Document:

Exhibit 4.7

 

THIS WARRANT AND THE SHARES OF CAPITAL STOCK ISSUED UPON ANY EXERCISE HEREOF HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OK 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY APPLICABLE STATE SECURITIES LAWS AND MAY NOT BE SOLD OR OTHERWISE TRANSFERRED TO ANY PERSON, INCLUDING A PLEDGEE, UNLESS (1) EITHER (A) A REGISTRATION STATEMENT WITH RESPECT THERETO SHALL BE EFFECTIVE UNDER THE SECURITIES ACT, OR (B) AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT IS AVAILABLE, AND (2) THERE SHALL HAVE BEEN COMPLIANCE WITH ALL APPLICABLE STATE SECURITIES OR “BLUE SKY” LAWS.

 

Void after 5:00 p.m. New York Time on the Expiration Date (as defined below)
 Warrant to Purchase Shares of Common Stock

 

Warrant No.               

 

WARRANT TO PURCHASE COMMON STOCK

 

OF

 

TETRALOGIC PHARMACEUTICALS CORPORATION

 

This is to Certify that, FOR VALUE RECEIVED,                         , or its permitted assigns (“Holder”), is entitled to purchase, subject to the provisions of this Warrant from TetraLogic Pharmaceuticals Corporation, a Delaware corporation (the “Company”),                 fully paid, validly issued and nonassessable shares of Common Stock, par value $0.0001 of the Company (“Common Stock”) at an exercise price of $0.05 per share, exercisable at any time or from time to time during the period from March 11, 2010 to such date that is the later of (a) five years from the date of the consummation of the Company’s first firm-commitment underwritten offering of shares of its common stock in which (1) the net proceeds to the Company for such shares shall be at least $40,000,000 (after deducting underwriting commissions and offering expenses), and (2) the price paid by the public shall be at least $2.00 per share (appropriately and proportionately adjusted for stock dividends, stock splits and other subdivisions and combinations of, and recapitalizations and like occurrences with respect to, the Common Stock) (a “Qualified Public Offering”), or (b) March 11, 2020 (the later of (a) and (b) is referred to herein as the “Expiration Date”), but not later than 5:00 p.m. New York City Time on  the Expiration Date. The number of shares of Common Stock to be received upon the exercise of this Warrant and the price to be paid for each share of Common Stock may be adjusted from time to time as hereinafter set forth. The shares of Common Stock deliverable upon such exercise, and as adjusted from time to time, are hereinafter referred to as “Warrant Shares” and the exercise price for each Warrant Share, as in effect at any time and as adjusted from time to time is hereinafter referred to as the “Exercise Price.” Unless otherwise defined in this Warrant, capitalized terms used in this Warrant shall have the respective meanings ascribed to such terms in the certain Amended and Restated Convertible Note and Warrant Purchase Agreement, dated as of March 11, 2010, among the Company, the Holder and the other signatures thereto (the “Purchase Agreement”).

 

(a)           EXERCISE OF WARRANT

 

(1)           This Warrant may be exercised in whole or in part at any time or from time to time on or after March 11, 2010 until the Expiration Date (the “Exercise Period”‘), provided, however, that (i) if such day is a day on which banking institutions in the State of Delaware are authorized by law to close, then on the next succeeding day which shall not be such a day, (ii) in the event of any merger, consolidation or sale of substantially all the assets of the Company as an entirety, resulting in any

 

 

distribution to the Company’s stockholders, prior to the Expiration Date,  the Holder shall have the right to exercise this Warrant commencing at such time through the Expiration Date into the kind and amount of shares of stock and other securities and property (including cash) receivable by a holder of the number of shares of Warrant Shares into which this Warrant might have been exercisable immediately prior thereto at the applicable Exercise Price in effect immediately prior to any such merger, consolidation or sale and (iii) following the closing of a Qualified Public Offering, the Holder shall have the right to exercise this Warrant commencing at such time through the Expiration Date into the number of shares of common stock of the Company receivable by a holder of the number of shares of Warrant Shares into which this Warrant might have been exercisable immediately prior thereto at the applicable Exercise Price in effect immediately prior to the closing of a Qualified Public Offering. This Warrant may be exercised by presentation and surrender hereof to the Company at its principal office, or at the office of its stock transfer agent, if any, with the Purchase Form annexed hereto as Exhibit A, duly executed and accompanied by payment of the Exercise Price for the number of Warrant Shares specified in such form. As soon as practicable after each such exercise of the warrants, but not later than ten (10) business days from the date of such exercise, the Company shall issue and deliver to the Holder a certificate or certificate for the Warrant Shares issuable upon such exercise, registered in the name of the  Holder or its designee. If this Warrant should be exercised in part only, the Company shall, upon surrender of this Warrant for cancellation, execute and deliver a new Warrant evidencing the rights of the Holder thereof to purchase the balance of the Warrant Shares purchasable thereunder. Upon receipt by the Company of this Warrant at its office, or by the stock transfer agent of the Company at its office, in proper form for exercise, the Holder shall be deemed to be the holder of record of the shares of Warrant Shares issuable upon such exercise, notwithstanding that the stock transfer books of the Company shall then be closed or that certificates representing such shares of Warrant Shares shall not then be physically delivered to the Holder.

 

(2)            At any time during the Exercise Period, the Holder may, at its option, exchange this Warrant, in whole or in part (a “Warrant Exchange”), into the number of Warrant Shares determined in accordance with this Section (a)(2), by surrendering this Warrant at the principal office of the Company or at the office of its stock transfer agent, accompanied by a notice stating such Holder’s intent to effect such exchange, the number of Warrant Shares to be exchanged and the date on which the Holder requests that such Warrant Exchange occur (the “Notice of Exchange”). The Warrant Exchange shall take place on the date specified in the Notice of Exchange or, if later, the date the Notice of Exchange is received by the Company (the “Exchange Date”). Certificates for the shares issuable upon such Warrant Exchange and, if applicable, a new warrant of like tenor evidencing the balance of the shares remaining subject to this Warrant, shall be issued as of the Exchange Date and delivered to the Holder within ten (10) business days following the Exchange Date. In connection with any Warrant Exchange, this Warrant shall represent the right to subscribe for and acquire the number of Warrant Shares (rounded to the next smallest whole number of Warrant Shares, together with any cash payment required pursuant to Section (c) below) equal to (i) the number of Warrant Shares specified by the Holder in its Notice of Exchange (the “Total Number”) less (ii) the number of Warrant Shares equal to the quotient obtained by dividing (A) the product of the Total Number and the existing Exercise Price by (B) the current market value of a share of Common Stock. Current market value shall have the meaning set forth in Section (c) below, except that for purposes hereof, the date of exercise, as used in such Section (c), shall mean the Exchange Date. In the event of any Warrant Exchange, the Holder shall be deemed to have exercised this Warrant for a number of Warrant Shares equal to the Total Number.

 

(b)           RESERVATION OF SHARES. The Issuer shall, to provide for the exercise of Warrants, authorize, and reserve and keep available, sufficient shares, of Common Stock for issuance upon exercise of the Warrants. Such Common Stock shall, when issued or delivered in accordance with the terms of the Warrants, be duly and validly issued and fully paid and non-assessable. The Issuer shall prepare and file with the Secretary of the State of the State of Delaware all amendments to the Restated Certificate of

 

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Incorporation that are necessary to effectuate any of the Issuer’s covenants set forth in Section 5.1 of the Purchase Agreement, which amendments shall in each case be in form and substance satisfactory to the Required Holders.

 

(c)           FRACTIONAL SHARES. No fractional shares or script representing fractional shares shall be issued upon the exercise of this Warrant. With respect to any fraction of a share called for upon any exercise hereof, the Company shall pay to the Holder an amount in cash equal to such fraction multiplied by the current market value of a share, determined as follows:

 

(1)          If the date for such determination is the date on which the Company’s common stock is first sold to the public by the Company in a firm commitment public offering under the Securities Act of 1933, as amended, then the initial public offering price (before deducting commissions, discounts or expenses) at which the common stock is sold in such offering; or

 

(2)          If the Common Stock is listed on a national securities exchange or admitted to unlisted trading privileges on such exchange or listed for trading on the Nasdaq National Market, the current market value shall be the last reported sale price of the Common Stock on such exchange or market on the last business day prior to the date of exercise of this Warrant or if no such sale is made on such day, the average closing bid and asked prices for such day on such exchange or market; or

 

(3)          If the Common Stock is not so listed or admitted to unlisted trading privileges, but is traded on the Nasdaq SmallCap Market or the OTC Bulletin Board, the current market value shall be the last reported sale price for such day on such market and if the Common Stock is not so traded, the current market value shall be the mean of the last reported bid and asked prices reported on the last business day prior to the date of the exercise of this Warrant; or

 

(4)          If the Common Stock is not so listed or admitted to unlisted trading privileges or if the bid and asked prices are not so reported, the current market value shall be an amount (not less than book value thereof, as of the end of the most recent fiscal year of the Company ending prior to the date of the exercise of the Warrant) as is determined in such reasonable manner as may be prescribed by the Board of Directors of the Company.

 

(d)           EXCHANGE, TRANSFER, ASSIGNMENT OR LOSS OF WARRANT. This Warrant is exchangeable, without expense, at the option of the Holder, upon presentation and surrender hereof to the Company or at the office of its stock transfer agent, if any, for other warrants of different denominations entitling the holder thereof to purchase in the aggregate the same number of shares of Common Stock purchasable hereunder. Upon surrender of this Warrant to the Company at its principal office or at the office of its stock transfer agent, if any, with the Assignment Form annexed hereto as Exhibit B, duly executed and funds sufficient to pay any transfer tax, and, if requested by the Company, an opinion of counsel reasonably acceptable to the Company that any such assignment may be made without registration under the Securities Act of 1933, as amended, the Company shall, without charge, execute and deliver a new Warrant the name of the assignee or assignees named in such instrument of assignment and this Warrant shall promptly be canceled. This Warrant may be divided or combined with other warrants which carry the same rights upon presentation hereof at the principal office of the Company or at the office of it stock transfer agent, if any, together with a written notice specifying the names and denominations in which new Warrants are to be issued and signed by the Holder hereof. The

 

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term “Warrant” as used herein includes any Warrants into which this Warrant may be divided or exchanged. Upon receipt by the Company of evidence reasonably satisfactory to it of the loss, theft, destruction or mutilation of this Warrants, and (in the case of loss, theft or destruction) of reasonably satisfactory indemnification, and upon surrender and cancellation of this Warrant, if mutilated, the Company will execute and deliver a new Warrant of like tenor and date.

 

(e)           RIGHTS OF THE HOLDER. The Holder shall not, by virtue hereof, be entitled to any rights of a shareholder in the Company, either at law or equity, and the rights of the Holder are limited to those expressed in the Warrant and are not enforceable against the Company except to the extent set forth herein.

 

(f)           ANTl-DILUTION PROVISIONS. The Exercise Price in effect at any time and the number and kind of securities purchasable upon the exercise of this Warrant shall be subject to adjustment from time to time upon the happening of certain events as follows:

 

(1)           In case the Company shall (i) declare a dividend or make a distribution on its outstanding shares of Common Stock, (ii) subdivide or reclassify its outstanding shares of Common Stock into a greater number of such Common Stock, or (iii) combine or reclassify its outstanding shares of Common Stock into a smaller number of such Common Stock, and there is not a simultaneous adjustment to the conversion price thereof, then there shall be an equitable adjustment of the Exercise Price in effect at the time of the record date for such dividend or distribution or of the effective date of such subdivision, combination or reclassification so that it shall equal the price determined by multiplying the Exercise Price at that time by a fraction, the denominator of which shall be the number of shares of Common Stock outstanding after giving effect to such action, and the numerator of which shall be the number of shares of Common Stock outstanding immediately prior to such action. Such adjustment shall be made successively whenever any event listed above shall occur and shall be in addition to any subsequent adjustments to the conversion price of the Warrant Shares.

 

(2)           Whenever the Exercise Price payable upon exercise of each Warrant is adjusted pursuant to Section (f)(1) above, the number of Warrant Shares purchasable upon exercise of this Warrant at that time shall simultaneously be adjusted by multiplying the number of Warrant Shares initially issuable upon exercise of this Warrant by the Exercise Price in effect on the date hereof and dividing the product so obtained by the Exercise Price, as adjusted.

 

(3)           Whenever the Exercise Price is adjusted, as herein provided, the Company shall promptly but no later than 10 days after any request for such an adjustment by the Holder, cause a notice setting forth the adjusted Exercise Price and adjusted number of Warrant Shares issuable upon exercise of each Warrant, and, if requested, information describing the transactions giving rise to such adjustments, to be mailed to the Holders at their last addresses appearing in the Companies books records, and shall notify its transfer agent, if any, of such adjustment. The Company may retain a firm of independent certified public accountants selected by the Board of Directors (who may be the regular accounts employed by the Company) to make any computation required by this Section (f)(3), and a certificate signed by such firm shall be conclusive evidence of the correctness of such adjustment absent manifest error.

 

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(4)          In the event that at any time, as a result of an adjustment made pursuant to Section (f)(1) above, the Holder of this Warrant thereafter shall become entitled to receive any shares of the Company, other than Common Stock, thereafter the number of such shares so receivable upon exercise of this Warrant shall be subject to adjustment from time to time in a manner and on terms as nearly equivalent as practicable to the provisions with respect to the Common Stock contained in Sections (f)(1) to (f)(3), inclusive above.

 

(5)          Irrespective of any adjustments in the Exercise Price or the number or kind of shares purchasable upon exercise of this Warrant, Warrants theretofore or thereafter issued may continue to express the same price and number and kind of shares as are stated in the similar Warrants initially issuable pursuant to the Purchase Agreement.

 

(6)          Any adjustment made to the Exercise Price pursuant to this Section shall be disregarded to the extent that such adjustment is made as a result of an event described in Section (f)(1) for a class or series of securities that is not the class or series of securities with respect to which this Warrant is exercised.

 

(7)           Until the Expiration Date, if the Company shall issue any Common Stock or securities convertible into Common Stock except for the Excluded Securities (as defined in the Restated Certificate of Incorporation), prior to the complete exercise of this Warrant for a consideration less than the Exercise Price in effect immediately prior to such issuance (such consideration determined by dividing (x) the total amount, if any received or receivable by the Company as consideration for the issuance of such Common Stock or the issuance of such securities convertible into Common Stock, plus the minimum aggregate amount of additional consideration payable to the Company upon the exercise of the rights to convert securities into Common Stock, by (y) the total maximum number of shares of Common Stock issued or issuable upon the conversion of such securities into Common Stock), then, and thereafter successively upon each such issue, the Exercise Price shall be reduced to such other lower price for the then outstanding Warrant. The number of shares of Common Stock that the Holder shall thereafter, on the exercise hereof, be entitled to receive shall be adjusted to a number determined by multiplying the number of shares of Common Stock that would otherwise (but for the provisions of this Section (f)(7)) be issuable on such exercise by a fraction of which (a) the numerator is the Exercise Price that would otherwise (but for the provisions of this Section (f)(7)) be in effect, and (b) the denominator is the Exercise Price in effect on the date of such exercise.

 

(g)           OFFICER’S CERTIFICATE. Whenever the Exercise Price shall be adjusted as required by the provisions of the foregoing Section, the Company shall forthwith file in the custody of its Secretary or an Assistant Secretary at its principal office and with its stock transfer agent, if any, an officer’s certificate showing the adjusted Exercise Price determined as herein provided, setting forth in reasonable detail the facts requiring such adjustment, including a statement of the number of additional shares of Common Stock, if any, and such other facts as shall be necessary to show the reason for and the manner of computing such adjustment. Each such officer’s certificate shall be made available at all reasonable times for inspection by the holder or any holder of a Warrant executed and delivered pursuant to Section (a) and the Company shall, forthwith after each such adjustment, mail a copy by certified mail of such certificate to the Holder or any such holder.

 

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(h)           NOTICES TO WARRANT HOLDERS. So long as this Warrant shall be outstanding, (i) if the Company shall pay any dividend or make any distribution upon the Common Stock, or (ii) if the Company shall offer to the holders of Common Stock for subscription or purchase by them any share of any class or any other rights, or (iii) if any capital reorganization of the Company, reclassification of the capital stock of the Company, consolidation or merger of the Company with or into another corporation, sale, lease or transfer of all or substantially all of the property and assets of the Company to another corporation, or voluntary or involuntary dissolution, liquidation or winding up of the Company shall be effected, then in any such case, the Company shall cause to be mailed by certified mail to the Holder, at least fifteen business days prior the date specified in (x) or (y) below, as the case may be, a notice containing a brief description of the proposed action and stating the date on which (x) a record is to be taken for the purpose of such dividend, distribution or rights, or (y) such reclassification, reorganization, consolidation, merger, conveyance, lease, dissolution, liquidation or winding up is to take place and the date, if any is to be fixed, as of which the holders of Common Stock shall receive cash or other property deliverable upon such reclassification, reorganization, consolidation, merger, conveyance, dissolution, liquidation or winding up.

 

(i)            RECLASSIFICATION, REORGANIZATION OR MERGER. In case of any reclassification, capital reorganization or other change of outstanding shares of the Common Stock of the Company, or in the case of any consolidation or merger of the Company with or into another corporation (other than a merger with subsidiary in which merger the Company is the continuing corporation and which does not result in any reclassification, capital reorganization or other change of outstanding shares of Common Stock) or in the case of any sale, lease or conveyance to another corporation of all or substantially all of the assets of the Company, the Company shall, as a condition precedent to such transaction, cause effective provisions to be made so that the Holder shall have the right thereafter by exercising this Warrant at any time prior to the expiration of the Warrant, to purchase the kind and amount of shares of stock and other securities and property receivable upon such reclassification, capital reorganization and other change, consolidation, merger, sale or conveyance by a holder of the number of shares of Common Stock which might have been purchased upon exercise of this Warrant immediately prior to such reclassification, change, consolidation, merger, sale or conveyance. Any such provision shall include provision for adjustments which shall be as nearly equivalent as may be practicable to the adjustments provided for in this Warrant. The foregoing provisions of this Section (i) shall similarly apply to successive reclassifications, capital reorganizations and changes of shares of Common Stock and to successive consolidations, mergers, sales or conveyances.

 

(j)            COMPLIANCE WITH SECURITIES ACT.

 

(1)        Unregistered Securities. The Holder acknowledges that neither this Warrant, nor the Warrant Shares, have been registered under the Securities Act and agrees not to sell, pledge, distribute, offer for sale, transfer or otherwise dispose of this Warrant or any Warrant Shares in the absence of (i) an effective registration statement under the Securities Act covering this Warrant or such Warrant Shares and registration or qualification of this Warrant or such Warrant Shares under any applicable “blue sky”‘ or state securities law then in effect, or (ii) the availability of an exemption from any such registration and qualification.

 

(2)        Legend. Any certificates delivered to the Holder representing Warrant Shares shall bear the following legend or a legend in substantially similar form:

 

“THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE BEEN TAKEN FOR INVESTMENT AND THEY MAY NOT BE SOLD OR OTHERWISE TRANSFERRED BY ANY PERSON, INCLUDING A PLEDGEE, IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT FOR THE SHARES UNDER THE SECURITIES ACT 1933, AS AMENDED, UNLESS AN EXEMPTION FROM REGISTRATION IS THEN AVAILABLE”

 

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(k)           GOVERNING LAW. This Warrant will be governed by and construed in accordance with and governed by the laws of Delaware, without giving effect to the conflict of law principles thereof.

 

(l)            NOTICES. All notices, requests and other communications herein provided for shall be deemed to have been given or made when delivered to the respective addresses set forth and in the manner specified in  Section 8.2 of the Purchase Agreement unless otherwise provided for herein.

 

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TETRALOGIC   PHARMACEUTICALS CORPORATION
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
Name:
    	
John   M. Gill
    
	
 
    	
 
    	
Title:
    	
President   and Chief Executive Officer
    

 

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Exhibit A

 

PURCHASE FORM

 

To:          TetraLogic Pharmaceuticals Corporation

 

The undersigned pursuant to the provisions set forth in the attached Warrant (No.                    ), (the “Warrant”) hereby irrevocably elects to (check one):

 

o             (A)  purchase              shares of the Common Stock, par value $0.0001 per share, of TetraLogic Pharmaceuticals Corporation (the “Common Stock”), covered by such Warrant and herewith makes payment of $           , representing the full purchase price for such shares at the price per share provided for in such Warrant; or

 

o             (B)  convert            Warrant Shares (as defined below) into that number of shares of fully paid and nonassessable shares of Common Stock, determined pursuant to the provisions of Section (a)(2) of the Warrant.

 

The Common Stock for which the Warrant may be exercised or converted shall be known herein as the “Warrant Shares.” All capitalized terms used but not defined herein shall have the meanings ascribed to such terms in the Warrant.

 

The undersigned is aware [SIC] that the Warrant Shares have not been and, subject to certain registration rights which the undersigned may otherwise posses, will not be registered under the Securities Act of 1933, as amended (the ‘‘Securities Act”) or any state securities laws. The undersigned understands that reliance by the Company on exemptions under the Securities Act is predicated in part upon the truth and accuracy of the statements of the undersigned in this Purchase Form.

 

The undersigned agrees that it will in no event sell or distribute or otherwise dispose of all or any part of the Warrant Shares unless (1) there is an effective registration statement under the Securities Act and applicable state securities laws covering any such transaction involving the Warrant Shares, or (2) such transaction is exempt from registration. The undersigned consents to the placing of a legend on its certificate for the Warrant Shares stating that the sale of the Warrant Shares has not been registered and setting forth the restriction on transfer contemplated hereby and to the placing of a stop transfer order on the books of the Company and with any transfer agents against the Warrant Shares until the Warrant Shares may be legally resold or distributed without restriction.

 

 

The undersigned has considered the federal and state income tax implications of the exercise of the Warrant and the purchase and subsequent sale of the Warrant Shares.

 

	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Dated:
    	
 
    

 

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Exhibit B

 

ASSIGNMENT FORM

 

ASSIGNMENT SEPARATE FROM CERTIFICATE

 

FOR VALUE RECEIVED,                                     hereby sells, assigns and transfers unto                             (i)                        (                       ) the right to purchase           shares of Common Stock, par value $0.0001 per share, of TetraLogie Pharmaceuticals Corporation (the “Company”) pursuant to the warrant No.            (the “Warrant”) delivered herewith and standing in the name of the undersigned on the books of the Company, and does hereby irrevocably constitute and appoint the Company its attorney to transfer the said Warrant on the books of the Company with full power of substitution in the premises.

 

Dated:                         , 20

 

IN PRESENCE OF

 

 

	
 
    	
 
    	
By:
    	
 
    
	
Witness   Name:
    	
 
    	
Print   Name:
    
	
 
    	
 
    	
Title:
    

 

 

SCHEDULE OF MATERIAL DIFFERENCES 

TO EXHIBIT 4.7 

 

	
Warrant Number
    	
 
    	
Name
    	
 
    	
Number of Shares
    	
 
    
	
C-1
    	
 
    	
HealthCare Ventures VII, L.P.
    	
 
    	
157,793
    	
 
    
	
C-2
    	
 
    	
Novitas Capital III, L.P.
    	
 
    	
178,344
    	
 
    
	
C-3
    	
 
    	
Latterell Venture Partners III, L.P.
    	
 
    	
70,884
    	
 
    
	
C-4
    	
 
    	
LVP III Associates, L.P.
    	
 
    	
3,544
    	
 
    
	
C-5
    	
 
    	
LVP III Partners, L.P.
    	
 
    	
1,772
    	
 
    
	
C-6
    	
 
    	
Vertical Fund I, L.P.
    	
 
    	
44,536
    	
 
    
	
C-7
    	
 
    	
Vertical Fund II, L.P.
    	
 
    	
11,134
    	
 
    
	
C-8
    	
 
    	
Quaker BioVentures, L.P.
    	
 
    	
52,074
    	
 
    
	
C-9
    	
 
    	
Quaker BioVentures Tobacco Fund, L.P.
    	
 
    	
69,432
    	
 
    
	
C-10
    	
 
    	
BioAdvance Ventures, L.P.
    	
 
    	
36,294
    	
 
    
	
C-11
    	
 
    	
Amgen Ventures LLC
    	
 
    	
51,600
    	
 
    
	
C-12
    	
 
    	
George McLendon
    	
 
    	
6,000
    	
 
    
	
C-13
    	
 
    	
Pecora & Co., LLC
    	
 
    	
19,800Exhibit 4.8

 

THIS WARRANT AND THE UNDERLYING SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”). THEY MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT AS TO SUCH SECURITIES UNDER THE ACT OR AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED.

 

TETRALOGIC PHARMACEUTICALS CORPORATION

 

WARRANT TO PURCHASE EQUITY SECURITIES

 

	
No.           
    	
November 29, 2012
    

 

THIS CERTIFIES THAT, for value received,                                                      , or its assigns (the “Holder”), is entitled to subscribe for and purchase from TETRALOGIC PHARMACEUTICALS CORPORATION, a Delaware corporation, with its principal office at 343 Phoenixville Pike, Malvern, Pennsylvania 19355 (the “Company”)  the Exercise Shares at the Exercise Price (each subject to adjustment as provided herein). This Warrant is being issued as one of a series of warrants (the “Warrants”)  pursuant to the terms of the Note and Warrant Purchase Agreement, dated November 29, 2012 by and among the Company and the Purchasers therewith (the “Purchase Agreement”).  Capitalized terms used herein but not otherwise defined herein have the meanings given to them in the Purchase Agreement. Unless indicated otherwise, the aggregate number of Exercise Shares that Holder may purchase by exercising this warrant is equal to the quotient of (A) $              ,  divided by (B) the per share price paid by investors for the Equity Securities purchased in the financing in which the Equity Securities were issued, subject to adjustment pursuant to the terms hereof, including but not limited to adjustments pursuant to Sections 5 and 8 below.

 

1.                                      DEFINITIONS. Capitalized Terms used but not defined herein shall have the meanings set forth in the Purchase Agreement. As used herein, the following terms shall have the following respective meanings:

 

(a)                                 “Equity Securities”  shall mean (i) to the extent the Notes issued under the Purchase Agreement have converted in connection with a Qualified Financing or a Non-Qualified Financing (as defined in the Notes) prior to twelve months after the issuance date hereof (the “Trigger Date”), the equity securities issued by the Company in such financing, (ii) to the extent that the Notes issued under the Purchase Agreement have not converted in connection with a Qualified Financing or a Non-Qualified Financing (each as defined in the Notes) prior to the Trigger Date, then at the election of the Holder, either (a) the Company’s Series C Preferred Stock or (b) the series of preferred stock issued by the Company in the first preferred stock financing completed by the Company after the Trigger Date, and (iii) in the event of a Liquidation (as defined in the Company’s Certificate of Incorporation, as amended to date) prior to the determination of the Equity Securities pursuant to (i) or (ii) above, then at the

 

 

election of the Holder either (a) the Company’s Series C Preferred Stock or (b) the equity securities issued in any Non-Qualified Financing.

 

(b)                                 “Exercise Period”  shall mean the period commencing upon the earlier of (i) conversion of the Notes, and (ii) twelve (12) months following the First Tranche Closing, and ending ten (10) years later, unless sooner terminated as provided below.

 

(c)                                  “Exercise Price”  shall mean the price per share for the series of preferred stock that comprise Exercise Shares, subject to adjustment pursuant to Sections 5 and 7 below.

 

(d)                                 “Exercise Shares”  shall mean the Equity Securities issuable upon exercise of this Warrant.

 

2.                                      EXERCISE OF WARRANT. The rights represented by this Warrant may be exercised in whole or in part during the Exercise Period by delivery of the following to the Company at its address set forth above (or at such other address as it may designate by notice in writing to the Holder):

 

(a)                                 An executed Notice of Exercise in the form attached hereto;

 

(b)                                 Payment of the Exercise Price either (i) in cash or by check, or (ii) by cancellation of indebtedness; and

 

(c)                                  This Warrant.

 

Upon the exercise of the rights represented by this Warrant, a certificate or certificates for the Exercise Shares so purchased, registered in the name of the Holder or persons affiliated with the Holder, if the Holder so designates, shall be issued and delivered to the Holder within ten (10) business days after the rights represented by this Warrant shall have been so exercised. In the event that this Warrant is being exercised for less than all of the then-current number of Exercise Shares purchasable hereunder, the Company shall, concurrently with the issuance by the Company of the number of Exercise Shares for which this Warrant is then being exercised, issue a new Warrant exercisable for the remaining number of Exercise Shares purchasable hereunder.

 

The person in whose name any certificate or certificates for Exercise Shares are to be issued upon exercise of this Warrant shall be deemed to have become the holder of record of such shares on the date on which this Warrant was surrendered and payment of the Exercise Price was made, irrespective of the date of delivery of such certificate or certificates, except that, if the date of such surrender and payment is a date when the stock transfer books of the Company are closed, such person shall be deemed to have become the holder of such shares at the close of business on the next succeeding date on which the stock transfer books are open.

 

2.1                               Net Exercise. Notwithstanding any provisions herein to the contrary, if the fair market value of one Exercise Share is greater than the Exercise Price (at the date of calculation as set forth below), in lieu of exercising this Warrant by payment of cash, the Holder may elect

 

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to receive shares equal to the value (as determined below) of this Warrant (or the portion thereof being canceled) by surrender of this Warrant at the principal office of the Company together with the properly endorsed Notice of Exercise in which event the Company shall issue to the Holder a number of Exercise Shares computed using the following formula:

 

	
 
    	
 
    	
X = Y (A-B)
                A
    
	
 
    	
 
    	
 
    
	
Where X =
    	
 
    	
the   number of Exercise Shares to be issued to the Holder
    
	
 
    	
 
    	
 
    
	
Y =
    	
 
    	
the   number of Exercise Shares purchasable under the Warrant or, if only a portion   of the Warrant is being exercised, that portion of the Warrant being canceled   (at the date of such calculation)
    
	
 
    	
 
    	
 
    
	
A =
    	
 
    	
the   fair market value of one Exercise Share (at the date of such calculation)
    
	
 
    	
 
    	
 
    
	
B =
    	
 
    	
Exercise Price (as adjusted to the   date of such calculation)
    

 

For purposes of the above calculation, the fair market value of one Exercise Share shall be determined by the Company’s Board of Directors in good faith; provided, however, that in the event that this Warrant is exercised pursuant to this Section 2.1 in connection with the Company’s initial public offering of its Common Stock, the fair market value per share shall be the product of (i) the per share offering price to the public of the Company’s initial public offering, and (ii) the number of  shares of Common Stock into which each Exercise Share is convertible at the time of such exercise.

 

3.                                      COVENANTS OF THE COMPANY.

 

3.1                               Covenants as to Exercise Shares. The Company covenants and agrees that all Exercise Shares that may be issued upon the exercise of the rights represented by this Warrant will, upon issuance, be validly issued and outstanding, fully paid and nonassessable, and free from all taxes, liens and charges with respect to the issuance thereof. The Company further covenants and agrees that the Company will at all times during the Exercise Period, have authorized and reserved, free from preemptive rights, a sufficient number of shares of the series of equity securities comprising the Exercise Shares to provide for the exercise of the rights represented by this Warrant, If at any time during the Exercise Period the number of authorized but unissued shares of such series of the Company’s equity securities shall not be sufficient to permit exercise of this Warrant, the Company will take such corporate action as may, in the opinion of its counsel, be necessary to increase its authorized but unissued shares of such series of the Company’s equity securities to such number of shares as shall be sufficient for such purposes.

 

3.2                               Notices of Record Date. In the event of any taking by the Company of a record of the holders of any class of securities for the purpose of determining the holders thereof who are entitled to receive any dividend or other distribution, the Company shall mail to the

 

3

 

Holder, at least ten (10) days prior to the date specified herein, a notice specifying the date on which any such record is to be taken for the purpose of such dividend or distribution.

 

4.                                      REPRESENTATIONS OF HOLDER.

 

4.1                               Acquisition of Warrant for Personal Account. The Holder represents and warrants that it is acquiring the Warrant and the Exercise Shares solely for its account for investment and not with a view to or for sale or distribution of said Warrant or Exercise Shares or any part thereof. The Holder also represents that the entire legal and beneficial interests of the Warrant and Exercise Shares the Holder is acquiring is being acquired for, and will be held for, its account only.

 

4.2                               Securities Are Not Registered.

 

(a)                                 The Holder understands that the Warrant and the Exercise Shares have not been registered under the Securities Act of 1933, as amended (the “Act”)  on the basis that no distribution or public offering of the stock of the Company is to be effected. The Holder realizes that the basis for the exemption may not be present if, notwithstanding its representations, the Holder has a present intention of acquiring the securities for a fixed or determinable period in the future, selling (in connection with a distribution or otherwise), granting any participation in, or otherwise distributing the securities. The Holder has no such present intention.

 

(b)                                 The Holder recognizes that the Warrant and the Exercise Shares must be held indefinitely unless they are subsequently registered under the Act or an exemption from such registration is available. The Holder recognizes that the Company has no obligation to register the Warrant or the Exercise Shares of the Company, or to comply with any exemption from such registration.

 

(c)                                  The Holder is aware that neither the Warrant nor the Exercise Shares may be sold pursuant to Rule 144 adopted under the Act unless certain conditions are met, including, among other things, the existence of a public market for the shares, the availability of certain current public information about the Company, the resale following the required holding period under Rule 144 and the number of shares being sold during any three month period not exceeding specified limitations. Holder is aware that the conditions for resale set forth in Rule 144 have not been satisfied and that the Company presently has no plans to satisfy these conditions in the foreseeable future.

 

4.3                               Disposition of Warrant and Exercise Shares.

 

(a)                                 The Holder further agrees not to make any disposition of all or any part of the Warrant or Exercise Shares in any event unless and until:

 

(i)                                    The Company shall have received a letter secured by the Holder from the Securities and Exchange Commission stating that no action will be recommended to the Commission with respect to the proposed disposition;

 

4

 

(ii)                                There is then in effect a registration statement under the Act covering such proposed disposition and such disposition is made in accordance with said registration statement; or

 

(iii)                            The Holder shall have notified the Company of the proposed disposition and shall have furnished the Company with a detailed statement of the circumstances surrounding the proposed disposition, and if reasonably requested by the Company, the Holder shall have furnished the Company with an opinion of counsel, reasonably satisfactory to the Company, for the Holder to the effect that such disposition will not require registration of such Warrant or Exercise Shares under the Act or any applicable state securities laws. The Company agrees that it will not require an opinion of counsel with respect to transactions under Rule 144 of the Act, except in unusual circumstances.

 

(b)                                 The Holder understands and agrees that all certificates evidencing the shares to be issued to the Holder may bear the following legend:

 

THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”). THEY MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT AS TO THE SECURITIES UNDER THE ACT OR AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED.

 

4.4                               Accredited Investor Status. The Holder is an “accredited investor” as defined in Regulation D promulgated under the Act.

 

5.                                      ADJUSTMENT OF EXERCISE PRICE AND NUMBER OF EXERCISE SHARES.

 

5.1                               Changes in Securities. In the event of changes in the series of equity securities of the Company comprising the Exercise Shares by reason of stock dividends, splits, recapitalizations, reclassifications, combinations or exchanges of shares, separations, reorganizations, liquidations, or the like, the number and class of Exercise Shares available under the Warrant in the aggregate and the Exercise Price shall be correspondingly adjusted to give the Holder of the Warrant, on exercise for the same aggregate Exercise Price, the total number, class, and kind of shares as the Holder would have owned had the Warrant been exercised prior to the event and had the Holder continued to hold such shares until after the event requiring adjustment; provided however that such adjustment shall not be made with respect to, and this Warrant shall terminate if not exercised prior to, the events set forth in Section 7 below. For purposes of this Section 5 and Section 7, the “Aggregate Exercise Price”  shall mean the aggregate Exercise Price payable in connection with the exercise in full of this Warrant. The form of this Warrant need not be changed because of any adjustment in the number of Exercise Shares subject to this Warrant.

 

5

 

5.2                               Automatic Conversion. Upon the automatic conversion of all outstanding shares of the series of equity securities comprising the Exercise Shares, this Warrant shall become exercisable for that number of shares of Common Stock of the Company into which the Exercise Shares would then be convertible, so long as such shares, if this Warrant had been exercised prior to such offering, would have been converted into shares of the Company’s Common Stock pursuant to the Company’s Certificate of Incorporation. In such case, all references to “Exercise Shares” shall mean shares of the Company’s Common Stock issuable upon exercise of this Warrant, as appropriate.

 

6.                                      FRACTIONAL SHARES. No fractional shares shall be issued upon the exercise of this Warrant as a consequence of any adjustment pursuant hereto. All Exercise Shares (including fractions) to be issued upon exercise of this Warrant shall be aggregated for purposes of determining whether the exercise would result in the issuance of any fractional share. If, after aggregation, the exercise would result in the issuance of a fractional share, the Company shall, in lieu of issuance of any fractional share, pay the Holder otherwise entitled to such fraction a sum in cash equal to the product resulting from multiplying the then current fair market value of one Exercise Share by such fraction.

 

7.                                      EARLY TERMINATION. In the event of, at any time during the Exercise Period, an initial public offering of securities of the Company registered under the Act, or a Liquidation, the Company shall provide to the Holder twenty (20) days advance written notice of such public offering or Acquisition Event, and this Warrant shall be deemed exercised pursuant to Section 2.1 immediately prior to the date such public offering is closed or the closing of such Acquisition Event.

 

8.                                      REORGANIZATION. In the event of, at any time during the Exercise Period, any capital reorganization of the capital stock of the Company (other than (i) a change in par value or from par value to no par value or no par value to par value or as a result of a stock dividend or subdivision, split-up or combination of shares or (ii) a Liquidation (an “Organic Change”)),  then, as a condition of such Organic Change, lawful and adequate provisions shall be made by the Company whereby the Holder hereof shall thereafter have the right to purchase and receive (in lieu of the Exercise Shares of the Company immediately theretofore purchasable and receivable upon the exercise of the rights represented hereby) such shares of stock, securities or other assets or properly as may be issued or payable with respect to or in exchange for a number of outstanding shares of such Exercise Shares equal to the number of shares of such stock immediately theretofore purchasable and receivable upon the exercise of the rights represented hereby, and the Exercise Price shall be appropriately adjusted so that the Aggregate Exercise Price after such Organic Change shall be equal to the Aggregate Exercise Price immediately prior to such Organic Change.

 

9.                                      NO STOCKHOLDER RIGHTS. This Warrant in and of itself shall not entitle the Holder to any voting rights or other rights as a stockholder of the Company.

 

10.                               TRANSFER OF WARRANT. Subject to applicable laws, the restriction on transfer set forth on the first page of this Warrant, and any restrictions applicable to the transfer of shares

 

6

 

set forth in the Company’s bylaws, as they may be amended from time to time, this Warrant and all rights hereunder are transferable, by the Holder in person or by duly authorized attorney, upon delivery of this Warrant and the form of assignment attached hereto to any transferee designated by Holder. The transferee shall sign an investment letter in form and substance satisfactory to the Company.

 

11.                               LOST, STOLEN, MUTILATED OR DESTROYED WARRANT. If this Warrant is lost, stolen, mutilated or destroyed, the Company may, on such terms as to indemnity or otherwise as it may reasonably impose (which shall, in the case of a mutilated Warrant, include the surrender thereof), issue a new Warrant of like denomination and tenor as the Warrant so lost, stolen, mutilated or destroyed. Any such new Warrant shall constitute an original contractual obligation of the Company, whether or not the allegedly lost, stolen, mutilated or destroyed Warrant shall be at any time enforceable by anyone.

 

12.                               AMENDMENT. Any term of this Warrant may be amended or waived with the written consent of the Company and the Requisite Holders, provided, however, that no such amendment or waiver shall adversely impact the Holder or a group of holders of the Warrants in a manner that is substantially different from another holder or group of holders, without such adversely impacted holder’s consent. Upon the effectuation of such amendment or waiver in conformance with this Section 12, the Company shall promptly give written notice thereof to the record holders of the Warrants who have not previously consented thereto in writing.

 

13.                               NOTICES, ETC. All notices required or permitted hereunder shall be in writing and shall be deemed effectively given: (a) upon personal delivery to the party to be notified, (b) when sent by confirmed telex or facsimile if sent during normal business hours of the recipient, if not, then on the next business day, (c) five (5) days after having been sent by registered or certified mail, return receipt requested, postage prepaid, or (d) one (1) day after deposit with a nationally recognized overnight courier, specifying next day delivery, with written verification of receipt. All communications shall be sent to the Company at the address listed on the signature page and to Holder at the address listed for such Holder on the Schedule of Purchasers attached to the Purchase Agreement or at such other address as the Company or Holder may designate by ten (10) days advance written notice to the other parties hereto.

 

14.                               ACCEPTANCE. Receipt of this Warrant by the Holder shall constitute acceptance of and agreement to all of the terms and conditions contained herein.

 

15.                               GOVERNING LAW. This Warrant and all rights, obligations and liabilities hereunder shall be governed by and construed under the laws of the State of New York as applied to agreements among New York residents, made and to be performed entirely within the Stale of New York without giving effect to conflicts of laws principles.

 

[Signature Page Follows]

 

7

 

IN WITNESS WHEREOF,  the Company has caused this Warrant to be executed by its duly authorized officer as of November 29, 2012.

 

 

	
 
    	
TETRALOGIC   PHARMACEUTICALS CORPORATION
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
Name:
    	
John   M. Gill
    
	
 
    	
 
    	
 
    
	
 
    	
Title:
    	
President   & CEO
    
	
 
    	
 
    	
 
    
	
 
    	
Address:
    	
343   Phoenixville Pike, Malvern, PA 19355
    

 

[SIGNATURE PAGE TO TETRALOGIC WARRANT]

 

 

NOTICE OF EXERCISE 

 

TO: TETRALOGIC PHARMACEUTICALS CORPORATION

 

(1)                                 o                                    The undersigned hereby elects to purchase                              shares of                          (the “Exercise Shares”)  of TETRALOGIC PHARMACEUTICALS CORPORATION (the “Company”) pursuant to the terms of the attached Warrant, and tenders herewith payment of the exercise price in full, together with all applicable transfer taxes, if any.

 

o                                    The undersigned hereby elects to purchase                              shares of                          (the “Exercise Shares”)  of TETRALOGIC PHARMACEUTICALS CORPORATION (the “Company”)  pursuant to the terms of the net exercise provisions set forth in Section 2.1 of the attached Warrant, and shall tender payment of all applicable transfer taxes, if any.

 

(2)                                 Please issue a certificate or certificates representing said Exercise Shares in the name of the undersigned or in such other name as is specified below:

 

	
 
    
	
(Name)
    
	
 
    
	
 
    
	
 
    
	
(Address)
    

 

(3)                                 The undersigned represents that (i) the aforesaid Exercise Shares arc being acquired for the account of the undersigned for investment and not with a view to, or for resale in connection with, the distribution thereof and that the undersigned has no present intention of distributing or reselling such shares; (ii) the undersigned is aware of the Company’s business affairs and financial condition and has acquired sufficient information about the Company to reach an informed and knowledgeable decision regarding its investment in the Company; (iii) the undersigned is experienced in making investments of this type and has such knowledge and background in financial and business matters that the undersigned is capable of evaluating the merits and risks of this investment and protecting the undersigned’s own interests; (iv) the undersigned understands that Exercise Shares issuable upon exercise of this Warrant have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), by reason of a specific exemption from the registration provisions of the Securities Act, which exemption depends upon, among other things, the bona fide nature of the investment intent as expressed herein, and, because such securities have not been registered under the Securities Act, they must be held indefinitely unless subsequently registered under the Securities Act or an exemption from such registration is available; (v) the undersigned is aware that the aforesaid Exercise Shares may not be sold pursuant to Rule 144 adopted under the Securities Act unless certain conditions are met and until the undersigned has held the shares for the number of years prescribed by Rule 144, that among the conditions for use of the Rule is the availability of current information to the public about the Company and the Company has not made such information available and has no present plans to do so; and (vi) the undersigned agrees not to make any disposition of all or any part of the aforesaid shares of Exercise Shares unless and until

 

1

 

there is then in effect a registration statement under the Securities Act covering such proposed disposition and such disposition is made in accordance with said registration statement, or, if reasonably requested by the Company, the undersigned has provided the Company with an opinion of counsel satisfactory to the Company, stating that such registration is not required.

 

	
 
    	
 
    	
 
    
	
 
    	
 
    	
(Signature)
    
	
(Date)
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
(Print   name)
    

 

2

 

ASSIGNMENT FORM

 

(To assign the foregoing Warrant, execute this form and supply required information. Do not use this form to purchase shares.)

 

FOR VALUE RECEIVED, the foregoing Warrant and all rights evidenced thereby are hereby assigned to

 

	
Name:
    	
 
    
	
 
    	
(Please Print)
    
	
 
    
	
Address:
    	
 
    
	
 
    	
(Please Print)
    
	
 
    
	
Dated:                         , 2012
    
	
 
    
	
Holder’s   Signature:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Holder’s   Address:
    	
 
    	
 
    
				

 

 

NOTE: The signature to this Assignment Form must correspond with the name as it appears on the face of the Warrant, without alteration or enlargement or any change whatever. Officers of corporations and those acting in a fiduciary or other representative capacity should file proper evidence of authority to assign the foregoing Warrant.

 

3

 

SCHEDULE OF MATERIAL DIFFERENCES

TO EXHIBIT 4.8

 

	
Warrant Number
    	
 
    	
Name
    	
 
    	
Amount
    	
 
    
	
PCW-1
    	
 
    	
HealthCare   Ventures VII, L.P.
    	
 
    	
$
    	
57,627.99
    	
 
    
	
PCW-2
    	
 
    	
Novitas   Capital III, L.P.
    	
 
    	
$
    	
48,672.58
    	
 
    
	
PCW-3
    	
 
    	
Quaker   BioVentures, L.P.
    	
 
    	
$
    	
46,674.12
    	
 
    
	
PCW-4
    	
 
    	
LVP   Life Science Ventures III, L.P.
    	
 
    	
$
    	
25,878.78
    	
 
    
	
PCW-5
    	
 
    	
LVP III   Associates, L.P.
    	
 
    	
$
    	
1,293.94
    	
 
    
	
PCW-6
    	
 
    	
LVP III   Partners, L.P.
    	
 
    	
$
    	
646.96
    	
 
    
	
PCW-7
    	
 
    	
Vertical   Fund I, L.P.
    	
 
    	
$
    	
16,196.37
    	
 
    
	
PCW-8
    	
 
    	
Vertical   Fund II, L.P.
    	
 
    	
$
    	
4,049.14
    	
 
    
	
PCW-9
    	
 
    	
Amgen   Ventures LLC
    	
 
    	
$
    	
13,363.92
    	
 
    
	
PCW-10
    	
 
    	
George   McLendon
    	
 
    	
$
    	
186.94
    	
 
    
	
PCW-11
    	
 
    	
Pecora &   Co., LLC
    	
 
    	
$
    	
1,828.19
    	
 
    
	
PCW-12
    	
 
    	
Clarus   Life Sciences II, LP
    	
 
    	
$
    	
266,790.53
    	
 
    
	
PCW-13
    	
 
    	
Hatteras   Venture Partners III, LP
    	
 
    	
$
    	
81,526.74
    	
 
    
	
PCW-14
    	
 
    	
Hatteras   Venture Affiliates III, LP
    	
 
    	
$
    	
7,403.44
    	
 
    
	
PCW-15
    	
 
    	
Pfizer Inc.
    	
 
    	
$
    	
88,930.18
    	
 
    
	
PCW-16
    	
 
    	
Nextech   III Oncology, LPCI
    	
 
    	
$
    	
66,697.64
    	
 
    
	
PCW-17
    	
 
    	
ONC   Partners, L.P.
    	
 
    	
$
    	
22,232.54

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00222-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00222-of-00352.parquet"}]]