SALEM INVESTMENT PARTNERS V, LIMITED PARTNERSHIP 3
3 · Guerrilla RF, Inc. · Filed Sep 15, 2023
Insider Transaction Report
Form 3
Holdings
Warrant
Exercise: $12.00From: 2023-08-28Exp: 2028-08-28→ Common Stock (48,078 underlying)- 433,655
Common Stock
Footnotes (1)
- [F1]On August 14, 2023 and September 5, 2023, Guerrilla RF, Inc. (the "Company") entered into Amendment No. 3 to Loan Agreement and an Amended and Restated Loan Agreement, respectively, with Salem Investment Partners V, Limited Partnership ("Salem") whereby Salem undertook to make certain loans to the Company. On September 6, 2023, as partial consideration for the loans, Salem received (i) 400,000 shares of Common Stock pursuant to Amendment No. 3, and (ii) 660,000 shares of Common Stock pursuant to the Amended and Restated Loan Agreement. Pursuant to loan participation agreements, four other parties funded approximately 72% of these loans, in exchange for which they are entitled to a pro rata share of any principal and interest received by Salem, and any payments received by Salem in exchange for the shares issued thereunder. Thus, Salem has a pecuniary interest in only 300,000 of the shares issued on September 6, 2023; the remaining 760,000 shares are not included in this Form 3.