Gerard Michel - Mar 29, 2023 Form 4 Insider Report for DELCATH SYSTEMS, INC. (DCTH)

Role
Chief Executive Officer, Director
Signature
/s/ Gerard Michel
Stock symbol
DCTH
Transactions as of
Mar 29, 2023
Transactions value $
$101,059
Form type
4
Date filed
3/30/2023, 09:00 AM
Previous filing
Jan 26, 2024
Next filing
Jun 21, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction DCTH Common Stock Purchase $95.1K +19.6K +11.06% $4.84 197K Mar 29, 2023 Direct F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction DCTH Tranche A Warrants to Purchase Common Stock Purchase $3.89K +31.1K $0.13 31.1K Mar 29, 2023 Common Stock 31.1K $4.50 Direct F1, F2, F3
transaction DCTH Tranche B Warrants to Purchase Common Stock Purchase $2.08K +16.7K $0.13 16.7K Mar 29, 2023 Common Stock 16.7K $6.00 Direct F1, F2, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The common stock and Tranche A and Tranche B Warrants were acquired in the issuer's private placement of common stock and warrants, issued as part of a unit. The per unit purchase price was $5.09, including a purchase price of $4.84 per share of common stock and $0.125 for each of the Tranche A and Tranche B Warrants. Each unit consisted of one share of common stock and an accompanying common stock warrant valued at 140% of the aggregate purchase price (the Tranche A Warrant) and an accompanying common stock warrant valued at 100% of the aggregate purchase price (the Tranche B Warrant).
F2 The Tranche A Warrants and Tranche B Warrants are immediately exercisable.
F3 The Tranche A Warrants expire the earlier of (i) twenty-one (21) days following the date of the Issuer's public announcement of its receipt of written approval from the U.S. Food and Drug Administration of its New Drug Application for HEPZATO (the "FDA Approval") and (ii) March 31, 2026.
F4 The Tranche B Warrants expire the earlier of (i) twenty-one (21) days following the date of the Issuer's public announcement of record at least $10,000,000 in quarterly U.S. revenue from the commercialization of HEPZATO and (ii) March 31, 2026, provided, however, if the FDA Approval occurs on or before February 15, 2024 and the Tranche A Warrants have not been exercised in full on or before March 7, 2024, then the Tranche B Warrants shall automatically expire on March 8, 2024.