Nantahala Capital Management, LLC - Mar 19, 2024 Form 4 Insider Report for TALPHERA, INC. (TLPH)

Role
Other*, 10%+ Owner
Signature
/s/ Taki Vasilakis, Chief Compliance Officer of Nantahala Capital Management, LLC
Stock symbol
TLPH
Transactions as of
Mar 19, 2024
Transactions value $
$0
Form type
4
Date filed
3/21/2024, 04:30 PM
Previous filing
Mar 15, 2024
Next filing
Jun 18, 2024

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 TLPH 2024 Pre-Funded Warrants Other +325K +5.26% 6.49M Mar 19, 2024 Common Stock 325K $0.00 See Footnote F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On March 19, 2024, Nantahala Capital Management, LLC ("NCM") entered into a sub-advisory agreement with a client regarding its managed account, pursuant to which NCM acquired voting and investment power over certain securities owned by the client, including Warrants (as defined below) to purchase 324,675 shares of Common Stock at an exercise price of $0.001 per share, subject to a contractual prohibition on any exercise if the Reporting Persons (as defined below) or certain related persons would then beneficially own more than 9.99% of the number of shares of Common Stock outstanding.
F2 These Warrants (as defined below) are exercisable indefinitely.
F3 NCM, an investment adviser to certain private funds and managed accounts (the "NCM Investors") that hold shares of Common Stock and certain derivative securities related thereto (the "Derivatives"), including the warrants to purchase Common Stock disclosed in this Form 4 ("Warrants"), may be deemed a beneficial owner of such Warrants. Each of Mr. Wilmot B. Harkey and Mr. Daniel Mack may be deemed a beneficial owner of the Warrants beneficially owned by NCM. Each of NCM, Mr. Harkey and Mr. Mack (the "Reporting Persons") disclaims beneficial ownership of the Warrants disclosed herein except to the extent of their respective pecuniary interests therein.

Remarks:

Mr. Abhinav Jain, an NCM Analyst, is a member of the Issuer's board of directors. On the basis of the relationship among Mr. Jain and each of the Reporting Persons, the Reporting Persons may be deemed directors by deputization with respect to the Issuer for purposes of Section 16 of the Securities Exchange Act of 1934.