LATERAL INVESTMENT MANAGEMENT, LLC 4
4 · FTE Networks, Inc. · Filed Nov 5, 2018
Insider Transaction Report
Form 4
Lateral Global Investors LLC
10% Owner
Transactions
- Exercise of In-Money
Common Stock
2018-10-30$6.00/sh+93,560$561,360→ 379,993 total(indirect: By LLC) - Other
Warrant (right to buy)
2018-10-30+93,560→ 93,560 total(indirect: By LLC)Exercise: $6.00→ Common Stock (93,560 underlying) - Exercise of In-Money
Warrant (right to buy)
2018-10-30−93,560→ 0 total(indirect: By LLC)Exercise: $6.00→ Common Stock (93,560 underlying) - Other
Warrant (right to buy)
2018-10-30+108,000→ 108,000 total(indirect: Held by Lateral U.S. Credit Opportunities Fund, L.P.)Exercise: $6.00→ Common Stock (108,000 underlying)
Holdings
- 414,643(indirect: See below)
Common Stock
Footnotes (3)
- [F1]On October 30, 2018, the reporting persons named herein (the "Reporting Persons") acquired warrants to purchase shares of the Issuer's Common Stock in connection with the extension of credit under that certain Credit Agreement previously described in the Issuer's Form 8-K filed on November 3, 2015. Also on October 30, 2018, Niagara Nominee, L.P., a fund managed by Lateral Investment Management, LLC, which is not a 10% holder of the Issuer's securities, exercised 93,560 of such warrants. The shares underlying such warrants have not been issued as of the date of this filing.
- [F2]Following the transactions described in Footnote 1, the warrants reported herein are held by Lateral U.S. Credit Opportunities Fund, L.P. Lateral Investment Management, LLC has a management agreement with each of Lateral U.S. Credit Opportunities Fund, L.P. and Niagara Nominee, L.P.; Lateral Credit Opportunities, LLC is the sole general partner of Lateral U.S. Credit Opportunities Fund, L.P.; and Dhamitha Richard de Silva, Patrick Feeney and Kenneth Masters are the sole managers of Lateral Credit Opportunities, LLC. As a result of the foregoing relationships, each of Lateral Investment Management, LLC; Lateral Credit Opportunities, LLC; Dhamitha Richard de Silva, Patrick Feeney and Kenneth Masters may be deemed to beneficially own the shares of Common Stock held by Lateral U.S. Credit Opportunities Fund, L.P. and Niagara Nominee, L.P.
- [F3]Lateral FTE Feeder LLC, Lateral Investment Management, LLC and Lateral U.S. Credit Opportunities Fund, L.P. are the record holder of an aggregate of 414,643 shares of Common Stock of the Issuer. In connection with certain lending arrangements, Lateral FTE Feeder LLC, Lateral Investment Management, LLC and Lateral U.S. Credit Opportunities Fund, L.P. hold certain contractual rights to be issued Common Stock, however, such shares have not yet been issued as of the date of this filing.