HYPERDYNAMICS CORP 4
4 · HYPERDYNAMICS CORP · Filed Jun 21, 2017
Insider Transaction Report
Form 4
Leonard Ray
DirectorChief Executive Officer
Transactions
- Purchase
Common Stock Warrant (Right to Buy)
2017-03-17$3.50/sh+11,150$39,025→ 11,150 totalExercise: $3.50From: 2017-03-17Exp: 2019-03-16→ Common Stock (11,150 underlying) - Purchase
1% Series A Convertible Preferred Stock
2017-03-17$2.75/sh+50$138→ 50 totalExercise: $2.75Exp: 2017-12-17→ Common Stock (18,909 underlying)
Footnotes (2)
- [F1]The stated value of the Series A Convertible Preferred Stock ($1,040 per share) plus any accrued but unpaid dividends is convertible into issuer's common stock at a price per share equal to the lower of (i) $2.75 (subject to adjustment in certain circumstances), or (ii) 80% of the lowest closing price during 21 consecutive trading days ending on the trading day immediately prior to the conversion date, subject to a floor of $0.25 per share (which floor is subject to adjustment in certain circumstances). This number assumes conversion in full on the date of acquisition (See Note 2 below) at a conversion price of $2.75 per share of common stock.
- [F2]The Series A Convertible preferred stock is convertible at the option of the reporting person, in whole or in part, into shares of common stock at any time after the earlier (i) the date a registration statement under the Securities Act of 1933, as amended, registering for resale shares of common stock issuable upon conversion of the Series A Convertible preferred stock is declared effective by the Securities and Exchange Commission or (ii) September 17, 2017. If no conversion has taken place by December 17, 2017, shares of the Series A Convertible preferred stock will automatically convert into shares of common stock of the issuer.