0001140361-23-022498.txt : 20230502
0001140361-23-022498.hdr.sgml : 20230502
20230502163952
ACCESSION NUMBER: 0001140361-23-022498
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20221028
FILED AS OF DATE: 20230502
DATE AS OF CHANGE: 20230502
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Angelico Paul
CENTRAL INDEX KEY: 0001924002
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-35569
FILM NUMBER: 23879795
MAIL ADDRESS:
STREET 1: C/O CHEMBIO DIAGNOSTICS, INC.
STREET 2: 555 WIRELESS BOULEVARD
CITY: HAUPPAUGE
STATE: NY
ZIP: 11788
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: CHEMBIO DIAGNOSTICS, INC.
CENTRAL INDEX KEY: 0001092662
STANDARD INDUSTRIAL CLASSIFICATION: PHARMACEUTICAL PREPARATIONS [2834]
IRS NUMBER: 880425691
STATE OF INCORPORATION: NV
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: 555 WIRELESS BLVD.
CITY: HAUPPAUGE
STATE: NY
ZIP: 11788
BUSINESS PHONE: (631) 924-1135
MAIL ADDRESS:
STREET 1: 555 WIRELESS BLVD.
CITY: HAUPPAUGE
STATE: NY
ZIP: 11788
FORMER COMPANY:
FORMER CONFORMED NAME: Chembio Diagnostics Inc.
DATE OF NAME CHANGE: 20040607
FORMER COMPANY:
FORMER CONFORMED NAME: TRADING SOLUTIONS COM INC
DATE OF NAME CHANGE: 19990805
4
1
form4.xml
X0407
4
2022-10-28
true
0001092662
CHEMBIO DIAGNOSTICS, INC.
CEMI
0001924002
Angelico Paul
C/O CHEMBIO DIAGNOSTICS, INC.
3661 HORSEBLOCK ROAD
MEDFORD
NY
11763
true
See remarks
false
Common Stock
2022-10-28
4
M
0
10594
A
46473
D
Common Stock
2022-10-28
4
F
0
3823
0.32
D
42650
D
Common Stock
2023-03-11
4
M
0
29333
A
71983
D
Common Stock
2023-03-11
4
F
0
10575
0.44
D
61408
D
Common Stock
2023-03-15
4
M
0
7885
A
69293
D
Common Stock
2023-03-15
4
F
0
2843
0.39
D
66450
D
Common Stock
2023-04-26
4
U
0
66450
0.45
D
0
D
Restricted stock units
2022-10-28
4
M
0
10594
0
D
Common stock
10594
0
D
Restricted stock units
2023-03-11
4
M
0
29333
0
D
Common stock
29333
58667
D
Restricted stock units
2023-03-15
4
M
0
7885
0
D
Common stock
7885
7886
D
Restricted stock units
2023-04-27
4
D
0
66553
D
Common stock
66553
0
D
Incentive stock options
2.36
2023-04-27
4
D
0
29883
D
2026-10-27
Common stock
29883
0
D
Incentive stock options
4.65
2023-04-27
4
D
0
177080
D
2031-03-14
Common stock
177080
0
D
Incentive stock options
1.25
2023-04-27
4
D
0
169714
D
2032-03-09
Common stock
169714
0
D
Each restricted stock unit represents a contingent right to receive one share of common stock.
These shares were withheld for tax purposes upon the vesting of restricted stock units.
Reflects disposition of Issuer common stock in connection with the consummation of the transactions contemplated by the Agreement and Plan of Merger, dated January 31, 2023 (the "Merger Agreement"), by and among the Issuer, Biosynex SA ("Parent"), and Project Merci Merger Sub, Inc. ("Purchaser"), including the completion on April 26, 2023 of a tender offer to purchase all of the outstanding shares of Issuer common stock at a price of $0.45 per share in cash, without interest (the "Offer Price"), and the consummation of the merger (the "Merger") between the Issuer and Purchaser on April 27, 2023. Pursuant to the Merger Agreement, as of the effective time of the Merger (the "Effective Time"), each outstanding share of Issuer common stock was cancelled in exchange for the right to receive an amount equal to the Offer Price.
On September 30, 2020, the reporting person was granted 31,780 restricted stock units which vested in three equal installments on October 28 of each of 2020, 2021 and 2022.
On March 15, 2021, the reporting person was granted 23,656 restricted stock units which vest in three equal installments on March 15 of each of 2022, 2023 and 2024, subject to continued service through each vesting date.
On March 11, 2022, the reporting person was granted 88,000 restricted stock units which vest in three equal installments on March 11 of each of 2023, 2024 and 2025, subject to continued service through each vesting date.
Each Company RSU (as defined in the Merger Agreement) that was outstanding as of immediately prior to the Effective Time was cancelled and converted into the right to receive an amount in cash equal to the product of (a) the total number of Shares (as defined the Merger Agreement) issuable in settlement of such Company RSU immediately prior to the Effective Time without regard to vesting multiplied by (b) the Merger Consideration (as defined in the Merger Agreement).
As of the Effective Time, by virtue of the Merger and without any further action on the part of the holders thereof, Parent, Purchaser or the Issuer, each option which had a per share exercise price that is equal to or more than the Offer Price (each, an "Out of the Money Option") that was then outstanding and unexercised as of immediately before the Effective Time was cancelled at the Effective Time without any consideration payable therefor.
/s/ Paul J. Angelico
2023-05-02