Zivo Bioscience, Inc. announced (NASDAQ:ZIVO) recently announced a major stock acquisition by a major shareholder. Mark E. Strome, through Strome Investment Management LP and Strome Group, Inc., acquired 75,000 shares of Zivo Bioscience common stock on December 26, 2024, at a price of $20.19 per share, for a total consideration of approximately $1.51 million. The stock, which has returned an impressive 1,640% year-to-date according to InvestingPro The data is currently trading near $20.89 and appears to be slightly undervalued based on fair value analysis. This transaction increases the total shares held by reporting entities to 398,683.
In addition, the related transaction included the acquisition of 7,500 common stock warrants, which were exercised at no cost on the same date. These transactions reflect strategic moves by the Strom entities, which own a significant stake in the company.
In other recent news, Zivo Bioscience has made significant steps in its financial operations. The Nevada-based biotechnology company restructured its existing debt with three creditors, issuing unsecured promissory notes totaling about $277,254.38. Participating creditors are Howard Shapiro, Merger Masters Pension Fund, and Financial Trade Advisors Pension Fund, which accepted the notes in exchange for settlement of outstanding debts.
These bonds will be repaid over 24 months starting in November 2024, and carry a nominal interest rate of 1.0% per annum. In the event of a default, creditors have the right to demand immediate repayment of the unpaid principal.
In parallel with the debt restructuring, Zivo Bioscience sold 169,022 shares of its common stock to various accredited investors. These transactions took place between August and October, with shares sold at prices ranging from $8.34 to $16.31, for an average of $10.44 per share. It is worth noting that sales to related parties amounted to 52,802 shares, sold at prices ranging between $8.34 and $15.96, with an average of $9.68 per share.
These latest developments reflect Zivo Bioscience's strategic financial management, providing the company with additional operational flexibility.
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