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Filing Details

Accession Number:: 0001140888-10-000011
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2010-03-08 12:00:00
Reporting Period:: 2010-03-04

Filing Date:: 2010-03-08
Accepted Time:: 2010-03-08 17:30:55
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
873303	Avi Biopharma Inc	AVII	Pharmaceutical Preparations (2834)	930797222

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1140888	Eastbourne Capital Management Llc/Ca	1101 Fifth Avenue Suite 370 San Rafael CA 94901		No	No	Yes	No

Reported Non-Derivative Transactions

Show Other Fields >>

Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock	Disposition	2010-03-04	4,094,646	$1.24	5,659,211	No	4	S	Direct

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	S	Direct

Footnotes

Eastbourne Capital Management, L.L.C. ("Eastbourne") is the general partner or manager and investment adviser of investment funds that hold these securities directly on behalf of those funds' investors. Richard Jon Barry is Eastbourne's manager and controlling person. Eastbourne and Mr. Barry hold these securities indirectly in their capacity as investment adviser and control person, respectively. Eastbourne is filing this Form 4 on behalf of itself and Mr. Barry, jointly, but not as members of a group, and each of them disclaims membership in a group, within the meaning of Rule 13d-5(b) under the Securities Exchange Act of 1934, as amended. In addition, each of them disclaims beneficial ownership of such securities, except to the extent of its pecuniary interest therein.
The shares of Common Stock reported heron includes shares of Common Stock issuable on the exercise of Warrants held by the Filers, which are exercisable less than sixty days after the date hereof. The Warrants provide that the number of shares of Common Stock that may be acquired by the Warrantholders upon any exercise of Warrants shall be limited to the extent necessary to ensure that, following such exercise, the total number of shares of Common Stock then beneficially owned by such Warrantholder and its affiliates and any other persons whose benefical ownership of Common Stock would be aggregated with the Warrantholder's for purposes of Section 13(d) of the Exchange Act, does not exceed 4.99% of the total number of issued and outstanding shares of Common Stock (including for such purpose the shares of Common Stock issuable upon such exercise)(the "Beneficial Ownership Limitation"). (Continued below)
For such purposes, beneficial ownership shall be determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations thereunder. By written notice to the Issuer a Warrantholder may increase such limitation percentage to 9.99%.