Bioxytran insider issued 6.6M shares for NDPD Pharma sale
Rhea-AI Filing Summary
Bioxytran, Inc. (BIXT) reported an amended insider transaction for Chief Commercial Officer and director Michael Sheikh. On 10/25/2024, he acquired 6,614,720 common shares of Bioxytran at a price of $0.545 per share, reported as an acquisition. After this transaction, he beneficially owned 8,214,720 shares, held directly. The filing explains that these shares were issued as payment for the sale of NDPD Pharma to Bioxytran, meaning the consideration for that business sale was paid in Bioxytran stock rather than cash.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | preferred | 6,614,720 | $0.545 | $3.61M |
Footnotes (1)
- [object Object]
FAQ
What insider transaction did Bioxytran (BIXT) report for Michael Sheikh?
Bioxytran reported that Chief Commercial Officer and director Michael Sheikh acquired 6,614,720 common shares of the company on 10/25/2024, at a reported price of $0.545 per share.
What is Michael Sheikh’s relationship to Bioxytran (BIXT)?
Michael Sheikh is listed as a director, a 10% owner, and an officer of Bioxytran, serving as Chief Commercial Officer (CCO).
What type of SEC form was filed for this Bioxytran (BIXT) transaction?
The transaction was reported on an amended Form 4/A, which discloses changes in beneficial ownership by company insiders such as officers, directors, and large shareholders.
Was the Bioxytran (BIXT) transaction a purchase on the open market?
No. The filing explains that the 6,614,720 shares were issued as payment for the sale of NDPD Pharma to Bioxytran, rather than being bought in an open-market trade.