Oragenics, Inc. announced on December 16, 2024, the conversion of its remaining outstanding convertible Series A and Series B Preferred Shares into common stock. This action simplifies the company’s capital structure.
The conversion effectively eliminated approximately $2.35 million in liquidation preference, removing a significant overhang on the company’s stock. Holders of 5,417,000 Series A and 4,050,000 Series B Preferred Shares converted them into approximately 22,000 common shares.
Chief Financial Officer Janet Huffman stated that this conversion is a pivotal step for Oragenics, strengthening its foundation for future growth. The Series A and B Preferred Shares, which carried no voting rights, have now been fully retired.
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