Heather Raines - Feb 28, 2024 Form 4 Insider Report for PROVECTUS BIOPHARMACEUTICALS, INC. (PVCT)

Role
CFO
Signature
/s/ Heather Raines
Stock symbol
PVCT
Transactions as of
Feb 28, 2024
Transactions value $
-$50,000
Form type
4
Date filed
2/29/2024, 09:22 AM
Previous filing
Feb 6, 2024

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 2022 Disposed to Issuer -$50K $125K Feb 28, 2024 Series D-1 Convertible Preferred Stok 17.5K $2.86 Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On February 28, 2024, the Issuer repaid $50,000 of the amount outstanding under the 8% unsecured convertible promissory note due 2022 (the "Note").
F2 The Reporting Person may elect to convert the outstanding principal and interest of 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.
F3 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.