DELCATH SYSTEMS, INC. — Director's Dealing 2023

Mar 30, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: DELCATH SYSTEMS, INC. (DCTH)
CIK: 0000872912
Period of Report: 2023-03-29

Reporting Person: MICHEL GERARD J (Director, Chief Executive Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-03-29	Common Stock	P	19646	$4.84	Acquired	197235	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-03-29	Tranche A Warrants to Purchase Common Stock	$4.50	P	31110	Acquired		Common Stock (31110)	Direct
2023-03-29	Tranche B Warrants to Purchase Common Stock	$6.00	P	16666	Acquired		Common Stock (16666)	Direct

Footnotes

F1: The common stock and Tranche A and Tranche B Warrants were acquired in the issuer's private placement of common stock and warrants, issued as part of a unit. The per unit purchase price was $5.09, including a purchase price of $4.84 per share of common stock and $0.125 for each of the Tranche A and Tranche B Warrants. Each unit consisted of one share of common stock and an accompanying common stock warrant valued at 140% of the aggregate purchase price (the Tranche A Warrant) and an accompanying common stock warrant valued at 100% of the aggregate purchase price (the Tranche B Warrant).

F2: The Tranche A Warrants and Tranche B Warrants are immediately exercisable.

F3: The Tranche A Warrants expire the earlier of (i) twenty-one (21) days following the date of the Issuer's public announcement of its receipt of written approval from the U.S. Food and Drug Administration of its New Drug Application for HEPZATO (the "FDA Approval") and (ii) March 31, 2026.

F4: The Tranche B Warrants expire the earlier of (i) twenty-one (21) days following the date of the Issuer's public announcement of record at least $10,000,000 in quarterly U.S. revenue from the commercialization of HEPZATO and (ii) March 31, 2026, provided, however, if the FDA Approval occurs on or before February 15, 2024 and the Tranche A Warrants have not been exercised in full on or before March 7, 2024, then the Tranche B Warrants shall automatically expire on March 8, 2024.