Tecce Frederick C. 4
4 · InsPro Technologies Corp · Filed Nov 30, 2012
Insider Transaction Report
Form 4
InsPro Technologies CorpITCC.OB
Tecce Frederick C.
Director10% Owner
Transactions
- Purchase
Warrant to Purchase Common Stock
2012-11-20$0.15/sh+333,333$50,000→ 11,307,110 total(indirect: See Footnote)From: 2012-11-20Exp: 2017-11-20→ Common Stock (3,333,330 underlying) - Purchase
Series B Convertible Preferred Stock
2012-11-20+333,333→ 22,614,220 total(indirect: See Footnote)From: 2012-11-20→ Common Stock (6,666,660 underlying)
Footnotes (2)
- [F1]The Co-Investment Fund II, L.P. (the "Fund") purchased 333,333 Units issued in a private placement conducted by InsPro Technologies Corporation on November 20, 2012. Each Unit consists of 1 share of Series B Convertible Preferred Stock (which is convertible into 20 shares of 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. There is no expiration date for the conversion of the Series B Convertible Preferred Stock.
- [F2]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.