MIRAVANT MEDICAL TECHNOLOGIES 4
4 · MIRAVANT MEDICAL TECHNOLOGIES · Filed Jul 11, 2005
Insider Transaction Report
Form 4
ST CLOUD INVESTMENTS LTD
10% Owner
Transactions
- Other
Common Stock
2005-04-01$1.00/sh+225,334$225,334→ 225,334 total - Other
Common Stock Warrant (Right to buy)
2005-05-03+3,775,000→ 3,775,000 totalExercise: $1.00From: 2005-05-03Exp: 2013-12-31→ Common Stock (3,775,000 underlying)
Footnotes (4)
- [F1]This report is jointly filed by St. Cloud Investments, Ltd ("SCI") ad Paul Caland, an individual. Mr. Carland is the Majority shareholder of SCI and may be deemed to beneficially own the securities held of record by SCI.
- [F2]The Common Stock reported on this Form 4 was issued to SCI as consideration for a $225,334 interest payment due to SCI pursuant to the terms of previously reported convertible debentures ussued by Miravant Medical Technologies and held by SCI.
- [F3]The Warrants reported on this Form 4 were issued in the following transactions: SCI and the Company entered into Amendment No. 1 to Convertible Debt and Warrant Purchase Agreement and Related Common Stock Warrants which provided that in the event that the Company consummates any subsequent financing transaction in which the warrant coverage provided to the lenders or investors in such transaction is more favorable than the terms of the Notes previously issued to SCI, then SCI shall receive additional Warrants as necessary to receive the same warrant coverage as is provided in such other financing. Pursuant to the terms of the amendment, and upon the closing of sale of the Company's Series B Preferred Stock on May 3, 2005, in which the warrant coverage provided to investors was more favorable than the terms of the Notes previously held by SCI, SCI was issued an additional 3,150,000 Warrants.
- [F4]On April 28, 2005, SCI and the Company entered into Amendment No. 1 to Unsecured Convertible Debenture which provided that in the event that the Company consummates any subsequent financing transaction in which the warrant coverage provided to the lenders or investors in such transaction is more favorable than the terms of the Debentures previously issued to SCI, then SCI shall receive additional Warrants as necessary to receive the same warrant coverage as is provided in such other financing. Pursuant to the terms of the amendment, and upon the closing of sale of the Company's Series B Preferred Stock on May 3, 2005, in which the warrant coverage provided to investors was more favorable than the terms of the Debentures previously held by SCI, SCI was issued an additional 625,000 Warrants.