SRAX amends Series B Preferred stock designation, removes shareholder approval for issuance

SRAX, Inc.

Filed Certificate of Amendment to Series B Preferred Certificate of Designation on March 27, 2024.
Removed requirement for shareholder approval per NASDAQ rules; removed Section 6(d) restricting issuance without approval.
Added OTCQB, OTCQX, OTC Pink as permissible trading markets for the stock.
Added Section 7(C) covering subsequent equity sales, easing future share issuances.

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

SRAX, Inc.: Certificate of Amendment to Certificate of Designation of Series B Preferred Stock, removing shareholder approval requirement, adding OTCQB/OTCQX/Pink trading markets, removing Section 6(d), and adding Section 7(C) (effective 2024-03-27).

Change: charter amendment
Effective: 2024-03-27

Exact text from the filing

On March 27, 2024 SRAX Inc (the “Company”) filed a Certificate of Amendment to its Certificate of Designation of its Series B of Preferred Stock (the “Certificate of Designation”) with the Secretary of State of Delaware, modifying certain provisions of the Certificate of Designation. The modifications include the removal of the need for Shareholder Approval per the NASDAQ rules. The addition of OTCQB, OTCQX and OTC Pink as a trading market. The removal of section 6 (d) removing the need for shareholder approval to issue shares to the holder. The addition of section 7 ( C ) Subsequent Equity Sales

View on SEC.gov

Browse all governance changes →

Source: SEC EDGAR

accession 0001493152-24-012768

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.