Sec Form 4 Filing - PURA VIDA INVESTMENTS, LLC @ MedMen Enterprises, Inc. - 2021-01-11

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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
PURA VIDA INVESTMENTS, LLC
2. Issuer Name and Ticker or Trading Symbol
MedMen Enterprises, Inc. [ MMNFF]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director X __ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last) (First) (Middle)
512 W 22ND STREET, 7TH FLOOR
3. Date of Earliest Transaction (MM/DD/YY)
01/11/2021
(Street)
NEW YORK, NY10011
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
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
Senior Secured Convertible Note( 1 ) $ 2.55 01/11/2021 H( 2 ) ( 3 ) 04/23/2022 Class B Subordinate Voting Shares 1,082,518 ( 4 ) 0 I By Pura Vida Master Fund, LTD.( 5 )( 6 )
Senior Secured Convertible Note( 1 ) $ 2.17 01/11/2021 H ( 2 ) ( 3 ) 04/23/2022 Class B Subordinate Voting Shares 339,079 ( 4 ) 0 I By Pura Vida Master Fund, LTD.( 5 )( 6 )
Senior Secured Convertible Note( 1 ) $ 1.28 01/11/2021 H( 2 ) ( 3 ) 04/23/2022 Class B Subordinate Voting Shares 420,217 ( 4 ) 0 I By Pura Vida Master Fund, LTD.( 5 )( 6 )
Senior Secured Convertible Note( 1 ) $ 0.778 01/11/2021 H( 2 ) ( 3 ) 04/23/2022 Class B Subordinate Voting Shares 366,218 ( 4 ) 0 I By Pura Vida Master Fund, LTD.( 5 )( 6 )
Senior Secured Convertible Note( 1 ) $ 0.17 01/11/2021 J( 7 ) ( 3 ) 04/23/2022 Class B Subordinate Voting Shares 26,147,767 ( 4 ) $ 4,445,120.46 I By Pura Vida Master Fund, LTD.( 5 )( 6 )
Senior Secured Convertible Note( 1 ) $ 2.55 01/11/2021 H( 2 ) ( 3 ) 04/23/2022 Class B Subordinate Voting Shares 341,847 ( 4 ) 0 I By Pura Vida Pro Special Opportunity Master Fund, LTD.( 5 )( 6 )
Senior Secured Convertible Note( 1 ) $ 2.17 01/11/2021 H( 2 ) ( 3 ) 04/23/2022 Class B Subordinate Voting Shares 107,077 ( 4 ) 0 I By Pura Vida Pro Special Opportunity Master Fund, LTD.( 5 )( 6 )
Senior Secured Convertible Note( 1 ) $ 1.28 01/11/2021 H( 2 ) ( 3 ) 04/23/2022 Class B Subordinate Voting Shares 132,700 ( 4 ) 0 I By Pura Vida Pro Special Opportunity Master Fund, LTD.( 5 )( 6 )
Senior Secured Convertible Note( 1 ) $ 0.778 01/11/2021 H( 2 ) ( 3 ) 04/23/2022 Class B Subordinate Voting Shares 115,647 ( 4 ) 0 I By Pura Vida Pro Special Opportunity Master Fund, LTD.( 5 )( 6 )
Senior Secured Convertible Note( 1 ) $ 0.17 01/11/2021 J( 7 ) ( 3 ) 04/23/2022 Class B Subordinate Voting Shares 8,257,155 ( 4 ) $ 1,403,716.39 I By Pura Vida Pro Special Opportunity Master Fund, LTD.( 5 )( 6 )
Warrant( 1 ) $ 3.718 01/11/2021 H( 8 ) 95,817 ( 3 ) 05/22/2022 Class B Subordinate Voting Shares 766,541 ( 4 ) 670,724 I By Pura Vida Master Fund, LTD.( 5 )( 6 )
Warrant( 1 ) $ 4.29 01/11/2021 H( 8 ) 27,680 ( 3 ) 05/22/2022 Class B Subordinate Voting Shares 221,445 ( 4 ) 193,765 I By Pura Vida Master Fund, LTD.( 5 )( 6 )
Warrant( 1 ) $ 3.159 01/11/2021 H( 8 ) 28,193 ( 3 ) 07/12/2022 Class B Subordinate Voting Shares 225,546 ( 4 ) 197,353 I By Pura Vida Master Fund, LTD.( 5 )( 6 )
Warrant( 1 ) $ 3.645 01/11/2021 H( 8 ) 8,145 ( 3 ) 07/12/2022 Class B Subordinate Voting Shares 65,158 ( 4 ) 57,013 I By Pura Vida Master Fund, LTD.( 5 )( 6 )
Warrant( 1 ) $ 1.011 01/11/2021 H( 8 ) 35,234 ( 3 ) 11/27/2022 Class B Subordinate Voting Shares 281,867 ( 4 ) 246,633 I By Pura Vida Master Fund, LTD.( 5 )( 6 )
Warrant( 1 ) $ 1.167 01/11/2021 H( 8 ) 10,178 ( 3 ) 11/27/2022 Class B Subordinate Voting Shares 81,428 ( 4 ) 71,250 I By Pura Vida Master Fund, LTD.( 5 )( 6 )
Warrant( 1 ) $ 0.1608 01/11/2021 J( 9 ) 3,986,944 07/11/2022 01/11/2026 Class B Subordinate Voting Shares 3,986,944 ( 4 ) 3,986,944 I By Pura Vida Master Fund, LTD.( 5 )( 6 )
Warrant( 1 ) $ 3.718 01/11/2021 H( 8 ) 30,259 ( 3 ) 05/22/2022 Class B Subordinate Voting Shares 242,066 ( 4 ) 211,807 I By Pura Vida Pro Special Opportunity Master Fund, LTD.( 5 )( 6 )
Warrant( 1 ) $ 4.29 01/11/2021 H( 8 ) 8,741 ( 3 ) 05/22/2022 Class B Subordinate Voting Shares 69,930 ( 4 ) 61,189 I By Pura Vida Pro Special Opportunity Master Fund, LTD.( 5 )( 6 )
Warrant( 1 ) $ 3.159 01/11/2021 H( 8 ) 8,903 ( 3 ) 07/12/2022 Class B Subordinate Voting Shares 71,225 ( 4 ) 62,322 I By Pura Vida Pro Special Opportunity Master Fund, LTD.( 5 )( 6 )
Warrant( 1 ) $ 3.645 01/11/2021 H( 8 ) 2,572 ( 3 ) 07/12/2022 Class B Subordinate Voting Shares 20,576 ( 4 ) 18,004 I By Pura Vida Pro Special Opportunity Master Fund, LTD.( 5 )( 6 )
Warrant( 1 ) $ 1.011 01/11/2021 H( 8 ) 11,127 ( 3 ) 11/27/2022 Class B Subordinate Voting Shares 89,011 ( 4 ) 77,884 I By Pura Vida Pro Special Opportunity Master Fund, LTD.( 5 )( 6 )
Warrant( 1 ) $ 1.1667 01/11/2021 H( 8 ) 3,214 ( 3 ) 11/27/2022 Class B Subordinate Voting Shares 25,714 ( 4 ) 22,500 I By Pura Vida Pro Special Opportunity Master Fund, LTD.( 5 )( 6 )
Warrant( 1 ) $ 0.1608 01/11/2021 J( 9 ) 1,259,035 07/11/2022 01/11/2026 Class B Subordinate Voting Shares 1,259,035 ( 4 ) 1,259,035 I By Pura Vida Pro Special Opportunity Master Fund, LTD.( 5 )( 6 )
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
PURA VIDA INVESTMENTS, LLC
512 W 22ND STREET
7TH FLOOR
NEW YORK, NY10011
X
Pura Vida Master Fund, LTD
C/O WALKERS CORPORATE LIMITED
190 ELGIN AVENUE
GEORGE TOWN, GRAND CAYMAN, E9KY1-9008
X
Kamen Efrem
C/O PURA VIDA INVESTMENTS, LLC
512 W 22ND STREET, 7TH FLOOR
NEW YORK, NY10011
X
Signatures
/s/ Efrem Kamen 04/29/2022
Signature of Reporting Person Date
/s/ Efrem Kamen 04/29/2022
Signature of Reporting Person Date
/s/ Efrem Kamen 04/29/2022
Signature of Reporting Person Date
Explanation of Responses:
( 1 )Pursuant to a Third Amended and Restated Securities Purchase Agreement dated 01/11/2021 (the "Third Restatement"), (a) portions of certain warrants were cancelled, (b) additional share purchase warrants with an exercise price of $0.1608 per share were issued, and (c) the conversion prices of certain Senior Secured Convertible Notes (each a "Note" and collectively, the "Notes") were amended to $0.17 per share. Furthermore, Notes with conversion prices of $0.26 or $0.20 per share and warrants with an exercise price of $0.26 per share were automatically adjusted to $0.1529 pursuant to existing down-round adjustment provisions; such automatic adjustments are not required to be reported herein as they do not constitute acquisitions of additional securities. All dollar and share amounts of Notes reflect fully accreted principal amounts as of 01/11/2021. The ultimate number of shares issuable on conversion may vary based on the accrued interest payable on Notes at the time of any conversion.
( 2 )Pursuant to the Third Restatement, the conversion price of this Note was amended, which may be deemed a cancellation of the Note and an issuance of a new Note for the purpose of Section 16. See also footnotes (1) and (7).
( 3 )Currently exercisable as of Reporting Date.
( 4 )Not applicable.
( 5 )The reporting persons (the "Reporting Persons") are Pura Vida Investments, LLC ("PVI"), Pura Vida Master Fund, LTD. (the "PV Master Fund"), and Efrem Kamen. PVI serves as the investment manager to the PV Master Fund. Pura Vida Pro, LLC ("PVP") serves as the investment manager to Pura Vida Pro Special Opportunity Master Fund, LTD. PVP is a relying adviser of PVI. Efrem Kamen serves as the managing member of both PVI and PVP.
( 6 )This Form 4 shall not be deemed an admission that PVI and Efrem Kamen are beneficial owners of the securities for purposes of Sections 13 and 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose. Each of PVI and Efrem Kamen disclaims beneficial ownership of the Shares reported herein except to the extent of the PVI's and Efrem Kamen's pecuniary interest, if any, therein.
( 7 )This Note may be deemed issued for the purpose of Section 16 pursuant to the Third Restatement upon amendment of the conversion price of the original Notes. See also footnotes (1) and (2).
( 8 )Pursuant to the Third Restatement, a portion of the shares underlying this warrant was cancelled. See also footnote (1).
( 9 )Warrant was issued pursuant to the Third Restatement. See also footnote (1).

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* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
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