debt
confidence high
sentiment neutral
materiality 0.65
Aclarion exchanges $930K of near-maturing notes for Series B Preferred convertible at $0.234/share
Aclarion, Inc.
- Exchanged $930,000 of principal and accrued interest on notes due Sept 2024 for 930 Series B Preferred shares at $1,000 each.
- Series B Preferred converts at $0.234 per share, with full-ratchet anti-dilution on future below-conversion-price issuances.
- Preferred pays 10% annual dividends (cash or stock at company option) and ranks senior to common upon liquidation.
- Conversion capped at 4.99% beneficial ownership (holder may raise to 9.99% on 61-day notice).
- Company may redeem at 125% of liquidation value; triggering events (bankruptcy, Nasdaq noncompliance) raise dividend to 18% and lower conversion price.