Artal International S.C.A. - Aug 1, 2022 Form 4 Insider Report for LEXICON PHARMACEUTICALS, INC. (LXRX)

Signature
See Signatures Included in Exhibit 99.1
Stock symbol
LXRX
Transactions as of
Aug 1, 2022
Transactions value $
$40,434,500
Form type
4
Date filed
8/1/2022, 04:15 PM
Next filing
Aug 9, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LXRX Common Stock Purchase $40.4M +16.2M +50.14% $2.50 48.4M Aug 1, 2022 See Footnotes F1, F2, F5, F6
holding LXRX Common Stock 3.52M Aug 1, 2022 See Footnotes F3, F5, F6
holding LXRX Common Stock 35.4M Aug 1, 2022 See Footnotes F4, F5, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On July 27, 2022, Artal International S.C.A. entered into a purchase agreement with the Issuer pursuant to which Artal International S.C.A. agreed to purchase 16,173,800 shares of common stock, $0.001 par value per share (the "Issuer Common Stock"), of the Issuer at a price of $2.50 per share. The purchase closed on August 1, 2022.
F2 These securities are directly held by Artal International S.C.A.
F3 These securities are directly held by Invus Public Equities, L.P.
F4 These securities are directly held by Invus, L.P.
F5 Invus Public Equities Advisors, LLC is the general partner of Invus Public Equities, L.P., and Invus Advisors, L.L.C. is the general partner of Invus, L.P. The Geneva branch of Artal International S.C.A. is the managing member of Invus Public Equities Advisors, LLC. Artal International S.C.A. is the managing member of Invus Advisors, L.L.C. The managing partner of Artal International S.C.A. is Artal International Management S.A. The parent company of Artal International Management S.A. is Artal Group S.A. The parent company of Artal Group S.A. is Westend S.A. The majority stockholder of Westend S.A. is Stichting Administratiekantoor Westend (the "Stichting"). Mr. Amaury Wittouck is the sole member of the board of the Stichting.
F6 Each of the Reporting Persons (other than to the extent it directly holds securities reported herein) disclaims beneficial ownership of the securities held by the other Reporting Persons, except to the extent of such Reporting Person's pecuniary interest therein, and, pursuant to Rule 16a-1(a)(4) under the Exchange Act, each of the Reporting Persons (other than to the extent it directly holds securities reported herein) states that the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of all of the reported securities for purposes of Section 16 of the Exchange Act or for any other purpose.

Remarks:

Invus US Partners LLC (formerly known as Invus Partners, LLC) directly holds 5,303,814 shares of Issuer Common Stock, which securities are being reported on a separately filed Form 4. For purposes of Section 16 of the Exchange Act, the Reporting Persons may be deemed to be directors by deputization of the Issuer by virtue of Invus, L.P.'s right to designate certain members of the Issuer's board of directors pursuant to a stockholders' agreement between the Issuer and Invus, L.P.