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Filing Details

Accession Number:: 0000899243-20-019207
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2020-07-15 18:16:49
Reporting Period:: 2020-07-13

Accepted Time:: 2020-07-15 18:16:49
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
861838	Idera Pharmaceuticals Inc.	IDRA	Biological Products, (No Disgnostic Substances) (2836)	043072298

Insiders

Cik	Name	Reported Address	Director	Officer	Large Shareholder	Other
1193366	El Youssef Zein	Pillar Invest Offshore Sal, Starco Ctr, Bloc B, 3Rd Floor, Omar Daouk Street Beirut M8 2020-3313	No	No	Yes	No
1534428	Pillar Invest Corp	Pillar Invest Offshore Sal Starco Ctr, Bloc B, 3Rd Floor, Omar Daouk Street Beirut M8 2020-3313	No	No	Yes	No
1783582	Abude Umari	Pillar Invest Offshore Sal Starco Ctr, Bloc B, 3Rd Floor, Omar Daouk Street Beirut M8 2020-3313	No	No	Yes	No
1783583	Pillar Partners Foundation, L.p.	Pillar Invest Offshore Sal Starco Ctr Bloc B, 3Rd Floor, Omar Daouk Street Beirut M8 2020-3313	No	No	Yes	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Acquisiton	2020-07-13	749,993	$1.72	5,427,697	No	4	P	Indirect	By Pillar Partners Foundation, L.P.See Footnotes

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	P	Indirect	By Pillar Partners Foundation, L.P.See Footnotes

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Prefunded Warrants	Acquisiton	2020-07-13	2,014,234	$0.00	2,014,234	$0.00
Common Stock	Common Warrants	Acquisiton	2020-07-13	2,764,227	$0.00	2,764,227	$0.00

Remaning Holdings	Exercise Date	Expiration Date	Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
2,014,234			No	4	P	Indirect
2,764,227			No	4	P	Indirect

Reported Non-Derivative Holdings

Sec. Name	Remaning Holdings	Nature of Ownership	Explanation
Common Stock	21,100	Indirect	By Pillar Pharmaceuticals I, L.P.See Footnote
Common Stock	20,820	Indirect	By Pillar Pharmaceuticals II, L.P.See Footnote
Common Stock	29,998	Indirect	By Pillar Pharmaceuticals III, L.P.See Footnote
Common Stock	1,000	Indirect	By Pillar Pharmaceuticals IV, L.P.See Footnote
Common Stock	25,000	Indirect	By Pillar Pharmaceuticals V, L.P.See Footnote
Common Stock	1,288,368	Indirect	By Pillar Pharmaceuticals 6, L.P.See Footnote
Common Stock	6,724	Indirect	By Youssef El ZeinSee Footnote
Common Stock	190,117	Indirect	By Abude UmariSee Footnotes

Footnotes

On July 13, 2020, upon the consummation of a private placement of the Issuer (the "Private Placement"), Pillar Partners Foundation, L.P. ("Pillar Foundation"), acquired, in the Private Placement, (i) 749,993 shares of common stock (the "Pillar Foundation Shares") (ii) pre-funded warrants to purchase 2,014,234 shares of common stock of the Issuer (the "Prefunded Warrants") and (iii) warrants to purchase 2,764,267 shares of common stock of the Issuer (the "Common Warrants" and together with the Prefunded Warrants, the "Pillar Foundation Warrants"). The price per share for the Pillar Foundation Shares was $1.72, and the price per Pillar Foundation Warrant was $0.125.
Pillar Invest Corporation ("Pillar GP") is the general partner of Pillar Pharmaceuticals I, L.P., Pillar Pharmaceuticals II, L.P., Pillar Pharmaceuticals III, L.P., Pillar Pharmaceuticals IV, L.P., Pillar Pharmaceuticals V, L.P., Pillar Pharmaceuticals 6, L.P. ("Pillar 6") and Pillar Foundation (collectively, the "Pillar Funds"). Youssef El Zein and Abude Umari are directors of Pillar GP. Each of Pillar GP, Mr. El Zein and Mr. Umari disclaims Section 16 beneficial ownership of the securities beneficially owned by the Pillar Funds and this report shall not be deemed an admission that any of Pillar GP, Mr. El Zein or Mr. Umari is the Section 16 beneficial owner of any such securities, except to the extent of its or his pecuniary interest therein, if any, by virtue of its or his ownership interest in the Pillar Funds or Pillar GP, as applicable.
Includes 103,891 shares received in a prior pro rata, without value distribution from Pillar 6, and 46,304 shares received in a prior pro rata, without value distribution from Pillar Foundation. These distributions were effected in compliance with the exemptions afforded pursuant to Rule 16a-9 and Rule 16a-13 of the Securities Exchange Act of 1934, as amended.
The exercise price of each Prefunded Warrant is $0.01 per Share, subject to adjustment pursuant to the terms of the Prefunded Warrants.
The Pre-funded warrants have no expiration date and are exercisable immediately, to the extent that after giving effect to such exercise the holders thereof and their affiliates would beneficially own, for purposes of Rule 13d-3 under the Securities Act of 1934, as amended, no more than 19.99% of the outstanding shares of Common Stock (the "Beneficial Ownership Limitation").
The exercise price of each Common Warrant is $2.58 per share, subject to adjustment pursuant to the terms of the Common Warrants.
The Common Warrants are currently exercisable; provided, however, that the Common Warrants are subject to the Beneficial Ownership Limitation. The Common Warrants expire 3 years following their issuance date.