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RiskOn International | 3: Initial statement of beneficial ownership of securities-Director Horne William B.

SEC announcement ·  Feb 7 07:33
Summary by Futu AI
William B. Horne, a director and 10% owner of RiskOn International, Inc., filed an Initial Statement of Beneficial Ownership of Securities with the SEC on February 6, 2024. The filing, required under Section 16(a) of the Securities Exchange Act of 1934, details Horne's acquisition of 250 shares of RiskOn International's Series C Convertible Preferred Stock. This transaction is part of a Share Exchange Agreement involving Ault Alliance, Inc., BitNile.com, Inc., and certain minority shareholders, including Horne. The Series C stock, acquired in exchange for 250,000 shares of BitNile.com, Inc., is convertible into common stock at a rate determined by a stated value of $10,000 divided by a conversion price of $7.50, subject to ownership limitations. The Series C stock has no expiration date and is not convertible until one day after a record date for shareholder approval. Additionally, the conversion price may be adjusted, particularly in the event of a qualified financing of at least $25 million at a lower share price.
William B. Horne, a director and 10% owner of RiskOn International, Inc., filed an Initial Statement of Beneficial Ownership of Securities with the SEC on February 6, 2024. The filing, required under Section 16(a) of the Securities Exchange Act of 1934, details Horne's acquisition of 250 shares of RiskOn International's Series C Convertible Preferred Stock. This transaction is part of a Share Exchange Agreement involving Ault Alliance, Inc., BitNile.com, Inc., and certain minority shareholders, including Horne. The Series C stock, acquired in exchange for 250,000 shares of BitNile.com, Inc., is convertible into common stock at a rate determined by a stated value of $10,000 divided by a conversion price of $7.50, subject to ownership limitations. The Series C stock has no expiration date and is not convertible until one day after a record date for shareholder approval. Additionally, the conversion price may be adjusted, particularly in the event of a qualified financing of at least $25 million at a lower share price.
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