Lakewood-Amedex Biotherapeutics Announces Completion of Series C Convertible Preferred Stock Redemption
The redemption removes potential common-stock dilution from Series C conversions while using $1,270,970 of cash on hand.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Lakewood-Amedex Biotherapeutics (NASDAQ: LABT) completed the redemption of all remaining Series C Convertible Preferred Stock for $1,270,970 in cash.
The company redeemed 127,097 shares under a November 2, 2026 agreement with Shakawe Capital, using cash on hand. No preferred shares remain outstanding, and no additional common shares can be issued through conversion of the Series C Preferred Stock. Following the redemption, the company has no outstanding indebtedness for borrowed money. The transaction also eliminates all restrictions associated with the Series C Preferred Stock, including financing restrictions.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Positive
- Major pointRedemption eliminates potential common-stock dilution from Series C conversions; no preferred shares remain outstanding.
- Minor pointRedemption removes all Series C restrictions, including financing restrictions.
- Minor pointFollowing redemption, no indebtedness for borrowed money remains outstanding.
Negative
- Major pointThe redemption used $1,270,970 of cash on hand to retire 127,097 Series C preferred shares. 2.8× market cap
Details
Market move: LABT -5.59% vs previous close. Series C stock redemption
On Nov 5, the day this news came out, the latest delayed price for LABT is 5.59% below the previous close. Argus tracked a peak move of +15.1% during the session. Our momentum scanner has recorded 15 alerts for this stock so far that day. The latest delayed price is $0.18. Relative volume is elevated at 2.0x what this stock usually trades by this time of day.
Data tracked by StockTitan Argus (15 min delayed). Upgrade to Gold for real-time data.
Key Figures
- Preferred shares redeemed
- 127,097 shares
- Series C redemption
- Cash redemption price
- $1,270,970
- Aggregate price funded from cash on hand
- Preferred shares remaining
- 0 shares
- After completion of the redemption
- Shares issuable upon conversion
- 0 shares
- Series C Preferred Stock after redemption
Key Terms
convertible preferred stock financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
Following completion of the transaction, no shares of Series C Preferred Stock remain outstanding, and no additional shares of the Company's common stock will be issuable upon conversion of the Series C Preferred Stock. Following the redemption, the Company has no shares of preferred stock outstanding and no outstanding indebtedness for borrowed money. The redemption also eliminates all restrictions associated with the Series C Preferred Stock.
"Completing this redemption simplifies our capital structure and eliminates the potential for further dilution from conversion of the Series C Preferred Stock," said Kelvin Cooper, Ph.D., Chief Executive Officer of Lakewood-Amedex Biotherapeutics. "It also removes the financing restrictions associated with that instrument, giving us greater financial flexibility as we continue to advance our development programs."
About Lakewood-Amedex Biotherapeutics Inc.
Lakewood-Amedex Biotherapeutics Inc. (NASDAQ: LABT) is a clinical-stage biotechnology company developing a novel class of fast-acting, broad-spectrum antimicrobials – the Bisphosphocin® class - to treat infectious diseases and reduce the threat posed by antibiotic-resistant bacterial strains, including MRSA, VRE, and others. For more information, please visit https://lakewoodamedex.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the anticipated benefits of the redemption of the Series C Preferred Stock, including its effect on the Company's capital structure, potential dilution and financial flexibility; the Company's ability to obtain additional financing; and the Company's clinical development plans, regulatory strategy, anticipated trial timing, potential regulatory submissions or approvals, and the potential benefits, safety, efficacy and commercial potential of its Bisphosphocin® platform and product candidates. These statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially, including risks that the anticipated benefits of the redemption may not be realized; the use of cash to fund the redemption may reduce the Company's liquidity and cash runway; and the Company may be unable to obtain additional financing on acceptable terms or at all; clinical trials may not be initiated, completed or successful on expected timelines or at all; preclinical or clinical results may not be predictive of future results; product candidates may not demonstrate safety or efficacy or receive regulatory approval; and risks related to manufacturing, supply, financing and other matters described in the Company's filings with the Securities and Exchange Commission, including under "Risk Factors" in its most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. Forward-looking statements speak only as of the date of this press release, and the Company undertakes no obligation to update them except as required by law.
Contact
Investor Relations
Tiberend Strategic Advisors, Inc.
David Irish
(231) 632-0002
dirish@tiberend.com
Media Relations
Tiberend Strategic Advisors, Inc.
Casey McDonald
(646) 577-8520
cmcdonald@tiberend.com
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SOURCE Lakewood-Amedex Biotherapeutics Inc.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How much did Lakewood-Amedex pay to redeem its Series C preferred stock?
Lakewood-Amedex paid $1,270,970 from cash on hand to redeem all 127,097 remaining Series C Convertible Preferred Stock shares under its November 2, 2026 agreement with Shakawe Capital.