Bayer World Investments B.V. - Oct 7, 2021 Form 3 Insider Report for Pyxis Oncology, Inc. (PYXS)

Role: 10%+ Owner
Signature: Bayer World Investments B.V., By: /s/ Patrick Lennaerts, Name: Patrick Lennaerts, Title: Managing Director
Stock symbol: PYXS
Transactions as of: Oct 7, 2021
Transactions value $: $0
Form type: 3
Date filed: 10/7/2021, 09:18 PM
Next filing: Oct 15, 2021

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
holding	PYXS	Series A Convertible Preferred Stock							Oct 7, 2021	Common Stock	1.79M		Direct	F1, F2, F3
holding	PYXS	Series B Convertible Preferred Stock							Oct 7, 2021	Common Stock	956K		Direct	F1, F2, F3

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

Explanation of Responses:

Id	Content
F1	Shares of Series A and Series B Convertible Preferred Stock (collectively, the "Preferred Stock") have no expiration date and, as of the date of this filing, are convertible, at the option of the Reporting Persons, into shares of the Issuer's common stock at a 6.359-for-1 conversion rate for no additional consideration (subject to the payment of cash in lieu of any fractional shares).
F2	Reflects that each 6.359 shares of Preferred Stock will convert automatically into one share of the Issuer's common stock at the closing of the Issuer's initial public offering, for no additional consideration (subject to the payment of cash in lieu of any fractional shares).
F3	The securities reported are held directly by Bayer World Investments B.V., a Dutch private limited company, which is an indirect, wholly owned subsidiary of Bayer Aktiengesellschaft, a German stock corporation. Accordingly, Bayer Aktiengesellschaft may be deemed to be an indirect beneficial owner of the shares beneficially owned directly by Bayer World Investments B.V.