Home/Filings/4/0001019056-24-000283

4//SEC Filing

Navy Capital Green Management Partners LLC 4

Accession 0001019056-24-000283

CIK 0001522222other

View on SEC.gov Company Profile

Filed

Sep 11, 8:00 PM ET

Accepted

Sep 12, 3:17 PM ET

Size

62.8 KB

Accession

0001019056-24-000283

Insider Transaction Report

Form 4

Period: 2024-09-10

CLS Holdings USA, Inc.CLSH

Navy Capital Green Management LLC

10% Owner

Transactions

Other
ConvertibleNotes
2024-09-10$2000000.00/sh→ 0 total(indirect: See Footnotes)
Exercise: $0.07From: 2023-12-21Exp: 2028-01-31→ Common Stock (2,065,419 underlying)
Sale
Common Stock
2024-09-10$0.04/sh−15,488,901$599,420→ 0 total(indirect: See Footnotes)
Other
Warrant
2024-09-10$2000000.00/sh→ 0 total(indirect: See Footnotes)
Exercise: $0.10From: 2023-12-29Exp: 2026-12-29→ Common Stock (6,177,216 underlying)
Other
Convertible Notes
2024-09-10$2000000.00/sh→ 0 total(indirect: See Footnotes)
Exercise: $0.07From: 2018-10-31Exp: 2028-01-31→ Common Stock (8,035,728 underlying)
Other
Convertible Notes
2024-09-10$2000000.00/sh→ 0 total(indirect: See Footnotes)
Exercise: $0.07From: 2018-10-31Exp: 2028-01-31→ Common Stock (40,404,757 underlying)

Navy Capital Green Management Partners LLC

10% OwnerOther

Transactions

Other
ConvertibleNotes
2024-09-10$2000000.00/sh→ 0 total(indirect: See Footnotes)
Exercise: $0.07From: 2023-12-21Exp: 2028-01-31→ Common Stock (2,065,419 underlying)
Other
Convertible Notes
2024-09-10$2000000.00/sh→ 0 total(indirect: See Footnotes)
Exercise: $0.07From: 2018-10-31Exp: 2028-01-31→ Common Stock (40,404,757 underlying)
Sale
Common Stock
2024-09-10$0.04/sh−15,488,901$599,420→ 0 total(indirect: See Footnotes)
Other
Convertible Notes
2024-09-10$2000000.00/sh→ 0 total(indirect: See Footnotes)
Exercise: $0.07From: 2018-10-31Exp: 2028-01-31→ Common Stock (8,035,728 underlying)
Other
Warrant
2024-09-10$2000000.00/sh→ 0 total(indirect: See Footnotes)
Exercise: $0.10From: 2023-12-29Exp: 2026-12-29→ Common Stock (6,177,216 underlying)

Navy Capital Green Co-Invest Fund, LLC

10% Owner

Transactions

Other
Convertible Notes
2024-09-10$2000000.00/sh→ 0 total(indirect: See Footnotes)
Exercise: $0.07From: 2018-10-31Exp: 2028-01-31→ Common Stock (40,404,757 underlying)
Sale
Common Stock
2024-09-10$0.04/sh−15,488,901$599,420→ 0 total(indirect: See Footnotes)
Other
Warrant
2024-09-10$2000000.00/sh→ 0 total(indirect: See Footnotes)
Exercise: $0.10From: 2023-12-29Exp: 2026-12-29→ Common Stock (6,177,216 underlying)
Other
Convertible Notes
2024-09-10$2000000.00/sh→ 0 total(indirect: See Footnotes)
Exercise: $0.07From: 2018-10-31Exp: 2028-01-31→ Common Stock (8,035,728 underlying)
Other
ConvertibleNotes
2024-09-10$2000000.00/sh→ 0 total(indirect: See Footnotes)
Exercise: $0.07From: 2023-12-21Exp: 2028-01-31→ Common Stock (2,065,419 underlying)

Navy Capital Green Fund, LP

10% OwnerOther

Transactions

Sale
Common Stock
2024-09-10$0.04/sh−15,488,901$599,420→ 0 total(indirect: See Footnotes)
Other
Convertible Notes
2024-09-10$2000000.00/sh→ 0 total(indirect: See Footnotes)
Exercise: $0.07From: 2018-10-31Exp: 2028-01-31→ Common Stock (40,404,757 underlying)
Other
Convertible Notes
2024-09-10$2000000.00/sh→ 0 total(indirect: See Footnotes)
Exercise: $0.07From: 2018-10-31Exp: 2028-01-31→ Common Stock (8,035,728 underlying)
Other
ConvertibleNotes
2024-09-10$2000000.00/sh→ 0 total(indirect: See Footnotes)
Exercise: $0.07From: 2023-12-21Exp: 2028-01-31→ Common Stock (2,065,419 underlying)
Other
Warrant
2024-09-10$2000000.00/sh→ 0 total(indirect: See Footnotes)
Exercise: $0.10From: 2023-12-29Exp: 2026-12-29→ Common Stock (6,177,216 underlying)

Kaden John

10% Owner

Transactions

Other
Convertible Notes
2024-09-10$2000000.00/sh→ 0 total(indirect: See Footnotes)
Exercise: $0.07From: 2018-10-31Exp: 2028-01-31→ Common Stock (40,404,757 underlying)
Other
Convertible Notes
2024-09-10$2000000.00/sh→ 0 total(indirect: See Footnotes)
Exercise: $0.07From: 2018-10-31Exp: 2028-01-31→ Common Stock (8,035,728 underlying)
Sale
Common Stock
2024-09-10$0.04/sh−15,488,901$599,420→ 0 total(indirect: See Footnotes)
Other
Warrant
2024-09-10$2000000.00/sh→ 0 total(indirect: See Footnotes)
Exercise: $0.10From: 2023-12-29Exp: 2026-12-29→ Common Stock (6,177,216 underlying)
Other
ConvertibleNotes
2024-09-10$2000000.00/sh→ 0 total(indirect: See Footnotes)
Exercise: $0.07From: 2023-12-21Exp: 2028-01-31→ Common Stock (2,065,419 underlying)

Stiefel Sean

10% Owner

Transactions

Other
Convertible Notes
2024-09-10$2000000.00/sh→ 0 total(indirect: See Footnotes)
Exercise: $0.07From: 2018-10-31Exp: 2028-01-31→ Common Stock (40,404,757 underlying)
Other
ConvertibleNotes
2024-09-10$2000000.00/sh→ 0 total(indirect: See Footnotes)
Exercise: $0.07From: 2023-12-21Exp: 2028-01-31→ Common Stock (2,065,419 underlying)
Sale
Common Stock
2024-09-10$0.04/sh−15,488,901$599,420→ 0 total(indirect: See Footnotes)
Other
Convertible Notes
2024-09-10$2000000.00/sh→ 0 total(indirect: See Footnotes)
Exercise: $0.07From: 2018-10-31Exp: 2028-01-31→ Common Stock (8,035,728 underlying)
Other
Warrant
2024-09-10$2000000.00/sh→ 0 total(indirect: See Footnotes)
Exercise: $0.10From: 2023-12-29Exp: 2026-12-29→ Common Stock (6,177,216 underlying)

Navy Capital Green Co-Invest Partners LLC

10% OwnerOther

Transactions

Other
Convertible Notes
2024-09-10$2000000.00/sh→ 0 total(indirect: See Footnotes)
Exercise: $0.07From: 2018-10-31Exp: 2028-01-31→ Common Stock (40,404,757 underlying)
Other
ConvertibleNotes
2024-09-10$2000000.00/sh→ 0 total(indirect: See Footnotes)
Exercise: $0.07From: 2023-12-21Exp: 2028-01-31→ Common Stock (2,065,419 underlying)
Sale
Common Stock
2024-09-10$0.04/sh−15,488,901$599,420→ 0 total(indirect: See Footnotes)
Other
Convertible Notes
2024-09-10$2000000.00/sh→ 0 total(indirect: See Footnotes)
Exercise: $0.07From: 2018-10-31Exp: 2028-01-31→ Common Stock (8,035,728 underlying)
Other
Warrant
2024-09-10$2000000.00/sh→ 0 total(indirect: See Footnotes)
Exercise: $0.10From: 2023-12-29Exp: 2026-12-29→ Common Stock (6,177,216 underlying)

GULATI CHETAN

10% Owner

Transactions

Other
Warrant
2024-09-10$2000000.00/sh→ 0 total(indirect: See Footnotes)
Exercise: $0.10From: 2023-12-29Exp: 2026-12-29→ Common Stock (6,177,216 underlying)
Sale
Common Stock
2024-09-10$0.04/sh−15,488,901$599,420→ 0 total(indirect: See Footnotes)
Other
Convertible Notes
2024-09-10$2000000.00/sh→ 0 total(indirect: See Footnotes)
Exercise: $0.07From: 2018-10-31Exp: 2028-01-31→ Common Stock (40,404,757 underlying)
Other
Convertible Notes
2024-09-10$2000000.00/sh→ 0 total(indirect: See Footnotes)
Exercise: $0.07From: 2018-10-31Exp: 2028-01-31→ Common Stock (8,035,728 underlying)
Other
ConvertibleNotes
2024-09-10$2000000.00/sh→ 0 total(indirect: See Footnotes)
Exercise: $0.07From: 2023-12-21Exp: 2028-01-31→ Common Stock (2,065,419 underlying)

Footnotes (4)

[F1]This Form 4 is being filed by Navy Capital Green Management, LLC (the "Investment Manager") on behalf of itself and Navy Capital Green Management Partners, LLC ("NCG"), Navy Capital Green Fund, LP (the "Fund"), Navy Capital Green Co-Invest Fund, LLC (the "Co-Investment Fund"), Navy Capital Green Co-Invest Partners, LLC ("NCGP"), Navy Capital Green Holdings II, LLC ("Holdings" and, together with the Fund and the Co-Investment Fund, "Navy Funds"), John Kaden, Chetan Gulati and Sean Stiefel. John Kaden, Chetan Gulati and Sean Stiefel are the managers of the Investment Manager, NCG, and NCGP. NCG is the general partner of the Fund and NCGP is the manager of the Co-Investment Fund.
[F2]On September 10, 2024 the Issuer entered into a Redemption Agreement (the "Redemption Agreement") with the Navy Funds to redeem (i) the Navy Funds' shares of the Issuer's common stock (the "Shares"); (ii) The Navy Funds' warrants to purchase the Issuer's common stock (the "Warrants"); (iii) The Fund's right, title and interest to (x) the Third Amended and Restated Debenture, dated December 29, 2023, between the Fund and the Issuer (the "Parties") (the "Third Amended and Restated Debenture"), and (y) the Second Amended and Restated Unsecured Debenture No. CLSH2023-AD6, dated December 31, 2023, between the Parties (the "Second Amended and Restated Unsecured Debenture" together with the Third Amended and Restated Debenture, the "Debentures");
[F3]Continuance) and (iv) the Co-Investment Fund's right title, and interest in the Third Amended and Restated Debenture, dated December 29, 2023, between the Issuer and the Co-Investment Fund (the "Co-Investment Debenture" together with the Shares, the Warrants and the Debentures, the "Redeemed Securities"). The repurchase price for all of the Warrants and the Debentures was collectively $2,000,000. The repurchase price for all of the Shares was $600,000. The Redemption Agreement aimed to, among other things, redeem the entirety of the Navy Funds' rights, titles and interests to the Redeemed Securities.
[F4]In accordance with Instruction 4(b)(iv) of Form 4, the entire amount of the Issuer's derivative securities held by the Fund, Co-Investment Fund and Holdings is reported herein. Each of the Investment Manager, NCG, NCGP, Holdings, John Kaden, Chetan Gulati and Sean Stiefel disclaims, for purposes of Section 16 of the Securities Exchange Act of 1934, beneficial ownership of such securities, except to the extent of his/its indirect pecuniary interest therein, and this report shall not be deemed an admission that either the Investment Manager, NCG, NCGP, Holdings, John Kaden, Chetan Gulati and Sean Stiefel are the beneficial owner of such securities for purposes of Section 16 or for any other purposes.

Documents

2 files

Issuer

CLS Holdings USA, Inc.

CIK 0001522222

→

Entity typeother

IncorporatedNY

Related Parties

filerCIK 0001764864

Filing Metadata

Form type: 4
Filed: Sep 11, 8:00 PM ET
Accepted: Sep 12, 3:17 PM ET
Size: 62.8 KB

View on SEC.gov