Sec Form 4 Filing - HEYER ANDREW R @ JAMBA, INC. - 2012-09-05

Insider filing report for Changes in Beneficial Ownership
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FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
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, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
HEYER ANDREW R
2. Issuer Name and Ticker or Trading Symbol
JAMBA, INC. [ JMBA]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X __ Director X __ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last) (First) (Middle)
C/O MISTRAL CAPITAL MANAGEMENT, LLC, 650 FIFTH AVENUE, 31ST FL
3. Date of Earliest Transaction (MM/DD/YY)
09/05/2012
(Street)
NEW YORK, NY10019
4. If Amendment, Date Original Filed (MM/DD/YY)
6. Individual or Joint/Group Filing (Check Applicable Line)
_____ Form filed by One Reporting Person
__ X __ Form filed by More than One Reporting Person
(City) (State) (Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 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
Common Stock 09/05/2012 C 5,226,200 A $ 1.15 0 ( 1 ) ( 10 ) ( 11 ) D ( 11 ) ( 14 )
Common Stock 09/05/2012 C 1,885,200 A $ 1.15 0 ( 1 ) ( 10 ) ( 12 ) D ( 12 ) ( 14 )
Common Stock 09/05/2012 C 388,600 A $ 1.15 0 ( 2 ) ( 13 ) D ( 14 )
Common Stock 09/05/2012 S 5,226,200 D $ 2.4 0 ( 1 ) ( 3 ) ( 4 ) D ( 1 ) ( 3 ) ( 4 )
Common Stock 09/05/2012 S 1,885,200 D $ 2.4 0 ( 1 ) ( 3 ) ( 5 ) D ( 1 ) ( 3 ) ( 5 )
Common Stock 09/05/2012 S 388,600 D $ 2.4 0 ( 2 ) ( 6 ) D ( 2 ) ( 6 )
Common Stock 09/06/2012 C 209,100 A $ 1.15 0 ( 1 ) ( 10 ) ( 11 ) D ( 11 ) ( 14 )
Common Stock 09/06/2012 C 75,400 A $ 1.15 0 ( 1 ) ( 10 ) ( 12 ) D ( 12 ) ( 14 )
Common Stock 09/06/2012 C 15,500 A $ 1.15 0 ( 2 ) ( 13 ) D ( 14 )
Common Stock 09/06/2012 S 209,100 D $ 2.45 0 ( 1 ) ( 3 ) ( 4 ) D ( 1 ) ( 3 ) ( 4 )
Common Stock 09/06/2012 S 75,400 D $ 2.45 0 ( 1 ) ( 3 ) ( 5 ) D ( 1 ) ( 3 ) ( 5 )
Common Stock 09/06/2012 S 15,500 D $ 2.45 0 ( 2 ) ( 6 ) D ( 2 ) ( 6 )
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 (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 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
(MM/DD/YY)
7. Title and Amount of Underlying Securities
(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 of Derivative Security: 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
Preferred Stock (right to buy) $ 1.15 09/05/2012 C 52,262 ( 7 )( 8 )( 9 ) ( 8 )( 9 ) Common Stock 5,226,200 $ 0 ( 8 ) ( 9 ) 15,783 ( 1 ) ( 10 ) ( 11 ) D ( 1 ) ( 10 ) ( 11 ) ( 14 )
Preferred Stock (right to buy) $ 1.15 09/05/2012 C 18,852 ( 7 )( 8 )( 9 ) ( 8 )( 9 ) Common Stock 1,885,200 $ 0 ( 8 ) ( 9 ) 5,693 ( 1 ) ( 10 ) ( 12 ) D ( 1 ) ( 10 ) ( 12 ) ( 14 )
Preferred Stock (right to buy) $ 1.15 09/05/2012 C 3,886 ( 7 )( 8 )( 9 ) ( 8 )( 9 ) Common Stock 388,600 $ 0 ( 8 ) ( 9 ) 1,173 ( 2 ) ( 13 ) D ( 2 ) ( 13 ) ( 14 )
Preferred Stock (right to buy) $ 1.15 09/06/2012 C 2,091 ( 7 )( 8 )( 9 ) ( 8 )( 9 ) Common Stock 209,100 $ 0 ( 8 ) ( 9 ) 13,692 ( 1 ) ( 10 ) ( 11 ) D ( 1 ) ( 10 ) ( 11 ) ( 14 )
Preferred Stock (right to buy) $ 1.15 09/06/2012 C 754 ( 7 )( 8 )( 9 ) ( 8 )( 9 ) Common Stock 75,400 $ 0 ( 8 ) ( 9 ) 4,939 ( 1 ) ( 10 ) ( 12 ) D ( 1 ) ( 10 ) ( 12 ) ( 14 )
Preferred Stock (right to buy) $ 1.15 09/06/2012 C 155 ( 7 )( 8 )( 9 ) ( 8 )( 9 ) Common Stock 15,500 $ 0 ( 8 ) ( 9 ) 1,018 ( 2 ) ( 13 ) D ( 2 ) ( 13 ) ( 14 )
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
HEYER ANDREW R
C/O MISTRAL CAPITAL MANAGEMENT, LLC
650 FIFTH AVENUE, 31ST FL
NEW YORK, NY10019
X X
Mistral Equity Partners, LP
C/O MISTRAL CAPITAL MANAGEMENT, LLC
650 FIFTH AVENUE, 31ST FL
NEW YORK, NY10019
X
MISTRAL EQUITY GP LLC
C/O MISTRAL CAPITAL MANAGEMENT, LLC
650 FIFTH AVENUE, 31ST FL
NEW YORK, NY10019
X
Signatures
Andrew R. Heyer 09/07/2012
Signature of Reporting Person Date
Andrew R. Heyer, as CEO and Managing Director of Mistral Equity GP, LLC 09/07/2012
Signature of Reporting Person Date
Andrew R. Heyer, as CEO and Managing Director of Mistral Equity GP, LLC, the General Partner of Mistral Equity Partners, LP 09/07/2012
Signature of Reporting Person Date
Explanation of Responses:
( 1 )Mistral Equity GP, LLC ("ME GP") is the general partner of (i) Mistral Equity Partners, LP ("MEP"), a Delaware limited partnership and (ii) Mistral Equity Partners QP, LP ("MEP QP"), a Delaware limited partnership. Andrew R. Heyer ("Mr. Heyer"), who became a director of the Issuer on June 16, 2009, is the chief executive officer, sole managing member and a managing director of ME GP.
( 2 )Mr. Heyer is the sole managing member of MEP Co-Invest, LLC ("MEP C-I"), a Delaware limited liability company. Mr. Heyer, ME GP and MEP are referred to herein as the "Reporting Persons."
( 3 )ME GP indirectly owned Common Stock of the Issuer ("Common Shares") sold by MEP and Common Shares sold by MEP QP on September 5 and September 6, 2012. After the sales, ME GP indirectly owned 0 Common Shares.
( 4 )Represents Common Shares sold by MEP. After the sales, MEP directly owned 0 Common Shares.
( 5 )Represents Common Shares sold by MEP QP. After the sales, MEP QP directly owned 0 Common Shares.
( 6 )Represents Common Shares sold by MEP C-I. After the sales, MEP C-I directly owned 0 Common Shares.
( 7 )MEP, MEP QP and MEP C-I exercised their right to convert shares of Series B-1 Convertible Preferred Stock, par value $0.001 per share, ("Preferred Shares") of the Issuer on September 5 and September 6, 2012.
( 8 )The remaining Preferred Shares not converted by the Reporting Persons continue to be convertible at the election of the Reporting Persons, at any time, into Common Shares at a rate equal to $115 per Preferred Share divided by the initial conversion price of $1.15 per share, which rate is subject to customary anti-dilution adjustments for stock splits, dividends and the like. After June 16, 2011, the Issuer will have the right to force the Preferred Shares to convert into Common Shares if (i) the Common Share trading volume averages 150,000 shares per trading day over a 30 trading day period and (ii) the daily volume weighted average price per Common Share exceeds the product of 2.5 times the then-applicable conversion price for any 20 of the preceding 30 trading days.
( 9 )There is no expiration on either the optional or mandatory conversion right. After 7 years from the date the Preferred Shares are originally issued, the holders of at least a majority of the then outstanding Preferred Shares and shares of the Issuer's Series B-2 Convertible Preferred Stock, par value $0.001 per share, will have the right to require the Issuer to redeem their shares, in whole or in part, at a price per share equal to the original sale price per share plus any unpaid but accrued dividends.
( 10 )Represents Preferred Shares or Common Shares, as applicable, indirectly owned by ME GP.
( 11 )Represents Preferred Shares or Common Shares, as applicable, directly owned by MEP.
( 12 )Represents Preferred Shares or Common Shares, as applicable, directly owned MEP QP.
( 13 )Represents Preferred Shares or Common Shares, as applicable, directly owned MEP C-I.
( 14 )Each Reporting Person disclaims beneficial ownership of the reported securities except to the extent of his or its pecuniary interest therein, and this report shall not be deemed an admission that such Reporting Person is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.

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