Bradford T. Whitmore - May 7, 2021 Form 4 Insider Report for NANOPHASE TECHNOLOGIES Corp (NANX)

Role
10%+ Owner
Signature
Bradford T. Whitmore
Stock symbol
NANX
Transactions as of
May 7, 2021
Transactions value $
$1,615,289
Form type
4
Date filed
5/11/2021, 04:37 PM
Next filing
Aug 4, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction NANX Common Stock Conversion of derivative security $2.02M +10.1M +51.69% $0.20* 29.6M May 7, 2021 Direct F1, F2
holding NANX Common Stock 601K May 7, 2021 By Grace Investments, LP F3
holding NANX Common Stock 51.5K May 7, 2021 By daughter

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 NANX 2% Second Secured Convertible Note Conversion of derivative security -$404K -2.02M -100% $0.20* 0 May 7, 2021 Common Stock 10.1M $0.20 Direct F1, F2, F4, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Pursuant to the terms of the 2% Second Secured Convertible Note (the "Convertible Note"), the reporting person acquired: (i) 10,000,000 shares of Common Stock upon conversion of $2,000,000 in principal amount of the Convertible Note; and (ii) 95,555 shares of Common Stock upon the conversion of $19,111.11 of outstanding accrued and unpaid interest on the Convertible Note through May 7, 2021, the conversion exercise date.
F2 The principal and outstanding accrued and unpaid interest on the Convertible Note converted at a price of $.20 per share.
F3 As manager of INV-GP, LLC, Grace Investments, LP's General Partner, Bradford T. Whitmore is an indirect beneficial owner of 601,410 shares of Common Stock.
F4 Pursuant to the terms of the Convertible Note, conversion may be undertaken prior to the Convertible Note's maturity date. The reporting person elected to exercise his conversion right in full on May 7, 2021.
F5 The Convertible Note had a maturity date of May 15, 2024.