Filing Details
- Accession Number:
- 0000921895-20-002118
- Form Type:
- 13G Filing
- Publication Date:
- 2020-08-06 17:43:33
- Filed By:
- Bigger Capital Fund L P
- Company:
- Skye Bioscience Inc. (OTCMKTS:SKYE)
- Filing Date:
- 2020-08-07
- SEC Url:
- 13G Filing
Please notice the below summary table is generated without human intervention and may contain errors. Please refer to the complete filing displayed below for exact figures.
Name | Sole Voting Power | Shared Voting Power | Sole Dispositive Power | Shared Dispositive Power | Aggregate Amount Owned Power | Percent of Class |
---|---|---|---|---|---|---|
Bigger Capital Fund | 0 | 0 | 7,083,833 | 7,083,833 | 3.0% | |
Bigger Capital Fund GP | 0 | 0 | 7,083,833 | 7,083,833 | 3.0% | |
District | 0 | 0 | 7,083,834 | 7,083,834 | 3.0% | |
District | 0 | 0 | 7,083,834 | 7,083,834 | 3.0% | |
District | 0 | 0 | 7,083,834 | 7,083,834 | 3.0% | |
District | 0 | 0 | 7,083,834 | 7,083,834 | 3.0% | |
Michael Bigger | 0 | 0 | 14,167,667 | 14,167,667 | 5.9 % |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
(Rule 13d-102)
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
TO RULES 13d-1(b), (c), AND (d) AND AMENDMENTS THERETO FILED
PURSUANT TO RULE 13d-2(b)
(Amendment No. )1
Emerald Bioscience, Inc. |
(Name of Issuer) |
Common Stock, par value $0.001 per share |
(Title of Class of Securities) |
29102Y101 |
(CUSIP Number) |
July 31, 2020 |
(Date of Event Which Requires Filing of this Statement) |
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
☐ | Rule 13d-1(b) |
☒ | Rule 13d-1(c) |
☐ | Rule 13d-1(d) |
1 The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
1 |
1 | NAME OF REPORTING PERSON | ||||||||||||||||||
Bigger Capital Fund, LP | |||||||||||||||||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) ☒ | |||||||||||||||||
(b) ☐ | |||||||||||||||||||
3 | SEC USE ONLY | ||||||||||||||||||
4 | CITIZENSHIP OR PLACE OF ORGANIZATION | ||||||||||||||||||
Delaware | |||||||||||||||||||
NUMBER OF | 5 | SOLE VOTING POWER | |||||||||||||||||
SHARES | |||||||||||||||||||
BENEFICIALLY | 0 | ||||||||||||||||||
OWNED BY | 6 | SHARED VOTING POWER | |||||||||||||||||
EACH | |||||||||||||||||||
REPORTING | 7,083,833 shares of Common Stock 7,083,833 shares of Common Stock issuable upon exercise of Warrants (See Item 4)* | ||||||||||||||||||
PERSON WITH | 7 | SOLE DISPOSITIVE POWER | |||||||||||||||||
0 | |||||||||||||||||||
8 | SHARED DISPOSITIVE POWER | ||||||||||||||||||
7,083,833 shares of Common Stock 7,083,833 shares of Common Stock issuable upon exercise of Warrants (See Item 4)* | |||||||||||||||||||
9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | ||||||||||||||||||
7,083,833 shares of Common Stock 7,083,833 shares of Common Stock issuable upon exercise of Warrants (See Item 4)* | |||||||||||||||||||
10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES | ☐ | |||||||||||||||||
11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) | ||||||||||||||||||
3.0%* | |||||||||||||||||||
12 | TYPE OF REPORTING PERSON | ||||||||||||||||||
PN |
* As more fully described in Item 4, the Warrants are subject to a 4.99% blocker, and the percentage set forth in row (11) constitutes the percentage ownership of the Issuer’s outstanding Common Stock, $.001 par value per share (the “Common Stock”) held by the Reporting Person without reflecting for the exercise of the Warrants. However, as more fully described in Item 4, the securities reported in rows (6), (8) and (9) show the number of shares of Common Stock that would be issuable upon the exercise of all such Warrants and do not give effect to such blockers. Therefore, the actual number of shares of Common Stock beneficially owned by such Reporting Person, after giving effect to such blockers, is less than the number of securities reported in rows (6), (8) and (9).
2 |
1 | NAME OF REPORTING PERSON | ||||||||||||||||||
Bigger Capital Fund GP, LLC | |||||||||||||||||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) ☒ | |||||||||||||||||
(b) ☐ | |||||||||||||||||||
3 | SEC USE ONLY | ||||||||||||||||||
4 | CITIZENSHIP OR PLACE OF ORGANIZATION | ||||||||||||||||||
Delaware | |||||||||||||||||||
NUMBER OF | 5 | SOLE VOTING POWER | |||||||||||||||||
SHARES | |||||||||||||||||||
BENEFICIALLY | 0 | ||||||||||||||||||
OWNED BY | 6 | SHARED VOTING POWER | |||||||||||||||||
EACH | |||||||||||||||||||
REPORTING | 7,083,833 shares of Common Stock 7,083,833 shares of Common Stock issuable upon exercise of Warrants (See Item 4)* | ||||||||||||||||||
PERSON WITH | 7 | SOLE DISPOSITIVE POWER | |||||||||||||||||
0 | |||||||||||||||||||
8 | SHARED DISPOSITIVE POWER | ||||||||||||||||||
7,083,833 shares of Common Stock 7,083,833 shares of Common Stock issuable upon exercise of Warrants (See Item 4)* | |||||||||||||||||||
9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | ||||||||||||||||||
7,083,833 shares of Common Stock 7,083,833 shares of Common Stock issuable upon exercise of Warrants (See Item 4)* | |||||||||||||||||||
10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES | ☐ | |||||||||||||||||
11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) | ||||||||||||||||||
3.0%* | |||||||||||||||||||
12 | TYPE OF REPORTING PERSON | ||||||||||||||||||
OO |
* As more fully described in Item 4, the Warrants are subject to a 4.99% blocker, and the percentage set forth in row (11) constitutes the percentage ownership of the Issuer’s Common Stock held by the Reporting Person without reflecting for the exercise of the Warrants. However, as more fully described in Item 4, the securities reported in rows (6), (8) and (9) show the number of shares of Common Stock that would be issuable upon the exercise of all such Warrants and do not give effect to such blockers. Therefore, the actual number of shares of Common Stock beneficially owned by such Reporting Person, after giving effect to such blockers, is less than the number of securities reported in rows (6), (8) and (9).
3 |
1 | NAME OF REPORTING PERSON | ||||||||||||||||||
District 2 Capital Fund LP | |||||||||||||||||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) ☒ | |||||||||||||||||
(b) ☐ | |||||||||||||||||||
3 | SEC USE ONLY | ||||||||||||||||||
4 | CITIZENSHIP OR PLACE OF ORGANIZATION | ||||||||||||||||||
Delaware | |||||||||||||||||||
NUMBER OF | 5 | SOLE VOTING POWER | |||||||||||||||||
SHARES | |||||||||||||||||||
BENEFICIALLY | 0 | ||||||||||||||||||
OWNED BY | 6 | SHARED VOTING POWER | |||||||||||||||||
EACH | |||||||||||||||||||
REPORTING | 7,083,834 shares of Common Stock 7,083,834 shares of Common Stock issuable upon exercise of Warrants (See Item 4)* | ||||||||||||||||||
PERSON WITH | 7 | SOLE DISPOSITIVE POWER | |||||||||||||||||
0 | |||||||||||||||||||
8 | SHARED DISPOSITIVE POWER | ||||||||||||||||||
7,083,834 shares of Common Stock 7,083,834 shares of Common Stock issuable upon exercise of Warrants (See Item 4)* | |||||||||||||||||||
9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | ||||||||||||||||||
7,083,834 shares of Common Stock 7,083,834 shares of Common Stock issuable upon exercise of Warrants (See Item 4)* | |||||||||||||||||||
10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES | ☐ | |||||||||||||||||
11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) | ||||||||||||||||||
3.0%* | |||||||||||||||||||
12 | TYPE OF REPORTING PERSON | ||||||||||||||||||
PN |
* As more fully described in Item 4, the Warrants are subject to a 4.99% blocker, and the percentage set forth in row (11) constitutes the percentage ownership of the Issuer’s Common Stock held by the Reporting Person without reflecting for the exercise of the Warrants. However, as more fully described in Item 4, the securities reported in rows (6), (8) and (9) show the number of shares of Common Stock that would be issuable upon the exercise of all such Warrants and do not give effect to such blockers. Therefore, the actual number of shares of Common Stock beneficially owned by such Reporting Person, after giving effect to such blockers, is less than the number of securities reported in rows (6), (8) and (9).
4 |
1 | NAME OF REPORTING PERSON | ||||||||||||||||||
District 2 Capital LP | |||||||||||||||||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) ☒ | |||||||||||||||||
(b) ☐ | |||||||||||||||||||
3 | SEC USE ONLY | ||||||||||||||||||
4 | CITIZENSHIP OR PLACE OF ORGANIZATION | ||||||||||||||||||
Delaware | |||||||||||||||||||
NUMBER OF | 5 | SOLE VOTING POWER | |||||||||||||||||
SHARES | |||||||||||||||||||
BENEFICIALLY | 0 | ||||||||||||||||||
OWNED BY | 6 | SHARED VOTING POWER | |||||||||||||||||
EACH | |||||||||||||||||||
REPORTING | 7,083,834 shares of Common Stock 7,083,834 shares of Common Stock issuable upon exercise of Warrants (See Item 4)* | ||||||||||||||||||
PERSON WITH | 7 | SOLE DISPOSITIVE POWER | |||||||||||||||||
0 | |||||||||||||||||||
8 | SHARED DISPOSITIVE POWER | ||||||||||||||||||
7,083,834 shares of Common Stock 7,083,834 shares of Common Stock issuable upon exercise of Warrants (See Item 4)* | |||||||||||||||||||
9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | ||||||||||||||||||
7,083,834 shares of Common Stock 7,083,834 shares of Common Stock issuable upon exercise of Warrants (See Item 4)* | |||||||||||||||||||
10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES | ☐ | |||||||||||||||||
11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) | ||||||||||||||||||
3.0%* | |||||||||||||||||||
12 | TYPE OF REPORTING PERSON | ||||||||||||||||||
PN |
* As more fully described in Item 4, the Warrants are subject to a 4.99% blocker, and the percentage set forth in row (11) constitutes the percentage ownership of the Issuer’s Common Stock held by the Reporting Person without reflecting for the exercise of the Warrants. However, as more fully described in Item 4, the securities reported in rows (6), (8) and (9) show the number of shares of Common Stock that would be issuable upon the exercise of all such Warrants and do not give effect to such blockers. Therefore, the actual number of shares of Common Stock beneficially owned by such Reporting Person, after giving effect to such blockers, is less than the number of securities reported in rows (6), (8) and (9).
5 |
1 | NAME OF REPORTING PERSON | ||||||||||||||||||
District 2 GP LLC | |||||||||||||||||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) ☒ | |||||||||||||||||
(b) ☐ | |||||||||||||||||||
3 | SEC USE ONLY | ||||||||||||||||||
4 | CITIZENSHIP OR PLACE OF ORGANIZATION | ||||||||||||||||||
Delaware | |||||||||||||||||||
NUMBER OF | 5 | SOLE VOTING POWER | |||||||||||||||||
SHARES | |||||||||||||||||||
BENEFICIALLY | 0 | ||||||||||||||||||
OWNED BY | 6 | SHARED VOTING POWER | |||||||||||||||||
EACH | |||||||||||||||||||
REPORTING | 7,083,834 shares of Common Stock 7,083,834 shares of Common Stock issuable upon exercise of Warrants (See Item 4)* | ||||||||||||||||||
PERSON WITH | 7 | SOLE DISPOSITIVE POWER | |||||||||||||||||
0 | |||||||||||||||||||
8 | SHARED DISPOSITIVE POWER | ||||||||||||||||||
7,083,834 shares of Common Stock 7,083,834 shares of Common Stock issuable upon exercise of Warrants (See Item 4)* | |||||||||||||||||||
9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | ||||||||||||||||||
7,083,834 shares of Common Stock 7,083,834 shares of Common Stock issuable upon exercise of Warrants (See Item 4)* | |||||||||||||||||||
10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES | ☐ | |||||||||||||||||
11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) | ||||||||||||||||||
3.0%* | |||||||||||||||||||
12 | TYPE OF REPORTING PERSON | ||||||||||||||||||
OO |
* As more fully described in Item 4, the Warrants are subject to a 4.99% blocker, and the percentage set forth in row (11) constitutes the percentage ownership of all of the Issuer’s Common Stock held by the Reporting Person without reflecting for the exercise of the Warrants. However, as more fully described in Item 4, the securities reported in rows (6), (8) and (9) show the number of shares of Common Stock that would be issuable upon the exercise of all such Warrants and do not give effect to such blockers. Therefore, the actual number of shares of Common Stock beneficially owned by such Reporting Person, after giving effect to such blockers, is less than the number of securities reported in rows (6), (8) and (9).
6 |
1 | NAME OF REPORTING PERSON | ||||||||||||||||||
District 2 Holdings LLC | |||||||||||||||||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) ☒ | |||||||||||||||||
(b) ☐ | |||||||||||||||||||
3 | SEC USE ONLY | ||||||||||||||||||
4 | CITIZENSHIP OR PLACE OF ORGANIZATION | ||||||||||||||||||
Delaware | |||||||||||||||||||
NUMBER OF | 5 | SOLE VOTING POWER | |||||||||||||||||
SHARES | |||||||||||||||||||
BENEFICIALLY | 0 | ||||||||||||||||||
OWNED BY | 6 | SHARED VOTING POWER | |||||||||||||||||
EACH | |||||||||||||||||||
REPORTING | 7,083,834 shares of Common Stock 7,083,834 shares of Common Stock issuable upon exercise of Warrants (See Item 4)* | ||||||||||||||||||
PERSON WITH | 7 | SOLE DISPOSITIVE POWER | |||||||||||||||||
0 | |||||||||||||||||||
8 | SHARED DISPOSITIVE POWER | ||||||||||||||||||
7,083,834 shares of Common Stock 7,083,834 shares of Common Stock issuable upon exercise of Warrants (See Item 4)* | |||||||||||||||||||
9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | ||||||||||||||||||
7,083,834 shares of Common Stock 7,083,834 shares of Common Stock issuable upon exercise of Warrants (See Item 4)* | |||||||||||||||||||
10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES | ☐ | |||||||||||||||||
11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) | ||||||||||||||||||
3.0%* | |||||||||||||||||||
12 | TYPE OF REPORTING PERSON | ||||||||||||||||||
OO |
* As more fully described in Item 4, the Warrants are subject to a 4.99% blocker, and the percentage set forth in row (11) constitutes the percentage ownership of the Issuer’s Common Stock held by the Reporting Person without reflecting for the exercise of the Warrants. However, as more fully described in Item 4, the securities reported in rows (6), (8) and (9) show the number of shares of Common Stock that would be issuable upon the exercise of all such Warrants and do not give effect to such blockers. Therefore, the actual number of shares of Common Stock beneficially owned by such Reporting Person, after giving effect to such blockers, is less than the number of securities reported in rows (6), (8) and (9).
7 |
1 | NAME OF REPORTING PERSON | ||||||||||||||||||
Michael Bigger | |||||||||||||||||||
2 | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP | (a) ☒ | |||||||||||||||||
(b) ☐ | |||||||||||||||||||
3 | SEC USE ONLY | ||||||||||||||||||
4 | CITIZENSHIP OR PLACE OF ORGANIZATION | ||||||||||||||||||
USA | |||||||||||||||||||
NUMBER OF | 5 | SOLE VOTING POWER | |||||||||||||||||
SHARES | |||||||||||||||||||
BENEFICIALLY | 0 | ||||||||||||||||||
OWNED BY | 6 | SHARED VOTING POWER | |||||||||||||||||
EACH | |||||||||||||||||||
REPORTING | 14,167,667 shares of Common Stock* 14,167,667 shares of Common Stock issuable upon exercise of Warrants (See Item 4)* | ||||||||||||||||||
PERSON WITH | 7 | SOLE DISPOSITIVE POWER | |||||||||||||||||
0 | |||||||||||||||||||
8 | SHARED DISPOSITIVE POWER | ||||||||||||||||||
14,167,667 shares of Common Stock* 14,167,667 shares of Common Stock issuable upon exercise of Warrants (See Item 4)* | |||||||||||||||||||
9 | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON | ||||||||||||||||||
14,167,667 shares of Common Stock* 14,167,667 shares of Common Stock issuable upon exercise of Warrants (See Item 4)* | |||||||||||||||||||
10 | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES | ☐ | |||||||||||||||||
11 | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) | ||||||||||||||||||
5.9 %* | |||||||||||||||||||
12 | TYPE OF REPORTING PERSON | ||||||||||||||||||
IN |
* Consists of 7,083,833 shares of Common Stock owned by Bigger Capital, 7,083,833 shares of Common Stock issuable upon exercise of Warrants owned by Bigger Capital, 7,083,834 shares of Common Stock owned by District 2 CF and 7,083,834 shares of Common Stock issuable upon exercise of Warrants owned by District 2 CF. As more fully described in Item 4, the Warrants are subject to a 4.99% blocker, and the percentage set forth in row (11) gives effect to such blockers. However, as more fully described in Item 4, the securities reported in rows (6), (8) and (9) show the number of shares of Common Stock that would be issuable upon the exercise of all such Warrants and do not give effect to such blockers. Therefore, the actual number of shares of Common Stock beneficially owned by such Reporting Person, after giving effect to such blockers, is less than the number of securities reported in rows (6), (8) and (9).
8 |
Item 1(a). | Name of Issuer: |
Emerald Bioscience, Inc., a Delaware corporation (the “Issuer”).
Item 1(b). | Address of Issuer’s Principal Executive Offices: |
130 North Marina Drive
Long Beach, California 90803
Item 2(a). | Name of Person Filing |
Item 2(b). | Address of Principal Business Office or, if None, Residence |
Item 2(c). | Citizenship |
Bigger Capital Fund, LP (“Bigger Capital”)
175 W. Carver Street
Huntington, NY 11743
Citizenship: Delaware
Bigger Capital Fund GP, LLC (“Bigger GP”)
175 W. Carver Street
Huntington, NY 11743
Citizenship: Delaware
District 2 Capital Fund LP (“District 2 CF”)
175 W. Carver Street
Huntington, NY 11743
Citizenship: Delaware
District 2 Capital LP (“District 2”)
175 W. Carver Street
Huntington, NY 11743
Citizenship: Delaware
District 2 GP LLC (“District 2 GP”)
175 W. Carver Street
Huntington, NY 11743
Citizenship: Delaware
District 2 Holdings LLC (“District 2 Holdings”)
175 W. Carver Street
Huntington, NY 11743
Citizenship: Delaware
Michael Bigger
175 W. Carver Street
Huntington, NY 11743
Citizenship: USA
Each of the foregoing is referred to as a “Reporting Person” and collectively as the “Reporting Persons.”
9 |
Item 2(d). | Title of Class of Securities: |
Common Stock, $0.001 par value (the “Common Stock”).
Item 2(e). | CUSIP Number: |
29102Y101
Item 3. | If This Statement is Filed Pursuant to Rule 13d-1(b), or 13d-2(b) or (c), Check Whether the Person Filing is a: |
/x/ | Not applicable. | ||
(a) | / / | Broker or dealer registered under Section 15 of the Exchange Act. | |
(b) | / / | Bank as defined in Section 3(a)(6) of the Exchange Act. | |
(c) | / / | Insurance company as defined in Section 3(a)(19) of the Exchange Act. | |
(d) | / / | Investment company registered under Section 8 of the Investment Company Act. | |
(e) | / / | An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E). | |
(f) | / / | An employee benefit plan or endowment fund in accordance with Rule 13d-1(b)(1)(ii)(F). | |
(g) | / / | A parent holding company or control person in accordance with Rule 13d-1(b)(1)(ii)(G). | |
(h) | / / | A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act. | |
(i) | / / | A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act. | |
(j) | / / | A non-U.S. institution in accordance with Rule 13d-1(b)(1)(ii)(J). | |
(k) | / / | Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K). | |
If filing as a non-U.S. institution in accordance with Rule 240.13d-1(b)(1)(ii)(J), please specify the type of institution: ____ |
Item 4. | Ownership |
(a) | Amount beneficially owned: |
As of July 31, 2020, Bigger Capital beneficially owned 7,083,833 shares of Common Stock, and an aggregate of 7,083,833 shares of Common Stock currently issuable upon the exercise of Warrants with an exercise price of $0.06 per share (the “Warrants”). As described below, the Warrants contain a 4.99% beneficial ownership limitation.
10 |
Bigger GP, as the general partner of Bigger Capital, may be deemed to beneficially own the 7,083,833 shares of Common Stock and 7,083,833 shares of Common Stock issuable upon exercise of Warrants beneficially owned by Bigger Capital.
As of July 31, 2020, District 2 CF beneficially owned 7,083,834 shares of Common Stock, and 7,083,834 shares of Common Stock issuable upon the exercise of Warrants owned by District 2 CF. As described below, the Warrants contain a 4.99% beneficial ownership limitation.
District 2, as the investment manager of District 2 CF, may be deemed to beneficially own the 7,083,834 shares of Common Stock beneficially owned by District 2 CF and the 7,083,834 shares of Common Stock issuable upon exercise of the Warrants beneficially owned by District 2 CF.
District 2 GP, as the general partner of District 2 CF, may be deemed to beneficially own the 7,083,834 shares of Common Stock beneficially owned by District 2 CF and the 7,083,834 shares of Common Stock issuable upon exercise of the Warrants beneficially owned by District 2 CF.
District 2 Holdings, as the managing member of District 2 GP, may be deemed to beneficially own the 7,083,834 shares of Common Stock beneficially owned by District 2 CF and the 7,083,834 shares of Common Stock issuable upon exercise of the Warrants beneficially owned by District 2 CF.
Mr. Bigger, as the managing member of Bigger GP and the managing member of District 2 Holdings, may be deemed to beneficially own the (i) 7,083,833 shares of Common Stock beneficially owned by Bigger Capital, (ii) 7,083,834 shares of Common Stock beneficially owned by District 2 CF, (iii) 7,083,833 shares of Common Stock issuable upon exercise of Warrants owned by Bigger Capital, and (iv) 7,083,834 shares of Common Stock issuable upon exercise of Warrants owned by District 2 CF.
The foregoing should not be construed in and of itself as an admission by any Reporting Person as to beneficial ownership of any shares of Common Stock owned by another Reporting Person. Each of Bigger GP and Mr. Bigger disclaims beneficial ownership of the shares of Common Stock beneficially owned by Bigger Capital. Each of District 2, District 2 GP, District 2 Holdings and Mr. Bigger disclaims beneficial ownership of the shares of Common Stock beneficially owned by District 2 CF. The filing of this statement shall not be construed as an admission that any such person or entity is the beneficial owner of any such securities.
(b) | Percent of class: |
The following percentages are based on 239,541,001 shares of Common Stock outstanding as of July 31, 2020, based on disclosure in the Company’s Prospectus Supplement filed with the Securities and Exchange Commission on August 3, 2020 and other information.
As of the close of business on July 31, 2020, (i) each of Bigger Capital and Bigger GP may be deemed to beneficially own approximately 3.0% of the outstanding shares of Common Stock, (ii) each of District 2 CF, District 2, District 2 GP and District 2 Holdings may be deemed to beneficially own 3.0% of the outstanding shares of Common Stock and (iii) Mr. Bigger may be deemed to beneficially own approximately 5.9% of the outstanding shares of Common Stock.
11 |
Pursuant to the terms of the Warrants, the Reporting Persons cannot exercise the Warrants to the extent the Reporting Persons or affiliates of the Reporting Persons would beneficially own, after any such exercise, more than 4.99% of the outstanding shares of Common Stock (the “Blockers”), and the percentage set forth in Row 11 of the cover page for each Reporting Person as well in this Item 4(b) gives effect to the Blockers. Mr. Bigger may be deemed to be the beneficial owner of more than 4.99% of the outstanding shares of Common Stock. Consequently, as of the date of the event which requires the filing of this statement, the Reporting Persons were not able to exercise any of the Warrants due to the Blockers.
(c) | Number of shares as to which such person has: |
(i) | Sole power to vote or to direct the vote |
See Cover Pages Items 5-9.
(ii) | Shared power to vote or to direct the vote |
See Cover Pages Items 5-9.
(iii) | Sole power to dispose or to direct the disposition of |
See Cover Pages Items 5-9.
(iv) | Shared power to dispose or to direct the disposition of |
See Cover Pages Items 5-9.
Item 5. | Ownership of Five Percent or Less of a Class. |
Not Applicable.
Item 6. | Ownership of More than Five Percent on Behalf of Another Person. |
Bigger GP and Mr. Bigger may be deemed to share voting and dispositive power over the shares of Common Stock beneficially owned by Bigger Capital. District 2, District 2 GP, District 2 Holdings and Mr. Bigger may be deemed to share voting and dispositive power over the shares of Common Stock beneficially owned by District 2 CF.
Item 7. | Identification and Classification of the Subsidiary That Acquired the Security Being Reported on by the Parent Holding Company or Control Person. |
Not Applicable.
Item 8. | Identification and Classification of Members of the Group. |
See Exhibit 99.1.
Item 9. | Notice of Dissolution of Group. |
Not Applicable.
12 |
Item 10. | Certifications. |
By signing below each of the undersigned certifies that, to the best of its knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.
13 |
SIGNATURE
After reasonable inquiry and to the best of his knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.
Dated: August 6, 2020
Bigger Capital Fund, LP | Bigger Capital Fund GP, LLC | |||
By: | Bigger Capital Fund GP, LLC, its general partner | By: | /s/ Michael Bigger | |
Michael Bigger | ||||
By: | /s/ Michael Bigger | Managing Member | ||
Michael Bigger | ||||
Managing Member | ||||
District 2 Capital LP | ||||
District 2 Capital Fund LP | By: | /s/ Michael Bigger | ||
Michael Bigger | ||||
By: | District 2 GP LLC, its general partner | Managing Member | ||
By: | /s/ Michael Bigger | |||
Michael Bigger | District 2 Holdings LLC | |||
Managing Member | ||||
By: | /s/ Michael Bigger | |||
Michael Bigger | ||||
District 2 GP LLC | Managing Member | |||
By: | /s/ Michael Bigger | |||
Michael Bigger | /s/ Michael Bigger | |||
Managing Member | Michael Bigger |
14 |