SEC Form 4 · accession 0001408408-18-000014
iBio, Inc. · IBIO
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owners
Kenneth Bryan Dart
10% Owner
Eastern Capital LTD
10% Owner
Portfolio Services Ltd.
10% Owner
Period of report
Jun 26, 2018
Accepted (ET)
Jun 28, 2018 · 6:03 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001420720
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common SharesF1 | Jun 26, 2018 | P | 1,683,334 | $0.90 | A | 6,257,734 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Series B Preferred SharesF2,F1 | — | Jun 26, 2018 | P | 5,785 | A | — | — | Common Stock | 6,427,778 | 5,785 | D |
Explanation of responses
- F1Eastern Capital Limited acquired 1,683,334 shares of Common Stock of the Issuer (the "Shares") at a price of $0.90 per share and 5,785 Series B Preferred Shares at an offering price of $1,000 per Series B Preferred Share on June 26, 2018, in an underwritten public offering.
- F2The Series B Preferred Shares is convertible into Shares at the option of Eastern Capital Limited, at any time, at a conversion price equal to the public offering price of the Shares, and are subject to a limit of exercise to the extent (and only to the extent) that Eastern Capital Limited or any of its affiliates would beneficially own in excess of 48% of the Shares after giving effect to such exercise.
Remarks
Eastern Capital Limited is an investment entity that owns the securities reported on this Form 4. Portfolio Services Ltd. is a holding company which owns all of the outstanding stock of Eastern Capital Limited. Kenneth B. Dart is the beneficial owner of all of the outstanding stock of Portfolio Services Ltd.