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GNMX Aevi Genomic Medicine Inc

0.1659
0.00 (0.00%)
10 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Aevi Genomic Medicine Inc NASDAQ:GNMX NASDAQ Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.1659 0.1601 0.165 0 01:00:00

Statement of Changes in Beneficial Ownership (4)

05/02/2020 9:16pm

Edgar (US Regulatory)


FORM 4 [X] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response...
0.5                       
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

Children's Hospital of Philadelphia Foundation
2. Issuer Name and Ticker or Trading Symbol

Aevi Genomic Medicine, Inc. [ GNMX ]
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)

3401 CIVIC CENTER BOULEVARD
3. Date of Earliest Transaction (MM/DD/YYYY)

2/3/2020
(Street)

PHILADELPHIA, PA 19104
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

_X _ Form filed by One Reporting Person
___ 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 2/3/2020  J  38856891 A (1)57280927 D  
Common Stock 2/3/2020  J  57280927 D (2)0 D  

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security3. Trans. Date3A. Deemed Execution Date, if any4. 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 Date7. 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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Warrant (Right to Purchase) $2.84 2/3/2020  D     2824217   (3)10/17/2022 Common Stock 2824217 $0 0 D  

Explanation of Responses:
(1) The reporting person and the issuer are parties to a Secured Promissory Note dated March 29, 2019, as amended (the "Note"), which was amended in November 2019 to provide that upon a change in control, the Note would be converted into shares of common stock of the issuer equal to one-third of the issuer's common stock then outstanding on a fully-diluted basis, representing a conversion price that was not fixed. In connection with the consummation of the previously announced merger (the "Merger") pursuant to the Agreement and Plan of Merger and Reorganization by and among Cerecor Inc. ("Cerecor"), Genie Merger Sub, Inc., Second Genie Merger Sub, LLC and issuer, the Note converted into the referenced number of shares, representing one-third of the issuer's common stock then outstanding on a fully-diluted basis.
(2) Disposed of as a result of the Merger. At the effective time of the Merger, holders of issuer common stock received (A) the fraction of a share of Cerecor common stock equal to the exchange ratio of 0.0334 (B) one contingent value right, which represents the right to receive contingent payments upon the achievement of certain milestones and (C) cash in lieu of any fractional shares of Cerecor common stock.
(3) This warrant, which was issued pursuant to a Securities Purchase Agreement dated August 9, 2017, was subsequently amended by the Amendment Agreement of Warrants to Purchase Common Stock dated December 5, 2019, whereby the parties agreed that immediately prior to the Merger the warrants would be automatically exercised in a cashless exercise. Given that the exercise price of the outstanding warrants exceeded the per share Merger consideration, the cashless exercise resulted in no shares of common stock being issued and the warrant was rendered null and void. The reporting person also claims the availability of an exemption under rule 16b-3(d) and 16b-3(e) for the transactions reported on this Form 4, because at all relevant times, the reporting person was a "deputized director" of the issuer. In addition, the reporting person also claims the availability of the "unorthodox transaction" exemption under Section 16(b).

Reporting Owners
Reporting Owner Name / Address
Relationships
Director10% OwnerOfficerOther
Children's Hospital of Philadelphia Foundation
3401 CIVIC CENTER BOULEVARD
PHILADELPHIA, PA 19104

X


Signatures
/s/ Thomas J. Todorow, Chief Financial Officer2/5/2020
**Signature of Reporting PersonDate

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