secwatch.observer — SEC 8-K summary
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Issuer:     PRESSURE BIOSCIENCES INC (—)
CIK:        0000830656
Form:       8-K
Filed at:   2023-05-05T23:59:59+00:00
Accession:  0001493152-23-015632
Event type: other_material
Sentiment:  neutral
Materiality: 0.55
Item codes: 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Pressure BioSciences creates two new convertible preferred series with forced conversion and voting features
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- Series BB: 1,000 shares, 10,000 votes per share, convertible to 10,000 common shares each.
- Series CC: 2,000 shares, 8% annual dividend on $25,000 liquidation preference per share.
- Series CC converts at $2.50/share; forced conversion if VWAP >= 300% of $2.50 for 10/15 trading days or exchange listing.
- Both series have a 4.99% conversion restriction on beneficial ownership (waivable with 61 days' notice).
- Series BB ranks junior to AA/CC; Series CC ranks pari passu with AA and senior to common stock.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/830656/000149315223015632/0001493152-23-015632-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/830656/000149315223015632/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-015632

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