PED filing shows 2.80M Series A Preferred at $5.5; 10:1 convert
Rhea-AI Filing Summary
PEDEVCO (PED) reporting persons, including Simon Kukes and The SGK 2018 Revocable Trust, reported acquiring 2,801,814 shares of Series A Convertible Preferred Stock on October 31, 2025 (code A). Each preferred share automatically converts into common stock at a 10‑for‑1 ratio on the “Automatic Conversion Date” following distribution of an information statement disclosing majority stockholder approval that occurred on October 31, 2025. The price of the derivative security was $5.5 per preferred share.
The filing also lists common stock beneficial ownership after the reported transactions: 8,121,950 shares held directly, 51,791,325 shares held indirectly through The SGK 2018 Revocable Trust, and 3,000 shares held indirectly by spouse. The trust is shown as holding 2,801,814 preferred shares following the transaction, corresponding to 28,018,140 underlying common shares under the stated conversion ratio.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Series A Convertible Preferred Stock | 2,801,814 | $5.50 | $15.41M |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- The Convertible Series A 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 Convertible Series A 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.
