Oskar Lewnowski - Jun 30, 2022 Form 4 Insider Report for Ivanhoe Electric Inc. (IE)

Role: Director
Signature: /s/ Oskar Lewnowski
Stock symbol: IE
Transactions as of: Jun 30, 2022
Transactions value $: -$16,427,945
Form type: 4
Date filed: 7/1/2022, 04:13 PM
Previous filing: Jun 27, 2022
Next filing: Aug 24, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	IE	Common Stock	Conversion of derivative security		+1.08M	+27.53%		5.02M	Jun 30, 2022	By Orion Mine Finance Fund III LP	F1, F2
transaction	IE	Common Stock	Conversion of derivative security		+590K	+11.76%		5.61M	Jun 30, 2022	By Orion Mine Finance Fund III LP	F1, F3

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	IE	Series 1 Convertible Notes	Conversion of derivative security	-$10.2M				0	Jun 30, 2022	Common Stock	1.08M	$9.39	By Orion Mine Finance Fund III LP	F1
transaction	IE	Series 2 Convertible Notes	Conversion of derivative security	-$6.25M				0	Jun 30, 2022	Common Stock	590K	$10.58	By Orion Mine Finance Fund III LP	F1

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

Explanation of Responses:

Id	Content
F1	The reporting person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all of the reported shares for purposes of Section 16 or for any other purpose.
F2	Upon the consummation of an initial public offering that resulted in gross proceeds of at least $25 million (a "Qualifying IPO"), the Series 1 Convertible Notes, including any accrued but unpaid interest thereon, automatically converted into shares of common stock at a price per share equal to the lesser of (A) 80% of the gross price per share at which common stock is sold in the Qualifying IPO, and (B) $9.39 per share of common stock, subject in each case to adjustment for any stock split, stock dividend, reverse stock split, or similar transactions.
F3	Upon the consummation of a Qualifying IPO, the Series 2 Convertible Notes, including any accrued but unpaid interest thereon, automatically converted into shares of common stock at a price per share equal to 90% of the gross price per share at which common stock was sold in the offering.