Blade Ranger: Consideration from PainReform Transaction Continues to Mature Following Growth in Software Sales

Rhea-AI Summary

Blade Ranger Ltd. (TASE: BLRN) announced a significant milestone in its transaction with PainReform (NASDAQ: PRFX) regarding the sale of its DeepSolar operations. Following increased software sales, Blade Ranger has received 685,004 warrants exercisable at $0.01 per share, with PainReform's shares trading at approximately $1.91. The March 2025 agreement initially provided Blade Ranger with approximately 9.9% equity in PainReform and 3.08 million warrants. Currently, Blade Ranger holds shares and warrants worth approximately $2 million based on the current share price, with the matured warrants valued at approximately NIS 4.5 million.

Positive

• Achievement of first milestone indicates successful software sales performance
• Receipt of 685,004 warrants exercisable at minimal cost ($0.01 vs $1.91 market price)
• Total holdings now worth approximately $2 million, improving financial flexibility

Negative

• None.

News Market Reaction

-3.55%

1 alert

-3.55% News Effect

On the day this news was published, PRFX declined 3.55%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

As a result of increased software sales by the acquirer, and in accordance with the terms of the software business sale agreement, a significant number of zero-exercise-price warrants have matured—Blade Ranger now holds approximately 1 million shares and warrants exercisable at no additional cost

TEL AVIV, Israel, May 27, 2025 /PRNewswire/ -- Blade Ranger Ltd. (TASE: BLRN), a company listed on the Tel Aviv Stock Exchange, announced the achievement of a first milestone in the transaction involving the sale of its DeepSolar operations to PainReform (NASDAQ: PRFX).

According to the agreement, which was completed in March 2025, Blade Ranger received a package of securities that included, among other things, common shares of PainReform representing approximately 9.9% of the company's equity, as well as approximately 3.08 million warrants convertible into common shares, some of which are subject to milestone achievements.

Now, as a result of reaching the first milestone, the company has received 685,004 warrants exercisable at an exercise price of $0.01 per share, while PainReform's  shares are currently trading at approximately $1.91. Following receipt of these warrants, Blade Ranger holds shares and warrants (with a $0.01 exercise price) worth approximately $2 million based on the share price at the time of this announcement.

Blade Ranger's CEO commented:
"The continued success of PainReform's software sales, which led to the maturity of additional warrants, significantly improves the company's financial flexibility and supports the accelerated business development we are driving forward."

The market value of the shares that may be derived from the matured warrants, based on the current share price, is approximately NIS 4.5 million.

View original content:https://www.prnewswire.com/news-releases/blade-ranger-consideration-from-painreform-transaction-continues-to-mature-following-growth-in-software-sales-302466068.html

SOURCE Blade Ranger Ltd.

FAQ

What milestone did Blade Ranger achieve in the PainReform (PRFX) transaction?

Blade Ranger received 685,004 warrants exercisable at $0.01 per share due to increased software sales performance by PainReform, following the March 2025 DeepSolar operations sale agreement.

How many shares and warrants does Blade Ranger own in PainReform (PRFX)?

Blade Ranger owns approximately 9.9% equity in PainReform and received about 3.08 million warrants, with 685,004 warrants now matured and exercisable at $0.01 per share.

What is the current value of Blade Ranger's holdings in PainReform (PRFX)?

Blade Ranger's shares and warrants are worth approximately $2 million based on PainReform's current share price of $1.91, with matured warrants valued at approximately NIS 4.5 million.

When did Blade Ranger sell its DeepSolar operations to PainReform (PRFX)?

Blade Ranger completed the sale of its DeepSolar operations to PainReform in March 2025.