InnovaQor designates Series E and F mandatory convertible preferred stock with stated value $100

InnovaQor, Inc.

Each series authorized 5,000 shares; stated value initially $100, increases by $20 annually.
Series E mandatory conversion date: Dec 31, 2026; Series F: Dec 31, 2027 (subject to issuer redemption).
No dividends; each share votes based on stated value divided by 10-day average closing price of common.
Series E and F rank senior to common, junior to existing Series A, B, C, and D preferred.
Company may redeem any shares in cash at stated value at any time.

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

InnovaQor, Inc.: Filed Certificates of Designation to authorize Series E and Series F Mandatory Convertible Preferred Stock (effective 2023-11-22).

Change: charter amendment
Effective: 2023-11-22

Exact text from the filing

On November 22, 2023, InnovaQor, Inc. (the “Company”) filed Certificates of Designation with the Secretary of State of the State of Nevada to authorize two new series of preferred stock, the Series E Mandatory Convertible Preferred Stock (the “Series E Preferred Stock”) and the Series F Mandatory Convertible Preferred Stock (the “Series F Preferred Stock”).

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Source: SEC EDGAR

accession 0001493152-23-043092

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