4//SEC Filing
Tecce Frederick C. 4
Accession 0001144204-10-052278
CIK 0001309442other
Filed
Oct 3, 8:00 PM ET
Accepted
Oct 4, 5:30 PM ET
Size
7.4 KB
Accession
0001144204-10-052278
Insider Transaction Report
Form 4
HEALTH BENEFITS DIRECT CORPHBDT.OB
Tecce Frederick C.
Director10% Owner
Transactions
- Purchase
Secured Promissory Note
2010-09-30+23,512,020→ 23,512,020 total(indirect: See footnote)From: 2010-09-30→ Common Stock (23,512,020 underlying)
Footnotes (3)
- [F1]Pursuant to the First Amendment to Loan Documents dated June 15, 2010 between The Co-Investment Fund II, L.P. (the "Fund") and Health Benefits Direct Corporation (the "Company") and its subsidiaries, the Fund now has the right to convert the outstanding balance under the loans made pursuant to the Loan Agreement dated December 22, 2009 into Units identical to the Units issued in a private placement conducted by the Company on September 30, 2010, subject to the availability of sufficient authorized common stock of the Company. Each Unit consists of 1 share of Series B Convertible Preferred Stock (which is convertible into 20 shares common stock, subject to adjustment) and a five-year warrant to purchase 10 shares of common stock, with a subscription price of $3.00 per Unit. The number of Units into which the loan is convertible is subject to change based on the current outstanding balance and the number of authorized shares of common stock of the Company.
- [F2]The conversion of the loan into Units must occur before July 1, 2011. If converted into Units prior to that date, the right to convert the Series B Convertible Preferred Stock into common stock has no expiration date and the warrants would expire five years from the date of the conversion of the loan.
- [F3]Consists of securities held by the Fund, the designee of Cross Atlantic Capital Partners, Inc., of which Mr. Tecce is the managing director. The Reporting Person disclaims beneficial ownership of the securities held by the Fund except to the extent of his pecuniary interest therein.
Documents
Issuer
HEALTH BENEFITS DIRECT CORP
CIK 0001309442
Entity typeother
Related Parties
1- filerCIK 0001408321
Filing Metadata
- Form type
- 4
- Filed
- Oct 3, 8:00 PM ET
- Accepted
- Oct 4, 5:30 PM ET
- Size
- 7.4 KB