secwatch.observer — SEC 8-K summary
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Issuer:     STANDARD PREMIUM FINANCE HOLDINGS, INC. (SPFX)
CIK:        0001807893
Form:       8-K
Filed at:   2022-05-02T23:59:59+00:00
Accession:  0001553350-22-000376
Event type: other_material
Sentiment:  neutral
Materiality: 0.55
Item codes: 3.02, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Standard Premium Finance raises $400K via preferred stock, exchanges $250K notes, amends bylaws on director nominations
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- Sold 40,000 shares of Series A Convertible Preferred Stock for $400,000 to accredited investors (Rule 506(b)).
- Exchanged $250,000 of promissory notes for 25,000 shares of Series A Preferred Stock under Section 3(a)(9).
- Board amended bylaws on May 2, 2022 to delete requirement that independent directors must select/recommend director nominees.
- Conversion price for Preferred Stock: 80% of 20-day average closing bid, minimum $5.00 per share, after a Public Equity Event.
- No underwriting discounts or commissions were paid in connection with the sales.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1807893/000155335022000376/0001553350-22-000376-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1807893/000155335022000376/spfh_8k.htm
  HTML page:      https://secwatch.observer/filing/0001553350-22-000376

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer