HeartCore enters $25M equity line with Crom, issues $2M Series A preferred, stockholder approves reverse split

HeartCore Enterprises, Inc.

Equity Purchase Agreement with Crom for up to $25M in common stock (ELOC); $250K commitment fee in shares.
Issued 2,000 Series A Convertible Preferred shares at $1,000 each ($2M aggregate), plus 750,000 SPA commitment shares.
Series A preferred pays 10% annual dividend; converts at 90% of avg two lowest VWAPs over five days.
Stockholder written consent (60% voting power) approved reverse stock split (1:2 to 1:30) and share issuance above 20%.
Registration statements for resale of ELOC and conversion shares to be filed within 30 days, effective within 90 days.

item 1.01 item 3.02 item 5.03 item 5.07 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

HeartCore Enterprises, Inc.: Filed Certificate of Designations for Series A Convertible Preferred Stock, establishing terms including liquidation preference, conversion rights, and dividend provisions (effective 2025-06-30).

Change: charter amendment
Effective: 2025-06-30

Exact text from the filing

On June 30, 2025, the Company filed a Certificate of Designations of Preferences, Rights and Limitations of the Series A Convertible Preferred Stock ("Certificate of Designations") with the Secretary of State of the State of Delaware.

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HeartCore Enterprises, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-25-061774

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