other material
confidence high
sentiment neutral
materiality 0.60
Limitless X removes share issuance price floor and reverse stock split restrictions from acquisition agreement
Limitless X Holdings Inc.
- Amendment No. 1 removes Sections 3.5 and 3.6, which prohibited equity sales below $0.40/share and reverse stock splits for 12 months post-closing.
- Agreement dated August 2, 2022, among Limitless X Holdings, Limitless X Inc., and shareholders; effective immediately.
- Removal of restrictions gives company flexibility for future equity financing and capital restructuring.
- Original Share Exchange Agreement closed May 22, 2022; no other terms were amended.