4//SEC Filing
Hastings Jeff 4
Accession 0000899243-18-025482
CIK 0001514732other
Filed
Sep 27, 8:00 PM ET
Accepted
Sep 28, 2:18 PM ET
Size
7.2 KB
Accession
0000899243-18-025482
Insider Transaction Report
Form 4
Hastings Jeff
DirectorExecutive Chairman10% Owner
Transactions
- Award
6.00% Senior Secured Convertible Notes due 2023
2018-09-26+1,000,000→ 1,000,000 totalFrom: 2018-09-26Exp: 2023-09-22→ Common Stock
Footnotes (2)
- [F1]The 6.00% Senior Secured Convertible Notes due 2023 (the "Convertible Notes") were issued by SAExploration Holdings, Inc. (the "Company") to the reporting person on September 26, 2018. The reporting person purchased $1,000,000 in principal amount of Convertible Notes. The Convertible Notes are convertible into shares of the Company's common stock, par value $0.0001 per share (the "Common Stock"), at an initial rate of 173.91304 shares of Common Stock per $1,000 principal amount of Convertible Notes. The rate of conversion is subject to adjustments customary for securities of this type. The reporting person may convert at any time from the date of issuance to the close of business on the second business day immediately preceding the maturity date of September 26, 2023; however, conversion of the Convertible Notes is subject to the Company's right to select to settle its conversion obligation in cash or in shares of Common Stock.
- [F2](continued from footnote 1) Furthermore, the reporting person's conversion of the Convertible Notes is subject to the Company's fulfilment of its covenant in the Note Purchase Agreement, dated as of September 26, 2018, by and among the Company, the guarantors thereto and the purchasers thereto, including the reporting person, whereby the Company must use its commercially reasonable efforts to solicit the written consent of the holders of a majority of the outstanding shares of Common Stock to increase the total number of authorized shares of the Company's Common Stock to permit the conversion in full of the Convertible Notes.
Documents
Issuer
SAExploration Holdings, Inc.
CIK 0001514732
Entity typeother
Related Parties
1- filerCIK 0001580993
Filing Metadata
- Form type
- 4
- Filed
- Sep 27, 8:00 PM ET
- Accepted
- Sep 28, 2:18 PM ET
- Size
- 7.2 KB