Page 8 of 11 – SEC Filing
SWIM Partners LP is a Delaware limited partnership.
Item 3. Source and Amount of Funds or Other Consideration
Ronin Capital, LLC is the record owner of an aggregate of 111,699 shares of Preferred Stock which were purchased for an aggregate consideration of $2,376,767 (after giving effect to the sale of 46 shares of Preferred Stock on March 6, 2017 for $1,028). The source of funds used to purchase such shares was working capital of Ronin Capital, LLC. The aggregate consideration reflects the Reporting Persons basis in those shares for filed income tax purposes. John S. Stafford, III is the indirect beneficial owner of all of the shares of Preferred Stock of the Issuer held of record by Ronin Capital, LLC.
SW Investment Management LLC is the record owner of an aggregate of 11,800 shares of Preferred Stock which were purchased for an aggregate consideration of $251,570. The source of funds used to purchase such shares was working capital of SW Investment Management LLC. The aggregate consideration reflects the Reporting Persons basis in those shares for filed income tax purposes. Stephen White is the indirect beneficial owner of all of the shares of Preferred Stock of Peregrine Pharmaceuticals, Inc. held of record or beneficially owned by SW Investment Management LLC by virtue of his having sole voting and dispositive power over such shares.
SWIM Partners LP is the owner of an aggregate of 8,680 shares of Preferred Stock which were purchased for an aggregate consideration of $184,863. The source of funds used to purchase such shares was working capital of SWIM Partners LP. The aggregate consideration reflects the Reporting Persons basis in those shares for filed income tax purposes. SW Investment Management LLC is the indirect beneficial owner of all of the shares of Preferred Stock of Peregrine Pharmaceuticals, Inc. held of record by SWIM Partners LP by virtue of its having sole voting and dispositive power over such shares. Stephen White is the indirect beneficial owner of all of the shares of Preferred Stock of Peregrine Pharmaceuticals, Inc. held of record or beneficially owned by SW Investment Management LLC by virtue of his having sole voting and dispositive power over such shares.
Each share of Preferred Stock is convertible into a number of shares of the Issuers common stock determined by dividing the liquidation preference of $25.00 per share by the conversion price, currently $3.00 per share. The Reporting Persons acting as a group for purposes of Regulation 13D also hold 5% or more of the Common Stock of Peregrine Pharmaceuticals, Inc. as reported in its separate Statement on Schedule 13D filed on March 2, 2017, as amended on March 8, 2017.
Item 4. Purpose of Transaction
Ronin Capital, LLC acquired the above reported shares of Preferred Stock based on its belief that the securities represent an attractive investment opportunity, and such purchases have been made in the ordinary course of business. John S. Stafford, III is the indirect beneficial owner of all of the securities of Peregrine Pharmaceuticals, Inc. held of record by Ronin Capital, LLC.
SW Investment Management LLC acquired the above reported shares of Preferred Stock based on its belief that the securities represent an attractive investment opportunity, and such purchases have been made in the ordinary course of business. Stephen White is the indirect beneficial owner of all of the securities of Peregrine Pharmaceuticals, Inc. held of record or beneficially owned by SW Investment Management LLC by virtue of his having sole voting and dispositive power over such shares.
SWIM Partners LP acquired the above reported shares of Preferred Stock based on its belief that the securities represent an attractive investment opportunity, and such purchases have been made in the ordinary course of business. SW Investment Management LLC is the indirect beneficial owner of all of the securities of Peregrine Pharmaceuticals, Inc. held of record by SWIM Partners LP by virtue of its having sole voting and dispositive power over such shares. Stephen White is the indirect beneficial owner of all of the securities of Peregrine Pharmaceuticals, Inc. held of record or beneficially owned by SW Investment Management LLC by virtue of his having sole voting and dispositive power over such shares.
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