Aterian completes asset sale and preferred-stock financing; investor Lazar takes control
Aterian completed the sale of major consumer brands including Mueller Living, PurSteam, and Squatty Potty to Trademark Global for $18.0 million in cash on July 17, 2026, and simultaneously closed the sale of 3.5 million shares of convertible preferred stock to David E. Lazar for $7.0 million aggregate gross proceeds at $2.00 per share. Lazar became the beneficial owner of approximately 95.8% of voting securities and was appointed Chief Executive Officer. The company also established contingent value rights (CVRs) for common shareholders tied to future proceeds from asset sales and other specified events, with a CVR Payment Date within 60 days of each triggering event and a termination date of March 1, 2028.
Key facts
- Asset sale to Trademark Global closed July 17, 2026 for $18.0 million in cash with purchase-price adjustments
- Series AA Preferred Stock: 1,750,000 shares at $2.00 per share, closing April 27, 2026
- Series AAA Preferred Stock: 1,750,000 shares at $2.00 per share, closing July 17, 2026
- David E. Lazar owns approximately 95.8% of issued and outstanding voting securities post-closing (95.1% fully diluted)
- Series AAA Preferred Stock converts at $0.0148 per share; Series AA at $0.25974 per share
- Lazar appointed sole Chief Executive Officer on July 17, 2026
- CVR Payment Date within 60 days of each Proceeds Event; Termination Date March 1, 2028
- Company repaid in full and terminated all outstanding indebtedness under Midcap Funding IV Trust Credit and Security Agreement dated December 22, 2021
- Former CEO Arturo Rodriguez remains on Board; employment terminated as of September 30, 2026 (Change in Control Qualifying Termination)
- CFO Joshua Feldman employment terminated as of September 4, 2026 (Change in Control Qualifying Termination)
Why it matters
Lazar's acquisition of 95.8% voting control and appointment as CEO constitutes a complete change of control; the company is now a substantially smaller operating entity retaining only legacy brands Vremi and Xtava, with its prior major brands divested and contingent cash rights distributed to legacy shareholders.
Share
Derived from 8-K filed 2026-07-20. Not investment advice. View the source filing on SEC.gov →