SEC FORM 4/A

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

BORKOWSKI EDWARD

(Last)

(First)

(Middle)

SUITE 304

(Street)

BROOKLYN

11226

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
AzurRx BioPharma, Inc. [ AZRX ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
01/11/2018

4. If Amendment, Date of Original Filed (Month/Day/Year)
01/16/2018

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	01/11/2018		M		8,640	A	$2.5	291,766⁽¹⁾	D
Common Stock	01/11/2018		M		13,680	A	$2.5	305,446⁽¹⁾	D
Common Stock	01/11/2018		M		13,680⁽²⁾	A	$2.5	319,126⁽¹⁾	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Warrants	$2.5⁽³⁾	01/11/2018		M			13,680⁽²⁾	10/14/2014	04/12/2020	Common Stock	13,680	$0	0	D
Warrants	$2.5⁽³⁾	01/11/2018		M			13,680	03/12/2015	09/08/2020	Common Stock	13,680	$0	0	D
Warrants	$2.5⁽⁴⁾	01/11/2018		M			8,640	10/14/2016	10/13/2021	Common Stock	8,640	$0	28,474⁽⁵⁾	D

Explanation of Responses:

1. The 7,500 shares issued to the Reporting Person on December 20, 2017 in connection with his services on the Issuer's Board of Directors were inadvertently omitted from the Reporting Person's holdings after the reported transactions on his original Form 4, and also omitted from one Form 4 filed by the Reporting Person after his original Form 4 was filed.

2. These shares were inadvertently reported as being held indirectly by the Reporting Person's spouse on the Reporting Person's original Form 4. However, such shares are held jointly by the Reporting Person and his spouse, and therefore have been aggregated with the Reporting Person's direct holdings. The same error was included in one Form 4 filed by the Reporting Person after his original Form 4 was filed.

3. On January 11, 2018, the Reporting Person exercised warrants reported herein pursuant to a warrant repricing letter by and between the Reporting Person and Issuer (the "Exercise Letter"). Under the terms of the Exercise Letter, the Issuer reduced the exercise price of these warrants from $5.58 per share to $2.50 per share.

4. Under the terms of the Exercise Letter, the Issuer reduced the exercise price of 8,640 warrants from $5.50 per share to $2.50 per share, and agreed to amend the remaining 28,474 warrants to reduce the exercise price to $3.25 per share.

5. As noted in Note 2 above, the Issuer has agreed to amend the remaining warrants to reduce the exercise price rom $5.50 to $3.25 per share.

	/s/ Ed Borkowski	07/26/2018
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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