other material
confidence high
sentiment neutral
materiality 0.60
Minim corrects securities purchase terms: director to buy 2M preferred shares at $1.40, not 2.8M at $1.00
FiEE, Inc.
- Amended 8-K revises shares of preferred stock to 2,000,000 at $1.40 per share totaling $2.8M.
- Series A Preferred Stock convertible into 1.4 common shares each with full ratchet anti-dilution.
- Warrants to purchase up to 2,800,000 common shares at $1.00 exercise price also issued.
- Closing conditioned on shareholder approval of 1:3 reverse split, increase authorized preferred to 10M, and other items.
- Director David Lazar granted exemption from Section 16(b) short-swing profit rules via Rule 16b-3.