Master Silicon Carbide Industries, Inc. 4
4 · Master Silicon Carbide Industries, Inc. · Filed Apr 5, 2012
Insider Transaction Report
Form 4
Vicis Capital, LLC
10% Owner
Transactions
- Other
Common Stock Warrant
2011-09-01+1,764,982→ 1,764,982 total(indirect: By Vicis Capital Master Fund)Exercise: $1.25Exp: 2012-09-01→ Common Stock (1,764,982 underlying)
Holdings
- 920,267(indirect: By Vicis Capital Master Fund)
Series B Convertible Preferred Stock
Exercise: $1.09Exp: 2014-11-02→ Common Stock (9,202,670 underlying) - 1,516,767(indirect: By Vicis Capital Master Fund)
Common Stock, $0.001 par value per share
- 705,993(indirect: By Vicis Capital Master Fund)
Series A Convertible Preferred Stock
Exercise: $1.00Exp: 2013-09-02→ Common Stock (7,059,930 underlying)
Footnotes (4)
- [F1]Represents the indirect holdings of Vicis Capital, LLC. All of the foregoing represents securities held directly by Vicis Capital Master Fund. Vicis Capital, LLC acts as investment advisor to Vicis Capital Master Fund and therefore has voting and dispositive power over all the foregoing shares. For the purposes of Rule 13d-3 under the Securities Exchange Act of 1934, as amended, Vicis Capital, LLC may be deemed to be the beneficial owner of, but hereby disclaims such beneficial ownership of, the foregoing shares.
- [F2]Immediately.
- [F3]On each of January 1, 2010, April 1, 2010, July 1, 2010, October 12, 2010, January 1, 2011, May 18, 2011, August 8, 2011, November 7, 2011, January 1, 2012 and March 30, 2012, the Issuer declared a stock dividend payable to all holders of record of the Issuer's Series A Convertible Preferred Stock. As a result of these dividends, Vicis Capital Master Fund currently owns a total of 1,516,767 shares of the Issuer's Common Stock.
- [F4]Vicis previously acquired a warrant to purchase 1,764,982 shares of Common Stock, which expired on September 1, 2011 pursuant to the terms of the warrant and prior to being exercised by Vicis. Upon the expiration of such warrant, the Issuer issued Vicis a warrant with an expiration date of September 1, 2012, and otherwise having identical terms as the warrant that so expired in order to facilitate the Issuer's future financing activities.