SIGA TECHNOLOGIES INC — Director's Dealing 2003

Oct 10, 2003

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: SIGA TECHNOLOGIES INC (SIGA)
CIK: 0001010086
Period of Report: 2003-10-08

Reporting Person: TRANSTECH PHARMA INC (10% Owner)

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Option (right to buy)	$1.44	2003-10-13	Common Stock, par value $0.0001 per share ("Common Stock") (3472222)		Direct
Option (right to buy)	$	2003-10-13	Warrant (1736111)		Direct

Footnotes

F1: On August 13, 2003, MacAndrews & Forbes Holdings Inc. ("Holdings"), and SIGA Technologies, Inc. (the "Company") entered into a Securities Purchase Agreement (the "Purchase Agreement"). Pursuant to the Purchase Agreement, Holdings acquired an option (the "SIGA Option"), exercisable from time to time, to purchase (a) up to 6,146,875 shares of Common Stock ("Tranche B Shares") at a per share purchase price of $1.44 and (b) a warrant to purchase a number of shares of Common Stock equal to 50% of the number of Tranche B Shares, exercisable for $2.00 per share, for no additional consideration. On October 8, 2003, in accordance with the Purchase Agreement, Holdings assigned a portion of the SIGA Option to the filing person, for no consideration. The filing person and Holdings are each affiliated with Ronald Perelman. Mr. Perelman disclaims benefical ownership of all securities reported on this Form 3, except to the extent of his pecuniary interest therein.