SEC Form 4 · accession 0001477932-16-014223
Spotlight Innovation Inc. · STLT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
K4 Enterprises, LLC
10% Owner
Period of report
Dec 19, 2016
Accepted (ET)
Dec 21, 2016 · 9:16 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001388486
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Convertible NoteF1 | $0.00 | Dec 19, 2016 | P | 1,943,793 | A | Dec 19, 2016 | — | Common Stock | 1,943,793 | 1,943,793 | D |
| Common Stock Purchase Warrant | $1.20 | Dec 19, 2016 | P | 2,075,000 | A | Dec 16, 2016 | Dec 31, 2018 | Common Stock | 2,075,000 | 2,075,000 | D |
Explanation of responses
- F1$830,000 principal amount convertible promissory note (the Note). The Note bears interest at the rate of six percent per annum, and is convertible into shares of common stock of the Company at a price equal to Seventy Percent (70%) of the average closing bid price of the common stock of the Company during the six months immediately prior to such conversion. The number of shares was calculated as if converted using the December 19, 2016 average closing bid price. That six month average was $0.61 per share, and the conversion price (70%) was $0.427 per share, for a total of 1,943,793 shares.