HCMC extends spin-off deadline to Mar 2024, amends convertible preferred terms

Healthier Choices Management Corp.

Third Amendment extends Spin-Off completion date from Dec 1, 2023 to Mar 1, 2024.
Initial conversion price for Series A Preferred set at 5-day VWAP; reset at 10% discount after 40 days (floor 30% of initial).
As of Oct 27, 2023: 1,585 preferred shares converted, 11,193 redeemed for total $11.17M.
Series A Certificate of Designation for spin-off entity Healthy Choice Wellness Corp. amended and restated.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Healthier Choices Management Corp. entered into Securities Purchase Agreement with five institutional investors valued at $13,250,000 (effective 2022-08-18).

Action: entry
Agreement: equity purchase
Counterparty: five institutional investors
Value: $13,250,000
Effective: 2022-08-18

Exact text from the filing

On August 18, 2022, Healthier Choices Management Corp. (the “Company” or “HCMC”) entered into a Securities Purchase Agreement (the “SPA”), pursuant to which the Company sold and issued 14,722.075 shares of its Series E Redeemable Convertible Preferred Stock (the “Preferred Stock”) to five institutional investors (the “Purchasers”) for an aggregate subscription price of $13,250,000 (the “Offering”).

View on SEC.gov

Browse all material agreements →

Healthier Choices Management Corp. filing history →

Source: SEC EDGAR

accession 0001493152-23-039384

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.