Mitesco raises $250K via Series F 12% PIK Convertible Preferred and Warrants

Mitesco, Inc.

Gross proceeds of $250K from sale of 250 Series F 12% PIK Convertible Preferred shares at $1,000 liquidation pref each.
Warrant to purchase initially 557 shares of common at $2.50/share; final number equals conversion shares/2.
Series F preferred carries 12% PIK dividend, perpetual, with conversion rights into common stock.
Offering is exempt from registration under Section 4(a)(2) and Rule 506(b); securities are restricted.
Closing conditions include exchange of all existing preferred stock and convertible notes into new securities.

item 1.01 item 3.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Mitesco, Inc. entered into Purchase Agreement valued at $250,000 (effective 2023-06-30).

Action: entry
Agreement: equity purchase
Value: $250,000
Effective: 2023-06-30

Exact text from the filing

On June 30, 2023, Mitesco, Inc., a Delaware corporation (the “Company”) entered into a securities purchase agreement (the “Purchase Agreement”) with an existing investor.

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Mitesco, Inc. filing history →

Source: SEC EDGAR

accession 0001185185-23-000687

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