4//SEC Filing
Barreto Rodney 4
Accession 0001493152-23-023194
CIK 0001402945other
Filed
Jun 29, 8:00 PM ET
Accepted
Jun 30, 5:33 PM ET
Size
29.9 KB
Accession
0001493152-23-023194
Insider Transaction Report
Form 4
Barreto Rodney
Director
Transactions
- Conversion
Common Stock
2023-05-09$2.20/sh+228,240$502,128→ 318,517 total(indirect: By LLC) - Purchase
Common Stock
2023-05-09$2.20/sh+455,000$1,001,000→ 773,517 total(indirect: By NextPlat Corp) - Conversion
Common Stock
2023-05-09$2.20/sh+570,599$1,255,318→ 1,344,116 total(indirect: By NextPlat Corp) - Purchase
Common Stock Warrants
2023-05-09+30,000→ 30,000 totalExercise: $2.20From: 2023-05-09Exp: 2026-05-09→ Common Stock (30,000 underlying) - Conversion
Convertible Note
2023-05-09→ 0 total(indirect: By NextPlat Corp)Exercise: $2.20From: 2022-09-08Exp: 2027-08-31→ Common Stock (570,599 underlying) - Purchase
Common Stock Warrants
2023-05-09+570,599→ 798,839 total(indirect: By NextPlat Corp)Exercise: $2.20From: 2023-05-09Exp: 2028-05-09→ Common Stock (570,599 underlying) - Conversion
Convertible Note
2022-11-16→ 0 total(indirect: By NextPlat Corp)Exercise: $0.03From: 2022-11-16Exp: 2025-11-16→ Common Stock - Conversion
Convertible Note
2022-11-16→ 0 total(indirect: By NextPlat Corp)Exercise: $2.20From: 2022-11-16Exp: 2025-11-16→ Common Stock - Conversion
Convertible Note
2023-05-09→ 0 total(indirect: By LLC)Exercise: $2.20From: 2022-09-08Exp: 2027-08-31→ Common Stock (228,240 underlying) - Purchase
Common Stock Warrants
2023-05-09+228,240→ 228,240 total(indirect: By LLC)Exercise: $2.20From: 2023-05-09Exp: 2028-05-09→ Common Stock (228,240 underlying) - Purchase
Common Stock Warrant
2023-05-09$1000000.00/sh+455,000$455,000,000,000→ 455,000 total(indirect: By NextPlat Corp)Exercise: $2.20Exp: 2026-05-09→ Common Stock (455,000 underlying)
Footnotes (8)
- [F1]On May 9, 2023, the Reporting Person entered into a Debt Conversion Agreement whereby Issuer issued 228,240 shares of the Issuer's common stock to the Reporting Person upon conversion of the Reporting Person's share of outstanding principal and accrued and unpaid interest of a Secured Promissory Note dated September 2, 2022, at a conversion price of $2.20 per share.
- [F2]Pursuant to the Debt Conversion Agreement dated May 9, 2023, Issuer agreed to issue one warrant for a number of shares equal to the number of conversion shares issued to the Reporting Person. The warrants have a five-year term, are immediately exercisable, and have an exercise price of $2.20.
- [F3]On May 9, 2023, the Reporting Person was issued warrants to purchase 30,000 shares of common stock of the Issuer as an inducement to approve the transaction contemplated by the Securities Purchase Agreement dated May 5, 2023. The warrants have a three-year term, are immediately exercisable, and have an exercise price of $2.20.
- [F4]On May 5, 2023, the Issuer entered into a Securities Purchase Agreement with NextPlat Corp, whereby NextPlat Corp. agreed to purchase 455,000 units of securities, consisting of one share of common stock and one warrant. Each warrant is exercisable at $2.20 per share. The warrants are immediately exercisable and have a term of three years.
- [F5]On May 9, 2023, NextPlat Corp entered into a First Amendment to the Securities Purchase Agreement dated November 16, 2022 (the "Debenture Purchase Agreement"), resulting in the cancellation of the "old" convertible note and the purchase of a replacement convertible note. Pursuant to the Amendment, NextPlat Corp agreed to amend the Debenture Purchase Agreement and the Form of Debenture to increase the conversion price to $2.20 per share. The debentures are convertible at any time, upon NextPlat Corp.'s election, to shares of the Issuer's common stock. No debentures have been purchased to date.
- [F6]The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission that the reporting person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.
- [F7]Includes 33,261 shares of common stock directly held by the Reporting Person; 45,652 shares of common stock held indirectly by NextPlat Corp., of which the Reporting Person is a director; and 11,364 shares of common stock held indirectly by RLB Market Investments LLC, of which the Reporting person is the president.
- [F8]The Reporting Person is the president of RLB Market Investments LLC.
Documents
Issuer
Progressive Care Inc.
CIK 0001402945
Entity typeother
Related Parties
1- filerCIK 0001901402
Filing Metadata
- Form type
- 4
- Filed
- Jun 29, 8:00 PM ET
- Accepted
- Jun 30, 5:33 PM ET
- Size
- 29.9 KB