secwatch.observer — SEC 8-K summary
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Issuer:     LENSAR, Inc. (LNSR)
CIK:        0001320350
Form:       8-K
Filed at:   2023-05-18T23:59:59+00:00
Accession:  0001193125-23-148214
Event type: other_material
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 3.02, 3.03, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

LENSAR closes $20M private placement of convertible preferred stock and warrants to North Run affiliate
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- Gross proceeds of $20M from sale of 20,000 Series A Convertible Preferred Shares (stated value $1,000) and warrants to NR-GRI Partners, an affiliate of North Run Capital.
- Preferred shares convertible into ~7.94M common shares at $2.51875; warrants to purchase ~4.37M shares at $2.45 (Class A) and $3.0625 (Class B) per share.
- Conversion and exercise limited to 19.99% beneficial ownership unless shareholders vote to remove blocker at special meeting by August 16, 2023.
- Directors and executive officers entered voting agreements committing to vote their shares in favor of ownership blocker removal.
- Company restricted from issuing >10% of outstanding common stock or incurring >$1M debt without Buyer consent while 20% ownership condition holds.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1320350/000119312523148214/0001193125-23-148214-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1320350/000119312523148214/d487803d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-148214

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer