0001437749-15-022596.txt : 20151221 0001437749-15-022596.hdr.sgml : 20151221 20151221144246 ACCESSION NUMBER: 0001437749-15-022596 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 3 FILED AS OF DATE: 20151221 DATE AS OF CHANGE: 20151221 GROUP MEMBERS: ATKINSON FAMILY REVOCABLE TRUST DATED 8/26/2013 GROUP MEMBERS: CHARLES SCHWAB & CO. INC. FOR THE BENEFIT OF JAMES GREGORY A SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: VIVEVE MEDICAL, INC. CENTRAL INDEX KEY: 0000879682 STANDARD INDUSTRIAL CLASSIFICATION: ELECTROMEDICAL & ELECTROTHERAPEUTIC APPARATUS [3845] IRS NUMBER: 043153858 STATE OF INCORPORATION: B0 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-42378 FILM NUMBER: 151299210 BUSINESS ADDRESS: STREET 1: 150 COMMERCIAL STREET CITY: SUNNYVALE STATE: CA ZIP: 94086 BUSINESS PHONE: 4085301900 MAIL ADDRESS: STREET 1: 150 COMMERCIAL STREET CITY: SUNNYVALE STATE: CA ZIP: 94086 FORMER COMPANY: FORMER CONFORMED NAME: PLC SYSTEMS INC DATE OF NAME CHANGE: 19930328 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Atkinson James G. CENTRAL INDEX KEY: 0001633167 FILING VALUES: FORM TYPE: SC 13D/A MAIL ADDRESS: STREET 1: 150 COMMERCIAL STREET CITY: SUNNYVALE STATE: CA ZIP: 94086 SC 13D/A 1 atki20151218_sc13da.htm SCHEDULE 13D/A atki20151218_sc13da.htm

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

SCHEDULE 13D

 

Under the Securities Exchange Act of 1934

(Amendment No. 2)*

 

VIVEVE MEDICAL, INC.

(Name of Issuer)

 

Common Stock

(Title of Securities)

 

92852W105

(CUSIP Number)

 

James Atkinson

c/o Viveve Medical, Inc.

150 Commercial Street

Sunnyvale, CA 94086

(408) 530-1900

(Name, Address and Telephone Number of Person Authorized to

Receive Notices and Communications)

 

December 16, 2015

(Date of Event Which Requires Filing of This Statement)

  

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), Rule 13d-1(f) or Rule 13d-1(g), check the following box.[ ]

 

*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

 
 

 

 

CUSIP No. 92852W105  

 

 

 

     

1.

Names of Reporting Persons

  Charles Schwab & Co. Inc. for the benefit of
  James Gregory Atkinson IRA Contributory Account# 1125-5459
  IRS Identification Nos. of Above Persons (Entities Only)

 

 

 

     

2.

Check the Appropriate Box if a Member of a Group (See Instructions)

   
  (a) ☒
   
  (b) ☐
       

3.

SEC Use Only

 

 

 

     

4.

Source of Funds (See Instructions)

AF    

5.

Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) ☐

6.

Citizenship or Place of Organization

Colorado    

Number of Shares Beneficially Owned by Each Reporting Person With:

 

 

 

     

7.

Sole Voting Power 

2,669,884

 

 

 

     

8.

Shared Voting Power

3,916,079 (1)

 

 

 

     

9.

Sole Dispositive Power

2,669,884

 

 

 

     

10.

Shared Dispositive Power

3,916,079 (1)

 

 

 

     

11.

Aggregate Amount Beneficially Owned by Each Reporting Person

3,916,079 (1)  

 

 

 

     

12.

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)

 

 

 

     

13.

Percent of Class Represented by Amount in Row (11) 6.6% (2)

 

 

 

       

14.

Type of Reporting Person (See Instructions)

OO    

 

 

 

     

(1) By virtue of being a beneficiary of the James Gregory Atkinson IRA Contributory Account (the “IRA”) and a co-trustee of the Atkinson Family Trust dated 8/26/2013 (the “Trust”), Mr. Atkinson shares voting and dispositive power over the 2,669,884 shares of common stock held by the IRA and the 784,780 shares of common stock held by the Trust. Mr. Atkinson, individually, also holds (i) 30,600 shares of common stock; (ii) a warrant to purchase 217,733 shares of common stock that was granted on May 12, 2015 and exercisable on that date; (iii) a warrant to purchase 50,000 shares of common stock that was granted on December 16, 2015 and exercisable on that date; (iv) an option to purchase 535,000 shares of common stock, of which 133,750 shares may be purchased within 60 days of the date of this report; and (v) an option to purchase 704,000 shares of common stock, of which 29,332 shares may be purchased within 60 days of the date of this report, all of which are included in this amount.

 

(2) Based on 59,919,025 shares of common stock outstanding as of December 14, 2015 as reported in the Company’s registration statement on Form S-1 as filed with the Securities and Exchange Commission on December 15, 2015.

 

 
 

 

 

CUSIP No. 92852W105  

 

 

 

     

1.

Names of Reporting Persons

  IRS Identification Nos. of Above Persons (Entities Only)
  Atkinson Family Revocable Trust Dated 8/26/2013

 

 

 

     

2.

Check the Appropriate Box if a Member of a Group (See Instructions)

   
  (a) ☒
   
  (b) ☐
       

3.

SEC Use Only

 

 

 

     

4.

Source of Funds (See Instructions)

AF    

5.

Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) ☐

6.

Citizenship or Place of Organization

Colorado    

Number of Shares Beneficially Owned by Each Reporting Person With:

 

 

 

     

7.

Sole Voting Power 

784,780

 

 

 

     

8.

Shared Voting Power

3,916,079 (1)

 

 

 

     

9.

Sole Dispositive Power

784,780

 

 

 

     

10.

Shared Dispositive Power

3,916,079 (1)

 

 

 

     

11.

Aggregate Amount Beneficially Owned by Each Reporting Person

3,916,079 (1)  

 

 

 

     

12.

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)

 

 

 

     

13.

Percent of Class Represented by Amount in Row (11) 6.6% (2)

 

 

 

       

14.

Type of Reporting Person (See Instructions)

OO    

 

 

 

     

(1) By virtue of being a beneficiary of the James Gregory Atkinson IRA Contributory Account (the “IRA”) and a co-trustee of the Atkinson Family Trust dated 8/26/2013 (the “Trust”), Mr. Atkinson shares voting and dispositive power over the 2,669,884 shares of common stock held by the IRA and the 784,780 shares of common stock held by the Trust. Mr. Atkinson, individually, also holds (i) 30,600 shares of common stock; (ii) a warrant to purchase 217,733 shares of common stock that was granted on May 12, 2015 and exercisable on that date; (iii) a warrant to purchase 50,000 shares of common stock that was granted on December 16, 2015 and exercisable on that date; (iv) an option to purchase 535,000 shares of common stock, of which 133,750 shares may be purchased within 60 days of the date of this report; and (v) an option to purchase 704,000 shares of common stock, of which 29,332 shares may be purchased within 60 days of the date of this report, all of which are included in this amount. 

 

(2) Based on 59,919,025 shares of common stock outstanding as of December 14, 2015 as reported in the Company’s registration statement on Form S-1 as filed with the Securities and Exchange Commission on December 15, 2015.

 

 
 

 

 

CUSIP No. 92852W105  

 

 

 

     

1.

Names of Reporting Persons

  IRS Identification Nos. of Above Persons (Entities Only)
  James Atkinson

 

 

 

     

2.

Check the Appropriate Box if a Member of a Group (See Instructions)

   
  (a) ☒
   
  (b) ☐
       

3.

SEC Use Only

 

 

 

     

4.

Source of Funds (See Instructions)

PF    

5.

Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) ☐

6.

Citizenship or Place of Organization

Colorado    

Number of Shares Beneficially Owned by Each Reporting Person With:

 

 

 

     

7.

Sole Voting Power 

3,916,079 (1)

 

 

 

     

8.

Shared Voting Power

3,916,079 (1)

 

 

 

     

9.

Sole Dispositive Power

3,916,079 (1)

 

 

 

     

10.

Shared Dispositive Power

3,916,079 (1)

 

 

 

     

11.

Aggregate Amount Beneficially Owned by Each Reporting Person

3,916,079 (1)  

 

 

 

     

12.

Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions)

 

 

 

     

13.

Percent of Class Represented by Amount in Row (11) 6.6% (2)

 

 

 

       

14.

Type of Reporting Person (See Instructions)

IN    

 

 

 

     

(1) By virtue of being a beneficiary of the James Gregory Atkinson IRA Contributory Account (the “IRA”) and a co-trustee of the Atkinson Family Trust dated 8/26/2013 (the “Trust”), Mr. Atkinson shares voting and dispositive power over the 2,669,884 shares of common stock held by the IRA and the 784,780 shares of common stock held by the Trust. Mr. Atkinson, individually, also holds (i) 30,600 shares of common stock; (ii) a warrant to purchase 217,733 shares of common stock that was granted on May 12, 2015 and exercisable on that date; (iii) a warrant to purchase 50,000 shares of common stock that was granted on December 16, 2015 and exercisable on that date; (iv) an option to purchase 535,000 shares of common stock, of which 133,750 shares may be purchased within 60 days of the date of this report; and (v) an option to purchase 704,000 shares of common stock, of which 29,332 shares may be purchased within 60 days of the date of this report, all of which are included in this amount.

 

(2) Based on 59,919,025 shares of common stock outstanding as of December 14, 2015 as reported in the Company’s registration statement on Form S-1 as filed with the Securities and Exchange Commission on December 15, 2015.

 

 
 

 

 

Item 1.          Security and Issuer.

 

This Amendment No. 2 to Schedule 13D (“Amendment 2”) filed by the James Gregory Atkinson IRA Contributory Account# 1125-5459 (the “IRA”), the Atkinson Family Revocable Trust Dated 8/26/2013 (the “Trust”) and James Atkinson (“Mr. Atkinson”) amends and supplements the statement on Schedule 13D originally filed on May 22, 2015 (the “Original Report”), as amended on December 3, 2015 (“Amendment 1”) relating to the common stock, no par value per share (the “Common Stock”) of Viveve Medical, Inc. (the “Issuer”) having its principal executive office at 150 Commercial Street, Sunnyvale, California 94086. Amendment 2 is being filed to report the issuance of a warrant for the purchase of 50,000 shares of the Issuer’s Common Stock and an incentive stock option for the purchase of 704,000 shares of the Issuer’s Common Stock (of which 29,332 shares of Common Stock may be purchased during the 60 day period following this report) to James Atkinson on December 16, 2015.

 

Item 4.          Purpose of Transaction.

 

The following paragraph is added to Item 4 of the Original Report:

 

On December 16, 2015 the Issuer’s Board of Directors granted to Mr. Atkinson a 10-year warrant for the purchase of 50,000 shares of Common Stock at a price of $0.70 per share and an option with a term of 10 years to purchase 704,000 Common Stock at an exercise price of $0.75 per share, of which 29,332 shares of Common Stock may be purchased within 60 days of the date of this report. The warrant and the option were granted to the Reporting Person as part of his compensation as the Issuer’s President and Chief Business Officer.

 

Item 5.          Interest in Securities of the Issuer.

 

The following paragraphs (a) and (c) are added to Item 5 of the Original Report. 

 

(a) On December 16, 2015, the IRA was the record owner of 2,669,884 shares of Common Stock, which comprised approximately 4.5% of the Issuer’s outstanding Common Stock, the Trust was the record owner of the 784,780 shares of Common Stock, which comprised approximately 1.3% of the Issuer’s outstanding Common Stock and Mr. Atkinson was the beneficial owner of 461,415 shares of Common Stock comprised of (i) 30,600 shares of Common Stock purchased by Mr. Atkinson for his minor child; (ii) 217,733 shares of Common Stock underlying the warrant issued to Mr. Atkinson on May 12, 2015; (iii) 50,000 shares of Common Stock underlying the warrant issued to Mr. Atkinson on December 16, 2015; (iv) 133,750 shares of Common Stock underlying an option for 535,000 shares of Common Stock that was issued to Mr. Atkinson on February 4, 2015; and (v) 29,332 shares of Common Stock underlying the option for 704,000 shares of Common Stock that was issued to Mr. Atkinson on December 16, 2015, all of which together comprised approximately 0.77% of the Issuer’s outstanding Common Stock. The number of shares of Common Stock outstanding on December 14, 2015 as reported on the Issuer’s registration statement Form S-1 which was filed with the Securities and Exchange Commission on December 15, 2015. was 59,919,025.

 

(c)     Except as set forth in Item 3 above and in Amendment 1, none of Mr. Atkinson, the Trust or the IRA has effected any transaction in the Common Stock during the last 60 days.

 

 
 

 

 

Item 6.          Contracts, Arrangements, Undertakings or Relationships with Respect to Securities of the Issuer.

 

The following paragraph is added to Item 6 of the Original Report:

 

On December 16, 2015 the Issuer issued to Mr. Atkinson a Common Stock Purchase Warrant for the purchase of 50,000 shares of Common Stock at an exercise price of $0.70 per share. The term of the warrant is 10 years. The warrant is immediately exercisable. Also on December 16, 2015, the Issuer issued to Mr. Atkinson an option to purchase 704,000 shares of Common Stock at a price of $0.75 per share. The right to purchase the Common Stock vests over a period of 48 months at the rate of 1/48th per month.

 

Item 7.          Material to be Filed as Exhibits.

 

Exhibit 99.1     Joint Filing Agreement, among the IRA, the Trust, and Mr. Atkinson*

 

Exhibit 99.2     Common Stock Purchase Warrant*

 

Exhibit 99.3     Option to Purchase Common Stock (1)

 


*Filed herewith.

(1) To be filed by amendment.

 

 
 

 

 

SIGNATURE

 

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

 

Date: December 18, 2015

 

CHARLES SCHWAB & CO. INC. FOR THE BENEFIT OF JAMES GREGORY ATKINSON IRA CONTRIBUTORY

Account# 1125-5459

 

 

 

By:

/s/ James Atkinson 

 

By:

James Atkinson, Beneficiary

 

 

ATKINSON FAMILY REVOCABLE TRUST DATED 8/26/2013

 

 

 

By:

/s/ James Atkinson  

 

 

James Atkinson, Trustee

 

 

 

/s/ James Atkinson  

 

James Atkinson, an individual

 

EX-99.1 2 ex99-1.htm EXHIBIT 99.1 atki20151218_sc13da.htm

EXHIBIT 99.1

 

Agreement of Joint Filing

 

The undersigned hereby agree that a single Schedule 13D (or any amendment thereto) relating to the Common Stock of Viveve Medical, Inc. shall be filed on behalf of each of the undersigned and that this Agreement shall be filed as an exhibit to such Schedule 13D.

 

Date: December 18, 2015

 

CHARLES SCHWAB & CO. INC. FOR THE BENEFIT OF JAMES GREGORY ATKINSON IRA CONTRIBUTORY

Account# 1125-5459

 

 

 

By:

/s/ James Atkinson  

 

By:

James Atkinson, Beneficiary

 

 

ATKINSON FAMILY REVOCABLE TRUST DATED 8/26/2013

 

 

By:

/s/ James Atkinson  

 

 

James Atkinson, Trustee

 

 

 

/s/ James Atkinson  

 

James Atkinson, an individual

 

EX-99.2 3 ex99-2.htm EXHIBIT 99.2 ex99-2.htm

Exhibit 99.2

 

THESE SECURITIES AND THE UNDERLYING SHARES OF COMMON STOCK HAVE NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS AS EVIDENCED BY A LEGAL OPINION OF COUNSEL TO THE TRANSFEROR TO SUCH EFFECT, THE SUBSTANCE OF WHICH SHALL BE REASONABLY ACCEPTABLE TO THE COMPANY. THESE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT WITH A REGISTERED BROKER-DEALER OR OTHER LOAN WITH A FINANCIAL INSTITUTION THAT IS AN “ACCREDITED INVESTOR” AS DEFINED IN RULE 501(a) UNDER THE SECURITIES ACT.

 

COMMON STOCK PURCHASE WARRANT

 

Issue Date: December 16, 2015

 

To Purchase 50,000 Shares of Common Stock of

 

VIVEVE MEDICAL, INC.

 

THIS COMMON STOCK PURCHASE WARRANT CERTIFIES that, for value received, Jim Atkinson (the “Holder”), is entitled, upon the terms and subject to the limitations on exercise and the conditions hereinafter set forth, at any time on or after the Issue Date (the “Initial Exercise Date”) and on or prior to the close of business on the earlier of the tenth anniversary of the Issue Date (the “Termination Date”) but not thereafter, to subscribe for and purchase from Viveve Medical, Inc., a Yukon Territory corporation (the “Company”), up to an aggregate of 50,000 shares (the “Warrant Shares”) of the Company’s common stock, no par value (the “Common Stock”) in accordance with Section 3 or Section 4 herein. The purchase price of one share of Common Stock (the “Exercise Price”) under this Warrant shall be $0.70 subject to adjustment hereunder. The Exercise Price and the number of Warrant Shares for which the Warrant is exercisable shall be subject to adjustment as provided herein.

 

 
 

 

 

1.     Title to Warrant. Prior to the Termination Date, this Warrant and all rights hereunder are non-transferable.

 

2.     Authorization of Shares. The Company covenants that all Warrant Shares which may be issued upon the exercise of the purchase rights represented by this Warrant will, upon exercise of the purchase rights represented by this Warrant, be duly authorized, validly issued, fully paid and nonassessable and free from all taxes, liens and charges in respect of the issue thereof (other than taxes in respect of any transfer occurring contemporaneously with such issue).

 

3.     Exercise of Warrant. Exercise of the purchase rights represented by this Warrant may be made, in whole or in part, at any time or times on or after the Initial Exercise Date and on or before the Termination Date by the surrender of this Warrant and the Notice of Exercise Form annexed hereto duly executed, at the office of the Company (or such other office or agency of the Company as it may designate by notice in writing to the registered Holder at the address of such Holder appearing on the books of the Company). Upon payment of the Exercise Price of the shares thereby purchased by wire transfer or cashier’s check drawn on a United States bank, the Holder shall be entitled to receive a certificate for the number of Warrant Shares so purchased. Certificates for Warrant Shares purchased hereunder shall be delivered to the Holder within five (5) business days after the date on which this Warrant shall have been exercised as aforesaid. This Warrant shall be deemed to have been exercised and such certificate or certificates shall be deemed to have been issued, and Holder or any other person so designated to be named therein shall be deemed to have become a holder of record of such Warrant Shares for all purposes, as of the date the Warrant has been exercised by payment to the Company of the Exercise Price and all taxes required to be paid by the Holder, if any, pursuant to Section 7 prior to the issuance of such shares, have been paid. If the Company fails to deliver to the Holder a certificate or certificates representing the number of Warrant Shares exercised pursuant to this Section 3(a) by the fifth business day after the date of exercise, then the Holder will have the right to rescind such exercise by written notice to the Company.

 

4.     Cashless Exercise. Exercise of the purchase rights represented by this Warrant may be made, in whole or in part, at any time or times on or after the Initial Exercise Date and on or before the Termination Date, by means of a “cashless exercise” in which the Holder shall be entitled to receive a number of Warrant Shares equal to the quotient obtained by dividing [(A-B) (X)] by (A), where:

 

 

(A) = the VWAP on the Trading Day immediately preceding the date on which Holder elects to exercise this Warrant by means of a “cashless exercise,” as set forth in the applicable Notice of Exercise;

 

(B) = the Exercise Price of this Warrant, as adjusted hereunder; and

 

(X) = the number of Warrant Shares that would be issuable upon exercise of this Warrant in accordance with the terms of this Warrant if such exercise were by means of a cash exercise rather than a cashless exercise.

 

 
2

 

 

Notwithstanding anything herein to the contrary, on the Termination Date, this Warrant shall be automatically exercised via cashless exercise pursuant to this Section 4.

 

5.     Delivery of New Warrants Upon Exercise. If this Warrant shall have been exercised in part, the Company shall, at the time of delivery of the certificate or certificates representing Warrant Shares, deliver to Holder a new Warrant evidencing the rights of Holder to purchase the unpurchased Warrant Shares called for by this Warrant, which new Warrant shall in all other respects be identical with this Warrant.

 

6.     No Fractional Shares or Scrip. No fractional shares or scrip representing fractional shares shall be issued upon the exercise of this Warrant. As to any fraction of a share which Holder would otherwise be entitled to purchase upon such exercise, the Company shall, at its election, either pay a cash adjustment in respect of such final fraction in an amount equal to such fraction multiplied by the Exercise Price or round up to the next whole share.

 

7.     Charges, Taxes and Expenses. Issuance of certificates for Warrant Shares shall be made without charge to the Holder for any issue tax or other incidental expense in respect of the issuance of such certificate, all of which taxes and expenses shall be paid by the Company, and such certificates shall be issued in the name of the Holder.

 

8.     Closing of Books. The Company will not close its stockholder books or records in any manner which prevents the timely exercise of this Warrant, pursuant to the terms hereof.

 

9.     Division and Combination.

 

(a)     This Warrant may be divided or combined with other Warrants upon presentation hereof at the aforesaid office of the Company, together with a written notice specifying the Holder’s and the denominations in which new Warrants are to be issued, signed by the Holder or its agent or attorney. The Company shall execute and deliver a new Warrant or Warrants in exchange for the Warrant or Warrants to be divided or combined in accordance with such notice.

 

(b)     The Company shall prepare, issue and deliver at its own expense (other than transfer taxes) the new Warrant or Warrants under this Section 7.

 

(c)     The Company agrees to maintain, at its aforesaid office, books for the registration of this Warrant and any other new Warrants that may be issued upon the division or combination of this Warrant under this Section 7.

 

10.     No Rights as Shareholder until Exercise. This Warrant does not entitle the Holder to any voting rights or other rights as a shareholder of the Company prior to the exercise hereof. Upon the surrender of this Warrant and the payment of the aggregate Exercise Price, the Warrant Shares so purchased shall be and be deemed to be issued to such Holder as the record owner of such shares as of the close of business on the later of the date of such surrender or payment.

 

 
3

 

 

11.     Loss, Theft, Destruction or Mutilation of Warrant. The Company covenants that upon receipt by the Company of evidence reasonably satisfactory to it of the loss, theft, destruction or mutilation of this Warrant or any stock certificate relating to the Warrant Shares, and in case of loss, theft or destruction, of indemnity or security reasonably satisfactory to it (which, in the case of the Warrant, shall not include the posting of any bond), and upon surrender and cancellation of such Warrant or stock certificate, if mutilated, the Company will make and deliver a new Warrant or stock certificate of like tenor and dated as of such cancellation, in lieu of such Warrant or stock certificate.

 

12.     Saturdays, Sundays, Holidays, etc. If the last or appointed day for the taking of any action or the expiration of any right required or granted herein shall be a Saturday, Sunday or a legal holiday, then such action may be taken or such right may be exercised on the next succeeding day not a Saturday, Sunday or legal holiday.

 

13.     Adjustments of Exercise Price and Number of Warrant Shares. The number and kind of securities purchasable upon the exercise of this Warrant and the Exercise Price shall be subject to adjustment from time to time upon the happening of any of the following. In case the Company shall (i) pay a dividend in shares of Common Stock or make a distribution in shares of Common Stock to holders of its outstanding Common Stock, (ii) subdivide its outstanding shares of Common Stock into a greater number of shares, (iii) combine its outstanding shares of Common Stock into a smaller number of shares of Common Stock, or (iv) issue any shares of its capital stock in a reclassification of the Common Stock, then in each such case the number of Warrant Shares purchasable upon exercise of this Warrant immediately prior thereto shall be adjusted so that the Holder shall be entitled to receive the kind and number of Warrant Shares or other securities of the Company which it would have owned or have been entitled to receive had such Warrant been exercised in advance thereof. Upon each such adjustment of the kind and number of Warrant Shares or other securities of the Company which are purchasable hereunder, the Holder shall thereafter be entitled to purchase the number of Warrant Shares or other securities resulting from such adjustment at an Exercise Price per Warrant Share or other security obtained by multiplying the Exercise Price in effect immediately prior to such adjustment by the number of Warrant Shares purchasable pursuant hereto immediately prior to such adjustment and dividing by the number of Warrant Shares or other securities of the Company resulting from such adjustment. An adjustment made pursuant to this paragraph shall become effective immediately after the effective date of such event retroactive to the record date, if any, for such event.

 

 
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14.          Reorganization, Reclassification, Merger, Consolidation or Disposition of Assets. In case the Company shall reorganize its capital, reclassify its capital stock, consolidate or merge with or into another corporation (where the Company is not the surviving corporation or where there is a change in or distribution with respect to the Common Stock of the Company), or sell, transfer or otherwise dispose of all or substantially all its property, assets or business to another corporation and, pursuant to the terms of such reorganization, reclassification, merger, consolidation or disposition of assets, shares of common stock of the successor or acquiring corporation, or any cash, shares of stock or other securities or property of any nature whatsoever (including warrants or other subscription or purchase rights) in addition to or in lieu of common stock of the successor or acquiring corporation (“Other Property”), are to be received by or distributed to the holders of Common Stock of the Company, then the Holder shall have the right thereafter to receive, at the option of the Holder, upon exercise of this Warrant, the number of shares of Common Stock of the successor or acquiring corporation or of the Company, if it is the surviving corporation, and Other Property receivable upon or as a result of such reorganization, reclassification, merger, consolidation or disposition of assets by a Holder of the number of shares of Common Stock for which this Warrant is exercisable immediately prior to such event. In case of any such reorganization, reclassification, merger, consolidation or disposition of assets, the successor or acquiring corporation (if other than the Company) shall expressly assume the due and punctual observance and performance of each and every covenant and condition of this Warrant to be performed and observed by the Company and all the obligations and liabilities hereunder, subject to such modifications as may be deemed appropriate (as determined in good faith by resolution of the Board of Directors of the Company) in order to provide for adjustments of Warrant Shares for which this Warrant is exercisable which shall be as nearly equivalent as practicable to the adjustments provided for in this Section 12. For purposes of this Section 12, “common stock of the successor or acquiring corporation” shall include stock of such corporation of any class which is not preferred as to dividends or assets over any other class of stock of such corporation and which is not subject to redemption and shall also include any evidences of indebtedness, shares of stock or other securities which are convertible into or exchangeable for any such stock, either immediately or upon the arrival of a specified date or the happening of a specified event and any warrants or other rights to subscribe for or purchase any such stock. The foregoing provisions of this Section 12 shall similarly apply to successive reorganizations, reclassifications, mergers, consolidations or disposition of assets.

 

15.          Voluntary Adjustment by the Company. The Company may at any time during the term of this Warrant reduce the then current Exercise Price to any amount and for any period of time deemed appropriate by the Board of Directors of the Company.

 

16.          Notice of Adjustment. Whenever the number of Warrant Shares or number or kind of securities or other property purchasable upon the exercise of this Warrant or the Exercise Price is adjusted, as herein provided, the Company shall give notice thereof to the Holder, which notice shall state the number of Warrant Shares (and other securities or property) purchasable upon the exercise of this Warrant and the Exercise Price of such Warrant Shares (and other securities or property) after such adjustment, setting forth a brief statement of the facts requiring such adjustment and setting forth the computation by which such adjustment was made.

 

17.          Notice of Corporate Action. If at any time:

 

(a)     the Company shall take a record of the holders of its Common Stock for the purpose of entitling them to receive a dividend or other distribution, or any right to subscribe for or purchase any evidences of its indebtedness, any shares of stock of any class or any other securities or property, or to receive any other right, or

 

 
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(b)     there shall be any capital reorganization of the Company, any reclassification or recapitalization of the capital stock of the Company or any consolidation or merger of the Company with, or any sale, transfer or other disposition of all or substantially all the property, assets or business of the Company to, another corporation or,

 

(c)     there shall be a voluntary or involuntary dissolution, liquidation or winding up of the Company;

 

then, in any one or more of such cases (but not in such cases if the rights of the Holder or holders of Common Stock will not be materially affected thereby), the Company shall give to Holder (i) at least 5 business days’ prior notice of the date on which a record date shall be selected for such dividend, distribution or right or for determining rights to vote in respect of any such reorganization, reclassification, merger, consolidation, sale, transfer, disposition, liquidation or winding up, and (ii) in the case of any such reorganization, reclassification, merger, consolidation, sale, transfer, disposition, dissolution, liquidation or winding up, at least 5 business days’ prior notice of the date when the same shall take place. Such notice in accordance with the foregoing clause also shall specify (i) the date on which any such record is to be taken for the purpose of such dividend, distribution or right, the date on which the holders of Common Stock shall be entitled to any such dividend, distribution or right, and the amount and character thereof, and (ii) the date on which any such reorganization, reclassification, merger, consolidation, sale, transfer, disposition, dissolution, liquidation or winding up is to take place and the time, if any such time is to be fixed, as of which the holders of Common Stock shall be entitled to exchange their Warrant Shares for securities or other property deliverable upon such disposition, dissolution, liquidation or winding up. Each such written notice shall be sufficiently given if addressed to Holder at the last address of Holder appearing on the books of the Company and delivered in accordance with Section 19(c).

 

18.     Authorized Shares. The Company covenants that during the period the Warrant is outstanding, it will reserve from its authorized and unissued Common Stock a sufficient number of shares to provide for the issuance of the Warrant Shares upon the exercise of any purchase rights under this Warrant. The Company further covenants that its issuance of this Warrant shall constitute full authority to its officers who are charged with the duty of executing stock certificates to execute and issue the necessary certificates for the Warrant Shares upon the exercise of the purchase rights under this Warrant. The Company will take all such reasonable action as may be necessary to assure that such Warrant Shares may be issued as provided herein without violation of any applicable law or regulation, or of any requirements of the trading market upon which the Common Stock may be listed.      

 

19.     Miscellaneous.

 

(a)     Jurisdiction. This Warrant shall constitute a contract under the laws of California, without regard to its conflicts of laws principles or rules.

 

(b)     Restrictions. The Holder acknowledges that the Warrant Shares acquired upon the exercise of this Warrant, if not registered, will have restrictions upon resale imposed by state and federal securities laws.

 

 
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(c)     Notices. Any notice, request or other document required or permitted to be given or delivered pursuant to this Warrant shall be deemed to have been sufficiently given and received for all purposes when delivered by hand or by telecopy that has been confirmed as received by 5:00 P.M. on a business day, one (1) business day after being sent by nationally recognized overnight courier or received by telecopy after 5:00 P.M. on any day, or five (5) business days after being sent by certified or registered mail, postage and charges prepaid, return receipt requested, to the following addresses:

 

 

If to the Company:               Viveve Medical, Inc.

150 Commercial Street

Sunnyvale, CA 94086

Attn: Scott C. Durbin

Fax: (408) 530-1919

 

If to the Holder:     At the Holder’s address in the Company’s Warrant register.

 

(d)     Limitation of Liability. No provision hereof, in the absence of any affirmative action by Holder to exercise this Warrant or purchase Warrant Shares, and no enumeration herein of the rights or privileges of Holder, shall give rise to any liability of Holder for the purchase price of any Common Stock or as a stockholder of the Company, whether such liability is asserted by the Company or by creditors of the Company.

 

(e)     Successors and Assigns. Subject to applicable securities laws, this Warrant and the rights and obligations evidenced hereby shall inure to the benefit of and be binding upon the successors of the Company and the successors and permitted assigns of Holder. The provisions of this Warrant are intended to be for the benefit of all Holders from time to time of this Warrant and shall be enforceable by any such Holder or holder of Warrant Shares.

 

(f)     Amendment. This Warrant may be modified or amended or the provisions hereof waived with the written consent of the Holder and the Company.

 

(g)     Severability. Wherever possible, each provision of this Warrant shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Warrant shall be prohibited by or invalid under applicable law, such provision shall be ineffective to the extent of such prohibition or invalidity, without invalidating the remainder of such provisions or the remaining provisions of this Warrant.

 

(h)     Headings. The headings used in this Warrant are for the convenience of reference only and shall not, for any purpose, be deemed a part of this Warrant.

 

 

[The remainder of this page has been intentionally left blank.]

 

 
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IN WITNESS WHEREOF, the Company has caused this Warrant to be executed by its officer thereunto duly authorized.

 

 

Dated: December 17, 2015

 

VIVEVE MEDICAL, INC.

 

 

 

 

 

 

 

 

 

       

 

By:

 

 

 

Name:

Patricia Scheller

 

 

Title:

Chief Executive Officer

 

 

 
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NOTICE OF EXERCISE

 

To:     VIVEVE MEDICAL, INC.

 

(1)     The undersigned hereby elects to purchase ________ Warrant Shares of VIVEVE MEDICAL, INC. pursuant to the terms of the attached Warrant, and tenders herewith payment of the exercise price in full, together with all applicable transfer taxes, if any.

 

(2)     Please issue a certificate or certificates representing said Warrant Shares in the name of the undersigned or in such other name as is specified below:

 

Name:

 

 

 

Address:

 

 

 

   

 

 

SSN:

 

                         

The Warrant Shares shall be delivered to the following:

 

 

 

 

 

 

 

HOLDER NAME

 

 

 

 

 

 

 

 

 

 

By:

 

 

 

Name:

 

 

  Title:    
       

 

Dated: