CF Bankshares exchanges 200,000 common shares for 2,000 Series D preferred shares

CF BANKSHARES INC.

Issued 2,000 Series D non-voting convertible perpetual preferred stock to an existing stockholder in exchange for 200,000 voting common shares.
Series D designation of 5,000 authorized shares filed Feb 5 to facilitate stock repurchases, including existing buyback program.
Series D preferred: no voting rights, convertible on a 100:1 basis to non-voting or voting common (subject to 9.9% ownership cap).
Dividend rights identical to common shares on as-converted basis; shares are not redeemable.

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

CF BANKSHARES INC.: Filed Certificate of Designations to designate 5,000 authorized shares of Series D Preferred Stock, with terms substantially similar to Series C Preferred Stock (effective 2024-02-05).

Change: charter amendment
Effective: 2024-02-05

Exact text from the filing

On February 5, 2024, the Company filed with the Delaware Secretary of State a Certificate of Designations (the “Certificate of Designations”) to designate 5,000 authorized shares of Series D Preferred Stock.

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CF BANKSHARES INC. filing history →

Source: SEC EDGAR

accession 0001193125-24-024835

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