Filing Details

 

 

 

 

 

 

1	NAME OF REPORTING PERSON First Eagle Value in Biotechnology Master Fund, Ltd.
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP		(a) ☒ (b) ☐
3	SEC USE ONLY
4	SOURCE OF FUNDS WC
5	CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)		☐
6	CITIZENSHIP OR PLACE OF ORGANIZATION Cayman Islands
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:	7	SOLE VOTING POWER 0
	8	SHARED VOTING POWER 2,217,899 shares of Common Stock*
	9	SOLE DISPOSITIVE POWER 0
	10	SHARED DISPOSITIVE POWER 2,217,899 shares of Common Stock*
11	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON 2,217,899 shares of Common Stock *
12	CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES			☐
13	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 14.36%*
14	TYPE OF REPORTING PERSON CO

 

 * Includes 191,938 shares of Common Stock issuable upon the conversion of the Convertible Notes and 86,372 shares of Common Stock issuable upon exercise of the Warrants.

 

 

1	NAME OF REPORTING PERSON 21 April Fund, Ltd.
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP		(a) ☒ (b) ☐
3	SEC USE ONLY
4	SOURCE OF FUNDS WC
5	CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDING IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)		☐
6	CITIZENSHIP OR PLACE OF ORGANIZATION Cayman Islands
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:	7	SOLE VOTING POWER 0
	8	SHARED VOTING POWER 1,554,141 shares of Common Stock *
	9	SOLE DISPOSITIVE POWER 0
	10	SHARED DISPOSITIVE POWER 1,554,141 shares of Common Stock *
11	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON 1,554,141 shares of Common Stock *
12	CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES			☐
13	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 9.96%*
14	TYPE OF REPORTING PERSON CO

 

 * Includes 301,343 shares of Common Stock issuable upon the conversion of the Convertible Notes and 135,605 shares of Common Stock issuable upon exercise of the Warrants.

 

This Amendment No. 6 (“Amendment No. 6”) amends and supplements the statement on Schedule 13D filed with the Securities and Exchange Commission (the "SEC") on December 18, 2012 (the "Original Schedule 13D"), Amendment No.1 filed with the SEC on August 30, 2013 ("Amendment No. 1"), Amendment No. 2 filed with the SEC on April 25, 2016 ("Amendment No. 2"), Amendment No. 3 filed with the SEC on December 6, 2016 ("Amendment No. 3"), Amendment No. 4 filed with the SEC on February 5, 2018 (“Amendment No. 4”) and Amendment No. 5 filed with the SEC on April 17, 2018 (“Amendment No. 5”, and, together with the Original Schedule 13D, Amendment No. 1, Amendment No. 2, Amendment No. 3, Amendment No.4 and this Amendment No. 6, the "Schedule 13D") with respect to the common stock, no par value (the "Common Stock"), of Aradigm Corporation, a California corporation (the "Issuer"). Capitalized terms used herein and not otherwise defined in this Amendment No. 6 have the meanings set forth in the Original Schedule 13D (as amended). This Amendment No. 6 amends Item 6 as set forth below.

Item 6 of the Schedule 13D is hereby amended and supplemented by the addition of the following:

On April 18, 2018, following receipt of the requisite consent of holders of the Convertible Notes, the Issuer entered into a Supplemental Indenture (the “Supplemental Indenture”) with U.S. Bank National Association, as trustee, amending the terms of the Indenture to give effect to, among other things, (i) the addition of provisions permitting the Issuer to make future payments of interest on the Convertible Notes by increasing the outstanding principal amount of the Convertible Notes in the amount of the accrued interest being so paid, and (ii) the removal of the Convertible Note holders’ option to require the Issuer to repurchase the Convertible Notes upon the occurrence of certain events, any of which constituted a “Fundamental Change” (as defined in the Indenture).

The above description of the Supplemental Indenture is a summary only and is qualified in its entirety by reference to the copy of the foregoing document to be filed by the Issuer in the Issuer’s Current Report on Form 8-K.

 

SIGNATURES

After reasonable inquiry and to the best of his or its knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.

Date: April 20, 2018