Southland converts $20M management promissory notes into 5.83M shares at $3.43

Southland Holdings, Inc.

Issued 5,830,899 shares to CEO Frank Renda (3,396,233), COO Rudy Renda (2,215,664), and COO Tim Winn (219,002).
Conversion price $3.43 per share, using 30-day VWAP (greater of that or closing price on closing date).
Notes discharged include obligations dating back to 2016, 2023, and 2024; cash paid for fractional shares.
Transaction strengthens balance sheet by reducing $20M debt, reinforces management confidence, says CEO Frank Renda.
Shares issued under Section 4(a)(2) / Regulation D private placement; not registered under Securities Act.

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