Hirofumi Katase - 30 Jun 2022 Form 4 Insider Report for Ivanhoe Electric Inc. (IE)

Role: Director
Signature: /s/ Katase Hirofumi
Issuer symbol: IE
Transactions as of: 30 Jun 2022
Net transactions value: -$162,672
Form type: 4
Filing time: 01 Jul 2022, 17:06:39 UTC
Previous filing: 27 Jun 2022
Next filing: 11 Oct 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	IE	Common Stock	Conversion of derivative security		+17,324	+135%		30,157	30 Jun 2022	Direct	F1
holding	IE	Common Stock						13,500,101	30 Jun 2022	By I-Pulse Inc.	F2

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	IE	Series 1 Convertible Notes	Conversion of derivative security	$162,672				0	30 Jun 2022	Common Stock	17,324	$9.39	Direct	F1

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

Explanation of Responses:

Id	Content
F1	Upon the consummation of an initial public offering that resulted in gross proceeds of at least $25 million (a "Qualifying IPO"), the Series 1 Convertible Notes, including any accrued but unpaid interest thereon, automatically converted into shares of common stock at a price per share equal to the lesser of (A) 80% of the gross price per share at which common stock is sold in the Qualifying IPO, and (B) $9.39 per share of common stock, subject in each case to adjustment for any stock split, stock dividend, reverse stock split, or similar transactions.
F2	The reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all of the reported shares for purposes of Section 16 or for any other purpose.

Content

Upon the consummation of an initial public offering that resulted in gross proceeds of at least $25 million (a "Qualifying IPO"), the Series 1 Convertible Notes, including any accrued but unpaid interest thereon, automatically converted into shares of common stock at a price per share equal to the lesser of (A) 80% of the gross price per share at which common stock is sold in the Qualifying IPO, and (B) $9.39 per share of common stock, subject in each case to adjustment for any stock split, stock dividend, reverse stock split, or similar transactions.

The reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all of the reported shares for purposes of Section 16 or for any other purpose.