SEC Form 4 · accession 0001493152-17-003633
POLARITYTE, INC. · PTE
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Denver Lough
Officer — CEO and CSO · Director
Period of report
Apr 5, 2017
Accepted (ET)
Apr 7, 2017 · 8:00 am EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001076682
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Series E Convertible Preferred StockF1 | — | Apr 5, 2017 | J | 7,050 | A | Apr 5, 2017 | — | Common Stock | 7,050,000 | 7,050 | D |
Explanation of responses
- F1On April 5, 2017, the Issuer closed the transactions contemplated under the Agreement and Plan of Reorganization dated as of December 1, 2016, as amended on December 16, 2016 (the transactions contemplated thereby, the "Merger"). In connection with the closing of the Merger, on April 5, 2017, the Issuer issued Dr. Denver Lough 7,050 shares of Series E Convertible Preferred Stock (the "Series E Shares") which are convertible into an aggregate of 7,050,000 shares of the Issuer's common stock. The Series E Shares are convertible into shares of common stock based on a conversion calculation equal to the stated value of such Series E Shares, plus all accrued and unpaid dividends, if any as of such date of determination, divided by the conversion price. The stated value of each Series E Share is $1,000 and the initial conversion price is $1.00 per share, each subject to adjustment. There is no expiration date with respect to the Series E Shares or conversion thereof.