LatamED AI Corp. (CCTC) establishes Series C Voting Preferred Stock
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
LATAMED AI CORP. adopted a new class of preferred stock called Series C Voting Preferred Stock through a Certificate of Designation filed in Nevada. The series authorizes 5,000,000 shares that are non-convertible, non-redeemable and entitled to dividends when declared, subject to senior securities.
Each Series C share carries twenty votes and votes together with common stock as a single class, while having a liquidation preference senior to common stock and equal to other preferred series unless otherwise stated. The series also includes protective provisions requiring Series C majority approval for key corporate actions and requires any merger or similar transaction to assume these rights.
Positive
- None.
Negative
- None.
8-K Event Classification
2 items: 5.03, 9.01
2 items
Item 5.03
Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year
Governance
The company amended its charter documents, bylaws, or changed its fiscal year.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Authorized Series C shares: 5,000,000 shares
Voting power per Series C share: 20 votes per share
2 metrics
Authorized Series C shares
5,000,000 shares
Series C Voting Preferred Stock authorization
Voting power per Series C share
20 votes per share
Series C Voting Preferred Stock voting rights
Key Terms
Series C Voting Preferred Stock, Certificate of Designation, liquidation preference, pari passu, +1 more
5 terms
Series C Voting Preferred Stock financial
"approved the designation of a new series of preferred stock designated as the “Series C Voting Preferred Stock”"
Certificate of Designation regulatory
"filed a Certificate of Designation with the Nevada Secretary of State"
A certificate of designation is a formal document that spells out the specific rights and rules attached to a particular class or series of stock, usually preferred shares. Think of it as a rulebook or menu that lists dividend terms, liquidation priority, conversion or redemption rights and any special voting protections; investors use it to judge how much income, control or downside protection those shares will provide compared with other securities.
liquidation preference financial
"Liquidation Preference: Senior to Common Stock; pari passu with any other series of Preferred Stock"
A liquidation preference is a rule that determines who gets paid first and how much they receive when a company is sold, goes bankrupt, or distributes its assets. It gives certain investors a priority claim—often returning their original investment plus any agreed multiple—before other owners receive money, which shapes how much common shareholders and founders ultimately get; think of it as a front-of-the-line pass that affects payout order and investor returns.
pari passu financial
"pari passu with any other series of Preferred Stock, unless expressly designated otherwise"
An instruction that different claims, securities, or creditors are treated equally and share rights or payments on the same priority level. For investors, it means their position will be paid or have voting power alongside others in the same class rather than being favored or subordinated—think of several people standing in one bus line who all get on together rather than some cutting ahead. That parity affects expected recovery in reorganizations, dividend order, and relative risk.
protective provisions financial
"Protective Provisions So long as any shares of Series C Preferred Stock are issued and outstanding"
FAQ
What did LATAMED AI CORP. (CCTC) change in its capital structure?
LATAMED AI CORP. created a new Series C Voting Preferred Stock via a Nevada Certificate of Designation. This adds a 5,000,000-share preferred class with specific voting, liquidation, and protective rights that sit senior to common stock and alongside other preferred series.
What voting power does LATAMED AI CORP. (CCTC) Series C preferred stock have?
Each Series C Voting Preferred share carries twenty votes and votes together with common stock as a single class. This structure concentrates voting influence in the preferred series while keeping a unified stockholder vote on matters submitted to stockholders.
What is the liquidation preference of LATAMED AI CORP. (CCTC) Series C preferred?
The Series C Voting Preferred Stock has a liquidation preference senior to common stock and pari passu with other preferred series, unless expressly designated otherwise. This means Series C holders rank ahead of common holders if the company is liquidated or wound up.
What protective provisions apply to LATAMED AI CORP. (CCTC) Series C preferred?
While Series C shares are outstanding, the company needs majority Series C approval to create senior stock, adversely amend Series C terms, liquidate or dissolve, or take actions requiring class approval by law. These protections give Series C holders veto power over major structural changes.
Filing Exhibits & Attachments
6 documentsOther Documents
- EX-3.1 CERTIFICATE OF DESIGNATION 19.3 KB
- EX-101 XBRL TAXONOMY EXTENSION SCHEMA 4.9 KB
- EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE 13.9 KB
- EX-101 XBRL TAXONOMY EXTENSION CALCULATION LINKBASE 898 B
- EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE 8.7 KB
- EX-101 XBRL TAXONOMY EXTENSION DEFINITION LINKBASE 2.0 KB