David S. Grayzel - Jun 29, 2021 Form 3 Insider Report for Aerovate Therapeutics, Inc. (AVTE)

Role
Director
Signature
/s/ Ommer Chohan, Attorney-in-Fact
Stock symbol
AVTE
Transactions as of
Jun 29, 2021
Transactions value $
$0
Form type
3
Date filed
6/29/2021, 08:44 PM
Previous filing
Jun 10, 2021
Next filing
Jul 6, 2021

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
holding AVTE Series A Preferred Stock Jun 29, 2021 Common Stock 2.57M By Atlas Venture Fund XII, L.P. F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each share of Series A Preferred Stock is convertible into shares of Common Stock of the Issuer on a one-for-3.1060103 basis. Upon the closing of the Issuer's initial public offering, all shares of Preferred Stock will convert into the number of shares of Common Stock of the Issuer shown in column 3. The Preferred Stock has no expiration date.
F2 The shares are held directly by Atlas Venture Fund XII, L.P. ("Atlas Venture Fund XII"). The general partner of Atlas Venture Fund XII is Atlas Venture Associates XII, L.P. ("AVA XII LP"). Atlas Venture Associates XII, LLC ("AVA XII LLC") is the general partner of AVA XII LP. The Reporting Person is a member of AVA XII LLC and disclaims beneficial ownership of the securities held by Atlas Venture Fund XII, except to the extent of his pecuniary interest therein, if any.

Remarks:

Exhibit 24 - Power of Attorney