other material
confidence high
sentiment neutral
materiality 0.55
Vnue enters $1.5M securities purchase agreement with GHS Investments for Series B Convertible Preferred
VNUE, Inc.
- GHS to purchase up to 1,500 Series B Convertible Preferred shares in two $750K tranches; initial tranche closed January 3, 2022.
- Second tranche conditional on filing of resale registration statement for common shares underlying the preferred and warrants.
- Preferred stock carries 10% annual dividend, $1,200 stated value, and redemption premiums of 115-125% of stated value within 180 days.
- Company issued 35 commitment shares and a warrant to purchase common shares upon conversion of the second-tranche preferred.
- Proceeds support the pending acquisition of StageIt, Inc.; certificate of designation for Series B filed with Nevada Secretary of State.