Form 4: Elray Resources Converts Preferred Stock to Common Stock in 180 Life Sciences Corp.
SEC Form 4
Elray Resources, Inc. converted its Series B Convertible Preferred Stock into 1,318,000 shares of common stock in 180 Life Sciences Corp.
Summary
- On March 27, 2025, Elray Resources, Inc. converted 1,000,000 shares of Series B Convertible Preferred Stock of 180 Life Sciences Corp. into 1,318,000 shares of common stock.
- The conversion ratio was 1.318 shares of common stock for each share of Series B Convertible Preferred Stock.
- Following the transaction, Elray Resources, Inc. directly owns 1,318,000 shares of common stock.
Sentiment
Score: 5
Explanation: The document describes a standard conversion of preferred stock to common stock, which is neither particularly positive nor negative. It's a neutral event in terms of investment sentiment.
Industry Context
This conversion is a routine transaction related to the company's capital structure. It is common for preferred stock to be converted into common stock, especially when it benefits the holder.
Key Dates
| Date | Description |
|---|---|
| 12/27/2024 | Date Exercisable for Series B Convertible Preferred Stock |
| 03/27/2025 | Date of conversion of Series B Convertible Preferred Stock to Common Stock |
| 04/11/2025 | Date of signature of the Form 4 filing |
Keywords
Form 4, Beneficial Ownership, Elray Resources, 180 Life Sciences Corp, ATNF, Series B Convertible Preferred Stock, Common Stock, Conversion
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