UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 3)*
ALTEON INC.
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(Name of Issuer)
Common Stock, $0.01 Par Value Per Share
--------------------------------------------------------------------------------
(Title of Class of Securities)
02144G107
---------
(CUSIP Number)
December 31, 2001
-----------------
(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 8 pages
-------------------- ---------------------
CUSIP No. 02144G107 13G Page 2 of 8 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 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 1,925,584 (including 572,738 shares issuable upon
OWNED exercise of warrants)
BY ----- ----------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH ----- ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
1,925,584 (including 572,738 shares issuable upon
exercise of warrants)
---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,925,584 (including 572,738 shares issuable upon exercise of
warrants)
---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES [ ]
---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.9%
---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
00
---------- ---------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT
Page 2 of 8 pages
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CUSIP No. 02144G107 13G Page 3 of 8 Pages
--------- --- ---
-------------------- ---------------------
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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 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 1,925,584 (including 572,738 shares issuable upon
OWNED exercise of warrants)
BY ------ ----------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH ------ ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
1,925,584 (including 572,738 shares issuable upon
exercise of warrants)
---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,925,584 (including 572,738 shares issuable upon exercise of
warrants)
---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES [ ]
---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.9%
---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
00
---------- ---------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT
Page 3 of 8 pages
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CUSIP No. 02144G107 13G Page 4 of 8 Pages
--------- --- ---
-------------------- ---------------------
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1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Steven A. Cohen
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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 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 1,925,584 (including 572,738 shares issuable upon
OWNED exercise of warrants)
BY ------ ----------------------------------------------------
EACH 7 SOLE DISPOSITIVE POWER
REPORTING
PERSON 0
WITH ------ ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
1,925,584 (including 572,738 shares issuable upon
exercise of warrants)
---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,925,584 (including 572,738 shares issuable upon exercise of
warrants)
---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES [ ]
---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.9%
---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
---------- ---------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT
Page 4 of 8 pages
Item 1(a) Name of Issuer:
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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:
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This statement is being filed by (i) S.A.C. Capital
Advisors, LLC ("SAC Capital Advisors"), (ii) S.A.C. Capital
Management, LLC ("SAC Capital Management") and (iii) Steven
A. Cohen.
Item 2(b) Address of Principal Business Office:
--------- -------------------------------------
(i), (ii) and (iii):
777 Long Ridge Road
Stamford, Connecticut 06902
Item 2(c) Citizenship:
--------- ------------
(i): Delaware
(ii): Delaware
(iii): United States
Item 2(d) Title of Class of Securities:
--------- -----------------------------
Common Stock, par value $.01 per share
Item 2(e) CUSIP Number:
--------- -------------
02144G107
Item 3 Not Applicable
Item 4. Ownership:
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The securities reported on herein are held by S.A.C. Capital Associates, LLC, an
Anguillan limited liability company ("SAC Capital Associates"). 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. Accordingly, each of SAC Capital Advisors and SAC Capital
Management may be deemed to be the beneficial owner of the securities covered by
this statement for purposes of Rule 13d-3 under the Securities Exchange Act of
1934 (the "Exchange Act").
Page 5 of 8 pages
Steven A. Cohen is (i) the President and Chief Executive Officer of SAC Capital
Advisors, the Managing Member of which is a corporation wholly owned by Mr.
Cohen, and (ii) the owner, directly and through a wholly owned subsidiary, of
100% of the membership interests of SAC Capital Management. Accordingly, Mr.
Cohen may be deemed to be the beneficial owner of the securities covered by this
statement for purposes of Rule 13d-3 under the Exchange Act. Mr. Cohen disclaims
beneficial ownership of any of the securities covered by this statement.
Item 4(a) Amount Beneficially Owned:
--------- --------------------------
1,925,584 (including 572,738 shares issuable upon exercise
of warrants)
Item 4(b) Percent of Class:
--------- -----------------
6.9%
Item 4(c) Number of shares as to which such person has:
--------- ---------------------------------------------
(i) Sole power to vote or to direct the vote: 0
(ii) Shared power to vote or to direct the vote: 1,925,584
(including 572,738 shares issuable upon exercise of
warrants)
(iii) Sole power to dispose or to direct the disposition
of: 0
(iv) Shared power to dispose or to direct the disposition
of: 1,925,584 (including 572,738 shares issuable upon
exercise of warrants)
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:
-------
SAC Capital Associates has the right to receive dividends
on, and proceeds from the sale of, the shares reported on
this statement as beneficially owned by SAC Capital
Advisors, SAC Capital Management and Mr. Cohen.
Page 6 of 8 pages
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
Item 9 Notice of Dissolution of Group:
------------------------------
Not Applicable
Item 10 Certification:
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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 7 of 8 pages
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 12, 2002
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
STEVEN A. COHEN
By: /s/ Peter Nussbaum
-----------------------------------------
Name: Peter Nussbaum
Title: Authorized Person
Page 8 of 8 pages