Broadfin Healthcare Master Fund Ltd 4
4 · BIODELIVERY SCIENCES INTERNATIONAL INC · Filed Dec 20, 2019
Insider Transaction Report
Form 4
Transactions
- Sale
Common Stock
2019-12-18$6.50/sh−750,000$4,875,000→ 3,300,066 total(indirect: See Footnote) - Conversion
Common Stock
2019-12-20$1.80/sh+2,000,000$3,600,000→ 4,300,066 total(indirect: See Footnote) - Conversion
Series B Convertible Preferred Stock
2019-12-20$10000.00/sh−360$3,600,000→ 436 total(indirect: See Footnote)Exercise: $1.80From: 2019-12-20→ Common Stock (2,000,000 underlying) - Sale
Common Stock
2019-12-18$6.44/sh−250,000$1,610,000→ 4,050,066 total(indirect: See Footnote) - Sale
Common Stock
2019-12-20$6.32/sh−1,000,000$6,320,000→ 2,300,066 total(indirect: See Footnote)
Footnotes (2)
- [F1]The securities are held in the account of Broadfin Healthcare Master Fund, Ltd., a private investment fund managed by Broadfin Capital, LLC and may be deemed to be beneficially owned by Kevin Kotler, managing member of Broadfin Capital, LLC. Each of Broadfin Capital, LLC, Broadfin Healthcare Master Fund, Ltd. and Kevin Kotler disclaim beneficial ownership of the reported securities except to the extent of his or its pecuniary interest therein, and affirmatively disclaim being a "group" for purposes of Section 16 of the Securities Exchange Act of 1934, as amended.
- [F2]The securities may not be converted if, after such conversion, the Reporting Person would beneficially own, as determined in accordance with Section 13(d) of the Act, more than 9.98% of the Common Stock outstanding immediately after giving effect to such conversion. The securities do not have an expiration date, but the issuer may force conversion of the securities, subject to certain limitations.