Singlepoint awards 1M preferred shares to officers; amends preferred stock conversion ratio

SinglePoint Inc.

1M Class A Convertible Preferred shares awarded as bonus to four officers: CEO Ralston (325k, 30.58% voting), President Lambrecht (275k, 25.50%), EVP Monte (225k, 20.19%), EVP Miles (175k, 15.98%).
Officers waived transfer and conversion rights for 12 months; issuance exempt under Section 4(a)(2) to accredited/sophisticated parties.
Amended Certificate of Designation reduces conversion ratio to 10 shares of preferred per 1 common share; removes preferred distribution rights.
Board also authorized up to 1.5M shares (not >19.9% of common outstanding) as bonus for key personnel upon successful uplisting.

item 3.02 item 5.01 item 5.02 item 5.03 item 9.01

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

SinglePoint Inc.: SinglePoint Inc. filed an Amended Certificate of Designation for its Class A Convertible Preferred Stock to reduce the conversion ratio and remove preferred distribution rights (effective 2023-11-24).

Change: charter amendment
Effective: 2023-11-24

Exact text from the filing

On November 24, 2023 the Company filed with the State of Nevada an Amended Certificate of Designation for its Class A Convertible Preferred Stock of the Company which provided for: (i) a reduction in the conversion ratio such that each ten (10) shares of Class A Convertible Preferred Stock be convertible into one (1) share of common stock of the Corporation, and (ii) removal of preferred distribution rights for the Class A Convertible Preferred Stock.

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Source: SEC EDGAR

accession 0001477932-23-008909

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