Shin Nippon Biomedical Laboratories, Ltd. - 06 Jun 2023 Form 4 Insider Report for Satsuma Pharmaceuticals, Inc.

Role: 10%+ Owner
Signature: Shin Nippon Biomedical Laboratories, Ltd., By: /s/ Shinji Nitanda, Director
Issuer symbol: N/A
Transactions as of: 06 Jun 2023
Net transactions value: +$27,734,355
Form type: 4
Filing time: 08 Jun 2023, 16:24:19 UTC
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	STSA	Common Stock	Purchase	$20,068,759	+22,053,581		$0.9100	22,053,581	06 Jun 2023	See Footnote	F1, F2
transaction	STSA	Common Stock	Purchase	$7,665,596	+8,423,732		$0.9100	8,423,732	08 Jun 2023	See Footnote	F1, F3
holding	STSA	Common Stock						2,560,780	06 Jun 2023	Direct	F1, F4
holding	STSA	Common Stock						233,333	06 Jun 2023	See Footnote	F1, F5

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

Explanation of Responses:

Id	Content
F1	All of the shares were cancelled on June 8, 2023 pursuant to the terms of that certain Agreement and Plan of Merger, dated as of April 16, 2023 (the "Merger Agreement"), by and among Shin Nippon Biomedical Laboratories, Ltd. ("SNBL"), SNBL23 Merger Sub, Inc., a wholly owned subsidiary of SNBL ("Merger Sub"), and Satsuma Pharmaceuticals, Inc. ("Satsuma"). Following effectiveness of the merger provided for in the Merger Agreement, SNBL owns 1000 shares of the common stock of Satsuma, which represents all of the outstanding shares of common stock of Satsuma. As a result of the merger, Satsuma became a wholly owned subsidiary of SNBL.
F2	Shares acquired by Merger Sub, upon acceptance of all shares validly tendered and not validly withdrawn pursuant to the tender offer by Merger Sub and SNBL, pursuant to the Merger Agreement, for any and all outstanding shares of Satsuma common stock pursuant to that certain Offer to Purchase, dated May 5, 2023.
F3	Shares acquired pursuant to the merger provided for in the Merger Agreement.
F4	SNBL acquired an aggregate of 2,560,780 shares of common stock of Satsuma in transactions on July 1, 2016, February 1, 2018, and April 22, 2019.
F5	SNBL U.S.A., Ltd., a wholly owned subsidiary of SNBL acquired an aggregate of 233,333 shares of common stock of Satsuma in a transaction on September 13, 2019.