Sec Form 4 Filing - Pillar Invest Corp @ IDERA PHARMACEUTICALS, INC. - 2021-01-20

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
Pillar Invest Corp
2. Issuer Name and Ticker or Trading Symbol
IDERA PHARMACEUTICALS, INC. [ IDRA]
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)
C/O STUARTS CORPORATE SERVICES LTD., KENSINGTON HOUSE, 69 DR. ROY'S DRIVE
3. Date of Earliest Transaction (MM/DD/YY)
01/20/2021
(Street)
GEORGETOWN, GRAND CAYMAN, E9KY1-1104
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 01/20/2021 X 643,525 A $ 0.01 1,931,893 I By Pillar Pharmaceuticals 6, L.P.See Footnotes ( 2 ) ( 4 )
Common Stock 03/18/2021 S 1,376,039 A $ 1.7985 ( 1 ) 4,121,599 I By Pillar Partners Foundation, L.P.See Footnotes ( 1 ) ( 2 )
Common Stock 03/18/2021 S 323,726 A $ 1.7985 ( 1 ) 1,608,167 I By Pillar Pharmaceuticals 6, L.P. ( 1 ) ( 2 )
Common Stock 03/26/2021 X 1,611,634 A $ 0.01 5,733,233 I By Pillar Partners Foundation, L.P.See Footnotes ( 2 ) ( 3 )
Common Stock 03/26/2021 X 884,175 A $ 0.01 2,492,342 I By Pillar Pharmaceuticals 6, L.P.See Footnotes ( 2 ) ( 3 )
Common Stock 386,110 I By Abude UmariSee Footnotes ( 2 ) ( 5 ) ( 6 )
Common Stock 26,308 I By Youssef El ZeinSee Footnotes ( 2 )
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
Prefunded Warrants $ 0.01 01/20/2021 X 643,525 12/11/2020 ( 7 ) Common Stock 643,525 $ 0.01 643,525 I By Pillar Pharmaceuticals 6, L.P.See Footnote ( 4 )
Prefunded Warrants $ 0.01 03/26/2021 X 1,611,634 12/11/2020 ( 7 ) Common Stock 1,611,634 $ 0.01 1,611,634 I By Pillar Partners Foundation, L.P.See Footnote ( 3 )
Prefunded Warrants $ 0.01 03/26/2021 X 884,175 12/11/2020 ( 7 ) Common Stock 884,175 $ 0.01 884,175 I By Pillar Pharmaceuticals 6, L.P.See Footnote ( 3 )
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Pillar Invest Corp
C/O STUARTS CORPORATE SERVICES LTD.
KENSINGTON HOUSE, 69 DR. ROY'S DRIVE
GEORGETOWN, GRAND CAYMAN, E9KY1-1104
X
Pillar Partners Foundation, L.P.
C/O STUARTS CORPORATE SERVICES LTD.
KENSINGTON HOUSE, 69 DR. ROY'S DRIVE
GEORGETOWN, GRAND CAYMAN, E9KY1-1104
X
Pillar Pharmaceuticals 6, L.P.
C/O STUARTS CORPORATE SERVICES LTD.
KENSINGTON HOUSE, 69 DR. ROY'S DRIVE
GEORGETOWN, GRAND CAYMAN, E9KY1-1104
X
Umari Abude
C/O STUARTS CORPORATE SERVICES LTD.
KENSINGTON HOUSE, 69 DR. ROY'S DRIVE
GEORGETOWN, GRAND CAYMAN, E9KY1-1104
X
ZEIN YOUSSEF EL
C/O STUARTS CORPORATE SERVICES LTD.
KENSINGTON HOUSE, 69 DR. ROY'S DRIVE
GEORGETOWN, GRAND CAYMAN, E9KY1-1104
X
Signatures
Pillar Invest Corporation, /s/ Youssef El Zein, Authorized Person 03/31/2021
Signature of Reporting Person Date
Pillar Partners Foundation, L.P., /s/ Youssef El Zein, Authorized Person 03/31/2021
Signature of Reporting Person Date
Pillar Pharmaceuticals, 6, L.P., /s/ Youssef El Zein, Authorized Person 03/31/2021
Signature of Reporting Person Date
/s/ Abude Umari 03/31/2021
Signature of Reporting Person Date
/s/ Youssef El Zein 03/31/2021
Signature of Reporting Person Date
Explanation of Responses:
( 1 )The shares sold on this date were sold in multiple transactions. This price is the weighted average sales price per share of all shares sold on this date; the actual sale prices per share range from $1.72-$1.85. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the st aff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price. The shares were sold to close two margin loans and the Pillar Funds do not currently have any other margin loans.
( 2 )Pillar Invest Corporation ("Pillar GP") is the general partner of Pillar Pharmaceuticals I, L.P., Pillar Pharmaceuticals II, L.P., Pillar Pharmaceuticals III, L.P., Pillar Pharmaceuticals IV, L.P., Pillar Pharmaceuticals V, L.P., Pillar Pharmaceuticals 6, L.P. ("Pillar 6") and Pillar Partners Foundation, L.P. (collectively, the "Pillar Funds"). Youssef El Zein and Abude Umari are directors of Pillar GP. Each of Pillar GP, Mr. El Zein and Mr. Umari disclaims Section 16 beneficial ownership of the securities beneficially owned by the Pillar Funds and this report shall not be deemed an admission that any of Pillar GP, Mr. El Zein or Mr. Umari is the Section 16 beneficial owner of any such securities, except to the extent of its or his pecuniary interest therein, if any, by virtue of its or his ownership interest in the Pillar Funds or Pillar GP, as applicable.
( 3 )1,611,634 of such warrants beneficially owned and exercised for shares of common stock by Pillar Partners, of which Pillar GP is the general partner (the "Pillar Partners Warrants") and 884,175 of such warrants exercised by Pillar 6 (the "Pillar 6 Warrants"). Pillar GP disclaims Section 16 beneficial ownership of the Pillar Partners Warrants and the Pillar 6 Warrants and the common stock underlying such warrants and this report shall not be deemed an admission that Pillar GP is the Section 16 beneficial owner of any such securities, except to the extent of its pecuniary interest therein, if any, by virtue of its ownership interest in Pillar Partners Warrants or Pillar 6 Warrants.
( 4 )643,525 of such warrants exercised by Pillar 6 (the "Pillar 6 January Warrants"). Pillar GP disclaims Section 16 beneficial ownership of the Pillar 6 January Warrants and the common stock underlying such warrants and this report shall not be deemed an admission that Pillar GP is the Section 16 beneficial owner of any such securities, except to the extent of its pecuniary interest therein, if any, by virtue of its ownership interest in Pillar 6 January Warrants.
( 5 )On March 4, 2021, Pillar 6 distributed in-kind, without consideration, 187,600 shares of Common Stock to Abude Umari, in accordance with his pro rata interest in Pillar 6. This distribution was made in accordance with the exemptions under Rule 16a-9(a) and Rule 16a-13 of the Securities Exchange Act of 1934, as amended.
( 6 )Includes the shares received by Mr. Umari in the distribution reported in footnote (5).
( 7 )The Pre-funded warrants have no expiration date.

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