SEC Form 4 · accession 0001649633-15-000002
AMERICAN POWER GROUP Corp · APGI
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Arrow, LLC
10% Owner
Period of report
Aug 24, 2015
Accepted (ET)
Aug 27, 2015 · 12:36 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000932699
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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Common Stock Purchase WarrantF1 | $0.20 | Aug 24, 2015 | A | 430,780 | A | Aug 24, 2015 | Aug 24, 2019 | Common Stock, par value $.01 per share | 430,780 | 430,780 | D |
Explanation of responses
- F1On August 24, 2015, American Power Group Corporation and its wholly owned subsidiary American Power Group, Inc. entered into a Secured Financing Agreement ("Agreement") with WPU Leasing, LLC ("Lender"), members of which include Arrow, LLC. Pursuant to the Agreement, the Lender committed to loan APGI up to $3,250,000 to fund APGI's purchase of wellhead gas processing systems. APGI made its initial draw of $1,400,000 under the Agreement on August 24, 2015, of which Arrow, LLC funded $430,780. In consideration of the Lender's commitments under the Agreement, the Company issued the Lender's members, including Arrow, LLC, warrants to purchase up to the lesser of (i) an aggregate of 3,250,000 shares of the Company's common stock, $.01 par value per share ("Common Stock"), or (ii) one share of Common Stock for each dollar borrowed by APGI under the Agreement. In connection with the initial draw, Arrow, LLC was issued a Warrant currently exercisable for 430,780 shares of Common Stock.