LIXTE BIOTECHNOLOGY HOLDINGS, INC. 4
4 · LIXTE BIOTECHNOLOGY HOLDINGS, INC. · Filed Mar 19, 2015
Insider Transaction Report
Form 4
Riggs Arthur
10% Owner
Transactions
- Purchase
Preferred Stock
2015-03-17$10.00/sh+175,000$1,750,000→ 175,000 total(indirect: See Footnote)Exercise: $0.80From: 2015-03-17→ Common (2,187,500 underlying)
Holdings
- 4,850,000(indirect: By Trust)
Common Stock
Footnotes (1)
- [F1]Effective March 17, 2015, the Arthur and Jane Riggs 1990 Revocable Trust purchased 175,000 shares (the "Preferred Shares") of the Company's Series A Convertible Preferred Stock at $10.00 per share. Each Preferred Share may be converted, at the option of the holder, into 12.5 common shares (subject to customary anti-dilution provisions) and the Preferred Shares are subject to mandatory conversion at the conversion rate in the event of a merger or sale transaction resulting in gross proceeds to the Company of at least $21,875,000. If fully converted, the Preferred Shares would convert into 2,187,500 shares of common stock, representing an effective price per common share of $0.80. Arthur Riggs and Jane Riggs are co-trustees of the Trust and share voting and dispositive power over the Preferred Shares. They share the same address.