Summary by Futu AI
David E. Lazar, a private investor with dual citizenship in Portugal and Israel, has filed a Schedule 13D with the U.S. Securities and Exchange Commission (SEC) on January 30, 2024, indicating a significant acquisition of shares in Minim, Inc., a technology company listed on the Nasdaq. Lazar has reported beneficial ownership of approximately 51.0% of Minim's common stock, which includes 1,472,867 shares with shared voting power under a Voting Agreement. The filing details a Securities Purchase Agreement (SPA) dated January 23, 2024, where Lazar purchased 5,600,000 shares with personal funds amounting to approximately $2.8 million. Additionally, Lazar was granted 25,000 shares under the company's Non-Employee Directors Compensation Plan. The SPA also involves the issuance of warrants and convertible preferred stock, subject to stockholder approval, which could...Show More