ALONIM INVESTMENTS INC 4

4 · SIPEX CORP · Filed Feb 18, 2004

Form 4

Period: 2004-02-18

10% Owner

Transactions

Other
Warrant
2002-09-27+0→ 1 total(indirect: By LLC)
Exercise: $2.95From: 2003-09-27Exp: 2005-09-26→ Common Stock (900,000 underlying)
Conversion
Common Stock
2004-02-18$3.52/sh+3,000,000$10,560,000→ 12,749,200 total(indirect: By LLC)
Conversion
Common Stock
2004-02-18$7.50/sh+1,600,000$12,000,000→ 9,749,200 total(indirect: By LLC)

Footnotes (7)

[F1]This transaction constitutes the conversion of the $12 Million 5.75% Convertible Secured Note, due 2007 held by Rodfre Lending, LLC
[F2]8,149,200 shares are held indirectly, through wholly owned affiliate, Rodfre Holding, LLC. the 1,600,000 shares attributable to the conversion of the aforementioned Convertible Secured Note are held through Rodfre Lending, LLC.
[F3]This transaction constitutes the conversion of the $10.56 Million 1.5 % Convertible Secured Note, due June 2007 held by Rodfre Lending, LLC
[F4]Rodfre Lending LLC also paid to the Issuer, above and beyond the conversion price of $3.52 per share of common stock, an additional consideration of $3,000,000 for the vesting of the Conversion Rights under the $10.56 Million 1.5% Convertible Secured Note, and agreed to forgive accrued interest and to forego future interest, pursuant to the Modification Agreement executed as of December 23, 2003, as previously reported on Schedule 13D/A by the Reporting Person.
[F5]8,149,200 shares are held indirectly, through wholly owned affiliate, Rodfre Holding, LLC. The 1,600,000 shares attributable to the conversion of the 12 Million 5.75% Convertible Secured Note due 2007 and the 3,000,000 shares attributable to the conversion of the $10,56 Million 1.5% Convertible Secured Note due June 2007 are held through Rodfre Lending, LLC.
[F6]Warrant was granted as part of the transaction involving the acquisition of the $12 Million 5.75% Convertible Secured Note.
[F7]Previously reported.

Documents

1 file