0000905718-17-000413.txt : 20170328
0000905718-17-000413.hdr.sgml : 20170328
20170328174852
ACCESSION NUMBER: 0000905718-17-000413
CONFORMED SUBMISSION TYPE: 4
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20170324
FILED AS OF DATE: 20170328
DATE AS OF CHANGE: 20170328
ISSUER:
COMPANY DATA:
COMPANY CONFORMED NAME: Kindred Biosciences, Inc.
CENTRAL INDEX KEY: 0001561743
STANDARD INDUSTRIAL CLASSIFICATION: PHARMACEUTICAL PREPARATIONS [2834]
IRS NUMBER: 461160142
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1231
BUSINESS ADDRESS:
STREET 1: 1555 BAYSHORE HIGHWAY, SUITE 200
CITY: BURLINGAME
STATE: CA
ZIP: 94010
BUSINESS PHONE: 650-701-7901
MAIL ADDRESS:
STREET 1: 1555 BAYSHORE HIGHWAY, SUITE 200
CITY: BURLINGAME
STATE: CA
ZIP: 94010
REPORTING-OWNER:
OWNER DATA:
COMPANY CONFORMED NAME: Park West Asset Management LLC
CENTRAL INDEX KEY: 0001386928
STATE OF INCORPORATION: DE
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: 4
SEC ACT: 1934 Act
SEC FILE NUMBER: 001-36225
FILM NUMBER: 17720075
BUSINESS ADDRESS:
STREET 1: 900 LARKSPUR LANDING CIRCLE, SUITE 165
CITY: LARKSPUR
STATE: CA
ZIP: 94939
BUSINESS PHONE: (415) 524-2902
MAIL ADDRESS:
STREET 1: 900 LARKSPUR LANDING CIRCLE, SUITE 165
CITY: LARKSPUR
STATE: CA
ZIP: 94939
4
1
kindredbiosc_fm4mar242017.xml
OWNERSHIP DOCUMENT
X0306
4
2017-03-24
0
0001561743
Kindred Biosciences, Inc.
KIN
0001386928
Park West Asset Management LLC
900 LARKSPUR LANDING CIRCLE, SUITE 165
LARKSPUR
CA
94939
0
0
1
0
Equity Swap
2017-03-24
4
J
1
168213
A
2017-03-24
2018-06-04
Common Stock, $0.0001 par value per share
168213
168213
I
See Footnotes
Equity Swap
2017-03-27
4
J
1
31787
A
2017-03-27
2018-06-04
Common Stock, $0.0001 par value per share
31787
31787
I
See Footnotes
Park West Asset Management LLC (the "Reporting Person") is the investment manager to Park West Investors Master Fund, Limited, a Cayman Islands exempted company ("PWIMF"), and Park West Partners International, Limited, a Cayman Islands exempted company ("PWPI"). Peter S. Park ("Mr. Park") is the sole member and manager of the Reporting Person.
Commencing March 24, 2017, the Reporting Person entered into an equity swap (the "March 24 Swap") with a securities broker under which, on June 4, 2018, (i) the Reporting Person will be obligated to pay to the broker approximately $1,203,244 representing $7.1531 per share (including a $0.03 per share commission) for each share of common stock, par value $0.0001 per share, of the Company (the "Common Stock") that is subject to the March 24 Swap, and (ii) the broker will be obligated to pay to the Reporting Person the market value of the 168,213 shares of Common Stock as of the end of the period. Any dividends earned on the 168,213 shares of Common Stock during the term of the March 24 Swap will be paid to the Reporting Person.
During the term of the March 24 Swap, the Reporting Person will pay to the broker "interest" on an aggregate of approximately $1,203,244 at the Federal Funds rate plus 30 basis points. Of the 168,213 shares underlying the March 24 Swap reported herein referenced in Table II, on March 24, 2017, PWIMF held the economic equivalent of 150,624 shares of Common Stock, and PWPI held the economic equivalent of 17,589 shares of Common Stock. Pursuant to Reg. Section 240.16a-1(a)(2), the Reporting Person's and Mr. Park's beneficial ownership is limited to their pecuniary interest, if any, in such securities.
Commencing March 27, 2017, the Reporting Person entered into an equity swap (the "March 27 Swap") with a securities broker under which, on June 4, 2018, (i) the Reporting Person will be obligated to pay to the broker approximately $226,441 representing $7.1237 per share (including a $0.03 per share commission) for each share of Common Stock that is subject to the March 27 Swap, and (ii) the broker will be obligated to pay to the Reporting Person the market value of the 31,787 shares of Common Stock as of the end of the period. Any dividends earned on the 31,787 shares of Common Stock during the term of the March 27 Swap will be paid to the Reporting Person.
During the term of the March 27 Swap, the Reporting Person will pay to the broker "interest" on an aggregate of approximately $226,441 at the Federal Funds rate plus 30 basis points. Of the 31,787 shares underlying the March 27 Swap reported herein referenced in Table II, on March 27, 2017, PWIMF held the economic equivalent of 28,117 shares of Common Stock, and PWPI held the economic equivalent of 3,670 shares of Common Stock. Pursuant to Reg. Section 240.16a-1(a)(2), the Reporting Person's, and Mr. Park's beneficial ownership is limited to their pecuniary interest, if any, in such securities.
/s/ Grace Jimenez, Chief Financial Officer of Park West Asset Management LLC
2017-03-28