Statement of Changes in Beneficial Ownership (4)
16 Avril 2022 - 12:14AM
Edgar (US Regulatory)
FORM 4
[ ] Check this box if no longer subject to Section
16. Form 4 or Form 5 obligations may continue. See
Instruction 1(b).
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL
OWNERSHIP OF SECURITIES
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OMB
APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response... 0.5 |
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Filed pursuant to Section 16(a) of the
Securities Exchange Act of 1934 or Section 30(h) of the Investment
Company Act of 1940
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1. Name
and Address of Reporting Person * BROADWOOD PARTNERS,
L.P. |
2. Issuer Name and Ticker or Trading
Symbol Oncocyte Corp [ OCX ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)_____
Director __X__
10% Owner
_____ Officer (give title
below) _____ Other
(specify below)
|
(Last)
(First)
(Middle)
C/O BROADWOOD CAPITAL INC., 142 WEST 57TH STREET, 11TH
FLOOR |
3. Date of Earliest Transaction (MM/DD/YYYY)
4/13/2022
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(Street)
NEW YORK, NY 10019
(City)
(State)
(Zip)
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4. If Amendment, Date Original Filed
(MM/DD/YYYY)
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6. Individual or Joint/Group Filing
(Check Applicable Line) ___
Form filed by One Reporting Person
_ X _ Form filed by More than One Reporting
Person |
Table I - Non-Derivative Securities Acquired, Disposed of, or
Beneficially Owned
|
1.Title of Security
(Instr. 3) |
2. Trans. Date |
2A. Deemed Execution Date, if any |
3. Trans. Code
(Instr. 8) |
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) |
5. Amount of Securities Beneficially Owned Following
Reported Transaction(s)
(Instr. 3 and 4) |
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4) |
7. Nature of Indirect Beneficial Ownership (Instr.
4) |
Code |
V |
Amount |
(A) or (D) |
Price |
Common Stock, no par value |
4/14/2022 |
|
P(5)(6) |
|
6003752 |
A |
$1.3325 (5)(6) |
23353697 |
D (1) |
|
Common Stock, no par value |
4/14/2022 |
|
P(5)(6) |
|
0 |
A |
$0 |
23353697 |
I |
Footnote (1) |
Common Stock, no par value |
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|
|
|
|
|
|
3145 |
D (2) |
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Table II - Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible
securities)
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1. Title of Derivate Security
(Instr. 3) |
2. Conversion or Exercise Price of Derivative
Security |
3. Trans. Date |
3A. Deemed Execution Date, if any |
4. Trans. Code
(Instr. 8) |
5. Number of Derivative Securities Acquired (A) or
Disposed of (D)
(Instr. 3, 4 and 5) |
6. Date Exercisable and Expiration Date |
7. Title and Amount of Securities Underlying
Derivative Security
(Instr. 3 and 4) |
8. Price of Derivative Security
(Instr. 5) |
9. Number of derivative Securities Beneficially
Owned Following Reported Transaction(s) (Instr. 4) |
10. Ownership Form of Derivative Security: Direct
(D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr.
4) |
Code |
V |
(A) |
(D) |
Date Exercisable |
Expiration Date |
Title |
Amount or Number of Shares |
Series A Convertible Preferred
Stock |
$1.53 |
4/13/2022 |
|
A (3)(4) |
|
5882.35 |
|
(3)(4) |
(3)(4) |
Common Stock |
3884675 |
(3)(4) |
5882.35 |
D (1) |
|
Series A Convertible Preferred
Stock |
$1.53 |
4/13/2022 |
|
A (3)(4) |
|
0 |
|
(3)(4) |
(3)(4) |
Common Stock |
3884675 |
(3)(4) |
5882.35 |
I |
Footnote (1) |
Warrant to Purchase Common
Stock |
$1.53 |
4/14/2022 |
|
A (5)(6) |
|
6003752 |
|
(5)(6) |
4/19/2027 |
Common Stock |
3001876 |
(5)(6) |
6003752 |
D (1) |
|
Warrant to Purchase Common
Stock |
$1.53 |
4/14/2022 |
|
A (5)(6) |
|
0 |
|
(5)(6) |
4/19/2027 |
Common Stock |
3001876 |
(5)(6) |
6003752 |
I |
Footnote (1) |
Warrant to Purchase Common
Stock |
$3.25 |
|
|
|
|
|
|
(7) |
7/21/2022 |
Common Stock |
270000 |
|
270000 |
D (1) |
|
Warrant to Purchase Common
Stock |
$3.25 |
|
|
|
|
|
|
(7) |
7/21/2022 |
Common Stock |
270000 |
|
270000 |
I |
Footnote (1) |
Explanation of
Responses: |
(1) |
The reported securities are
directly owned by Broadwood Partners, L.P. ("Broadwood Partners")
and may be deemed to be indirectly beneficially owned by: (i)
Broadwood Capital, Inc. ("Broadwood Capital") as General Partner of
Broadwood Partners; and (ii) Neal C. Bradsher as President of
Broadwood Capital. Each Reporting Person disclaims beneficial
ownership of the reported securities except to the extent of its or
his pecuniary interest therein, and this report shall not be deemed
an admission that such Reporting Person is the beneficial owner of
the securities for purposes of Section 16 of the Securities
Exchange Act of 1934, as amended, or for any other
purpose. |
(2) |
These securities are
directly owned by Neal C. Bradsher. |
(3) |
On April 13, 2022, Broadwood
Partners entered into a Securities Purchase Agreement (the
"Purchase Agreement") with Oncocyte Corporation (the "Issuer")
pursuant to which Broadwood Partners acquired 5,882.35 shares of
Series A Convertible Preferred Stock (the "Series A Shares") from
the Issuer in its registered direct offering for a total purchase
price of $5,000,000, or $850 per Series A Share. The Series A
Shares are currently convertible into 3,884,675 shares of the
Issuer's common stock, no par value (the "Common Stock"), at the
conversion price of $1.53 per share, subject to a blocker provision
that prevents Broadwood Partners from converting the Series A
Shares if it would be more than a 19.99% beneficial owner of the
Common Stock following such conversion. |
(4) |
(Continued from Footnote 3)
The Issuer has agreed to use its reasonable best efforts to obtain
shareholder approval for the 19.99% blocker provision to be waived
with respect to the Reporting Persons, so that the Reporting
Persons may increase their beneficial ownership of the Common Stock
above 19.99%. On April 8, 2024 or the earlier occurrence of certain
events or transactions specified in the Purchase Agreement, the
Issuer will mandatorily redeem all of the Series A Shares for a
cash payment calculated in accordance with the terms of the
Purchase Agreement. |
(5) |
On April 14, 2022, Broadwood
Partners participated in the Issuer's underwritten public offering
pursuant to which it acquired: (i) 6,003,752 shares of the Common
Stock; and (ii) 6,003,752 warrants (the "Warrants") to purchase up
to 3,001,876 shares of the Common Stock at an exercise price of
$1.53 per share. The Warrants (i) are currently exercisable,
subject to a blocker provision that prevents Broadwood Partners
from exercising the Warrants if it would be more than a 19.99%
beneficial owner of the Common Stock following such exercise, and
(ii) expire on April 19, 2027. |
(6) |
(Continued from Footnote 5)
The Issuer has agreed to use its reasonable best efforts to obtain
shareholder approval for the 19.99% blocker provision to be waived
with respect to the Reporting Persons, so that the Reporting
Persons may increase their beneficial ownership of the Common Stock
above 19.99%. The aggregate purchase price paid for the Common
Stock and the Warrants was $7,999,999.54. |
(7) |
These warrants are currently
exercisable. |
Reporting
Owners
|
Reporting Owner Name / Address |
Relationships
|
Director |
10% Owner |
Officer |
Other |
BROADWOOD PARTNERS, L.P.
C/O BROADWOOD CAPITAL INC.
142 WEST 57TH STREET, 11TH FLOOR
NEW YORK, NY 10019 |
|
X |
|
|
BRADSHER NEAL C
C/O BROADWOOD CAPITAL INC.
142 WEST 57TH STREET, 11TH FLOOR
NEW YORK, NY 10019 |
|
X |
|
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BROADWOOD CAPITAL INC
142 WEST 57TH STREET, 11TH FLOOR
NEW YORK, NY 10019 |
|
X |
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Signatures
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Broadwood Partners, L.P., By Broadwood Capital,
Inc., By: /s/ Neal C. Bradsher, President |
|
4/15/2022 |
**Signature of
Reporting Person |
Date |
/s/ Neal C. Bradsher |
|
4/15/2022 |
**Signature of
Reporting Person |
Date |
Broadwood Capital, Inc., By: /s/ Neal C.
Bradsher, President |
|
4/15/2022 |
**Signature of
Reporting Person |
Date |
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 control number. |
OncoCyte (AMEX:OCX)
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