SEC Form SC 13D/A filed by Aptevo Therapeutics Inc. (Amendment)

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13D/A

Under the Securities Exchange Act of 1934

(Amendment No. 4)*

Kevin Tang

Tang Capital Management, LLC

4747 Executive Drive, Suite 210

San Diego, CA 92121

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.  ☐

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See § 240.13d-7 for other parties to whom copies are to be sent.

* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

(Continued on following pages)

Explanatory Note

This Statement on Schedule 13D (the “Statement” or “Schedule 13D”) relates to the common stock, par value $0.001 (the “Common Stock”), of Aptevo Therapeutics Inc., a Delaware corporation (the “Issuer”) and amends the Schedule 13D filed on November 6, 2020 (the “Original Schedule 13D”), as amended on November 18, 2020, February 9, 2021 and June 21, 2021 (together with the Original Schedule 13D, the “Schedule 13D”). Capitalized terms used and not defined in this Amendment No. 4 have the meanings set forth in the Schedule 13D.

This Amendment No. 4 is being filed to amend Item 5 of the Schedule 13D as set forth below. The percentages of beneficial ownership reported herein are based on 4,898,034 shares of Common Stock reported to be issued and outstanding as of November 11, 2021, as set forth in the Issuer’s Quarterly Report on Form 10-Q that was filed with the Securities and Exchange Commission on November 12, 2021.

Item 5. Interest in Securities of the Issuer.

The information previously provided in response to Item 5 is hereby amended and restated by replacing the text thereof in its entirety with the following:

(a)         Amount beneficially owned and percentage of class:

Tang Capital Partners, LP is the beneficial owner of 921,336 shares of the Issuer’s Common Stock. Tang Capital Partners, LP shares voting and dispositive power over such shares of Common Stock with Tang Capital Management, LLC and Kevin Tang.

Tang Capital Management, LLC, as the general partner of Tang Capital Partners, LP, may be deemed to beneficially own the shares of the Issuer’s Common Stock owned by Tang Capital Partners, LP. Tang Capital Management, LLC shares voting and dispositive power over such shares with Tang Capital Partners, LP and Kevin Tang.

Kevin Tang, as the manager of Tang Capital Management, LLC, may be deemed to beneficially own the shares of the Issuer’s Common Stock beneficially owned by Tang Capital Partners, LP. Kevin Tang shares voting and dispositive power over such shares with Tang Capital Partners, LP and Tang Capital Management, LLC.

The percentages used herein are based on 4,898,034 shares of Common Stock reported to be issued and outstanding as of November 11, 2021, as set forth in the Company’s Quarterly Report on Form 10-Q that was filed with the Securities and Exchange Commission on November 12, 2021.

(b)         Voting and disposition powers:

Sole power to vote or direct the vote:

Shared power to vote or direct the vote:

Sole power to dispose or direct the disposition:

Shared power to dispose or direct the disposition:

(c)         The Reporting Persons have engaged in the following transactions in the Issuer’s Common Stock during the last 60 days.

(d)       N/A.

(e)       N/A.

___________________________

¹ The price reported is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $9.05 to $10.05. The Reporting Persons undertake to provide the Issuer, any security holder of the Issuer or the SEC staff, upon request, all information regarding the number of shares sold at each price within the ranges set forth in Footnotes 1 through 10 herein.

² The price reported is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $8.04 to $9.04.

³ The price reported is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $8.00 to $8.01.

⁴ The price reported is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $8.00 to $8.34.

⁵ The price reported is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $7.78 to $8.15.

⁶ The price reported is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $7.20 to $8.09.

⁷ The price reported is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $7.20 to $7.54.

⁸ The price reported is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $6.69 to $7.69.

⁹ The price reported is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $6.66 to $6.68.

¹⁰ The price reported is a weighted-average price. These shares were sold in multiple transactions at prices ranging from $6.50 to $6.71.

SIGNATURES

After reasonable inquiry and to the best of his or its knowledge and belief, each of the following Reporting Persons certifies that the information set forth in this statement is true, complete and correct.

November 22, 2021

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