Chembio Diagnostics (CEMI) insider Perceptive Credit Advisors disposed of 5,162,782 shares at $0.45

Insider transactions reported

Perceptive Credit Advisors, LLC (insider at Chembio Diagnostics Inc., CEMI) reported that they disposed of 5,162,782 shares at $0.45 on Apr 27, 2023. After these transactions the filing shows 0 shares held indirectly (See Footnote).

Reporting person

Perceptive Credit Advisors, LLC

Holdings before and after

• Common Stock: 5,162,782 to 0 indirect, See Footnote

Footnotes from the filing

1. 1. The disposition of common stock reported herein in the tender offer and subsequent acquisition of the Issuer completed on April 27, 2023 pursuant to the Agreement and Plan of Merger, dated as of January 31, 2023 with Biosynex SA and Project Merci Merger Sub, Inc., may have been matchable under Section 16(b) of the Securities Exchange Act of 1934, to the extent of 1,344,846 of the shares purchased by the reporting persons between April 4, 2023 and April 25, 2023. The Reporting Persons have agreed to pay to the Issuer $302.20, representing the full amount of the profit realized in connection with the transactions, representing the sales proceeds net of transaction costs.
2. 2. The securities are directly held by Perceptive Credit Holdings II, L.P. (the Credit Fund ). Perceptive Credit Opportunities GP, LLC is the general partner of the Credit Fund, and Perceptive Credit Advisors LLC ( Credit Advisor ) serves as the investment manager of the Credit Fund and as a relying advisor under Perceptive Advisors LLC (the Advisor ). Joseph Edelman is the managing member of Credit Advisor and the Advisor. The Credit Advisor, the Advisor, and Mr. Edelman disclaim, for purposes of Section 16 of the Securities Exchange Act of 1934, beneficial ownership of such securities, except to the extent of its or his indirect pecuniary interest therein, and this report shall not be deemed an admission that the Credit Advisor or Mr. Edelman is the beneficial owner of such securities for purposes of Section 16 or for any other purposes.

FAQ