SEC Form 4 · accession 0000905718-19-000246
PLx Pharma Inc. · PLXP
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Park West Asset Management LLC
10% Owner
Period of report
Feb 20, 2019
Accepted (ET)
Feb 22, 2019 · 4:44 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001497504
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Series A Convertible Preferred StockF1,F3,F2 | $2.60 | Feb 20, 2019 | P | 15,000 | A | Feb 20, 2019 | — | Common Stock | 5,769,230 | 15,000 | I |
Explanation of responses
- F1Park West Asset Management LLC (the "Reporting Person") is the investment manager to Park West Investors Master Fund, Limited, a Cayman Islands exempted company ("PWIMF"), and Park West Partners International, Limited, a Cayman Islands exempted company ("PWPI" and, together with PWIMF, the "PW Funds"). Peter S. Park ("Mr. Park") is the sole member and manager of the Reporting Person.
- F2Each share of Series A Convertible Preferred Stock, par value $0.001 per share ("Series A Preferred Stock"), of PLx Pharma Inc. (the "Company") is convertible at any time into a number of shares of common stock, par value $0.001 ("Common Stock"), of the Company equal to the stated value (initially $1,000) divided by the conversion price (initially $2.60), in each case subject to customary adjustments under the certificate of designations for the Series A Preferred Stock (the "Certificate of Designations"). Unless converted pursuant to its terms, the Series A Preferred Stock does not expire. The Certificate of Designations prohibits conversion to the extent that the holder, together with its affiliates, would beneficially own in excess of 9.9% of the number of shares of Common Stock outstanding immediately after giving effect to the conversion.
- F3As of February 20, 2019, PWIMF held 13,565 shares of Series A Preferred Stock and PWPI held 1,435 shares of Series A Preferred Stock. Pursuant to Reg. Section 240.16a-1(a)(2), the Reporting Person's and Mr. Park's beneficial ownership is limited to their pecuniary interest, if any, in such securities.