||each share of series b common stock is convertible, at the holder's election, into one share of series a common stock, at any time for no consideration other than the surrender of the share of series b common stock for each share of series a common stock.
||on june 13, 2022, the issuer and the reporting person entered into an exchange agreement (the "exchange agreement"), as previously described in the issuer's current report on form 8-k filed on june 13, 2022, pursuant to which, among other things, the issuer agreed that on the terms and subject to the conditions of the exchange agreement, the reporting person shall, upon the occurrence of an accretive event (as defined in the exchange agreement) exchange with the issuer shares of series b common stock of the issuer for an equal number of shares of series c common stock of the issuer (a "reverse exchange"). the exchange agreement, reverse exchange and related transactions were approved by a committee of the issuer's board of directors pursuant to rule 16b-3 under the securities exchange act of 1934, as amended.
||the price is a weighted average price. these shares were sold in multiple transactions ranging from $25.85 to $25.90, inclusive. the reporting person undertakes to provide to the securities and exchange commission, the issuer or any security holder of the issuer, upon request, full information regarding the number of shares sold at each separate price within the range.