MetAlert enters Securities Purchase Agreement for up to $300,000 private placement of Series D Preferred Stock

Metalert, Inc.

Investor Carl La Rue to purchase up to 75,000 Series D Preferred shares in three tranches totaling $300,000.
First tranche of 15,000 shares sold for $100,000 on Sept 28, 2023; second tranche of 25,000 shares due by Jan 15, 2024; third tranche of 35,000 shares due by Mar 15, 2024.
Series D Preferred Stock is convertible into common stock at 100:1 after one year, with 4.99% beneficial ownership cap (waivable to 9.99%).
Series D Preferred has no voting rights, no dividends, and ranks pari passu with common on liquidation.

item 1.01 item 3.02 item 5.03 item 9.01

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

Metalert, Inc.: Established Series D Preferred Stock via Certificate of Designation (effective 2023-09-28).

Change: charter amendment
Effective: 2023-09-28

Exact text from the filing

On September 28, 2023, the Board of Directors of the Company established a new series of preferred stock that was designated "Series D Preferred Stock." The will file with the State of Nevada a Certificate of Designation with respect to the Series D Preferred Stock.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Metalert, Inc. entered into Purchase Agreement with Carl La Rue valued at up to 75,000 shares of the Company's Series D Preferred Stock (effective 2023-09-26).

Action: entry
Agreement: equity purchase
Counterparty: Carl La Rue
Value: up to 75,000 shares of the Company's Series D Preferred Stock
Effective: 2023-09-26

Exact text from the filing

On September 26, 2023, MetAlert, Inc. (the “Company”) entered into a Securities Purchase Agreement (the “Purchase Agreement”) with Carl La Rue (the “Investor”), pursuant to which the Investor agreed to purchase up to 75,000 shares of the Company’s Series D Preferred Stock.

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Source: SEC EDGAR

accession 0001493152-23-036608

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