MEI Pharma adopts poison pill after Anson/Cable Car accumulate ~19.9% stake

Lite Strategy, Inc.

Rights plan triggers at 20% ownership; expires September 30, 2024.
Anson Advisors and Cable Car Capital hold ~19.9% of MEIP shares and sold put options for 1.5M additional shares.
Existing holders above 20% are grandfathered but cannot increase ownership without triggering plan.
Upon trigger, non-acquiring holders may purchase shares at twice the exercise price, causing dilution.

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Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Lite Strategy, Inc.: Board approved Series A Certificate of Designation setting forth rights, powers, and preferences of Series A Preferred Shares (effective 2023-10-01).

Change: charter amendment
Effective: 2023-10-01

Exact text from the filing

on October 1, 2023, the Board approved the Series A Certificate of Designation. The Series A Certificate of Designation sets forth the rights, powers, and preferences of the Series A Preferred Shares.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Lite Strategy, Inc. entered into Rights Agreement with Computershare, Inc. (effective 2023-10-01).

Action: entry
Counterparty: Computershare, Inc.
Effective: 2023-10-01

Exact text from the filing

On October 1, 2023, the Board of Directors (the “Board”) of MEI Pharma, Inc., a Delaware corporation (the “Company”), approved and adopted a Rights Agreement, dated as of October 1, 2023 (the “Rights Agreement”), by and between the Company and Computershare, Inc., as Rights Agent (the “Rights Agent”).

View on SEC.gov

59 governance changes filed in the last 30 days. Browse all governance changes →

Lite Strategy, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-249423

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