MERRIMACK PHARMACEUTICALS IN

CUSIP: 590328AA8 Class: NOTE 4.5% 7/1

TENOR CAPITAL MANAGEMENT Co., L.P.'s Holding History (CIK: 0001346554)

Note: Option positions (PUT/CALL) are excluded.

Q2 2014
Shares 2,750,000 Value ($000) $3,771 Avg Close — Range —
Q1 2014
Shares 1,500,000 Value ($000) $1,544 Avg Close — Range —