other material
confidence high
sentiment neutral
materiality 0.60
LogicMark issues Series H and I preferred stock to settle warrant claims, avoid reverse split dilution
LogicMark, Inc.
- Company entered settlement agreements with holders of 9,670,000 Series B warrant shares.
- Issued 1,000 shares of Series H convertible preferred at $1,000 stated value, convertible at $0.4654/share.
- Conversion price resets after reverse split to floor of $0.1785; potential ~2,148,689 common shares.
- Also issued 1,000 shares of Series I non-convertible voting preferred, each with 2 votes.
- Holders receive 50% participation rights in future cash financings for 12 months and registration rights.