Vivo Opportunity, LLC - Jan 26, 2022 Form 4 Insider Report for Sierra Oncology, Inc. (SRRA)

Role
10%+ Owner
Signature
/s/ Gaurav Aggarwal, as a managing member of Vivo Opportunity, LLC
Stock symbol
SRRA
Transactions as of
Jan 26, 2022
Transactions value $
-$16,413,355
Form type
4
Date filed
1/28/2022, 07:12 PM
Next filing
Jan 31, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SRRA Common Stock Exercise of in-the-money or at-the-money derivative security $330K +25K +18.28% $13.20 162K Jan 26, 2022 By: Vivo Ventures Fund VII, L.P. and Vivo Ventures VII Affiliates Fund, L.P. F1, F3
transaction SRRA Common Stock Exercise of in-the-money or at-the-money derivative security $6.34M +480K +33% $13.20 1.94M Jan 26, 2022 By: Vivo Opportunity Fund, L.P. F1, F4
transaction SRRA Common Stock Exercise of in-the-money or at-the-money derivative security $1.41M +107K +33% $13.20 432K Jan 26, 2022 By: Vivo Capital Fund IX, L.P. F1, F5

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 SRRA Series B Warrant (Right to Purchase ) Exercise of in-the-money or at-the-money derivative security -$1M -75.7K -100% $13.20 0 Jan 26, 2022 Common Stock 25K $13.20 By: Vivo Ventures Fund VII, L.P. and Vivo Ventures VII Affiliates Fund, L.P. F1, F2, F3
transaction SRRA Series B Warrant (Right to Purchase ) Exercise of in-the-money or at-the-money derivative security -$19.2M -1.46M -100% $13.20 0 Jan 26, 2022 Common Stock 480K $13.20 By: Vivo Opportunity Fund, L.P. F1, F2, F4
transaction SRRA Series B Warrant (Right to Purchase ) Exercise of in-the-money or at-the-money derivative security -$4.29M -325K -100% $13.20 0 Jan 26, 2022 Common Stock 107K $13.20 By: Vivo Capital Fund IX, L.P. F1, F2, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On January 22, 2020, a 1-for-40 reverse split of the Issuer's Common Stock was effected. The number of Series B warrants being exercised, the number of shares of Common Stock issued upon exercise of the Series B Warrants and the exercise price of the Series B Warrants as disclosed hereof all reflect the 1-for-40 reverse split against the original numbers as disclosed in the Reporting Persons' Form 3, filed with the Securities and Exchange Commission on December 2, 2019. Each Series B Warrant is exercisable for 0.33 share of Common Stock.
F2 The Series B Warrants will expire on the 75th day anniversary of the Issuer's announcement of the top-line data results from MOMENTUM. The Issuer announced such data on January 25, 2022.
F3 Vivo Ventures VII, LLC is the general partner of each of Vivo Ventures Fund VII, L.P. and Vivo Ventures VII Affiliates Fund, L.P. ("Vivo Fund VII"), the record holder of the securities. Frank Kung, Edgar Engleman and Shan Fu are managing members of Vivo Ventures VII, LLC and may be deemed to share voting and dispositive power over the securities held by Vivo Fund VII. Each of these individuals disclaims beneficial ownership over such securities except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of the reported securities for purposes of Section 16 or for any other purposes.
F4 Vivo Opportunity, LLC is the general partner of Vivo Opportunity Fund, L.P., the record holder of the securities. Gaurav Aggarwal, Hongbo Lu, Kevin Dai, Frank Kung and Michael Chang are managing members of Vivo Opportunity, LLC and may be deemed to share voting and dispositive power over the securities held by Vivo Opportunity Fund, L.P. Each of these individuals disclaims beneficial ownership over such securities except to the extent of his or her pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of the reported securities for purposes of Section 16 or for any other purposes.
F5 Vivo Capital IX, LLC is the general partner of Vivo Capital Fund IX, L.P., the record holder of the securities. Frank Kung, Edgar Engleman, Shan Fu, Hongbo Lu, Mahendra Shah, Jack Nielsen and Michael Chang are managing members of Vivo Capital IX, LLC and may be deemed to share voting and dispositive power over the securities held by Vivo Capital Fund IX, L.P. Each of these individuals disclaims beneficial ownership over such securities except to the extent of his or her pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of the reported securities for purposes of Section 16 or for any other purposes.