Silverback Asset Management LLC, a significant stakeholder in Invacare (OTC:IVCRQ) Holdings Corp (OTC:IVCRQ), reported a recent transaction involving the sale of its holdings in the company. The asset management firm disposed of 912,980 shares of Invacare's 9.00% Series A Convertible Participating Preferred Stock. This sale, executed on October 29, 2024, resulted in zero shares remaining under Silverback's indirect ownership.
According to the filing, the transaction involved exchanging each share of the Series A Preferred Stock for one share of nonconvertible Series B Redeemable Preferred Stock and an increase in the principal amount due under Invacare's Loan and Security Agreement. Silverback Asset Management, managed by Elliot Bossen, acts as the investment manager for private investment funds and separately managed accounts holding these shares. The firm disclaims beneficial ownership of the shares beyond its pecuniary interest.
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