secwatch.observer — SEC 8-K summary
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Issuer:     PARKS AMERICA, INC (PRKA)
CIK:        0001297937
Form:       8-K
Filed at:   2024-01-22T23:59:59+00:00
Accession:  0001493152-24-003185
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 3.03, 5.03, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Parks! America adopts limited-duration shareholder rights plan with 10% trigger and $3.00 exercise price
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- Board declared a dividend of one preferred share purchase right per common share; record date Jan 29, 2024.
- Rights become exercisable if any person acquires 10%+ of common stock; existing 10% holders grandfathered but cannot add shares.
- Exercise price is $3.00 per right; rights expire January 18, 2025, unless extended by Board.
- Board may redeem rights for $0.001 per right at any time before trigger event.
- Rights plan includes qualifying offer provision allowing shareholders to force special meeting on pending offer.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1297937/000149315224003185/0001493152-24-003185-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1297937/000149315224003185/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-003185

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