other material
confidence high
sentiment positive
materiality 0.55
Park City Group to redeem $9M in preferred stock over three years using free cash flow
ReposiTrak, Inc.
- Company plans to redeem all Series B and Series B-1 Preferred at $10.70/share, total $8,964,214.
- As of March 31, 2023, 625,375 Series B and 212,402 Series B-1 Preferred shares were outstanding.
- Redemption will eliminate ~$147,000 in quarterly preferred dividends once complete.
- Free cash flow will fund redemptions over three years; company had ~$23M cash at March 31, 2023.
- Preferred stock held by CEO Randall K. Fields, affiliates, and a director.