IGC Pharma executed two insider Stock Purchase Agreements on Jun 30 2026, converting a total of $1,154,210 owed to executives into equity at $0.27 per share. The Company issued 2,226,475 shares to CEO Ram Mukunda for $601,148 of obligations and 2,048,378 shares to PFO Claudia Grimaldi for $553,062, with no cash outlays. Approved by independent directors and the Audit Committee, the transactions reduce liabilities and boost stockholders' equity. The privately placed shares were issued under Section 4(a)(2) and are subject to transfer restrictions.
Agreement 1: IGC Pharma Issues Shares to CEO for $601K Debt Cancellation at $0.27
- Agreement type: Stock Purchase Agreement for insider debt-to-equity conversion
- Counterparty: Ram Mukunda
- Signed / Effective: Jun 30 2026 / same
- Duration / Termination: At will
- Reason: Convert insider advances to equity and strengthen balance sheet
Agreement 2: IGC Pharma Swaps $553K Owed to PFO for Equity at $0.27 Per Share
- Agreement type: Stock Purchase Agreement for insider debt-to-equity conversion
- Counterparty: Claudia Grimaldi
- Signed / Effective: Jun 30 2026 / same
- Duration / Termination: At will
- Reason: Reduce payables and strengthen balance sheet with insider equity conversion
Original SEC Filing:
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