Form 4: Navy Capital Green Management Reduces Stake in CLS Holdings USA Through Redemption Agreement
SEC Form 4 Filing
Navy Capital Green Management and affiliated entities have reduced their holdings in CLS Holdings USA by entering into a Redemption Agreement to sell shares, warrants, and debentures back to the issuer.
Summary
- On September 10, 2024, Navy Capital Green Management, along with affiliated entities, entered into a Redemption Agreement with CLS Holdings USA to redeem their shares of common stock, warrants, and debentures.
- The total repurchase price was $2,000,000 for the warrants and debentures, and $600,000 for the shares.
- The Redemption Agreement aimed to redeem the entirety of the Navy Funds' rights, titles, and interests to the Redeemed Securities.
- The reporting parties disclaim beneficial ownership of the securities except to the extent of their indirect pecuniary interest.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing a transaction. It doesn't convey strong positive or negative sentiment.
Industry Context
Form 4 filings are a routine part of the financial markets, providing transparency into the transactions of company insiders and major shareholders. This filing indicates a change in ownership structure for CLS Holdings USA.
Stakeholder Impact
- The redemption of shares and debentures may impact the ownership structure of CLS Holdings USA.
- The transaction provides liquidity to Navy Capital Green Management and affiliated entities.
Key Dates
| Date | Description |
|---|---|
| 10/31/2018 | Date exercisable for Convertible Notes |
| 12/21/2023 | Date exercisable for Convertible Notes |
| 12/29/2023 | Date of Third Amended and Restated Debenture and date exercisable for Warrant |
| 12/31/2023 | Date of Second Amended and Restated Unsecured Debenture No. CLSH2023-AD6 |
| 01/31/2028 | Expiration date for Convertible Notes |
| 12/29/2026 | Expiration date for Warrant |
| 09/10/2024 | Date of Redemption Agreement and transaction date |
| 09/12/2024 | Date of signatures on Form 4 |
Keywords
Redemption Agreement, CLS Holdings USA, Navy Capital Green Management, Beneficial Ownership, Form 4, Securities Redemption, Debentures, Warrants, Shares
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