other material
confidence high
sentiment neutral
materiality 0.55
High Wire Networks issues $250K Series G preferred with 10M stock incentive
HIGH WIRE NETWORKS, INC.
- Issued 250 shares of Series G Convertible Preferred at $1,000/share ($250,000 total) to institutional investor.
- Conversion price set at 90% of lowest traded price over the prior 10 trading days; 4.99% ownership cap.
- Preferred stock carries 12% annual dividend, payable quarterly, and mandatory redemption at 110% after 90 days.
- Purchaser receives 10 million shares of restricted common stock as an equity incentive.
- Company must file registration statement for resale of conversion shares within 30 days of closing.