Bellevue Life Sciences Warrants Exercisable at $11.50
Ticker: OSRHW · Form: 8-K · Filed: Mar 13, 2024 · CIK: 1840425
| Field | Detail |
|---|---|
| Company | Bellevue Life Sciences Acquisition Corp. (OSRHW) |
| Form Type | 8-K |
| Filed Date | Mar 13, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.0001, $11.50, $60,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: warrants, exercisable, dilution
Related Tickers: BLAC
TL;DR
Warrants are live at $11.50, get ready for potential dilution.
AI Summary
Bellevue Life Sciences Acquisition Corp. announced on March 8, 2024, that its redeemable warrants are now exercisable for shares of common stock at an exercise price of $11.50 per share. This action relates to units previously issued, each consisting of one share of common stock, one redeemable warrant, and one right to receive one-tenth of a share of common stock.
Why It Matters
This filing indicates that warrant holders can now convert their warrants into common stock, potentially increasing the number of outstanding shares and impacting the company's capital structure.
Risk Assessment
Risk Level: medium — The exercisability of warrants can lead to dilution of existing shares and increased selling pressure.
Key Numbers
- $11.50 — Warrant Exercise Price (The price at which redeemable warrants can be exercised for common stock.)
Key Players & Entities
- Bellevue Life Sciences Acquisition Corp. (company) — Filer of the 8-K report
- $11.50 (dollar_amount) — Exercise price for redeemable warrants
- March 8, 2024 (date) — Date of the earliest event reported
FAQ
What is the exercise price for the redeemable warrants?
The exercise price for the redeemable warrants is $11.50 per share.
When did the redeemable warrants become exercisable?
The redeemable warrants became exercisable on March 8, 2024.
What does each unit issued by Bellevue Life Sciences Acquisition Corp. consist of?
Each unit consists of one share of common stock, one redeemable warrant, and one right to receive one-tenth of a share of common stock.
What is the par value of the common stock?
The par value of the common stock is $0.00001 per share.
What is the ticker symbol for Bellevue Life Sciences Acquisition Corp.?
The ticker symbol is not explicitly stated in this excerpt, but the filing is for Bellevue Life Sciences Acquisition Corp. (BLAC).
Filing Stats: 762 words · 3 min read · ~3 pages · Grade level 11 · Accepted 2024-03-13 09:00:20
Key Financial Figures
- $0.0001 — LACU NASDAQ Common stock, par value $0.0001 per share BLAC NASDAQ Redeemable
- $11.50 — of common stock at an exercise price of $11.50 per share BLACW NASDAQ Right to r
- $60,000 — sory Note ") in the principal amount of $60,000 to Josh Pan, an individual member of Be
Filing Documents
- form8-k.htm (8-K) — 41KB
- exh10-1.htm (EX-10.1) — 33KB
- 0000898432-24-000224.txt ( ) — 278KB
- blacu-20240308.xsd (EX-101.SCH) — 5KB
- blacu-20240308_def.xml (EX-101.DEF) — 19KB
- blacu-20240308_lab.xml (EX-101.LAB) — 30KB
- blacu-20240308_pre.xml (EX-101.PRE) — 21KB
- form8-k_htm.xml (XML) — 9KB
01. Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement. The information provided in Item 2.03 of this Current Report on Form 8-K is incorporated by reference into this Item 1.01. Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. On March 8, 2024, Bellevue Life Sciences Acquisition Corp. (the " Company ") issued an unsecured promissory note (the " Promissory Note ") in the principal amount of $60,000 to Josh Pan, an individual member of Bellevue Capital Management, LLC, which wholly owns Bellevue Global Life Sciences Investors, LLC, the sponsor of the Company. The Promissory Note is not interest bearing and is payable in full on the earlier of: (i) August 8, 2024 or (ii) the date on which the Company consummates an initial business combination (the " Maturity Date " ) . In the event that the Company does not consummate a business combination on or prior to the time provided in the Company's Amended and Restated Certificate of Incorporation (as subject to extension), Mr. Pan agrees to forgive the principal balance of the Promissory Note, except to the extent of any funds remaining outside of the Company's trust account, if any. The following shall constitute an event of default: (i) a failure to pay the principal within five business days of the Maturity Date and (ii) the commencement of a voluntary or involuntary bankruptcy action. The foregoing description of the Promissory Note is qualified in its entirety by reference to the full text of the Promissory Note, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.
01. Other Events
Item 8.01. Other Events. On March 12, 2024, $60,000 was deposited in the trust account in connection with the extension of the date by which the Company must consummate a business combination from March 14, 2024 to April 15, 2024.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 10.1 Promissory Note, dated March 8, 2024, issued by Bellevue Life Sciences Acquisition Corp. to Josh Pan 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: March 13, 2024 BELLEVUE LIFE SCIENCES ACQUISITION CORP. By: /s/ Kuk Hyoun Hwang Name: Kuk Hyoun Hwang Title: Chief Executive Officer