Maha Katabi - Jun 29, 2021 Form 3 Insider Report for Aerovate Therapeutics, Inc. (AVTE)

Role
Director, 10%+ Owner
Signature
/s/ George A. Eldridge, Attorney-in-Fact
Stock symbol
AVTE
Transactions as of
Jun 29, 2021
Transactions value $
$0
Form type
3
Date filed
6/29/2021, 07:42 PM
Previous filing
May 18, 2021
Next filing
Jul 6, 2021

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
holding AVTE Series A Preferred Stock Jun 29, 2021 Common Stock 3.4M By Sofinnova Venture Partners X, L.P. F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each share of Series A Preferred Stock is convertible into shares of Common Stock of the Issuer on a one-for-3.1060103 basis. Upon the closing of the Issuer's initial public offering, all shares of Preferred Stock will convert into the number of shares of Common Stock of the Issuer shown in column 3. The Preferred Stock has no expiration date.
F2 The shares are held directly by Sofinnova Venture Partners X, L.P. ("SVP X"). Sofinnova Management X, L.L.C. ("SM X") is the general partner of SVP X and may be deemed to have sole voting, investment and dispositive power with respect to the shares held by SVP X. James I. Healy and Maha Katabi are the managing members of SM X and may be deemed to have shared voting, investment and dispositive power with respect to the shares held by SVP X. The Reporting Person disclaims beneficial ownership of such securities, except to the extent of his or her proportionate pecuniary interest therein.

Remarks:

Exhibit 24 - Power of Attorney