SEC Form 4 · accession 0000899243-17-018192
EnSync, Inc. · ESNC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Period of report
Jul 10, 2017
Accepted (ET)
Jul 12, 2017 · 6:19 am EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001140310
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 C-1 Convertible Preferred StockF1,F2,F4 | $0.6678 | Jul 10, 2017 | S | 7,012 | D | — | — | Common Stock | 10,500,000 | 0 | I |
| Series C-2 Convertible Preferred StockF1,F3,F4 | $0.6678 | Jul 10, 2017 | S | 4,341 | D | — | — | Common Stock | 6,500,000 | 0 | I |
Explanation of responses
- F1Pursuant to a share purchase agreement (the "Purchase Agreement") dated as of August 30, 2016 among Melodious Investments Company Limited ("MICL"), Jilun He and SPI Solar, Inc. ("SPI"), SPI repurchased from MICL, 7,012 shares of the issuer's Series C-1 Convertible Preferred Stock and 4,341 shares of the issuer's Series C-2 Convertible Preferred Stock (the "Sale Preferred Shares") at a per share price of $1,033.63 on July 10, 2017.
- F2Series C-1 Convertible Preferred Stock will only become convertible upon the completion of five megawatts worth of solar projects (the "Projects") in accordance with certain supply agreement by and between Solar Power, Inc. and the issuer dated July 13, 2015 and has no expiration date.
- F3Series C-2 Convertible Preferred Stock will only become convertible upon the completion of 15 megawatts worth of Projects and has no expiration date.
- F4Melodious International Investments Group Limited currently owns the entire outstanding share capital of Melodious Investments Company Limited which directly held the Sale Preferred Shares prior to July 10, 2017.