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CUSIP No. 45168K306
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13D
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Page 12 of 17 pages
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ITEM 1.
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Security and Issuer.
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Item 1 of the Schedule 13D is hereby amended and restated in its entirety as follows:
This Amendment No. 6 to Schedule 13D (this Amendment No. 5) amends the Schedule 13D filed on November 14, 2011
(the Original 13D), as amended by Amendment No. 1 to Schedule 13D filed on November 16, 2012 (Amendment No. 1), Amendment No. 2 to Schedule 13D filed on June 5, 2013
(Amendment No. 2), Amendment No. 3 to Schedule 13D filed on October 9, 2013 (Amendment No. 3), Amendment No. 4 to Schedule 13D filed on October 17, 2016
and Amendment No. 5 to Schedule 13D filed on July 25, 2019 (Amendment No. 5, and, together with the Original 13D, Amendment No. 1, Amendment No. 2, Amendment No. 3 and Amendment
No. 4, the Schedule 13D) and relates to the Common Stock. The principal executive offices of the Issuer are located at 505 Eagleview Blvd., Suite 212, Exton, PA 19341.
Except as specifically amended by this Amendment No. 6, the disclosure in the Schedule 13D remains in full force and effect. Capitalized terms used in
this Amendment No. 6 but not otherwise defined shall have the meanings given to such terms in the Schedule 13D.
ITEM 2.
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Identity and Background.
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Item 2 of the Schedule 13D is hereby amended and restated in its entirety as follows:
(a) This Amendment No. 6 to Schedule 13D is being filed by Pillar I, Pillar II, Pillar III, Pillar IV, Pillar V, Pillar 6, Pillar GP, Pillar
Foundation, Youssef El Zein and Abude Umari.
(b) The business address of each of the foregoing Reporting Persons is c/o Pillar Invest Offshore
SAL, Starco Center, Bloc B, Third Floor, Omar Daouk Street, Beirut 2020-3313, Lebanon.
(c) Youssef El Zein and Abude Umare are each directors and
controlling stockholders of Pillar GP. Pillar GPs principal business consists of investment management.
(d) During the last five years, none
of the Reporting Persons has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).
(e) During the last
five years, none of the Reporting Persons were a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future
violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.
(f) Youssef El Zein is a citizen of France and the Republic of Lebanon. Abude Umari is a citizen of France and the Republic of Lebanon.
ITEM 3.
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Source and Amount of Funds or Other Consideration.
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The information set forth in Item 4 hereof is hereby incorporated by reference into this Item 3, as applicable.
ITEM 4.
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Purpose of Transaction.
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Private Placement
On April 7, 2020, the Company
entered into a Securities Purchase Agreement (the Securities Purchase Agreement) with Pillar Partners Foundation, providing for a private placement transaction (the Transaction) exempt from the registration
requirements of the Securities Act of 1933, as amended (the Securities Act), pursuant to which the Company issued and sold, for $5.0 million of aggregate consideration (the First Closing), (i) 3,039,514
shares (the First Closing Shares) of the Companys common stock, par value 0.001 (the Common Stock) and (ii) warrants to purchase 3,039,514 shares of Common Stock (the First Closing Common
Warrants). Each First Closing Share and the associated First Closing Common Warrant had a combined purchase price of $1.645. Each combined purchase price included $0.125 for each share of Common Stock underlying each First Closing Common
Warrant. The First Closing Common Warrants have an exercise price of $2.28 per share of Common Stock.
Pursuant to the Securities Purchase Agreement, the
Company also agreed to issue and sell to Pillar Foundation, for $5.0 million of aggregate consideration (the Second Closing), (i) 2,747,252 shares of Common Stock (the Second Closing Shares and, together
with the First Closing Shares, the Shares) (or pre-funded warrants to purchase shares of Common Stock (the Pre-Funded Warrants) in
lieu of certain Second Closing Shares to the extent that purchasing such second Closing Shares will cause Pillar Foundation to beneficially own in excess of 19.99% of the total number of shares of Common Stock outstanding post transaction), and