---------------------------------------------------------------------
3 SEC USE ONLY
---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
-------------------- ------ ----------------------------------------------------
5 SOLE VOTING POWER
0
NUMBER OF ------ ----------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED 1,905,584 (including 572,738 shares issuable upon
BY exercise of warrants) (see Item 4)
EACH ------ ----------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH 0
------ ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
1,905,584 (including 572,738 shares issuable upon
exercise of warrants) (see Item 4)
---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,905,584 (including 572,738 shares issuable upon exercise of
warrants) (see Item 4)
---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[ ]
---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.9% (see Item 4)
---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
00
---------- ---------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT
Page 3 of 10
------------------- ------------------
CUSIP No. 02144G107 13G Page 4 of 10 Pages
------------------- ------------------
---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
S.A.C. Capital Associates, LLC
---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
---------- ---------------------------------------------------------------------
3 SEC USE ONLY
---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Anguilla, British West Indies
-------------------- ------ ----------------------------------------------------
5 SOLE VOTING POWER
0
NUMBER OF ------ ----------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED 1,905,584 (including 572,738 shares issuable upon
BY exercise of warrants) (see Item 4)
EACH ------ ----------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH 0
------ ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
1,905,584 (including 572,738 shares issuable upon
exercise of warrants) (see Item 4)
---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,905,584 (including 572,738 shares issuable upon exercise of
warrants) (see Item 4)
---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[ ]
---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.9% (see Item 4)
---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
00
---------- ---------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT
Page 4 of 10
------------------- ------------------
CUSIP No. 02144G107 13G Page 5 of 10 Pages
------------------- ------------------
---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Steven A. Cohen
---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
---------- ---------------------------------------------------------------------
3 SEC USE ONLY
---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
-------------------- ------ ----------------------------------------------------
5 SOLE VOTING POWER
0
NUMBER OF ------ ----------------------------------------------------
SHARES 6 SHARED VOTING POWER
BENEFICIALLY
OWNED 1,905,584 (including 572,738 shares issuable upon
BY exercise of warrants) (see Item 4)
EACH ------ ----------------------------------------------------
REPORTING 7 SOLE DISPOSITIVE POWER
PERSON
WITH 0
------ ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
1,905,584 (including 572,738 shares issuable upon
exercise of warrants) (see Item 4)
---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,905,584 (including 572,738 shares issuable upon exercise of
warrants) (see Item 4)
---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[ ]
---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
5.9% (see Item 4)
---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
---------- ---------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT
Page 5 of 10
Item 1(a) Name of Issuer:
---------------
Alteon Inc.
Item 1(b) Address of Issuer's Principal Executive Offices:
------------------------------------------------
170 Williams Drive
Ramsey, New Jersey 07446
Items 2(a) Name of Person Filing:
----------------------
This statement is filed by: (i) S.A.C. Capital Advisors,
LLC, ("SAC Capital Advisors") with respect to Shares
beneficially owned by S.A.C. Capital Associates, LLC ("SAC
Capital Associates"); (ii) S.A.C. Capital Management, LLC,
("SAC Capital Management") with respect to Shares
beneficially owned by SAC Capital Associates; (iii) SAC
Capital Associates with respect to Shares beneficially owned
by it; and (iv) Steven A. Cohen with respect to Shares
beneficially owned by SAC Capital Advisors, SAC Capital
Management and SAC Capital Associates.
Item 2(b) Address of Principal Business Office:
-------------------------------------
The address of the principal business office of (i) SAC
Capital Advisors and Mr. Cohen is 72 Cummings Point Road,
Stamford, Connecticut 06902, (ii) SAC Capital Management is
540 Madison Avenue, New York, New York 10022, and (iii) SAC
Capital Associates is P.O. Box 58, Victoria House, The
Valley, Anguilla, British West Indies.
Item 2(c) Citizenship:
------------
SAC Capital Advisors and SAC Capital Management are Delaware
limited liability companies. SAC Capital Associates is an
Anguillan limited liability company. Mr. Cohen is a United
States citizen.
Item 2(d) Title of Class of Securities:
-----------------------------
Common Stock, par value $0.01 per share
Item 2(e) CUSIP Number:
-------------
02144G107
Item 3 Not Applicable
Page 6 of 10
Item 4 Ownership:
----------
The percentages used herein are calculated based upon the
Shares issued and outstanding as of November 4, 2002 as
reported on the Company's quarterly report on Form 10-Q
filed with the Securities and Exchange Commission by the
Company for the fiscal quarter ended September 30, 2002.
As of the close of business on December 31, 2002:
1. S.A.C. Capital Advisors, LLC
(a) Amount beneficially owned: -1,905,584- (including
572,738 shares issuable upon exercise of warrants)
(b) Percent of class: 5.9%
(c)(i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: -1,905,584-
(including 572,738 shares issuable upon exercise of
warrants)
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition:
-1,905,584- (including 572,738 shares issuable upon
exercise of warrants)
2. S.A.C. Capital Management, LLC
(a) Amount beneficially owned: -1,905,584- (including
572,738 shares issuable upon exercise of warrants)
(b) Percent of class: 5.9%
(c)(i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: -1,905,584-
(including 572,738 shares issuable upon exercise of
warrants)
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition:
-1,905,584- (including 572,738 shares issuable upon
exercise of warrants)
3. S.A.C. Capital Associates, LLC
(a) Amount beneficially owned: -1,905,584- (including
572,738 shares issuable upon exercise of warrants)
(b) Percent of class: 5.9%
(c)(i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: -1,905,584-
(including 572,738 shares issuable upon exercise of
warrants)
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition:
-1,905,584- (including 572,738 shares issuable upon
exercise of warrants)
4. Steven A. Cohen
(a) Amount beneficially owned: -1,905,584- (including
572,738 shares issuable upon exercise of warrants)
(b) Percent of class: 5.9%
(c)(i) Sole power to vote or direct the vote: -0-
Page 7 of 10
(ii) Shared power to vote or direct the vote: -1,905,584-
(including 572,738 shares issuable upon exercise of
warrants)
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition:
-1,905,584- (including 572,738 shares issuable upon
exercise of warrants)
SAC Capital Advisors, SAC Capital Management, and Mr. Cohen
own directly no shares of Common Stock or Warrants. Pursuant
to investment agreements, each of SAC Capital Advisors and
SAC Capital Management share all investment and voting power
with respect to the securities held by SAC Capital
Associates. Mr. Cohen controls both SAC Capital Advisors and
SAC Capital Management. By reason of the provisions of Rule
13D-3 of the Securities Exchange Act of 1934, as amended,
each of SAC Advisors, SAC Management and Mr. Cohen may be
deemed to own beneficially 1,905,584 (including 572,738
shares issuable upon exercise of warrants) (constituting
approximately 5.9% of the shares outstanding). Each of SAC
Capital Advisors, SAC Capital Management and Mr. Cohen
disclaim beneficial ownership of any of the securities
covered by this statement.
Item 5 Ownership of Five Percent or Less of a Class:
---------------------------------------------
If this statement is being filed to report the fact that as
of the date hereof the reporting person has ceased to be the
beneficial owner of more than five percent of the class of
securities, check the following. [ ]
Item 6 Ownership of More than Five Percent on Behalf of Another
--------------------------------------------------------
Person:
-------
Not Applicable
Item 7 Identification and Classification of the
----------------------------------------
Subsidiary Which Acquired the Security Being
--------------------------------------------
Reported on By the Parent Holding Company:
------------------------------------------
Not Applicable
Item 8 Identification and Classification of Members
--------------------------------------------
of the Group:
-------------
Not Applicable
Page 8 of 10
Item 9 Notice of Dissolution of Group:
-------------------------------
Not Applicable
Item 10 Certification:
--------------
By signing below the signatory certifies that, to the best of his knowledge
and belief, the securities referred to above were not acquired and are not held
for the purpose of or with the effect of changing or influencing the control of
the issuer of the securities and were not acquired and are not held in
connection with or as a participant in any transaction having that purpose or
effect.
Page 9 of 10
SIGNATURE
---------
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
Dated: February 11, 2003
S.A.C. CAPITAL ADVISORS, LLC
By: /s/ Peter Nussbaum
------------------------------
Name: Peter Nussbaum
Title: Authorized Person
S.A.C. CAPITAL MANAGEMENT, LLC
By: /s/ Peter Nussbaum
------------------------------
Name: Peter Nussbaum
Title: Authorized Person
S.A.C. CAPITAL ASSOCIATES, LLC
By: /s/ Peter Nussbaum
------------------------------
Name: Peter Nussbaum
Title: Authorized Person
STEVEN A. COHEN
By: /s/ Peter Nussbaum
------------------------------
Name: Peter Nussbaum
Title: Authorized Person
Page 10 of 10