TurnOnGreen Amends Series A Preferred Stock Conversion and Voting Floor Prices

TurnOnGreen, Inc.

On April 22, 2024, TurnOnGreen filed an amendment to its Series A Preferred Stock certificate of designation with the Nevada Secretary of State.
The amendment sets a Voting Floor Price of $0.072 per share for determining the holder's votes, adjustable for stock splits and dividends.
The conversion price floor is the greater of $0.02 per share or 80% of the market price on the conversion date, with no adjustment for stock splits.
The amendment was approved on April 18, 2024, by the unanimous vote of the sole Series A holder and the board of directors.

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

TurnOnGreen, Inc.: Amendment to certificate of designation for Series A Preferred Stock to set a Voting Floor Price and a Floor Price for conversion (effective 2024-04-22).

Change: charter amendment
Effective: 2024-04-22

Exact text from the filing

On April 22, 2024, TurnOnGreen, Inc., a Nevada corporation (the “ Company ”) amended its articles of incorporation by the filing with the Secretary of State of the State of Nevada an amendment (the “ Series A COD Amendment ”) to the certificate of designation for the Company’s Series A convertible redeemable preferred stock, par value $0.001 per share (the “ Series A Preferred Stock ”).

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TurnOnGreen, Inc. filing history →

Source: SEC EDGAR

accession 0001214659-24-007567

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