Sharing Services amends Series D Preferred Stock: redemption removed, dividend set at 25% of net operating income

SHARING SERVICES GLOBAL Corp

Redemption feature eliminated; company no longer required to pay $1,000 per share in cash upon holder demand.
Annual dividend changed to 25% of net operating income, cumulative, payable in cash starting June 1, 2024.
Amended and Restated Certificate of Designation filed with Nevada Secretary of State on November 16, 2023.
Sole stockholder Decentralized Sharing System, Inc. approved amendment alongside the board of directors.
Dividends accrue whether or not declared and continue to accrue even if no operating income or surplus exists.

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

SHARING SERVICES GLOBAL Corp: Amended and restated Certificate of Designation for Series D Preferred Stock removing redemption feature and modifying dividend calculation (effective 2023-11-16).

Change: charter amendment
Effective: 2023-11-16

Exact text from the filing

the board of directors of Sharing Services Global Corporation (the “Company”) and Decentralized Sharing System, Inc., as the sole stockholder (the “Holder”) of the Company’s Series D Preferred Stock (the “Series D Preferred Stock”), approved the adoption and filing of an Amended and Restated Certificate of Designation of the Series D Preferred Stock (the “Amended and Restated Certificate of Designation”).

View on SEC.gov

Browse all governance changes →

Source: SEC EDGAR

accession 0001493152-23-041689

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.