CaliberCos creates Series A Convertible Preferred Stock with 12% dividend and mandatory conversion triggers

CaliberCos Inc.

750,000 shares authorized at $20 stated value; 12% annual non-cumulative dividend payable in cash or common stock.
Optional conversion in four tranches at conversion prices from $0.5114 to $1.2785 per share.
Mandatory conversion triggers when common stock price is 200% above each tranche's conversion price for 20 of 30 trading days.
Series A Preferred ranks senior to Class A and Class B common stock; no voting rights except as required by law.
Company may redeem at 120% of stated value plus accrued dividends, subject to 30-day holder conversion right.

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

CaliberCos Inc.: Filed a Certificate of Designation to establish terms of Series A Convertible Preferred Stock (effective 2024-11-26).

Change: charter amendment
Effective: 2024-11-26

Exact text from the filing

On November 26, 2024, CaliberCos Inc. (the “Company”) filed a Certificate of Designations, Preferences and Rights (the “Certificate of Designation”) with the Secretary of State of the State of Delaware to establish the preferences, voting powers, limitations as to dividends or other distributions, qualifications, terms and conditions of redemption and other terms and conditions of the Company’s Series A Convertible Preferred Stock, par value $0.001 (the “Series A Preferred Stock”).

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CaliberCos Inc. filing history →

Source: SEC EDGAR

accession 0001627282-24-000136

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