Processa Pharmaceuticals, Inc. — Major Shareholding Notification 2020

Oct 13, 2020

SC 13G 1 d8630865_13-g.htm

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934

(Amendment No. )*

Processa Pharmaceuticals, Inc.
(Name of Issuer)

Common Stock, $0.0001 par value
(Title of Class of Securities)

74275C106
(CUSIP Number)

October 2, 2020
(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

[_] Rule 13d-1(b)

[X] 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 ("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).

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CUSIP No 74275C106

1.	NAME OF REPORTING PERSONS
	I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
	Manchester Explorer, L.P.
2.	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
		(a) [_]
		(b) [_]
3.	SEC USE ONLY
4.	CITIZENSHIP OR PLACE OF ORGANIZATION
	Delaware
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
5.	SOLE VOTING POWER
	0
6.	SHARED VOTING POWER
	1,000,000
7.	SOLE DISPOSITIVE POWER
	0
8.	SHARED DISPOSITIVE POWER
	1,000,000
9.	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
	1,000,000
10.	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
	EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)	[_]
11.	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
	7.4%
12.	TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
	PN

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CUSIP No. 74275C106

1.	NAME OF REPORTING PERSONS
	I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
	Manchester Management Company, LLC
2.	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
		(a) [_]
		(b) [_]
3.	SEC USE ONLY
4.	CITIZENSHIP OR PLACE OF ORGANIZATION
	Delaware
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
5.	SOLE VOTING POWER
	0
6.	SHARED VOTING POWER
	1,125,000
7.	SOLE DISPOSITIVE POWER
	0
8.	SHARED DISPOSITIVE POWER
	1,125,000
9.	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
	1,125,000
10.	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
	EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)	[_]
11.	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
	8.3%
12.	TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
	OO

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CUSIP No. 74275C106

1.	NAME OF REPORTING PERSONS
	I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
	Manchester Management PR, LLC
2.	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
		(a) [_]
		(b) [_]
3.	SEC USE ONLY
4.	CITIZENSHIP OR PLACE OF ORGANIZATION
	Puerto Rico
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
5.	SOLE VOTING POWER
	0
6.	SHARED VOTING POWER
	1,125,000
7.	SOLE DISPOSITIVE POWER
	0
8.	SHARED DISPOSITIVE POWER
	1,125,000
9.	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
	1,125,000
10.	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
	EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)	[_]
11.	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
	8.3%
12.	TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) OO

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CUSIP No. 74275C106

1.	NAME OF REPORTING PERSONS
	I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
	JEB Partners, L.P.
2.	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
		(a) [_]
		(b) [_]
3.	SEC USE ONLY
4.	CITIZENSHIP OR PLACE OF ORGANIZATION
	Delaware
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
5.	SOLE VOTING POWER
	0
6.	SHARED VOTING POWER
	125,000
7.	SOLE DISPOSITIVE POWER
	0
8.	SHARED DISPOSITIVE POWER
	125,000
9.	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
	125,000
10.	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
	EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)	[_]
11.	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
	0.9%
12.	TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
	OO

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CUSIP No. 74275C106

1.	NAME OF REPORTING PERSONS
	I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
	James E. Besser
2.	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
		(a) [_]
		(b) [_]
3.	SEC USE ONLY
4.	CITIZENSHIP OR PLACE OF ORGANIZATION
	United States of America
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
5.	SOLE VOTING POWER
	405,000
6.	SHARED VOTING POWER
	1,125,000
7.	SOLE DISPOSITIVE POWER
	405,000
8.	SHARED DISPOSITIVE POWER
	1,125,000
9.	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
	1,530,000
10.	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
	EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)	[_]
11.	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
	11.2%
12.	TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
	IN

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CUSIP No. 74275C106

1.	NAME OF REPORTING PERSONS
	I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
	Morgan C. Frank
2.	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
		(a) [_]
		(b) [_]
3.	SEC USE ONLY
4.	CITIZENSHIP OR PLACE OF ORGANIZATION
	United States of America
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
5.	SOLE VOTING POWER
	62,500
6.	SHARED VOTING POWER
	1,125,000
7.	SOLE DISPOSITIVE POWER
	62,500
8.	SHARED DISPOSITIVE POWER
	1,125,000
9.	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
	1,187,000
10.	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9)
	EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)	[_]
11.	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
	8.7%
12.	TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
	IN

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CUSIP No. 74275C106

Item 1.	(a).	Name of Issuer:
		Processa Pharmaceuticals, Inc.
	(b).	Address of issuer's principal executive offices:
		7380
Coca Cola Drive, Suite 106 Hanover,
MD 21076
Item 2.	(a).	Names of persons filing:
		Manchester
Explorer, L.P. Manchester
Management Company, LLC Manchester
Management PR, LLC JEB Partners,
L.P. James
E. Besser Morgan
C. Frank

(b).	Address or principal business office or, if none, residence:
	Manchester Explorer, L.P. c/o
Manchester Management Company, LLC 2 Calle Candina, #1701 San Juan, Puerto Rico, 00907 United States of America Manchester
Management Company, LLC 2 Calle Candina, #1701 San Juan, Puerto Rico, 00907 United States of America Manchester Management PR, LLC 2 Calle Candina, #1701 San Juan, Puerto Rico, 00907 United States of America JEB Partners, L.P. 2 Calle Candina, #1701 San Juan, Puerto Rico, 00907 United States of America James E. Besser c/o Manchester Management Company, LLC 2 Calle Candina, #1701 San Juan, Puerto Rico, 00907 United States of America Morgan C. Frank c/o Manchester Management Company, LLC 2 Calle Candina, #1701 San Juan, Puerto Rico, 00907 United States of America
(c).	Citizenship:
	Manchester
Explorer, L.P. – Delaware limited partnership Manchester
Management Company, LLC – Delaware limited liability company Manchester
Management PR, LLC - Puerto Rico limited liability company JEB Partners,
L.P. – Delaware limited partnership James
E. Besser – United States of America Morgan
C. Frank – United States of America
(d).	Title of class of securities:
	Common Stock, $0.0001 par value
(e).	CUSIP No.:
	74275C106

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| Item 3. — (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) | [] | An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E); |
| (f) | [] | An employee benefit plan or endowment fund in accordance with §
240.13d-1(b)(1)(ii)(F); |
| (g) | [] | A parent holding company or control person in accordance with §240.13d-1(b)(1)(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) | [] | A non-U.S. institution in accordance with §240.13d-1(b)(1)(ii)(J); |
| (k) | [_] | Group, in accordance with §240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with §240.13d-1(b)(1)(ii)(J), please specify the type of institution: |
| 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:
	Manchester Explorer, L.P.
– 1,000,000 Manchester
Management Company, LLC – 1,125,000 Manchester
Management PR, LLC – 1,125,000 JEB Partners, L.P. – 125,000 James E. Besser – 1,530,000 Morgan C. Frank – 62,500
(b)	Percent of class:
	Manchester Explorer, L.P.
– 7.4% Manchester
Management Company, LLC – 8.3 % Manchester
Management PR, LLC – 8.3% JEB Partners, L.P. –
0.9% James E. Besser – 11.2% Morgan C. Frank – 8.7%

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(c)
(i)	Sole power to vote or to direct the vote
	Manchester Explorer, L.P. - 0
	Manchester Management Company, LLC – 0
	Manchester Management PR, LLC - 0
	JEB Partners, L.P. – 0
	James E. Besser – 405,000
	Morgan C. Frank – 62,500
(ii)	Shared power to vote or to direct the vote
	Manchester Explorer, L.P. – 1,000,000
	Manchester Management Company, LLC – 1,125,000
	Manchester
Management PR, LLC – 1,125,000
	JEB Partners, L.P. – 125,000
	James E. Besser – 1,125,000
	Morgan C. Frank –1,187,500

		Sole power to dispose or to direct the disposition of
		Manchester Explorer, L.P. – 0
		Manchester Management Company, LLC – 0
		Manchester Management PR, LLC - 0
		JEB Partners, L.P. – 0
		James E. Besser – 405,000
		Morgan C. Frank – 62,500
	(iv)	Shared power to dispose or to direct the disposition of
		Manchester Explorer, L.P. – 1,000,000
		Manchester Management Company, LLC – 1,125,000
		Manchester Management PR, LLC – 1,125,000
		JEB Partners, L.P. – 125,000
		James E. Besser – 1,530,000
		Morgan C. Frank – 1,187,500
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 [_].
	N/A

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Item 6.	Ownership of More Than Five Percent on Behalf of Another Person.
	If any other person 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, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.
	N/A
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.

| | If a parent holding company or control person has filed this schedule,
pursuant to Rule 13d-1(b)(1)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification
of the relevant subsidiary. If a parent holding company or control person has filed this schedule pursuant to Rule 13d-1(c) or
Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. |
| --- | --- |
| | N/A |
| Item 8. | Identification and Classification of Members of the Group. |
| | If a group has filed this schedule pursuant
to §240.13d-1(b)(1)(ii)(J), so indicate under Item 3(j) and attach an exhibit stating the identity and Item 3 classification
of each member of the group. If a group has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating
the identity of each member of the group. |
| | N/A |

Item 9.	Notice of Dissolution of Group.
	Notice of dissolution of a group may be furnished
as an exhibit stating the date of the dissolution and that all further filings with respect to transactions in the security reported
on will be filed, if required, by members of the group, in their individual capacity. See Item 5.
	N/A
Item 10.	Certification.
	By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held 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, other than activities solely in connection with a nomination under § 240.14a-11.

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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.

October 13, 2020
(Date)
MANCHESTER EXPLORER, L.P.*
/s/ James E. Besser
(Signature)
James E. Besser, Managing Member of the General Partner
(Name/Title)
Manchester Management Company, LLC*
/s/ James E. Besser
(Signature)
James E. Besser, Managing Member
(Name/Title)
Manchester Management PR, LLC*
/s/ James E. Besser
(Signature)
James E. Besser, Managing Member
(Name/Title)
JAMES E. BESSER
/s/ James E. Besser
(Signature)
James E. Besser, Managing Member
(Name/Title)
MORGAN C. FRANK
/s/ Morgan C. Frank
(Signature)

• The Reporting Person disclaims beneficial ownership in the common stock reported herein except to the extent of his pecuniary interest therein.

The original statement shall be signed by each person on whose behalf the statement is filed or his authorized representative. If the statement is signed on behalf of a person by his authorized representative other than an executive officer or general partner of the filing person, evidence of the representative's authority to sign on behalf of such person shall be filed with the statement, provided, however, that a power of attorney for this purpose which is already on file with the Commission may be incorporated by reference. The name and any title of each person who signs the statement shall be typed or printed beneath his signature.

Note. Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See s.240.13d-7 for other parties for whom copies are to be sent.

Attention. Intentional misstatements or omissions of fact constitute Federal criminal violations (see 18 U.S.C. 1001).

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Exhibit A

AGREEMENT

The undersigned agree that this Schedule 13G dated October 13, 2020 relating to the Common Stock, $0.0001 par value , of Processa Pharmaceuticals, Inc. shall be filed on behalf of the undersigned.

October 13, 2020
(Date)
MANCHESTER EXPLORER, L.P.
/s/ James E. Besser
(Signature)
James E. Besser, Managing Member of the General Partner
(Name/Title)
Manchester Management Company, LLC
/s/ James E. Besser
(Signature)
James E. Besser, Managing Member
(Name/Title)
Manchester Management PR, LLC
/s/ James E. Besser
(Signature)
James E. Besser, Managing Member
(Name/Title)
JAMES E. BESSER
/s/ James E. Besser
(Signature)
James E. Besser, Managing Member
(Name/Title)
MORGAN C. FRANK
/s/ Morgan C. Frank
(Signature)