Delcath Systems Inc (DCTH)

[Rapture2020]

On December 28, 2017, we entered into exchange agreements (collectively, “Exchange Agreements”), each by and between us and an investor from our June 2016 private placement of senior secured convertible notes (as further exchanged, the “Notes”) originally issued pursuant to that certain Securities Purchase Agreement, dated June 6, 2016, by and among us and such investors. Pursuant to the Exchange Agreements, we, among other things, issued to the investors shares (the “Shares”) of our common stock (or rights (“Rights”) to receive common stock to the extent such issuance of Shares would otherwise result in the beneficial ownership by any such investor of more than 4.9% or 9.9% of our issued and outstanding stock), as applicable, of an aggregate of 123,708,735 shares of our common stock. As of January 25, 2018, all of the Rights have been exercised, and neither investor owns more than 4.9% of the issued and outstanding shares of our common stock. Since the Notes have been satisfied in full as a result of the Exchange Agreements, there is no longer a security interest in our assets with respect to the Notes. As of January 25, 2018, we had 222,981,824 shares of our common stock issued and outstanding.