4//SEC Filing
Brennan Nora 4
Accession 0000899243-23-017673
CIK 0000831547other
Filed
Jul 31, 8:00 PM ET
Accepted
Aug 1, 5:11 PM ET
Size
13.5 KB
Accession
0000899243-23-017673
Insider Transaction Report
Form 4
Brennan Nora
Director
Transactions
- Disposition to Issuer
Stock Option (Right to Buy)
2023-07-31−1,515,957→ 0 totalExercise: $0.71→ Common Stock (1,515,957 underlying) - Disposition to Issuer
Common Stock, $0.001 par value
2023-07-31−463,005→ 0 total - Disposition to Issuer
Stock Option (Right to Buy)
2023-07-31−840,000→ 0 totalExercise: $0.38→ Common Stock (840,000 underlying) - Disposition to Issuer
Common Stock, $0.001 par value
2023-07-31−104,823→ 0 total
Footnotes (4)
- [F1]Represents shares of the Issuer disposed of pursuant to the Agreement and Plan of Merger (the "Merger Agreement"), dated as of April 24, 2023, by and among the Issuer, Assertio Holdings, Inc., a Delaware corporation ("Acquiror"), and Spade Merger Sub 1, Inc., a Delaware corporation and a wholly owned subsidiary of Acquiror, in exchange for consideration of (a) 0.1783 of a share of the common stock of Acquiror and cash in lieu of fractional shares (the "Upfront Consideration") and (b) a contingent value right ("CVR") to receive up to an additional $0.20 per common share (subject to adjustment), payable in cash or common stock of Acquiror at the election of Acquiror, upon the achievement of certain milestones, (the Upfront Consideration plus one CVR, collectively, the "Merger Consideration") on the effective date of the merger.
- [F2]Represents shares underlying restricted stock units of the Issuer, which were disposed of pursuant to the Merger Agreement in exchange for the aggregate Merger Consideration.
- [F3]Stock options of the Issuer (the "Company Options") were canceled in the merger and (i) if the Company Option had an exercise price less than the Upfront Consideration, it was exchanged for (1) common stock of the Acquiror with a value equal to the quotient of (A) the product of (x) the total number of common stock of Issuer underlying the Company Option multiplied by (y) the excess, if any, of the value of the Upfront Consideration over the exercise price of such Company Option, divided by (B) the average of the daily volume-weighted average price per share of the common stock of Acquiror calculated based on the ten (10) consecutive trading days ending two trading days prior to the date of the Merger Agreement and (2) a number of CVRs equal to the number of shares of common stock of the Issuer underlying such Company Option, (ii) if the Company Option had an exercise price equal to or greater than the Upfront Consideration and less than the Merger Consideration,
- [F4](Continued from Footnote 3) it was exchanged for a number of CVRs equal to the number of common stock of the Issuer underlying such Company Option (reduced by the amount that the exercise price exceeds the Upfront Consideration) and (iii) if the Company Option had an exercise price equal to or greater than the Merger Consideration, it was canceled for no consideration.
Documents
Issuer
SPECTRUM PHARMACEUTICALS INC
CIK 0000831547
Entity typeother
Related Parties
1- filerCIK 0001790215
Filing Metadata
- Form type
- 4
- Filed
- Jul 31, 8:00 PM ET
- Accepted
- Aug 1, 5:11 PM ET
- Size
- 13.5 KB