HBM Healthcare Investments (Cayman) Ltd. - 09 Nov 2021 Form 4 Insider Report for IO Biotech, Inc. (IOBT)

Role: 10%+ Owner
Signature: /s/ Jean-Marc LeSieur, Managing Director
Issuer symbol: IOBT
Transactions as of: 09 Nov 2021
Net transactions value: +$4,550,000
Form type: 4
Filing time: 12 Nov 2021, 15:16:25 UTC
Previous filing: 04 Nov 2021
Next filing: 09 Feb 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	IOBT	Common Stock	Conversion of derivative security		+2,365,545			2,365,545	09 Nov 2021	Direct	F1
transaction	IOBT	Common Stock	Purchase	$4,550,000	+325,000	+14%	$14.00	2,690,545	09 Nov 2021	Direct

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	IOBT	Series C Preferred Stock	Conversion of derivative security	$0	-188,168	-100%	$0.000000^*	0	09 Nov 2021	Common Stock	2,365,545		Direct	F1

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

HBM Healthcare Investments (Cayman) Ltd. is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id	Content
F1	Upon the closing of the Issuer's initial public offering, each share of Series C Preferred Stock beneficially owned by the reporting person automatically converted, for no additional consideration, into the number of shares of Common Stock reported in Column 7 of Table II. These shares of Series C Preferred Stock had no expiration date.