Page 2 of 12 – SEC Filing
| CUSIP No. 72942A107 | |||||||
| (1) Names of Reporting Persons | |||||||
| Park West Asset Management LLC | |||||||
| (2) Check the Appropriate Box if a Member of a Group (See Instructions) | (a) [ ] | ||||||
| (b) [ ] | |||||||
| (3) SEC Use Only | |||||||
| (4) Citizenship or Place of Organization | |||||||
| Delaware | |||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: | |||||||
| (5) Sole Voting Power: | 1,075,723* | ||||||
| (6) Shared Voting Power: | 0 | ||||||
| (7) Sole Dispositive Power: | 1,075,723* | ||||||
| (8) Shared Dispositive Power: | 0 | ||||||
| (9) Aggregate Amount Beneficially Owned by Each Reporting Person | |||||||
| 1,075,723* | |||||||
| (10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions): | |||||||
| [ ] | |||||||
| (11) Percent of Class Represented by Amount in Row (9) | |||||||
| 12.4%* | |||||||
| (12) Type of Reporting Person (See Instructions): | |||||||
| IA | |||||||
* Beneficial ownership percentage is
based upon 8,683,915 shares of common stock, $0.001 par value per share (“Common Stock”), of PLx Pharma Inc., a
Delaware corporation (the “Company”), issued and outstanding immediately after the consummation of the
Company’s public offering of Common Stock, as reported by the Company in its prospectus supplement dated June 9, 2017
(File No. 333-204830), filed with the Securities and Exchange Commission on June 12, 2017. Park West Asset
Management LLC (“PWAM”) is the investment manager to Park West Investors Master Fund, Limited, a Cayman Islands
exempted company (“PWIMF”), and Park West Partners International, Limited, a Cayman Islands exempted company
(“PWPI” and, collectively with PWIMF, the “PW Funds”), and Peter S. Park (“Mr. Park” and,
collectively with PWAM, the “Reporting Persons”) is the sole member and manager of PWAM. As of June 9,
2017, PWIMF held 953,465 shares of Common Stock and, subject to the limitation described below, warrants to purchase up to
902,528 shares of Common Stock and PWPI held 122,258 shares of Common Stock and, subject to the limitation described below,
warrants to purchase up to 115,653 shares of Common Stock. The warrants are not exercisable until December 15,
2017, expire on June 14, 2027, and contain a provision prohibiting exercise to the extent that the holder, together with its
affiliates, would beneficially own in excess of 9.99% of the number of shares of Common Stock outstanding immediately after
giving effect to such exercise (subject to decrease upon prior written notice to the Company). As a result of the foregoing, for
purposes of Reg. Section 240.13d-3, the Reporting Persons may be deemed to beneficially own the 1,075,723 shares of Common
Stock held in the aggregate by the PW Funds, and no shares of Common Stock underlying the warrants held in the aggregate by
the PW Funds, for an aggregate beneficial ownership percentage of approximately 12.4% of the shares of Common Stock deemed
issued and outstanding as of June 9, 2017.
