Qrons enters merger to acquire First Person Ltd.; issues 8,000 Series B Preferred shares

Qrons Inc.

Series B Preferred carries 99,943,448 votes per share; converts to common on authorization of 500M common shares.
Anti-dilution agreement protects existing shareholders' ownership for 12 months post-2024 annual report.
Control SPA transfers Series A Preferred from current directors to First Person affiliate; closing expected Jan 20, 2025.
First Person is a cognitive-performance consumer products company; Merger Sub will merge into First Person.
Series A Preferred reduced from 10,000 to 2,000 shares; Series B established at 8,000 shares.

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

Qrons Inc.: Amended Articles of Incorporation to reduce Series A Preferred Stock designation from 10,000 to 2,000 shares and establish Series B Convertible Preferred Stock with 8,000 shares (effective 2025-01-02).

Change: charter amendment
Effective: 2025-01-02

Exact text from the filing

On January 2, 2025, the Company filed with the State of Wyoming an Articles of Amendment to its Articles of Incorporation (the “Articles of Amendment”), which (a) restated the Certificate of Designation of the Company’s Series A Preferred Stock, as summarized below, and (b) established a Series B Convertible Preferred Stock

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Source: SEC EDGAR

accession 0001477932-25-000341

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