HF Foods adopts limited-duration shareholder rights plan effective through April 11, 2024

HF Foods Group Inc.

Rights dividend of one Right per share of common stock; record date April 24, 2023.
Rights become exercisable if a person/group acquires 15% or more common stock without Board approval.
Each Right entitles holder (excluding triggering party) to buy shares worth 2x exercise price ($19.50) at exercise price.
Advisors retained: JP Morgan, Arnold & Porter Kaye Scholer, MacKenzie Partners, Gagnier Communications.
Board cites concern over undisclosed stock accumulation; plan expires April 11, 2024.

item 1.01 item 3.03 item 5.03 item 8.01 item 9.01

Key facts

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

HF Foods Group Inc.: Certificate of Designation for Series A Participating Preferred Stock adopted and filed with Delaware Secretary of State (effective 2023-04-11).

Change: charter amendment
Effective: 2023-04-11

Exact text from the filing

on April 11, 2023 the Board approved a Certificate of Designation of Rights, Preferences and Privileges of Series A Participating Preferred Stock (the “Certificate of Designation”) setting forth the rights, powers and preferences of the Preferred Stock. The Certificate of Designation was filed with the Secretary of State of the State of Delaware on April 11, 2023.

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Source: SEC EDGAR

accession 0001193125-23-098200

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