Statera declares Series B Preferred dividend with super-voting rights for share increase and reverse split

Statera Biopharma, Inc.

Declared dividend of 1/1,000th share of Series B Preferred per common share; record date Feb 1, 2023.
Series B carries 1,000 votes per share, voting only on Authorized Share Increase (150M to 250M) and Reverse Split (1-for-10 to 1-for-300).
Unvoted Series B shares automatically redeemed before meeting at $0.005 per whole share (with rounding exclusions).
Bylaws amended to reduce stockholder quorum from majority to 33.34% of votes entitled to be cast.

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 0.95

Statera Biopharma, Inc.: Established Series B Preferred Stock and filed Certificate of Designation setting forth preferences, rights, and limitations (effective 2023-01-26).

Change: charter amendment
Effective: 2023-01-26

Exact text from the filing

On January 26, 2023, the board of directors (the "Board") of Statera Biopharma, Inc. (the "Company") declared a dividend of one one-thousandth of a share of Series B Preferred Stock, par value $0.005 per share ("Series B Preferred Stock"), for each outstanding share of the Company's common stock, par value $0.005 per share ("Common Stock") to stockholders of record at 5:00 p.m. Eastern Time on February 1, 2023 (the "Record Date"). Series B Certificate of Designation The preferences, rights, limitations and other matters relating to the Series B Preferred Stock are set forth in a Certificate of Designation of Preferences, Rights and Limitations of Series B Preferred Stock (the "Certificate of Designation").

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Source: SEC EDGAR

accession 0001437749-23-002260

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