05/29/2026 | Press release | Distributed by Public on 05/29/2026 14:56
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FORM 4
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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| Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
| Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. | SEC 1474 (9-02) | ||
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1. Title of Derivative Security (Instr. 3) |
2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) |
4. Transaction Code (Instr. 8) |
5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) |
6. Date Exercisable and Expiration Date (Month/Day/Year) |
7. Title and Amount of Underlying Securities (Instr. 3 and 4) |
8. Price of Derivative Security (Instr. 5) |
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) |
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr. 4) |
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| Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
| Series B Preferred Stock | (3) | 05/15/2026 | C | 20,813.8186(1) | (3) | (3) | Common Stock | 20,813,818 | (3) | 0 | D(2) | ||||
| Reporting Owner Name / Address | Relationships | |||
| Director | 10% Owner | Officer | Other | |
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Emerald Bioventures, LLC 555 MADISON AVENUE, SUITE 11D NEW YORK, NY 10022 |
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Opler Timothy 555 MADISON AVENUE, SUITE 11D NEW YORK, NY 10022 |
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| /s/ Timothy Opler, Managing Member | 05/29/2026 | |
| **Signature of Reporting Person | Date | |
| /s/ Timothy Opler | 05/29/2026 | |
| **Signature of Reporting Person | Date |
| * | If the form is filed by more than one reporting person, see Instruction 4(b)(v). |
| ** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
| (1) | Pursuant to the Certificate of Designation of Preferences, Rights and Limitations of the Series B Non-Voting Convertible Preferred Stock, as amended ("Certificate of Designation"), no fractional shares were issued upon conversion. In lieu of fractional shares, the Issuer will pay Emerald Bioventures, LLC ("Emerald") an amount in cash equal to the trading value of such fractional shares as of the close of business on the date of the conversion in accordance with the Certificate of Designation. |
| (2) | This Form 4 is jointly filed by and on behalf of each of Emerald and Timothy Opler. Emerald is the record and direct beneficial owner of the securities reported herein. Mr. Opler is the managing member of Emerald and may be deemed to beneficially own securities owned by Emerald. |
| (3) | Represents 20,813.8186192892 shares of the Issuer's Series B Non Voting Convertible Preferred Stock (the "Series B Preferred Stock"). On May 15, 2026, the Issuer converted all outstanding Series B Preferred Stock into a number of shares of the Issuer's Common Stock ("Common Stock") calculated based on the Conversion Ratio (defined as 1,000 shares of Common Stock issuable upon the conversion of each share of Series B Preferred Stock), pursuant to and in accordance with the Certificate of Designation. The shares of Series B Preferred Stock have no expiration date. |