SEC FORM 4

SEC Form 4

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^*

ALONIM INVESTMENTS INC

(Last)

(First)

(Middle)

1501 MCGILL COLLEGE AVENUE

26TH FLOOR

(Street)

MONTREAL

H3A 3N9

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
SIPEX CORP [ SIPX ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

Director	X	10% Owner
Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
08/25/2007

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
common stock	08/25/2007		D⁽¹⁾		11,366,383	D	$0⁽²⁾	0	I	through wholly owned subsidiary Rodfre Holding LLC
common stock	08/25/2007		M⁽⁴⁾		2,798,507	A	$5.36	11,366,383	I	through wholly owned subsidiary Rodfre Holding LLC

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
$15 Million 5.5% convertible Senior Note due 2026	$5.36⁽⁴⁾	08/25/2007		C⁽¹⁾			1	05/18/2006	05/18/2026	common stock	2,798,507⁽³⁾	$15,000,000	0	I	Through wholly owned subsidiary Rodfre Holding LLC

Explanation of Responses:

1. This deemed disposition is as a result of the Sipex Corp.-Exar Corporation merger agreement, which is effective August 25 2007 at midnight. The Reporting Party received stock of Exar for its Sipex stock.

2. See footnote 1. For each share of Sipex common stock, the reporting party received 0.6679 share of Exar common stock. Hence for 8,567,876 shares of Sipex common stock, the reporting party received 5,722,484 shares of Exar common stock.

3. The Note states a conversion rate of 2.68. However, as a result of the 2007 2:1 reverse stock split affecting Sipex stock, a 5.36 conversion rate was used.

4. This acquisition is as a result of the conversion of the $15 million Convertible Senior Note due 2026 reported below.

	(s) Guy Lavergne	08/28/2007
	** 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).
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