HBM Healthcare Investments (Cayman) Ltd. - Nov 9, 2021 Form 4 Insider Report for IO Biotech, Inc. (IOBT)

Role: 10%+ Owner
Signature: /s/ Jean-Marc LeSieur, Managing Director
Stock symbol: IOBT
Transactions as of: Nov 9, 2021
Transactions value $: $4,550,000
Form type: 4
Date filed: 11/12/2021, 03:16 PM
Previous filing: Nov 4, 2021
Next filing: Feb 9, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	IOBT	Common Stock	Conversion of derivative security		+2.37M			2.37M	Nov 9, 2021	Direct	F1
transaction	IOBT	Common Stock	Purchase	$4.55M	+325K	+13.74%	$14.00^*	2.69M	Nov 9, 2021	Direct

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	IOBT	Series C Preferred Stock	Conversion of derivative security	$0	-188K	-100%	$0.00^*	0	Nov 9, 2021	Common Stock	2.37M		Direct	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

HBM Healthcare Investments (Cayman) Ltd. is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id	Content
F1	Upon the closing of the Issuer's initial public offering, each share of Series C Preferred Stock beneficially owned by the reporting person automatically converted, for no additional consideration, into the number of shares of Common Stock reported in Column 7 of Table II. These shares of Series C Preferred Stock had no expiration date.