0001493152-16-008017.txt : 20160311 0001493152-16-008017.hdr.sgml : 20160311 20160311212952 ACCESSION NUMBER: 0001493152-16-008017 CONFORMED SUBMISSION TYPE: 4 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20151106 FILED AS OF DATE: 20160311 DATE AS OF CHANGE: 20160311 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: CACHET FINANCIAL SOLUTIONS, INC. CENTRAL INDEX KEY: 0001487906 STANDARD INDUSTRIAL CLASSIFICATION: BLANK CHECKS [6770] IRS NUMBER: 272205650 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 18671 LAKE DRIVE EAST STREET 2: SOUTHWEST TECH CENTER A CITY: MINNEAPOLIS STATE: MN ZIP: 55317 BUSINESS PHONE: 952-698-6980 MAIL ADDRESS: STREET 1: 18671 LAKE DRIVE EAST STREET 2: SOUTHWEST TECH CENTER A CITY: MINNEAPOLIS STATE: MN ZIP: 55317 FORMER COMPANY: FORMER CONFORMED NAME: DE Acquisition 2, Inc. DATE OF NAME CHANGE: 20100324 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Bortel Peter CENTRAL INDEX KEY: 0001651488 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 000-53925 FILM NUMBER: 161502291 MAIL ADDRESS: STREET 1: 13313 POINT RICHMOND BEACH ROAD NW CITY: GIG HARBOR STATE: WA ZIP: 98332 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Bortel Investment Management LLC CENTRAL INDEX KEY: 0001651486 STATE OF INCORPORATION: WA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 000-53925 FILM NUMBER: 161502292 BUSINESS ADDRESS: STREET 1: 13313 POINT RICHMOND BEACH ROAD NW CITY: GIG HARBOR STATE: WA ZIP: 98332 BUSINESS PHONE: 253-858-7866 MAIL ADDRESS: STREET 1: 13313 POINT RICHMOND BEACH ROAD NW CITY: GIG HARBOR STATE: WA ZIP: 98332 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Tiburon Opportunity Fund, L.P. CENTRAL INDEX KEY: 0001490894 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 4 SEC ACT: 1934 Act SEC FILE NUMBER: 000-53925 FILM NUMBER: 161502293 BUSINESS ADDRESS: STREET 1: 13313 POINT RICHMOND BEACH ROAD NW CITY: GIG HARBOR STATE: WA ZIP: 98332 BUSINESS PHONE: 253-858-7866 MAIL ADDRESS: STREET 1: 13313 POINT RICHMOND BEACH ROAD NW CITY: GIG HARBOR STATE: WA ZIP: 98332 4 1 form4.xml X0306 4 2015-11-06 0 0001487906 CACHET FINANCIAL SOLUTIONS, INC. CAFN 0001490894 Tiburon Opportunity Fund, L.P. 13313 POINT RICHMOND BEACH ROAD NW GIG HARBOR WA 98332 0 0 1 0 0001651486 Bortel Investment Management LLC 13313 POINT RICHMOND BEACH ROAD NW GIG HARBOR WA 98332 0 0 1 0 0001651488 Bortel Peter 13313 POINT RICHMOND BEACH ROAD NW GIG HARBOR WA 98332 0 0 1 0 Common stock 2015-11-06 4 J 0 350000 0.4816 A 2798317 I See footnote Common stock 2016-01-06 4 J 0 385000 0.329 A 3183317 I See footnote Common stock 2016-01-06 4 J 0 68117 0.329 A 3251434 I See footnote Common stock 2016-03-07 4 J 0 250000 0.329 A 3501434 I See footnote Common stock 2016-03-07 4 J 0 250000 0.329 A 3751434 I See footnote Convertible preferred stock Common stock 2500 I See footnote Warrant to purchase common stock Common stock 86957 I See footnote Warrant to purchase common stock Common stock 571038 I See footnote Warrant to purchase common stock 0.4816 2015-11-06 4 J 0 350000 0 D 2014-10-22 2019-10-22 Common stock 350000 183336 I See footnote Warrant to purchase common stock 2015-11-16 4 J 0 385000 0 A 2015-11-16 2020-11-16 Common stock 385000 385000 I See footnote Warrant to purchase common stock 2015-11-24 4 J 0 168117 0 A 2015-11-24 2020-11-24 Common stock 168117 168117 I See footnote Warrant to purchase common stock 0.329 2016-01-06 4 J 0 385000 0 D 2015-11-16 2020-11-16 Common stock 385000 0 I See footnote Warrant to purchase common stock 0.329 2016-01-06 4 J 0 68117 0 D 2015-11-24 2020-11-24 Common stock 68117 100000 I See footnote Warrant to purchase common stock 0.329 2016-01-06 4 J 0 498429 0 A 2016-01-06 2021-01-06 Common stock 498429 498429 I See footnote Warrant to purchase common stock 0.329 2016-01-29 4 J 0 250000 0 A 2016-01-29 2021-01-29 Common stock 250000 250000 I See footnote Warrant to purchase common stock 0.329 2016-02-28 4 J 0 250000 0 A 2016-02-28 2021-02-28 Common stock 250000 250000 I See footnote Warrant to purchase common stock 0.329 2016-03-07 4 J 0 250000 0 D 2016-01-29 2021-01-29 Common stock 250000 0 I See footnote Warrant to purchase common stock 0.329 2016-03-07 4 J 0 250000 0 D 2016-02-28 2021-02-28 Common stock 250000 0 I See footnote Warrant to purchase common stock 0.329 2016-03-07 4 J 0 250000 0 A 2016-03-07 2021-03-07 Common stock 250000 250000 I See footnote Tiburon Opportunity Fund, L.P. (the "Stockholder"), Bortel Investment Management LLC (the "General Partner"), and Peter Bortel are collectively referred to herein as the "Reporting Persons." The Stockholder directly owns the securities reported herein. The General Partner is the general partner of the Stockholder. Mr. Bortel is the managing member of the General Partner and controls the General Partner's activities. The General Partner and Mr. Bortel may be deemed to have beneficial ownership of the securities reported herein. On February 3, 2015, Stockholder was issued a warrant to purchase 86,957 shares of common stock ("Common Stock") of Cachet Financial Solutions, Inc. (the "Issuer") with an exercise price of $1.15 per share. The warrant was exercisable on February 3, 2015 and expires on February 3, 2020. Pursuant to an amendment to the warrant on June 3, 2015, the exercise price was reduced to $0.4816 per share. In January 2016, the exercise price per share of the warrant was further reduced by the Issuer to $0.329 per share pursuant to the terms of the warrant, as amended. On June 3, 2015, Stockholder effected a private purchase for $250,000 of 2,500 shares of convertible preferred stock (convertible into 555,556 shares of Common Stock at $0.45 per share at any time from June 3, 2015 until June 3, 2020) and a warrant to purchase 571,038 shares of Common Stock at an exercise price of $0.4816 per share. The warrant was exercisable on June 3, 2015 and expires on June 3, 2020. In January 2016, the exercise price per share of the warrant and the conversion price per share of the convertible preferred stock were reduced by the Issuer to $0.329 per share pursuant to the terms of the warrant and convertible preferred stock, as amended. In light of such reduction, the convertible preferred stock became convertible into 759,878 shares of Common Stock at $0.329 per share. On October 22, 2014, Stockholder was issued a warrant to purchase 533,336 shares of Common Stock with an exercise price of $2.00 per share. The warrant was exercisable on October 22, 2014 and expires on October 22, 2019. Pursuant to an amendment to the warrant on June 3, 2015, the exercise price was reduced to $0.4816 per share. On November 6, 2015, Stockholder partially exercised the warrant to purchase 350,000 shares of Common Stock at $0.4816 per share (an aggregate of $168,560). In January 2016, the exercise price per share of the remaining 183,336 shares of Common Stock underlying the warrant was further reduced by the Issuer to $0.329 per share pursuant to the terms of the warrant, as amended. On November 16, 2015, to replace exercised warrants, Stockholder was issued a warrant to purchase 385,000 shares of Common Stock with an exercise price of $0.4816 per share. The warrant was exercisable on November 16, 2015 and expires on November 16, 2020. Pursuant to an amendment to the warrant on January 5, 2016, the exercise price per share of the warrant was reduced by the Issuer to $0.329 per share. On January 6, 2016, Stockholder fully exercised the warrant to purchase 385,000 shares of Common Stock at $0.329 per share (an aggregate of $126,665). On November 24, 2015, Stockholder was issued a warrant to purchase 168,117 shares of Common Stock with an exercise price of $0.4816 per share. The warrant was exercisable on November 24, 2015 and expires on November 24, 2020. Pursuant to an amendment to the warrant on January 5, 2016, the exercise price per share of the warrant was reduced by the Issuer to $0.329 per share. On January 6, 2016, Stockholder partially exercised the warrant to purchase 68,117 shares of Common Stock at $0.329 per share (an aggregate of $22,410). On January 6, 2016, Stockholder was issued a warrant to purchase 498,429 shares of Common Stock with an exercise price of $0.329 per share. The warrant was exercisable on January 6, 2016 and expires on January 6, 2021. On January 29, 2016, in connection with a loan by Stockholder to the Issuer, Stockholder was issued a warrant to purchase 250,000 shares of Common Stock with an exercise price of $0.329 per share. The warrant was exercisable on January 29, 2016 and expires on January 29, 2021. On March 7, 2016, Stockholder fully exercised the warrant to purchase 250,000 shares of Common Stock at $0.329 per share (an aggregate of $82,250). On February 28, 2016, in connection with another loan by Stockholder to the Issuer, Stockholder was issued a warrant to purchase 250,000 shares of Common Stock with an exercise price of $0.329 per share. The warrant was exercisable on February 28, 2016 and expires on February 28, 2021. On March 7, 2016, Stockholder fully exercised the warrant to purchase 250,000 shares of Common Stock at $0.329 per share (an aggregate of $82,250). On March 7, 2016, to replace exercised warrants, Stockholder was issued a warrant to purchase 250,000 shares of Common Stock with an exercise price of $0.329 per share. The warrant was exercisable on March 7, 2016 and expires on March 7, 2021. /s/ Peter Bortel, as managing member of general partner of Tiburon Opportunity Fund, L.P. 2016-03-11 /s/ Peter Bortel, as managing member of Bortel Investment Management LLC 2016-03-11 /s/ Peter Bortel 2016-03-11