other material
confidence high
sentiment neutral
materiality 0.60
Innovative Solutions and Support adopts stockholder rights plan with 15% trigger, rights expire Sept 2023
INNOVATIVE SOLUTIONS & SUPPORT INC
- Rights plan triggered if any person or group acquires 15% or more of outstanding common stock.
- Each right entitles holder to purchase one one-thousandth of Series B Preferred at $41.57; exercisable at 50% discount after trigger.
- Dividend of one right per common share declared, record date Sept 27, 2022; rights expire Sept 12, 2023.
- Plan not adopted in response to any specific takeover proposal, per CEO; rights may be redeemed for $0.001 before trigger.