Document:

EX-10.16.1.1

 Exhibit 10.16.1.1 

AMENDMENT OF 
 SECURED CONVERTIBLE PROMISSORY NOTE 
 This Amendment of Secured Convertible Promissory Note is entered into as of July 15, 2013 between Biocept, Inc., a California corporation (“Biocept”) and The Reiss Family GST Exempt
Marital Deduction Trust (the “Trust”) with respect to the Secured Convertible Promissory Note dated December 22, 2008 in the original principal amount of $1,400,000 issued by Biocept to the Trust (the “Note”). 

The Note is amended by adding a new Section 5.1.1 thereto, to read in full as follows: 

“5.1.1 Effective immediately before the closing of any bona fide firm commitment initial public offering by the Company (or Delaware
reincorporation successor of the Company), the Conversion Amount shall automatically be converted into that number of (unregistered) shares of common stock of the Company (or, as the case may be, of the Company’s Delaware reincorporation
successor) as is equal to the Conversion Amount divided by the public offering price per share to the public of such common stock in such initial public offering.” 
 Except as expressly set forth herein, the Note remains unchanged and in full force and effect. 
  

			
	BIOCEPT, INC.
		
	By:	 	 /s/ William Kachioff

		
	Title:	 	 CFO

	
	THE REISS FAMILY GST EXEMPT MARITAL DEDUCTION
TRUST
		
	By:	 	 /s/ Claire Reiss, Trustee

		 	Claire Reiss, TrusteeEX-10.16.2

 Exhibit 10.16.2 

THIS WARRANT AND THE UNDERLYING SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
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 SECURITIES ACT OR AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT SUCH
REGISTRATION IS NOT REQUIRED. 
 THE SALE, PLEDGE, HYPOTHECATION OR TRANSFER OF THE SECURITIES REPRESENTED BY THIS
WARRANT IS SUBJECT TO THE TERMS AND CONDITIONS OF A CERTAIN NOTE AND WARRANT PURCHASE AGREEMENT BY AND BETWEEN THE HOLDER AND THE COMPANY. COPIES OF SUCH AGREEMENT MAY BE OBTAINED UPON WRITTEN REQUEST TO THE SECRETARY OF THE COMPANY. 

BIOCEPT, INC. 
 WARRANT TO PURCHASE PREFERRED STOCK 
  

			
	No. PSW-1	  	December 22, 2008

 THIS CERTIFIES THAT,
for value received, THE REISS FAMILY GST EXEMPT MARITAL DEDUCTION TRUST, or its assigns (the
“Holder”), is entitled to subscribe for and purchase at the Exercise Price (defined below) from BIOCEPT, INC., a California corporation (the
“Company”), up to such number and series of fully paid and nonassessable shares of Preferred Stock of the Company (or such other number, class and kind of shares as may be issuable hereunder pursuant to Section 2 below)
(the “Exercise Shares”) as set forth herein, during the Exercise Period (as defined below). 
 This Warrant is issued pursuant to the Note and Warrant Purchase Agreement of even date herewith among the Company and the Holder (the “Purchase Agreement”). Pursuant to the
Purchase Agreement, the Company also issued Holder a Secured Convertible Promissory Note of even date herewith (the “Note”) in the principal amount of $1,400,000.00. Capitalized terms used and not otherwise defined herein
shall have the meanings given to them in the Note. 
 1. DEFINITIONS. As used herein, the
following terms shall have the following respective meanings: 
 (a) “Exercise
Period” shall mean the period commencing on the date of the Next Equity Financing (as defined below) and ending five (5) years from the date of the Next Equity Financing, unless sooner terminated as provided below.

 (b) “Exercise Price” shall mean the per share price of the securities sold at
the Next Equity Financing. 

  

 (c) “Next Equity Financing” shall mean the
first equity financing following the date hereof involving the sale by the Company of its Preferred Stock in which the Company receives an aggregate of at least $2,000,000 in cumulative gross proceeds, including conversion of any outstanding
indebtedness of the Company, including the Note. 
 (d) “Warrant Coverage Amount”
shall mean the Holder’s Loan Amount (as defined in the Purchase Agreement) multiplied by .10. 
 2.
NUMBER OF SHARES. The number of Exercise Shares for which this Warrant may be exercisable shall be determined by dividing the Warrant Coverage Amount by the Exercise Price. 

3. EXERCISE OF WARRANT. The rights represented by this Warrant may be
exercised in whole or in part at any time during the Exercise Period, by delivery of the following to the Company at its address set forth on the signature page hereto (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, (ii) by cancellation of indebtedness,
or (iii) any combination thereof; 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 a reasonable time after the rights represented by this Warrant shall have been so
exercised. 
 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. 
 4. COVENANTS OF
THE COMPANY. 
 4.1 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 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 is not 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 to such number of shares as shall be sufficient for such purposes. 

  
 2. 

 4.2 No Impairment. Except and to the extent as waived or consented
to by the Holder, the Company will not, by amendment of its Amended and Restated Articles of Incorporation or through any reorganization, transfer of assets, consolidation, merger, dissolution, issue or sale of securities or any other voluntary
action, avoid or seek to avoid the observance or performance of any of the terms to be observed or performed hereunder by the Company, but will at all times in good faith assist in the carrying out of all the provisions of this Warrant and in the
taking of all such action as may be necessary or appropriate in order to protect the exercise rights of the Holder against impairment. 
 5. ADJUSTMENT OF EXERCISE PRICE. In the event of changes in the outstanding Preferred Stock of the Company by reason of stock dividends,
split-ups, recapitalizations, reclassifications, combinations or exchanges of shares, separations, reorganizations, liquidations, or the like, the number and class of 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 8 below. The form of this Warrant need not be changed because of any adjustment in the number of Exercise Shares subject to this Warrant. 
 6. ADJUSTMENTS FOR DILUTING ISSUANCES. The Exercise Price and the number of Exercise Shares issuable upon exercise of this Warrant or, if
the Exercise Shares are Preferred Stock, the number of shares of common stock issuable upon conversion of the Exercise Shares, shall be subject to adjustment, from time to time in the manner set forth in the Company’s Amended and Restated
Articles of Incorporation, as amended from time to time, as if the Exercise Shares were issued and outstanding on and as of the date of any such required adjustment. Any adjustment to the conversion rate of the Exercise Shares issuable upon the
exercise of this Warrant effected prior to any exercise of this Warrant shall apply to any Exercise Shares thereafter issued pursuant to the terms hereof. 
 7. 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) issuable upon exercise of this Warrant may 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 an Exercise
Share by such fraction. 
 8. 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 Securities Act, or any capital reorganization, or any reclassification of the capital stock of the Company (other than 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 

  
 3. 

 
a stock dividend or subdivision, split-up or combination of shares), or an Asset Transfer or Acquisition (as defined in the Company’s Amended and Restated Articles of Incorporation, as
amended) (other than a merger solely to effect a reincorporation of the Company into another state), the Company shall provide to the Holder 20 days advance written notice of such public offering, reorganization, reclassification, consolidation,
merger or sale or other disposition of the Company’s assets, and this Warrant shall terminate unless exercised prior to the date such public offering is closed or the occurrence of such reorganization, reclassification, consolidation, merger or
sale or other disposition of the Company’s assets. 
 9. MARKET
STAND-OFF AGREEMENT. Holder shall not sell, dispose of, transfer, make any short sale of, grant any option for the purchase of, or enter into any hedging or similar transaction with the same economic
effect as a sale with respect to, any Common Stock (or other securities) of the Company held by such Holder, for a period of time specified by the managing underwriter(s) not to exceed 180 days following the effective date of a registration
statement of the Company filed under the Securities Act in connection with the Company’s initial public offering (or such longer period, not to exceed 34 days after the expiration of the 180-day period, as the underwriters or the Company shall
request in order to facilitate compliance with NASD Rule 2711 or NYSE Member Rule 472 or any successor or similar rule or regulation). Holder agrees to execute and deliver such other agreements as may be reasonably requested by the Company and/or
the managing underwriter(s) which are consistent with the foregoing or which are necessary to give further effect thereto. In order to enforce the foregoing covenant, the Company may impose stop-transfer instructions with respect to such Common
Stock (or other securities) until the end of such period. Each Holder agrees that any transferee of Common Stock (or other securities) shall be bound by this Section 9. The underwriters of the Company’s stock are intended third party
beneficiaries of this Section 9 and shall have the right, power and authority to enforce the provisions hereof as though they were a party hereto. 
 10. NO SHAREHOLDER RIGHTS. This Warrant in and of itself shall not entitle the Holder to any voting rights or other rights as a shareholder of the
Company. 
 11. TRANSFER OF WARRANT. Subject to applicable
laws and the restrictions on transfer set forth in this Warrant, 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. 
 12. 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.

 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,

  
 4. 

 
then on the next business day, (c) five days after having been sent by registered or certified mail, return receipt requested, postage prepaid, or (d) one 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 and the Holder at the address set forth on the signature page hereto, or at such other
address as the Company or Holder may designate by 10 days advance written notice to the other party 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. COUNTERPARTS. This Warrant may
be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. 
 16. GOVERNING LAW. This Warrant shall be governed by, and construed and enforced in accordance with, the laws of the State of California, applied to agreements between
California residents, made to be performed entirely within the State of California, without giving effect to conflicts of law principles. 
 17. AMENDMENT; WAIVER. Any term of this Warrant may be amended or waived with the written consent of the Company and the Holder. 

[REMAINDER OF THIS PAGE INTENTIONALLY LEFT
BLANK] 

  
 5. 

 IN WITNESS WHEREOF, the
Company has caused this Warrant to be executed by its duly authorized officer as of the date set forth above. 
  

			
	 BIOCEPT, INC.

		
	 By:
	 	 /s/ Stephen Coutts

		
	 Name:
	 	 Stephen Coutts

		
	 Title:
	 	 President & CEO

		
	 Address:
	 	 5810 Nancy Ridge Dr.

		
		 	 San Diego, CA 92121

 Acknowledged and accepted: 
  

			
	
THE REISS FAMILY GST EXEMPT 
MARITAL
 DEDUCTION TRUST

		
	 By:
	 	 /s/ Claire Reiss

		
	 Name:
	 	 Claire Reiss

		
	 Title:
	 	 Trustee

 [SIGNATURE PAGE TO WARRANT] 

 NOTICE OF EXERCISE 
 TO: BIOCEPT, INC. 
 (1)
The undersigned hereby elects to purchase                      Exercise Shares of Biocept, Inc. (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. 
 (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 are 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 the 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 Exercise Shares unless and until 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 the undersigned
has provided the Company with an opinion of counsel satisfactory to the Company, stating that such registration is not required. 
  

					
	  

(Date)
	 		 	  

(Signature)

			
		 		 	  
 (Print
name)

  

 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:             , 20    

	
	 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.

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