13G Filing: Sabby Capital and Arca Biopharma Inc. (ABIO)

Page 7 of 9 – SEC Filing

( (iv)
Shared power to dispose or to direct the disposition of
557,652
.As calculated in accordance with Rule 13d-3 of the Securities Exchange
Act of 1934, as amended, (i) Sabby Healthcare Master Fund,
Ltd. and Sabby Volatility Master Fund, Ltd. beneficially own 446,052 and
111,600 shares of the Issuer’s common stock (Common Stock), respectively,
representing approximately 3.80% and 0.95% of the Common Stock,
respectively, and (ii) Sabby Management, LLC and Hal Mintz each
beneficially own 557,652 shares of the Common Stock, representing
approximately 4.75% of the Common Stock. Sabby Management, LLC and Hal
Mintz do not directly own any shares of Common Stock, but each indirectly
owns 557,652 shares of Common Stock. Sabby Management, LLC, a Delaware
limited liability company, indirectly owns 557,652 shares of Common
Stock because it serves as the investment manager of Sabby Healthcare
Volatility Master Fund, Ltd. and Sabby Volatility Warrant Master Fund,
Ltd., Cayman Islands companies. Mr. Mintz indirectly owns 557,652
shares of Common Stock in his capacity as manager of Sabby Management,
LLC.

Item 5.
Ownership of Five Percent or Less of a Class.

If this statement is being filed to report the fact that as of the date
hereof the reporting person has ceased to be the beneficial owner of more
than five percent of the class of securities, check the following [X].

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