Statement of Changes in Beneficial Ownership (4)
April 04 2014 - 1:12PM
Edgar (US Regulatory)
FORM 4
[
X
]
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue.
See
Instruction 1(b).
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
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OMB APPROVAL
OMB Number:
3235-0287
Estimated average burden
hours per response...
0.5
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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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1. Name and Address of Reporting Person
*
Tradewinds Capital, L.P.
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2. Issuer Name
and
Ticker or Trading Symbol
STAR SCIENTIFIC INC
[
STSI
]
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5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director
__
X
__ 10% Owner
_____ Officer (give title below)
_____ Other (specify below)
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(Last)
(First)
(Middle)
C/O TRADEWINDS INVESTMENT MANAGEMENT, LP, THREE HARBOR DRIVE, SUITE 213
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3. Date of Earliest Transaction
(MM/DD/YYYY)
4/2/2014
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(Street)
SAUSALITO, CA 94965
(City)
(State)
(Zip)
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4. If Amendment, Date Original Filed
(MM/DD/YYYY)
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6. Individual or Joint/Group Filing
(Check Applicable Line)
___ Form filed by One Reporting Person
_
X
_ Form filed by More than One Reporting Person
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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1.Title of Security
(Instr. 3)
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2. Trans. Date
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2A. Deemed Execution Date, if any
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3. Trans. Code
(Instr. 8)
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4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
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5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
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6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)
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7. Nature of Indirect Beneficial Ownership (Instr. 4)
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Code
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V
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Amount
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(A) or (D)
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Price
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Common Stock
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4/2/2014
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J
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1579498
(2)
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D
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$0.00
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0
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I
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By Tradewinds Fund (Cayman), Ltd.
(1)
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Common Stock
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4/2/2014
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J
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2219822
(3)
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D
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$0.00
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1825731
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I
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By Tradewinds Capital, L.P.
(1)
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Common Stock
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4/2/2014
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J
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369796
(4)
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A
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$0.00
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10051697
(5)
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I
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By Scott P. Peters
(1)
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Common Stock
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4/2/2014
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J
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766808
(4)
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A
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$0.00
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9319792
(6)
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I
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By Robert W. Scannell
(1)
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Common Stock
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4/2/2014
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J
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1136604
(4)
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A
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$0.00
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2962335
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I
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By Tradewinds Capital, L.P.
(1)
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Table II - Derivative Securities Beneficially Owned (
e.g.
, puts, calls, warrants, options, convertible securities)
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1. Title of Derivate Security
(Instr. 3)
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2. Conversion or Exercise Price of Derivative Security
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3. Trans. Date
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3A. Deemed Execution Date, if any
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4. Trans. Code
(Instr. 8)
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5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
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6. Date Exercisable and Expiration Date
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7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4)
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8. Price of Derivative Security
(Instr. 5)
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9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)
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10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)
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11. Nature of Indirect Beneficial Ownership (Instr. 4)
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Code
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V
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(A)
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(D)
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Date Exercisable
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Expiration Date
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Title
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Amount or Number of Shares
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Common Stock Warrants (right to buy)
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$2.00
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4/3/2014
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D
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543478
(7)
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9/4/2011
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9/4/2016
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Common Stock
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543478
(7)
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$0.00
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0
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I
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By Feehan Partners, L.P.
(1)
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Common Stock Warrants (right to buy)
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$1.80
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4/3/2014
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D
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833333
(7)
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5/5/2011
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5/5/2016
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Common Stock
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833333
(7)
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$0.00
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0
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I
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By Feehan Partners, L.P.
(1)
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Common Stock Warrants (right to buy)
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$2.00
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4/3/2014
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D
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543478
(7)
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9/4/2011
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9/4/2016
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Common Stock
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543478
(7)
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$0.00
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0
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I
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By P.V. Partners, L.P.
(1)
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Common Stock Warrants (right to buy)
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$1.80
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4/3/2014
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D
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833333
(7)
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5/5/2011
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5/5/2016
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Common Stock
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833333
(7)
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$0.00
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0
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I
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By P.V. Partners, L.P.
(1)
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Explanation of Responses:
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(
1)
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Prior to the transactions reflected in this report, each Reporting Person individually owned less than 10% of the STSI shares, but, as a group, the Reporting Persons owned more than 10% of the STSI shares. Following the transactions reflected in this report, the Reporting Persons, individually and as a group, own less than 10% of the STSI shares and are no longer subject to Section 16.
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(
2)
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Pro rata distribution by Tradewinds Fund (Cayman), Ltd. ("Tradewinds Cayman") of its STSI shares to its shareholders for no consideration in connection with its liquidation. After this distribution, Tradewinds Cayman was no longer the beneficial owner of STSI shares and no longer a member of the group that was subject to Section 16.
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(
3)
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Redemption in kind by Tradewinds Capital, L.P. ("Tradewinds Capital") of its partners who were not Reporting Persons.
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(
4)
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These shares were distributed to Mr. Peters and Mr. Scannell, as shareholders of Tradewinds Cayman, in the transaction described in Note (2) above. These shares were then contributed by Mr. Peters and Mr. Scannell to Tradewinds Capital.
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(
5)
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Consists of: 64,700 shares held by Mr. Peters, 2,962,335 shares held by Tradewinds Capital and 7,089,362 shares held by PV Partners, L.P. ("PVP"). Mr. Peters is a Member of the General Partner of Tradewinds Capital and Co-General Partner of the investment manager of Tradewinds Capital and, as such, may be deemed to share voting and investment power over the shares held by Tradewinds Capital. Mr. Peters is the General Partner of PVP. Mr. Peters disclaims beneficial ownership of the shares held by Tradewinds Capital, except to the extent of his pecuniary interest therein, if any. Mr. Peters has no pecuniary interest in the shares held by Feehan Partners, LP and disclaims any beneficial ownership of those shares.
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(
6)
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Consists of: 2,962,335 shares held by Tradewinds Capital and 6,357,457 shares held by Feehan Partners, L.P. ("Feehan"). Mr. Scannell is the Managing Member of the General Partner of Tradewinds Capital and the Co-General Partner of the investment manager of Tradewinds Capital and, as such, may be deemed to share voting and investment power over the shares held by Tradewinds Capital. Mr. Scannell is the General Partner of Feehan. Mr. Scannell disclaims beneficial ownership of the shares held by Tradewinds Capital, except to the extent of his pecuniary interest therein, if any. Mr. Scannell has no pecuniary interest in the shares held by Mr. Peters or PVP and disclaims beneficial ownership of those shares.
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(
7)
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The reported transactions involved an amendment of outstanding warrants, resulting in the deemed cancellation of the "old" warrants and the grant of replacement warrants. The replacement warrants are not exercisable within six months and thus are not deemed to be beneficially owned by the Reporting Persons for purposes of calculating 10% ownership.
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Reporting Owners
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Reporting Owner Name / Address
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Relationships
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Director
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10% Owner
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Officer
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Other
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Tradewinds Capital, L.P.
C/O TRADEWINDS INVESTMENT MANAGEMENT, LP
THREE HARBOR DRIVE, SUITE 213
SAUSALITO, CA 94965
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X
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Tradewinds Fund (Cayman), Ltd.
C/O TRADEWINDS INVESTMENT MANAGEMENT, LP
THREE HARBOR DRIVE, SUITE 213
SAUSALITO, CA 94965
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X
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P.V. Partners, L.P.
C/O TRADEWINDS INVESTMENT MANAGEMENT, LP
THREE HARBOR DRIVE, SUITE 213
SAUSALITO, CA 94965
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X
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Feehan Partners, L.P.
C/O TRADEWINDS INVESTMENT MANAGEMENT, LP
THREE HARBOR DRIVE, SUITE 213
SAUSALITO, CA 94965
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X
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Peters Scott
C/O TRADEWINDS INVESTMENT MANAGEMENT, LP
THREE HARBOR DRIVE, SUITE 213
SAUSALITO, CA 94965
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X
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Scannell Robert
C/O TRADEWINDS INVESTMENT MANAGEMENT, LP
THREE HARBOR DRIVE, SUITE 213
SAUSALITO, CA 94965
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X
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Signatures
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TRADEWINDS CAPITAL, L.P., By: /s/ Jay B. Gould, Jay B. Gould, Attorney-in-Fact
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4/4/2014
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**
Signature of Reporting Person
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Date
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TRADEWINDS FUND (CAYMAN), LTD., By: /s/ Jay B. Gould, Jay B. Gould, Attorney-in-Fact
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4/4/2014
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**
Signature of Reporting Person
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Date
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P.V. PARTNERS, L.P., By: /s/ Jay B. Gould, Jay B. Gould, Attorney-in-Fact
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4/4/2014
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**
Signature of Reporting Person
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Date
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FEEHAN PARTNERS, L.P., By: /s/ Jay B. Gould, Jay B. Gould, Attorney-in-Fact
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4/4/2014
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**
Signature of Reporting Person
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Date
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SCOTT P. PETERS, By: /s/ Jay B. Gould, Jay B. Gould, Attorney-in-Fact
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4/4/2014
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**
Signature of Reporting Person
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Date
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ROBERT W. SCANNELL, By: /s/ Jay B. Gould, Jay B. Gould, Attorney-in-Fact
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4/4/2014
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**
Signature of Reporting Person
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Date
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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*
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If the form is filed by more than one reporting person,
see
Instruction 4(b)(v).
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**
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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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Note:
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File three copies of this Form, one of which must be manually signed. If space is insufficient,
see
Instruction 6 for procedure.
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Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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