PVCT 10% Owner Pershing Edward Converts Note into Preferred

What Happened
Pershing Edward, reported as a 10% owner of Provectus Biopharmaceuticals, converted its 2025 unsecured convertible promissory note into 11,328 shares of the issuer’s Series D-1 Convertible Preferred Stock on September 4, 2026 (transaction code M). The Form 4 reports an acquisition at $0.00 (debt-for-equity conversion), while a filing footnote states the conversion price used was $2.862 per Series D-1 share — implying roughly $32,421 of principal/interest was settled. Each Series D-1 preferred share is convertible into 10 common shares, so the preferred shares represent 113,280 common-equivalent shares if converted later.

Key Details

• Transaction date: September 4, 2026 (Form 4 filed September 8, 2026).
• Reported transaction: Acquired 11,328 shares of Series D-1 Convertible Preferred Stock (derivative conversion, code M). Reported price on Form 4: $0.00 (debt conversion).
• Conversion price per footnote: $2.862 per Series D-1 share (used to calculate the debt settled).
• Common-equivalent: Each Series D-1 converts 1:10 into common stock; 11,328 preferred = 113,280 common-equivalent shares.
• Shares owned after transaction: Not specified in the filing.
• Notes from filing: The 2025 Note could have been converted earlier and automatically converted into Series D-1 on the 12-month conversion date; Series D-1 will automatically convert into common on December 31, 2028 unless earlier converted. Reporting person is a 10% owner (institutional/large holder), not necessarily an officer/director.

Context

• This was a conversion of debt into equity (acquisition of preferred stock), not a cash purchase or open‑market sale. The Form 4 shows $0.00 because the conversion settled the outstanding note rather than a cash payment.
• For retail investors: conversions and debt settlements increase the insider’s equity stake but can dilute existing common shareholders if/when preferred shares convert into common stock. This filing is informational; it does not state any trading intent or future plans.