4//SEC Filing
Moin Andrew 4
Accession 0000950170-23-063918
CIK 0001833214other
Filed
Nov 13, 7:00 PM ET
Accepted
Nov 14, 7:00 PM ET
Size
18.1 KB
Accession
0000950170-23-063918
Insider Transaction Report
Form 4
Moin Andrew
Director
Transactions
- Award
Preferred Tranche A Warrants
2023-11-10+13,269→ 13,269 total(indirect: See Footnote)Exercise: $1000.00→ Series A-1 and/or A-3 Convertible Preferred Stock (13,269 underlying) - Award
Preferred Tranche B Warrants
2023-11-10+8,846→ 20,846 total(indirect: See Footnote)Exercise: $1000.00→ Series A-3 Preferred Stock (8,846 underlying) - Award
Preferred Tranche C Warrants
2023-11-10+22,115→ 52,115 total(indirect: See Footnote)Exercise: $1000.00→ Series A-3 Preferred Stock (22,115 underlying) - Exercise/Conversion
Preferred Tranche A Warrants
2023-11-13−13,269→ 0 total(indirect: See Footnote)Exercise: $1000.00→ Series A-1 and/or A-3 Convertible Preferred Stock (13,269 underlying) - Award
Series A-1 Convertible Preferred Stock
2023-11-13$1000.00/sh+13,269$13,269,000→ 13,269 total(indirect: See Footnote)Exercise: $0.63→ Common Stock and/or Series A-2 Preferred Stock (21,061,904 underlying)
Footnotes (6)
- [F1]Reflects the acquisition by Sessa Capital (Master), L.P. (the "Fund") of Tranche A Warrants (the "Tranche A Warrants") to purchase shares of Series A-1 Convertible Preferred Stock, par value $0.0001 per share (the "Series A-1 Preferred Stock"), and/or shares of Series A-3 Preferred Stock, par value $0.0001 per share (the "Series A-3 Preferred Stock"), pursuant to a Warrant Amendment and Transfer Agreement, dated as of November 10, 2023 (the "Transfer Agreement"), in consideration for an agreement to exercise the Tranche A Warrants on or before November 14, 2023. The Tranche A Warrants became exercisable commencing on the Issuance Date (as defined in the Form of Preferred Tranche A Warrant) until November 14, 2023.
- [F2]These securities of the Issuer are beneficially owned by (i) the Fund, directly, (ii) Sessa Capital GP, LLC, indirectly as a result of being the sole general partner of the Fund, (iii) Sessa Capital IM, L.P., indirectly as a result of being the investment adviser for the Fund, (iv) Sessa Capital IM GP, LLC, indirectly as a result of being the sole general partner of Sessa Capital IM, L.P., and (v) John Petry, indirectly as a result of being the manager of Sessa Capital GP, LLC and Sessa Capital IM GP, LLC. Andrew Moin, an Analyst and Partner with Sessa Capital, is a member of the board of directors of the Issuer. Each of the foregoing persons disclaims beneficial ownership of any securities reported by any person except to the extent of their pecuniary interest therein.
- [F3]Reflects the acquisition by the Fund of Tranche B Warrants (the "Tranche B Warrants") to purchase shares of Series A-3 Preferred Stock, pursuant to the Transfer Agreement in consideration for an agreement to exercise the Tranche A Warrants on or before November 14, 2023. The Tranche B Warrants are exercisable commencing on the Exercisability Date (as defined in the Form of Preferred Tranche B Warrant) until the later of (i) 21 days following the Issuer 's announcement of data from its SAB-142-101 clinical trial and (ii) March 31, 2025.
- [F4]Reflects the acquisition by the Fund of Tranche C Warrants (the "Tranche C Warrants") to purchase shares of Series A-3 Preferred Stock, pursuant to the Transfer Agreement in consideration for an agreement to exercise the Tranche A Warrants on or before November 14, 2023. The Tranche C Warrants are exercisable commencing on the Exercisability Date (as defined in the Form of Preferred Tranche C Warrant) until the five (5) year anniversary of such date.
- [F5]Reflects the exercise by the Fund of the Tranche A Warrants acquired pursuant to the Transfer Agreement. The shares of Series A-1 Preferred Stock are automatically convertible into shares of the Issuer's common stock, $0.0001 par value per share ("Common Stock"), on the first trading day following the announcement of the approval by the stockholders of the Issuer of (i) an amendment to the Issuer 's Certificate of Incorporation to increase the number of authorized shares of Common Stock of the Issuer and (ii) the issuance of the Series A-1 Preferred Stock.
- [F6]Due to a 1,000 character limit, Footnote 6 is a continuation of Footnote 5: The Series A-1 Preferred Stock is subject to a beneficial ownership blocker provision that prevents the Reporting Person from converting the Series A-1 Preferred Stock into Common Stock to the extent such conversion would result in the Reporting Person beneficially owning more than 4.99% of the Common Stock outstanding immediately following such conversion, and to the extent the conversion would cause the Reporting Person's beneficial ownership to exceed such maximum percentage, the Reporting Person will receive shares of Series A-2 Convertible Preferred Stock, par value $0.0001 per share, in lieu of Common Stock.
Documents
Issuer
SAB Biotherapeutics, Inc.
CIK 0001833214
Entity typeother
Related Parties
1- filerCIK 0001996040
Filing Metadata
- Form type
- 4
- Filed
- Nov 13, 7:00 PM ET
- Accepted
- Nov 14, 7:00 PM ET
- Size
- 18.1 KB