Joseph M. Spaziano, the Chief Operating Officer of RiskOn International, filed an Initial Statement of Beneficial Ownership with the SEC on February 6, 2024. The filing, required under Section 16(a) of the Securities Exchange Act of 1934, indicates that Spaziano has acquired beneficial ownership of securities in the company. Specifically, he has obtained 62.50 shares of RiskOn International's Series C Convertible Preferred Stock, which are convertible into 83,333 shares of common stock at a price of $7.50 per share. This transaction is part of a Share Exchange Agreement involving RiskOn International, Ault Alliance, Inc., and certain minority shareholders of BitNile.com, Inc., including Spaziano. The Series C stock acquired by Spaziano is not immediately convertible; it will become convertible one day after the record date...Show More

Joseph M. Spaziano, the Chief Operating Officer of RiskOn International, filed an Initial Statement of Beneficial Ownership with the SEC on February 6, 2024. The filing, required under Section 16(a) of the Securities Exchange Act of 1934, indicates that Spaziano has acquired beneficial ownership of securities in the company. Specifically, he has obtained 62.50 shares of RiskOn International's Series C Convertible Preferred Stock, which are convertible into 83,333 shares of common stock at a price of $7.50 per share. This transaction is part of a Share Exchange Agreement involving RiskOn International, Ault Alliance, Inc., and certain minority shareholders of BitNile.com, Inc., including Spaziano. The Series C stock acquired by Spaziano is not immediately convertible; it will become convertible one day after the record date for shareholder approval of the Share Exchange Agreement. The conversion is also subject to a 4.99% beneficial ownership limitation and a 19.9% limitation imposed by the Nasdaq Stock Market rules without shareholder approval. Additionally, the conversion price may be adjusted, including a potential decrease if RiskOn International closes a qualified financing of at least $25 million at a per-share price lower than the current conversion price.