Swarth Investments Ltd. 4
4 · Ribbon Communications Inc. · Filed Apr 3, 2023
Insider Transaction Report
Form 4
Swarth Investments Inc.
10% Owner
Transactions
- Purchase
Series A Preferred Stock
2023-03-30$970.00/sh+5,000$4,850,000→ 5,000 total - Purchase
Warrant
2023-03-30$3.77/sh+441,645$1,665,002→ 441,645 totalExercise: $3.77From: 2023-03-30Exp: 2027-03-30→ Common Stock (27,877,384 underlying)
Footnotes (2)
- [F1]On March 28, 2023, the Reporting Person and the Issuer entered into a Securities Purchase Agreement (the "Purchase Agreement") among the Reporting Person, the Issuer and the other parties listed on the signature pages thereto, pursuant to which the Issuer issued in a private placement transaction (i) 55,000 shares of the Issuer's Series A Preferred Stock, par value $0.01 per share (the "Preferred Stock") and (ii) warrants (the "Warrants") to purchase up to an aggregate of 4,858,090 shares of the Issuer's common stock, par value $0.0001 per share (the "Common Stock"). Of the 55,000 shares of Preferred Stock issued under the Purchase Agreement, the Reporting Person acquired 5,000 shares of Preferred Stock. Of the Warrants issued under the Purchase Agreement, the Reporting Person acquired Warrants to purchase up to 441,645 shares of Common Stock.
- [F2]The transactions contemplated by the Purchase Agreement closed on March 30, 2023, at which time the Preferred Stock and Warrants were issued to the Reporting Person and the other purchasers.