Michael Abrams - 06 Jul 2022 Form 4 Insider Report for Arch Therapeutics, Inc. (ARTHQ)

Signature
/s/ Michael Abrams
Issuer symbol
ARTHQ
Transactions as of
06 Jul 2022
Net transactions value
$0
Form type
4
Filing time
08 Jul 2022, 16:57:10 UTC
Previous filing
01 Oct 2021
Next filing
10 Nov 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ARTH Common Stock Award +108,652 108,652 06 Jul 2022 Direct F1

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

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction ARTH Senior Secured Convertible Notes Award +36,000 $36,000 06 Jul 2022 Common Stock 787,746 Direct F1, F2
transaction ARTH Warrants Award +724,346 724,346 06 Jul 2022 Common Stock 724,346 $0.0497 Direct F1, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The shares of common stock, senior secured convertible notes (the "Notes") and warrants were issued to the Reporting Person in connection with a convertible note offering entered into by the Reporting Person and the Issuer (the "Offering"), which Offering was approved by the Issuer's Board of Directors and, in accordance with Rule 16b-3(d)(1) of the Exchange Act (the "Act"), is exempt from Section 16(b) of the Act pursuant to Rule 16b-3(e) promulgated thereunder.
F2 The Notes become due and payable on January 6, 2024, bear interest at a rate of 10% per annum, are convertible at the option of the holder pursuant to certain provisions with an initial conversion price of $0.0457, contain customary events of default and are subject to certain beneficial ownership limitations.
F3 Conversion of the warrants is subject to certain beneficial ownership limitations.