4//SEC Filing
CONSTELLATION VENTURE CAPITAL II LP 4
Accession 0000904454-05-000333
CIK 0000906282other
Filed
Jun 30, 8:00 PM ET
Accepted
Jul 1, 3:49 PM ET
Size
9.6 KB
Accession
0000904454-05-000333
Insider Transaction Report
Form 4
CONSTELLATION VENTURE CAPITAL II LP
Director10% Owner
Transactions
- Conversion
7% Convertible Secured Notes
2005-06-23−832,892→ 0 total→ Series A-4 Convertible Preferred Stock (832,892 underlying) - Conversion
Series A-4 Convertible Preferred Stock
2005-06-23+832,892→ 832,892 totalExercise: $3.25→ Common Stock (832,892 underlying)
Footnotes (3)
- [F1]The 7% Convertible Secured Notes (the "Notes"), which were issued on 12/10/04 and 3/11/05, were automatically convertible on the date of the shareholders' approval, into Series A-4 Convertible Preferred Stock of the Issuer. The interest accrued on the Notes was added to the principal of the Notes, and the entire outstanding principal and accrued interest on the Notes was automatically converted into Series A-4 Convertible Preferred Stock.
- [F2]The Series A-4 Convertible Preferred Stock will be convertible into shares of Common Stock at any time at the election of the individual holders. Subject to certain exceptions, the Series A-4 Convertible Preferred Stock will automatically convert into Common Stock, $0.001 par value of the Issuer (the "Common Stock"), if at any time following the 18 months after the issuance of the Series A-4 Convertible Preferred Stock, the weighted average closing price of the Common Stock for the immediately preceding 60 consecutive trading days exceeds four times the weighted average of the applicable Series A-4 Convertible Preferred Stock conversion price then in effect. The Series A-4 Convertible Preferred Stock will convert to Common Stock, initially at a ratio of one share of Common Stock for every share of Series A-4 Convertible Preferred Stock and subject to adjustments for common dilutive equity issuances and for stock splits, stock dividends and similar events.
- [F3]There is no expiration date applicable to the Series A-4 Convertible Preferred Stock.
Documents
Issuer
MTM Technologies, Inc.
CIK 0000906282
Entity typeother
Related Parties
1- filerCIK 0001115990
Filing Metadata
- Form type
- 4
- Filed
- Jun 30, 8:00 PM ET
- Accepted
- Jul 1, 3:49 PM ET
- Size
- 9.6 KB