Orbsat Corp appoints Rodney Barreto to board; discloses his $1.2M participation in private placement

NextPlat Corp

Rodney Barreto appointed to the board effective January 20, 2022; no committee assignment yet.
Director agreement: $48,000/year cash retainer plus 20,000 restricted shares (half vest at grant, half at 1-year anniversary).
Barreto purchased 370,371 shares at $3.24/share in a private placement that closed January 5, 2022, for total of $1,200,002.04.
Private placement total: 2,229,950 shares sold, gross proceeds of approximately $7.2 million at $3.24 per share.
This amendment corrects the original 8-K's omission of Barreto's participation as a purchaser in the offering.

item 5.02 item 9.01

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Appointed

Rodney Barreto

Director

NXPL · NextPlat Corp

Effective: 2022-01-20
Filed: January 20, 2022, 6:59 PM ET

On January 7, 2022, the Board of Directors (the “Board”) of Orbsat Corp (the “Company”) appointed Rodney Barreto as a new director to the Board, effective January 20, 2022.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Rodney Barreto was appointed as Director at NextPlat Corp.

Action: appointed
Role: Director

Exact text from the filing

On January 7, 2022, the Board of Directors (the “Board”) of Orbsat Corp (the “Company”) appointed Rodney Barreto as a new director to the Board, effective January 20, 2022.

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Source: SEC EDGAR

accession 0001493152-22-001740

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