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Humbl Inc (HMBL) delivers innovative digital ticketing solutions through secure authentication protocols and transaction efficiency. This news hub provides investors and industry stakeholders with essential updates about the company's evolving position in event management and digital commerce.
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HUMBL, Inc. (OTCQB: HMBL) has announced an amendment to its certificate of incorporation, extending limitations on Series B preferred stock conversions. The changes include:
- No conversions from June 2023 through September 2023
- to 500 Series B shares per month from October 2023 to June 2024
- to 1,000 Series B shares per month from July 2024 to December 2024
This amendment, effective June 1, 2023, is part of HUMBL's broader restructuring plan aimed at recapitalizing the company, consolidating and retiring existing debt, and reducing dilution. The goal is to drive shareholder value and strengthen the company's balance sheet, preparing for a potential uplisting to a major exchange.
HUMBL Inc (OTCQB: HMBL) has secured a funding commitment of up to $21 million as part of a comprehensive plan to recapitalize the company and pursue uplisting to a major exchange. The funding includes:
1. An Equity Financing Agreement with Pacific Lion for up to $20 million in common stock purchases.
2. A Convertible Promissory Note from Pacific Lion for up to $800,000.
3. $220,000 raised through the sale of common stock and warrants to private investors.
This restructuring aims to consolidate and retire existing debt, reduce dilution, and strengthen HUMBL's balance sheet. The company also plans to file a Regulation A+ offering to raise up to $75 million from the general public. HUMBL is working with Pacific Lion to capitalize the company and prepare for a potential uplisting within a 6-18 month timeframe.
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