secwatch.observer — SEC 8-K summary
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Issuer:     Phio Pharmaceuticals Corp. (PHIO)
CIK:        0001533040
Form:       8-K
Filed at:   2022-11-16T23:59:59+00:00
Accession:  0001683168-22-007821
Event type: other_material
Sentiment:  neutral
Materiality: 0.40
Item codes: 1.01, 5.03, 3.02, 3.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Phio Pharmaceuticals issues Series D Preferred Stock to interim Chairman Robert Bitterman for $1,750
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- On November 16, 2022, Phio entered a Subscription Agreement with interim Executive Chairman Robert J. Bitterman to sell one share of Series D Preferred Stock for $1,750 in cash.
- The Series D Preferred Stock carries 17,500,000 votes per share, voting only on proposals to amend the charter for a reverse stock split.
- The Preferred Stock is non-convertible, pays no dividends, has no liquidation rights, and is redeemable for $1,750 upon board approval or stockholder approval of a reverse split.
- The sale was an unregistered offering under Rule 506 of Regulation D, relying on the purchaser's accredited investor status.
- A Certificate of Designation for the Series D Preferred Stock was filed with the Delaware Secretary of State on November 16, 2022.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1533040/000168316822007821/0001683168-22-007821-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1533040/000168316822007821/phio_8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-22-007821

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