other material
confidence high
sentiment neutral
materiality 0.60
Trans American Aquaculture amends Series D Preferred Stock terms; conversion price set at 80% of VWAP
Trans American Aquaculture, Inc
- Filed Amended and Restated Certificate of Designation for Series D Convertible Preferred Stock on Aug 22, 2025.
- 1,190 shares of Series D Preferred Stock issued and outstanding; each share stated value $1,200, subject to increase.
- Conversion price is 80% of the lowest VWAP for the ten trading days preceding issuance, with adjustments.
- Cumulative 8% annual dividend payable quarterly; can be paid in cash or additional Series D shares at company discretion.
- Liquidation preference equals stated value plus accrued dividends and fees, senior to common stock.