Athyrium Capital Management, LP - 14 Jun 2021 Form 4 Insider Report for PROGENITY, INC. (BIORQ)

Role
10%+ Owner
Signature
/s/ Athyrium Capital Management, LP, by Jeffrey A. Ferrell, President
Issuer symbol
BIORQ
Transactions as of
14 Jun 2021
Net transactions value
+$40,000,000
Form type
4
Filing time
14 Jun 2021, 17:17:36 UTC
Previous filing
03 Jun 2021
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction BIOR Common Stock Purchase $20,000,000 +8,097,166 +29% $2.47 36,396,907 14 Jun 2021 See footnotes F1, F2, F3

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction BIOR Warrant Purchase $20,000,000 +8,097,166 $2.47 8,097,166 14 Jun 2021 Common Stock 8,097,166 $2.84 See footnotes F1, F2, F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The shares of the Issuer's common stock and the Warrant were purchased for $2.47 per unit, with each unit consisting of one share of the Issuer's common stock and the right to buy an additional share of the Issuer's common stock for the exercise price specified in the Warrant.
F2 The 8,097,166 shares of the Issuer's common stock and the Warrant are directly owned by Athyrium Opportunities III Acquisition 2 LP. Athyrium Opportunities Associates III GP LLC is the general partner of Athyrium Opportunities Associates III LP, which is the general partner of Athyrium Opportunities III Acquisition 2 LP. Athyrium Funds GP Holdings, LLC is the managing member of Athyrium Opportunities Associates III GP LLC. Jeffrey Ferrell is the managing member of Athyrium Funds GP Holdings, LLC and the President of Athyrium Opportunities Associates III GP LLC.
F3 Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein, except to the extent of such Reporting Person's pecuniary interest therein.
F4 The Warrant represents a right to buy 8,097,166 shares of the Issuer's common stock at an exercise price of $2.84 per share. The Warrant is exercisable at any time and from time to time prior to June 14, 2026.

Remarks:

Because no more than 10 reporting persons can file any one Form 4 through the Securities and Exchange Commission's EDGAR system, certain affiliates of the Reporting Persons have filed a separate Form 4.