Vivo Opportunity, LLC - May 8, 2023 Form 3 Insider Report for SOLENO THERAPEUTICS INC (SLNO)

Role
10%+ Owner
Signature
VIVO OPPORTUNITY, LLC, By: /s/ Gaurav Aggarwal
Stock symbol
SLNO
Transactions as of
May 8, 2023
Transactions value $
$0
Form type
3
Date filed
5/15/2023, 05:01 PM
Previous filing
Dec 23, 2022
Next filing
Sep 28, 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
holding SLNO Tranche A Warrants (right to buy) May 8, 2023 Common Stock 3.2M $1.75 By Vivo Opportunity Fund Holdings, L.P. F1, F2
holding SLNO Tranche B Warrants (right to buy) May 8, 2023 Common Stock 5.22M $2.50 By Vivo Opportunity Fund Holdings, L.P. F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The Tranche A Warrants are immediately exercisable and expire upon the earlier of (i) November 8, 2026 or (ii) 30 days of announcement of positive top-line data from the randomized withdrawal period of the Issuer's Study C602, an open-label extension study pertaining to Diazoxide Choline Extended-Release tablets (DCCR) for the treatment of Prader-Willi syndrome (PWS). Notwithstanding the foregoing, the exercise of such Warrants is subject to a 19.99% beneficial ownership blocking provision, which will terminate upon approval of the Issuer's stockholders of the issuance of shares underlying such Warrants.
F2 Vivo Opportunity, LLC is the general partner of Vivo Opportunity Fund Holdings, L.P., the record holder of the securities. Vivo Opportunity, LLC disclaims beneficial ownership over such securities except to the extent of its 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.
F3 The Tranche B Warrants are immediately exercisable and expire upon the earlier of (i) November 8, 2026 or (ii) 30 days following receipt of Food and Drug Administration's marketing approval of DCCR for the treatment of PWS. Notwithstanding the foregoing, the exercise of such Warrants is subject to a 19.99% beneficial ownership blocking provision, which will terminate upon approval of the Issuer's stockholders of the issuance of shares underlying such Warrants.