--- title: "Indaptus Therapeutics reports change in control" url: "https://aibio.space/news/indaptus-therapeutics-reports-change-control-lazar-sells-preferred/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2026-03-24" section: "Mergers" tickers: "NASDAQ:INDP" source: "https://www.sec.gov/Archives/edgar/data/1857044/000149315226012372/form8-k.htm" summary: "Five buyers including Yun Yao and Sino Lion Ventures Limited bought preferred stock that could convert into 108,936,000 shares. The board appointed Junyi D" --- By the aibio.space news desk. Sources - [Indaptus Therapeutics, Inc. Form 8-K filed March 24, 2026 (SEC EDGAR)](https://www.sec.gov/Archives/edgar/data/1857044/000149315226012372/form8-k.htm) - [form10-k.htm](https://www.sec.gov/Archives/edgar/data/1857044/000149315226010585/form10-k.htm) - [Indaptus Therapeutics, Inc. financial data (SEC XBRL)](https://www.sec.gov/Archives/edgar/data/1857044/000149315226010585/) [INDP](https://aibio.space/companies/indaptus-therapeutics/) 2026-03-24 # Indaptus Therapeutics reports change in control as Lazar sells preferred stock for $11,200,000 Tickers [INDP](https://aibio.space/companies/indaptus-therapeutics/) Five buyers including Yun Yao and Sino Lion Ventures Limited bought preferred stock that could convert into 108,936,000 shares. The board appointed Junyi Dai chairman and chief executive officer, and four directors resigned on March 18, 2026. ## Key facts - **Company**: Indaptus Therapeutics, Inc. (NASDAQ: INDP) - **News type**: Mergers - **Primary source**: [Indaptus Therapeutics, Inc. Form 8-K filed March 24, 2026 (SEC EDGAR)](https://www.sec.gov/Archives/edgar/data/1857044/000149315226012372/form8-k.htm) *A city skyline seen across a river. Photo: Matt Bango, CC0, via StockSnap. The picture shows the field, not the companies named.* Indaptus Therapeutics, Inc. (Nasdaq: [INDP](https://aibio.space/companies/indaptus-therapeutics/)) said in a Form 8-K filed March 24, 2026 that preferred stock held by David E. Lazar passed to five buyers in a change in control. The company says it was advised that on March 23, 2026 Lazar sold all of his interest in 700,000 shares of Series AAA Convertible Preferred Stock and 196,800 shares of Series AA Convertible Preferred Stock for an aggregate purchase price of $11,200,000. The [8-K](https://www.sec.gov/Archives/edgar/data/1857044/000149315226012372/form8-k.htm) also reports board and officer changes. ## Who bought and what they could own The buyers are Yun Yao, Sino Lion Ventures Limited, Junyi Dai, Ting Yang and Lina Deng. The filing says each Series AA share converts into 20 shares of common stock and each Series AAA share converts into 150 shares. If every holder converted all preferred stock and the company had 113,242,324 common shares outstanding, the buyers would hold 108,936,000 shares, or 96.20%. Lazar's ownership would fall to approximately 1.82%. On that basis, Yun Yao would hold 41,991,000 shares (37.08%) for $4,317,206.43 of personal funds, and Sino Lion Ventures Limited would hold 38,895,000 shares (34.35%) for $3,998,898.44 of working capital. Junyi Dai and Ting Yang would each hold 11,250,000 shares (9.93%), and Lina Deng would hold 5,550,000 shares (4.90%). The buyers told the company they will jointly file a Schedule 13D. ## Arrangements around the sale Apart from Junyi Dai's appointment as an officer and Lazar's resignation as Chairman and co-Chief Executive Officer, the filing reports no arrangements between Lazar and the buyers on director elections or other matters. The buyers also agreed to have the company include 2,064,000 common shares in a resale registration statement. Those shares underlie 103,200 shares of Series AA Preferred Stock that Lazar keeps, and the company must file the statement within thirty days of March 23, 2026. ## Leadership changes Jeffrey A. Meckler, Roger J. Pomerantz, Anthony J. Maddaluna and William B. Hayes resigned as directors on March 18, 2026. Meckler also resigned as co-Chief Executive Officer. Lazar stepped down as Chairman and co-Chief Executive Officer but remains on the board. The company says none of the resignations was based on a disagreement over operations, policies or practices. The board named Junyi Dai Chairman on March 18, 2026, and named him Chief Executive Officer effective at the closing of the March 2026 share sale agreement. The 8-K says he was an independent director of Mega Matrix Inc. from 2024 to 2025 and Managing Director of FLMD Pty Ltd, a Sydney real estate investment and asset management firm, from 2015 to 2024. To fill committee vacancies, the board named Matthew McMurdo, Avraham Ben-Tzvi, David Natan and Jerome Jabbour to committee posts. ## How Lazar got the preferred stock Indaptus's Form 10-K, filed March 17, 2026, explains the earlier deal. On December 22, 2025, Lazar agreed to buy 300,000 shares of Series AA Preferred Stock and 700,000 shares of Series AAA Preferred Stock at $6.00 per share, for gross proceeds of $6.0 million. The sale closed December 23, 2025. At a special meeting on February 26, 2026, stockholders approved issuing common stock to Lazar on conversion, raising authorized common shares from 200,000,000 to 1,000,000,000, and approved a reverse stock split in a range the board will set. ## Cash, losses and going concern The 10-K's financial data show a net loss of $20.8 million for 2025, up from $15.0 million for 2024. Cash used in operations was $14.8 million in 2025 and $12.3 million in 2024. Year-end 2024 cash and cash equivalents were $5.8 million. The 10-K states that the company has identified conditions and events that raise substantial doubt about its ability to continue as a going concern, and that it will need to raise additional capital. It also says the company does not expect to become profitable in the near future and may never become profitable. ## Pipeline Indaptus describes itself as a clinical biotechnology company. Its lead clinical candidate, Decoy20, entered a Phase 1 clinical trial in 2023 in patients with advanced solid tumors where currently approved therapies have failed. The 10-K also flags Nasdaq's proposed rule on minimum market value of listed securities as a risk. Nir Sassi, Chief Financial Officer, signed the 8-K. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story INDP Indaptus Therapeutics, Inc. NASDAQ ยท United States Open the starter desk ## More in Mergers Mergers ### [InMed sets November 5 record date for CVRs tied to Mentari merger](https://aibio.space/news/inmed-sets-november-5-record-date-cvrs-tied-mentari-merger/) Oct 27, 2026 Mergers ### [Rallybio declares estimated $82.7 million cash distribution tied to Avenzo merger](https://aibio.space/news/rallybio-declares-estimated-82-7-million-cash-distribution-tied-avenzo/) Oct 26, 2026 Mergers ### [Skye Bioscience files preliminary proxy for its Redx Pharma acquisition](https://aibio.space/news/skye-bioscience-files-preliminary-proxy-redx-pharma-acquisition/) Oct 26, 2026 --- Source page: https://aibio.space/news/indaptus-therapeutics-reports-change-control-lazar-sells-preferred/. Facts in aibio.space stories are checked against company filings and releases; opinion is labelled. Cite as: aibio.space, "Indaptus Therapeutics reports change in control", 2026-03-24, https://aibio.space/news/indaptus-therapeutics-reports-change-control-lazar-sells-preferred/