# EDGAR Filing Document

**Accession Number:** 0001411524
**File Stem:** 0000919574-23-000268
**Filing Date:** 2023-1
**Character Count:** 18838
**Document Hash:** 3ea0fc1add7259654e83e34fef684724
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000919574-23-000268.hdr.sgml**: 20230112

**ACCESSION NUMBER**: 0000919574-23-000268

**CONFORMED SUBMISSION TYPE**: 4

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221114

**FILED AS OF DATE**: 20230112

**DATE AS OF CHANGE**: 20230112

**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** MANCHESTER MANAGEMENT CO LLC
- **CENTRAL INDEX KEY:** 0001169253

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-52985
- **FILM NUMBER:** 23527022

**BUSINESS ADDRESS:**
- **STREET 1:** 3 WEST HILL PLACE
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02110
- **BUSINESS PHONE:** 6178568995

**MAIL ADDRESS:**
- **STREET 1:** 3 WEST HILL PLACE
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02110
**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** Manchester Explorer, L.P.
- **CENTRAL INDEX KEY:** 0001411524
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-52985
- **FILM NUMBER:** 23527021

**BUSINESS ADDRESS:**
- **STREET 1:** MANCHESTER MANAGEMENT COMPANY, L.L.C
- **STREET 2:** 3 WEST HILL PLACE
- **CITY:** Boston
- **STATE:** ma
- **ZIP:** 02114
- **BUSINESS PHONE:** 617-399-1740

**MAIL ADDRESS:**
- **STREET 1:** MANCHESTER MANAGEMENT COMPANY, L.L.C
- **STREET 2:** 3 WEST HILL PLACE
- **CITY:** Boston
- **STATE:** ma
- **ZIP:** 02114

**FORMER NAME:**
- **FORMER CONFORMED NAME:** Manchester Explorer LP
- **DATE OF NAME CHANGE:** 20070904
**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** MANCHESTER MANAGEMENT PR, LLC
- **CENTRAL INDEX KEY:** 0001735534
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-52985
- **FILM NUMBER:** 23527020

**BUSINESS ADDRESS:**
- **STREET 1:** 3 WEST HILL PLACE
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02114
- **BUSINESS PHONE:** 617-399-1740

**MAIL ADDRESS:**
- **STREET 1:** 3 WEST HILL PLACE
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02114
**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** BESSER JAMES E
- **CENTRAL INDEX KEY:** 0001512127

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-52985
- **FILM NUMBER:** 23527018

**MAIL ADDRESS:**
- **STREET 1:** 3 WEST HILL PLACE
- **CITY:** BOSTON
- **STATE:** MA
- **ZIP:** 02114
**REPORTING-OWNER**: 

**OWNER DATA:**
- **COMPANY CONFORMED NAME:** FRANK MORGAN C.
- **CENTRAL INDEX KEY:** 0001593072

**FILING VALUES:**
- **FORM TYPE:** 4
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-52985
- **FILM NUMBER:** 23527019

**MAIL ADDRESS:**
- **STREET 1:** 2 CALLE NAIRN
- **STREET 2:** UNIT 701
- **CITY:** SAN JUAN
- **STATE:** PR
- **ZIP:** 00907
**ISSUER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SANUWAVE Health, Inc.
- **CENTRAL INDEX KEY:** 0001417663
- **STANDARD INDUSTRIAL CLASSIFICATION:** SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841]
- **IRS NUMBER:** 201176000
- **STATE OF INCORPORATION:** NV
- **FISCAL YEAR END:** 1231

**BUSINESS ADDRESS:**
- **STREET 1:** 3360 MARTIN FARM RD
- **STREET 2:** SUITE 100
- **CITY:** SUWANEE
- **STATE:** GA
- **ZIP:** 30024
- **BUSINESS PHONE:** 770-419-7525

**MAIL ADDRESS:**
- **STREET 1:** 3360 MARTIN FARM RD
- **STREET 2:** SUITE 100
- **CITY:** SUWANEE
- **STATE:** GA
- **ZIP:** 30024

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** RUB MUSIC ENTERPRISES, INC.
- **DATE OF NAME CHANGE:** 20071106

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM 4

### STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

[ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

[ ] Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>MANCHESTER MANAGEMENT CO LLC<br><sub>(Last) (First) (Middle)</sub><br>2 CALLE CANDINA, #1701<br><sub>(Street)</sub><br>SAN JUAN, PR 00907<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2022-11-14 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [ ] 10% Owner<br>[ ] Officer (give title below) [X] Other (specify below)<br>_Director by Deputization_ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>SANUWAVE Health, Inc. [ SNWV ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>Manchester Explorer, L.P.<br><sub>(Last) (First) (Middle)</sub><br>2 CALLE CANDINA, #1701<br><sub>(Street)</sub><br>SAN JUAN, PR 00907<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2022-11-14 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [ ] 10% Owner<br>[ ] Officer (give title below) [X] Other (specify below)<br>_Director by Deputization_ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>SANUWAVE Health, Inc. [ SNWV ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>MANCHESTER MANAGEMENT PR, LLC<br><sub>(Last) (First) (Middle)</sub><br>2 CALLE CANDINA, #1701<br><sub>(Street)</sub><br>SAN JUAN, PR 00907<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2022-11-14 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [ ] 10% Owner<br>[ ] Officer (give title below) [X] Other (specify below)<br>_Director by Deputization_ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>SANUWAVE Health, Inc. [ SNWV ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>FRANK MORGAN C.<br><sub>(Last) (First) (Middle)</sub><br>2 CALLE CANDINA, #1701<br><sub>(Street)</sub><br>SAN JUAN, PR 00907<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2022-11-14 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[X] Director [ ] 10% Owner<br>[ ] Officer (give title below) [X] Other (specify below)<br>_Director by Deputization_ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>SANUWAVE Health, Inc. [ SNWV ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

---

| | | |
|:---|:---|:---|
| **1. Name and Address of Reporting Person**<sup>*</sup><br>BESSER JAMES E<br><sub>(Last) (First) (Middle)</sub><br>2 CALLE CANDINA, #1701<br><sub>(Street)</sub><br>SAN JUAN, PR 00907<br><sub>(City) (State) (Zip)</sub> | **3. Date of Earliest Transaction (Month/Day/Year)**<br>2022-11-14 | **5. Relationship of Reporting Person(s) to Issuer**<br>(Check all applicable)<br>[ ] Director [ ] 10% Owner<br>[ ] Officer (give title below) [X] Other (specify below)<br>_Director by Deputization_ |
| **2. Issuer Name and Ticker or Trading Symbol**<br>SANUWAVE Health, Inc. [ SNWV ] | **4. If Amendment, Date of Original Filed (Month/Day/Year)**<br>  | **6. Individual or Joint/Group Filing (Check Applicable Line)**<br>[ ] Form filed by One Reporting Person<br>[X] Form filed by More than One Reporting Person |

---

## Table I - Non-Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | 3. Transaction Code (V) | 3. Transaction Code (V) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 4. Securities Acquired (A) or Disposed of (D) | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
| 1. Title of Security | 2. Transaction Date | 2A. Deemed Execution Date | Code | V | Amount | (A) or (D) | Price | 5. Amount of Securities Beneficially Owned | 6. Ownership Form | 7. Nature of Indirect Beneficial Ownership |
|  |  |  |  |  |  |  |  |  |  |  |

---

## Table II - Derivative Securities

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | 4. Transaction Code (V) | 4. Transaction Code (V) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) | 6. Date Exercisable and Expiration Date | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Underlying Securities | 7. Title and Amount of Underlying Securities | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| 1. Title of Derivative Security | 2. Conversion or Exercise Price | 3. Transaction Date | 3A. Deemed Execution Date | Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | 8. Price of Derivative Security | 9. Number of Derivative Securities Beneficially Owned | 10. Ownership Form | 11. Nature of Indirect Beneficial Ownership |
| Future Advance Convertible Promissory Note | $0.04 |  |  |  |  |  |  | 2022-08-05 | <sup>(1)</sup> | Common Stock, par value $0.001 | 62500000 |  | 62500000 | I | See foonote.<sup>(2)</sup> |
| Future Advance Convertible Promissory Note | $0.04 |  |  |  |  |  |  | 2022-08-05 | <sup>(1)</sup> | Common Stock, par value $0.001 | 6250000 |  | 6250000 | D<sup>(3)</sup> |  |
| Common Stock Purchase Warrant | <sup>(4)</sup> |  |  |  |  |  |  | 2022-08-05<sup>(5)</sup> | 2027-08-05 | Common Stock, par value $0.001 | 125000000 |  | 125000000 | I | See foonote.<sup>(2)</sup> |
| Common Stock Purchase Warrant | <sup>(4)</sup> |  |  |  |  |  |  | 2022-08-05<sup>(5)</sup> | 2027-08-05 | Common Stock, par value $0.001 | 12500000 |  | 12500000 | D<sup>(3)</sup> |  |
| Future Advance Convertible Promissory Note | $0.04 | 2022-11-14 |  | J |  |  |  | 2022-11-15<sup>(7)</sup> | <sup>(8)</sup> | Common Stock, par value $0.001 | <sup>(6)</sup> | <sup>(6)</sup> |  | I<sup>(9)</sup> | See foonote.<sup>(9)</sup> |
| Common Stock Purchase Warrant | <sup>(10)</sup> | 2022-11-14 |  | J |  |  | 20000000 | 2022-11-15<sup>(11)</sup> | 2027-11-15 | Common Stock, par value $0.001 | 20000000 | <sup>(12)</sup> | 20000000 | I | See foonote.<sup>(9)</sup> |

---

### Footnotes:

(1) After all principal, accrued interest and other amounts at any time owed on the note have been paid in full, the note shall automatically be deemed canceled, shall be surrendered to the Issuer for cancellation and shall not be reissued. The foregoing description of the note does not purport to be complete and is subject to and qualified in its entirety by reference to the Future Advance Convertible Promissory Note included as Exhibit 4.1 of the Issuer's 8-K filed on August 8, 2022, which is incorporated by reference.

(2) The reported securities and warrants are owned directly by Manchester Explorer, L.P. ("Explorer") and may be deemed to be indirectly beneficially owned by (i) Manchester Management Company, LLC ("Manchester Management"), the general partner of Explorer, (ii) Manchester Management PR, LLC ("Manchester PR"), the investment adviser to Manchester Management, (iii) James E. Besser, the managing member of Manchester Management and Manchester PR, and (iv) Morgan Frank, who serves as a portfolio manager and as a consultant for Explorer. The Reporting Persons disclaim beneficial ownership of the reported securities except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that the Reporting Persons are the beneficial owners of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.

(3) The reported securities and warrants are directly owned by Morgan C. Frank in his personal capacity.

(4) Per the Common Stock Purchase Warrant included as Exhibit 4.2 of the Issuer's 8-K filed on August 8, 2022 ("Exhibit 4.2"), it is currently intended there will be two warrants issued, one with a strike price of $0.067 and the other with a strike price of $0.04.

(5) The exercise of the reported warrants are subject to the limitations and conditions on exercise set forth in the Common Stock Purchase Warrant, including the limitation that such warrants are not currently exercisable into shares until such time as the Issuer's authorized and unissued shares are at a number sufficient to permit the exercise of all warrants and the conversion or exercise of all other share equivalents. The foregoing description of the warrant does not purport to be complete and is subject to and qualified in its entirety by reference to Exhibit 4.2.

(6) Per the Future Advance Convertible Promissory Note included as Exhibit 4.3 of the Issuer's S-1/A filed on December 22, 2022 ("Exhibit 4.3"), the Reporting Persons are entitled to a number of shares of Common Stock by dividing (x) the sum of (A) the portion of the principal to be converted, redeemed or otherwise with respect to which this determination is being made and (B) accrued and unpaid interest with respect to such principal, and (y) $0.04. The foregoing description of the note does not purport to be complete and is subject to and qualified in its entirety by reference to Exhibit 4.3, which is incorporated by reference.

(7) The exercise of the Future Advance Convertible Promissory Note is subject to the limitations and conditions on exercise set forth in Exhibit 4.3, including the limitation that such notes are not currently exercisable into shares until such time as the Issuer's authorized and unissued shares are at a number sufficient to permit the exercise of all warrants and the conversion or exercise of all other share equivalents. The foregoing description of the note does not purport to be complete and is subject to and qualified in its entirety by reference to Exhibit 4.3, which is incorporated by reference.

(8) After all principal, accrued interest and other amounts at any time owed on the note have been paid in full, the note shall automatically be deemed canceled, shall be surrendered to the Issuer for cancellation and shall not be reissued. The foregoing description of the note does not purport to be complete and is subject to and qualified in its entirety by reference to Exhibit 4.3, which is incorporated by reference.

(9) The reported securities are owned directly by JEB Partners, L.P. ("JEB Partners") and may be deemed to be indirectly beneficially owned by (i) Manchester Management, the general partner of JEB Partners, (ii) Manchester PR, the investment adviser to Manchester Management, and (iii) James E. Besser, the managing member of Manchester Management and Manchester PR. The Reporting Persons disclaim beneficial ownership of the reported securities except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that the Reporting Persons are the beneficial owners of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.

(10) Per the Common Stock Purchase Warrant included as Exhibit 4.4 of the Issuer's S-1/A filed on December 22, 2022 ("Exhibit 4.4"), it is currently intended there will be two warrants issued, one with a strike price of $0.067 and the other with a strike price of $0.04.

(11) The exercise of the reported warrants are subject to the limitations and conditions on exercise set forth in the Common Stock Purchase Warrant, including the limitation that such warrants are not currently exercisable into shares until such time as the Issuer's authorized and unissued shares are at a number sufficient to permit the exercise of all warrants and the conversion or exercise of all other share equivalents. The foregoing description of the warrant does not purport to be complete and is subject to and qualified in its entirety by reference to Exhibit 4.4, which is incorporated by reference.

(12) The warrant may be exercised into shares by the Reporting Persons pursuant to a formula contained in the Common Stock Purchase Warrant. The foregoing description of the warrant does not purport to be complete and is subject to and qualified in its entirety by reference to Exhibit 4.4, which is incorporated by reference.

**Signature:** Manchester Management Company, LLC, By: /s/ James E. Besser, Managing Member  
**Date:** 2023-01-12

**Signature:** Manchester Explorer, L.P., By: /s/ James E. Besser, Managing Member of the General Partner  
**Date:** 2023-01-12

**Signature:** Manchester Management PR, LLC, By: /s/ James E. Besser, Managing Member  
**Date:** 2023-01-12

**Signature:** Morgan C. Frank, By: /s/ Morgan C. Frank  
**Date:** 2023-01-12

**Signature:** James E. Besser, By: /s/ James E. Besser  
**Date:** 2023-01-12

### Remarks:

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

**Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.**