[Form 4] LEAP THERAPEUTICS, INC. Insider Trading Activity
Rhea-AI Filing Summary
Cypherpunk Technologies Inc. (CYPH) insiders reported an internal transfer of derivative securities. Winklevoss-affiliated entities filed a Form 4 showing an assignment of warrants for no additional consideration, representing rights to buy 5,616,906 shares of common stock. The warrants are exercisable immediately and expire on 10/08/2035, with an exercise price of $0.5335 per share.
Following the transaction, the reporting persons indirectly beneficially own 57,182,378 warrants through Winklevoss Treasury Investments, LLC. Warrant exercises are limited so that the reporting group’s beneficial ownership does not exceed 19.99% of Cypherpunk’s outstanding common stock after any exercise.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Gift | Warrant (Right to Buy) | 5,616,906 | $0.125 | $702K |
Footnotes (1)
- Represents an assignment of Warrants for no additional consideration. The Warrants are exercisable immediately. Notwithstanding the foregoing, the Reporting Persons shall not be entitled to exercise the Warrants to the extent that such exercise would cause the aggregate number of shares of Common Stock beneficially owned by the Reporting Persons, their affiliates and any persons who are members of a Section 13(d) group with the Reporting Persons or their affiliates to exceed 19.99% of the total number of issued and outstanding shares of Common Stock of the Issuer following such exercise. Securities are held by Winklevoss Treasury Investments, LLC ("WTI"), which is a wholly owned subsidiary of Winklevoss Capital Fund, LLC ("WCF"). Winklevoss Capital Management, LLC ("WCM") is the manager of WCF and Tyler Winklevoss and Cameron Winklevoss are the co-founders and managers of WCM. Each of the Reporting Persons disclaims beneficial ownership of these securities except to the extent of its or his pecuniary interest therein.
FAQ
What insider transaction was reported for Cypherpunk Technologies (CYPH) on this Form 4?
The filing reports an assignment of warrants to purchase Cypherpunk Technologies common stock by Winklevoss-affiliated entities, described as for no additional consideration.
What is the exercise price and term of the reported Cypherpunk warrants?
The warrants have an exercise price of $0.5335 per share and are exercisable immediately, with an expiration date of 10/08/2035.
How many Cypherpunk warrants do the reporting persons beneficially own after the transaction?
After the reported assignment, the filing shows 57,182,378 warrants beneficially owned indirectly through Winklevoss Treasury Investments, LLC.
Is there a limit on how much of Cypherpunk Technologies the warrants can control?
Yes. The warrants include a 19.99% beneficial ownership limitation, preventing exercises that would cause the reporting group to exceed 19.99% of Cypherpunk’s outstanding common stock after exercise.
Who are the entities involved in holding these Cypherpunk warrants?
The securities are held by Winklevoss Treasury Investments, LLC, a wholly owned subsidiary of Winklevoss Capital Fund, LLC, which is managed by Winklevoss Capital Management, LLC, associated with Tyler and Cameron Winklevoss.
Does this Form 4 indicate a purchase or sale of Cypherpunk common stock itself?
No, the report concerns derivative securities (warrants) and describes an assignment for no additional consideration, not an open-market purchase or sale of common shares.