Freenome, Inc. (FRNM) ex-director converts 30,000 shares in merger
Rhea-AI Filing Summary
Freenome, Inc. reported that former director Kenneth Song converted 30,000 Class B Ordinary Shares into 30,000 shares of Common Stock on July 20, 2026, in connection with its business combination with Old Freenome. After these conversions, he holds 30,000 Common shares and no remaining Class B shares.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 30,000 shares
Net Buy
2 txns
Insider
SONG KENNETH
Role
Insider
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Conversion | Class B Ordinary Shares F1 | 30,000 | -- | -- |
| Conversion | Common Stock F1 | 30,000 | -- | -- |
Holdings After Transaction:
Class B Ordinary Shares — 0 shares (Direct);
Common Stock — 30,000 shares (Direct)
Footnotes (1)
- F1. Pursuant to the Business Combination Agreement, dated December 5, 2025 and amended on July 20, 2026 by and among the Issuer, Freenome Holdings, Inc. ("Old Freenome"), StarNet Merger Sub I, Corp., a wholly-owned subsidiary of the Issuer and StarNet Merger Sub II, LLC, a wholly owned subsidiary of the Issuer (the "BCA"), on July 20, 2026 (the "Closing Date"), the Issuer consummated its business combination with Old Freenome (the "Business Combination"). In connection with the closing of Business Combination, the Issuer's Class B Ordinary Shares converted into Class A Ordinary Shares on a one-to-one basis and subsequently converted into shares of Common Stock on a one-to-one basis.
Key Figures
Class B shares converted: 30,000 shares
Common Stock received: 30,000 shares
Class B holdings after conversion: 0 shares
+1 more
4 metrics
Class B shares converted
30,000 shares
Class B Ordinary Shares converted into Common Stock on July 20, 2026
Common Stock received
30,000 shares
Common Stock issued upon conversion of Class B Ordinary Shares
Class B holdings after conversion
0 shares
Derivative Class B Ordinary Share position following conversion
Common Stock holdings after conversion
30,000 shares
Direct Common Stock ownership reported after the transactions
Key Terms
Business Combination Agreement, Class B Ordinary Shares, Class A Ordinary Shares, Common Stock
4 terms
Business Combination Agreement regulatory
"Pursuant to the Business Combination Agreement, dated December 5, 2025..."
A business combination agreement is a detailed contract that lays out the terms for two companies to join together—covering price, how ownership will be split, the steps needed to close the deal, and what each side promises to do or avoid before closing. For investors it matters because the agreement determines potential changes in value, control, timing, and risk exposure—think of it like the playbook for a merger that shows who wins, who pays, and what could still derail the plan.
Common Stock financial
"subsequently converted into shares of Common Stock on a one-to-one basis."
Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What did Kenneth Song report in Freenome (FRNM)'s Form 4 filing?
He reported converting 30,000 Class B Ordinary Shares into 30,000 shares of Common Stock. The conversion occurred on July 20, 2026, in connection with Freenome’s business combination, leaving him with 30,000 Common shares and no remaining Class B Ordinary Shares.
Was Kenneth Song’s Freenome (FRNM) Form 4 transaction an open-market trade?
No, the Form 4 shows a conversion of derivative securities, not an open-market purchase or sale. Class B Ordinary Shares converted into Common Stock as part of Freenome’s business combination, with no per-share trading price reported in the filing.