Bemax Inc. Announces Special Dividend of Bemax Convertible Preferred Stock

Rhea-AI Summary

Bemax Inc. (BMXC) has announced a special dividend of Series A Convertible Preferred Stock for its shareholders. Common stockholders will receive preferred stock valued at 10% of their total common shares. The dividend is payable on March 31, 2025, to stockholders of record as of March 28, 2025.

Each Series A Preferred Stock can be converted into 30 common shares after a 180-day holding period following issuance. Preferred stockholders will also be entitled to equivalent dividends as common stockholders when dividends are declared. The company has submitted this corporate action to FINRA for processing.

Positive

• Special dividend distribution of preferred shares worth 10% of common shares held
• Conversion ratio of 1:30 for preferred to common shares after 180 days
• Preferred shareholders entitled to equivalent dividends as common stockholders

Negative

• 180-day mandatory holding period before conversion rights
• Potential dilution of common stock upon conversion of preferred shares

News Market Reaction

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1 alert

% News Effect

On the day this news was published, BMXC declined NaN%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Dallas, Georgia--(Newsfile Corp. - January 6, 2025) - Bemax Inc. (OTC Pink: BMXC), a private label development company with a focus on disposable household and private label technology products, is pleased to announce today that it has declared a special dividend of Bemax Series A Convertible Preferred Stock in which every common stock shareholder shall receive the corporation's convertible Series A Preferred Stock value, which is 10% of the total common shares owned of the corporation common stock.

The dividend is payable on March 31, 2025, to stockholders of record at the close of business on March 28, 2025. The company has submitted the corporation action to FINRA for processing.

Each Bemax Series A Preferred Stock can convert into thirty (30) common stock beginning on the first day following the 180-day anniversary of issuance, and the common stock becomes tradable after the mandatory regulatory holding period. In the event the Board of Directors declares a dividend on the common stock, holders of the Series A Preferred Stock will be entitled to receive an equivalent dividend as if the Series A Preferred Stock had been converted into common stock prior to the declaration of such dividend.

Regarding the dividend, Taiwo Aimasiko, Bemax CEO, commented, "Today we are rewarding our passionate and supportive shareholders with a dividend of Bemax Series A Convertible Preferred Stock. Each shareholder will receive Preferred Stock valued at 10% of total common shares owned."

Bemax CEO, Taiwo Aimasiko, concluded, "This Preferred Stock dividend has tremendous potential to create meaningful value for Bemax and for our mid- to long-term shareholders as we continue to build a strong private label product with an expanding global distribution network and launch into the private label technology products."

Investors should note shares purchased on or after the ex-dividend date (March 31, 2025) will no longer be entitled to the dividend.

For additional information about the Bemax Series A Convertible Preferred Stock, and the convertibility of the Preferred Stock into Common Stock, please visit the investor page on the company's website at www.bemaxinc.com.

About Bemax Inc.

About Bemax Inc. Bemax Inc. is a forward-thinking company dedicated to delivering top-quality disposable diapers and women's hygienic sanitary products. With a focus on innovation and customer satisfaction, Bemax continues to expand its product offerings and distribution network, aiming to exceed the expectations of its growing customer base. Bemax Inc. exports and distribute private label household products to the global emerging markets. www.bemaxinc.com.

Safe Harbor Statement

This press release contains forward-looking statements that can be identified by terminology such as "believes," "expects," "potential," "plans," "suggests," "may," "should," "could," "intends," or similar expressions. Many forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results or implied by such statements. These factors include, but are not limited to, our ability to continue to enhance our products and systems to address industry changes, our ability to expand our customer base and retain existing customers, our ability to effectively compete in our market segment, the lack of public information on our company, our ability to raise sufficient capital to fund our business, operations, our ability to continue as a going concern, and a limited public market for our common stock, among other risks. Many factors are difficult to predict accurately and are generally beyond the company's control. Forward-looking statements speak only as to the date they are made and we do not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.

CONTACT INFORMATION

Bemax Inc.
Dallas, GA
USA
Taiwo Aimasiko
Email: admin@bemaxinc.com
Tel: (470) 582 0807 ext. 101

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/236087

FAQ

What is the conversion ratio for BMXC's Series A Preferred Stock dividend?

Each Series A Preferred Stock can be converted into 30 common shares after a 180-day holding period following issuance.

When is the record date for BMXC's special preferred stock dividend?

The record date is March 28, 2025, with the dividend payable on March 31, 2025.

How many preferred shares will BMXC shareholders receive?

Shareholders will receive preferred shares valued at 10% of their total common shares owned.

What are the dividend rights of BMXC's Series A Preferred Stock?

Preferred stockholders will receive equivalent dividends as common stockholders when dividends are declared.

When can BMXC's preferred shares be converted to common stock?

The preferred shares can be converted to common stock beginning 180 days after their issuance date.