METRO ONE TELECOMMUNICATIONS INC 4
4 · METRO ONE TELECOMMUNICATIONS INC · Filed Aug 16, 2007
Insider Transaction Report
Form 4
MAOZ ELCHANAN
Director10% Owner
Transactions
- Purchase
Series A Convertible Preferred Stock, no par value
2007-08-15$10000.00/sh+156$1,560,000→ 200 total(indirect: By Everest Special Situations Fund L.P.)Exercise: $1.78From: 2007-08-15→ Common Stock, no par value (876,405 underlying) - Purchase
Warrants to Purchase Preferred Stock
2007-08-15+2→ 2 total(indirect: By Everest Special Situations Fund L.P.)Exercise: $10000.00From: 2007-08-15Exp: 2009-08-15→ Series A Convertible Preferred Stock, no par value (140 underlying)
Footnotes (5)
- [F1]The shares of Series A Convertible Preferred Stock (Preferred Stock) reported herein were acquired by Everest Special Situations Fund, L.P. (Everest) as part of the second stage of a private placement transaction (the Private Placement). Such shares of Preferred Stock are entitled to vote together with common stock on all matters on a discounted as-converted basis (the discount is equal to the difference between the conversion price and the market price on the date of issuance) .
- [F2]The shares of Preferred Stock have no expiration date.
- [F3]The number of shares of common stock into which the Preferred Stock is convertible is subject to certain adjustments, including anti-dilution adjustments.
- [F4]As the general partner of Everest, Maoz Everest Fund Management, Ltd. (Maoz Everest) may be deemed to beneficially own the shares held by Everest. As the Chairman and Chief Executive Officer of Maoz Everest, Elchanan Maoz may be deemed to beneficially own the shares held by Everest. Each of Maoz Everest and Mr. Maoz disclaims ownership of such shares except to the extent of its or his pecuniary interest therein.
- [F5]The warrants reported herein were acquired by Everest in connection with the Private Placement. One warrant to purchase 15.4 shares of Preferred Stock was issued to Everest on June 5, 2007 in connection with the initial stage of the Private Placement, but was not exercisable without approval from the Issuer's shareholders which was obtained on August 14, 2007. The second warrant to purchase 54.6 shares of Preferred Stock was issued to Everest in connection with the second stage of the Private Placement.