Quarterly report [Sections 13 or 15(d)]

EQUITY

v3.26.1
EQUITY
 3 Months Ended
Mar. 31, 2026
Equity [Abstract]  
EQUITY

13. EQUITY

 

On October 10, 2024, the Company, Ampersand 2018 Limited Partnership (“Ampersand”) and 1315 Capital II, L.P. (“1315 Capital”, and together with Ampersand, the “Investors”) entered into an Exchange Agreement (the “Exchange Agreement”) pursuant to which the Investors exchanged (the “Exchange”) an aggregate of 47,000 shares of the Company’s Series B Preferred Stock, comprised of 28,000 shares of Series B Preferred Stock held by Ampersand and 19,000 shares of Series B Preferred Stock held by 1315 Capital, which represented all of the Company’s issued and outstanding Series B Preferred Stock, for 47,000 newly created shares of Series C Preferred Stock, at an issuance price per share of $1,000. In the Exchange, Ampersand received 28,000 shares of Series C Preferred Stock and 1315 Capital received 19,000 shares of Series C Preferred Stock. The Company recorded approximately $0.2 million in issuance costs related to this transaction.

 

On January 20, 2026, the Company announced that all shares of Series C Preferred Stock were converted into Common Stock, resulting in the issuance of approximately 23,267,327 shares of Common Stock (calculated as $1,000 stated value per preferred share divided by the $2.02 conversion price).

 

Of this amount, 1315 Capital owns approximately 9,405,941 shares of Common Stock, or approximately 34% of Interpace’s outstanding Common Stock, and Ampersand owns 13,861,386 shares of Common Stock, or approximately 50% of Interpace’s outstanding Common Stock, in both cases subject to change in connection with subsequent issuance activity and public float changes.