Investors in Invacare (OTC:IVCRQ) Holdings Corp (OTC:IVCRQ) witnessed a notable transaction involving the exchange of shares by key stakeholders. On October 29, 2024, Endurant Capital Management LP, PM Manager Fund, SPC-Segregated Portfolio 33, and Pham Quang Minh executed a significant exchange of their holdings in Invacare.
The transaction involved the conversion of 2,431,075 shares of 9.00% Series A Convertible Participating Preferred Stock into Series B Redeemable Preferred Stock. This exchange did not involve a direct purchase or sale for cash consideration but rather a conversion as part of a broader financial restructuring. The transaction resulted in the reporting owners holding 2,431,075 shares of the non-convertible Series B stock, with no remaining shares of the Series A preferred stock.
The exchange reflects strategic financial maneuvers by these investors, who hold significant stakes in Invacare Holdings. The transaction details, including the exchange rate and additional financial adjustments, were outlined in the footnotes of the SEC filing.
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