other material
confidence high
sentiment neutral
materiality 0.65
LogicMark designates Series H and I preferred stock; issues 1,000 shares each to settle warrant holders
LogicMark, Inc.
- Series H Convertible Non-Voting Preferred: 1,000 shares, stated value $1,000, convertible at $0.4654 into ~2.15M common shares.
- Series I Non-Convertible Voting Preferred: 1,000 shares, each carrying 2 votes on all stockholder matters.
- Both series issued to holders of Series B warrants for up to 9.67M common shares as part of settlement agreements.
- Conversion price for Series H may reset after next reverse stock split to lower of VWAP or floor of $0.1785.
- Series I shares automatically redeemed for no consideration upon conversion/sale of Series H on a one-for-one basis.