Synaptogenix creates Series B Convertible Preferred, closes $15M private placement

TAO Synergies Inc.

Issued Series B Convertible Preferred Stock with initial conversion price of $7.75 per share.
Gross proceeds of $15 million from private placement of Preferred Shares and warrants.
Preferred Shares carry 7% annual dividend (15% on trigger events), payable in cash or common stock.
Mandatory redemption in 15 equal monthly installments starting April 1, 2023, payable in cash or stock.
Company must seek stockholder approval by March 1, 2023 to issue over 19.9% of outstanding common stock.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

TAO Synergies Inc.: Created Series B Convertible Preferred Stock via Certificate of Designations (effective 2022-11-21).

Change: charter amendment
Effective: 2022-11-21

Exact text from the filing

On November 21, 2022, Synaptogenix, Inc. (the “Company”) filed a Certificate of Designations of Series B Convertible Preferred Stock of Synaptogenix, Inc. with the Secretary of State of the State of Delaware (the “Certificate of Designations”), thereby creating a new series of preferred stock of the Company designated as “Series B Convertible Preferred Stock” (the “Preferred Shares”).

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TAO Synergies Inc. filing history →

Source: SEC EDGAR

accession 0001104659-22-121017

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