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RiskOn International | 3: Initial statement of beneficial ownership of securities-Director SMITH ROBERT O

SEC announcement ·  Feb 2 21:52
Summary by Moomoo AI
Robert O. Smith, a director and 10% owner of RiskOn International, filed an Initial Statement of Beneficial Ownership of Securities with the SEC on February 2, 2024. The filing, required under Section 16(a) of the Securities Exchange Act of 1934, details Smith's acquisition of 5 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 Smith. The Series C stock, acquired in exchange for 5,000 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 certain ownership limitations. The conversion rights are contingent upon shareholder approval and...Show More
Robert O. Smith, a director and 10% owner of RiskOn International, filed an Initial Statement of Beneficial Ownership of Securities with the SEC on February 2, 2024. The filing, required under Section 16(a) of the Securities Exchange Act of 1934, details Smith's acquisition of 5 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 Smith. The Series C stock, acquired in exchange for 5,000 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 certain ownership limitations. The conversion rights are contingent upon shareholder approval and are not exercisable until one day after the record date for such approval. Additionally, the Series C stock has no expiration date and the conversion price may be adjusted under specific conditions, including a potential decrease if RiskOn International closes a qualified financing of at least $25 million at a lower share price.

This announcement is a separate document:

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