Gaurav Aggarwal - Jul 11, 2023 Form 4 Insider Report for Unicycive Therapeutics, Inc. (UNCY)

Role
Director
Signature
/s/ Gaurav Aggarwal
Stock symbol
UNCY
Transactions as of
Jul 11, 2023
Transactions value $
-$8,077,000
Form type
4
Date filed
7/13/2023, 08:42 PM
Previous filing
Mar 9, 2023
Next filing
Sep 7, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction UNCY Common Stock Conversion of derivative security +3.47M 3.47M Jul 11, 2023 By Vivo Opportunity Fund Holdings, L.P. F1, F2

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 UNCY Series A-1 Preferred Stock Conversion of derivative security -$8.08M -8.08K -100% $1,000.00* 0 Jul 11, 2023 Common Stock 60M $0.49 By Vivo Opportunity Fund Holdings, L.P. F1, F2
transaction UNCY Series A-2 Preferred Stock Conversion of derivative security $0 +13.4M $0.00 13.4M Jul 11, 2023 Common Stock 13.4M By Vivo Opportunity Fund Holdings, L.P. F1, F2, F3
transaction UNCY Tranche A Warrants (right to buy) Conversion of derivative security $0 +12.8M $0.00 12.8M Jul 11, 2023 Series A-3 Preferred Stock 12.8M $0.54 By Vivo Opportunity Fund Holdings, L.P. F1, F2, F3, F4
transaction UNCY Tranche B Warrants (right to buy) Conversion of derivative security $0 +11.6M $0.00 11.6M Jul 11, 2023 Series A-4 Preferred Stock 11.6M $0.59 By Vivo Opportunity Fund Holdings, L.P. F1, F2, F3, F4
transaction UNCY Tranche C Warrants (right to buy) Conversion of derivative security $0 +18.6M $0.00 18.6M Jul 11, 2023 Series A-5 Preferred Stock 18.6M $0.74 By Vivo Opportunity Fund Holdings, L.P. F1, F2, F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On July 11, 2023, the 8,077 shares of Series A-1 Preferred Stock then held by Vivo Opportunity Fund Holdings, L.P. automatically converted into (i) 3,470,152 shares of Common Stock, (ii) 13,429,000 shares of Series A-2 Preferred Stock, (iii) Tranche A Warrants to purchase 12,802,388 shares of Series A-3 Preferred Stock, (iv) Tranche B Warrants to purchase 11,638,534 shares of Series A-4 Preferred Stock and (v) Tranche C Warrants to purchase 18,621,655 shares of Series A-5 Preferred Stock. The shares of Series A-1 Preferred Stock had no expiration date.
F2 Vivo Opportunity Fund Holdings, L.P. is the record holder of the securities. The Reporting Person is a managing member of Vivo Opportunity, LLC, which is the general partner of Vivo Opportunity Fund Holdings, L.P. The Reporting Person disclaims beneficial ownership over such securities except to the extent of his pecuniary interest therein, and the inclusion of such 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 Each of the Series A-2 Preferred Stock, Series A-3 Preferred Stock, Series A-4 Preferred Stock and Series A-5 Preferred Stock (collectively, the "Preferred Stock") is convertible into Common Stock on a one-for-one basis; however, the Preferred Stock is subject to blocking provisions which preclude such shares from being converted if such conversion would result in the holder obtaining greater than 9.99% of the Issuer's voting securities. The shares of Preferred Stock have no expiration date.
F4 The Tranche A Warrants, Tranche B Warrants and Tranche C Warrants are immediately exercisable for shares of Series A-3 Preferred Stock, Series A-4 Preferred Stock and Series A-5 Preferred Stock, respectively, and will each expire upon the Issuer's satisfaction of certain milestones.