| FORM 4 | UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). | ||||||||||||||||||||
1. Name and Address of Reporting Person*
(Street)
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2. Issuer Name and Ticker or Trading Symbol
HYTHIAM INC [ HYTM ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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| 3. Date of Earliest Transaction
(Month/Day/Year) 04/22/2008 |
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| 4. If Amendment, Date of Original Filed
(Month/Day/Year) |
6. Individual or Joint/Group Filing (Check Applicable Line)
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| Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ||||||||||
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| 1. Title of Security (Instr. 3) | 2. Transaction Date (Month/Day/Year) | 2A. Deemed Execution Date, if any (Month/Day/Year) | 3. Transaction Code (Instr. 8) | 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) | 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) | 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 7. Nature of Indirect Beneficial Ownership (Instr. 4) | |||
| Code | V | Amount | (A) or (D) | Price | ||||||
| Common Stock | 04/22/2008 | P | 300 | A | $1.795 | 1,483,411 (1) | I | Via Prime Logic Capital, LLC (2) | ||
| Common Stock | 04/22/2008 | P | 99,700 | A | $1.8 | 1,583,111 | I | Via Prime Logic Capital, LLC (2) | ||
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities) |
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| 1. Title of Derivative Security (Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) | 6. Date Exercisable and Expiration Date (Month/Day/Year) | 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) | 8. Price of Derivative Security (Instr. 5) | 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) | 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) | ||||
| Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
| Warrants (Right to buy) | $5.75 | 11/07/2007 | P | 260,960 | 11/07/2007 | 11/07/2012 | Common Stock | 260,960 | $5.75 | 360,960 | I | see footnote (1) | |||
| Explanation of Responses: |
| 1. This filing includes corrections to the total share ownership by the reporting person as the reportingperson acquired 1,043,824 shares on November 7, 2007 through a private placement along with260,960 warrants pursuant to a Common Stock Purchase Warrant Agreement, immediatelyexercisable with a five-year exercise period. The reporting person also acquired 222,222 sharesof stock of the Company in December 2004, as reflected in the December 16, 2004 filing. Theseshares were inadvertently excluded from prior filings. |
| 2. The reporting person is a managing partner of Prime Logic Capital, LLC, investmentmanager for CPS Opportunities I, LLC, Prime Logic, LP, GPC LXI, LLC, and GPX 78, thebeneficial owners of the securities. He disclaims beneficial ownership of the reported securities,except to the extent of any pecuniary interest therein. This report should not be deemed anadmission that the reporting person is the beneficial owner of the securities for purposes ofSection 16 of the Securities and Exchange Act of 1934, as amended, or for any purpose. |
| /s/ Marc G. Cummins | 04/25/2008 | |
| ** Signature of Reporting Person | Date | |
| Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | ||
| * If the form is filed by more than one reporting person, see Instruction 4 (b)(v). | ||
| ** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). | ||
| Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
| Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. | ||