4//SEC Filing
LOF PARTNERS LLC 4
Accession 0001192482-10-000234
CIK 0000352998other
Filed
Aug 23, 8:00 PM ET
Accepted
Aug 24, 3:50 PM ET
Size
24.8 KB
Accession
0001192482-10-000234
Insider Transaction Report
Form 4
LIFE SCIENCES OPPORTUNITIES FUND II LP
Director10% Owner
Transactions
- Conversion
Common Stock
2010-08-20+2,382,167→ 2,382,167 total - Conversion
Common Stock
2010-08-20+13,310,657→ 13,310,657 total - Conversion
Series B-1 Convertible Preferred Stock
2010-08-20−854.035→ 0 total→ Common Stock (13,310,657 underlying) - Conversion
Series B-1 Convertible Preferred Stock
2010-08-20−152.844→ 0 total→ Common Stock (2,382,167 underlying)
LIFE SCIENCES OPPORTUNITIES FUND INSTITTUTIONAL II LP
Director10% Owner
Transactions
- Conversion
Series B-1 Convertible Preferred Stock
2010-08-20−152.844→ 0 total→ Common Stock (2,382,167 underlying) - Conversion
Series B-1 Convertible Preferred Stock
2010-08-20−854.035→ 0 total→ Common Stock (13,310,657 underlying) - Conversion
Common Stock
2010-08-20+2,382,167→ 2,382,167 total - Conversion
Common Stock
2010-08-20+13,310,657→ 13,310,657 total
LOF PARTNERS LLC
10% Owner
Transactions
- Conversion
Series B-1 Convertible Preferred Stock
2010-08-20−152.844→ 0 total→ Common Stock (2,382,167 underlying) - Conversion
Series B-1 Convertible Preferred Stock
2010-08-20−854.035→ 0 total→ Common Stock (13,310,657 underlying) - Conversion
Common Stock
2010-08-20+2,382,167→ 2,382,167 total - Conversion
Common Stock
2010-08-20+13,310,657→ 13,310,657 total
SMH CAPITAL INC.
10% Owner
Transactions
- Conversion
Common Stock
2010-08-20+2,382,167→ 2,382,167 total - Conversion
Series B-1 Convertible Preferred Stock
2010-08-20−854.035→ 0 total→ Common Stock (13,310,657 underlying) - Conversion
Common Stock
2010-08-20+13,310,657→ 13,310,657 total - Conversion
Series B-1 Convertible Preferred Stock
2010-08-20−152.844→ 0 total→ Common Stock (2,382,167 underlying)
GALE JAMES C
Director10% Owner
Transactions
- Conversion
Common Stock
2010-08-20+13,310,657→ 13,310,657 total - Conversion
Series B-1 Convertible Preferred Stock
2010-08-20−854.035→ 0 total→ Common Stock (13,310,657 underlying) - Conversion
Series B-1 Convertible Preferred Stock
2010-08-20−152.844→ 0 total→ Common Stock (2,382,167 underlying) - Conversion
Common Stock
2010-08-20+2,382,167→ 2,382,167 total
SANDERS MORRIS HARRIS GROUP INC
10% Owner
Transactions
- Conversion
Common Stock
2010-08-20+13,310,657→ 13,310,657 total - Conversion
Series B-1 Convertible Preferred Stock
2010-08-20−854.035→ 0 total→ Common Stock (13,310,657 underlying) - Conversion
Common Stock
2010-08-20+2,382,167→ 2,382,167 total - Conversion
Series B-1 Convertible Preferred Stock
2010-08-20−152.844→ 0 total→ Common Stock (2,382,167 underlying)
Erony Joyce
Director10% Owner
Transactions
- Conversion
Common Stock
2010-08-20+13,310,657→ 13,310,657 total - Conversion
Common Stock
2010-08-20+2,382,167→ 2,382,167 total - Conversion
Series B-1 Convertible Preferred Stock
2010-08-20−854.035→ 0 total→ Common Stock (13,310,657 underlying) - Conversion
Series B-1 Convertible Preferred Stock
2010-08-20−152.844→ 0 total→ Common Stock (2,382,167 underlying)
BALL GEORGE L
10% Owner
Transactions
- Conversion
Series B-1 Convertible Preferred Stock
2010-08-20−854.035→ 0 total→ Common Stock (13,310,657 underlying) - Conversion
Common Stock
2010-08-20+2,382,167→ 2,382,167 total - Conversion
Series B-1 Convertible Preferred Stock
2010-08-20−152.844→ 0 total→ Common Stock (2,382,167 underlying) - Conversion
Common Stock
2010-08-20+13,310,657→ 13,310,657 total
Footnotes (3)
- [F1]Pursuant to the terms of the Certificate of Designation, shares of Series B-1 Convertible Preferred Stock (the "Series B-1 Preferred Stock") automatically convert into shares of common stock upon the date that the Closing Price (as defined in the Certificate of Designation) of the common stock shall have exceeded $1.20 for a period of twenty-five (25) consecutive trading days immediately preceding such date. Specifically, shares of Series B-1 Preferred Stock convert into 14,634 shares of common stock, plus such number of shares of common stock as shall equal (x) the accrued and unpaid dividends on the Series B-1 Preferred Stock divided by (y) $0.41. On August 19, 2010, the Closing Price of the common stock was $1.29, which was the twenty-fifth day for which the Closing Price of the common stock exceeded $1.20. As of August 19, 2010, the accrued and unpaid dividends on all outstanding shares of Series B-1 Preferred Stock amounted to $392,844.49.
- [F2]These securities are owned directly by Life Sciences Opportunities Fund II, L.P. and indirectly by Signet Healthcare Partners, LLC ("General Partner"), the general partner of Life Sciences Opportunities Fund (Institutional) II, L.P., James C. Gale, the chief investment officer, a manager and member of the General Partner, Sanders Morris Harris, Inc. ("SMH"), the controlling member of the General Partner, Sanders Morris Harris Group, Inc. ("SMHG"), the parent company of SMH, Joyce Erony, a director of IGI Laboratories, Inc. and a managing director of the General Partner and George L. Ball, a manager of the General Partner and Chief Executive Officer and a director of SMH and SMHG. The General Partner, Mr. Gale, SMH, SMHG, Ms. Erony and Mr. Ball disclaim beneficial ownership of the reported securities except to the extent of their pecuniary interest therein, if any.
- [F3]These securities are owned directly by Life Sciences Opportunities Fund (Institutional) II, L.P. and indirectly by the General Partner, Mr. Gale, SMH, SMHG, Ms. Erony and Mr. Ball. The General Partner, Mr. Gale, SMH, SMHG, Ms. Erony and Mr. Ball disclaim beneficial ownership of the reported securities except to the extent of their pecuniary interest therein, if any.
Documents
Issuer
IGI LABORATORIES, INC
CIK 0000352998
Entity typeother
IncorporatedDE
Related Parties
1- filerCIK 0001280952
Filing Metadata
- Form type
- 4
- Filed
- Aug 23, 8:00 PM ET
- Accepted
- Aug 24, 3:50 PM ET
- Size
- 24.8 KB