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CUSIP No. 03890D108
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SCHEDULE 13D
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Page 4 of 6 Pages
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Under the terms of the Merger Agreement, the Issuer issued shares of its
common stock to Private Aravives stockholders, at an exchange ratio of 2.2801 shares of common stock in exchange for each share of common stock of Private Aravive outstanding immediately prior to the Merger. The Reporting Person held 2,478,525
shares of Private Aravives common stock and options to purchase 580,858 shares of Private Aravives common stock prior to the Merger, which resulted in the Reporting Person receiving 5,651,284 shares of common stock and options to
purchase 1,324,410 shares of common stock at the effective time of the Merger (the vesting of which accelerated upon consummation of the Merger) which was reduced to 941,880 shares of common stock and options to purchase 220,728 shares of common
stock after the reverse stock split of the Issuers common stock
.
Item 4. Purpose of Transaction
The disclosure provided in Item 3 above is incorporated herein by reference.
Since the effective time of the Merger and as of the date hereof, the Reporting Person has served as a director of the Issuer. At the
effective time of the Merger, each of the directors of the Issuer prior to the Merger resigned and the Reporting Person, Ray Tabibiazar, Eric Zhang, Srini Akkaraju, Jay Shepard, Shahzad Malik and Robert Hoffman were appointed as directors of the
Issuer whose terms expire as follows: The Reporting Person and Jay Shepard,2019; Eric Zhang and Shahzad Malik, 2020; and Ray Tabibiazar, Robert Hoffman and Srini Akkaraju, 2021.
Item 5. Interest in Securities of the Issuer
(a) The percentage of beneficial ownership reported in this Item 5, and on the Reporting Persons cover page to this Schedule 13D, is
based on a total of 11,182,045 shares of the common stock issued and outstanding as of October 16, 2018 and reflects the
1-for-6
reverse stock split, all according
to information provided by the Issuer to the Reporting Person. All of the share numbers reported herein, and on the Reporting Persons cover page to this Schedule 13D, are as of October 16, 2018, unless otherwise indicated. The cover page
to this Schedule 13D for the Reporting Person is incorporated by reference in its entirety into this Item 5(a).
The Reporting Person
beneficially owns 1,162,608 shares of common stock, or approximately 10.2% of the outstanding shares of common stock.
(b) The Reporting
Person has sole authority to vote (or direct the vote of), and to dispose (or direct the disposal) of, all of the shares of common stock beneficially owned by the Reporting Person as described in Item 5(a) above.
(c) As of October 12, 2018, the Reporting Person acquired beneficial ownership of 6,975,694 shares, consisting of 5,651,284 shares of
common stock and options to purchase 1,324,410 shares of common stock as a result of the effectiveness of the Merger which was reduced to 941,880 shares of common stock and options to purchase 220,728 shares of common stock after the reverse stock
split of the Issuers common stock. Except as set forth in the preceding sentence, the Reporting Person has not effected any transaction in shares of the common stock from August 12, 2018 (the date 60 days prior to the filing of this
Schedule 13D) to October 12, 2018.
(d) No person other than the Reporting Person is known to have the right to receive or the power
to direct the receipt of dividends from, or the proceeds from the sale of, shares of the common stock.
(e) Not applicable.
Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer
Not applicable.