Why Did INDP Stock Gain 12% Today?
Synopsis
The investment includes 300,000 Series AA preferred shares and 700,000 Series AAA preferred shares.
Indaptus Therapeutics Inc. (INDP) announced on Monday that it has secured a $6 million investment through the sale of non-voting convertible preferred stock to investor David E. Lazar.
Following the announcement, Indaptus’ stock traded over 12% higher. However, on Stocktwits, retail sentiment around the stock changed to ‘bearish’ from ‘extremely bearish’ territory the previous day amid ‘extremely low’ message volume levels.
Transaction Details
The investment, finalized on December 23, includes 300,000 Series AA preferred shares and 700,000 Series AAA preferred shares. Each Series AA share can convert into 20 common shares, while Series AAA shares can convert into 150, pending stockholder approval expected in the first-quarter (Q1) 2026.
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