RespireRx issues Series J preferred to settle $570K of officer/vendor liabilities

RespireRx Pharmaceuticals Inc.

Exchanged $570K of accrued compensation/debt for 5,700 shares of Series J 8% voting preferred stock.
Margolis (CFO) and Lippa (Interim CEO) each received 2,100 shares; vendor Radin received 1,500 shares.
Series J shares have $100 stated value, 8% annual dividend payable in stock, and 100x voting rights.
Redemption triggers include upfront payments, milestones, or royalties ≥$20M; liquidation preference before common.
Shares transferred immediately to trusts/affiliates; unregistered offering under Section 4(a)(2).

item 1.01 item 3.02 item 5.02 item 5.03 item 9.01

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 0.95

RespireRx Pharmaceuticals Inc.: Amendment to certificate of incorporation to establish Series J 8% Voting, Participating, Redeemable Preferred Stock (effective 2023-04-12).

Change: charter amendment
Effective: 2023-04-12

Exact text from the filing

On April 11, 2023 , the Company’s Board of Directors authorized an amendment to the Company’s certificate of incorporation to establish a Series J 8% Voting, Participating, Redeemable Preferred Stock (Series J Certificate of Designation”). On April 12, 2023, the Company filed the Series J Certificate of Designation with the Secretary of State of the state of Delaware.

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Source: SEC EDGAR

accession 0001493152-23-012080

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