0001056520-21-000001.txt : 20210310
0001056520-21-000001.hdr.sgml : 20210310
20210310155015
ACCESSION NUMBER: 0001056520-21-000001
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20210302
FILED AS OF DATE: 20210310
DATE AS OF CHANGE: 20210310
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Ivy Jerry Lafe JR
CENTRAL INDEX KEY: 0001526770
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 000-49877
FILM NUMBER: 21729604
MAIL ADDRESS:
STREET 1: 2125 1ST AVE #3002
CITY: SEATTLE
STATE: WA
ZIP: 98121
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: ON TRACK INNOVATIONS LTD
CENTRAL INDEX KEY: 0001021604
STANDARD INDUSTRIAL CLASSIFICATION: SEMICONDUCTORS & RELATED DEVICES [3674]
IRS NUMBER: 000000000
STATE OF INCORPORATION: L3
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: HATNUFA 5
STREET 2: YOKNEAM INDUSTRIAL ZONE
CITY: YOKNEAM
STATE: L3
ZIP: 2069200
BUSINESS PHONE: 972 4 686-8021
MAIL ADDRESS:
STREET 1: HATNUFA 5
STREET 2: YOKNEAM INDUSTRIAL ZONE
CITY: YOKNEAM
STATE: L3
ZIP: 2069200
4
1
primary_doc.xml
PRIMARY DOCUMENT
X0306
4
2021-03-02
0
0001021604
ON TRACK INNOVATIONS LTD
OTIVF
0001526770
Ivy Jerry Lafe JR
1003 LAKE ST. #301
KIRKLAND
WA
98033
0
0
1
0
Ordinary Shares, NIS .10 par value
0
2021-03-02
4
A
0
0
1500000
A
2021-03-02
2021-06-17
Ordinary Shares
0
0
I
As Trustee and beneficiary of the Jerry L. Ivy, Jr. Descendants' Trust
The convertible loan was made pursuant to a loan financing agreement dated December 9, 2020. The loan bears interest at 8.0% per annum but upon an extension beyond the maturity date, the interest rate increases to 10.0% per annum.
The conversion feature of the loan became effective on March 2, 2021, the date of shareholder approval. Principal and accrued interest may be converted at a price per share (the "Conversion Price")equal to the lower of (a) $0.20 per share and (b) a price per share reflecting a discount of $0.248 (the "Benchmark Price"), as follows: (i) if conversion occurs no later than three months after the Initial Closing, the price will be $0.198; (ii) if conversion occurs more than three months but no later than six months after the Initial Closing, the price will be $0.174; (iii) if conversion occurs more than six months after the Initial Closing (to the extent extended in accordance with the terms of the Agreement), the price will be $0.124; and (iv) if conversion occurs upon an event of default, theprice will be $0.124.
Represents the maturity date of the convertible loan. The maturity date may be extended at the sole option of Mr. Ivy, which will extend the expiration date of the conversion right.
Jerry L. Ivy, Jr.
2021-03-03