SEC Form 4 · accession 0001144204-16-134486
MusclePharm Corp · MSLP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Ryan Charles Drexler
Officer — Executive Chairman · Director · 10% Owner
Period of report
Nov 10, 2016
Accepted (ET)
Nov 14, 2016 · 7:07 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001415684
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 Promissory NoteF1 | $1.83 | Nov 10, 2016 | J | 6,010,929 | A | — | Nov 8, 2017 | Common Stock | 6,010,929 | 8,619,624 | D |
Explanation of responses
- F1On November 8, 2016, Mr. Drexler entered into a convertible secured promissory note agreement (the "2016 Convertible Note") with the Company, pursuant to which, on November 10, 2016, Mr. Drexler loaned the Company $11.0 million. Mr. Drexler may elect to convert all or any portion of the convertible amount into shares of the Company's common stock at any time for $1.83 per share at any time (estimated to be approximately 6,010,929 shares as of the date of this Form 4). Both the principal and the interest under the 2016 Convertible Note are due in November 2017, unless converted earlier.