ARADIGM CORP 4
4 · ARADIGM CORP · Filed Sep 22, 2010
Insider Transaction Report
Form 4
ARADIGM CORPARDM
Transactions
- Exercise of In-Money
Common Stock Warrants (Right to Buy)
2010-09-21−4,215,239→ 0 total(indirect: See notes)Exercise: $0.12→ Common Stock (4,215,239 underlying) - Exercise of In-Money
Common Stock
2010-09-21$0.12/sh+4,215,239$499,084→ 60,732,909 total(indirect: See notes)
Footnotes (2)
- [F1]Consists of 2,107,620 shares acquired upon the required exercise of a warrant held by First Eagle Value in Biotechnology Master Fund, Ltd. ("FEVIBMF"), 331,197 shares acquired upon the required exercise of a warrant held by 21 April Fund, L.P. ("21 April LP"), 1,174,245 shares acquired upon the required exercise of a warrant held by 21 April Fund, Ltd. ("21 April Ltd.") and 602,177 shares acquired upon the required exercise of a warrant held by DEF Associates N.V. ("DEF Associates" and together with FEVIBMF, 21 April LP and 21 April Ltd., the "Funds"). The Funds may be deemed to be members of a Section 13(d) group owning more than 10% of the issuer's outstanding common stock. Each of the Funds disclaims Section 16 beneficial ownership of the reported securities and this report shall not be deemed an admission that any such Fund is the beneficial owner of such securities, except to the extent of its pecuniary interest therein.
- [F2]Consists of 2,107,620 warrants purchased by FEVIBMF, 331,197 warrants purchased by 21 April LP, 1,174,245 warrants purchased by 21 April Ltd. and 602,177 warrants purchased by DEF Associates. The warrants became exercisable upon shareholder approval. The warrants expire upon the earlier of 10 business days after shareholder approval or September 19, 2010. The Funds may be deemed to be members of a Section 13(d) group owning more than 10% of the issuer's outstanding common stock. Each of the Funds disclaims Section 16 beneficial ownership of the reported securities and this report shall not be deemed an admission that any such Fund is the beneficial owner of such securities, except to the extent of its pecuniary interest therein.