Hirofumi Katase - Oct 6, 2022 Form 4 Insider Report for Ivanhoe Electric Inc. (IE)

Role: Director
Signature: /s/ Katase Hirofumi
Stock symbol: IE
Transactions as of: Oct 6, 2022
Transactions value $: $65,222
Form type: 4
Date filed: 10/11/2022, 07:36 PM
Previous filing: Jul 1, 2022
Next filing: Nov 23, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	IE	Common Stock	Conversion of derivative security	$65.2K	+13.9K	+46.09%	$4.69	44.1K	Oct 6, 2022	Direct	F1
holding	IE	Common Stock						9.66M	Oct 6, 2022	By I-Pulse Inc.	F2

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	IE	I-Pulse Convertible Notes	Conversion of derivative security	$0	-63.9K	-100%	$0.00^*	0	Oct 6, 2022	Common Stock	13.9K	$4.69	Direct	F1

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

Explanation of Responses:

Id	Content
F1	Upon the consummation of an initial public offering ("IPO") that resulted in gross proceeds of at least $25 million (a "Qualifying IPO"), which was consummated by the Issuer on June 27, 2022, the I-Pulse Convertible Notes, including any accrued but unpaid interest, became exchangeable, in whole or in part, at the option of the holder, into shares of common stock currently held by I-Pulse at a price per share equal to the lesser of (A) 80% of the gross price per share at which common stock is sold in the Qualifying IPO, and (B) $4.6929 per share of common stock (as adjusted for the reverse stock split).
F2	The reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of the reported shares for purposes of Section 16 or for any other purpose.

Content

Upon the consummation of an initial public offering ("IPO") that resulted in gross proceeds of at least $25 million (a "Qualifying IPO"), which was consummated by the Issuer on June 27, 2022, the I-Pulse Convertible Notes, including any accrued but unpaid interest, became exchangeable, in whole or in part, at the option of the holder, into shares of common stock currently held by I-Pulse at a price per share equal to the lesser of (A) 80% of the gross price per share at which common stock is sold in the Qualifying IPO, and (B) $4.6929 per share of common stock (as adjusted for the reverse stock split).

The reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of the reported shares for purposes of Section 16 or for any other purpose.