4//SEC Filing
Liang James L 4
Accession 0001019687-11-003184
CIK 0001100202other
Filed
Oct 6, 8:00 PM ET
Accepted
Oct 7, 7:57 PM ET
Size
6.3 KB
Accession
0001019687-11-003184
Insider Transaction Report
Form 4
Liang James L
Director
Transactions
- Purchase
Series A Convertible Preferred Stock
2011-10-06$92.00/sh+3,750$345,000→ 3,750 total→ Common Stock (250,000 underlying)
Footnotes (1)
- [F1]The stated value of the Series A Preferred stock is $100 per share. The conversion price is initially $1.50, subject to adjustment if (i) Lenco Mobile Inc. ("Lenco") pays any stock dividends or if Lenco subdivides, combines or reclassifies Lenco's common stock or (ii) Lenco's EBITDA for the 15 month period ended December 31, 2011 is less than $27 million and Lenco's EBITDA for the 27 month period ended December 31, 2012 is less than $65 million. With respect to the adjustment effected pursuant to clause (ii), the conversion price is reduced by $0.03 per share if EBITDA for the 27 month period ended December 31, 2012 is less than $65 million, and the conversion price is reduced by an additional $0.03 per share for each $1 million difference between actual EBITDA for such 27 month period and $65 million, subject to a conversion price floor of $0.25 per share. The Series A Preferred shares are convertible immediately and do not expire.
Documents
Issuer
LENCO MOBILE INC.
CIK 0001100202
Entity typeother
Related Parties
1- filerCIK 0001516283
Filing Metadata
- Form type
- 4
- Filed
- Oct 6, 8:00 PM ET
- Accepted
- Oct 7, 7:57 PM ET
- Size
- 6.3 KB