CYGNE DESIGNS INC 4
4 · CYGNE DESIGNS INC · Filed Aug 16, 2007
Insider Transaction Report
Form 4
CYGNE DESIGNS INCCYDS.OB
Kraif Serge
10% Owner
Transactions
- Other
Common Stock
2007-08-09+8,800,000→ 8,800,000 total
Holdings
- 115,000
Common Stock
Footnotes (1)
- [F1]Serge Kraif acquired the reported securities on August 9, 2007 pursuant to a note conversion agreement with the Issuer effective January 31, 2007, pursuant to which, upon approval of the stockholders of the Issuer, the Issuer issued (i) 8,800,000 shares of its common stock in payment of $22.0 million of $37.0 million of the outstanding $38.5 million principal amount of a convertible subordinated promissory from the Issuer held by the Reporting Person in the principal amount of $38.5 million (the "Note"); (ii) a convertible note in the principal amount of $15.0 million that is convertible into shares of Issuer common stock at a conversion price of $3.50 per share in payment of $15.0 million of the Note, and (iii) a warrant to purchase up to 4,400,000 shares of the Issuer's common stock at a price of $3.00 per share. The Issuer received approval of its stockholders on August 9, 2007.