Item 1. Security and Issuer.
This statement relates to the Common Stock, par value $0.001 (the “Shares”), issued by Aegerion Pharmaceuticals, Inc. (the “Issuer”). The address of the principal executive offices of the Issuer is One Main Street, Suite 800, Cambridge, Massachusetts 02142.
Item 2. Identity and Background.
The persons filing this statement are Sarissa Capital Management LP, a Delaware limited partnership (“Sarissa Capital”), Sarissa Capital Offshore Master Fund LP, a Cayman Islands exempted limited partnership (“Sarissa Offshore”), Sarissa Capital Domestic Fund LP, a Delaware limited partnership (“Sarissa Domestic”), and Alexander J. Denner, Ph.D., a citizen of the United States of America (collectively, the “Reporting Persons”).
The principal business address of (i) each of Sarissa Capital, Sarissa Domestic and Dr. Denner is c/o Sarissa Capital Management LP, 660 Steamboat Road, 3rd Floor, Greenwich, CT 06830 and (ii) Sarissa Offshore is c/o Ogier Fiduciary Services (Cayman) Limited, 89 Nexus Way, Camana Bay, Grand Cayman KY1-9007, Cayman Islands.
Sarissa Capital’s principal business is serving as investment advisor to private investment funds, including Sarissa Domestic and Sarissa Offshore (collectively, the “Sarissa Funds”). The ultimate general partner of each of Sarissa Capital, Sarissa Domestic and Sarissa Offshore is controlled by Dr. Denner. Dr. Denner’s principal occupation is serving as the Chief Investment Officer of Sarissa Capital.
The name, citizenship, present principal occupation or employment and business address of each director and executive officer of the Reporting Persons are set forth in Schedule A attached hereto.
None of the Reporting Persons nor any manager or executive officer of the Reporting Persons, has, during the past five years, (a) been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors), or (b) been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting, or mandating activities subject to, Federal or State securities laws or a finding of any violation with respect to such laws.
Item 3. Source or Amount of Funds or Other Consideration.
The Reporting Persons may be deemed to be the beneficial owner of, in the aggregate, 1,637,455 Shares. The aggregate purchase price of the Shares purchased by the Reporting Persons collectively was approximately $39.7 million (including commissions). The source of funding for these Shares was the general working capital of the respective purchasers.
Item 4. Purpose of Transaction.
The Reporting Persons acquired the Shares with the belief that the Shares were undervalued. The Reporting Persons expect to engage in discussions with the Issuer regarding its investment in the Shares. The Reporting Persons will continue to review their investment on an on-going basis and reserve the right to, from time to time and at any time: (i) acquire additional Shares and/or other equity, debt, notes, instruments or other securities (collectively, “Securities”) of the Issuer in the open market or otherwise; (ii) dispose of any or all of their Securities in the open market or otherwise; or (iii) engage in any hedging or similar transactions with respect to the Securities.
CUSIP No. 00767E102 | Page 7 of 10 Pages |
SCHEDULE 13D
Item 5. Interest in Securities of the Issuer.
(a) The Reporting Persons may be deemed to beneficially own, in the aggregate, 1,637,455 Shares representing approximately 5.76% of the Issuer's outstanding Shares (based upon the 28,435,998 Shares stated to be outstanding as of October 31, 2014 by the Issuer in the Issuer’s Form 10−Q for the quarterly period ended September 30, 2014).
(b) For purposes of this Schedule 13D:
Sarissa Domestic has sole voting power and sole dispositive power with regard to 993,908 Shares. Sarissa Offshore has sole voting power and sole dispositive power with regard to 643,547 Shares. Sarissa Capital, as the investment advisor to the Sarissa Funds, may be deemed to have the shared power to vote or direct the vote of (and the shared power to dispose or direct the disposition of) the 1,637,455 Shares held by the Sarissa Funds. By virtue of his position as the Chief Investment Officer of Sarissa Capital and as the managing member of Sarissa Capital’s general partner, Dr. Denner may be deemed to have the shared power to vote or direct the vote of (and the shared power to dispose or direct the disposition of) the 1,637,455 Shares held by the Sarissa Funds.
(c) The following table sets forth all transactions with respect to Shares effected during the past sixty (60) days by any of the Reporting Persons, inclusive of any transactions effected through 4:00 p.m., New York City time, on February 4, 2015. Except as otherwise noted below, all such transactions were purchases of Shares effected in the open market.
Name of Reporting Person | Date of Transaction | Amount of Securities | Price Per Share ($) |
Sarissa Domestic | January 14, 2015 | 106,243 | 24.18 |
Sarissa Domestic | January 15, 2015 | 51,389 | 23.0 |
Sarissa Domestic | January 20, 2015 | 133,794 | 24.94 |
Sarissa Domestic | January 21, 2015 | 101,395 | 24.31 |
Sarissa Domestic | January 22, 2015 | 91,860 | 24.4 |
Sarissa Domestic | January 23, 2015 | 121,428 | 24.66 |
Sarissa Domestic | January 26, 2015 | 145,713 | 24.93 |
Sarissa Domestic | January 29, 2015 | 103,213 | 23.45 |
Sarissa Domestic | January 30, 2015 | 121,425 | 23.27 |
Sarissa Domestic | February 3, 2015 | 4,003 | 23.31 |
Sarissa Domestic | February 4, 2015 | 13,445 | 23.33 |
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Sarissa Offshore | January 14, 2015 | 68,757 | 24.18 |
Sarissa Offshore | January 15, 2015 | 33,242 | 23.0 |
Sarissa Offshore | January 20, 2015 | 86,575 | 24.94 |
Sarissa Offshore | January 21, 2015 | 65,610 | 24.31 |
Sarissa Offshore | January 22, 2015 | 59,440 | 24.4 |
Sarissa Offshore | January 23, 2015 | 78,572 | 24.66 |
Sarissa Offshore | January 26, 2015 | 94,287 | 24.93 |
Sarissa Offshore | January 29, 2015 | 66,787 | 23.45 |
Sarissa Offshore | January 30, 2015 | 78,575 | 23.27 |
Sarissa Offshore | February 3, 2015 | 2,997 | 23.31 |
Sarissa Offshore | February 4, 2015 | 8,705 | 23.33 |
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