Pedevco Corp. (NYSE: PED) director reports Series A preferred convertible into 33.7M shares
Rhea-AI Filing Summary
Pedevco Corp. (PED) reported the initial holdings of a reporting person who is a director of the company as of 10/31/2025. The filing shows indirect beneficial ownership of Series A Convertible Preferred Stock that is convertible into 33,727,280 shares of common stock. This preferred stock automatically converts into common stock on a 10-for-1 basis after a twenty-day period following distribution of an information statement to shareholders, which occurred on October 31, 2025. The securities are held of record by J PED, LLC, and the reporting person may be deemed to have voting and dispositive power through interests in Juniper Capital IV, L.P., while disclaiming beneficial ownership beyond any pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Series A Convertible Preferred Stock | -- | -- | -- |
Footnotes (1)
- The Series A Convertible Preferred Stock is not convertible until the expiration of the twenty calendar day period (the "Automatic Conversion Date") commencing on the distribution to the Issuer's shareholders in accordance with Rule 14c-2 of Regulation 14C promulgated under the Securities and Exchange Act of 1934, as amended, of an information statement disclosing, among other things, the approval of such conversion and related matters by the majority stockholders of the Issuer, which occurred on October 31, 2025. The Series A Convertible Preferred Stock have no expiration date, but automatically convert into common stock of the Issuer in a ratio of 10-for-1 on the Automatic Conversion Date. The securities are held of record by J PED, LLC ("J PED"). The Reporting Person may be deemed to have voting and dispositive power over the securities by virtue of its general partner interest in Juniper Capital IV, L.P., which owns 100% of J PED. The Reporting Person disclaims beneficial ownership of the securities except to the extent of its pecuniary interest therein.
FAQ
What does this Form 3 filing for Pedevco Corp. (PED) disclose?
The filing discloses the initial beneficial ownership of a director of Pedevco Corp. (PED), including indirect interests in Series A Convertible Preferred Stock that can convert into 33,727,280 shares of common stock.
What is the conversion ratio of Pedevco's Series A Convertible Preferred Stock?
The Series A Convertible Preferred Stock automatically converts into Pedevco common stock at a 10-for-1 ratio on the Automatic Conversion Date.
When does the automatic conversion of Pedevco (PED) Series A Preferred Stock occur?
The automatic conversion occurs on the Automatic Conversion Date, which is the expiration of a twenty calendar day period starting when an information statement was distributed to shareholders; that distribution occurred on October 31, 2025.
Does the reporting person claim full beneficial ownership of the Pedevco (PED) securities?
No. The reporting person disclaims beneficial ownership of the securities except to the extent of its pecuniary interest in them.
What is the relationship of the reporting person to Pedevco Corp. (PED)?
The reporting person is identified as a director of Pedevco Corp. (PED) in the filing.