FORUM MARKETS Inc (FRMM): M&A transaction — Stockholders approve Series B conversion; Elray gains 36.3% voting control; OIP limit raised

FORUM MARKETS Inc

Series B preferred stockholders get 1.813 votes per share; Elray Resources holds 36.3% of total voting power.
Filing shows conflicting conversion ratios: 1.813 common per share (Item 5.01) vs 1.318 common per share (Item 8.01).
Warrants for up to 3 million shares at $1.68 per share now exercisable.
OIP share reserve increased from 223,679 to 1,000,000 shares by stockholder-approved amendment.

item 3.03 item 5.01 item 5.02 item 8.01 item 5.07 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

FORUM MARKETS Inc underwent a change of control involving Elray Resources, Inc. (closed 2024-12-27).

Action: change of control
Counterparty: Elray Resources, Inc.
Closing: 2024-12-27

Exact text from the filing

As a result of the voting rights associated with the Series B Convertible Preferred Stock, effective on December 27, 2024, Elray Resources, Inc., the holder of all 1,000,000 outstanding shares of Series B Convertible Preferred Stock, obtained the right to vote 1,813,000 total voting shares pursuant to its ownership of the Series B Convertible Preferred Stock, on all stockholder matters, representing 36.3% of the Company’s outstanding voting shares

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31 m&a transactions filed in the last 30 days. Browse all m&a transactions →

FORUM MARKETS Inc filing history →

Source: SEC EDGAR

accession 0001213900-25-000398

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