CEO Thomas Wood receives 2M Series C Preferred shares, gaining 81% voting control, in exchange for IP assignment

RemSleep Holdings Inc.

Company issued 2,000,000 Series C Preferred shares to CEO Thomas Wood for assignment of all IP related to the business.
Each Series C Preferred share is convertible into 300 common shares, representing 81% of combined voting power.
Amended Certificate of Designation for Series C Preferred filed July 24, 2023, granting 81% voting rights.
Assigned IP includes patents (e.g., 10,987,481; D985115) and other intellectual property listed in Exhibit A.
Transaction closed September 6, 2023; shares issued as restricted securities under Section 4(a)(2) exemption.

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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

RemSleep Holdings Inc.: Amended and Restated Certificate of Designations of Series C Preferred Shares filed on July 24, 2023, specifying voting rights and conversion terms (effective 2023-07-24).

Change: charter amendment
Effective: 2023-07-24

Exact text from the filing

On July 24, 2023, the Company filed an Amended and Restated Certificate of Designations of Series C Preferred Shares, a copy of which is filed as Exhibit 3.1 hereto and incorporated by reference herein.

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RemSleep Holdings Inc. filing history →

Source: SEC EDGAR

accession 0001213900-23-075336

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