UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
(Amendment No. 1)
Under the Securities Exchange Act of 1934*
TRIANGLE PHARMACEUTICALS, INC.
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(Name of Issuer)
Common Stock, $0.001 Par Value
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(Title of Class of Securities)
89589H104
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(CUSIP Number)
Scott A. Arenare, Esq.
Vice President and General Counsel
Warburg Pincus LLC
466 Lexington Avenue
New York, New York 10017
(212) 878-0600
--------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
Copies to:
Peter H. Jakes, Esq.
Willkie Farr & Gallagher
787 Seventh Avenue
New York, NY 10019-6099
(212) 728-8000
October 10, 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
schedule because of ss.ss. 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 Rule 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
-------------------
CUSIP No. 89589H104
-------------------
----------- --------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION
Warburg Pincus Private Equity VIII, L.P. I.R.S. #13-4161869
----------- --------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [X]
----------- --------------------------------------------------------------------
3 SEC USE ONLY
----------- --------------------------------------------------------------------
4 SOURCE OF FUNDS (See Instructions)
WC
----------- --------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [ ]
----------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------- --------- ------------------------------------------------
7 SOLE VOTING POWER
0
--------- ------------------------------------------------
8 SHARED VOTING POWER
NUMBER OF
SHARES 23,384,887
BENEFICIALLY --------- ------------------------------------------------
OWNED BY EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON WITH 0
--------- ------------------------------------------------
10 SHARED DISPOSITIVE POWER
23,384,887
----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
23,384,887
----------- --------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(See Instructions) [ ]
----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
30.5%
----------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
PN
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SCHEDULE 13D
-------------------
CUSIP No. 89589H104
-------------------
----------- --------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only)
Warburg, Pincus & Co. I.R.S. #13-6358475
----------- --------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [X]
----------- --------------------------------------------------------------------
3 SEC USE ONLY
----------- --------------------------------------------------------------------
4 SOURCE OF FUNDS (See Instructions)
N/A
----------- --------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [ ]
----------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
--------------------- --------- ------------------------------------------------
7 SOLE VOTING POWER
0
--------- ------------------------------------------------
8 SHARED VOTING POWER
NUMBER OF
SHARES 23,384,887
BENEFICIALLY --------- ------------------------------------------------
OWNED BY EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON WITH 0
--------- ------------------------------------------------
10 SHARED DISPOSITIVE POWER
23,384,887
----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
23,384,887
----------- --------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(See Instructions) [ ]
----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
30.5%
----------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
PN
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SCHEDULE 13D
-------------------
CUSIP No. 89589H104
-------------------
----------- --------------------------------------------------------------------
1 NAMES OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (entities only)
Warburg Pincus LLC I.R.S. #13-3536050
----------- --------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)
(a) [ ]
(b) [X]
----------- --------------------------------------------------------------------
3 SEC USE ONLY
----------- --------------------------------------------------------------------
4 SOURCE OF FUNDS (See Instructions)
N/A
----------- --------------------------------------------------------------------
5 CHECK IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e) [ ]
----------- --------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
New York
--------------------- --------- ------------------------------------------------
7 SOLE VOTING POWER
0
--------- ------------------------------------------------
8 SHARED VOTING POWER
NUMBER OF
SHARES 23,384,887
BENEFICIALLY --------- ------------------------------------------------
OWNED BY EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON WITH 0
--------- ------------------------------------------------
10 SHARED DISPOSITIVE POWER
23,384,887
----------- --------------------------------------------------------------------
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
23,384,887
----------- --------------------------------------------------------------------
12 CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
(See Instructions) [ ]
----------- --------------------------------------------------------------------
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
30.5%
----------- --------------------------------------------------------------------
14 TYPE OF REPORTING PERSON (See Instructions)
OO
----------- --------------------------------------------------------------------
This Amendment No. 1 (the "Amendment") amends the Schedule 13D filed on
September 4, 2001 (the "Original Schedule 13D") and is being filed on behalf of
Warburg Pincus Private Equity VIII, L.P., a Delaware limited partnership ("WP
VIII"), Warburg Pincus LLC, a New York limited liability company ("WP LLC") and
Warburg, Pincus & Co., a New York general partnership ("WP," and together with
WP VIII and WP LLC, the "Reporting Persons").
Unless the context otherwise requires, references herein to the "Common
Stock" are to shares of common stock, par value $0.001 per share of Triangle
Pharmaceuticals, Inc., a Delaware corporation (the "Company"). Unless otherwise
indicated herein, each capitalized term used but not defined herein shall have
the meaning assigned to such term in the Original Schedule 13D. This Amendment
is being filed in connection with the acquisition of the Second Closing Shares
on October 10, 2001 in accordance with the Purchase Agreement.
Item 1. Source and Amount of Funds or Other Consideration.
Item 3 of the Original Schedule 13D is hereby amended in its entirety to
read as follows:
Pursuant to the Purchase Agreement, WP VIII purchased 9,628,002 shares of
the Company's Common Stock at a price of $2.65 per share (the "Initial Closing
Shares"), with the purchase price paid in cash on August 24, 2001 (the "Initial
Closing") and 13,756,885 shares of the Company's Common Stock at a price of
$2.65 per share (the "Second Closing Shares" and, together with the Initial
Closing Shares, the "Shares") with the purchase price paid in cash on October
10, 2001.
The total amount of funds required to purchase the Shares pursuant to the
Purchase Agreement was $61,969,950.55 and was furnished from the working capital
of
WP VIII. No additional funds were required to acquire beneficial ownership of
the Common Stock reported on this Schedule 13D.
Item 5 Interest in Securities of the Issuer.
Item 5 of the Original Schedule 13D is hereby amended in its entirety to
read as follows:
(a) As of October 10, 2001, the Reporting Persons beneficially own
23,384,887 shares of Common Stock. WP VIII may be deemed to beneficially own
23,384,887 shares of Common Stock, representing approximately 30.5% of the
76,683,805 shares of outstanding Common Stock, based on the 48,381,918 shares of
Common Stock outstanding as of August 21, 2001 (which number was represented by
the Company in the Purchase Agreement to be outstanding on that date) plus (i)
9,628,002 shares of Common Stock issued in the Initial Closing and (ii) a total
of 19,417,262 shares of Common Stock issued in the Second Closing. By reason of
their respective relationships with WP VIII and each other, each of the other
Reporting Persons may also be deemed under Rule 13d-3 under the Exchange Act to
own beneficially 23,384,887 shares of Common Stock, representing approximately
30.5% of the outstanding Common Stock.
(b) WP VIII shares the power to vote or to direct the vote and to dispose
or to direct the disposition of the 23,384,887 shares of Common Stock it may be
deemed to beneficially own. Each of the Reporting Persons shares with WP VIII
the power to vote or to direct the vote and to dispose or to direct the
disposition of the 23,384,887 shares of Common Stock it may be deemed to
beneficially own.
The Reporting Persons are making this single, joint filing because they may
be deemed to constitute a "group" within the meaning of Section 13(d)(3) of the
Exchange Act. Each Reporting Person disclaims beneficial ownership of all shares
of Common Stock, other than those reported herein as being owned by it.
(c) Other than the acquisition of the Initial Closing Shares, no
transactions in the Common Stock were effected during the last sixty days by the
Reporting Persons or any of the persons set forth on Schedule I or in Item 2(d)
hereto.
(d) Except as set forth in this Item 5, no person other than each
respective record owner referred to herein of securities is known to have the
right to receive or the power to direct the receipt of dividends from, or the
proceeds from the sale of, such securities.
(e) Not applicable.
SIGNATURES
After reasonable inquiry and to the best of our knowledge and belief, the
undersigned certify that the information set forth in this statement is true,
complete and correct.
Dated: October 15, 2001 WARBURG PINCUS PRIVATE EQUITY VIII, L.P.
By: Warburg, Pincus & Co.,
General Partner
By: /s/ Scott Arenare
------------------------------
Name: Scott Arenare
Title: Attorney in Fact
Dated: October 15, 2001 WARBURG, PINCUS & CO.
By: /s/ Scott Arenare
------------------------------
Name: Scott Arenare
Title: Attorney in Fact
Dated: October 15, 2001 WARBURG PINCUS LLC
By: /s/ Scott Arenare
------------------------------
Name: Scott Arenare
Title: Vice President
SCHEDULE I
Set forth below is the name, position and present principal occupation of
each of the general partners of Warburg, Pincus & Co. ("WP") and members of
Warburg Pincus LLC ("WP LLC"). The sole general partner of Warburg Pincus
Private Equity VIII ("WP VIII") is WP. WP VIII, WP, and WP LLC are hereinafter
collectively referred to as the "Reporting Entities". Except as otherwise
indicated, the business address of each of such persons is 466 Lexington Avenue,
New York, New York 10017, and each of such persons is a citizen of the United
States.
GENERAL PARTNERS OF WP
----------------------
-------------------------- -----------------------------------------------------
PRESENT PRINCIPAL OCCUPATION IN ADDITION
TO POSITION WITH WP, AND POSITIONS
NAME WITH THE REPORTING ENTITIES
-------------------------- -----------------------------------------------------
Joel Ackerman Partner of WP; Member and Managing Director of WP LLC
-------------------------- -----------------------------------------------------
Gregory Back Partner of WP; Member and Managing Director of WP LLC
-------------------------- -----------------------------------------------------
David Barr Partner of WP; Member and Managing Director of WP LLC
-------------------------- -----------------------------------------------------
Harold Brown Partner of WP; Member and Managing Director of WP LLC
-------------------------- -----------------------------------------------------
Sean D. Carney Partner of WP; Member and Managing Director of WP LLC
-------------------------- -----------------------------------------------------
Timothy J. Curt Partner of WP; Member and Managing Director of WP LLC
-------------------------- -----------------------------------------------------
W. Bowman Cutter Partner of WP; Member and Managing Director of WP LLC
-------------------------- -----------------------------------------------------
Cary J. Davis Partner of WP; Member and Managing Director of WP LLC
-------------------------- -----------------------------------------------------
Stephen Distler Partner of WP; Member and Managing Director of WP LLC
-------------------------- -----------------------------------------------------
Stewart K. P. Gross Partner of WP; Member and Senior Managing Director of
WP LLC
-------------------------- -----------------------------------------------------
Patrick T. Hackett Partner of WP; Member and Managing Director of WP LLC
-------------------------- -----------------------------------------------------
Jeffrey A. Harris Partner of WP; Member and Senior Managing Director of
WP LLC
-------------------------- -----------------------------------------------------
William H. Janeway Partner of WP; Member and Vice Chairman of WP LLC
-------------------------- -----------------------------------------------------
Charles R. Kaye Partner of WP; Member and Executive Managing Director
of WP LLC
-------------------------- -----------------------------------------------------
Henry Kressel Partner of WP; Member and Senior Managing Director of
WP LLC
-------------------------- -----------------------------------------------------
Joseph P. Landy Partner of WP; Member and Executive Managing Director
of WP LLC
-------------------------- -----------------------------------------------------
Sidney Lapidus Partner of WP; Member and Managing Director of WP LLC
-------------------------- -----------------------------------------------------
Kewsong Lee Partner of WP; Member and Managing Director of WP LLC
-------------------------- -----------------------------------------------------
Jonathan S. Leff Partner of WP; Member and Managing Director of WP LLC
-------------------------- -----------------------------------------------------
Reuben S. Leibowitz Partner of WP; Member and Managing Director of WP LLC
-------------------------- -----------------------------------------------------
David E. Libowitz Partner of WP; Member and Managing Director of WP LLC
-------------------------- -----------------------------------------------------
Nancy Martin Partner of WP; Member and Managing Director of WP LLC
-------------------------- -----------------------------------------------------
Edward J. McKinley Partner of WP; Member and Managing Director of WP LLC
-------------------------- -----------------------------------------------------
Rodman W. Moorhead III Partner of WP; Member and Managing Director of WP LLC
-------------------------- -----------------------------------------------------
James Neary Partner of WP; Member and Managing Director of WP LLC
-------------------------- -----------------------------------------------------
Howard H. Newman Partner of WP; Member and Vice Chairman of WP LLC
-------------------------- -----------------------------------------------------
Gary D. Nusbaum Partner of WP; Member and Managing Director of WP LLC
-------------------------- -----------------------------------------------------
Dalip Pathak Partner of WP; Member and Managing Director of WP LLC
-------------------------- -----------------------------------------------------
Lionel I. Pincus Managing Partner of WP; Managing Member, Chairman of
the Board and Chief Executive Officer of WP LLC
-------------------------- -----------------------------------------------------
John D. Santoleri Partner of WP; Member and Managing Director of WP LLC
-------------------------- -----------------------------------------------------
Steven G. Schneider Partner of WP; Member and Managing Director of WP LLC
-------------------------- -----------------------------------------------------
Barry Taylor Partner of WP; Member and Managing Director of WP LLC
-------------------------- -----------------------------------------------------
John L. Vogelstein Partner of WP; Member, and President of WP LLC
-------------------------- -----------------------------------------------------
Elizabeth H. Weatherman Partner of WP; Member and Managing Director of WP LLC
-------------------------- -----------------------------------------------------
David Wenstrup Partner of WP; Member and Managing Director of WP LLC
-------------------------- -----------------------------------------------------
Pincus & Co.*
-------------------------- -----------------------------------------------------
NL & Co.**
-------------------------- -----------------------------------------------------
---------------------
* New York limited partnership; primary activity is ownership interest in WP
and WP LLC
** New York limited partnership; primary activity is ownership interest in WP.
957977.2
MEMBERS OF WP LLC
-----------------
-------------------------- -----------------------------------------------------
PRESENT PRINCIPAL OCCUPATION IN ADDITION
TO POSITION WITH WP LLC, AND POSITIONS
NAME WITH THE REPORTING ENTITIES
-------------------------- -----------------------------------------------------
Joel Ackerman Member and Managing Director of WP LLC; Partner of WP
-------------------------- -----------------------------------------------------
Gregory Back Member and Managing Director of WP LLC; Partner of WP
-------------------------- -----------------------------------------------------
David Barr Member and Managing Director of WP LLC; Partner of WP
-------------------------- -----------------------------------------------------
Frank M. Brochin (1) Member and Managing Director of WP LLC
-------------------------- -----------------------------------------------------
Harold Brown Member and Managing Director of WP LLC; Partner of WP
-------------------------- -----------------------------------------------------
Sean D. Carney Member and Managing Director of WP LLC; Partner of WP
-------------------------- -----------------------------------------------------
Timothy J. Curt Member and Managing Director of WP LLC; Partner of WP
-------------------------- -----------------------------------------------------
W. Bowman Cutter Member and Managing Director of WP LLC; Partner of WP
-------------------------- -----------------------------------------------------
Cary J. Davis Member and Managing Director of WP LLC; Partner of WP
-------------------------- -----------------------------------------------------
Stephen Distler Member and Managing Director of WP LLC; Partner of WP
-------------------------- -----------------------------------------------------
Tetsuya Fukagawa (2) Member and Managing Director of WP LLC
-------------------------- -----------------------------------------------------
Makoto Fukuhara (2) Member and Managing Director of WP LLC
-------------------------- -----------------------------------------------------
Stewart K. P. Gross Member and Senior Managing Director of WP LLC;
Partner of WP
-------------------------- -----------------------------------------------------
Alf Grunwald (3) Member and Managing Director of WP LLC
-------------------------- -----------------------------------------------------
Patrick T. Hackett Member and Managing Director of WP LLC; Partner of WP
-------------------------- -----------------------------------------------------
Jeffrey A. Harris Member and Senior Managing Director of WP LLC;
Partner of WP
-------------------------- -----------------------------------------------------
Sung-Jin Hwang (4) Member and Managing Director of WP LLC
-------------------------- -----------------------------------------------------
Roberto Italia (5) Member and Managing Director of WP LLC
-------------------------- -----------------------------------------------------
William H. Janeway Member and Vice Chairman of WP LLC; Partner of WP
-------------------------- -----------------------------------------------------
Charles R. Kaye Member and Executive Managing Director of WP LLC;
Partner of WP
-------------------------- -----------------------------------------------------
Rajesh Khanna (6) Member and Managing Director of WP LLC
-------------------------- -----------------------------------------------------
Henry Kressel Member and Senior Managing Director of WP LLC;
Partner of WP
-------------------------- -----------------------------------------------------
Rajiv B. Lall (6) Member and Managing Director of WP LLC
-------------------------- -----------------------------------------------------
Joseph P. Landy Member and Executive Managing Director of WP LLC;
Partner of WP
-------------------------- -----------------------------------------------------
Sidney Lapidus Member and Managing Director of WP LLC; Partner of WP
-------------------------- -----------------------------------------------------
Kewsong Lee Member and Managing Director of WP LLC; Partner of WP
-------------------------- -----------------------------------------------------
Jonathan S. Leff Member and Managing Director of WP LLC; Partner of WP
-------------------------- -----------------------------------------------------
Reuben S. Leibowitz Member and Managing Director of WP LLC; Partner of WP
-------------------------- -----------------------------------------------------
David E. Libowitz Member and Managing Director of WP LLC; Partner of WP
-------------------------- -----------------------------------------------------
Nicholas J. Lowcock (7) Member and Managing Director of WP LLC
-------------------------- -----------------------------------------------------
John W. MacIntosh (8) Member and Managing Director of WP LLC
-------------------------- -----------------------------------------------------
Nancy Martin Member and Managing Director of WP LLC; Partner of WP
-------------------------- -----------------------------------------------------
Edward J. McKinley Member and Managing Director of WP LLC; Partner of WP
-------------------------- -----------------------------------------------------
Rodman W. Moorhead III Member and Managing Director of WP LLC; Partner of WP
-------------------------- -----------------------------------------------------
James Neary Member and Managing Director of WP LLC; Partner of WP
-------------------------- -----------------------------------------------------
Howard H. Newman Member and Vice Chairman of WP LLC; Partner of WP
-------------------------- -----------------------------------------------------
Gary D. Nusbaum Member and Managing Director of WP LLC; Partner of WP
-------------------------- -----------------------------------------------------
Dalip Pathak Member and Managing Director of WP LLC; Partner of WP
-------------------------- -----------------------------------------------------
Lionel I. Pincus Managing Member, Chairman of the Board and Chief
Executive Officer of WP LLC; Managing Partner of WP
-------------------------- -----------------------------------------------------
Pulak Chandan Prasad (6) Member and Managing Director of WP LLC
-------------------------- -----------------------------------------------------
John D. Santoleri Member and Managing Director of WP LLC; Partner of WP
-------------------------- -----------------------------------------------------
MEMBERS OF WP LLC (continued)
-----------------------------
-------------------------- -----------------------------------------------------
PRESENT PRINCIPAL OCCUPATION IN ADDITION
TO POSITION WITH WP LLC, AND POSITIONS
NAME WITH THE REPORTING ENTITIES
-------------------------- -----------------------------------------------------
Steven G. Schneider Member and Managing Director of WP LLC; Partner of WP
-------------------------- -----------------------------------------------------
Melchior Stahl (3) Member and Managing Director of WP LLC
-------------------------- -----------------------------------------------------
Chang Q. Sun (9) Member and Managing Director of WP LLC
-------------------------- -----------------------------------------------------
Barry Taylor Member and Managing Director of WP LLC, Partner of WP
-------------------------- -----------------------------------------------------
John L. Vogelstein Member and President of WP LLC; Partner of WP
-------------------------- -----------------------------------------------------
Elizabeth H. Weatherman Member and Managing Director of WP LLC; Partner of WP
-------------------------- -----------------------------------------------------
David Wenstrup Member and Managing Director of WP LLC; Partner of WP
-------------------------- -----------------------------------------------------
Jeremy S. Young (7) Member and Managing Director of WP LLC
-------------------------- -----------------------------------------------------
Pincus & Co.*
-------------------------- -----------------------------------------------------
(1) Citizen of France
(2) Citizen of Japan
(3) Citizen of Germany
(4) Citizen of Korea
(5) Citizen of Italy
(6) Citizen of India
(7) Citizen of United Kingdom
(8) Citizen of Canada
(9) Citizen of China
* New York limited partnership; primary activity is ownership interest in WP
and EMW LLC