micromobility.com Inc. (MCOM): M&A transaction — CEO-controlled entity acquires 51% of micromobility.com via debt-to-equity conversion

micromobility.com Inc.

Palella Holdings LLC converted $705,441.98 of convertible note principal into 47,029,465 MCOM shares at $0.015/share.
Conversion gave Palella Holdings 51% of outstanding shares, resulting in change of control on June 10, 2024.
Note originally issued January 31, 2024; conversion price $0.015 (one-tenth cent above June 10 closing price).
Palella Holdings is controlled by CEO Salvatore Palella; funds were personal, not borrowed.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

micromobility.com Inc. underwent a change of control involving Palella Holdings LLC for $705,441.98 (closed 2024-06-10).

Action: change of control
Counterparty: Palella Holdings LLC
Consideration: $705,441.98
Closing: 2024-06-10

Exact text from the filing

Convertible Note Agreement with Palella Holdings LLC On January 31, 2024, micromobility.com Inc. (the “ Company ”)

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micromobility.com Inc. filing history →

Source: SEC EDGAR

accession 0001079973-24-000854

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