SEC Form 4 · accession 0001560637-18-000001
Meridian Waste Solutions, Inc. · MRDN
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Clayton A Struve
10% Owner
Period of report
Sep 7, 2017
Accepted (ET)
Apr 11, 2018 · 3:51 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000949721
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock, par value $0.025 per share | Jul 27, 2017 | P$0 | 20,389 | $0.00 | A | 1,141,161 | D | |
| Common Stock, par value $0.025 per shareF3,F2 | Sep 7, 2017 | P$0 | 353,766 | — | A | 1,494,927 | D | |
| Common Stock, par value $0.025 per shareF4,F3 | Oct 17, 2017 | P$0 | 220,000 | — | A | 1,714,927 | D | |
| Common Stock, par value $0.025 per shareF4,F3 | Nov 17, 2017 | P$0 | 80,000 | — | A | 1,794,927 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Series D Preferred Stock, par value $0.001 per shareF2,F3 | $1.00 | Sep 7, 2017 | P | 97,850 | A | Sep 7, 2017 | — | Common Stock | 978,500 | 181,598 | D |
| Warrants to Purchase Common StockF2,F3 | $1.44 | Sep 7, 2017 | P | 1,467,750 | A | Mar 8, 2018 | Sep 7, 2022 | Common Stock | 1,467,750 | 181,598 | D |
| Series E Preferred Stock, par value $0.001 per shareF4,F3,F5 | $1.00 | Oct 17, 2017 | P | 110,000 | A | Sep 7, 2017 | — | Common Stock | 1,100,000 | 181,598 | D |
| Warrants to Purchase Common StockF4,F3,F5 | $1.20 | Oct 17, 2017 | P | 1,650,000 | A | Apr 18, 2018 | Oct 17, 2022 | Common Stock | 1,650,000 | 181,598 | D |
| Series E Preferred Stock, par value $0.001 per shareF4,F3,F5 | $1.00 | Nov 17, 2017 | P | 40,000 | A | Jan 10, 2018 | — | Common Stock | 400,000 | 181,598 | D |
| Warrants to Purchase Common StockF4,F3,F5 | $1.20 | Nov 17, 2017 | P | 600,000 | A | May 18, 2018 | Nov 17, 2022 | Common Stock | 600,000 | 181,598 | D |
Explanation of responses
- F11. As of July 27, 2017, 20,389 shares of were issued as dividends for the shares of Series C Preferred Stock owned by the Reporting Person, earned prior to the date of the automatic conversion of all shares of Series C Preferred Stock.
- F2As of September 7, 2017, in connection with the Issuer's private placement offering, the Reporting Person purchased an aggregate of 97,850 Units at a price of $10.00 per Unit, with each Unit consisting of one share of the Company's Series D Preferred Stock, three shares of the Issuer's Common Stock and 15 Warrants to purchase the Issuer's Common Stock with an exercise price of $1.44 per share exercisable beginning 6 months after the date of issuance and within 5 years from the date of issuance. Each share of Series D Preferred Stock has a stated value of $10.00 and can be converted into shares of the Issuer's Common Stock at the price of $1.00 per share of Common Stock. Additional shares of Common Stock were issued at closing as dividends for the first year, issued in advance, at the rate of 8% per annum, based on a share price of $1.30. There is no expiration date for conversion of the Series D Preferred Stock.
- F3. Does not include 978,500 shares of common stock into which such stockholder's shares of Series D Preferred are convertible, because such conversion is restricted pursuant to the terms of the Series D Preferred designations, which prohibit conversions that would result in the holder owning greater than 4.99% of the Company's issued and outstanding common stock, unless waived upon 60 days' notice, but shall in no event exceed 19.99%, of the Company's issued and outstanding common stock. Does not include 1,467,500 shares of common stock issuable upon such stockholder's exercise of warrants, because such issuance is restricted pursuant to the terms such warrants, which prohibit conversions that would result in the holder owning greater than 4.99% of the Company's issued and outstanding common stock, unless waived upon 60 days' notice, but shall in no event exceed 19.99%, of the Company's issued and outstanding common stock. Such warrants are exercisable beginning March 8, 2018.
- F4Between October 17, 2017 and November 17, 2017, in connection with the Company's private placement offering, the Reporting Person purchased an aggregate of 150,000 Units at a price of $10.00 per Unit, each Unit consisting of one share of the Company's Series E Convertible Preferred Stock and 15 Warrants to purchase the Company's Common Stock with an exercise price of $1.20 per share exercisable beginning 6 months after the date of issuance and within 5 years from the date of issuance. Additional shares of Common Stock were issued on January 10, 2018, upon effectiveness of approval of the Company's shareholders, as dividends for the first year, issued in advance, at the rate of 20% per annum, based on a share price of $1.00. There is no expiration date for conversion of the Series E Preferred Stock.
- F5Does not include 1,500,000 shares of common stock into which such stockholder's shares of Series E Preferred are convertible, because the Series E Preferred prohibits conversions that would result in the holder owning greater than 4.99% of the Company's issued and outstanding common stock, unless waived upon 60 days' notice, but shall in no event exceed 19.99%, of the Company's issued and outstanding common stock. Does not include 2,250,000 shares of common stock issuable upon such stockholder's exercise of warrants, because such warrants prohibit exercises that would result in the holder owning greater than 4.99% of the Company's issued and outstanding common stock, unless waived upon 60 days' notice, but shall in no event exceed 19.99%, of the Company's issued and outstanding common stock. 1,650,000 of such warrants are exercisable beginning April 18, 2018; 600,000 of such warrants are exercisable beginning May 18, 2018.