other material
confidence high
sentiment neutral
materiality 0.65
SRX Global issues 3,579 Series C preferred shares in $2.86M debt-for-equity swap
SRx Health Solutions, Inc.
- Issued 3,579 Series C convertible preferred shares for $2,862,500, paid via assignment of CERO Therapeutics notes ($2,812,500 principal + $50,000 accrued interest).
- Series C converts at fixed $2.1888/share; alternate conversion at 95% of lowest VWAP after stockholder approval, 90% on triggering events.
- Company may redeem Series C at 125% of conversion amount; preferred ranks pari passu with Series A and B preferred.
- Registration rights agreement filed to register resale of underlying common shares and warrant shares.
- Transaction executed as unregistered offering under Section 4(a)(2)/Reg D; no cash proceeds received.