4//SEC Filing
IBS CAPITAL LLC 4
Accession 0001179110-21-011181
CIK 0000008328other
Filed
Dec 20, 7:00 PM ET
Accepted
Dec 21, 5:33 PM ET
Size
20.3 KB
Accession
0001179110-21-011181
Insider Transaction Report
Form 4
Transactions
- Sale
10% PIK-Election Convertible Note
2021-12-17−1→ 1,058,778 total(indirect: See footnotes)Exercise: $0.34From: 2020-12-31→ Common Stock - Sale
Common Stock
2021-12-17$0.01/sh−3,597,000$17,985→ 19,033,734 total(indirect: See footnotes) - Sale
10% PIK-Election Convertible Note
2021-12-17−1→ 1,058,778 total(indirect: See footnotes)Exercise: $0.34From: 2020-12-31→ Common Stock - Sale
10% PIK-Election Convertible Note
2021-12-17−1→ 1,058,778 total(indirect: See footnotes)Exercise: $0.34From: 2020-12-31→ Common Stock - Sale
Common Stock
2021-12-17$0.01/sh−1,403,000$7,015→ 19,033,734 total(indirect: See footnotes)
IBS CAPITAL LLC
10% Owner
Transactions
- Sale
10% PIK-Election Convertible Note
2021-12-17−1→ 1,058,778 total(indirect: See footnotes)Exercise: $0.34From: 2020-12-31→ Common Stock - Sale
Common Stock
2021-12-17$0.01/sh−1,403,000$7,015→ 19,033,734 total(indirect: See footnotes) - Sale
10% PIK-Election Convertible Note
2021-12-17−1→ 1,058,778 total(indirect: See footnotes)Exercise: $0.34From: 2020-12-31→ Common Stock - Sale
Common Stock
2021-12-17$0.01/sh−3,597,000$17,985→ 19,033,734 total(indirect: See footnotes) - Sale
10% PIK-Election Convertible Note
2021-12-17−1→ 1,058,778 total(indirect: See footnotes)Exercise: $0.34From: 2020-12-31→ Common Stock
TAFT DAVID A
Director
Transactions
- Sale
Common Stock
2021-12-17$0.01/sh−1,403,000$7,015→ 19,033,734 total(indirect: See footnotes) - Sale
10% PIK-Election Convertible Note
2021-12-17−1→ 1,058,778 total(indirect: See footnotes)Exercise: $0.34From: 2020-12-31→ Common Stock - Sale
10% PIK-Election Convertible Note
2021-12-17−1→ 1,058,778 total(indirect: See footnotes)Exercise: $0.34From: 2020-12-31→ Common Stock - Sale
10% PIK-Election Convertible Note
2021-12-17−1→ 1,058,778 total(indirect: See footnotes)Exercise: $0.34From: 2020-12-31→ Common Stock - Sale
Common Stock
2021-12-17$0.01/sh−3,597,000$17,985→ 19,033,734 total(indirect: See footnotes)
Footnotes (6)
- [F1]This Form 4 is being filed on behalf of IBS Capital LLC ("IBS Capital"), The IBS Turnaround Fund (QP), LP (the "QP Fund"), and David A. Taft ("Taft") (IBS Capital, the QP Fund and Taft are each a "Reporting Person"), each of which has the same business address and may have a pecuniary interest in the securities reported herein. IBS Capital is the general partner of QP Fund and The IBS Turnaround Fund, LP (the "LP Fund"). IBS Capital is the investment manager of The IBS Opportunity Fund, Ltd. (the "Opp. Fund" together with the QP Fund and the LP Fund, the "IBS Capital Funds"). Taft is the president and a member of IBS Capital. Taft is no longer a director of the Issuer. As of the date of this filing, none of the LP Fund, the Opp. Fund, QP Fund, IBS Capital or David A. Taft will beneficially own in the aggregate at least 10% of the Issuer (based on the Issuer's 10-Q for the quarterly period ended 9/30/2021, which reports 204,736,762 outstanding common stock shares).
- [F2]This transaction is being reported as a result of private transactions in which the LP Fund and the QP Fund sold securities to a third-party purchaser (the "Purchaser"). The LP Fund sold 1,403,000 shares of common stock to the Purchaser and the QP Fund sold 3,597,000 shares of common stock to the Purchaser. These transactions were effected at the same time. As a result of these transactions the overall beneficial ownership of IBS Capital and David Taft decreased to 19,033,734 shares of common stock. Following the transactions 5,902,997 shares of common stock are owned by the LP Fund and 11,655,583 shares of common stock are owned by the QP Fund.
- [F3]The LP Fund sold $1,427,792 of principal under a 10% PIK-Election Convertible Note to the Purchaser for $57,111.68, which principal amount is convertible into 4,199,388 shares of common stock of the Issuer. The QP Fund sold $2,867,160 of principal under a 10% PIK-Election Convertible Note to the Purchaser for $114,686.40, which principal amount is convertible into 8,432,824 shares of common stock of the Issuer. The Opp. Fund sold $278,582 of principal under a 10% PIK-Election Convertible to the Purchaser for $11,143.28, which principal amount is convertible into 819,359 shares of common stock of the Issuer.
- [F4]As a result of the transactions described in FN 3 IBS Capital and Taft beneficially own derivative securities that are convertible into 1,058,778 shares of common stock of the Issuer. The LP Fund beneficially owns derivative securities that are convertible into 329,317 shares of common stock of the Issuer. The QP Fund beneficially owns derivative securities that are convertible into 665,060 shares of common stock of the Issuer. The Opp. Fund beneficially owns derivative securities that are convertible into 64,401 shares of common stock of the Issuer.
- [F5]The Reporting Persons each disclaim any beneficial ownership of the securities except to the extent of any pecuniary interest.
- [F6]At the noteholder's option, the amount outstanding under the notes described in Footnote 3 may be converted into common stock of the Issuer. The notes described in Footnote 3 mature on 5/1/2023.
Documents
Issuer
Applied Minerals, Inc.
CIK 0000008328
Entity typeother
Related Parties
1- filerCIK 0001414860
Filing Metadata
- Form type
- 4
- Filed
- Dec 20, 7:00 PM ET
- Accepted
- Dec 21, 5:33 PM ET
- Size
- 20.3 KB