General Atlantic, L.P. - Jan 11, 2022 Form 4 Insider Report for CinCor Pharma, Inc. (CINC)

Role
10%+ Owner
Signature
/s/ Michael Gosk
Stock symbol
CINC
Transactions as of
Jan 11, 2022
Transactions value $
$27,200,000
Form type
4
Date filed
1/13/2022, 08:32 PM
Previous filing
Jan 6, 2022
Next filing
May 19, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CINC Common Stock, par value $0.00001 per share ("Common Stock") Conversion of derivative security +2.43M 2.43M Jan 11, 2022 See footnote F1, F2, F3, F4
transaction CINC Common Stock Purchase $27.2M +1.7M +70.06% $16.00 4.13M Jan 11, 2022 See footnote F2, F3, F4, F5

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 CINC Series B Preferred Stock Conversion of derivative security -8.25M -100% 0 Jan 11, 2022 Common Stock 2.43M See footnote F1, F2, F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents the automatic conversion of Series B Preferred Stock into shares of Common Stock of CinCor Pharma, Inc. (" the Issuer"), on a 3.4:1 basis immediately prior to the closing of the Issuer's initial public offering (the "IPO") which closed on January 11, 2022.
F2 Reflects securities held directly by General Atlantic (CIN), L.P. ("GA CIN"), a Delaware limited partnership. The limited partners of GA CIN are the following investment funds (the "GA Funds"): General Atlantic Partners 100, L.P., a Delaware limited partnership ("GAP 100"), General Atlantic Partners (Bermuda) EU, L.P., a Bermuda limited partnership ("GAP Bermuda EU"), General Atlantic Partners (Lux) SCSp, a Luxembourg special limited partnership ("GAP Lux"), GAP Coinvestments CDA, L.P., a Delaware limited partnership ("GAPCO CDA"), GAP Coinvestments III, LLC, a Delaware limited liability company ("GAPCO III"), GAP Coinvestments IV, LLC, a Delaware limited liability company ("GAPCO IV"), and GAP Coinvestments V, LLC, a Delaware limited liability company ("GAPCO V").
F3 The general partner of GA (CIN) is General Atlantic (SPV) GP, LLC, a Delaware limited liability company ("GA SPV"). The general partner of GAP Lux is General Atlantic GenPar, (Lux) SCSp, a Luxembourg special limited partnership ("GA GenPar Lux") and the general partner of GA GenPar Lux is General Atlantic (Lux) S.a.r.l., a Luxembourg company ("GA Lux"). The general partner of GAP Bermuda EU and the sole shareholder of GA Lux is General Atlantic GenPar (Bermuda), L.P., a Bermuda limited partnership ("GenPar Bermuda"). GAP (Bermuda) L.P. ("GAP (Bermuda) LP") is the general partner of GenPar Bermuda.
F4 The general partner of GAP 100 is General Atlantic GenPar, L.P., a Delaware limited partnership ("GA GenPar"). General Atlantic, L.P., a Delaware limited partnership ("GA LP") is the general partner of GA GenPar and GAPCO CDA, the managing member of GAPCO III, GAPCO IV and GAPCO V, and the sole member of GA SPV. There are nine members of the management committee of GA LP (the "GA Management Committee"). The members of the GA Management Committee are also the members of the management committee of GAP (Bermuda) LP. Each of the members of the GA Management Committee disclaims ownership of the shares except to the extent he has a pecuniary interest therein.
F5 The shares of Common Stock were purchased by GA CIN in the Issuer's IPO which closed on January 11, 2022, at a price of $16.00.

Remarks:

GA CIN, the GA Funds, GA SPV, GA GenPar Lux, GA Lux, GenPar Bermuda, GAP (Bermuda) LP, GA GenPar, and GA LP may be deemed to be members of a "group" for the purposes of the Securities Exchange Act of 1934. Each reporting person disclaims beneficial ownership of any securities deemed to be owned by the group that are not directly owned by the reporting person. This report shall not be deemed an admission that the reporting persons are a member of a group or the beneficial owner of any securities not directly owned by the reporting person. // Form 1 of 2.