other_material
confidence high
sentiment neutral
materiality 0.30
Helio raises $931,500 via Series B Convertible Preferred private placement
Helio Corp /FL/
- Sold 1,000 shares of Series B Convertible Preferred at $931.50 stated value per share for aggregate proceeds of $931,500.
- Each preferred share convertible into one common share at initial conversion price of $931.50, subject to adjustment and 4.99% beneficial ownership cap.
- Series B pays no cash dividends, has liquidation preference equal to stated value, and is redeemable by company at any time at stated value.
- Sale exempt from registration under Section 4(a)(2) and Rule 506(b); purchaser is accredited investor.
- Leak-out provision limits common stock sales to 15% of daily trading volume during specified period.