other_material
confidence high
sentiment neutral
materiality 0.50
High Wire Networks exchanges $1.6M debt for Series H Convertible Preferred Stock
HIGH WIRE NETWORKS, INC.
- Exchanged $650,000 of 2023 Note and $950,000 of 2025 Debenture for 160 shares of Series H Convertible Preferred Stock.
- Series H has stated value $10,000/share, cumulative quarterly dividends of $1,000/share, convertible after 1 year at $1.00/common share.
- Remaining balances of Note and Debenture stay outstanding under original terms.
- Series H has liquidation preference over common and can be redeemed by company at 100% stated value plus accrued dividends.
item 1.01item 5.03item 3.02item 9.01