GVIC exercises 78,425 Fluent pre-funded warrants
Fluent, Inc. insider filings show entities associated with Global Value Investment Corp. (GVIC) exercising pre-funded warrants into common stock.
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Form Type
4
Rhea-AI Filing Summary
Fluent, Inc. insider filings show entities associated with Global Value Investment Corp. (GVIC) exercising pre-funded warrants into common stock. GVIC exercised 78,425 pre-funded warrants on a cashless basis at an exercise price of $0.0005 per share, increasing its indirect holdings to 3,219,175 shares of common stock. The filing also records a small internal reallocation of 9 shares and indicates that separate warrants for 78,425 underlying shares at an exercise price of $2.20 remain outstanding, exercisable following stockholder approval of the warrant offering on June 17, 2026 and expiring three years from issuance.
Insider Trade Summary
78,425 shares exercised/converted
Exercise
5 txns
Insider
GLOBAL VALUE INVESTMENT CORP., GEYGAN JEFFREY RICHART, GEYGAN JAMES, Wilke Stacy, Geygan Kathleen, Rice Shawn G
Role
10% Owner | Insider | Director, 10% Owner | Insider | Insider | Insider
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Pre-Funded Warrants | 78,425 | $0.00 | $0.00 |
| Exercise | Common Stock | 78,425 | $0.0005 | $39.21 |
| Other | Common Stock | 9 | $0.00 | $0.00 |
| holding | Warrants | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Pre-Funded Warrants — 0 contracts (Indirect, By Global Value Investment Corporation);
Common Stock — 3,219,166 shares (Indirect, By Global Value Investment Corporation);
Warrants — 78,425 contracts (Indirect, By Global Value Investment Corporation);
Common Stock — 9,385 shares (Direct)
Footnotes (7)
- F1. These securities are held in one or more accounts managed indirectly by Global Value Investment Corporation or its subsidiary or its affiliated persons/entities (collectively, "GVIC"). GVIC may be deemed to have beneficial ownership of these securities because it serves as the investment manager and/or investment advisor to separately managed accounts, investment partnerships, and/or individuals. The reporting person disclaims beneficial ownership in the securities except to the extent of his pecuniary interest, if any, and this report shall not be deemed to be an admission that the reporting person is the beneficial owner of such securities for the purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.
- F2. In addition to Global Value Investment Corp, a Delaware corporation ("GVIC"), this Form 4 is being filed jointly by Jeffrey R. Geygan, a citizen of the United States of America, James P. Geygan, a citizen of the United States of America, Stacy A. Wilke, a citizen of the United States of America, Kathleen M. Geygan, a citizen of the United States of America, and Shawn G. Rice, a citizen of the United States of America, each of whom has the same business address as GVIC. GVIC beneficially owns the shares of common stock, par value $0.0005 per share ("Common Stock"), of Fluent, Inc. reported on this Form 4.
- F3. In accordance with Instruction 4(b)(iv), the entire amount of Common Stock held by GVIC is reported herein. Common Stock reported as indirectly owned by GVIC includes shares owned by Jeffrey R. Geygan, James P. Geygan, Stacy A. Wilke, Kathleen M. Geygan, and Shawn G. Rice.
- F4. The Reporting Person exercised the pre-funded warrants on a cashless basis.
- F5. The Warrants are exercisable following stockholder approval of the offering of the Warrants on June 17, 2026.
- F6. The Warrants will expire three years from the date of issuance.
- F7. The pre-funded warrants terminated when exercised in full. The pre-funded warrants were exercised on June 24, 2026.
Key Figures
Pre-funded warrants exercised: 78,425 shares
Exercise price (pre-funded warrants): $0.0005 per share
Indirect common stock holdings: 3,219,175 shares
+3 more
6 metrics
Pre-funded warrants exercised
78,425 shares
Exercised into common stock on June 24, 2026
Exercise price (pre-funded warrants)
$0.0005 per share
Cashless exercise into Fluent common stock
Indirect common stock holdings
3,219,175 shares
Fluent common stock held indirectly after transactions
Remaining warrants underlying shares
78,425 shares
Underlying Fluent common stock for outstanding warrants
Exercise price (remaining warrants)
$2.20 per share
Exercise price for outstanding Fluent warrants
Restructuring transaction size
9 shares
Other acquisition or disposition (Code J) of common stock
Key Terms
pre-funded warrants, cashless basis, beneficial ownership, Section 16 of the Securities Exchange Act of 1934, +2 more
6 terms
pre-funded warrants financial
"The Reporting Person exercised the pre-funded warrants on a cashless basis."
Pre-funded warrants are financial instruments that give investors the right to purchase a company's stock at a set price, but with most or all of the purchase price paid upfront. They function like a coupon or gift card for stock, allowing investors to buy shares later at a fixed price, which can be beneficial if they want to avoid future price increases. This makes them important for investors seeking flexibility and certainty in their investment plans.
cashless basis financial
"The Reporting Person exercised the pre-funded warrants on a cashless basis."
An agreement executed on a cashless basis lets a holder convert or exercise a security (like options, warrants, or conversion rights) without paying money upfront; instead the holder receives a smaller number of shares equal in value to what the cash would have purchased. Think of trading a coupon for fewer slices of a cake rather than handing over cash for the full slice. For investors, it affects how much ownership and dilution occur and avoids immediate cash outlays.
beneficial ownership financial
"GVIC may be deemed to have beneficial ownership of these securities because it serves as the investment manager and/or investment advisor."
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
Section 16 of the Securities Exchange Act of 1934 regulatory
"this report shall not be deemed to be an admission that the reporting person is the beneficial owner of such securities for the purposes of Section 16 of the Securities Exchange Act of 1934, as amended"
A provision of federal securities law that requires company insiders—directors, officers and large shareholders—to publicly report their stock holdings and trades and to surrender any “short-swing” profits from purchases and sales within a six-month window. It acts like a rule that forces leaders to announce their trades and prevents quick buy-sell windfalls, giving investors transparency into insider activity and reducing opportunities for unfair gain.
separately managed accounts financial
"it serves as the investment manager and/or investment advisor to separately managed accounts, investment partnerships, and/or individuals."
A separately managed account is an investment portfolio owned by a single investor but professionally managed to that investor’s specific goals and preferences, rather than pooled with other clients’ money. It matters to investors because it offers greater customization, tax control and transparency—like hiring a personal chef instead of eating from a shared buffet—though it often requires higher minimums and can have different fee and liquidity implications.
stockholder approval regulatory
"The Warrants are exercisable following stockholder approval of the offering of the Warrants on June 17, 2026."
Stockholder approval is formal consent given by a company’s shareholders, usually through a vote at a meeting or by proxy, for major actions such as mergers, asset sales, changes to corporate structure, or amendments to governance rules. Investors pay attention because the vote can enable or block steps that materially change a company’s direction, ownership or value—like neighbors voting to allow a major renovation that would alter a building’s use and worth.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did Global Value Investment Corp. report in Fluent (FLNT)?
Global Value Investment Corp.-related accounts exercised 78,425 pre-funded warrants into Fluent common stock. The exercise was on a cashless basis at a $0.0005 per share exercise price, converting derivatives into equity without an open-market purchase or sale.
What are the terms of the remaining Fluent (FLNT) warrants held by GVIC?
GVIC-related entities continue to hold warrants linked to 78,425 underlying Fluent common shares at a $2.20 exercise price. These warrants become exercisable following stockholder approval of the warrant offering on June 17, 2026 and will expire three years from issuance.
Were the Fluent (FLNT) pre-funded warrants exercised for cash by GVIC?
No. The pre-funded warrants were exercised on a cashless basis, as disclosed in the footnotes. This means the underlying Fluent shares were received without a separate cash outlay at the time of exercise beyond the minimal exercise price.
AI-generated analysis. How Rhea-AI works. Not financial advice.
