For a clinical-stage biotech wrestling with the complexities of drug development, a cleaner balance sheet can be just as critical as promising lab data. Lakewood-Amedex Biotherapeutics has taken a definitive step in that direction, completing a redemption that removes a significant layer of financial overhang.
Lakewood-Amedex Biotherapeutics Inc. (NASDAQ:LABT) announced it has finalized the redemption of every outstanding share of its Series C Convertible Preferred Stock. The transaction, executed under a redemption agreement dated November 2, 2026, with Shakawe Capital LLC, involved the repurchase of 127,097 Series C shares for a total cash payment of $1,270,970, funded entirely from the company’s existing cash reserves.
With this move, the Sarasota, Florida-based company has effectively simplified its capital structure. No Series C Preferred Stock remains in circulation, meaning no additional common shares can be issued through conversion of that instrument. Furthermore, the company now carries zero preferred stock and no outstanding debt from borrowed money, and all financing restrictions tied to the Series C shares have been lifted.
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“Completing this redemption simplifies our capital structure and eliminates the potential for further dilution from conversion of the Series C Preferred Stock,” said Kelvin Cooper, Ph.D., Chief Executive Officer of Lakewood-Amedex Biotherapeutics. “It also removes the financing restrictions associated with that instrument, giving us greater financial flexibility as we continue to advance our development programs.”
Lakewood-Amedex is a clinical-stage biotechnology company focused on developing a novel class of fast-acting, broad-spectrum antimicrobials known as the Bisphosphocin® class. These are designed to combat infectious diseases and reduce the threat posed by antibiotic-resistant bacterial strains, including MRSA and VRE. For more information, visit https://lakewoodamedex.com.
The company is also a B2i Digital Featured Company. See the company’s in-depth profile at: https://b2idigital.com/lakewood-amedex-biotherapeutics-inc-1
Why it matters: By extinguishing its preferred stock and borrowed-money debt in one stroke, Lakewood-Amedex has removed two major sources of potential dilution and financial constraint. This cleaner balance sheet gives the company more runway and negotiating leverage as it pushes its Bisphosphocin® platform toward clinical milestones, though the use of cash on hand for the redemption also reduces its immediate liquidity.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the anticipated benefits of the redemption of the Series C Preferred Stock, including its effect on the Company’s capital structure, potential dilution and financial flexibility; the Company’s ability to obtain additional financing; and the Company’s clinical development plans, regulatory strategy, anticipated trial timing, potential regulatory submissions or approvals, and the potential benefits, safety, efficacy and commercial potential of its Bisphosphocin® platform and product candidates. These statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially, including risks that the anticipated benefits of the redemption may not be realized; the use of cash to fund the redemption may reduce the Company’s liquidity and cash runway; and the Company may be unable to obtain additional financing on acceptable terms or at all; clinical trials may not be initiated, completed or successful on expected timelines or at all; preclinical or clinical results may not be predictive of future results; product candidates may not demonstrate safety or efficacy or receive regulatory approval; and risks related to manufacturing, supply, financing and other matters described in the Company’s filings with the Securities and Exchange Commission, including under “Risk Factors” in its most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. Forward-looking statements speak only as of the date of this press release, and the Company undertakes no obligation to update them except as required by law.
Contact:
Investor Relations
Tiberend Strategic Advisors, Inc.
David Irish
(231) 632-0002
dirish@tiberend.com
Media Relations
Tiberend Strategic Advisors, Inc.
Casey McDonlad
(646) 577-8520
cmcdonald@tiberend.com
SOURCE Lakewood-Amedex Biotherapeutics Inc.
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