other material
confidence high
sentiment negative
materiality 0.60
Senmiao Technology cuts Series A preferred conversion price to $2.00 from $4.10, increasing potential dilution
Senmiao Technology Ltd
- Conversion price of Series A Convertible Preferred reduced from $4.10 to $2.00 per share effective August 9, 2022.
- Common shares reserved upon conversion increased from 1,092,683 to 2,240,000 shares.
- Board approved reduction with consent from majority of preferred investors from November 2021 $5M private placement.