4//SEC Filing
WESCHLER R TED 4
Accession 0001209191-07-037950
CIK 0001016607other
Filed
Jun 18, 8:00 PM ET
Accepted
Jun 19, 9:52 PM ET
Size
24.1 KB
Accession
0001209191-07-037950
Insider Transaction Report
Form 4
WESCHLER, R. TED
Director10% Owner
Transactions
- Expiration (Short)
Common Stock Warrant (right to buy)
2007-06-15−1→ 0 total(indirect: See Footnote)Exercise: $3.00From: 2004-04-25Exp: 2009-04-25→ Common Stock (1,428,571 underlying) - Purchase
Common Stock Warrant (right to buy)
2007-06-15+1→ 1 total(indirect: See Footnote)Exercise: $2.10From: 2007-06-15Exp: 2009-04-25→ Common Stock (2,040,734 underlying) - Purchase
Series A Convertible Preferred Stock
2007-06-15+5,000→ 5,000 total(indirect: See Footnote)Exercise: $1.50→ Common Stock (3,333,333 underlying)
PENINSULA INVESTMENT PARTNERS, L.P.
10% Owner
Transactions
- Purchase
Common Stock Warrant (right to buy)
2007-06-15+1→ 1 total(indirect: See Footnote)Exercise: $2.10From: 2007-06-15Exp: 2009-04-25→ Common Stock (2,040,734 underlying) - Expiration (Short)
Common Stock Warrant (right to buy)
2007-06-15−1→ 0 total(indirect: See Footnote)Exercise: $3.00From: 2004-04-25Exp: 2009-04-25→ Common Stock (1,428,571 underlying) - Purchase
Series A Convertible Preferred Stock
2007-06-15+5,000→ 5,000 total(indirect: See Footnote)Exercise: $1.50→ Common Stock (3,333,333 underlying)
PENINSULA CAPITAL ADVISORS LLC
10% Owner
Transactions
- Expiration (Short)
Common Stock Warrant (right to buy)
2007-06-15−1→ 0 total(indirect: See Footnote)Exercise: $3.00From: 2004-04-25Exp: 2009-04-25→ Common Stock (1,428,571 underlying) - Purchase
Common Stock Warrant (right to buy)
2007-06-15+1→ 1 total(indirect: See Footnote)Exercise: $2.10From: 2007-06-15Exp: 2009-04-25→ Common Stock (2,040,734 underlying) - Purchase
Series A Convertible Preferred Stock
2007-06-15+5,000→ 5,000 total(indirect: See Footnote)Exercise: $1.50→ Common Stock (3,333,333 underlying)
Footnotes (7)
- [F1]The transactions reported involve the amendment of outstanding warrants in connection with an issuance of securities that results in an anti-dilution adjustment to the number of shares of Common Stock exercisable under, and the per share exercise price of such shares under, the warrants. The amendment to the warrants is reported as a cancellation of an outstanding warrant and acquisition of a new warrant.
- [F2]These securities are held in the account of Peninsula Investment Partners, L.P. (the "Partnership") for which Peninsula Capital Advisors, LLC ("Peninsula Advisors") serves as investment manager. Mr. R. Ted Weschler, a director of the Issuer, is the sole managing member of Peninsula Advisors. Peninsula Advisors and Mr. Weschler may be deemed to beneficially own the securities held by the Partnership by virtue of Peninsula Advisor?s position as investment manager of the Partnership and Mr. Weschler?s status as the managing member of Peninsula Advisors. Collectively, R. Ted Weschler, Peninsula Advisors and the Partnership are the Reporting Persons. Each Reporting Person disclaims beneficial ownership of the reported securities except to the extent of his or its pecuniary interest therein, and this report shall not be deemed an admission that such Reporting Person is the beneficial owner of the securities for purposes of Section 16 of the Exchange Act or any other purpose.
- [F3]The Series A Convertible Preferred Stock is convertible into Common Stock of the Issuer at an initial conversion rate of 666.6667 shares of Common Stock for each share of Series A Convertible Preferred Stock. The number of shares of Common Stock issuable upon conversion of the Series A Convertible Preferred Stock is subject to adjustment based on changes in the conversion price, which is $1.50 initially, in the event of stock splits and similar events, and in the event of stock issuances below either the market price or the conversion price (other than certain customary exceptions). The number of shares issuable upon conversion of a share of Series A Convertible Preferred Stock at any time will be determined by dividing the stated value of such share, $1,000, by the conversion price then in effect.
- [F4]Immediately exercisable; provided that the number of shares of Common Stock issuable upon conversion of the Series A Convertible Preferred Stock and exercise of the Warrants issued to all purchasers in the offering is limited to 19.9% of the number of shares of Common Stock of the Issuer that were outstanding prior to the issuance of such securities until the Issuer?s shareholders approve issuance of shares of Common Stock in excess of such exchange cap.
- [F5]The Series A Convertible Preferred Stock has no expiration date.
- [F6]The purchase price for a unit consisting of one share of Series A Convertible Preferred Stock and a warrant to purchase 50% of the shares of Common Stock issuable upon conversion of such share of Series A Convertible Preferred Stock was $1,000.
- [F7]The number of shares of Common Stock issuable upon exercise of the Warrant and the exercise price per share of Common Stock subject to the Warrant are subject to adjustment in the event of stock splits and similar events, and in the event of stock issuances below either the market price or exercise price (other than certain customary exceptions).
Documents
Issuer
WILSONS THE LEATHER EXPERTS INC
CIK 0001016607
Entity typeother
Related Parties
1- filerCIK 0001130334
Filing Metadata
- Form type
- 4
- Filed
- Jun 18, 8:00 PM ET
- Accepted
- Jun 19, 9:52 PM ET
- Size
- 24.1 KB