Eric D. Andersen - 07 Aug 2023 Form 4 Insider Report for MERRIMACK PHARMACEUTICALS INC

Reporting relationship: Director, Other*
Issuer ticker: N/A
Reported as of: 07 Aug 2023
Net transaction value: +$2,658,741
SEC form: 4
Accepted by SEC: 09 Aug 2023, 16:06:08 UTC
Prior SEC filing: 22 Mar 2023
Next SEC filing: 13 Nov 2023
Source filing: View source filing
Reporting owner signature: /s/ Eric D. Andersen

Key filing fact

Eric D. Andersen filed Form 4 for MERRIMACK PHARMACEUTICALS INC on 09 Aug 2023.

Key facts

This page summarizes Eric D. Andersen's Form 4 filing for MERRIMACK PHARMACEUTICALS INC.
4 reported transactions and 0 derivative rows are listed below.
Accepted by SEC: 09 Aug 2023, 16:06.

Change

Previous filing in this sequence was filed on 22 Mar 2023.
Current net transaction value: +$2,658,741.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

MACK transaction

Common Stock

Purchase

Transaction value: $1,015,945
Shares: +84,636
Change %: +6%
Price: $12.00
Shares after: 1,496,680
Date: 07 Aug 2023
Ownership: See footnote
Footnotes: F1, F2

MACK transaction

Common Stock

Purchase

Transaction value: $598,468
Shares: +49,857
Change %: +14%
Price: $12.00
Shares after: 407,371
Date: 07 Aug 2023
Ownership: See footnote
Footnotes: F1, F3

MACK transaction

Common Stock

Purchase

Transaction value: $820,891
Shares: +68,431
Change %: +4.6%
Price: $12.00
Shares after: 1,565,111
Date: 08 Aug 2023
Ownership: See footnote
Footnotes: F2, F4

MACK transaction

Common Stock

Purchase

Transaction value: $223,436
Shares: +18,626
Change %: +4.6%
Price: $12.00
Shares after: 425,997
Date: 08 Aug 2023
Ownership: See footnote
Footnotes: F3, F4

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 4 footnotes

Footnote F1

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $11.895 to $12.05, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote (1) to this Form 4.

Footnote F2

The shares are directly held by WSP. The general partner of the Funds is Western Standard. The managing member of Western Standard and the portfolio manager to the Funds is Mr. Andersen. Each of Western Standard and Mr. Andersen disclaims beneficial ownership of the shares except to the extent of its or his pecuniary interest therein, if any, and this report shall not be deemed an admission that it or he is the beneficial owner of such shares.

Footnote F3

The shares are directly held by WSP QP. The general partner of the Funds is Western Standard. The managing member of Western Standard and the portfolio manager to the Funds is Mr. Andersen. Each of Western Standard and Mr. Andersen disclaims beneficial ownership of the shares except to the extent of its or his pecuniary interest therein, if any, and this report shall not be deemed an admission that it or he is the beneficial owner of such shares.

Footnote F4

The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $11.90 to $12.05, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote (4) to this Form 4.

SEC remarks

As a result of an agreement among the persons listed below to vote their respective shares of Common Stock jointly, such persons have formed a "group" under Section 13(d)(1) of the Exchange Act. In addition to Mr. Andersen, Western Standard, LLC ("Western Standard"), Western Standard Partners, L.P. ("WSP") and Western Standard Partners QP, L.P. ("WSP QP" and together with WSP, the "Funds") (collectively, the "Western Standard Parties"), the members of this group are Noah G. Levy, Newtyn Management, LLC, Newtyn Partners, Newtyn TE Partners, LP, Newtyn Capital Partners, LP, and Ledo Capital, LLC (collectively, the "Newtyn Parties" and collectively with the Western Standard Parties, the "13D Group"). As a member of the 13D Group, each Western Standard Party would be deemed to beneficially own the aggregate amount of the Common Stock that each of the 13D Group members beneficially owns, in which case it or he would be deemed to beneficially own 3,864,802 shares of Common Stock. However, none of the Western Standard Parties have the ability to direct the acquisition or disposition or, except through the Cooperation Agreement, voting of the securities held by Newtyn Parties, and none of the Newtyn Parties have the ability to direct the acquisition or disposition or, except through the Cooperation Agreement, voting of the securities held by the Western Standard Parties. As members of the 13D Group, the combined holdings of the Western Standard Parties and the Newtyn Parties would result in each Western Standard Party having voting power equivalent to a combined beneficial ownership of 26.9% of the Issuer's outstanding Common Stock for voting purposes. Each Western Standard Party disclaims beneficial ownership of the shares beneficially owned by the 13D Group except to the extent of its or his pecuniary interest therein, if any, and this report shall not be deemed an admission that it or he is the beneficial owner of such shares.