Filing Details

Accession Number:
0001683168-16-000830
Form Type:
4
Zero Holdings:
No
Publication Time:
2016-12-01 17:13:04
Reporting Period:
2016-11-29
Filing Date:
2016-12-01
Accepted Time:
2016-12-01 17:13:04
SEC Url:
Form 4 Filing
Issuer
Cik Name Symbol Sector (SIC) IRS No
867840 Precision Optics Corporation Inc. PEYE Electromedical & Electrotherapeutic Apparatus (3845) 042795294
Insiders
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
Yes No No No
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
Common Stock Warrants Acquisiton 2016-11-29 78,333 $0.60 78,333 $0.00
Common Stock Warrants Acquisiton 2016-11-29 44,704 $0.00 44,704 $0.97
Remaning Holdings Exercise Date Expiration Date Equity Swap Involved Transaction Form Type Transaction Code Nature of Ownership
233,890 2017-10-02 2017-10-16 No 4 P Indirect
278,594 2012-09-28 2017-09-28 No 4 J Indirect
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
2025-05-18 90,000 90,000 Direct
Footnotes
  1. 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.
  2. 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).
  3. 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.
  4. 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.
  5. 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.