UNITED STATES
SECURITIES EXCHANGE COMMISSION
Washington, D.C. 20549
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SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. )
FIBROCELL SCIENCE, INC.
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(Name of Issuer)
Common Stock, $0.001 par value per share
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(Title of Class of Securities)
315721100
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(CUSIP Number)
November 11, 2009
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(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).
Continued on following pages
Page 1 of 10 Pages
Exhibit Index: Page 9
Page 2 of 10 Pages
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1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
AKANTHOS CAPITAL MANAGEMENT, LLC
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2. Check the Appropriate Box if a Member of a Group
(a) [ ]
(b) [ ]
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3. SEC Use Only
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4. Citizenship or Place of Organization
Delaware
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5. Sole Voting Power 1,581,565
Number of Shares ---------------------------------------------------------
Beneficially Owned 6. Shared Voting Power None
by Each Reporting ---------------------------------------------------------
Person With 7. Sole Dispositive Power 1,581,565
---------------------------------------------------------
8. Shared Dispositive Power None
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9. Aggregate Amount Beneficially Owned by Each Reporting Person
1,581,565
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10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
(See Instructions)
[ ]
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11. Percent of Class Represented by Amount in Row (9)
10.78% based on 14,666,666 Shares outstanding as of
November 20, 2009.
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12. Type of Reporting Person:
OO
Page 3 of 10 Pages
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Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
AKANTHOS ARBITRAGE MASTER FUND, L.P.
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Check the Appropriate Box if a Member of a Group
(a) [ ]
(b) [ ]
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SEC Use Only
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Citizenship or Place of Organization
Cayman Islands
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13. Sole Voting Power 1,320,700
Number of Shares ---------------------------------------------------------
Beneficially Owned 14. Shared Voting Power None
by Each Reporting ---------------------------------------------------------
Person With 15. Sole Dispositive Power 1,320,700
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16. Shared Dispositive Power None
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Aggregate Amount Beneficially Owned by Each Reporting Person
1,320,700
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Check if the Aggregate Amount in Row (9) Excludes Certain Shares
(See Instructions)
[ ]
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Percent of Class Represented by Amount in Row (9)
9.00% based on 14,666,666 Shares outstanding as of November 20, 2009.
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Type of Reporting Person:
PN
Page 4 of 10 Pages
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1. Names of Reporting Persons.
I.R.S. Identification Nos. of above persons (entities only).
MICHAEL KAO
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2. Check the Appropriate Box if a Member of a Group
(a) [ ]
(b) [ ]
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3. SEC Use Only
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4. Citizenship or Place of Organization
United States of America
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5. Sole Voting Power 1,581,565
Number of Shares ---------------------------------------------------------
Beneficially Owned 6. Shared Voting Power None
by Each Reporting ---------------------------------------------------------
Person With 7. Sole Dispositive Power 1,581,565
---------------------------------------------------------
8. Shared Dispositive Power None
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9. Aggregate Amount Beneficially Owned by Each Reporting Person
1,581,565
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10. Check if the Aggregate Amount in Row (9) Excludes Certain Shares
(See Instructions)
[ ]
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11. Percent of Class Represented by Amount in Row (9)
10.78% based on 14,666,666 Shares outstanding as of November 20, 2009.
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12. Type of Reporting Person:
IN
Page 5 of 10 Pages
Item 1(a). Name of Issuer:
Fibrocell Science, Inc. (the "Issuer")
Item 1(b). Address of Issuer's Principal Executive Offices:
405 Eagleview Boulevard, Exton, Pennsylvania 19341
Item 2(a). Name of Person Filing
This Statement is filed on behalf of each of the following
persons (collectively, the "Reporting Persons"):
i) Akanthos Capital Management, LLC ("Akanthos Capital
Management");
ii) Akanthos Arbitrage Master Fund, L.P., ("Akanthos Master
Fund"); and
iii) Michael Kao ("Mr. Kao").
This Statement relates to Shares (as defined herein) held for
the account of Akanthos Master Fund and for the account of certain managed
account ("Managed Account"). Akanthos Capital Management serves as investment
manager and general partner to Akanthos Master Fund and serves as investment
advisor to the Managed Account. In such capacity, Akanthos Capital Management
may be deemed to have voting and dispositive power over the Shares held for
Akanthos Master Fund and the Managed Account. Mr. Kao is the Manager of Akanthos
Capital Management. In such capacity, Mr. Kao may be deemed to have voting and
dispositive power over the Shares held for Akanthos Master Fund and the Managed
Account.
Item 2(b). Address of Principal Business Office or, if None, Residence:
The address of the principal business office of each of
Akanthos Capital Management and Mr. Kao is 21700 Oxnard St., Suite 1520,
Woodland Hills CA 91367-7584.
The address of the principal business office for Akanthos
Master Fund is c/o Appleby Corporate Services (Cayman) Ltd., Clifton House, 75
Fort Street, P.O. Box 1350 GT, Grand Cayman, Cayman Islands.
Item 2(c). Citizenship:
i) Akanthos Capital Management is a Delaware limited
liability company;
ii) Akanthos Master Fund is a Cayman Islands limited
partnership; and
iii) Mr. Kao is a citizen of the United States of America.
Item 2(d). Title of Class of Securities:
Common Stock (the "Shares")
Item 2(e). CUSIP Number:
315721100
Page 6 of 10 Pages
Item 3. If This Statement is Filed Pursuant to ss.ss.240.13d-1(b) or
240.13d-2(b) or (c), Check Whether the Person Filing is a:
This Item 3 is not applicable.
Item 4. Ownership:
Item 4(a) Amount Beneficially Owned:
As of November 11, 2009, each of Akanthos Capital Management
and Mr. Kao may be deemed to be the beneficial owner of 1,581,565 Shares. This
amount consists of: (A) 1,320,700 Shares held for the account of Akanthos Master
Fund; and (B) 260,865 Shares held for the account of the Managed Account.
Item 4(b) Percent of Class:
The number of Shares of which each of Akanthos Capital
Management and Mr. Kao may be deemed to be the beneficial owner constitutes
approximately 10.78% of the total number of Shares outstanding. The number of
Shares of which Akanthos Master Fund may be deemed to be the beneficial owner
constitutes approximately 9.00% of the total number of Shares outstanding.
(Based upon information provided in the Issuer's Form 10-Q filed on November 24,
2009, there were approximately 14,666,666 Shares outstanding as of November 20,
2009).
Item 4(c) Number of Shares of which such person has:
Akanthos Capital Management and Mr. Kao:
----------------------------------------
(i) Sole power to vote or direct the vote: 1,581,565
(ii) Shared power to vote or direct the vote: 0
(iii) Sole power to dispose or direct the disposition of: 1,581,565
(iv) Shared power to dispose or direct the disposition of: 0
Akanthos Master Fund:
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(i) Sole power to vote or direct the vote: 1,320,700
(ii) Shared power to vote or direct the vote: 0
(iii) Sole power to dispose or direct the disposition of: 1,320,700
(iv) Shared power to dispose or direct the disposition of: 0
Item 5. Ownership of Five Percent or Less of a Class:
This Item 5 is not applicable.
Page 7 of 10 Pages
Item 6. Ownership of More than Five Percent on Behalf of Another
Person:
This Item 6 is not applicable.
Item 7. Identification and Classification of the Subsidiary Which
Acquired the Security Being Reported on By the Parent Holding
Company:
See disclosure in Item 2 hereof.
Item 8. Identification and Classification of Members of the Group:
This Item 8 is not applicable.
Item 9. Notice of Dissolution of Group:
This Item 9 is not applicable.
Item 10. Certification:
By signing below each of the Reporting Persons certifies that,
to the best of their 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.
Page 8 of 10 Pages
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.
Date: December 3, 2009 AKANTHOS CAPITAL MANAGEMENT, LLC
By: /s/ Michael Kao
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Name: Michael Kao
Title: Manager
Date: December 3, 2009 AKANTHOS ARBITRAGE MASTER FUND, L.P.
By: Akanthos Capital Management, LLC
its general partner
By: /s/ Michael Kao
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Name: Michael Kao
Title: Manager
Date: December 3, 2009 Michael Kao
/s/ Michael Kao
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Page 9 of 10 Pages
EXHIBIT INDEX
Ex. Page No.
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A Joint Filing Agreement, dated December 3, 2009
by and among Akanthos Capital Management, LLC,
Akanthos Arbitrage Master Fund, L.P. and Michael Kao 10
Page 10 of 10 Pages
EXHIBIT A
JOINT FILING AGREEMENT
The undersigned hereby agree that the statement on Schedule 13G with
respect to the Common Stock of Fibrocell Science, Inc. dated as of December 3,
2009 is, and any amendments thereto (including amendments on Schedule 13D)
signed by each of the undersigned shall be, filed on behalf of each of us
pursuant to and in accordance with the provisions of Rule 13d-1(k) under the
Securities Exchange Act of 1934, as amended.
Date: December 3, 2009 AKANTHOS CAPITAL MANAGEMENT, LLC
By: /s/ Michael Kao
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Name: Michael Kao
Title: Manager
Date: December 3, 2009 AKANTHOS ARBITRAGE MASTER FUND, L.P.
By: Akanthos Capital Management, LLC
its general partner
By: /s/ Michael Kao
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Name: Michael Kao
Title: Manager
Date: December 3, 2009 Michael Kao
/s/ Michael Kao
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