Robert Baffi - Feb 18, 2022 Form 4 Insider Report for Mosaic ImmunoEngineering Inc. (CPMV)

Role
Director
Signature
/s/ Paul Lytle, as attorney-in-fact for Robert A. Baffi, Ph.D.
Stock symbol
CPMV
Transactions as of
Feb 18, 2022
Transactions value $
$50,000
Form type
4
Date filed
2/22/2022, 06:55 PM
Previous filing
Jul 16, 2021
Next filing
Dec 26, 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 CPMV Convertible Note Other $50K $50K Feb 18, 2022 See footnotes Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The Convertible Notes were issued on February 18, 2022 in exchange of $50,000 in proceeds to the Company; have no stated maturity date or expiration date; bear interest at a simple rate equal to eight percent (8.0%) per annum until converted; and automatically convert into the same equity securities offered in the Qualified Financing (see footnote 2 and 3) or at the option of the holder into the same equity securities offered in a Smaller Financing (see footnote 2 and 3).
F2 Upon a Qualified Financing or Smaller Financing (see footnote 3), the conversion price shall be equal to the lower of (i) the product equal to 80% times the lowest per unit purchase price of the equity securities issued for cash in the Qualified Financing or Smaller Financing (representing a 20% discount), or (ii) $1.00.
F3 A Qualified Financing represents a single transaction or series or transactions whereby the Company receives aggregate gross proceeds of at least $5 million from the sale of equity securities following the issuance date of the Convertible Note (excluding proceeds from the issuance of any future Convertible Notes). A Smaller Financing represents any sale of equity securities whereby the aggregate gross proceeds are less than $5 million (excluding proceeds from the issuance of any future Convertible Notes).