Freight Technologies amends charter to fix Series A4 conversion floor, aiding Nasdaq equity compliance

Freight Technologies, Inc.

Company filed amended articles to remove semi-annual floor price reset on Series A4 preferred shares, fixing a conflict with Nasdaq's $2.5M equity minimum.
As of March 31, 2025, shareholders' equity was $6.16M, but the prior conversion floor reset risked non-compliance.
Conversion price floor now fixed at 20% of the closing price on the day preceding issuance of each preferred share.
The amendment is effective immediately upon filing on June 27, 2025.

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

Freight Technologies, Inc.: Amended and Restated Memorandum and Articles of Association to remove the floor price reset provision on Series A4 Preferred Shares to ensure compliance with Nasdaq minimum stockholders' equity requirement (effective 2025-06-27).

Change: charter amendment
Effective: 2025-06-27

Exact text from the filing

On June 27, 2025, following approval by the Company’s board of directors, the Company filed an Amended and Restated Memorandum and Articles of Association with the Registrar of Corporate Affairs in the British Virgin Islands (the “Amended and Restated M&A”), which became effective immediately upon filing.

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Freight Technologies, Inc. filing history →

Source: SEC EDGAR

accession 0001641172-25-017013

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