SEC Form 4 · accession 0001140361-16-082190
GB SCIENCES INC · GBLX
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
A later amendment supersedes this filing — read the amendment. The figures below are kept as originally reported (version chain, not an overwrite).
Reporting owners
LAZARUS INVESTMENT PARTNERS LLLP
10% Owner
Justin B Borus
10% Owner
Lazarus Management Co LLC
10% Owner
Period of report
Oct 4, 2016
Accepted (ET)
Oct 6, 2016 · 5:54 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001165320
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1,F2,F5,F6 | Oct 4, 2016 | S | 62,500 | $0.3474 | D | 4,628,979 | I | See Footnotes |
| Common StockF1,F3,F5,F6 | Oct 5, 2016 | S | 122,500 | $0.3314 | D | 4,506,479 | I | See Footnotes |
| Common StockF1,F4,F5,F6 | Oct 6, 2016 | S | 600,000 | $0.3049 | D | 3,906,479 | I | See Footnotes |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Shares of common stock were sold directly by Lazarus Investment Partners LLLP ("Lazarus Partners").
- F2The Price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $0.345 to $0.355, inclusive. The Reporting Persons undertake to provide the Issuer, any security holder, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- F3The Price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $0.32 to $0.35, inclusive. The Reporting Persons undertake to provide the Issuer, any security holder, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- F4The Price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $0.30 to $0.3175, inclusive. The Reporting Persons undertake to provide the Issuer, any security holder, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
- F5This form is filed jointly by Lazarus Management Company LLC ("Lazarus Management"), Justin B. Borus, Lazarus Partners and Lazarus Israel Opportunities Fund LLLP ("Lazarus Israel" and together with Lazarus Partners, the "Funds"). The securities reported herein are owned directly by the Funds as follows: (i) Lazarus Israel owns 1,421,847 shares of common stock and 1,000,000 warrants; and (ii) Lazarus Partners owns 2,484,632 shares of common stock and 3,000,000 warrants. Lazarus Management is the investment adviser and general partner of the Funds and Mr. Borus is the manager of Lazarus Management.
- F6Each of Lazarus Management and Mr. Borus expressly disclaims beneficial ownership of the securities held by the Funds except to the extent of his or its pecuniary interest therein. Each of the Funds expressly disclaims beneficial ownership of the shares held by the other Funds. The filing of this Form 4 shall not be construed as an admission that either Lazarus Management or Mr. Borus, for purposes of Section 16 of the Securities Exchange Act of 1934 or otherwise, is the beneficial owner of any of the securities reported herein.