SEC Form 4 · accession 0001554795-17-000115
Red Cat Holdings, Inc. · RCAT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Lou Werner III
Director
Period of report
Mar 6, 2017
Accepted (ET)
Mar 27, 2017 · 4:16 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000748268
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 8% Senior Convertible NoteF2,F1 | $0.30 | Mar 6, 2017 | A | — | A | Sep 3, 2017 | — | Common Stock | 333,334 | — | D |
| Warrants (Right to Buy)F2 | $0.35 | Mar 6, 2017 | A | 333,334 | A | Sep 3, 2017 | Sep 3, 2022 | Common Stock | 333,334 | 333,334 | D |
Explanation of responses
- F1Not applicable.
- F2In connection with a $100,000 loan, the issuer issued the reporting person a 5% original issue discount senior convertible promissory note bearing interest at 8% annually which is convertible into shares of the issuer's common stock at $0.30 per share, subject to adjustment. The number of shares reported as securities underlying the convertible note do not include additional shares issuable upon conversion of accrued interest and certain repayment premiums. As additional consideration, the issuer issued the reported warrants to the reporting person.