Filing Details

Accession Number:
0000921895-18-002794
Form Type:
4
Zero Holdings:
No
Publication Time:
2018-10-17 17:27:35
Reporting Period:
2018-10-15
Accepted Time:
2018-10-17 17:27:35
SEC Url:
Form 4 Filing
Issuer
Cik Name Symbol Sector (SIC) IRS No
1041024 Rockwell Medical Inc. RMTI Electromedical & Electrotherapeutic Apparatus (3845) 383317208
Insiders
Cik Name Reported Address Insider Title Director Officer Large Shareholder Other
1540462 Richmond Brothers, Inc. 3568 Wildwood Avenue
Jackson MI 49202
No No No Yes
1697890 Rbi Private Investment Ii, Llc 3568 Wildwood Avenue
Jackson MI 49202
No No No Yes
1698614 S. David Richmond 3568 Wildwood Avenue
Jackson MI 49202
No No Yes Yes
1698617 J. Matthew Curfman 3568 Wildwood Avenue
Jackson MI 49202
No No No Yes
1698718 Rbi Pi Manager, Llc 3568 Wildwood Avenue
Jackson MI 49202
No No Yes Yes
1698720 Rbi Private Investment I, Llc 3568 Wildwood Avenue
Jackson MI 49202
No No No Yes
1698822 Plan Sharing Profit 401(K) Brothers Richmond 3568 Wildwood Avenue
Jackson MI 49202
No No No Yes
1755611 Rbi Opportunities Fund, Llc 3568 Wildwood Avenue
Jackson MI 49202
No No No Yes
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 2018-10-15 5,541,562 $0.00 5,541,562 No 4 P Indirect By: The RBI Opportunities Fund, LLC
Equity Swap Involved Form Type Code Nature of Ownership Explanation
No 4 P Indirect By: The RBI Opportunities Fund, LLC
Reported Derivative Transactions
Sec. Name Sec. Type Acquisiton - Disposition Date Amount Price Amount - 2 Price - 2
Common Stock Warrants (right to buy) Acquisiton 2018-10-15 5,541,562 $0.00 2,770,781 $4.96
Remaning Holdings Exercise Date Expiration Date Equity Swap Involved Transaction Form Type Transaction Code Nature of Ownership
5,541,562 2019-04-17 2023-10-17 No 4 P Indirect
Reported Non-Derivative Holdings
Sec. Name Remaning Holdings Nature of Ownership Explanation
Common Stock 164,841 Indirect By: RBI Private Investment I, LLC
Common Stock 38,490 Indirect By: RBI Private Investment II, LLC
Common Stock 52,680 Indirect By: Richmond Brothers 401(k) Profit Sharing Plan
Common Stock 176,376 Direct
Common Stock 42,536 Indirect By: Matthew J. Curfman
Common Stock 36,249 Indirect By: Spouse of Matthew J. Curfman
Common Stock 28,096 Indirect By: Spouse of David S. Richmond
Common Stock 147 Indirect By: Daughter of David S. Richmond
Common Stock 7 Indirect By: Son of David S. Richmond
Footnotes
  1. This Form 4 is filed jointly by RBI Private Investment I, LLC ("RBI PI"), RBI Private Investment II, LLC ("RBI PII"), The RBI Opportunities Fund, LLC ("RBI Opportunities"), RBI PI Manager, LLC ("RBI Manager"), Richmond Brothers 401(k) Profit Sharing Plan ("RBI Plan"), Richmond Brothers, Inc. ("Richmond Brothers"), David S. Richmond and Matthew J. Curfman (collectively, the "Reporting Persons"). Each of the Reporting Persons may be deemed to be a member of a Section 13(d) group that may be deemed to collectively beneficially own more than 10% of the Issuer's outstanding shares of Common Stock.
  2. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein except to the extent of his or its pecuniary interest therein. The filing of this Form 4 shall not be deemed an admission that the Reporting Persons are, for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended, the beneficial owners of any securities of the Issuer he or it does not directly own.
  3. Not reported herein are shares of Common Stock held in certain accounts managed by Richmond Brothers (the "Separately Managed Accounts"). Richmond Brothers is entitled to a management fee from the Separately Managed Accounts based solely on the value of assets under management. Accordingly, neither Richmond Brothers nor any other Reporting Person has a pecuniary interest in any of the shares held in the Separately Managed Accounts for purposes of Section 16.
  4. On October 15, 2018, RBI Opportunities purchased 5,541,562 shares of Common Stock and warrants to purchase 2,770,781 shares of Common Stock for an aggregate purchase price of $22 million pursuant to a private placement by the Issuer. The reported securities are included within 5,541,562 Units purchased by RBI Opportunities for $3.97 per Unit. Each Unit consists of one share of Common Stock and a warrant to purchase 50% of a share of Common Stock. The warrants have an exercise price of $4.96 per full share of Common Stock.
  5. Represents securities directly owned by RBI Opportunities. RBI Manager, as the manager of RBI Opportunities, may be deemed to beneficially own the securities owned directly by RBI Opportunities. Mr. Richmond, as the manager of RBI Manager, may be deemed to beneficially own the securities owned directly by RBI Opportunities.
  6. Represents securities directly owned by RBI PI. RBI Manager, as the manager of RBI PI, may be deemed to beneficially own the securities owned directly by RBI PI. Mr. Richmond, as the manager of RBI Manager, may be deemed to beneficially own the securities owned directly by RBI PI.
  7. Represents securities directly owned by RBI PII. RBI Manager, as the manager of RBI PII, may be deemed to beneficially own the securities owned directly by RBI PII. Mr. Richmond, as the manager of RBI Manager, may be deemed to beneficially own the securities owned directly by RBI PII.
  8. Represents securities directly owned by RBI Plan. Messrs. Richmond and Curfman, as trustees of RBI Plan, may be deemed to beneficially own the securities owned directly by RBI Plan.
  9. Represents securities directly owned by Mr. Richmond's spouse. Mr. Richmond may be deemed to beneficially own the securities owned directly by his spouse.
  10. Represents securities directly owned by Mr. Richmond's daughter. Mr. Richmond may be deemed to beneficially own the securities owned directly by his daughter.
  11. Represents securities directly owned by Mr. Richmond's son. Mr. Richmond may be deemed to beneficially own the securities owned directly by his son.
  12. Represents securities directly owned by Mr. Curfman's spouse. Mr. Curfman may be deemed to beneficially own the securities owned directly by his spouse.