Edward Pershing - Jul 15, 2022 Form 4 Insider Report for PROVECTUS BIOPHARMACEUTICALS, INC. (PVCT)

Role: Director
Signature: /s/ Edward Pershing
Stock symbol: PVCT
Transactions as of: Jul 15, 2022
Transactions value $: $225,000
Form type: 4
Date filed: 8/12/2022, 11:14 AM
Previous filing: Jun 22, 2021
Next filing: Oct 5, 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
transaction	PVCT	8% Unsecured Convertible Promissory Note due 2023	Award	$150K				$150K	Jul 15, 2022	Series D-1 Convertible Preferred Stok	52.4K	$2.86	Direct	F1, F2
transaction	PVCT	8% Unsecured Convertible Promissory Note due 2023	Award	$75K				$75K	Jul 27, 2022	Series D-1 Convertible Preferred Stok	26.2K	$2.86	Direct	F1, F2

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

Explanation of Responses:

Id	Content
F1	The Reporting Person may elect to convert the outstanding principal and interest of the 8% unsecured convertible promissory note due 2023 (the "Note") as follows: (i) the Note is convertible into shares of Series D-1 Convertible Preferred Stock, par value $0.001 per share ("Series D-1 Preferred Stock") at a price per share equal to $2.862; (ii) in the event the Issuer conducts a qualified equity financing in the aggregate amount of $20 million, the Note is convertible into the shares of capital stock being issued by the Issuer in such qualified equity financing at the price per share being paid by the investors in such qualified equity financing; and (iii) in the event the Issuer conducts a qualified debt financing with more favorable terms than the Note in the aggregate amount of $20 million, the Note may be exchanged for the debt instrument being issued by the Issuer in such qualified debt financing.
F2	Each share of Series D-1 Preferred Stock is convertible into 10 shares of the Issuer's common stock, par value $0.001 per share ("Common Stock"). The Series D-1 Preferred Stock will automatically convert into Common Stock on June 20, 2026, unless earlier converted into Common Stock in accordance with the terms of the Certificate of Designation for the Series D-1 Preferred Stock.

Content

The Reporting Person may elect to convert the outstanding principal and interest of the 8% unsecured convertible promissory note due 2023 (the "Note") as follows: (i) the Note is convertible into shares of Series D-1 Convertible Preferred Stock, par value $0.001 per share ("Series D-1 Preferred Stock") at a price per share equal to $2.862; (ii) in the event the Issuer conducts a qualified equity financing in the aggregate amount of $20 million, the Note is convertible into the shares of capital stock being issued by the Issuer in such qualified equity financing at the price per share being paid by the investors in such qualified equity financing; and (iii) in the event the Issuer conducts a qualified debt financing with more favorable terms than the Note in the aggregate amount of $20 million, the Note may be exchanged for the debt instrument being issued by the Issuer in such qualified debt financing.

Each share of Series D-1 Preferred Stock is convertible into 10 shares of the Issuer's common stock, par value $0.001 per share ("Common Stock"). The Series D-1 Preferred Stock will automatically convert into Common Stock on June 20, 2026, unless earlier converted into Common Stock in accordance with the terms of the Certificate of Designation for the Series D-1 Preferred Stock.