SEC Form 4 · accession 0001209191-16-141313
DASAN ZHONE SOLUTIONS INC · DZSI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
DASAN NETWORKS, INC
10% Owner
Period of report
Sep 9, 2016
Accepted (ET)
Sep 13, 2016 · 8:09 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001101680
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Sep 9, 2016 | J | 47,465,082 | — | A | 47,465,082 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1DASAN Networks, Inc. acquired 47,465,082 shares of the issuer's common stock pursuant to that certain Agreement and Plan of Merger, dated as of April 11, 2016, by and among the issuer, Dragon Acquisition Corporation ("Merger Sub"), Dasan Network Solutions, Inc. ("DNS") and DASAN Networks, Inc. (the "Merger Agreement") in exchange for 100% of the outstanding capital stock of DNS in connection with the merger of Merger Sub with and into DNS. Of the 47,465,082 shares, 4,746,508 shares are being held in escrow as security for claims for indemnifiable losses in accordance with the Merger Agreement.