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Filing Details

Accession Number:: 0000932440-10-000071
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2010-04-01 13:00:00
Reporting Period:: 2010-03-31

Filing Date:: 2010-04-01
Accepted Time:: 2010-04-01 15:23:15
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1043873	Novadel Pharma Inc	NVDL	Pharmaceutical Preparations (2834)	222407152

Insiders

Cik	Name	Reported Address	Director	Officer	Large Shareholder	Other
1033508	Jay Moorin	C/O Proquest Investments 90 Nassau Street, 5Th Floor Princeton NJ 08542-4520	No	No	Yes	No
1143319	Proquest Investments Ii Advisors Fund Lp	90 Nassau Street, 5Th Floor Princeton NJ 08542-4520	No	No	Yes	No
1143544	Proquest Investments Ii Lp	90 Nassau Street, 5Th Floor Princeton NJ 08542-4520	No	No	Yes	No
1225107	Proquest Associates Ii Llc	90 Nassau Street, 5Th Floor Princeton NJ 08542-4520	No	No	Yes	No
1225149	Alain Schreiber	C/O Proquest Investments 90 Nassau Street, 5Th Floor Princeton NJ 08542-4520	No	No	Yes	No
1306133	Proquest Investments Iii, L.p.	90 Nassau Street, 5Th Floor Princeton NJ 08542-4520	No	No	Yes	No
1306134	Proquest Associates Iii Llc	90 Nassau Street, 5Th Floor Princeton NJ 08542-4520	No	No	Yes	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Acquisiton	2010-03-31	4,848,485	$0.17	34,353,138	No	4	P	Indirect	See

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	P	Indirect	See

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Series A Warrants to Purchase Common Stock	Acquisiton	2010-03-31	2,424,243	$0.00	2,424,243	$0.25
Common Stock	Series B Warrants to Purchase Common Stock	Acquisiton	2010-03-31	1,616,162	$0.00	1,616,162	$0.25

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
2,424,243	2010-03-31	2015-03-31	No	4	P	Indirect
1,616,162	2010-03-31	2010-09-30	No	4	P	Indirect

Reported Derivative Holdings

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Sec. Name	Sec. Type	Price	Date	Expiration Date	Amount	Remaning Holdings	Nature of Ownership
Common Stock	Warrants to Purchase Common Stock	$0.19	2005-11-25	2010-05-26	1,394,871	1,394,871	Indirect
Common Stock	Warrants to Purchase Common Stock	$0.19	2006-10-12	2011-04-12	206,899	206,899	Indirect
Common Stock	Warrants to Purchase Common Stock	$0.19	2006-12-27	2011-12-27	384,766	384,766	Indirect
Common Stock	Warrants to Purchase Common Stock	$0.19	2008-12-01	2013-05-30	3,000,000	3,000,000	Indirect
Common Stock	Warrants to Purchase Common Stock	$0.19	2009-04-17	2013-10-17	6,446,809	6,446,809	Indirect

Expiration Date	Amount	Remaning Holdings	Nature of Ownership
2010-05-26	1,394,871	1,394,871	Indirect
2011-04-12	206,899	206,899	Indirect
2011-12-27	384,766	384,766	Indirect
2013-05-30	3,000,000	3,000,000	Indirect
2013-10-17	6,446,809	6,446,809	Indirect

Footnotes

Of such total shares: 23,417,138 are owned by ProQuest Investments III, L.P. ("Investments III"), of which ProQuest Associates III LLC ("Associates III") is the general partner; 9,530,152 are owned by ProQuest Investments II, L.P. ("Investments II"), of which ProQuest Associates II LLC ("Associates II") is the general partner; and 143,101 are owned by ProQuest Investments II Advisors Fund, L.P. ("Advisors"), of which Associates II is the general partner. Jay Moorin and Alain Schreiber are managing members of Associates III and Associates II. All of such new shares were acquired by Associates II. Each of the Reporting Persons disclaims beneficial ownership of such securities except to the extent of each Reporting Person's pecuniary interest in such securities.
Of such warrants: 1,107,078 are owned by Investments III; 281,030 are owned by Investments II; and 6,763 are owned by Advisors. Each of the Reporting Persons disclaims beneficial ownership of such securities except to the extent of each Reporting Person's pecuniary interest in such securities.
Of such warrants: 164,210 are owned by Investments III; 41,684 are owned by Investments II; and 1,005 are owned by Advisors. Each of the Reporting Persons disclaims beneficial ownership of such securities except to the extent of each Reporting Person's pecuniary interest in such securities.
Of such warrants: 305,380 are owned by Investments III; 77,520 are owned by Investments II; and 1,866 are owned by Advisors. Each of the reporting persons disclaims beneficial ownership of such securities except to the extent of each Reporting Person's pecuniary interest in such securities.
Of such warrants: 2,381,030 are owned by Investments III; 604,419 are owned by Investments II; and 14,551 are owned by Advisors. Each of the Reporting Persons disclaims beneficial ownership of such securities except to the extent of each Reporting Person's pecuniary interest in such securities.
Of such warrants: 5,116,683 are owned by Investments III; 1,298,858 are owned by Investments II; and 31,268 are owned by Advisors. Each of the Reporting Persons disclaims beneficial ownership of such securities except to the extent of each Reporting Person's pecuniary interest in such securities.
Such warrants are owned by Investments II. Each of the Reporting Persons disclaims beneficial ownership of such securities except to the extent of each Reporting Person's pecuniary interest in such securities.
On March 31, 2010, Investments II acquired 4,848,485 shares of Common Stock, Series A Warrants to purchase 2,424,243 shares of Common Stock and Series B Warrants to purchase 1,616,162 shares of Common Stock, all for an aggregate price of $800,000.03.