<SEC-DOCUMENT>0001144204-17-035506.txt : 20170703
<SEC-HEADER>0001144204-17-035506.hdr.sgml : 20170703
<ACCEPTANCE-DATETIME>20170703182639
ACCESSION NUMBER:		0001144204-17-035506
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20170629
FILED AS OF DATE:		20170703
DATE AS OF CHANGE:		20170703

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Precipio, Inc.
		CENTRAL INDEX KEY:			0001043961
		STANDARD INDUSTRIAL CLASSIFICATION:	LABORATORY ANALYTICAL INSTRUMENTS [3826]
		IRS NUMBER:				911789357
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		12325 EMMET ST
		CITY:			OMAHA
		STATE:			NE
		ZIP:			68164
		BUSINESS PHONE:		4027385480

	MAIL ADDRESS:	
		STREET 1:		12325 EMMET STREET
		CITY:			OMAHA
		STATE:			NE
		ZIP:			68164

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TRANSGENOMIC INC
		DATE OF NAME CHANGE:	20000119

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Rimer Mark
		CENTRAL INDEX KEY:			0001709016

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36439
		FILM NUMBER:		17945953

	MAIL ADDRESS:	
		STREET 1:		C/O PRECIPIO, INC.
		STREET 2:		4 SCIENCE PARK
		CITY:			NEW HAVEN
		STATE:			CT
		ZIP:			06511
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>v470282_3.xml
<DESCRIPTION>OWNERSHIP DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0206</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2017-06-29</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0001043961</issuerCik>
        <issuerName>Precipio, Inc.</issuerName>
        <issuerTradingSymbol>PRPO</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001709016</rptOwnerCik>
            <rptOwnerName>Rimer Mark</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O PRECIPIO, INC.</rptOwnerStreet1>
            <rptOwnerStreet2>4 SCIENCE PARK</rptOwnerStreet2>
            <rptOwnerCity>NEW HAVEN</rptOwnerCity>
            <rptOwnerState>CT</rptOwnerState>
            <rptOwnerZipCode>06511</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeHolding>
            <securityTitle>
                <value>8% Convertible Promissory Note</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>3.7363</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F1"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock or Series A Senior Convertible Preferred Stock</value>
                    <footnoteId id="F1"/>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>20073</value>
                    <footnoteId id="F1"/>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Chenies Investor LLC</value>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Warrant to Purchase Common Stock</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>7.50</value>
                <footnoteId id="F3"/>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2017-06-29</value>
            </exerciseDate>
            <expirationDate>
                <value>2022-06-29</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>2500</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Chenies Investor LLC</value>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Call Option (right to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>1.00</value>
                <footnoteId id="F4"/>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2017-06-29</value>
            </exerciseDate>
            <expirationDate>
                <value>2017-12-31</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>263332</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Kuzven Precipio Investor LLC</value>
                    <footnoteId id="F5"/>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">The 8% Convertible Promissory Note (the &quot;Note&quot;) was issued to Chenies Investor LLC on June 29, 2017 in the principal amount of $75,000 and is payable upon the earlier to occur of (i) October 1, 2017 or (ii) the closing of a Qualified Offering (as defined in the Note) (such date, the &quot;Maturity Date&quot;). At any time after the Maturity Date, the Note together with any accrued interest is convertible into shares of Common Stock of the Issuer. If the Issuer does not complete a Qualified Financing by October 1, 2017, the holder may convert the outstanding principal and interest of the Note into shares of the Issuer's Series A Senior Convertible Preferred Stock. Upon the closing of a Qualified Financing, the outstanding principal and interest of the Note will automatically be converted into shares of the Issuer's Series A Senior Convertible Preferred Stock.</footnote>
        <footnote id="F2">The Reporting Person is a managing member of Chenies Investor LLC.</footnote>
        <footnote id="F3">If the Issuer completes a Qualified Financing (as defined in the Warrant to Purchase Common Stock), the exercise price will become the lower of (i) $7.50 or (ii) 110% of the per share offering price in such Qualified Financing, but in no event lower than $1.50 per share.</footnote>
        <footnote id="F4">Kuzven Precipio Investor LLC has the right to buy 263,332 shares of the Issuer's Common Stock for an aggregate purchase price of $1.00.</footnote>
        <footnote id="F5">The Reporting Person is a managing member of Kuzven Precipio Investor LLC.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Mark Rimer</signatureName>
        <signatureDate>2017-07-03</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
