Edward Pershing - 01 Sep 2022 Form 4 Insider Report for PROVECTUS BIOPHARMACEUTICALS, INC. (PVCT)

Role
Director
Signature
/s/ Edward Pershing
Issuer symbol
PVCT
Transactions as of
01 Sep 2022
Net transactions value
-$185,000
Form type
4
Filing time
05 Oct 2023, 12:04:36 UTC
Previous filing
12 Aug 2022
Next filing
28 Oct 2022
SEC
View on sec.gov

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 Award $100,000 $100,000 01 Sep 2022 Series D-1 Convertible Preferred Stock 34,941 $2.86 Direct F1
transaction PVCT 8% Unsecured Convertible Promissory Note Options Exercise $100,000 $0 01 Sep 2023 Series D-1 Convertible Preferred Stock 37,760 $2.86 Direct F1, F2
transaction PVCT 8% Unsecured Convertible Promissory Note Options Exercise $75,000 $2,127,500 23 Sep 2023 Series D-1 Convertible Preferred Stock 28,320 $2.86 Direct F3, F4
transaction PVCT 8% Unsecured Convertible Promissory Note Options Exercise $110,000 $2,017,500 30 Sep 2023 Series D-1 Convertible Preferred Stock 41,518 $2.86 Direct F3, F5
transaction PVCT Series D-1 Convertible Preferred Stock Options Exercise $0 +37,760 +6.7% $0.000000 601,651 01 Sep 2023 Common Stock 377,600 Direct F6, F7
transaction PVCT Series D-1 Convertible Preferred Stock Options Exercise $0 +28,320 +4.7% $0.000000 629,971 23 Sep 2023 Common Stock 283,200 Direct F6, F7
transaction PVCT Series D-1 Convertible Preferred Stock Options Exercise $0 +41,518 +6.6% $0.000000 671,489 30 Sep 2023 Common Stock 415,180 Direct F6, F7
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The Reporting Person could have elected 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 On September 1, 2023, the Note was converted into 37,760 shares of Series D-1 Preferred Stock.
F3 The Reporting Person could have voluntarily elected to convert the outstanding principal and interest of the 8% unsecured convertible promissory note due 2023 (the "2022 Note") at any time while the 2022 Note was outstanding into shares of Series D-1 Convertible Preferred Stock at a price per share equal to $2.862. The outstanding principal and interest of the 2022 Note automatically converted into shares of Series D-1 Preferred Stock at a price per share equal to $2.862 on the date which is twelve months after the issue date of the 2022 Note. The 2022 Note was issued pursuant to the Issuer's 2022 Financing.
F4 On September 23, 2023, the 2022 Note was converted into 28,320 shares of Series D-1 Preferred Stock.
F5 On September 30, 2023, the 2022 Note was converted into 41,518 shares of Series D-1 Preferred Stock.
F6 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").
F7 The Series D-1 Convertible 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 Convertible Preferred Stock.