Capstone Holding Corp. Announces Exercise Of Secured Debt And Interest Conversion Option By Majority Shareholder, BP Peptides, LLC
Capstone Holding Corp. (OTCQB: CAPS) announced that BP Peptides, LLC converted $1,938,746 of accrued interest and debt into 78,333 shares of its common stock at an exercise price of $24.75 per share. This conversion increases Brookstone's total shares to 121,774, representing 77.26% of the company’s total stock. Capstone's operations shifted from biotechnology to managing interests in construction materials and equity interests in Diamond Products. For more details, refer to the 2021 Annual Report.
- BP Peptides' conversion increases their ownership to 77.26%, stabilizing shareholder support.
- The new focus on construction materials could diversify revenue streams.
- The conversion of debt to equity may dilute other shareholders' ownership.
- The discontinuation of drug development signals a significant shift and potential uncertainty in future business performance.
ALSIP, IL / ACCESSWIRE / June 21, 2022 / Capstone Holding Corp. (OTCQB:CAPS) ("the Company")
EXERCISE OF SECURED DEBT AND INTEREST CONVERSION OPTION; ISSUANCE OF 78,333 SHARES OF THE COMPANY'S COMMON STOCK
On June 15, 2022, BP Peptides, LLC ("Brookstone") exercised its right to convert
Please see the Company's 2021 Annual Report filed with the OTCQB Markets for further information.
About Capstone Holding Corp.
Capstone Therapeutics (now Capstone Holding Corp.) was a biotechnology company committed to developing novel therapeutic peptides aimed at helping patients with under-served medical conditions. The drug development business has been discontinued. The Company's primary business activity going forward will be the operations of TotalStone, LLC, a construction materials company, and managing its equity interest in Diamond Products, LLC through its ownership of Capstone Beta, LLC, a member of Diamond Products Holdings, LLC.
Capstone's corporate headquarters is located in Alsip, Illinois. For more information, please visit the Company's website: www.capstonethx.com.
Statements in this press release or otherwise attributable to Capstone regarding our business that are not historical facts are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from predicted results. These risks include the factors discussed in our Annual Report for the fiscal year ended December 31, 2021, and other documents we filed with the U.S. Securities and Exchange Commission or OTCQB Markets.
FOR FURTHER INFORMATION:
Investor Relations
(708) 371-0660
investorinquiries@capstonethx.com
SOURCE: Capstone Therapeutics Corp.
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FAQ
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