---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-22-115103"
form_type: "8-K"
ticker: "VSTM"
cik: "0001526119"
company_name: "Verastem, Inc."
filed_at: "2022-11-07T23:59:59+00:00"
generated_at: "2026-06-22T05:21:22.593483+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Verastem exchanges 10M common shares for 1M Series A convertible preferred shares with BVF

## Summary
- Exchange of 10M common shares for 1M Series A convertible preferred (convertible 10:1, $3.90 stated value).
- Preferred has no voting rights; conversion blocker initially at 9.99%, can increase to 19.99%.
- Transaction exempt under Section 3(a)(9); expected to close November 9, 2022.
- Post-exchange: 200,090,850 common shares outstanding; preferred convertible into 10M common shares.
- Holders included Biotechnology Value Fund entities (542,300; 382,900; 53,500; 21,300 preferred shares respectively).

## SEC filing metadata
- accession: 0001104659-22-115103
- form_type: 8-K
- ticker: VSTM
- cik: 0001526119
- company_name: Verastem, Inc.
- filed_at: 2022-11-07T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 3.02, 5.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1526119/000110465922115103/0001104659-22-115103-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1526119/000110465922115103/tm2229823d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-22-115103
- JSON: https://secwatch.observer/filing/0001104659-22-115103.json
- Plain text: https://secwatch.observer/filing/0001104659-22-115103.txt

## Key facts
- Governance Changes
  Verastem, Inc.: Establishment of Series D Preferred Stock through Certificate of Designation.
  - Change: charter amendment
  source text: e does not purport to be complete and is qualified in its entirety by reference to the Certificate of Designation, which is filed as an exhibit to this Report and is incorporated by reference herein. Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year. The information contained above in Item 3.02 of this Report regarding the Preferred Stock is incorporated by reference into this Item 5.03.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1526119/000110465922115103/0001104659-22-115103-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.