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*
ORBIMED ADVISORS LLC

(Last) (First) (Middle)
601 LEXINGTON AVENUE, 54TH FLOOR

(Street)
NEW YORK NY 10022-4629

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
SteadyMed Ltd. [ STDY ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director X 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
08/30/2018
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
Form filed by One Reporting Person
X 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)
Code V Amount (A) or (D) Price
Ordinary Shares, nominal value NIS 0.01 per share 08/30/2018 S 2,123,098 D $4.46(1) 0 I See Footnotes(2)(6)(7)
Ordinary Shares, nominal value NIS 0.01 per share 08/30/2018 S 2,123,098 D $4.46(1) 0 I See Footnotes(3)(6)(7)
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)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Warrants to Purchase Ordinary Shares $6.875 08/30/2018 P 55,000 04/25/2017 04/24/2022 Ordinary Shares 55,000 $3.85 348,500 I See Footnotes(2)(6)(7)
Warrants to Purchase Ordinary Shares $6.875 08/30/2018 P 55,000 04/25/2017 04/24/2022 Ordinary Shares 55,000 $3.85 348,500 I See Footnotes(3)(6)(7)
Warrants to Purchase Ordinary Shares $3.59 08/30/2018 S 1,536,098 08/03/2016 08/03/2021 Ordinary Shares 1,536,098 (4) 0 I See Footnotes(2)(6)(7)
Warrants to Purchase Ordinary Shares $3.59 08/30/2018 S $1,536,098 08/03/2016 08/03/2021 Ordinary Shares 1,536,098 (4) 0 I See Footnotes(3)(6)(7)
Warrants to Purchase Ordinary Shares $6.875 08/30/2018 S 348,500 04/25/2017 04/24/2022 Ordinary Shares 348,500 (5) 0 I See Footnotes(2)(6)(7)
Warrants to Purchase Ordinary Shares $6.875 08/30/2018 S 348,500 04/25/2017 04/24/2022 Ordinary Shares 348,500 (5) 0 I See Footnotes(3)(6)(7)
1. Name and Address of Reporting Person*
ORBIMED ADVISORS LLC

(Last) (First) (Middle)
601 LEXINGTON AVENUE, 54TH FLOOR

(Street)
NEW YORK NY 10022-4629

(City) (State) (Zip)
1. Name and Address of Reporting Person*
OrbiMed Capital GP VI LLC

(Last) (First) (Middle)
601 LEXINGTON AVENUE, 54TH FLOOR

(Street)
NEW YORK NY 10022

(City) (State) (Zip)
1. Name and Address of Reporting Person*
OrbiMed Advisors Israel II Ltd

(Last) (First) (Middle)
601 LEXINGTON AVENUE, 54TH FLOOR

(Street)
NEW YORK NY 10022

(City) (State) (Zip)
1. Name and Address of Reporting Person*
OrbiMed Israel GP II, L.P.

(Last) (First) (Middle)
601 LEXINGTON AVENUE, 54TH FLOOR

(Street)
NEW YORK NY 10022

(City) (State) (Zip)
Explanation of Responses:
1. Disposed of pursuant to the merger agreement (the "Merger Agreement") between the Issuer, United Therapeutics Corporation and Daniel 24043 Ltd. Corporation. In addition to the cash consideration, each shareholder of the issuer also received one contractual contingent value right ("CVR") per Ordinary Share. Each CVR represents the right to receive $2.63 in cash upon the achievement of a specified milestone.
2. These securities were held of record by OrbiMed Private Investments VI, LP ("OPI VI"). OrbiMed Capital GP VI LLC ("GP VI") is the general partner of OPI VI, and OrbiMed Advisors LLC ("Advisors"), a registered adviser under the Investment Advisors Act of 1940, as amended, is the managing member of GP VI. By virtue of such relationships, GP VI and Advisors may be deemed to have voting and investment power over the securities held by OPI VI and as a result may be deemed to have beneficial ownership over such securities for purposes of Rule 13d-3 under the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Advisors exercises this investment and voting power through a management committee comprised of Carl L. Gordon, Sven H. Borho and Jonathan T. Silverstein, each of whom disclaims beneficial ownership of the securities held by OPI VI.
3. These securities were held of record by OrbiMed Israel Partners II, L.P. ("OIP II"). OrbiMed Israel GP II, L.P. ("OIP GP") is the general partner of OIP II, and OrbiMed Advisors Israel II Limited ("OrbiMed Limited") is the managing member of OIP GP. By virtue of such relationships, OIP GP and OrbiMed Limited may be deemed to have voting and investment power over the securities held by OIP II and as a result may be deemed to have beneficial ownership over such securities for purposes of Rule 13d-3 under the Exchange Act. OrbiMed Limited exercises this investment power through an investment committee comprised of Carl L. Gordon, Jonathan Silverstein, Nissim Darvish, Anat Naschitz, and Erez Chimovits, each of whom disclaims beneficial ownership of the securities held by OIP II.
4. Under the Merger Agreement, at the effective time of the merger (the "Effective Time"), each outstanding warrant to purchase Ordinary Shares of the Issuer issued in 2016 was converted into the right to receive $2.71.
5. At the Effective Time, each outstanding warrant to purchase Ordinary Shares of the Issuer issued in 2017 was converted into the right to receive $2.33.
6. Samuel D. Isaly, who was included as a Reporting Person on previous reports under Section 16 of the Exchange Act filed by GP VI, OrbiMed Limited, OIP GP and Advisors, is no longer subject to Section 16 with respect to securities of the Issuer.
7. This report on Form 4 is jointly filed by GP VI, OrbiMed Limited, OIP GP and Advisors. Each of the Reporting Persons disclaims beneficial ownership of the securities reported herein for purposes of Rule 16a-1(a) under the Exchange Act, except to the extent of its pecuniary interest therein, if any. This report shall not be deemed an admission that any of the Reporting Persons is a beneficial owner for the purpose of Section 16 of the Exchange Act, or for any other purpose.
/s/ Sven H. Borho, Member of OrbiMed Advisors LLC 09/07/2018
/s/ Carl L. Gordon, Member of OrbiMed Advisors LLC and Director of OrbiMed Advisors Israel II Limited 09/07/2018
/s/ Jonathan T. Silverstein, Member of OrbiMed Advisors LLC 09/07/2018
** Signature of Reporting Person Date
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