Once Upon a Farm (OFRM) director discloses convertible preferred stakes
Rhea-AI Filing Summary
Once Upon a Farm, PBC director Robb Walter IV reported his beneficial ownership of several series of preferred stock that are convertible into the company’s common stock.
His direct holdings include Series B-1, B-2, C-1 and D preferred stock, which are collectively convertible into 16,082, 101,354, 6,657 and 10,210 shares of common stock, respectively. The preferred stock has no expiration date and will automatically convert into common stock for no additional consideration upon the closing of the company’s initial public offering.
Positive
- None.
Negative
- None.
Insider Trade Summary
4 transactions reported
Mixed
4 txns
Insider
ROBB WALTER E IV
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Series B-1 Preferred Stock | -- | -- | -- |
| holding | Series B-2 Preferred Stock | -- | -- | -- |
| holding | Series C-1 Preferred Stock | -- | -- | -- |
| holding | Series D Preferred Stock | -- | -- | -- |
Holdings After Transaction:
Series B-1 Preferred Stock — 16,082 shares (Direct);
Series B-2 Preferred Stock — 101,354 shares (Direct);
Series C-1 Preferred Stock — 6,657 shares (Direct);
Series D Preferred Stock — 10,210 shares (Direct)
Footnotes (1)
- F1. The preferred stock of Once Upon a Farm, PBC (the "Issuer") has no expiration date and is convertible at the reporting person's election into the Issuer's common stock. As of the closing of the Issuer's initial public offering, the preferred stock will automatically convert, for no additional consideration, into common stock of the Issuer.
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FAQ
What does the Once Upon a Farm (OFRM) Form 3 filing show?
The Form 3 shows director Robb Walter IV’s beneficial ownership of several preferred stock series in Once Upon a Farm, PBC. These preferred shares are convertible into common stock and will automatically convert upon the closing of the company’s initial public offering.
Which securities does Robb Walter IV report owning in Once Upon a Farm (OFRM)?
Robb Walter IV reports direct beneficial ownership of Series B-1, Series B-2, Series C-1 and Series D preferred stock of Once Upon a Farm, PBC. Each preferred series is currently convertible into a specified number of the company’s common shares under the stated terms.
Does the preferred stock in Once Upon a Farm (OFRM) have an expiration date?
The preferred stock has no expiration date according to the disclosure. It is convertible at the reporting person’s election into common stock and will also automatically convert into common stock for no additional consideration upon the closing of the company’s initial public offering.
What triggers automatic conversion of OFRM preferred stock into common stock?
Automatic conversion occurs upon the closing of Once Upon a Farm, PBC’s initial public offering. At that time, all reported preferred stock converts into common stock of the issuer for no additional consideration, according to the terms described in the footnote to the filing.
Is the Once Upon a Farm (OFRM) Form 3 a buy or sell transaction?
The Form 3 does not report a new buy or sell transaction; it reports existing beneficial ownership. It lists the director’s holdings in various preferred stock series and their common stock equivalents, as required when someone becomes subject to Section 16 reporting.