BIOLIFE SOLUTIONS INC — Director's Dealing 2020

Jun 4, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: BIOLIFE SOLUTIONS INC (BLFS)
CIK: 0000834365
Period of Report: 2019-10-04

Reporting Person: VILLIGER WALTER (10% Owner)
Reporting Person: WAVI Holding AG (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2019-10-04	Common Stock	S	162761	$15.36	Disposed	3315586	Indirect
2020-05-13	Common Stock	X	1777211	$4.75	Acquired	5092797	Indirect
2020-05-13	Common Stock	S	566561	$14.90	Disposed	4526236	Indirect
2020-05-13	Common Stock	X	550000	$1.75	Acquired	5076236	Indirect
2020-05-13	Common Stock	S	64597	$14.90	Disposed	5011639	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-05-13	Warrants (Right to Buy)	$4.75	X	1777211	Disposed	2021-03-25	Common Stock (1777211)	Indirect
2020-05-13	Warrants (Right to Buy)	$1.75	X	550000	Disposed	2021-05-12	Common Stock (550000)	Indirect

Footnotes

F1: On May 13, 2020, WAVI Holding AG ("WAVI"), an entity wholly owned by Walter Villiger (together, the "reporting person"), exercised an in-the-money warrant to purchase 1,777,211 shares of common stock, par value $0.001 per share (the "Common Stock"), of Biolife Solutions, Inc. (the "Company") with an exercise price of $4.75 per share pursuant to Rule 16b-6 under the Securities Exchange Act of 1934, as amended (the "Exchange Act"). The reporting person exercised the warrant on a cashless basis pursuant to the terms of the warrant, resulting in the Company's withholding of 566,561 of the warrant shares to pay the exercise price and issuing to the reporting person the remaining 1,210,650 shares.

F2: On May 13, 2020, the reporting person exercised an in-the-money warrant to purchase 550,000 shares of Common Stock of the Company with an exercise price of $1.75 per share pursuant to Rule 16b-6 under the Exchange Act. The reporting person exercised the warrant on a cashless basis pursuant to the terms of the warrant, resulting in the Company's withholding of 64,597 of the warrant shares to pay the exercise price and issuing to the reporting person the remaining 485,403 shares.

F3: The warrants were issued to WAVI in March 2014 in connection with the conversion of outstanding promissory notes and interest accrued thereon for units consisting of common stock and warrants.

F4: The warrants were issued to WAVI in May 2016 as partial consideration of a loan transaction.