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Filing Details

Accession Number:: 0001209191-13-005163
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2013-01-30 16:13:39
Reporting Period:: 2013-01-30

Filing Date:: 2013-01-30
Accepted Time:: 2013-01-30 16:13:39
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1168197	Liposcience Inc	LPDX	Services-Medical Laboratories (8071)	561879288

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1567218	Buzz Benson	C/O Sightline Vintage Management, Llc 50 South 6Th Street, Suite 1490 Minneapolis MN 55402		Yes	No	No	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Acquisiton	2013-01-30	788,834	$0.00	804,210	No	4	C	Indirect	By funds
Common Stock	Acquisiton	2013-01-30	50,000	$9.00	854,210	No	4	P	Indirect	By funds

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	C	Indirect	By funds
No	4	P	Indirect	By funds

Reported Derivative Transactions

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Sec. Name	Sec. Type	Acquisiton - Disposition	Date	Amount	Price	Amount - 2	Price - 2
Common Stock	Series B Convertible Preferred Stock	Disposition	2013-01-30	8,334	$0.00	9,700	$0.00
Common Stock	Series D-1 Convertible Preferred Stock	Disposition	2013-01-30	766,284	$0.00	445,977	$0.00
Common Stock	Series E Convertible Preferred Stock	Disposition	2013-01-30	388,074	$0.00	188,215	$0.00
Common Stock	Series F Convertible Preferred Stock	Disposition	2013-01-30	298,851	$0.00	144,942	$0.00

Equity Swap Involved	Transaction Form Type	Transaction Code	Nature of Ownership
No	4	C	Indirect
No	4	C	Indirect
No	4	C	Indirect
No	4	C	Indirect

Footnotes

The total represents shares received upon conversion of shares of Series B, Series D-1, Series E and Series F convertible preferred stock.
Effective immediately prior to the closing of the issuer's initial public offering of its common stock, each share of Series B convertible preferred stock automatically converted into 1.164 shares of common stock, each share of Series D-1 convertible preferred stock automatically converted into 0.582 shares of common stock and each share of Series E and Series F convertible preferred stock automatically converted into 0.485 shares of common stock. The convertible preferred stock had no expiration date.
The total includes 592,660 shares held by SightLine Healthcare Fund III, L.P. ("SHF III"), 100,056 shares held by SightLine Healthcare Opportunity Fund, LLC ("SHOF") and 111,494 shares held by SightLine Healthcare Vintage Fund, L.P. ("SHVF").
The reporting person is a Managing Director of each of (a) SightLine Healthcare Management III, L.P., the general partner of SHF III, (b) SightLine Opportunity Management, LLC, the managing member of SHOF and (c) SightLine Vintage Management, LLC, the general partner of SHVF. The reporting person may be deemed to beneficially own the reported securities but disclaims beneficial ownership of such reported securities except to the extent of his pecuniary interest therein. The filing of this statement shall not be deemed an admission that the reporting person is, for purposes of Section 16 of the Securities Exchange Act of 1934 or otherwise, the beneficial owner of the equity securities covered by this statement.
These shares were purchased by SHVF in issuer's initial public offering.
The total includes 592,660 shares held by SHF III, 100,056 shares held by SHOF and 161,494 shares held by SHVF.
The Series B Convertible Preferred Stock converted into common stock on a 1.164-for-1 basis and had no expiration date.
SHOF owned these shares of Series B Convertible Preferred Stock.
The Series D-1 Convertible Preferred Stock converted into common stock on a 0.582-for-1 basis and had no expiration date.
SHF III owned these shares of Series D-1 Convertible Preferred Stock.
The Series E and Series F Convertible Preferred Stock converted into common stock on a 0.485-for-1 basis and had no expiration date.
SHF III owned 201,772 shares of Series E Convertible Preferred Stock and SHOF owned 186,302 shares of Series E Convertible Preferred Stock.
SHF III owned 68,966 shares of Series F Convertible Preferred Stock and SHVF owned 229,885 shares of Series F Convertible Preferred Stock.