SEC Form 4 · accession 0001493152-18-005442
Adhera Therapeutics, Inc. · ATRX
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Isaac Blech
Director
Period of report
Apr 16, 2018
Accepted (ET)
Apr 18, 2018 · 9:40 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000737207
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 E Convertible Preferred StockF2 | $0.50 | Apr 16, 2018 | A | 2 | A | Apr 16, 2018 | — | common stock | 22,500 | 2 | D |
| Warrants to Purchase Common StockF3 | $0.55 | Apr 16, 2018 | A | 16,875 | A | Apr 16, 2018 | — | common stock | 16,875 | 16,875 | D |
| Series E Convertible Preferred StockF5,F2 | $0.50 | Apr 16, 2018 | C | 104 | A | Apr 16, 2018 | — | common stock | 1,037,000 | 104 | I |
| Warrants to Purchase Common StockF5,F3 | $0.55 | Apr 16, 2018 | C | 777,750 | A | Apr 16, 2018 | — | common stock | 777,750 | 777,750 | I |
| Convertible Promissory NoteF5,F6,F7 | $5,000.00 | Apr 16, 2018 | C | — | D | Apr 16, 2018 | — | Preferred Stock/Warrants | — | — | I |
Explanation of responses
- F1In connection with the closing of the issuer's private placement of shares of its Series E Convertible Preferred Stock and warrants to purchase shares of its common stock (the "Offering"), which occurred on April 16, 2018, the issuer and the reporting person agreed that the issuer would satisfy all accrued and unpaid fees owed by the issuer to the reporting person for services as a member of the issuer's Board of Directors prior to January 1, 2018, by the issuance by the issuer to the reporting person of 2.25 shares of Series E Preferred Stock and warrants to purchase 16,875 shares of common stock.
- F2Each outstanding share of Series E Preferred Stock shall be converted into common stock on the earliest to occur of: (i) any date more than 30 trading days after the closing of the Offering that the closing price of common stock on each of the 30 days immediately prior to such conversion exceeds $5.00; (ii) the three year anniversary of the closing of the Offering; and (iii) the date on which the holders of a majority of the outstanding shares of Series E Preferred Stock elect to convert all of the outstanding shares of Series E Preferred Stock.
- F3The warrants expire on the five year anniversary of the closing of the Offering.
- F4Pursuant to its terms, the unpaid principal balance of the convertible promissory note in the principal amount of $500,000 that the issuer issued to a trust affiliated with the reporting person in November 2017, plus accrued and unpaid interest thereon, converted into 103.7 shares of Series E Preferred Stock and warrants to purchase 777,750 shares of common stock upon the closing of the Offering. As a result of such conversion, the note has been satisfied in full and is no longer outstanding.
- F5The applicable securities are held by River Charitable Remainder Unit Trust, FBO Isaac Blech, July 20, 1987, Isaac Blech Trustee, of which trust the reporting person is sole trustee. The reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of these securities for purposes of Section 16 of the Securities Exchange Act of 1934 as amended, or for any other purpose.
- F6N/A
- F7The note converted into 103.7 shares of Series E Convertible Preferred Stock and warrants to purchase 777,750 shares of common stock.