Filing Details
- Accession Number:
- 0000929638-23-002356
- Form Type:
- 4
- Zero Holdings:
- No
- Publication Time:
- 2023-08-25 16:25:02
- Reporting Period:
- 2023-08-23
- Accepted Time:
- 2023-08-25 16:25:02
- SEC Url:
- Form 4 Filing
Issuer
| Cik | Name | Symbol | Sector (SIC) | IRS No |
|---|---|---|---|---|
| 1588972 | Societal Cdmo Inc. | SCTL | Pharmaceutical Preparations (2834) | 261523233 |
Insiders
| Cik | Name | Reported Address | Insider Title | Director | Officer | Large Shareholder | Other |
|---|---|---|---|---|---|---|---|
| 1600004 | First Light Asset Management, Llc | 3300 Edinborough Way Suite 201 Edina MN 55435 | No | No | No | No | |
| 1991162 | Paul Mathew Arens | C/O First Light Asset Management, Llc 3300 Edinborough Way, Suite 201 Edina MN 55435 | No | 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 | 2023-08-24 | 6,250,000 | $0.40 | 19,676,396 | No | 4 | P | Indirect | See Footnote |
| Equity Swap Involved | Form Type | Code | Nature of Ownership | Explanation |
|---|---|---|---|---|
| No | 4 | P | Indirect | See Footnote |
Reported Derivative Transactions
| Sec. Name | Sec. Type | Acquisiton - Disposition | Date | Amount | Price | Amount - 2 | Price - 2 |
|---|---|---|---|---|---|---|---|
| Common Stock | Stock Option (right to buy) | Acquisiton | 2023-08-23 | 20,000 | $0.00 | 20,000 | $0.61 |
| Common Stock | Pre-Funded Warrant (right to buy) | Acquisiton | 2023-08-24 | 1,250,000 | $0.40 | 125,000 | $0.00 |
| Remaning Holdings | Exercise Date | Expiration Date | Equity Swap Involved | Transaction Form Type | Transaction Code | Nature of Ownership |
|---|---|---|---|---|---|---|
| 20,000 | 2033-08-23 | No | 4 | A | Direct | |
| 125,000 | 2023-08-24 | No | 4 | P | Direct |
Reported Non-Derivative Holdings
| Sec. Name | Remaning Holdings | Nature of Ownership | Explanation |
|---|---|---|---|
| Common Stock | 635,000 | Direct |
Footnotes
- Represents shares held for the benefit of private investment vehicles (the "Accounts") for which First Light Asset Management, LLC ("First Light") serves as investment adviser. Mr. Arens is the Managing Member, CEO and Senior Portfolio Manager of First Light. In such capacities, the Reporting Persons may be deemed to beneficially own securities held for the benefit of the Accounts. Each of the Reporting Persons disclaims beneficial ownership of the shares reported herein except to the extent of his or its pecuniary interest therein, and the filing of this Form 3 shall not be construed as an admission that any of the Reporting Persons is the beneficial owner of any such shares for purposes of Section 16(a) of the Securities Exchange Act of 1934, as amended, or for any other purpose.
- Stock options granted to Mr. Arens in his capacity as a director of the Issuer. Stock option vests in three equal annual installments, beginning on August 23, 2024, subject to Mr. Aren's continuous service with the Issuer.
- Held jointly by Mr. Arens and his wife. The warrant has no expiration date. Under its terms, the warrant may be converted to Common Stock only to the extent that such conversion would not cause (i) the holder itself to beneficially own in excess of 0.99% of the shares of Common Stock then outstanding or (ii) the holder, together with its affiliates and any other person or entity acting as a group, to beneficially own in excess of 19.95% of the shares of Common Stock then outstanding.
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