Blackboxstocks issues 2.4M Series B preferred for Evtec stake; regains Nasdaq compliance

REALLOYS INC.

Issued 2.4M Series B Convertible Preferred shares for 4,086 newly issued Evtec preferred shares.
Transaction increases Blackbox stockholders' equity by $8.52M, above Nasdaq's $2.5M minimum requirement.
CEO Gust Kepler (majority holder) approved conversion shares exceeding Nasdaq's 19.99% threshold.
Exchange is initial step toward planned merger among Blackbox, Evtec Group, Evtec Aluminium, and Evtec Automotive.

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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

REALLOYS INC.: Established Series B Convertible Preferred Stock with terms as set forth in Certificate of Designation (effective 2023-06-08).

Change: charter amendment
Effective: 2023-06-08

Exact text from the filing

On June 8, 2023, the board of directors of the Company unanimously adopted resolutions establishing and authorizing the issuance of 2,400,000 shares of a series of Company Preferred Stock to be known as the Series B Convertible Preferred Stock (the "Series B Stock") with the voting powers, designations, preferences, limitations, restrictions and relative rights set forth in a Certificate of Designation for the Series B Stock (the “Designation”).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

REALLOYS INC. entered into Securities Exchange Agreement with Evtec Group Limited (effective 2023-06-09).

Action: entry
Agreement: equity purchase
Counterparty: Evtec Group Limited
Effective: 2023-06-09

Exact text from the filing

One June 9, 2023 Blackboxstocks Inc. (the “Company”) entered into a Securities Exchange Agreement (the “Exchange Agreement”) with Evtec Group Limited (“Evtec”), a company registered in England and Wales. Under the terms of the Exchange Agreement the Company issued 2,400,000 shares of Series B Convertible Preferred Stock, $0.001 par value per share (the “Series B Share Consideration”), in exchange for 4,086 newly issued preferred shares of Evtec (the “Evtec Shares”).

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REALLOYS INC. filing history →

Source: SEC EDGAR

accession 0001437749-23-017530

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