February 12, 2024 · Form 4 insider transaction
Gottschalk Max sold an undisclosed number of shares of PMNT at $0.00 per share, a transaction worth N/A. The trade was recorded as conversion of a derivative and disclosed on an SEC Form 4, filed 2 days after the transaction.
The 8% Senior Subordinated Secured Convertible Promissory Note (the "Note") automatically converted into Common Stock upon the closing of the IPO into a number of shares of Common Stock equal to the quotient obtained by dividing (i) the principal amount, plus accrued and unpaid interest, owing under such Note through February 12, 2024 ($247,264.16) by (ii) $4.80 (80% of the IPO price per share of Common Stock).