Filed on 2010-03-12 by 10x Capital Management, Llc SEC CIK 1457247 Form 4
Accession 0001453356-10-000006.txt Sec File: edgar/data/1457247/0001453356-10-000006-index.htm
2010-03-08 10x Fund Lp (CIK 1453356) through By 10x Fund Llp
Invested in Pro Pharmaceuticals Inc bought 167500 shares at $2 remaining shares owned 1660000
Series B-2 Convertible Preferred Stock Pro Pharmaceuticals Inc Prwp exercise price 0.5 has valueunderlying security shares 670000 underlying security title Common Stock
f2 on march 8, 2010, 10x fund, l.p. purchased (a) 167,500 shares of series b-2 preferred stock, (b) one class a-1 warrant to purchase 335,000 shares of common stock for $0.50 per share, (c) one class a-2 warrant to purchase 335,000 shares of common stock for $0.50 per share, and (d) one class b warrant to purchase 1,340,000 shares of common stock for $0.50 per share, for aggregate consideration of $335,000.
f3 10x fund, l.p. has direct beneficial ownership of all the securities owned by 10x fund, l.p. 10x capital management, llc, a florida limited liability company, is the general partner of 10x fund, l.p., a delaware limited partnership, and may be deemed to have indirect beneficial ownership of all or a portion of the securities owned directly by 10x fund, l.p., such portion being equal to 10x capital management, llc's (a) 20% interest in the profits of 10x fund, l.p., (b) interest in any securities which are used to pay a 2% annual management fee to 10x capital management, llc, and (c) interest in one-half of the class b warrants acquired by 10x fund, l.p. in all closings other than the initial closing held on february 12, 2009, less one class b warrant which 10x capital management, llc has committed to reallocate to investors in all prior closings until each such investor has one (1) additional class b warrant for each dollar invested.
f4 10x capital management, llc disclaims beneficial ownership of the reported securities except to the extent of its pecuniary interest therein.
f5 excludes (i) up to 440,000 shares of series b-2 preferred stock convertible into 1,760,000 shares of common stock; (ii) class a-1 warrants exercisable to purchase up to 880,000 shares of common stock; (iii) class a-2 warrants exercisable to purchase up to 880,000 shares of common stock; and (iv) class b warrants exercisable to purchase up to 3,520,000 shares of common stock that 10x fund, l.p. may purchase from issuer within 60 days of the date hereof pursuant to a securities purchase agreement dated february 12, 2009, as amended on august 11, 2009 and february 11, 2009, between issuer and 10x fund, l.p.
f1 each share of series b-2 convertible preferred stock is convertible into four shares of issuer's common stock at a conversion price of $0.50 per share (subject to customary anti-dilution protection adjustments) at the option of (a) the holder, at any time and (b) issuer, at any time after december 8, 2010 (and upon 10 days notice) if the issuer's common stock is quoted at or above $1.50 per share for 15 consecutive trading days and an effective registration statement regarding the underlying shares of issuer's common stock is in effect (subject to certain monthly volume limits). the shares of series b-2 convertible preferred stock do not expire.