Sophiris Bio Inc. (NASDAQ:SPHS): Sabby Capital Reports Large New Stake

Page 7 of 9 – SEC Filing

(iv)
Shared power to dispose or to direct the disposition of
2,483,330
.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 1,615,000 and 868,330
shares of the Issuer’s common stock (Common Stock), respectively,
representing approximately 5.55% and 2.98% of the Common Stock,
respectively, and (ii) Sabby Management, LLC and Hal Mintz each beneficially
own 2,483,330 shares of the Common Stock, representing approximately 8.53%
of the Common Stock. Sabby Management, LLC and Hal Mintz do not directly own
any shares of Common Stock, but each indirectly owns 2,483,330 shares of
Common Stock. Sabby Management, LLC, a Delaware limited liability company,
indirectly owns 2,483,330 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 2,483,330 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 [ ].