Zapata Computing issues convertible preferred to settle $4.43M in liabilities

Zapata Quantum, Inc.

• Authorized 13,000 shares of Series C Convertible Preferred; each convertible into 1,000 common shares.
• Issued 11,983 Series C shares to two creditors in exchange for $4,428,542 of accounts payable and liabilities.
• Series C ranks pari passu with common on liquidation; voting on as-converted basis subject to beneficial ownership limits.
• Issuance exempt from registration under Section 4(a)(2) and Regulation D.