Anish Bhatnagar - May 8, 2023 Form 4 Insider Report for SOLENO THERAPEUTICS INC (SLNO)

Role
Chief Executive Officer, Director
Signature
/s/ Anish Bhatnagar
Stock symbol
SLNO
Transactions as of
May 8, 2023
Transactions value $
$2,497
Form type
4
Date filed
5/10/2023, 05:28 PM
Previous filing
Jan 27, 2023
Next filing
May 26, 2023

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 SLNO Warrants (right to buy) Award $948 +2.14K $0.44 2.14K May 8, 2023 Common Stock 2.14K $1.75 Direct F1, F2
transaction SLNO Warrants (right to buy) Award $1.55K +3.5K $0.44 3.5K May 8, 2023 Common Stock 3.5K $2.50 Direct F1, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The Warrants were acquired pursuant to a Securities Purchase Agreement, dated December 16, 2022, between the Issuer and certain entities and members of the Issuer's management team. The acquisition was approved by the Issuer's Board of Directors and constitutes an exempt acquisition under Rule 16b-3(d)(1) of the Securities Exchange Act of 1934, as amended.
F2 The Warrants will expire upon the earlier of (i) 30 days following announcement of positive top-line data from the randomized withdrawal period of Study C602, an open-label extension study pertaining to Diazoxide Choline Extended-Release tablets (DCCR) for the treatment of Prader-Willi syndrome (PWS), or (ii) November 8, 2026.
F3 The Warrants will expire upon the earlier of (i) 30 days following receipt of U.S. Food and Drug Administration approval of DCCR for the treatment of PWS or (ii) November 8, 2026.