13G Filing: Sabby Capital and Cytrx Corp (CYTR)

(iv)
Shared power to dispose or to direct the disposition of
11,400,000
.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 10,400,000 and 1,000,000
shares of the Issuer’s common stock (Common Stock), respectively,
representing approximately 7.36% and 0.71% of the Common Stock,
respectively, and (ii) Sabby Management, LLC and Hal Mintz each beneficially
own 11,400,000 shares of the Common Stock, representing approximately 8.07%
of the Common Stock. Sabby Management, LLC and Hal Mintz do not directly own
any shares of Common Stock, but each indirectly owns 11,400,000 shares of
Common Stock. Sabby Management, LLC, a Delaware limited liability company,
indirectly owns 11,400,000 shares of Common Stock because it serves as the
investment manager of Sabby Healthcare Master Fund, Ltd. and
Sabby Volatility Warrant Master Fund, Ltd., Cayman Islands companies.
Mr. Mintz indirectly owns 11,400,000 shares of Common Stock in his capacity
as manager of Sabby Management, LLC.