Jul. 30 at 12:27 PM
$INDP The Notes from the previous offering were converted into 545,598 shares at
$8.3024.
https://www.sec.gov/ix?doc=/Archives/edgar/data/1857044/000164117225021377/form8-k.htm
"In accordance with the terms of the Notes, on July 27, 2025 (the “Conversion Date”), the Notes were automatically converted into an aggregate of 545,598 shares (the “Conversion Shares”) of the Company’s common stock, par value
$0.01 per share (the “Common Stock”), based on a conversion price of
$8.3024"
In addition, Note holders were given an additional 1,384,722 warrants at an exercise price of
$8.3024:
"In connection with the automatic conversion of the Notes, the Company issued to the Purchasers Warrants to purchase an aggregate of 1,384,722 shares of Common Stock exercisable at
$8.3024 per share and with a term ending on July 27, 2030. "
After the RS, INDP had approx 572k outstanding shares. With the Note conversion, they now have approx 1.1m outstanding.
Meckler (CEO) filed a Form 4 to report he received 6,068 shares from the Note conversion plus 12,136 warrants.
