CEO Lazar Discloses 95.7% Control via 249.9M Convertible Preferred Shares
ATER has more than doubled off its 52-week low of $0.354 on elevated volume (2.7× avg).
Summary
CEO David Lazar's 13D discloses 95.7% beneficial ownership via 249.9M convertible preferred shares, including previously undisclosed Series AAA conversion terms and anti-dilution protections.
Key Events · Ownership and Investor Activity · ATER
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Lazar Controls 95.7% of Aterian
David Lazar beneficially owns 249.9M common shares via 1.75M Series AA and 1.75M Series AAA preferred shares, representing 95.7% of the class.
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Series AAA Conversion Terms Disclosed
Each Series AAA preferred share converts into 135.1 common shares, totaling 236.4M common shares — terms not previously disclosed in the July 20 8-K or S-3.
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Anti-Dilution Protection on Both Series
Both preferred series carry price-based anti-dilution adjustments: any future issuance below the conversion prices ($0.25974 for Series AA) would further increase Lazar's share count.
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Partial Conversion Already Executed
On August 4, 2026, Lazar converted 875,000 Series AA shares into 6.74M common shares, leaving 875,000 Series AA and all 1.75M Series AAA shares outstanding.
Analysis · ATER · Manufacturing
David Lazar's Schedule 13D reveals the full scope of his control over Aterian: 249.9 million common shares underlying his Series AA and Series AAA preferred stock, representing 95.7% of the class. The Series AAA conversion terms — 135.1 common shares per preferred share — were not previously disclosed in the July 20 8-K or S-3. Critically, both preferred series carry price-based anti-dilution adjustments, meaning any future issuance below the conversion prices would further increase Lazar's share count. With Aterian already facing a Nasdaq delisting notice and going-concern doubt, this filing confirms the company is now effectively a controlled entity with a single shareholder holding nearly all equity upside.
How filings like this one have moved
In the 30 days to Oct 16, 2026, 36.8% of the 988 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.55%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, ATER was trading at $0.84 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $15.4M. The 52-week trading range was $0.35 to $1.87. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.