SEC Form 4 · accession 0000899243-18-009560
FlexShopper, Inc. · FPAY
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Waterfall Asset Management, LLC
10% Owner
Period of report
Apr 3, 2018
Accepted (ET)
Apr 5, 2018 · 4:05 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001397047
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | holding | — | — | — | 1,454,546 | I | See Footnote |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Warrant to Purchase Common StockF2,F1 | $0.01 | Apr 3, 2018 | P | 3 | A | Apr 3, 2018 | Apr 3, 2023 | Common Stock | 175,000 | 3 | I |
Explanation of responses
- F1All of the shares and warrants are owned by funds for which the Reporting Person serves as investment manager. Pursuant to the terms of an Investor Rights Agreement with the Issuer, the Reporting Person has the right to nominate one person to the Issuer's board of directors. The Reporting Person disclaims ownership of the securities except to the extent of its pecuniary interest.
- F2The Warrants were issued in connection with an amendment to that certain Credit Agreement, dated as of March 6, 2015, among an affiliate of the Reporting Person, FlexShopper 2, LLC and Wells Fargo Bank, National Association, as paying agent.