Genexine Inc. - Apr 26, 2019 Form 4 Insider Report for Rezolute, Inc. (RZLT)

Role
10%+ Owner
Signature
/s/ Genexine, Inc., by Sung June Hong, CFO
Stock symbol
RZLT
Transactions as of
Apr 26, 2019
Transactions value $
-$2,500,000
Form type
4
Date filed
7/28/2021, 05:24 PM
Previous filing
Jul 28, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction RZLT Common Stock Conversion of derivative security +56.8M 56.8M Apr 26, 2019 Direct F1, F2
transaction RZLT Common Stock Purchase $10M +34.5M +60.69% $0.29* 91.3M Jul 23, 2019 Direct F3, F4

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 RZLT Series AA Preferred Stock Conversion of derivative security -$12.5M -1.25M -100% $10.00* 0 Apr 26, 2019 Common Stock 56.8M $0.22 Direct F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Reporting Person acquired 1,250,000 shares of Issuer's Series AA Preferred Stock on January 30, 2019. Each share of the Issuer's Series AA Preferred Stock is convertible into shares of the Issuer's Common Stock at a ratio of 45.45454 shares of Common Stock for one share of Series AA Preferred Stock ("Conversion Rate") at the holder's election and has no expiration date. The Series AA Preferred Stock will automatically convert, at the Conversion Rate, into Common Stock (i) at any time upon the vote or consent of the holders of two thirds of the voting power of the then outstanding Series AA Preferred Stock or (ii) the amendment to Issuer's Certificate of Incorporation to increase the number of shares of Common Stock authorized to be issued to at least 500,000,000 shares of Common Stock.
F2 Upon the filing of Issuer's amendment to Certificate of Incorporation on April 26, 2019, which amendment increased the authorized number of shares of Common Stock of the Issuer to 500,000,000, each share of Series AA Preferred Stock automatically converted into shares of the Issuer's Common Stock at the Conversion Rate.
F3 Issuer granted Reporting Person a call option whereby the earlier of, (i) December 31, 2020 and (ii) the date when Issuer asks Reporting Person for further financing, Reporting Person may elect to purchase up to $10,000,000 worth of shares of the Issuer's Common Stock at a purchase price equal to the greater of: (i) $0.29 per share or (ii) 75% of the volume weighted average closing price of the Issuer's Common Stock during the thirty (30) consecutive trading days prior to the date of the notice. Pursuant to a Purchase Agreement for Shares of Common Stock dated July 23, 2019, Reporting Person exercised the full call option to purchase Common Stock.
F4 Such amount now represents 1,826,019 shares of common stock after taking into account the 50:1 reverse stock split effected October 7, 2020.