Bihua Chen - Apr 5, 2022 Form 4 Insider Report for MoonLake Immunotherapeutics (MLTX)

Role: 10%+ Owner
Signature: /s/ Bihua Chen
Stock symbol: MLTX
Transactions as of: Apr 5, 2022
Transactions value $: $28,500,000
Form type: 4
Date filed: 4/7/2022, 06:26 PM
Previous filing: Aug 10, 2021
Next filing: Jun 24, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	MLTX	Class A Ordinary Shares	Conversion of derivative security	$0	+2.79M	+647.67%	$0.00	3.22M	Apr 5, 2022	See footnote	F1, F3
transaction	MLTX	Class A Ordinary Shares	Purchase	$28.5M	+2.85M		$10.00^*	2.85M	Apr 5, 2022	See footnote	F2, 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	MLTX	Class B Ordinary Shares	Conversion of derivative security		-2.79M	-100%		0	Apr 5, 2022	Class A Ordinary Shares	2.79M		See footnote	F1, F3

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

Explanation of Responses:

Id	Content
F1	Helix Holdings LLC is the record holder of these securities reported. Bihua Chen is the manager of Helix Holdings LLC and has voting and investment discretion with respect to the securities held of record by Helix Holdings LLC. Ms. Chen disclaims any beneficial ownership of the securities held by Helix Holdings LLC other than to the extent of any pecuniary interest she may have therein, directly or indirectly.
F2	Various funds (the "Cormorant Funds") managed by Cormorant Asset Management, LP are the record holders of these securities. Bihua Chen is the founder and managing member of Cormorant Asset Management, LP and has voting and investment discretion with respect to the ordinary shares held by the Cormorant Funds. Ms. Chen disclaims any beneficial ownership of such securities other than to the extent of any pecuniary interest she may have therein, directly or indirectly.
F3	Each of the Issuer's Class B Ordinary Shares were convertible into Class A Ordinary Shares upon consummation of the Issuer's initial business combination and had no expiration date. In connection with the consummation of the Issuer's initial business combination ("Business Combination") and pursuant to the Business Combination Agreement dated as of October 4, 2021, by and between the Issuer, MoonLake Immunotherapeutics AG, and the other parties thereto (the "Business Combination Agreement"), such Class B Ordinary Shares automatically converted into an equal number of Class A Ordinary Shares.
F4	In connection with the Business Combination, the Cormorant Funds entered into Subscription Agreements with the Issuer dated as of October 4, 2021 and March 31, 2022, pursuant to which, at the closing of the Business Combination, the Cormorant Funds purchased an aggregate of 2,850,000 Class A Ordinary Shares at a price of $10.00 per share.