- Accession Number:
- Form Type:
- Zero Holdings:
- Publication Time:
- 2016-12-01 17:13:04
- Reporting Period:
- Filing Date:
- Accepted Time:
- 2016-12-01 17:13:04
- SEC Url:
- Form 4 Filing
|Cik||Name||Symbol||Sector (SIC)||IRS No|
|867840||Precision Optics Corporation Inc.||PEYE||Electromedical & Electrotherapeutic Apparatus (3845)||042795294|
|Cik||Name||Reported Address||Insider Title||Director||Officer||Large Shareholder||Other|
|1369119||H Peter Woodward||C/o Precision Optics Corporation, Inc. |
22 East Broadway
Gardner MA 01440
Reported Non-Derivative Transactions
|Sec. Name||Acquisiton - Disposition||Date||Amount||Price||Remaning Holdings||Equity Swap Involved||Form Type||Code||Nature of Ownership||Explanation|
|Common Stock||Acquisiton||2016-11-29||156,667||$0.60||595,680||No||4||P||Indirect||Shares held through MHW Partners, L.P.|
|Equity Swap Involved||Form Type||Code||Nature of Ownership||Explanation|
|No||4||P||Indirect||Shares held through MHW Partners, L.P.|
Reported Derivative Transactions
|Sec. Name||Sec. Type||Acquisiton - Disposition||Date||Amount||Price||Amount - 2||Price - 2|
|Remaning Holdings||Exercise Date||Expiration Date||Equity Swap Involved||Transaction Form Type||Transaction Code||Nature of Ownership|
Reported Derivative Holdings
|Sec. Name||Sec. Type||Price||Date||Expiration Date||Amount||Remaning Holdings||Nature of Ownership|
|Common Stock||Stock Options||$0.73||2025-05-18||90,000||90,000||Direct|
|Expiration Date||Amount||Remaning Holdings||Nature of Ownership|
- The shares are held in the name of MHW Partners, L.P. Mr. Woodward is the managing member and general partner of MHW Partners, L.P. Mr. Woodward disclaims beneficial ownership of these shares except to the extent of his pecuniary interest in the shares.
- The 156,667 shares and warrants to purchase 78,333 shares of common stock were purchased in a private placement at a price of $0.60 per unit. Each unit consisted of one share of common stock and one warrant to purchase one half of one share of common stock (50% warrant coverage).
- The warrant exercise price is variable and depends on the Issuer's achievement of two financial performance criteria in fiscal year 2017. The warrant exercise price will be $0.40 per share, $0.20 per share or $0.01 per share if both, one or neither performance criteria are met, respectively.
- These warrants were issued as a result of triggering certain anti-dilution provisions in the original warrants in conjunction with the private placement. In connection therewith, the exercise price of the warrants decreased to $0.97 per share accordingly.
- The options vest in three installments: one-third vests immediately; one-third vests in one year on May 18, 2016; remaining one-third vests in two years on May 18, 2017.