Limitless X converts $9.675M in convertible notes to Class B Preferred Stock

Limitless X Holdings Inc.

Converted $9,675,000 principal plus $674,097 accrued interest into 10,349,097 shares of Class B Preferred Stock.
Each share of Class B Stock received per $2.00 of principal and interest; convertible into 2 shares of common at holder's option.
Class B Stock has $3.00 liquidation preference per share, senior to common, junior to Class A Preferred, and no voting rights.
Conversion extinguishes all convertible notes issued Aug 2022 through Jan 2023 under Section 4(a)(2)/506(b) exemption.

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

Limitless X Holdings Inc.: Filed Certificate of Designation designating 5,000,000 shares of Class B Stock with liquidation preference and conversion rights (effective 2023-10-23).

Change: charter amendment
Effective: 2023-10-23

Exact text from the filing

On October 23, 2023, the Company, filed a Certificate of Designation with the Secretary of State of the State of Delaware designating 5,000,000 shares of Class B Stock (the “Designation”).

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Limitless X Holdings Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-038348

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