SARASOTA – November 05, 2026 -- Lakewood-Amedex Biotherapeutics Inc. (NASDAQ: LABT) paid $1,270,970 in cash to redeem all 127,097 remaining shares of its Series C Convertible Preferred Stock, leaving the clinical-stage company with no preferred equity outstanding.
Redemption with Shakawe Capital closes under a November 2 agreement
The transaction was executed under a redemption agreement dated November 2, 2026, with Shakawe Capital LLC. The company funded the payment from cash on hand.
Conversion dilution risk is eliminated
No Series C shares remain outstanding, so no additional common shares will be issuable upon conversion. The redemption also removes all restrictions tied to the instrument. Lakewood-Amedex reports no outstanding indebtedness for borrowed money.
CEO Kelvin Cooper said the move "simplifies our capital structure" and gives the company greater financial flexibility as it advances its development programs.
Cash outlay may shorten the runway
The company's forward-looking statements caution that using cash for the redemption may reduce liquidity and cash runway. They also flag that Lakewood-Amedex may be unable to obtain additional financing on acceptable terms, or at all.
Lakewood-Amedex is developing the Bisphosphocin class of broad-spectrum antimicrobials. The drugs target antibiotic-resistant bacterial strains, including MRSA and VRE. Its forward-looking statements cite clinical trial timing, regulatory strategy and potential submissions as areas of risk, and none of these has been quantified.