Kona Gold Beverage increases authorized common stock from 2.5B to 10.5B shares; Series C Preferred up to 2,000

KONA GOLD BEVERAGE, INC.

Authorized common stock increased from 2.5B to 10.5B shares (4x increase) via Certificate of Amendment.
Series C Preferred designated shares increased from 250 to 2,000 shares (8x).
Both amendments filed with Delaware Secretary of State on February 13, 2023; no immediate financial impact.
Authorized share increase provides flexibility for potential future capital raising or acquisitions.

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

KONA GOLD BEVERAGE, INC.: Kona Gold Beverage, Inc. amended its Certificate of Incorporation to increase authorized common stock from 2.5 billion to 10.5 billion shares, and amended its Series C Preferred Stock Certificate of Designation to increase designated shares from 250 to 2,000 shares (effective 2023-02-13).

Change: charter amendment
Effective: 2023-02-13

Exact text from the filing

On February 13, 2023, Kona Gold Beverage, Inc. (the “Company”). filed with the Secretary of State of the State of Delaware a Certificate of Amendment to its amended and restated Certificate of Incorporation (the “Certificate of Amendment”) to increase the number of the Company’s authorized shares of common stock, par value $0.00001 per share (the “Common Stock”), from two billion five hundred million (2,500,000,000) shares to ten billion five hundred million (10,500,000,000) shares.

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Source: SEC EDGAR

accession 0001493152-23-005497

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