On July 28, 2020, Tetraphase Pharmaceuticals, Inc. and La Jolla Pharmaceutical Company completed a merger. Pursuant to the terms of the merger and the support agreement, dated June 24, 2020, entered into by and among: (i) the Master Fund; (ii) La Jolla; and (iii) TTP Merger Sub, Inc., a wholly-owned subsidiary of La Jolla, in connection the merger, the Master Fund received in exchange for all of the shares and warrants of the Company held by it at the time of the merger (A) an upfront cash payment of $24,486,689.40, and (B) 4,905,150 contingent value rights (CVRs) entitled to receive future cash payments from La Jolla if U.S. net sales of XERAVA achieve certain specified benchmarks. In addition, Boyd and Keith Maher, a Managing Director at Armistice Capital, have resigned from the Issuer’s board of directors.