Vivo Opportunity, LLC - Jul 1, 2022 Form 4 Insider Report for Sierra Oncology, Inc. (SRRA)

Role: Director, 10%+ Owner
Signature: /s/ Gaurav Aggarwal as a managing member of Vivo Opportunity, LLC
Stock symbol: SRRA
Transactions as of: Jul 1, 2022
Transactions value $: -$183,123,160
Form type: 4
Date filed: 7/1/2022, 04:59 PM
Previous filing: Jan 31, 2022
Next filing: Aug 16, 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Date	Ownership	Footnotes
transaction	SRRA	Common Stock	Disposed to Issuer	-$8.89M	-162K	-100%	$55.00	Jul 1, 2022	By: Vivo Ventures Fund VII, L.P. and Vivo Ventures VII Affiliates Fund, L.P.	F1, F2
transaction	SRRA	Common Stock	Disposed to Issuer	-$150M	-2.74M	-100%	$55.00	Jul 1, 2022	By: Vivo Opportunity Fund Holdings, L.P.	F2, F3
transaction	SRRA	Common Stock	Disposed to Issuer	-$23.8M	-432K	-100%	$55.00	Jul 1, 2022	By: Vivo Capital Fund IX, L.P.	F2, F4

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	SRRA	Series A Warrants	Disposed to Issuer	$0	-325K	-100%	$0.00^*	Jul 1, 2022	Common Stock	325K	$13.20	By: Vivo Capital Fund IX, L.P.	F2, F4, F5
transaction	SRRA	Series A Warrants	Disposed to Issuer	$0	-1.46M	-100%	$0.00^*	Jul 1, 2022	Common Stock	1.46M	$13.20	By: Vivo Opportunity Fund Holdings, L.P.	F2, F3, F4, F5
transaction	SRRA	Series A Warrants	Disposed to Issuer	$0	-75.7K	-100%	$0.00^*	Jul 1, 2022	Common Stock	75.7K	$13.20	By: Vivo Ventures Fund VII, L.P. and Vivo Ventures VII Affiliates Fund, L.P.	F1, F2, F4, F5

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Vivo Opportunity, LLC is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id	Content
F1	Vivo Ventures VII, LLC ("Vivo Ventures LLC") is the general partner of each of Vivo Ventures Fund VII, L.P. and Vivo Ventures VII Affiliates Fund, L.P. ("Vivo Fund VII"), the record holder of the securities. Vivo Ventures LLC disclaims beneficial ownership over such securities except to the extent of its pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of the reported securities for purposes of Section 16 or for any other purposes.
F2	Pursuant to an Agreement and Plan of Merger, dated April 12, 2022, between GlaxoSmithKline plc ("GSK"), Orikum Acquisition Inc. ("Merger Sub") and the Issuer (the "Merger Agreement"), Merger Sub merged with and into the Issuer on July 1, 2022, with the Issuer surviving as a wholly-owned subsidiary of GSK (the "Merger"). At the effective time of the Merger, each outstanding share of common stock of the Issuer automatically and without any required action on the part of the Reporting Person, was converted into the right to receive $55.00 in cash, without interest.
F3	Vivo Opportunity, LLC ("Vivo Opportunity LLC") is the general partner of Vivo Opportunity Fund Holdings, L.P., the record holder of the securities. Vivo Opportunity LLC disclaims beneficial ownership over such securities except to the extent of its pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of the reported securities for purposes of Section 16 or for any other purposes.
F4	Vivo Capital IX, LLC ("Vivo Capital IX LLC") is the general partner of Vivo Capital Fund IX, L.P., the record holder of the securities. Vivo Capital IX LLC disclaims beneficial ownership over such securities except to the extent of its pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of the reported securities for purposes of Section 16 or for any other purposes.
F5	Pursuant to the terms of the Merger Agreement, the Issuer's outstanding Series A Warrants (the "Series A Warrants") were treated in accordance with their respective terms such that, at the effective time of the Merger, the outstanding Series A Warrants were cancelled and thereafter represent only the right to receive an amount in cash, without interest, equal to the Black Scholes Value (as defined in the Series A Warrants), which as calculated under the terms of the Series A Warrants equaled $45.98 per share of common stock underlying such warrants.

Remarks:

Gaurav Aggarwal has been deputized to represent the Reporting Persons on the board of directors of the Issuer. By virtue of Dr. Aggarwal's representation, for purposes of Section 16 of the Securities Exchange Act of 1934 each of the Reporting Persons may be deemed directors by deputization of the Issuer. Dr. Aggarwal has filed a separate Section 16 report disclosing securities of the Issuer that he may be deemed to beneficially own for Section 16 purposes.