| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Underlying Class | Amount | Exercise Price | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| transaction | BIOR | 11.00%/13. 00% Convertible Senior Secured Notes due 2028 | Disposed to Issuer | -$18.4M | $0 | Aug 12, 2024 | Common Stock | 11.8M | $1.56 | See footnotes | F1, F2, F3, F11, F12, F13 | |||
| transaction | BIOR | 11.00%/13. 00% Convertible Senior Secured Notes due 2028 | Award | $18.4M | $18.4M | Aug 12, 2024 | Common Stock | 24.3M | $0.76 | See footnotes | F1, F2, F3, F11, F12, F13 | |||
| transaction | BIOR | Warrant | Disposed to Issuer | -324K | -100% | 0 | Aug 12, 2024 | Common Stock | 324K | $8.22 | See footnotes | F4, F5, F6, F11, F12, F13, F14 | ||
| transaction | BIOR | Warrant | Award | +324K | 324K | Aug 12, 2024 | Common Stock | 324K | $0.60 | See footnotes | F4, F5, F6, F11, F12, F13 | |||
| transaction | BIOR | Warrant | Disposed to Issuer | -500K | -100% | 0 | Aug 12, 2024 | Common Stock | 500K | $8.22 | See footnotes | F4, F5, F7, F11, F12, F13, F14 | ||
| transaction | BIOR | Warrant | Award | +500K | 500K | Aug 12, 2024 | Common Stock | 500K | $0.60 | See footnotes | F4, F5, F7, F11, F12, F13 | |||
| transaction | BIOR | Warrant | Disposed to Issuer | -2.09M | -100% | 0 | Aug 12, 2024 | Common Stock | 2.09M | $5.00 | See footnotes | F4, F5, F8, F11, F12, F13 | ||
| transaction | BIOR | Warrant | Award | +2.09M | 2.09M | Aug 12, 2024 | Common Stock | 2.09M | $0.60 | See footnotes | F4, F5, F8, F11, F12, F13 | |||
| transaction | BIOR | Warrant | Disposed to Issuer | -5.04M | -100% | 0 | Aug 12, 2024 | Common Stock | 5.04M | $5.50 | See footnotes | F4, F5, F9, F11, F12, F13 | ||
| transaction | BIOR | Warrant | Award | +5.04M | 5.04M | Aug 12, 2024 | Common Stock | 5.04M | $0.60 | See footnotes | F4, F5, F9, F11, F12, F13 | |||
| transaction | BIOR | Warrant | Disposed to Issuer | -457K | -100% | 0 | Aug 12, 2024 | Common Stock | 457K | $0.63 | See footnotes | F4, F5, F10, F11, F12, F13 | ||
| transaction | BIOR | Warrant | Award | +457K | 457K | Aug 12, 2024 | Common Stock | 457K | $0.60 | See footnotes | F4, F5, F10, F11, F12, F13 |
| Id | Content |
|---|---|
| F1 | On August 12, 2024, Biora Therapeutics, Inc. (the "Company"), Athyrium Opportunities III Acquisition LP ("Acquisition LP"), Athyrium Opportunities III Co-Invest 1 LP ("Co-Invest LP") and the other noteholders party thereto entered into a Convertible Notes Exchange Agreement (the "Exchange Agreement") whereby the Company and the holders of all outstanding 11.00% / 13.00% Convertible Senior Secured Notes due 2028 (the "11.00% / 13.00% Convertible Notes") agreed to amend and restate the terms of the indenture governing the 11.00% / 13.00% Convertible Notes to, among other changes, (i) reset the conversion price of the 11.00% / 13.00% Convertible Notes to 1,321.571348 shares per $1000 aggregate principal amount of 11.00% / 13.00% Convertible Notes converted and (ii) create two different tranches of 11.00% / 13.00% Convertible Notes with one tranche (the "Payment Priority Notes") having cash payment priority over the other tranche (the "Payment Junior Notes"). |
| F2 | (Continued from footnote 1) Pursuant to the Exchange Agreement, Acquisition LP agreed to exchange $666,842 aggregate principal amount of 11.00% / 13.00% Convertible Notes for an equal aggregate principal amount of 11.00% / 13.00% Convertible Notes constituting Payment Priority Notes and Co-Invest LP agreed to exchange $2,093,144 aggregate principal amount of 11.00% / 13.00% Convertible Notes for an equal aggregate principal amount of 11.00% / 13.00% Convertible Notes constituting Payment Priority Notes. The remaining $3,778,858 and $11,861,062 aggregate principal amount of 11.00% / 13.00% Convertible Notes held by Acquisition LP and Co-Invest LP, respectively, will constitute Payment Junior Notes under the amended and restated indenture. The transactions contemplated by the Exchange Agreement are scheduled to close on or about August 15, 2024 (the "closing"). |
| F3 | (Continued from footnote 2) The 11.00% / 13.00% Convertible Notes are subject to certain limitations on conversion, including a limitation on the ability of the holder to convert if the holder's beneficial ownership of the Company's common stock, par value $0.01 per share ("common stock") (together with its affiliates and certain attribution parties) would, in the case of Acquisition LP and Co-Invest LP, exceed 49.9% of the outstanding common stock. |
| F4 | Pursuant to the Exchange Agreement, at the closing, this warrant will be amended to, among other changes, (i) reduce the strike price to $0.60, (ii) limit the exercise of this warrant (together with certain of the 11.00% / 13.00% Convertible Notes, as specified in the amended and restated indenture, and all other warrants amended as part of the Exchange Agreement, including those held by third parties) to 20% of the outstanding common stock as of March 8, 2024 unless and until stockholder approval is obtained under applicable stock exchange rules (the "Applicable Stockholder Approval") (iii) provide that 20% of this warrant will be redeemable under certain conditions following the receipt of Applicable Stockholder Approval and (iv) extend the exercise period of this warrant by the number of days between the amendment of this warrant and the receipt of the Applicable Stockholder Approval. |
| F5 | (Continued from footnote 4) This warrant is subject to certain limitations on exercise, including a limitation on the ability of the holder to convert if the holder's beneficial ownership of common stock, would exceed a set percentage of the outstanding common stock. |
| F6 | This warrant is held directly by Athyrium Opportunities III Acquisition 2 LP ("Acquisition 2 LP"). |
| F7 | Warrants to purchase 120,833 and 379,416 shares of common stock are held directly by Acquisition LP and Co-Invest 1 LP, respectively. |
| F8 | Warrants to purchase 503,872 and 1,581,500 shares of common stock are held directly by Acquisition 2 LP and Co-Invest 1 LP, respectively. |
| F9 | Warrants to purchase 1,217,109 and 3,822,127 shares of common stock are held directly by Acquisition 2 LP and Co-Invest 1 LP, respectively. |
| F10 | Warrants to purchase 110,479 and 346,771 shares of common stock are held directly by Acquisition 2 LP and Co-Invest 1 LP, respectively. |
| F11 | Athyrium Opportunities Associates III GP LLC is the general partner of Athyrium Opportunities Associates III LP, which is the general partner of Athyrium Opportunities III Acquisition LP and Athyrium Opportunities III Acquisition 2 LP. Athyrium Funds GP Holdings, LLC is the managing member of Athyrium Opportunities Associates III GP LLC. Jeffrey Ferrell is the managing member of Athyrium Funds GP Holdings, LLC and the President of Athyrium Opportunities Associates III GP LLC. |
| F12 | Athyrium Opportunities Associates Co-Invest LLC is the general partner of Athyrium Opportunities III Co-Invest 1 LP. Athyrium Funds GP Holdings, LLC is the managing member of Athyrium Opportunities Associates Co-Invest LLC. Jeffrey A. Ferrell is the President of Athyrium Opportunities Associates Co-Invest LLC and the managing member of Athyrium Funds GP Holdings, LLC. |
| F13 | Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein, except to the extent of such Reporting Person's pecuniary interest therein. |
| F14 | Amounts listed reflect the impact of the 25:1 reverse stock split effected by the Company on January 3, 2023. |