other_material
confidence high
sentiment neutral
materiality 0.25
Mangoceuticals subsidiary designates 1M shares of 6% Series B Convertible Preferred
MANGOCEUTICALS, INC.
- Series B Preferred has $10 stated value, 6% cumulative dividend payable quarterly.
- Conversion price fixed at $1.50 per common share, with 4.999% beneficial ownership cap.
- Liquidation preference of $12.50 per share plus accrued dividends; company can redeem at $12.50 after 3 years.
- No voting rights except protective provisions requiring majority approval for adverse changes.
- Issued by wholly-owned subsidiary Mango & Peaches Corp.; no immediate proceeds or issuance disclosed.
item 5.03item 9.01