Form 4: Provectus Biopharmaceuticals CEO Converts Promissory Note to Preferred Stock

CEO Edward Pershing converted an 8% unsecured convertible promissory note into Series D-1 Convertible Preferred Stock on March 21, 2025.

Summary

• On March 21, 2025, Edward Pershing, CEO of Provectus Biopharmaceuticals, converted an 8% unsecured convertible promissory note into 9,436 shares of Series D-1 Convertible Preferred Stock.
• The conversion occurred at a price of $2.862 per share.
• Each share of Series D-1 Preferred Stock is convertible into 10 shares of the company's common stock.
• The Series D-1 Convertible Preferred Stock will automatically convert into Common Stock on June 20, 2026, unless earlier converted.
• Following the transaction, Pershing directly owns 2,065,000 shares of Series D-1 Convertible Preferred Stock and 1,905,012 shares of Common Stock.

Sentiment

Score: 5

Explanation: Neutral sentiment as it's a standard transaction related to previously agreed terms.

Future Outlook

The Series D-1 Convertible Preferred Stock will automatically convert into Common Stock on June 20, 2026, unless earlier converted into Common Stock in accordance with the terms of the Certificate of Designation for the Series D-1 Convertible Preferred Stock.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

Stakeholder Impact

• The conversion of preferred stock to common stock could potentially dilute existing shareholders' equity.

Key Dates

Keywords

Series D-1 Convertible Preferred Stock, Edward Pershing, CEO, Conversion, Promissory Note, Provectus Biopharmaceuticals, PVCT, Beneficial Ownership