Zivo Bioscience, Inc. (NASDAQ:ZIVO) recently reported a significant asset acquisition by a major shareholder. Mark E. Strome, through Strome Investment Management LP and Strome Group, Inc., acquired 75,000 shares of Zivo Bioscience's common stock on December 26, 2024, at a price of $20.19 per share, approximately 1.51 million of dollars. The stock, which has delivered an impressive 1,640% year-to-date return according to the report InvestingPro data, it is currently trading near $20.89 and appears to be slightly undervalued based on Fair Value analysis. This transaction increases the total shares of the reporting entities to 398,683.
Additionally, a related transaction included the acquisition of 7,500 common stock purchase warrants, which were exercised at no cost on the same date. These transactions represent strategic moves by Strome entities, which play a significant role in the company.
In other recent news, Zivo Bioscience has made a significant move in its financial operations. The Nevada-based company restructured its existing debt with three creditors, issuing unsecured notes worth approximately $277,254.38. Creditors involved are Howard Shapiro, the Merger Masters Pension Fund, and the Financial Trading Consultants Pension Fund, who accepted the notes to pay outstanding debts.
The notes will be repaid over a period of 24 months from November 2024, bearing an interest rate of 1.0% per annum. In the event of default, creditors have the right to demand immediate payment of unpaid principal.
In conjunction with the debt restructuring, Zivo Bioscience sold 169,022 shares of its common stock to several accredited investors. Transactions took place between August and October, with shares sold at prices ranging from $8.34 to $16.31, $10.44 per share. Specifically, sales to related parties accounted for 52,802 shares, which were sold at prices between $8.34 and $15.96, an average of $9.68 per share.
This recent development reflects Zivo Bioscience's financial management, providing the company with additional operational flexibility.
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