Newton Todd 4
4 · Apollo Endosurgery, Inc. · Filed Aug 14, 2019
Insider Transaction Report
Form 4
Newton Todd
DirectorChief Executive Officer
Transactions
- Purchase
6.0% Convertible Debentures due 2024
2019-08-12$400000.00/shExercise: $3.25From: 2019-08-12Exp: 2024-08-12→ Common Sock (123,077 underlying)
Footnotes (2)
- [F1]Pursuant to a securities purchase agreement (the "Purchase Agreement"), dated as of August 7, 2019, the Issuer issued and sold $20.0 million aggregate principal amount of 6.0% Convertible Debentures (the "Notes") to certain purchasers. The Notes are initially convertible into shares of the Issuer's common stock, par value $0.001 per share, subject to certain adjustments.
- [F2]Interest on the Notes is payable semi-annually in shares of the Issuer's common stock on January 1 and July 1 of each year, beginning on January 1, 2020, at a rate of 6.00% per year and based on the average volume-weighted average price, or VWAP, of the Issuer's common stock for the 10 consecutive trading days immediately preceding the applicable interest payment date. However, interest will be paid in-kind on such interest payments dates if (i) the average VWAP of the Issuer's common stock for the 10 consecutive trading days immediately preceding such interest payment date is less than $2.50 per share, or (ii) the Issuer fails to satisfy certain common stock delivery obligations upon conversion of the Notes.