Form 4: LogicMark Director John Pettitt Reports Acquisition of Series A Common Stock Purchase Warrants Due to Anti-Dilution Provisions

Director John Pettitt reports acquiring Series A common stock purchase warrants due to anti-dilution provisions triggered by a securities issuance by LogicMark at $0.59 per share.

Summary

• John Pettitt, a director of LogicMark, Inc. (LGMK), filed a Form 4 on February 20, 2025, reporting a transaction related to Series A common stock purchase warrants.
• The transaction occurred on February 18, 2025, and involved the acquisition of 11,238 warrants.
• This acquisition was triggered by anti-dilution provisions in the warrants, which were activated when LogicMark issued securities at an effective per share price of $0.59.
• As a result, the exercise price of the warrants decreased to $0.59, and the number of shares issuable upon exercise increased proportionally.
• The aggregate exercise price of the warrants remained the same after the adjustment.
• Following the reported transaction, Pettitt beneficially owns 16,948 derivative securities.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing related to warrant adjustments. It doesn't inherently convey positive or negative sentiment, but rather reflects a contractual obligation.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. Anti-dilution provisions are common in warrants to protect investors from the impact of subsequent equity issuances at lower prices.

Stakeholder Impact

• The adjustment of the warrants could have a minor dilutive effect on existing shareholders, but it is a consequence of pre-existing agreements.

Key Dates

Keywords

Form 4, LogicMark, LGMK, John Pettitt, Series A Common Stock Purchase Warrants, Anti-dilution, Director, Beneficial Ownership, Securities