Titan Pharmaceuticals Inc. recently announced a regulatory issue concerning the conversion of its preferred stock. On May 13, 2025, the company received a Notice of Conversion from The Sire Group Ltd. to convert 139,882 shares of Series AA Convertible Preferred Stock into common stock, resulting in the issuance of 150,087 shares. Similarly, Blue Harbour Asset Management L.L.C-FZ converted 79,773 shares of Series B Convertible Preferred Stock into 265,913 common shares. These transactions were exempt from registration under Section 4(a)(2) of the Securities Act of 1933 and were issued with a Rule 144 restrictive legend. The conversions are subject to limitations to prevent acquiring more than the permissible percentage of common stock under Nasdaq rules without shareholder approval.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。