SEC Form 4
FORM 4 | UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP 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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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). |
1. Name and Address of Reporting Person*
(Street)
| 2. Issuer Name and Ticker or Trading Symbol True Drinks Holdings, Inc. [ TRUU ] | 5. Relationship of Reporting Person(s) to Issuer (Check all applicable)
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3. Date of Earliest Transaction (Month/Day/Year) 09/11/2015 | ||||||||||||||||||||||||||
4. If Amendment, Date of Original Filed (Month/Day/Year) | 6. Individual or Joint/Group Filing (Check Applicable Line)
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ||||||||||
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1. Title of Security (Instr. 3) | 2. Transaction Date (Month/Day/Year) | 2A. Deemed Execution Date, if any (Month/Day/Year) | 3. Transaction 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 |
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
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1. Title of Derivative Security (Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction 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 (Month/Day/Year) | 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: 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 | ||||||||
Option to Acquire Series C Convertible Preferred Stock(1) | $113.33(1) | 09/11/2015 | X | 1 | (2) | (2) | Series C Convertible Preferred Stock | 3,529(1) | $0.00 | 0 | I | Red Beard Holdings, LLC(3) | |||
Series C Convertible Preferred Stock(4) | (4) | 09/11/2015 | X | 3,529 | (5) | (5) | Common Stock | 2,075,882(4) | $113.33(1) | 17,648(6) | I | Red Beard Holdings, LLC(3) | |||
Common Stock Warrant (Right to Acquire)(7) | $0.17(7) | 09/11/2015 | J | 726,559(7) | (7) | (7) | Common Stock | 726,559(7) | $0.00 | 726,559 | I | Red Beard Holdings, LLC(3) |
Explanation of Responses: |
1. On August 13, 2015, the Issuer entered into a Securities Purchase Agreement (the "Purchase Agreement") with Red Beard Holdings, LLC, a Delaware limited liability company ("Red Beard"), pursuant to which, among other things, Red Beard acquired an option to purchase 3,529 shares of the Issuer's Series C Convertible Preferred Stock (the "Series C Preferred") for $113.33 per share, exercisable on or before September 15, 2015 (the "Option"). |
2. The Option was immediately exercisable when granted. On September 11, 2015, Red Beard delivered a notice of exercise to the Issuer with respect to the full amount of the shares of Series C Preferred covered by the Option. |
3. The securities reported in this row are held by Red Beard. The Reporting Person is the Manager of Red Beard and has sole power to vote and dispose of the securities held by Red Beard. |
4. Each share of Series C Preferred has a stated value of $100 per share and is convertible into that number of shares of the Issuer's Common Stock (the "Common Stock") equal to the stated value, divided by $0.17 per share. As a result, the 3,529 shares of Series C Preferred are convertible into 2,075,882 shares of the Common Stock. |
5. The shares of Series C Preferred are convertible immediately upon issuance and have no expiration date. |
6. Pursuant to the Purchase Agreement, Red Beard purchased 7,942 shares of the Series C Preferred on August 13, 2015 and 6,177 shares of the Series C Preferred on August 28, 2015 per share. As a result, following the exercise of the Option, Red Beard holds an aggregate of 17,648 shares of the Series C Preferred. |
7. Pursuant to the Purchase Agreement, upon the exercise of the Option, Red Beard received warrants (the "Warrants") to purchase 35% of the number of shares of Common Stock underlying the shares of Series C Preferred purchased upon exercise of the Option. Accordingly, Red Beard received Warrants to purchase an aggregate of 726,559 shares of the Common Stock. The Warrants have a five-year term and are immediately exercisable for $0.17 per share. |
Remarks: |
/s/ Vincent C. Smith | 09/15/2015 | |
** 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 Number. |