other material
confidence high
sentiment neutral
materiality 0.65
MyMD Pharmaceuticals files 8-K/A to correct terms of ~$13.9M private placement of preferred stock and warrants
Q/C TECHNOLOGIES, INC.
- Corrected typographical errors in terms of Series G and Series F-1 Preferred Stock and Warrants from May 20, 2024 private placements.
- Private placements expected to raise approx. $13.9M gross ($8.9M Series G, $5.0M Series F-1).
- Preferred stock convertible at $1.816/share, with 10% annual dividend; redemption beginning Dec 2024.
- Company must hold stockholder meeting by Aug 1, 2024 to seek approval for share issuance above 19.99% and increase authorized shares.
- Net proceeds to be used for general corporate purposes.