DNA X to sell $8.1 million of preferred stock to DNA Holdings, a 5% holder tied to a director
DNA X agreed on June 29, 2026 to sell 1,346,531 shares of non-voting Series B Convertible Preferred Stock to DNA Holdings Venture, Inc., a holder of more than 5% of its stock and an entity associated with director Scott Walker, for $8.1 million. The price is $6.00 per share, paid with $5.0 million in cash and the cancellation of $3.1 million of a convertible note issued in May 2026. The preferred stock converts into common stock after stockholder approval, so the deal can add shares outstanding and dilute existing holders.
Key points
- 1,346,531 Series B preferred shares at $6.00 per share, for an aggregate $8.1 million, including $5.0 million cash and $3.1 million of note balance cancelled
- Preferred stock converts to common stock on the first trading day after stockholder approval; it is not convertible before that approval
- Company expects to enter a consulting agreement at closing with DNA Holdings, Scott Walker and Brock Pierce for an aggregate 2,494,000 common shares, subject to stockholder approval
- Company agreed to file a resale registration statement within 30 calendar days after stockholder approval, and DNA Holdings gets participation rights in future financings for twelve months
The filing
Written by AI on Nov 9, 2026, 8:36 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on July 02, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.