1606 CORP. (CBDW): M&A transaction — CEO Austen Lambrecht gains voting control via Series B preferred stock gift from father

1606 CORP.

Gregory Lambrecht gifted 60 shares of Series B Preferred Stock to his son Austen Lambrecht, the current CEO.
Austen now owns all 90 outstanding Series B Preferred shares, giving him voting control of the company.
Series B shares have voting rights equal to 10 times the combined votes of common and other preferred stock.
The change in control occurred on June 14, 2024.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

1606 CORP. underwent a change of control involving Gregory Lambrecht for gift of 60 shares of Series B Preferred Stock (closed 2024-06-14).

Action: change of control
Counterparty: Gregory Lambrecht
Consideration: gift of 60 shares of Series B Preferred Stock
Closing: 2024-06-14

Exact text from the filing

On June 14, 2024, Gregory Lambrecht, the former Chief Executive Officer of 1606 Corp., a Nevada corporation (the “ Company ”), gifted 60 shares of the Company’s Series B Preferred Stock to Austen Lambrecht, the Company’s current Chief Executive Officer and the son of Gregory Lambrecht.

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Source: SEC EDGAR

accession 0001477932-24-003768

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