secwatch.observer — SEC 8-K summary
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Issuer:     LEXICON PHARMACEUTICALS, INC. (LXRX)
CIK:        0001062822
Form:       8-K
Filed at:   2024-03-12T23:59:59+00:00
Accession:  0001193125-24-065928
Event type: other_material
Sentiment:  neutral
Materiality: 0.70
Item codes: 3.03, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Lexicon files certificate for Series A Convertible Preferred Stock; conversion requires charter amendment
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- Each Preferred share converts into 50 common shares upon stockholder approval to increase authorized shares to 450M.
- Conversion conditions include approval at 2024 annual meeting, board adoption, and Delaware filing of new charter.
- Preferred stockholders vote on as-converted basis on all matters; no separate class vote.
- Issuance is part of previously announced private placement; par value $0.01 per share.
- Authorized common shares to increase from 300M to 450M under proposed Sixth Amended and Restated Charter.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1062822/000119312524065928/0001193125-24-065928-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1062822/000119312524065928/d783185d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-065928

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