Unrivaled Brands files Certificate of Designation for Series N Preferred Stock

Unrivaled Brands, Inc.

Authorized 2,500,000 shares of Series N Preferred Stock.
Each share convertible into 100 common shares; automatic conversion on first anniversary of issuance.
No preferential dividend rights; voting rights equal to number of common shares into which convertible.
Liquidation preference of $1.00 aggregate for all outstanding Series N shares, then common holders share remaining assets.
No established trading market for Series N Preferred Stock; company does not expect one to develop.

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

Unrivaled Brands, Inc.: Filed Certificate of Designation for Series N Preferred Stock, establishing rights, preferences, and restrictions (effective 2023-02-22).

Change: charter amendment
Effective: 2023-02-22

Exact text from the filing

On February 21, 2023, Unrivaled Brands, Inc. (the “Company”) filed a Certificate of Designation of Rights, Privileges, Preferences, and Restrictions of Series N Preferred Stock (the “Certificate of Designation”) with the Secretary of State of the State of Nevada. The Certificate of Designation became effective upon filing on February 22, 2023.

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Source: SEC EDGAR

accession 0001477932-23-001244

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