other material
confidence high
sentiment positive
materiality 0.65
Interpace exchanges all Series B Preferred for Series C Preferred; first step toward Nasdaq uplisting
INTERPACE BIOSCIENCES, INC.
- All 47,000 Series B Preferred shares (28,000 Ampersand, 19,000 1315 Capital) exchanged for Series C at $1,000 stated value.
- Series C converts at $2.02/share (date closing price), no liquidation preference, no director designation rights, limited protective provisions.
- Series C automatically converts to common upon Nasdaq uplisting; company believes Series C qualifies as stockholders' equity under GAAP.
- Amended investor rights agreement provides registration rights; prior support agreement with 1315 Capital terminated.
- Exchange is first step toward Nasdaq uplisting; no cash received; additional listing requirements may need to be satisfied.