Paul B. Manning - Jul 29, 2021 Form 4/A - Amendment Insider Report for Candel Therapeutics, Inc. (CADL)

Role: Director, 10%+ Owner
Signature: /s/ John Canepa, Attorney-in-Fact
Stock symbol: CADL
Transactions as of: Jul 29, 2021
Transactions value $: $13,000,000
Form type: 4/A - Amendment
Date filed: 8/4/2021, 04:41 PM
Date Of Original Report: Aug 2, 2021
Previous filing: Jul 29, 2021
Next filing: Sep 1, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CADL	Common Stock	Conversion of derivative security		+679K			679K	Jul 29, 2021	By Paul B. Manning Revocable Trust	F1, F2
transaction	CADL	Common Stock	Conversion of derivative security		+554K			554K	Jul 29, 2021	By BKB Growth Investments, LLC	F1, F3
transaction	CADL	Common Stock	Purchase	$13M	+1.63M	+2901.79%	$8.00^*	1.68M	Jul 29, 2021	Direct	F4

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	CADL	Series B Preferred Stock	Conversion of derivative security	$0	-1.67M	-100%	$0.00^*	0	Jul 29, 2021	Common Stock	679K		By Paul B. Manning Revocable Trust	F1, F2
transaction	CADL	Series B Preferred Stock	Conversion of derivative security	$0	-1.36M	-100%	$0.00^*	0	Jul 29, 2021	Common Stock	554K		By BKB Growth Investments, LLC	F1, F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	These shares of Series B Preferred Stock were convertible at any time at the holder's election and automatically converted on a one-for-2.4579 basis into shares of the Issuer's common stock immediately upon the closing of the Issuer's initial public offering ("IPO") without payment of additional consideration. The Series B Preferred Stock had no expiration date.
F2	The shares are held by The Paul B. Manning Revocable Trust dated May 10, 2000 (the "Trust"). The Reporting Person is the trustee of the Trust and has sole voting and investment power with respect to the shares held by the Trust. The Reporting Person disclaims beneficial ownership of these shares except to the extent of his pecuniary interest therein.
F3	The shares are held directly by BKB Growth Investments, LLC ("BKB"). The Reporting Person is a co-manager of Tiger Lily Capital, LLC, the manager of BKB, and has shared voting and investment power with respect to the shares held by BKB. The Reporting Person disclaims beneficial ownership of these shares except to the extent of his pecuniary interest therein.
F4	Includes shares held jointly with spouse.

Remarks:

This Form 4 amends and restates the Form 4 filed by the Reporting Person on August 2, 2021 to include inadvertently omitted shares purchased in the initial public offering by the Reporting Person.