Chaim Hurvitz - 14 Aug 2023 Form 4 Insider Report for Dror Ortho-Design, Inc. (DROR)

Reporting relationship: Director
Issuer ticker: DROR
Reported as of: 14 Aug 2023
Net transaction value: $0
SEC form: 4
Accepted by SEC: 27 Sep 2023, 21:33:00 UTC
Prior SEC filing: 23 Nov 2022
Next SEC filing: 11 Sep 2023
Source filing: View source filing
Reporting owner signature: /s/ Chaim Hurvitz

Key filing fact

Chaim Hurvitz filed Form 4 for Dror Ortho-Design, Inc. (DROR) on 27 Sep 2023.

Key facts

This page summarizes Chaim Hurvitz's Form 4 filing for Dror Ortho-Design, Inc. (DROR).
2 reported transactions and 2 derivative rows are listed below.
Accepted by SEC: 27 Sep 2023, 21:33.

Change

Previous filing in this sequence was filed on 23 Nov 2022.
Current net transaction value: $0.

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 derivative securities

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

NVNT transaction Derivative

Series A Convertible Preferred Stock

Award

Transaction value
Shares: +592,151
Change %
Price
Shares after: 592,151
Date: 14 Aug 2023
Ownership: See footnote
Underlying class: Common Stock
Underlying amount: 59,215,079
Exercise price: $0.0110
Footnotes: F1, F2, F3, F4

NVNT transaction Derivative

Common Warrants

Award

Transaction value
Shares: +42,417,309
Change %
Price
Shares after: 42,417,309
Date: 14 Aug 2023
Ownership: See footnote
Underlying class: Common Stock
Underlying amount: 42,417,309
Exercise price: $0.0330
Footnotes: F4, F5, F6, F7

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

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 7 footnotes

Footnote F1

Shares of Series A Convertible Preferred Stock, par value $0.0001 per share and with a stated value of $1.10 per share (the "Preferred Stock") of Dror Ortho-Design, Inc. (formerly Novint Technologies, Inc.) (the "Company") shall be convertible, at any time and from time to time at the option of the Holder thereof, into shares of the company's common stock, par value $0.0001 per share (the "Common Stock") from and after the date the Company has reserved shares of Common Stock on behalf of the holders of the Preferred Stock.

Footnote F2

The Preferred Stock is perpetual and therefore has no expiration date.

Footnote F3

Pursuant to a Share Exchange Agreement, dated July 5, 2023 (as amended, the "Share Exchange Agreement"), by and among the Company, Dror Ortho-Design Ltd. ("Private Dror"), and the shareholders of Private Dror, Shirat Hachaim Ltd ("Shirat Hachaim") transferred 16,103 ordinary shares of Private Dror, representing all ordinary shares of Private Dror beneficially owned by the reporting person, to the Company in exchange for shares of Preferred Stock (the "Share Exchange").

Footnote F4

The securities are held by Shirat Hachaim, an entity of which the reporting person is the sole owner and over whose shares the reporting person has sole voting and dispositive power .

Footnote F5

Warrants will be exercisable from and after the date the Company has reserved shares of Common Stock on behalf of the holders of the warrants (the "Initial Exercise Date").

Footnote F6

Warrants expire on the fifth anniversary of the Initial Exercise Date.

Footnote F7

Pursuant to a Warrant Exchange Agreement, dated August 14, 2023, between the Company and the reporting person, simultaneously with the Share Exchange, warrants to purchase 7,109 ordinary shares of Private Dror held by Shirat Hachaim, representing all warrants to purchase ordinary shares of Private Dror beneficially owned by the reporting person, were cancelled, and the Company issued to Shirat Hachaim warrants to purchase shares of the Company's Common Stock with an exercise price of $0.033 per share.