Bellevue Life Sciences Warrants Exercisable at $11.50
Ticker: OSRHW · Form: 8-K · Filed: Apr 11, 2024 · CIK: 1840425
| Field | Detail |
|---|---|
| Company | Bellevue Life Sciences Acquisition Corp. (OSRHW) |
| Form Type | 8-K |
| Filed Date | Apr 11, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.0001, $11.50, $1,200,000, $60,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: warrants, capital-structure, definitive-agreement
TL;DR
Warrants are live at $11.50, expect potential dilution.
AI Summary
Bellevue Life Sciences Acquisition Corp. announced on April 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 a potential for increased share count and capital infusion if warrants are exercised, impacting the company's capital structure and stock liquidity.
Risk Assessment
Risk Level: medium — The exercise of warrants can lead to dilution of existing shares and a change in the company's capital structure.
Key Numbers
- $11.50 — Warrant Exercise Price (The price at which holders can convert warrants into common stock.)
Key Players & Entities
- Bellevue Life Sciences Acquisition Corp. (company) — Registrant
- $11.50 (dollar_amount) — Exercise price for redeemable warrants
- April 8, 2024 (date) — Date of 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.
What does each unit previously issued by Bellevue Life Sciences Acquisition Corp. consist of?
Each unit previously issued consisted of one share of common stock, one redeemable warrant, and one right to receive one-tenth of one 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 date of the earliest event reported in this 8-K filing?
The date of the earliest event reported is April 8, 2024.
What is the SIC code for Bellevue Life Sciences Acquisition Corp.?
The Standard Industrial Classification (SIC) code for Bellevue Life Sciences Acquisition Corp. is 3841, which corresponds to SURGICAL & MEDICAL INSTRUMENTS & APPARATUS.
Filing Stats: 771 words · 3 min read · ~3 pages · Grade level 11.2 · Accepted 2024-04-11 16:20:17
Key Financial Figures
- $0.0001 — ck Market LLC Common stock, par value $0.0001 per share BLAC The Nasdaq Stock Mar
- $11.50 — of common stock at an exercise price of $11.50 per share BLACW The Nasdaq Stock Ma
- $1,200,000 — sory Note ") in the principal amount of $1,200,000 to Bellevue Global Life Sciences Invest
- $60,000 — 8.01. Other Events. On April 9, 2024, $60,000 was deposited in the trust account in c
Filing Documents
- form8-k.htm (8-K) — 39KB
- exh10-1.htm (EX-10.1) — 26KB
- 0000898432-24-000311.txt ( ) — 269KB
- blacu-20240408.xsd (EX-101.SCH) — 5KB
- blacu-20240408_def.xml (EX-101.DEF) — 19KB
- blacu-20240408_lab.xml (EX-101.LAB) — 30KB
- blacu-20240408_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
01
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 April 8, 2024, Bellevue Life Sciences Acquisition Corp. (the " Company ") issued an unsecured promissory note (the " Promissory Note ") in the principal amount of $1,200,000 to Bellevue Global Life Sciences Investors, LLC (" BGLSI "), the sponsor of the Company. The Promissory Note is not interest bearing and is payable in full on the earlier of: (i) December 31, 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), BGLSI 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 April 9, 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 April 15, 2024 to May 14, 2024.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 10.1 Promissory Note, dated April 8, 2024, issued by Bellevue Life Sciences Acquisition Corp. to Bellevue Global Life Sciences Investors, LLC 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: April 11, 2024 BELLEVUE LIFE SCIENCES ACQUISITION CORP. By: /s/ Kuk Hyoun Hwang Name: Kuk Hyoun Hwang Title: Chief Executive Officer