MineralRite repurchases 3.9M Series NMC preferred, caps $269M sinking fund; avoids ~2B common share dilution

MINERALRITE Corp

Repurchased 3,919,388 Series NMC $25 convertible preferred from Abstract Concepts 1618 LLC for $106,724,942, paid via a non-interest-bearing promissory note.
Note was fully satisfied and cancelled at closing Sept 30, 2026 through royalty repurchases of $1,641,254 and $246,188 plus warrant exercises; no cash changed hands.
Abstract and Commodity exercised 6,900,000 Series NMC and 53,500 Series D warrants; after the deal 9,880,612 Series NMC shares are outstanding, all held by Abstract at 500 common per share.
Sinking-fund obligation permanently capped at $269,049,058.76 (~$27.23/share), down from ~$375.8M potential and eliminating 5%/yr accretion worth about $13.5M annually.
Series C holders approved charter amendments 8,735-0 (81.8% of 10,679 outstanding) on Sept 28, 2026; Restated Certificate to set Series D at 60,000 and Series NMC at 10,000,000 authorized shares.

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