|
CUSIP NO. 293904108
|
13G
|
PAGE 1 OF
11
|
SECURITIES
AND EXCHANGE COMMISSION
Washington,
DC 20549
SCHEDULE
13G
(Rule
13d-102)
|
INFORMATION
TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO RULES 13d-1(b)(c), AND (d)
AND AMENDMENTS THERETO FILED PURSUANT TO RULE 13d-2(b)
|
(Amendment
No. 1)*
Enzon
Pharmaceuticals, Inc.
(Name of
Issuer)
Common
Stock
(Title of
Class of Securities)
293904108
(CUSIP
Number)
December
31, 2009
(Date of
Event Which Requires Filing of this Statement)
Check the
appropriate box to designate the rule pursuant to which this Schedule is
filed:
[x] Rule
13d-1(b)
[ ] 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
in 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 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.)
|
CUSIP NO. 293904108
|
13G
|
PAGE 2 OF
11
|
|
1.
|
NAME
OF REPORTING PERSON, S.S. OR I.R.S. IDENTIFICATION NO.OF ABOVE
PERSON
|
|
|
The
Baupost Group, L.L.C., 04-3402144
|
|
2.
|
CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP
*
|
|
|
(a)
|
|
|
(b)
X
|
|
3.
|
SEC
USE ONLY
|
|
4.
|
CITIZENSHIP
OR PLACE OF ORGANIZATION
|
|
|
The
Commonwealth of Massachusetts
|
|
|
NUMBER
OF SHARES BENEFICIALLY OWNED BY EACH REPORTING
PERSON:
|
|
5.
|
WITH
SOLE VOTING POWER
|
|
|
0
|
|
6.
|
WITH
SHARED VOTING POWER
|
|
|
8,082,400
|
|
7.
|
WITH
SOLE DISPOSITIVE POWER
|
|
|
0
|
|
8.
|
WITH
SHARED DISPOSITIVE POWER
|
|
|
8,082,400
|
|
9.
|
AGGREGATE
AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
|
|
|
8,082,400
|
|
10.
|
CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES
|
|
|
*
|
|
11.
|
PERCENT
OF CLASS REPRESENTED BY AMOUNT IN ROW
(9)
|
|
|
17.78%
|
|
12.
|
TYPE
OF REPORTING PERSON *
|
|
|
IA
|
|
CUSIP NO. 293904108
|
13G
|
PAGE 3 OF
11
|
|
1.
|
NAME
OF REPORTING PERSON, S.S. OR I.R.S. IDENTIFICATION NO.OF ABOVE
PERSON
|
|
|
Baupost
Value Partners, L.P. –
IV, 26-2208448
|
|
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
|
|
|
NUMBER
OF SHARES BENEFICIALLY OWNED BY EACH REPORTING
PERSON:
|
|
5.
|
WITH
SOLE VOTING POWER
|
|
|
0
|
|
6.
|
WITH
SHARED VOTING POWER
|
|
|
3,304,161
|
|
7.
|
WITH
SOLE DISPOSITIVE POWER
|
|
|
0
|
|
8.
|
WITH
SHARED DISPOSITIVE POWER
|
|
|
3,304,161
|
|
9.
|
AGGREGATE
AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
|
|
|
3,304,161
|
|
10.
|
CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
*
|
|
11.
|
PERCENT
OF CLASS REPRESENTED BY AMOUNT IN ROW
(9)
|
|
|
7.27%
|
|
12.
|
TYPE
OF REPORTING PERSON *
|
|
|
PN
|
|
CUSIP NO. 293904108
|
13G
|
PAGE 4 OF
11
|
|
1.
|
NAME
OF REPORTING PERSON, S.S. OR I.R.S. IDENTIFICATION NO.OF ABOVE
PERSON
|
|
|
SAK
Corporation, 04-3334541
|
|
2.
|
CHECK
THE APPROPRIATE BOX IF A MEMBER OF A GROUP
*
|
|
|
(a)
|
|
|
(b)
X
|
|
3.
|
SEC
USE ONLY
|
|
4.
|
CITIZENSHIP
OR PLACE OF ORGANIZATION
|
|
|
The
Commonwealth of Massachusetts
|
|
|
NUMBER
OF SHARES BENEFICIALLY OWNED BY EACH REPORTING
PERSON:
|
|
5.
|
WITH
SOLE VOTING POWER
|
|
|
0
|
|
6.
|
WITH
SHARED VOTING POWER
|
|
|
8,082,400
|
|
7.
|
WITH
SOLE DISPOSITIVE POWER
|
|
|
0
|
|
8.
|
WITH
SHARED DISPOSITIVE POWER
|
|
|
8,082,400
|
|
9.
|
AGGREGATE
AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
|
|
|
8,082,400
|
|
10.
|
CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
*
|
|
11.
|
PERCENT
OF CLASS REPRESENTED BY AMOUNT IN ROW
(9)
|
|
|
17.78%
|
|
12.
|
TYPE
OF REPORTING PERSON *
|
|
|
HC
|
|
CUSIP NO. 293904108
|
13G
|
PAGE 5 OF
11
|
|
1.
|
NAME
OF REPORTING PERSON, S.S.OR I.R.S. IDENTIFICATION NO.OF ABOVE
PERSON
|
|
|
Seth
A. Klarman
|
|
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 of America
|
|
|
NUMBER
OF SHARES BENEFICIALLY OWNED BY EACH REPORTING
PERSON:
|
|
5.
|
WITH
SOLE VOTING POWER
|
|
|
0
|
|
6.
|
WITH
SHARED VOTING POWER
|
|
|
8,082,400
|
|
7.
|
WITH
SOLE DISPOSITIVE POWER
|
|
|
0
|
|
8.
|
WITH
SHARED DISPOSITIVE POWER
|
|
|
8,082,400
|
|
9.
|
AGGREGATE
AMOUNT BENEFICIALLY OWNED BY EACH REPORTING
PERSON
|
|
|
8,082,400
|
|
10.
|
CHECK
BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES*
|
|
11.
|
PERCENT
OF CLASS REPRESENTED BY AMOUNT IN ROW
(9)
|
|
|
17.78%
|
|
12.
|
TYPE
OF REPORTING PERSON *
|
|
|
HC
|
|
CUSIP NO. 293904108
|
13G
|
PAGE 6 OF
11
|
|
|
Item
1 (a) Name of Issuer:
|
|
|
Enzon
Pharmaceuticals, Inc.
|
|
|
1(b)
Address of Issuer's Principal Executive
Offices:
|
|
|
685
Route 202/206, Bridgewater, New Jersey
08807
|
|
|
Item
2 (a) Name of Person Filing:
|
|
(1)
|
The
Baupost Group, L.L.C.
|
|
(2)
|
Baupost
Value Partners, L.P. - IV
|
|
(3)
|
SAK
Corporation
|
|
(4)
|
Seth
A. Klarman
|
2(b)
Address of Principal Business Offices or, if none, Residence:
|
(1)
|
The
Baupost Group, L.L.C.
|
|
|
10
St. James Avenue, Suite 1700
|
|
|
Boston,
Massachusetts 02116
|
|
(2)
|
Baupost
Value Partners, L.P. - IV
|
|
|
10
St. James Avenue, Suite 1700
|
|
|
Boston,
Massachusetts 02116
|
|
(3)
|
SAK
Corporation
|
|
|
10
St. James Avenue, Suite 1700
|
|
|
Boston,
Massachusetts 02116
|
|
(4)
|
Seth
A. Klarman
|
|
|
10
St. James Avenue, Suite 1700
|
|
|
Boston,
Massachusetts 02116
|
|
|
2(c)
Citizenship:
|
|
(1)
|
The
Commonwealth of Massachusetts
|
|
(2)
|
Delaware
|
|
(3)
|
The
Commonwealth of Massachusetts
|
|
(4)
|
United
States of America
|
|
|
2(d)
Title of Class of Securities:
|
|
|
Common
Stock
|
|
|
2(e)
CUSIP Number:
|
|
|
293904108
|
|
CUSIP NO. 293904108
|
13G
|
PAGE 7 OF
11
|
Item 3 If
this statement is filed pursuant to SS240.13d-1(b) or 240.13d-2(b) or (c), check
whether the person filing is a:
|
(a)
|
[ ]Broker
or Dealer registered under Section 15 of the Act (15 U.S.C.
78o).
|
|
(b)
|
[ ]Bank
as defined in Section 3(a)(6) of the Act (15 U.S.C.
78c).
|
|
(c)
|
[ ]Insurance
Company as defined in Section 3(a)(19) of the Act (15 U.S.C.
78c).
|
|
(d)
|
[ ]Investment
Company registered under Section 8 of the Investment Company Act of 1940
(15 U.S.C. 80a-8).
|
|
(e)
|
[X]An
investment advisor in accordance with
S240.13d-1(b)(1)(ii)(E).
|
|
(f)
|
[ ]An
employee benefit plan or endowment fund in accordance with
S240.13d-1(b)(1)(ii)(F).
|
|
(g)
|
[X]A
parent holding company or control person in accordance with
S240.13d-1(b)(ii)(G).
|
|
(h)
|
[ ]A
savings association as defined in Section 3(b) of the Federal
Deposit Insurance Act (12 U.S.C.
1813).
|
|
(i)
|
[ ]
A church plan that is excluded from the definition of an investment
company under Section 3(c)(14) of the Investment Company Act of 1940 (15
U. S.C. 80a-3).
|
|
(j)
|
[ ]Group,
in accordance with
S240.13d-1(b)(1)(ii)(J).
|
|
|
Item
4 Ownership:
|
Provide
the following information regarding the aggregate number and percentage of the
class of securities of the issuer identified in Item 1.
|
(a)
|
Amount
Beneficially Owned: (as of December 31,
2009)
|
|
|
(1)
|
The
Baupost Group, L.L.C.: 8,082,400
|
|
|
(2)
|
Baupost
Value Partners, L.P. - IV 3,304,161
|
|
|
(2)
|
SAK
Corporation: 8,082,400
|
|
|
(3)
|
Seth
A. Klarman: 8,082,400
|
|
CUSIP NO. 293904108
|
13G
|
PAGE 8 OF
11
|
|
(b)
|
Percent
of Class:
|
|
|
(1)
|
The
Baupost Group, L.L.C.: 17.78%
|
(2) Baupost Value
Partners, L.P. – IV: 7.27%
|
|
(3)
|
SAK
Corporation: 17.78%
|
|
|
(4)
|
Seth
A. Klarman: 17.78%
|
|
(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)
|
The
Baupost Group, L.L.C.: 8,082,400
|
|
|
(2)
|
Baupost
Value Partners, L.P. - IV 3,304,161
|
|
|
(2)
|
SAK
Corporation: 8,082,400
|
|
|
(3)
|
Seth
A. Klarman: 8,082,400
|
|
(iii)
|
sole
power to dispose or to direct the disposition
of
|
|
|
---0
|
|
(iv)
|
shared
power to dispose or to direct the disposition
of
|
|
|
(1)
|
The
Baupost Group, L.L.C.: 8,082,400
|
|
|
(2)
|
Baupost
Value Partners, L.P. - IV 3,304,161
|
|
|
(2)
|
SAK
Corporation: 8,082,400
|
|
|
(3)
|
Seth
A. Klarman: 8,082,400
|
Instruction: For
computations regarding securities which represent a right to acquire an
underlying security seess.240.13d-3(d)(1).
|
CUSIP NO. 293904108
|
13G
|
PAGE 9 OF
11
|
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 [_].
Instruction:
Dissolution of a group requires a response to this item.
Item 6
Ownership of More than Five Percent on behalf of Another Person:
This statement on
Schedule 13G is being jointly filed by The
Baupost Group, L.L.C. ("Baupost"), Baupost Value Partners, L.P.-IV,
SAK Corporation and Seth A. Klarman. Baupost is
a registered investment adviser and
acts as an
investment adviser and general partner to certain investment limited
partnerships, including Baupost Value Partners, L.P. IV. SAK
Corporation is the Manager of
Baupost. Mr. Klarman, as the sole director and
sole officer of SAK Corporation and
a controlling person of Baupost, may be deemed to have
beneficial ownership under Section 13(d) of the Securities Exchange
Act of 1934 of the securities beneficially owned by
Baupost. Securities reported on this
statement on Schedule 13G
as being beneficially owned
by Baupost include
securities purchased on behalf
of various investment limited partnerships,
including Baupost Value Partners, L.P.-IV.
Item 7
Identification and Classification of the Subsidiary Which Acquired the Security
Being Reported on By the Parent Holding Company:
|
|
See
attached Exhibit A
|
Item 8
Identification and Classification of members of the Group:
|
|
N/A
|
Item 9
Notice of Dissolution of Group:
|
|
N/A
|
|
CUSIP NO. 293904108
|
13G
|
PAGE 10 OF
11
|
Item 10
Certification:
By
signing below I certify that, to the best of my knowledge and belief, the
securities referred to above were acquired in the ordinary course of business
and were not acquired 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.
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.
February
12, 2010
Date
THE
BAUPOST GROUP, L.L.C.
|
By:
|
/s/
Seth A. Klarman
|
|
|
Seth
A. Klarman
|
|
|
President
|
BAUPOST
VALUE PARTNERS, L.P. – IV
By: The
Baupost Group, L.L.C., its
managing
general partner
|
By:
|
/s/
Seth A. Klarman
|
|
|
Seth
A. Klarman
|
|
|
President
|
SAK
CORPORATION
|
By:
|
/s/
Seth A. Klarman
|
|
|
Seth
A. Klarman
|
|
|
President
|
SETH A.
KLARMAN
|
By:
|
/s/
Seth A. Klarman
|
|
|
Seth
A. Klarman
|
|
CUSIP NO. 293904108
|
13G
|
PAGE 11 OF
11
|
EXHIBIT
A
Item 3
& Item 7
|
|
(1)
|
The
Baupost Group, L.L.C. IA
|
|
|
(2)
|
Baupost
Value Partners, L.P. – IV PN
|
|
|
(3)
|
SAK
Corporation HC
|
|
|
(4)
|
Seth
A. Klarman HC
|
This statement on
Schedule 13G is being jointly filed by The
Baupost Group, L.L.C. ("Baupost"), Baupost Value Partners, L.P.-IV,
SAK Corporation and Seth A. Klarman. Baupost is
a registered investment adviser and
acts as an
investment adviser and general partner to certain investment limited
partnerships, including Baupost Value Partners, L.P. IV. SAK
Corporation is the Manager of
Baupost. Mr. Klarman, as the sole director and
sole officer of SAK Corporation and
a controlling person of Baupost, may be deemed to have
beneficial ownership under Section 13(d) of the Securities Exchange
Act of 1934 of the securities beneficially owned by
Baupost. Securities reported on this
statement on Schedule 13G
as being beneficially owned
by Baupost include
securities purchased on behalf
of various investment limited partnerships,
including Baupost Value Partners, L.P.-IV.
Pursuant
to Rule 13d-4, Seth A. Klarman and SAK Corporation declare that the filing of
this Schedule 13G shall not be deemed an admission by either or both of them
that they are, for the purposes of Sections 13(d) or 13(g) of the Securities
Exchange Act of 1934 the beneficial owner of any securities covered by this
Schedule 13G, and further disclaim beneficial ownership of the securities that
are the subject of this filing, except to the extent of their pecuniary interest
therein.