Vivo Capital IX, LLC - 09 Aug 2023 Form 4 Insider Report for IO Biotech, Inc. (IOBT)

Role
10%+ Owner
Signature
/s/ Hongbo Lu, as a managing member of Vivo Opportunity, LLC
Issuer symbol
IOBT
Transactions as of
09 Aug 2023
Net transactions value
+$6,394,735
Form type
4
Filing time
10 Aug 2023, 09:03:21 UTC
Previous filing
05 May 2022
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction IOBT Common Stock Purchase $5,999,999 +3,157,894 $1.90 3,157,894 09 Aug 2023 By Vivo Opportunity Fund Holdings, L.P. F1, F2
holding IOBT Common Stock 3,015,545 09 Aug 2023 By: Vivo Capital Fund IX, L.P.

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 IOBT Warrants (Right to Buy) Purchase $394,737 +3,157,894 $0.1250* 3,157,894 09 Aug 2023 Common Stock 3,157,894 $2.47 By Vivo Opportunity Fund Holdings, L.P. F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Vivo Capital IX, LLC is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 Purchase was made pursuant to that certain Securities Purchase Agreement dated as of August 7, 2023, by and among the Issuer and the purchasers named therein.
F2 The securities are held directly by Vivo Opportunity Fund Holdings, L.P. Vivo Opportunity, LLC is the general partner of Vivo Opportunity Fund Holdings, L.P. As the managing members of Vivo Opportunity, LLC, Gaurav Aggarwal, Hongbo Lu, Kevin Dai, Frank Kung and Michael Chang share voting and dispositive power over the securities held by Vivo Opportunity Fund Holdings, L.P., but each disclaims beneficial ownership of such securities except to the extent of their individual pecuniary interest therein.
F3 These warrants expire at 5:00 p.m. on the earlier of (i) February 9, 2027, and (ii) one day prior to the closing of an Acquisition of the Issuer, as defined in the Form of Warrant, attached as Exhibit 4.1 to the Issuer's Current Report on Form 8-K, filed with the Securities and Exchange Commission on August 7, 2023, provided that the holder will be prohibited from exercising these warrants if, after giving effect to such exercise, the holder (together with such holder's affiliates and any other persons acting as a group together) would beneficially own in excess of 9.99% of the shares of common stock of the Issuer outstanding immediately after giving effect to such exercise.