other material
confidence high
sentiment neutral
materiality 0.50
HCI subsidiary TypTap amends articles to authorize new preferred and common shares for exchange by investor
HCI Group, Inc.
- TypTap authorized 1M additional shares of nonvoting Series A-2 Preferred Stock and 1M shares of non-voting Common Stock.
- CB Snowbird Holdings exchanged 1M shares of TTIG Series A-1 Preferred for equal number of Series A-2 Preferred; net shares unchanged.
- Amendment enables exchange of Series A-1 for Series A-2, with Series A-2 carrying no voting rights.
- No change in total issued and outstanding shares of TTIG capital stock following the exchange.
- Exhibit 10.1 details rights of Series A Preferred including dividends, liquidation preference, and conversion.