Mar. 24 at 8:19 PM
$INDP New 13D filing from David Lazar. He sold most of his preferred shares. As a result, his beneficial ownership drops to 2,064,000 shares, 47.93%. He also resigned as co-CEO, but he retains his seat on the Board of Directors.
https://www.sec.gov/Archives/edgar/data/1857044/000182912626002642/xslSCHEDULE_13D_X02/primary_doc.xml
Under Item 6 at the bottom of the filing:
He sold to Yun Yao (lead investor) and other purchasers:
• 700,000 shares of Series AAA Preferred Stock (convertible to 105m shares)
• 196,800 shares of Series AA Preferred Stock (convertible into 3.936m shares)
• Lazar retains 103,200 shares of Series AA Preferred Stock (convertible into 2.064m shares).
• Total sale price
$11.2M.
Lazar originally purchased all his preferred shares in Dec for
$6M. So he got
$11.2M and still kept 103.2k Series AA preferred shares. Pretty good swing for him. I guess his work here is done, he is no longer co-CEO. Picked up preferred shares, flipped them, and split.
