Hale Martin M Jr: Falconstor Software Inc decreased Its Stake

October 19, 2018 - By Marie Mckinney

FalconStor Software, Inc. (OTCMKTS:FALC) Logo

Hale Martin M Jr Reported reduced Stake in Falconstor Software Inc

Hale Martin M Jr filed with SEC a SC 13D/A form for Falconstor Software Inc. It can be found at: 000114420418054491. As reported by Hale Martin M Jr, the filler decreased its stake in the stock by -61.29 % for 4,536,585 shares. Hale Martin M Jr currently owns 89.43% of the Information Technology- stock. Date of activity: October 9, 2018.

Reasons Why Hale Martin M Jr Holds Falconstor Software Inc

PURPOSE OF TRANSACTION

On October 9, 2018, the Issuer closed onthe final tranche of its Financing (the “Final Closing”) pursuant to which certain eligible stockholders (each,an “Eligible Participating Stockholder”) purchased Units. Each Unit consisted of the following for a per Unitoffering price of $0.371063:

(i)$0.10 of the Term Loan;

(ii)Financing Warrants to purchase 12.233 shares of the Company’s Common Stock for a nominalexercise price; and

(iii)0.0225 shares of Series A Preferred Stock at a per Unitprice of $0.271063, all such shares to be acquired directly from their current holder, HCP-FVA.

Each Eligible Participating Stockholderpurchased Units pursuant to a subscription agreement (each, a “Subscription Agreement” and collectively, the“Subscription Agreements”) among the Issuer, HCP-FVA and such Eligible Participating Stockholder. Pursuant tothe Subscription Agreements, Eligible Participating Stockholders purchased (i) $520,000 of the Term Loan held by HCP-FVA due tothe Financing’s oversubscription and (ii) 342,000 shares of Series A Preferred Stock held by HCP-FVA at a per share purchaseprice of $12.05. In connection with the Final Closing, 63,610,935 of the Financing Warrantspreviously issued by the Issuer to HCP-FVA in connection with HCP-FVA’s purchase of $3,000,000 of Units were cancelled forno consideration.

The foregoing does not purport to be acomplete description of the Subscription Agreements and is qualified in its entirety by the terms of the Subscription Agreementswhich are incorporated by reference herein. The form of Subscription Agreement is attached to Exhibit 1 of this Amendment No. 6.

Falconstor Software Inc Institutional Sentiment

Filings show 6 investors own Falconstor Software Inc. The ownership in Q3 2017 is very low, at Infinity of the outstanding shares. This is increased by 6017996. 2083582 were owned by these investors. 1 funds opened new Falconstor Software Inc stakes, 0 increased positions. There were 18 that closed positions and 3 reduced them.

California Public Employees Retirement System is an investor bullish on Falconstor Software Inc, owning 271000 shares as of Q3 2017 for less than 0.01% of its portfolio. Gabelli Funds Llc owns 340000 shares or less than 0.01% of its portfolio. NY Teton Advisors Inc have 0.02% of its portfolio for 700000 shares. Further, Gamco Investors Inc Et Al reported stake worth less than 0.01% of its portfolio. The X0 Herald Investment Management Ltd owns 400000 shares. Falconstor Software Inc is 0.03% of its portfolio.

SEC Form 13D.

It closed at $0.0674 lastly. It is down 0.00% since October 19, 2017 and is . It has underperformed by 15.62% the S&P500.

FalconStor Software, Inc. develops, makes, and sells data migration, business continuity, disaster recovery, optimized backup, and de-duplication solutions worldwide. The company has market cap of $6.60 million. It offers FreeStor, a software-defined platform that provides migration, continuity, protection/recovery, and optimization for storage environment through a single management interface; FalconStor network storage server for migration, storage virtualization, provisioning, and management; and FalconStor continuous data protector for bootable snapshots, zero-impact backup, and local and remote disaster recovery. It currently has negative earnings. The firm also provides FalconStor RecoverTrac, a tool for automated disaster recovery; and FalconStor optimized backup and deduplication solution for optimized backup, archive to tape, block and file based deduplication, and storage capacity optimization.

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