Vislink declares Series A Preferred Stock dividend to facilitate reverse stock split vote

Vislink Technologies, Inc.

One one-thousandth share of Series A Preferred per common share; record date Nov 21, distribution Nov 22.
Each Series A Preferred share has 1M votes, only on reverse stock split; vote tied to common shares.
Series A Preferred non-transferable except with common shares; automatically redeemed upon reverse split approval or meeting.
Company also eliminated Series D and E Preferred Stock certificates (no shares outstanding).
Special meeting to consider reverse stock split scheduled separately from annual meeting.

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

Vislink Technologies, Inc.: Declared dividend of Series A Preferred Stock with shareholder voting rights limited to a potential Reverse Stock Split, as described in a newly created Certificate of Designation.,Item 5.03 – Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year – November 9, 2022 (effective 2022-11-09).

Change: charter amendment
Effective: 2022-11-09

Exact text from the filing

Effective as of November 9, 2022, the board of directors (the " Board ") of Vislink Technologies, Inc. (the " Company ") declared a dividend of one one-thousandth of a share of Series A Preferred Stock, par value $0.00001 per share (" Series A Preferred Stock "), for each outstanding share of the Company’s common stock, par value $0.00001 per share (" Common Stock "), to stockholders of record at 5:00 p.m. Eastern Time on November 21, 2022 (the " Record Date ").

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Source: SEC EDGAR

accession 0001493152-22-031056

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