SEC Form 3 · accession 0001185185-15-000507

Sunworks, Inc. · SUNW

Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗

Reporting owner

Officer — CEO of MD Energy, subsidiary

Period of report

Mar 2, 2015

Accepted (ET)

Mar 13, 2015 · 7:51 pm EDT

Rule 10b5-1 plan

unknown — predates the checkbox

Issuer CIK

0001172631

Table I — non-derivative securities

Security	Date	Code	Shares	Price	A/D	Owned after	D/I	Nature of ownership
Common Stock^F1,F2	holding	—	—		—	24,000	I	See footnote

Security	Conv. / exercise price	Date	Code	Shares	A/D	Exercisable	Expires	Underlying	Underlying shares	Owned after	D/I
Warrant to Purchase Common Stock^F2,F1	$4.15	holding	—	—	—	Mar 9, 2015	Mar 9, 2020	Common Stock	24,000	—	I
Convertible Promissory Note^F2,F3	$2.60	holding	—	—	—	Nov 30, 2015	Feb 28, 2020	Common Stock	1,019,231	—	I

F1Such shares of the Issuer's common stock and warrants to purchase shares of the issuer's common stock were purchased in units ("Units") each of which consisted of (i) one share of the Issuer's common stock, and (ii) one warrant to purchase one share of the Issuer's common stock at an exercise price of $4.15. Reporting Person purchased 24,000 Units at a purchase price of $4.15 per Unit.
F2Such securities are owned by MD Energy, LLC ("MD Energy"), of which Daniel Mitchell is the Managing Member and thus hold voting and dispositive power over securities held by MD Energy.
F3Represents shares underlying a convertible promissory note (the "Note") issued by the Issuer to the Reporting Person in the principal amount of $2,650,000 which is convertible at a conversion price of $2.60. One-third of such Note shall become convertible on each of: (i) November 30, 2015, (ii) November 30, 2016, and (iii) November 30, 2017.