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Filing Details

Accession Number:: 0001140361-15-022698
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2015-06-01 17:41:11
Reporting Period:: 2015-05-29

Filing Date:: 2015-06-01
Accepted Time:: 2015-06-01 17:41:11
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1082506	Unwired Planet Inc.	UPIP	Services-Prepackaged Software (7372)	943219054

Insiders

Cik	Name	Reported Address	Director	Officer	Large Shareholder	Other
1250078	C Derek Schrier	C/O Indaba Capital Management, L.p. One Letterman Drive, Bldg D, Ste Dm700 San Francisco CA 94129	No	No	No	Yes
1516452	Indaba Capital Fund, L.p.	C/O Maples Corporate Services Limited 121 South Church Street Grand Cayman E9 KY1-1104	No	No	No	Yes
1524362	Indaba Capital Management, L.p.	One Letterman Drive, Building D, Suite Dm700 San Francisco CA 94129	No	No	No	Yes
1526324	Indaba Partners, Llc	One Letterman Drive Building D, Suite Dm700 San Francisco CA 94129	No	No	No	Yes
1596505	Ic Gp, Llc	One Letterman Drive, Building D, Suite Dm700 San Francisco CA 94129	No	No	No	Yes

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	Disposition	2015-05-29	5,500,000	$0.88	6,568,780	No	4	S	Indirect	See Footnote

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	S	Indirect	See Footnote

Footnotes

On May 29, 2015, pursuant to that Securities Purchase Agreement (the "Purchase Agreement") between Indaba Capital Fund, L.P. ("Indaba Capital") and certain funds managed by MAST Capital Management, LLC (the "Buyer"), dated as of May 21, 2015, Indaba Capital sold to the Buyer (i) 5,500,000 shares of common stock of Unwired Planet, Inc. (the "Issuer") held by Indaba Capital at a price per share equal to $0.8829, and (ii) senior secured notes due 2018 (the "Notes") issued by the Issuer pursuant to an Indenture dated as of June 28, 2014 (as amended from time to time, the "Indenture") with an aggregate Note Balance (as defined in the Indenture) of $31,228,492, for a purchase price that is 109.65625% of the then current aggregate Note Balance, plus the amount of interest accrued but unpaid through the date that is the earlier of
(i) consummation of the Note Transaction (as defined in the Purchase Agreement) in accordance with the terms of the Purchase Agreement and (ii) 20 business days following the date of the Purchase Agreement, determined as if the interest on the Notes were payable in cash rather than as a PIK Payment (as defined in the Indenture).
Indaba Capital directly holds 6,568,780 shares of the Issuer's common stock. Such shares of common stock directly held by Indaba Capital may be deemed to be indirectly beneficially owned by (a) Indaba Capital Management, L.P. ("Indaba Capital Management") by virtue of its role as the investment manager of Indaba Capital, (b) Indaba Partners, LLC ("Indaba Partners"), by virtue of its role as the general partner of Indaba Capital, (c) IC GP, LLC, by virtue of its role as general partner of Indaba Capital Management, and (d) Derek C. Schrier as the Managing Member of IC GP, LLC and the Senior Managing Member of Indaba Partners.
Each Reporting Person hereby disclaims beneficial ownership of the reported securities except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that any Reporting Person is the beneficial owner of the reported securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.