Bellerophon (BLPH) has released an update to notify the public and investors about the unregistered sales of equity securities.
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The disclosure outlined pertains to the offering and sale of Series A Preferred Stock, which was exempt from registration under the Securities Act of 1933 due to representations made by the Subscriber in the Subscription Agreement, as detailed in a prior section of the report.
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For a comprehensive understanding of the announcement, you can read the full document here.