Braveheart Bio (BRVE) reveals Jiangsu Hengrui holds 7.42M convertible preferred shares
Rhea-AI Filing Summary
Braveheart Bio, Inc. reports that Jiangsu Hengrui Pharmaceuticals Co., Ltd. is a more-than-10% owner through 7,420,091 shares of non-voting Series A preferred stock. This Preferred Stock is convertible into an equal number of common shares at the holder’s election and has no expiration date. All Preferred Stock will automatically convert into common stock immediately prior to the closing of Braveheart Bio’s initial public offering of its common stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Jiangsu Hengrui Pharmaceuticals Co., Ltd.
Role
10% Owner
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Non-voting Series A preferred stock F1 | -- | -- | -- |
Holdings After Transaction:
Non-voting Series A preferred stock — 7,420,091 shares (Direct)
Footnotes (1)
- F1. The non-voting Series A preferred stock (the "Preferred Stock") of the Issuer are convertible into shares of Common Stock of the Issuer at the holder's election and have no expiration date. All shares of the Preferred Stock will automatically convert into shares of Common Stock immediately prior to the closing of the Issuer's initial public offering of its Common Stock.
Key Figures
Preferred shares held: 7,420,091 shares
Underlying common shares: 7,420,091 shares
2 metrics
Preferred shares held
7,420,091 shares
Non-voting Series A preferred stock held directly by Jiangsu Hengrui Pharmaceuticals Co., Ltd.
Underlying common shares
7,420,091 shares
Common stock underlying the Preferred Stock, convertible at the holder’s election
Key Terms
Non-voting Series A preferred stock, convertible into shares of Common Stock, initial public offering
3 terms
Non-voting Series A preferred stock financial
"The non-voting Series A preferred stock of the Issuer are convertible into shares of Common Stock"
initial public offering financial
"will automatically convert into shares of Common Stock immediately prior to the closing of the Issuer's initial public offering"
An initial public offering (IPO) is when a private company first sells its shares to the public and becomes a stock-listed company. It matters because it allows the company to raise money from a wide range of investors, helping it grow, while giving early shareholders a way to sell some of their ownership.
FAQ
What ownership does Jiangsu Hengrui hold in Braveheart Bio (BRVE)?
Jiangsu Hengrui Pharmaceuticals Co., Ltd. holds 7,420,091 shares of Braveheart Bio’s non-voting Series A preferred stock, representing a more-than-10% ownership position disclosed in this initial insider report.
What type of security does Jiangsu Hengrui own in Braveheart Bio (BRVE)?
Jiangsu Hengrui owns non-voting Series A preferred stock of Braveheart Bio, which is convertible into the company’s common stock on a one-for-one basis at the holder’s election, according to the disclosure.
When will Braveheart Bio’s Preferred Stock automatically convert to common stock?
All non-voting Series A preferred shares will automatically convert into common stock immediately prior to the closing of Braveheart Bio’s initial public offering of its common stock, as described in the footnote.
Does the Braveheart Bio (BRVE) preferred stock held by Jiangsu Hengrui have an expiration date?
No. The non-voting Series A preferred stock held by Jiangsu Hengrui has no expiration date, and remains outstanding until converted into common stock under the terms described.
AI-generated analysis. How Rhea-AI works. Not financial advice.
