DYADIC trust alters note, sells DYAI shares
DYADIC INTERNATIONAL INC reported insider activity by the Francisco Trust under agreement dated February 28, 1996, a ten percent owner.
Rhea-AI Filing Summary
DYADIC INTERNATIONAL INC reported insider activity by the Francisco Trust under agreement dated February 28, 1996, a ten percent owner. The trust received an 8.0% senior secured convertible promissory note initially convertible into 558,659 common shares at $1.79 per share, later amended to allow conversion into a total of 952,381 shares through lower conversion prices of $1.40 and $1.05 per share. Over multiple dates from June 2024 through January 2025, the trust also completed open-market sales totaling 172,864 common shares at prices between $1.80 and $2.43 per share, and reported direct ownership of 3,375,664 common shares after the most recent sale.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 385,795 shares
Net Buy
10 txns
Insider
Francisco Trust under agreement dated February 28, 1996
Role
10% Owner
Bought
558,659 shs ($0.00)
Sold
172,864 shs ($344K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | Common Stock | 238,095 | $0.00 | $0.00 |
| Sale | Common Stock | 15,000 | $2.0149 | $30K |
| Sale | Common Stock | 20,000 | $1.9229 | $38K |
| Sale | Common Stock | 40,000 | $1.9768 | $79K |
| Sale | Common Stock | 5,100 | $1.8024 | $9K |
| Sale | Common Stock | 41,143 | $1.8367 | $76K |
| Sale | Common Stock | 25,281 | $1.8725 | $47K |
| Other | Common Stock | 155,627 | $0.00 | $0.00 |
| Sale | Common Stock | 26,340 | $2.4264 | $64K |
| Purchase | Common Stock | 558,659 | $0.00 | $0.00 |
Holdings After Transaction:
Common Stock — 2,225,326 contracts (Direct);
Common Stock — 3,375,664 shares (Direct)
Footnotes (4)
- F1. On March 8, 2024, the issuer issued an 8.0% senior secured convertible promissory note (the "Note") to the reporting person. The Note was convertible at $1.79 per share, into a total of 558,659 shares of the issuer's common stock, at any time prior to March 8, 2027.
- F2. The initial expiration date was March 8, 2027. The Note was subsequently amended such that, as of the date hereof, the expiration date is December 31, 2027.
- F3. On October 4, 2024, the Note was amended to reduce the conversion price to $1.40 per share, such that the Note, as amended, was convertible into an additional 155,627 shares of the issuer's common stock, for total of 714,286 shares of the issuer's common stock.
- F4. On December 23, 2025, the Note, as amended, was amended again to reduce the conversion price to $1.05 per share, such that the Note, as amended, was convertible into an additional 238,095 shares of the issuer's common stock, for a total of 952,381 shares of the issuer's common stock.
Key Figures
Initial convertible shares: 558,659 shares
Additional shares from Oct 2024 amendment: 155,627 shares
Additional shares from Dec 2025 amendment: 238,095 shares
+5 more
8 metrics
Initial convertible shares
558,659 shares
Common stock issuable from note at $1.79 per share
Additional shares from Oct 2024 amendment
155,627 shares
From reduced conversion price of $1.40 per share
Additional shares from Dec 2025 amendment
238,095 shares
From reduced conversion price of $1.05 per share
Total shares convertible under note
952,381 shares
Total common stock after all note amendments
Total shares sold
172,864 shares
Aggregate open-market sales from Jun 2024 to Jan 2025
Sale price range
$1.80–$2.43 per share
Prices across reported open-market sales
Shares held after latest sale
3,375,664 shares
Direct common stock ownership after Jan 7, 2025 sale
Note interest rate
8.0%
Senior secured convertible promissory note coupon
Key Terms
8.0% senior secured convertible promissory note, conversion price, open-market sale, ten percent owner, +1 more
5 terms
8.0% senior secured convertible promissory note financial
"the issuer issued an 8.0% senior secured convertible promissory note (the "Note") to the reporting person"
conversion price financial
"the Note was amended to reduce the conversion price to $1.40 per share"
The conversion price is the fixed price at which a convertible security, like a bond or preferred stock, can be exchanged for shares of common stock. It acts like a set rate that determines how many shares an investor can receive if they choose to convert their investment. This helps investors understand the value and potential benefits of converting their securities into company shares.
open-market sale financial
"transaction_action": "open-market sale""
An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.
ten percent owner financial
""is_ten_percent_owner": 1"
convertible promissory note financial
"The Note was convertible at $1.79 per share, into a total of 558,659 shares"
A convertible promissory note is a loan a company takes now that can later be turned into shares instead of being repaid in cash. Think of it as lending money with the option to accept ownership in the business down the road; that matters to investors because it affects who gets paid first, how much ownership existing shareholders keep, and the company’s future valuation and cash needs. Terms such as conversion price, interest and maturity determine the financial impact.
FAQ
What insider transactions did the Francisco Trust report in DYADIC INTERNATIONAL INC (DYAI)?
The Francisco Trust reported a mix of transactions, including open-market sales totaling 172,864 common shares and amendments to a convertible promissory note now convertible into up to 952,381 DYADIC INTERNATIONAL INC common shares.
What is the size and key terms of the DYADIC INTERNATIONAL INC convertible note held by the Francisco Trust?
The trust holds an 8.0% senior secured convertible promissory note initially convertible into 558,659 shares at $1.79 per share, later amended to reduce conversion prices and increase the total potential common shares to 952,381.
When were the conversion terms of the DYADIC INTERNATIONAL INC note amended for the Francisco Trust?
The note’s conversion terms were amended on October 4, 2024 to reduce the conversion price to $1.40 per share, and again on December 23, 2025 to reduce the price to $1.05 per share, increasing total convertible shares.
What was the original expiration date of the DYADIC INTERNATIONAL INC convertible note held by the Francisco Trust?
The convertible note originally expired on March 8, 2027, but was later amended so that, as of the filing date, the expiration date had been extended to December 31, 2027, lengthening the conversion period for the trust.
AI-generated analysis. How Rhea-AI works. Not financial advice.
