Swarth Investments Ltd. - 30 Mar 2023 Form 4 Insider Report for Ribbon Communications Inc. (RBBN)

Reporting relationship: 10%+ Owner
Issuer ticker: RBBN
Reported as of: 30 Mar 2023
Net transaction value: +$6,515,002
SEC form: 4
Accepted by SEC: 03 Apr 2023, 16:05:37 UTC
Prior SEC filing: 18 Aug 2022
Source filing: View source filing
Reporting owner signature: /s/ Suzanne Hart, Nicholas Moss - Directors

Filing notes and source

Key filing fact

Swarth Investments Ltd. filed Form 4 for Ribbon Communications Inc. (RBBN) on 03 Apr 2023.

Key facts

This page summarizes Swarth Investments Ltd.'s Form 4 filing for Ribbon Communications Inc. (RBBN).
2 reported transactions and 1 derivative row are listed below.
Accepted by SEC: 03 Apr 2023, 16:05.

Change

Previous filing in this sequence was filed on 18 Aug 2022.
Current net transaction value: +$6,515,002.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

RBBN transaction

Series A Preferred Stock

Purchase

Transaction value: $4,850,000
Shares: +5,000
Change %
Price: $970.00^*
Shares after: 5,000
Date: 30 Mar 2023
Ownership: Direct
Footnotes: F1, F2

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

RBBN transaction Derivative

Warrant

Purchase

Transaction value: $1,665,002
Shares: +441,645
Change %
Price: $3.77
Shares after: 441,645
Date: 30 Mar 2023
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 27,877,384
Exercise price: $3.77
Footnotes: F1, F2

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 2 footnotes

Footnote F1

On March 28, 2023, the Reporting Person and the Issuer entered into a Securities Purchase Agreement (the "Purchase Agreement") among the Reporting Person, the Issuer and the other parties listed on the signature pages thereto, pursuant to which the Issuer issued in a private placement transaction (i) 55,000 shares of the Issuer's Series A Preferred Stock, par value $0.01 per share (the "Preferred Stock") and (ii) warrants (the "Warrants") to purchase up to an aggregate of 4,858,090 shares of the Issuer's common stock, par value $0.0001 per share (the "Common Stock"). Of the 55,000 shares of Preferred Stock issued under the Purchase Agreement, the Reporting Person acquired 5,000 shares of Preferred Stock. Of the Warrants issued under the Purchase Agreement, the Reporting Person acquired Warrants to purchase up to 441,645 shares of Common Stock.

Footnote F2

The transactions contemplated by the Purchase Agreement closed on March 30, 2023, at which time the Preferred Stock and Warrants were issued to the Reporting Person and the other purchasers.